NYSE : PBI
Pitney Bowes Inc. — Financial statements
Industrials · Integrated Freight & Logistics · United States
Last price 16.31 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.21B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Pitney Bowes Inc. (PBI) reported revenue of 1.86B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 1.54B | 1.57B | 1.69B | 1.74B | 2.21B | 3.38B |
| Other Revenue | 318.54M | 321.89M | 335.14M | 339.10M | 274.51M | 294.42M |
| Revenue | 1.86B | 1.89B | 2.03B | 2.08B | 2.48B | 3.67B |
| Cost of Revenue | 799.82M | 807.26M | 883.24M | 965.42M | 1.33B | 2.50B |
| Gross Profit | 1.01B | 1.02B | 1.06B | 1.03B | 1.10B | 1.12B |
| Selling, General & Admin | 577.94M | 629.11M | 806.94M | 773.35M | 789.85M | 925.17M |
| Research & Development | 14.06M | 15.28M | 31.96M | 29.49M | 35.46M | 46.78M |
| Operating Expenses | 592.01M | 644.39M | 838.89M | 802.84M | 825.32M | 971.95M |
| Operating Income | 420.30M | 379.47M | 223.41M | 227.77M | 276.10M | 150.05M |
| Interest Expense | -106.74M | -101.46M | -110.09M | -98.77M | -87.31M | -96.89M |
| EBT Excluding Unusual Items | 313.56M | 278.01M | 113.31M | 129.00M | 188.79M | 53.16M |
| Merger & Restructuring Charges | -71.54M | -71.42M | -144.75M | -52.41M | -17.21M | -19.00M |
| Impairment of Goodwill | -123.57M | |||||
| Gain (Loss) on Sale of Investments | -10.00M | |||||
| Gain (Loss) on Sale of Assets | 22.06M | 11.63M | ||||
| Other Unusual Items | 12.41M | -14.07M | -10.89M | 3.06M | -4.99M | -56.21M |
| Pretax Income | 254.43M | 192.52M | -52.33M | -43.92M | 188.65M | -7.42M |
| Income Tax Expense | 66.39M | 47.83M | -154.83M | 17.35M | 42.96M | -10.92M |
| Earnings From Continuing Operations | 188.05M | 144.70M | 102.50M | -61.27M | 145.70M | 3.51M |
| Earnings From Discontinued Operations | -306.10M | -324.36M | -108.76M | -4.86M | ||
| Net Income to Company | 188.05M | 144.70M | -203.60M | -385.63M | 36.94M | -1.35M |
| Net Income | 188.05M | 144.70M | -203.60M | -385.63M | 36.94M | -1.35M |
| Net Income to Common | 188.05M | 144.70M | -203.60M | -385.63M | 36.94M | -1.35M |
| Shares Outstanding (Basic) | 144.39M | 171.60M | 179.51M | 175.64M | 173.91M | 173.91M |
| Shares Outstanding (Diluted) | 146.49M | 173.04M | 182.53M | 175.64M | 177.25M | 179.10M |
| EPS (Basic) | 1.30 | 0.84 | -1.13 | -2.20 | 0.21 | -0.01 |
| EPS (Diluted) | 1.28 | 0.84 | -1.12 | -2.20 | 0.21 | -0.01 |
| Free Cash Flow | 504.62M | 316.98M | 156.77M | 1.98M | 92.41M | 117.47M |
| Free Cash Flow Per Share | 3.44 | 1.83 | 0.86 | 0.01 | 0.52 | 0.66 |
| Dividend Per Share | 0.38 | 0.30 | 0.20 | 0.20 | 0.20 | 0.20 |
| Gross Margin | 54.34% | 54.10% | 52.42% | 49.57% | 44.36% | 30.54% |
