Pitney Bowes Inc.
- Open
- 17.48
- Day high
- 18.05
- Day low
- 17.48
- Prev close
- 17.52
- Volume
- 919K
- Mkt cap
- $2.4B
- P/E (TTM)
- 17.4
- EPS (TTM)
- $1.02
- P/B
- -2.7
- P/S
- 1.3
- Yield
- 2.03%
- Per share
- $0.36
- ▼Insiders net selling -$50.8M over the last 3 months (0 open-market buys, 29 sales)
- 🏛Institutions reducing (13F)
Pitney Bowes Inc. (PBI) is a Industrials company listed on NYSE. The stock is up 56% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 29 sales (SEC Form 4).
Pitney Bowes Inc. (PBI) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PBI earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.47 | $0.47 | +0.0% | $477M | +1.1% |
| Feb 17, 2026 | $0.38 | $0.45 | +18.4% | $478M | +1.9% |
| Oct 29, 2025 | $0.32 | $0.31 | -3.1% | $460M | -4.7% |
| Jul 30, 2025 | $0.27 | $0.27 | +0.0% | $462M | -1.2% |
| May 7, 2025 | $0.28 | $0.33 | +17.9% | $493M | -0.9% |
| Nov 7, 2024 | $0.13 | $0.21 | +61.5% | $499M | +6.8% |
| Aug 8, 2024 | $-0.06 | $0.03 | +150.0% | $793M | +2.8% |
| May 2, 2024 | $-0.01 | $-0.01 | -77.9% | $831M | +4.2% |
| Feb 1, 2024 | $0.02 | $0.07 | +250.0% | $872M | +2.6% |
| Nov 2, 2023 | $-0.04 | $-0.07 | -100.0% | $784M | -0.8% |
| Aug 3, 2023 | $-0.01 | $-0.02 | -100.0% | $776M | -4.1% |
| May 4, 2023 | — | $-0.01 | — | $835M | -3.5% |
PBI insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 22, 2026 | Rosenthal Brent Ddirector | Option | 8,755 | — |
| Jun 12, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 29,055 | $17.40 |
| Jun 12, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 18,978 | $17.02 |
| Jun 12, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 25,301 | $16.93 |
| Jun 12, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 293,774 | $17.40 |
| Jun 12, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 255,816 | $16.93 |
| Jun 12, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 191,893 | $17.02 |
| Jun 1, 2026 | Pfeiffer Deborahofficer: EVP & Pres, Presort Services | Sell | 18,750 | $16.06 |
| May 28, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 221,984 | $15.67 |
| May 28, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 21,954 | $15.67 |
| May 26, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 3,643 | $15.62 |
| May 26, 2026 | Pfeiffer Deborahofficer: EVP & Pres, Presort Services | Sell | 23,075 | $15.48 |
| May 26, 2026 | Wolf Kurt Jamesdirector, officer: President & CEO | Sell | 36,833 | $15.62 |
| May 14, 2026 | Rosenthal Brent Ddirector | Grant | 18,159 | — |
| May 14, 2026 | WALKER WAYNE REMELLdirector | Grant | 18,159 | — |
Source: PBI SEC Form 4 filings, latest Jun 22, 2026. For informational purposes only — not investment advice.
See the full PBI insider & 13F page →Pitney Bowes Inc. company profile
Overview
Pitney Bowes Inc. (NYSE:PBI) is a century-old American technology and logistics company founded in 1920, originally as the Pitney Bowes Postage Meter Company. Headquartered in Stamford, Connecticut, the company has evolved from its origins as a postage meter manufacturer into a diversified shipping, mailing, and logistics services provider. Today, Pitney Bowes serves small and medium-sized businesses, large enterprises, retailers, and government clients across the United States, Canada, and internationally through three primary business segments: SendTech Solutions, Presort Services, and Global Financial Services.
Business
Pitney Bowes operates in the integrated freight and logistics industry, providing technology-enabled mailing and shipping solutions to businesses of all sizes. The company's operations are structured around three main business segments: SendTech Solutions represents the company's legacy mailing equipment business, which has been transitioning toward shipping technology solutions. This segment provides physical mailing equipment (postage meters, inserters, sorters), digital mailing software, shipping technology platforms, and related supplies and services. The segment generates financing revenue through equipment leases and also offers maintenance services. SendTech has been pivoting toward shipping-related services, which now represent approximately 17% of segment revenue and are growing at double-digit rates. This segment accounts for roughly 60% of total company revenue. Presort Services operates mail sortation facilities that help large-volume mailers qualify for postal discounts by pre-sorting mail according to postal service requirements. When businesses send large volumes of mail, they can achieve significant postage savings by having their mail pre-sorted by zip code, carrier route, and other postal specifications before delivery to the postal service. Pitney Bowes operates facilities that sort billions of mail pieces annually, processing first-class mail, marketing mail, and bound printed matter. This segment contributes approximately 33% of total revenue and has demonstrated consistent profitability with EBIT margins approaching 30%. Global Financial Services operates through Pitney Bowes Bank, which provides financing solutions primarily for the company's equipment leases and has been expanding into receivables purchase programs. The bank maintains over $1 billion in net finance receivables and $700 million in deposits, generating revenue through interest spreads and fees. The company exited its Global Ecommerce segment in 2024, which previously provided domestic parcel delivery services and cross-border shipping solutions but had been consistently unprofitable.
