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PBI

Pitney Bowes Inc.

PBI

Pitney Bowes Inc. • NYSE
$9.86 ▼ -0.10% (-0.01)
Market Cap $1.76 B
52w High $13.11
52w Low $6.88
Dividend Yield 0.30%
P/E 23.48
Volume 1.42M
Outstanding Shares 178.10M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $459.675M ▼ $147.563M ▼ $51.963M ▲ 11.304% ▲ $0.29 ▲ $121.633M ▲
Q2-2025 $461.909M ▼ $174.143M ▲ $29.975M ▼ 6.489% ▼ $0.17 ▼ $92.97M ▼
Q1-2025 $493.42M ▼ $170.678M ▲ $35.422M ▲ 7.179% ▲ $0.19 ▲ $99.326M ▲
Q4-2024 $516.121M ▲ $157.761M ▼ $-42.378M ▼ -8.211% ▼ $-0.21 ▲ $9.453M ▲
Q3-2024 $499.463M $197.569M $80.375M 16.092% $-0.77 $-9.174M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $335.972M ▲ $3.255B ▲ $3.917B ▲ $-661.538M ▼
Q2-2025 $300.783M ▼ $3.239B ▼ $3.776B ▼ $-536.809M ▼
Q1-2025 $339.962M ▼ $3.27B ▼ $3.806B ▼ $-535.884M ▲
Q4-2024 $486.1M ▼ $3.398B ▼ $3.976B ▼ $-578.433M ▼
Q3-2024 $575.51M $3.648B $4.167B $-518.879M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $51.963M ▲ $66.848M ▼ $-36.431M ▼ $6.105M ▲ $35.817M ▲ $51.051M ▼
Q2-2025 $29.975M ▼ $111.388M ▲ $-28.564M ▲ $-123.426M ▼ $-38.61M ▲ $98.045M ▲
Q1-2025 $35.422M ▲ $-16.679M ▼ $-45.536M ▼ $-85.066M ▲ $-145.939M ▼ $-33.566M ▼
Q4-2024 $-42.063M ▼ $134.479M ▲ $17.292M ▲ $-237.434M ▼ $-91.812M ▼ $112.297M ▲
Q3-2024 $122.586M $14.746M $-38.635M $-7.214M $-27.252M $-4.692M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $0 ▲$90.00M ▲$90.00M ▲$90.00M ▲
Sales And Services
Sales And Services
 $0 ▲$0 ▲$0 ▲$460.00M ▲
Service
Service
 $0 ▲$320.00M ▲$290.00M ▼$290.00M ▲
Financial and other
Financial and other
 $0 ▲$80.00M ▲$80.00M ▲$0 ▼
Business Services
Business Services
 $-380.00M ▲$0 ▲$0 ▲$0 ▲
Equipment Sales
Equipment Sales
 $70.00M ▲$0 ▼$0 ▲$0 ▲
Financing
Financing
 $70.00M ▲$0 ▼$0 ▲$0 ▲
Rentals
Rentals
 $20.00M ▲$0 ▼$0 ▲$0 ▲
Supplies Product
Supplies Product
 $40.00M ▲$0 ▼$0 ▲$0 ▲
Support Services
Support Services
 $90.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Pitney Bowes shows a business in transition. Sales were fairly steady for a while but have dropped more recently, likely reflecting exits from lower‑return activities and pressure in legacy mail. Profitability has been thin and choppy, with frequent small losses and only occasional years in the black. On the positive side, operating results in the most recent year look cleaner and healthier than the headline revenue decline suggests, hinting that the company is pruning less profitable lines and tightening costs. Still, overall earnings quality remains fragile, with little margin for error and a history of volatility.

Balance Sheet

Balance Sheet The balance sheet reflects years of strain. Total assets have been shrinking, cash reserves are lower than they used to be, and debt remains heavy relative to the size of the business. Shareholders’ equity has slipped back into negative territory, which signals accumulated losses and high leverage. This does not mean an immediate crisis, but it does mean the company has a slim financial cushion and less flexibility if conditions weaken or if turnaround efforts take longer than planned.

Cash Flow

Cash Flow Cash generation is a relative bright spot. The company has consistently brought in positive cash from its operations, even in years when it reported accounting losses. After investment spending, free cash flow has usually been positive, though not by a wide margin and with the occasional dip. Management has also been keeping capital spending relatively disciplined. Overall, the cash flow profile suggests a business that can support itself day‑to‑day, but with limited room for aggressive debt reduction or large new initiatives without careful prioritization.

Competitive Edge

Competitive Edge Competitively, Pitney Bowes still benefits from a long history, strong brand recognition, and deep relationships with businesses that rely on mailing and shipping. Its nationwide presort network and close ties with the postal system give it scale advantages that newer, purely digital players cannot easily copy. The installed base of equipment and software also creates switching costs for customers. However, the company operates in markets facing structural mail decline and intense competition in parcel delivery and shipping software, so its moat is more about specialized niches, integration, and service quality than about broad market dominance.

Innovation and R&D

Innovation and R&D The company’s innovation story is more encouraging than its balance sheet. It has steadily shifted from hardware toward software, data, and shipping platforms, adding cloud‑based tools, connected devices, and analytics to modernize its offerings. New platforms like ShipAccel and investments in next‑generation e‑commerce and payments systems show an intent to stay relevant in digital commerce. Acquisitions to bolster software and presort capabilities further support this push. The key question is execution: turning these R&D and platform investments into durable, profitable growth while managing legacy businesses down.

Summary

Overall, Pitney Bowes looks like a legacy industrial and mail business working hard to reinvent itself as a leaner, tech‑enabled logistics and mailing platform. The income statement shows pressure and volatility, the balance sheet shows leverage and limited cushion, but cash flows and a focused repositioning toward higher‑value SendTech and presort services offer some grounding. Its brand, network, and integrated solutions still matter in its chosen niches, and its innovation efforts are directionally aligned with long‑term trends in shipping and e‑commerce. The main uncertainties lie in how quickly it can complete the transition, improve margins, and reduce financial risk in a challenging and evolving market.

NEWS

November 21, 2025 · 7:10 AM UTC

Pitney Bowes Inc. Commences Cash Tender Offers for Two Series of Notes

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October 29, 2025 · 4:11 PM UTC

Pitney Bowes Declares Common Stock Dividend

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October 29, 2025 · 4:10 PM UTC

Pitney Bowes Discloses Financial Results for Third Quarter 2025 and Issues CEO Letter

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October 3, 2025 · 8:00 AM UTC

Pitney Bowes Announces Election of Brent Rosenthal as Independent Chair of its Board of Directors

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September 12, 2025 · 8:10 AM UTC

Pitney Bowes Appoints Accomplished Shipping and Technology Leader Todd Everett as President of Sending Technology Solutions

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