| Operating Margin | 22.56% | 20.05% | 11.02% | 10.96% | 11.12% | 4.08% |
| Profit Margin | 10.10% | 7.65% | -10.05% | -18.55% | 1.49% | -0.04% |
| Free Cash Flow Margin | 27.09% | 16.75% | 7.74% | 0.10% | 3.72% | 3.20% |
| EBITDA | 519.43M | 491.05M | 337.89M | 340.50M | 387.26M | 312.91M |
| EBITDA Margin | 27.89% | 25.95% | 16.67% | 16.38% | 15.60% | 8.52% |
| D&A For EBITDA | 99.13M | 111.58M | 114.48M | 112.72M | 111.17M | 162.86M |
| EBIT | 420.30M | 379.47M | 223.41M | 227.77M | 276.10M | 150.05M |
| EBIT Margin | 22.56% | 20.05% | 11.02% | 10.96% | 11.12% | 4.08% |
| Effective Tax Rate | 26.09% | 24.84% | 22.77% | |||
| Revenue as Reported | 1.86B | 1.89B | 2.03B | 2.08B | 2.48B | 3.67B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 268.51M | 284.89M | 469.73M | 600.05M | 669.98M | 732.48M |
| Short-Term Investments | 12.66M | 12.23M | 16.37M | 22.17M | 11.17M | 14.44M |
| Cash & Short-Term Investments | 281.18M | 297.12M | 486.10M | 622.22M | 681.15M | 746.92M |
| Accounts Receivable | 162.17M | 168.10M | 159.95M | 200.24M | 343.56M | 334.63M |
| Other Receivables | 2.42M | 3.14M | 10.43M | 564.00K | 8.79M | 13.89M |
| Receivables | 164.59M | 171.24M | 170.38M | 200.81M | 352.35M | 348.52M |
| Inventory | 63.02M | 66.24M | 59.84M | 63.05M | 83.72M | 78.59M |
| Finance Div. Loans and Leases | 461.91M | 496.45M | 535.61M | 563.54M | 564.97M | 560.68M |
| Other Current Assets | 74.17M | 69.45M | 66.03M | 608.48M | 115.82M | 157.34M |
| Total Current Assets | 1.04B | 1.10B | 1.32B | 2.06B | 1.80B | 1.89B |
| Property, Plant & Equipment | 269.10M | 292.91M | 332.01M | 380.57M | 716.80M | 637.59M |
| Long-Term Investments | 168.69M | 204.88M | 190.44M | 250.24M | 275.26M | 336.15M |
| Goodwill | 739.19M | 746.69M | 721.00M | 734.41M | 1.07B | 1.14B |
| Other Intangible Assets | 12.04M | 14.74M | 15.78M | 20.40M | 77.94M | 132.44M |
| Finance Div. Loans and Leases Long-Term | 533.19M | 605.13M | 610.32M | 653.09M | 627.12M | 587.43M |
| Long-Term Deferred Charges | 28.00M | 41.00M | 48.00M | |||
| Other Long-Term Assets | 203.23M | 180.06M | 185.43M | 123.81M | 110.77M | 155.33M |
| Total Assets | 2.99B | 3.17B | 3.40B | 4.27B | 4.74B | 4.96B |
| Accounts Payable | 796.21M | 230.04M | 239.74M | 273.60M | 315.35M | 310.99M |
| Accrued Expenses | 187.15M | 234.90M | 232.05M | 216.27M | 233.88M | |
| Current Portion of Long-Term Debt | 24.73M | 17.15M | 53.25M | 58.93M | 32.76M | 24.74M |
| Current Portion of Leases | 29.73M | 38.98M | 35.85M | 38.70M | 64.27M | 50.99M |
| Current Income Taxes Payable | 2.79M | 5.21M | 2.95M | 6.52M | 2.10M | 9.02M |
| Current Unearned Revenue | 66.93M | 69.08M | 70.13M | 76.26M | 105.21M | 99.28M |