Revenue model
Pitney Bowes generates revenue through multiple business models across its segments. SendTech Solutions operates primarily on a lease-based model, where customers lease mailing and shipping equipment for multi-year terms, creating recurring revenue streams. The segment also generates revenue from equipment sales, software subscriptions (nearly 200,000 paid SaaS subscribers), supplies sales, and maintenance services. The shift toward shipping technology has introduced usage-based pricing models where customers pay based on shipping volume processed. Presort Services operates on a service fee model, charging clients based on the volume of mail pieces processed and sorted. Revenue is directly tied to mail volumes, with pricing reflecting the postal discounts that clients receive. The business benefits from economies of scale, as higher volumes spread fixed facility and equipment costs across more mail pieces. Global Financial Services generates revenue through traditional banking activities, earning interest spreads on loans and deposits, along with fees for financial services. The bank primarily finances Pitney Bowes equipment leases but is expanding into broader receivables purchase programs. Several factors influence the company's margins and profitability. Positive factors include the recurring nature of lease revenue in SendTech, operational leverage in Presort Services as volumes increase, the growing higher-margin shipping technology business, and cost reduction initiatives that have targeted $180-200 million in annual savings. Negative factors include declining traditional mail volumes affecting both SendTech equipment demand and Presort volumes, competitive pressure in shipping markets, the capital-intensive nature of the Presort business requiring ongoing facility investments, and interest rate sensitivity affecting the financial services segment. The company's margins are also influenced by postal rate changes, as USPS pricing affects both the value proposition of Presort Services and the economics of shipping solutions.
Competitive moat
Pitney Bowes possesses a moderate economic moat primarily derived from switching costs and regulatory advantages, though this moat has been weakening over time. In SendTech Solutions, the company benefits from customer switching costs, as businesses become dependent on specific mailing workflows and integrations with their existing systems. Multi-year lease agreements provide some revenue stability, and the company's extensive service network creates convenience value for customers. However, this moat is eroding as traditional mail volumes decline and digital alternatives reduce demand for physical mailing equipment. Presort Services represents the company's strongest moat, built on regulatory advantages and operational scale. The business requires deep knowledge of complex postal regulations and significant capital investment in sorting facilities and equipment. Pitney Bowes' scale allows it to achieve postal work-sharing discounts that smaller competitors cannot match, and its nationwide network of facilities provides geographic advantages. The regulatory complexity of postal sorting creates barriers to entry, as new competitors must navigate intricate postal service requirements and achieve sufficient scale to be cost-competitive. Global Financial Services operates with limited moat characteristics, functioning primarily as a captive finance arm for equipment leases. While the bank relationship provides some customer stickiness, it faces competition from traditional banks and alternative financing sources. The company's overall competitive position faces significant challenges from digital transformation reducing mail volumes, competitive pressure from established logistics providers like FedEx and UPS in shipping markets, and technology disruption from cloud-based alternatives to traditional mailing solutions. E-commerce growth has shifted demand toward parcel delivery services where Pitney Bowes lacks the scale and network density of major carriers. The company's attempt to compete in domestic parcel delivery through its Global Ecommerce segment proved unsuccessful, leading to its exit in 2024.
Risks & safety
Pitney Bowes presents moderate financial risk with improving but still concerning leverage metrics and mixed cash generation patterns. **Debt and Solvency:** - Total debt-to-equity ratio of -3.54x (negative due to negative book value) - Current ratio of 0.79x indicates potential short-term liquidity pressure - Company targeting leverage reduction below 3x by Q3 2025 - $324 million in cash and short-term investments provides some cushion **Cash Flow and Burn:** - Free cash flow of -$34 million in Q1 2025 vs. +$112 million in Q4 2024 shows volatility - Full-year 2024 free cash flow of $157 million was positive - Management guidance of $330-370 million free cash flow for 2025 - Operating cash flow has been inconsistent quarter-to-quarter **Valuation Metrics:** - P/E ratio of 11.5x appears reasonable for current earnings - EV/EBITDA of 23.6x is elevated, reflecting debt burden - Price-to-book ratio negative due to negative book value from accumulated losses - Trading near 52-week lows suggests market skepticism **Other Considerations:** - Successful exit from unprofitable Global Ecommerce segment removes cash drain - Cost reduction program targeting $180-200 million in annual savings - Dividend recently increased, indicating management confidence - Authorized $150 million share repurchase program provides capital return optionality
Recent development
Over the past few years, Pitney Bowes has undergone significant strategic transformation focused on simplification and profitability improvement. The most significant development was the exit from Global Ecommerce in 2024, where the company sold its majority interest to Hilco Global for orderly liquidation after years of losses. This segment had been losing approximately $136 million annually, and its elimination has materially improved the company's profitability profile. The company has implemented an aggressive cost reduction program, initially targeting $120-160 million in annual savings but subsequently raising the target to $180-200 million. These savings have come primarily from headcount reductions, facility consolidations, and streamlined operations. Management has removed $157 million in annualized costs as of Q1 2025, demonstrating execution capability. SendTech Solutions has been pivoting from traditional mailing equipment toward shipping technology solutions. Shipping-related revenue now represents 17% of the segment and has been growing at double-digit rates. The company has reorganized its sales force from geographic to vertical market focus, targeting healthcare, banking, and government sectors. The business model has also shifted toward lease extensions rather than new equipment sales, providing more predictable revenue streams. Presort Services has expanded through strategic acquisitions, including the purchase of Royal Alliance's Presort business. The segment has demonstrated strong operational leverage, with EBIT margins approaching 30% and consistent volume growth despite overall mail decline trends. The company has implemented several financial optimization initiatives, including repatriating over $117 million in overseas cash, implementing cash pooling systems, and developing a receivables purchase program at Pitney Bowes Bank. These efforts have improved capital efficiency and provided additional liquidity for debt reduction and shareholder returns.
PBI company profile · for informational purposes only — not investment advice.
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