Intangible Valuation
Value, contrarian, coat tail rider, idiosyncratic research

CBIZ: Stable Recurring 15+% Free-Cash-Flow Yield

CBIZ Inc. (NYSE:CBZ) provides business and financial services to firms and individuals under four segments: financial services, employee services, medical management professionals, and national practices. If you take a look at its list of subsidiaries, you get a pretty good picture of what CBIZ business does:

Lots of tax and financial services, employee services, and while it is not as obvious from the subsidiary names, CBIZ also provides many compliance services (for a full list of services see footnote 2). Due to the company's large small business client base, the company also releases an index called the "CBIZ Small Business Employment Index" which covers 3,500 companies with 350 or fewer employees.

Basically, we are dealing with...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details