| Other Current Liabilities | 576.95M | 1.00B | 1.04B | 1.21B | 991.84M | 999.04M |
| Total Current Liabilities | 1.50B | 1.55B | 1.67B | 1.90B | 1.73B | 1.73B |
| Long-Term Debt | 1.86B | 1.98B | 1.87B | 2.09B | 2.17B | 2.30B |
| Long-Term Leases | 87.59M | 126.11M | 124.46M | 152.22M | 309.55M | 231.63M |
| Long-Term Unearned Revenue | 104.00K | 102.00K | 159.00K | 507.00K | 906.00K | 1.11M |
| Pension & Post-Retirement Benefits | 161.75M | 176.16M | 182.01M | 162.43M | 242.13M | |
| Long-Term Deferred Tax Liabilities | 111.88M | 72.67M | 49.19M | 211.48M | 263.13M | 286.44M |
| Other Long-Term Liabilities | 269.41M | 86.96M | 86.80M | 109.00M | 44.38M | 57.89M |
| Total Liabilities | 3.83B | 3.97B | 3.98B | 4.64B | 4.68B | 4.85B |
| Common Stock | 270.34M | 270.34M | 270.34M | 270.34M | 323.34M | 323.34M |
| Additional Paid-In Capital | 2.48M | |||||
| Retained Earnings | 2.74B | 2.66B | 2.67B | 3.08B | 5.13B | 5.17B |
| Treasury Stock | -3.06B | -2.94B | -2.68B | -2.87B | -4.55B | -4.60B |
| Comprehensive Income & Other | -789.98M | -789.13M | -839.17M | -851.25M | -835.56M | -780.31M |
| Total Common Equity | -836.74M | -802.36M | -578.43M | -368.58M | 60.65M | 112.63M |
| Shareholders' Equity | -836.74M | -802.36M | -578.43M | -368.58M | 60.65M | 112.63M |
| Total Liabilities & Equity | 2.99B | 3.17B | 3.40B | 4.27B | 4.74B | 4.96B |
| Total Debt | 2.00B | 2.16B | 2.08B | 2.34B | 2.58B | 2.61B |
| Net Cash (Debt) | -1.72B | -1.86B | -1.59B | -1.71B | -1.90B | -1.86B |
| Net Cash Per Share | -11.77 | -10.75 | -8.73 | -9.76 | -10.71 | -10.38 |
| Filing Date Shares Outstanding | 135.55M | 149.94M | 182.79M | 176.53M | 174.18M | 174.86M |
| Total Common Shares Outstanding | 136.12M | 150.70M | 182.41M | 176.37M | 174.03M | 174.73M |
| Working Capital | -452.47M | -447.34M | -354.77M | 159.65M | 70.21M | 164.11M |
| Book Value Per Share | -6.15 | -5.32 | -3.17 | -2.09 | 0.35 | 0.64 |
| Tangible Book Value | -1.59B | -1.56B | -1.32B | -1.12B | -1.08B | -1.15B |
| Tangible Book Value Per Share | -11.67 | -10.38 | -7.21 | -6.37 | -6.23 | -6.61 |
| Buildings | 126.46M | |||||
| Machinery | 493.16M | 538.25M | 510.86M | 673.90M | 707.84M | |
| Leasehold Improvements | 77.08M | 84.99M | 89.00M | 127.36M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 188.05M | 144.70M | -203.60M | -385.63M | 36.94M | -1.35M |
| Depreciation & Amortization | 99.13M | 111.58M | 114.48M | 112.72M | 111.17M | 162.86M |
| Other Amortization | 7.51M | 7.23M | 12.91M | 10.70M | 8.67M | 7.16M |
| Loss (Gain) From Sale of Assets | 6.34M | 11.07M | 13.19M | 13.57M | -17.41M | -11.63M |
| Asset Writedown & Restructuring Costs | 5.51M | 17.32M | -9.11M | 141.54M | 1.80M | -2.99M |
| Loss (Gain) From Sale of Investments | 10.00M | |||||
| Stock-Based Compensation | 16.07M | 14.15M | 16.52M | 8.86M | 16.31M | 20.86M |
| Provision & Write-off of Bad Debts | 12.12M | 13.23M | 13.18M | 14.22M | 7.02M | 7.81M |
| Other Operating Activities | 49.23M | 25.88M | 216.13M | 244.85M | 134.61M | 17.97M |
| Change in Accounts Receivable | -8.14M | -14.00M | 31.98M | 25.43M | -14.42M | 37.50M |
| Change in Inventory | 12.28M | -5.57M | 2.26M | 18.21M | -3.39M | -8.01M |
| Change in Accounts Payable | 86.34M | -62.03M | 47.35M | -16.39M | 49.40M | 57.78M |
| Change in Unearned Revenue | -5.13M | -3.48M | -4.88M | -7.53M | -14.26M | -14.03M |
| Change in Income Taxes | 7.20M | -6.81M | -35.07M | 30.10M | 23.29M | 2.97M |
| Change in Other Net Operating Assets | 99.41M | 108.04M | 61.34M | 18.17M | 1.02M | 19.75M |
| Operating Cash Flow | 569.91M | 383.26M | 229.17M | 80.09M | 175.04M | 301.51M |
| Capital Expenditures | -65.29M | -66.28M | -72.40M | -78.11M | -82.63M | -184.04M |
| Sale of Property, Plant & Equipment | 50.77M | 1.84M | ||||
| Cash Acquisitions | -2.20M | -5.14M | -15.00M | |||
| Divestitures | 111.59M | 27.57M | ||||
| Investment in Securities | 5.56M | -6.43M | 46.46M | 6.50M | 19.86M | 22.43M |
| Other Investing Activities | 614.00K | 11.01M | -13.65M | -22.74M | -65.61M | -1.77M |
| Investing Cash Flow | -43.20M | -125.10M | -49.06M | -124.10M | -24.27M | -155.25M |
| Long-Term Debt Issued | 1.00B | 266.75M | 1.20B | |||
| Total Debt Issued | 476.70M | 1.00B | 266.75M | 1.20B | ||
| Long-Term Debt Repaid | -934.32M | -233.93M | -322.89M | -124.10M | -1.45B | |
| Total Debt Repaid | -692.79M | -934.32M | -233.93M | -322.89M | -124.10M | -1.45B |
| Net Debt Issued (Repaid) | -216.09M | 70.68M | -233.93M | -56.14M | -124.10M | -250.23M |
| Repurchase of Common Stock | -332.31M | -378.36M | -13.45M | |||
| Common Dividends Paid | -54.75M | -51.06M | -35.96M | -35.22M | -34.72M | -34.80M |
| Dividends Paid | -54.75M | -51.06M | -35.96M | -35.22M | -34.72M | -34.80M |
| Other Financing Activities | 9.97M | -86.62M | -35.57M | 61.35M | -25.82M | -45.34M |
| Financing Cash Flow | -578.07M | -445.36M | -305.45M | -30.00M | -198.08M | -330.37M |
| Foreign Exchange Rate Adjustments | -1.12M | 2.36M | -4.99M | 5.73M | -16.09M | -4.86M |
| Net Cash Flow | -52.48M | -184.84M | -130.33M | -68.28M | -63.40M | -188.97M |
| Free Cash Flow | 504.62M | 316.98M | 156.77M | 1.98M | 92.41M | 117.47M |
| Free Cash Flow Margin | 27.09% | 16.75% | 7.74% | 0.10% | 3.72% | 3.20% |
| Free Cash Flow Per Share | 3.44 | 1.83 | 0.86 | 0.01 | 0.52 | 0.66 |
| Levered Free Cash Flow | 367.61M | 176.99M | 529.16M | -14.17M | 178.35M | 108.75M |
| Unlevered Free Cash Flow | 426.81M | 233.17M | 585.07M | 36.86M | 224.24M | 162.14M |
| Cash Interest Paid | 136.27M | 142.11M | 167.89M | 164.05M | 134.25M | 124.08M |
| Cash Income Tax Paid | 19.94M | 16.06M | 45.48M | 22.63M | 14.55M | 4.34M |
| Change in Working Capital | 191.97M | 16.16M | 102.98M | 68.00M | 41.64M | 95.97M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.21B | 1.70B | 1.32B | 775.86M | 661.22M | 1.17B |
| Enterprise Value | 3.93B | 3.59B | 3.00B | 2.69B | 2.56B | 3.00B |
| Last Close Price | 16.31 | 10.36 | 6.88 | 4.03 | 3.30 | 5.48 |
| PE Ratio | 12.73 | 11.76 | 17.90 | |||
| Forward PE | 9.63 | 7.36 | 7.31 | 40.00 | 15.72 | 17.39 |
| PS Ratio | 1.19 | 0.90 | 0.65 | 0.37 | 0.27 | 0.32 |
| PB Ratio | -2.12 | -2.27 | -2.10 | 10.90 | 10.36 | |
| P/FCF Ratio | 4.38 | 5.37 | 8.39 | 391.45 | 7.16 | 9.94 |
| P/OCF Ratio | 3.88 | 4.44 | 5.74 | 9.69 | 3.78 | 3.87 |
| PEG Ratio | 0.86 | 0.49 | 0.49 | 2.67 | 1.31 | 2.21 |
| EV/Sales Ratio | 2.11 | 1.90 | 1.48 | 1.29 | 1.03 | 0.82 |
| EV/EBITDA Ratio | 7.57 | 7.31 | 8.87 | 7.91 | 6.60 | 9.58 |
| EV/EBIT Ratio | 9.36 | 9.46 | 13.41 | 11.82 | 9.26 | 19.98 |
| EV/FCF Ratio | 7.80 | 11.33 | 19.11 | 1,358.60 | 27.67 | 25.52 |
| Debt / Equity Ratio | -2.40 | -2.69 | -3.60 | -6.34 | 42.52 | 23.14 |
| Debt / EBITDA Ratio | 3.53 | 4.01 | 5.42 | 5.92 | 6.02 | 6.40 |
| Debt / FCF Ratio | 3.97 | 6.81 | 13.27 | 1,179.09 | 27.91 | 22.19 |
| Net Debt / Equity Ratio | -2.06 | -2.32 | -2.76 | -4.65 | 31.29 | 16.51 |
| Net Debt / EBITDA Ratio | 3.32 | 3.79 | 4.72 | 5.04 | 4.90 | 5.94 |
| Net Debt / FCF Ratio | 3.42 | 5.87 | 10.17 | 865.15 | 20.54 | 15.83 |
| Asset Turnover | 0.60 | 0.58 | 0.53 | 0.46 | 0.51 | 0.72 |
| Inventory Turnover | 11.53 | 12.81 | 14.38 | 13.16 | 16.39 | 33.38 |
| Quick Ratio | 0.61 | 0.62 | 0.71 | 0.73 | 0.93 | 0.96 |
| Current Ratio | 0.70 | 0.71 | 0.79 | 1.08 | 1.04 | 1.09 |
| Return on Equity (ROE) | 168.16% | 3.83% | ||||
| Return on Assets (ROA) | 8.41% | 7.22% | 3.64% | 3.16% | 3.56% | 1.84% |
| Return on Invested Capital (ROIC) | 20.06% | 17.05% | 10.90% | 10.51% | 10.85% | 7.67% |
| Return on Capital Employed (ROCE) | 28.10% | 23.40% | 13.00% | 9.60% | 9.20% | 4.60% |
| Earnings Yield | 7.86% | 8.51% | -15.48% | -49.70% | 5.59% | -0.12% |
| FCF Yield | 22.82% | 18.64% | 11.92% | 0.26% | 13.98% | 10.06% |
| Dividend Yield | 2.45% | 2.66% | 2.77% | 4.55% | 5.26% | 2.99% |
| Payout Ratio | 30.43% | 35.29% | 93.98% | |||
| Buyback Yield / Dilution | 18.38% | 5.20% | -3.92% | 0.91% | 1.03% | -4.42% |
| Total Shareholder Return | 20.83% | 7.85% | -1.15% | 5.46% | 6.30% | -1.43% |