PBI

MKT CAP:$3B

Pitney Bowes Inc.

Market Cap

$3B

Industrials·Integrated Freight & Logistics·🇺🇸 United States·NYSE

Industrials·Integrated·🇺🇸·NYSE

Stock Price

$15.37+$5.04 (+48.79%)

Apr 23, 2026

Company Details

Pitney Bowes Inc., a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States, Canada, and internati...

CEO

Kurt Wolf

IPO Date

Jun 1, 1972

Website

www.pitneybowes.com

Key Metrics TTM

Revenue

$1.9B

-18.2% YoY

Net Income

$145M

EPS (Diluted)

$0.82

Free Cash Flow

$329M

Revenue / Share

$12.01

Gross Margin

54.1%

Operating Margin

20.4%

Net Margin

7.6%

FCF Margin

17.4%

P/S

1.4x

P/E

18.5x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 19, 2026

$1.9BEPS $0.84

Q4 2025

Feb 19, 2026

$478MEPS $0.17

Q3 2025

Oct 30, 2025

$460MEPS $0.29

Q2 2025

Jul 31, 2025

$462M-5.7%EPS $0.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$899M	$289M	$41M
Q3 21	$875M	$274M	$44M
Q4 21	$984M	$272M	$33M
Q1 22	$927M	$295M	$37M
Q2 22	$871M	$261M	$6M
Q3 22	$831M	$250M	$7M
Q4 22	$909M	$274M	$110M
Q1 23	$835M	$263M	$12M
Q2 23	$776M	$244M	$17M
Q4 23	$526M	$268M	$61M
Q1 24	$521M	$273M	$78M
Q2 24	$490M	$250M	$50M
Q1 25	$493M	$269M	$98M
Q2 25	$462M	$248M	$73M
Q3 25	$460M	$244M	$97M
Q4 25	$478M	$263M	$118M

Valuation

Quarter	P/S	P/E
Q2 21	0.8x	724.8x
Q3 21	0.7x	214.6x
Q4 21	0.7x	764.1x
Q1 22	0.7x	51.5x
Q2 22	0.7x	75.6x
Q3 22	0.7x	82.6x
Q4 22	0.8x	72.5x
Q1 23	0.8x	319.7x
Q2 23	0.8x	—
Q4 23	0.9x	—
Q1 24	1.0x	—
Q2 24	1.2x	—
Q1 25	1.3x	—
Q2 25	1.4x	71.2x
Q3 25	1.4x	29.0x
Q4 25	1.4x	18.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	$79M	$38M
Q3 21	$71M	$14M
Q4 21	$85M	$42M
Q1 22	$11M	-$22M
Q2 22	$35M	$4M
Q3 22	-$36M	-$70M
Q4 22	$167M	$139M
Q1 23	-$40M	-$68M
Q2 23	-$44.0K	-$26M
Q4 23	$94M	$69M
Q1 24	-$13M	-$32M
Q2 24	$93M	$72M
Q1 25	-$17M	-$34M
Q2 25	$111M	$98M
Q3 25	$67M	$51M
Q4 25	$234M	$213M

Capital Expenditures

Quarter	CapEx
Q2 21	$40M
Q3 21	$57M
Q4 21	$43M
Q1 22	$33M
Q2 22	$32M
Q3 22	$33M
Q4 22	$27M
Q1 23	$29M
Q2 23	$26M
Q4 23	$25M
Q1 24	$20M
Q2 24	$21M
Q1 25	$17M
Q2 25	$13M
Q3 25	$16M
Q4 25	$20M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+12.9%	+13.1%
Q3 21	+4.5%	+2.9%
Q4 21	+10.3%	+10.9%
Q1 22	+1.3%	+1.4%
Q2 22	-3.1%	+0.9%
Q3 22	-5.1%	-0.9%
Q4 22	-7.6%	-16.0%
Q1 23	-10.0%	-7.6%
Q2 23	-10.9%	-12.3%
Q4 23	-36.6%	-43.6%
Q1 24	-42.6%	-44.5%
Q2 24	-41.3%	-46.6%
Q1 25	-36.5%	-48.0%
Q2 25	-12.3%	-16.5%
Q3 25	-11.8%	-18.1%
Q4 25	-2.5%	-18.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$7M	0.8%
Q3 21	$3M	0.4%
Q4 21	$5M	0.6%
Q1 22	$4M	0.5%
Q2 22	$5M	0.6%
Q3 22	$5M	0.6%
Q4 22	$1M	0.2%
Q1 23	$3M	0.4%
Q2 23	$3M	0.4%
Q4 23	$2M	0.4%
Q1 24	$2M	0.5%
Q2 24	$4M	0.9%
Q1 25	$3M	0.5%
Q2 25	$10M	2.1%
Q3 25	$3M	0.6%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q2 21	$11M	$237M
Q3 21	$11M	$219M
Q4 21	$14M	$225M
Q1 22	$11M	$246M
Q2 22	$11M	$244M
Q3 22	$10M	$234M
Q4 22	$11M	$153M
Q1 23	$10M	$241M
Q2 23	$10M	$217M
Q4 23	$8M	$198M
Q1 24	$8M	$187M
Q2 24	$7M	$193M
Q1 25	$5M	$166M
Q2 25	$4M	$171M
Q3 25	$3M	$144M
Q4 25	$4M	$141M

Revenue Segments

Quarter	Business Services	Equipment Sales	Financing	Rentals	Supplies Product	Support Services	Financial and other	Product	Service
Q2 21	$567M	$86M	$73M	$19M	$39M	$115M	—	—	—
Q3 21	$551M	$83M	$72M	$17M	$38M	$113M	—	—	—
Q4 21	$646M	$94M	$71M	$19M	$40M	$114M	—	—	—
Q1 22	$597M	$89M	$72M	$17M	$41M	$110M	—	—	—
Q2 22	$551M	$90M	$67M	$17M	$38M	$108M	—	—	—
Q3 22	$518M	$84M	$68M	$16M	$37M	$108M	—	—	—
Q4 22	$583M	$92M	$67M	$16M	$37M	$113M	—	—	—
Q1 23	$523M	$83M	$67M	$17M	$39M	$105M	—	—	—
Q2 23	$473M	$79M	$67M	$17M	$37M	$103M	—	—	—
Q1 25	—	—	—	—	—	—	$82M	$93M	$318M
Q2 25	—	—	—	—	—	—	$81M	$91M	$290M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$623M	$11M	$634M
Q2 22	$571M	$12M	$582M
Q3 22	$597M	$10M	$607M
Q4 22	$670M	$11M	$681M
Q1 23	$512M	$16M	$527M
Q2 23	$542M	$19M	$561M
Q3 23	$558M	$22M	$579M
Q4 23	$601M	$22M	$623M
Q1 24	$516M	$22M	$538M
Q2 24	$590M	$22M	$612M
Q3 24	$562M	$14M	$576M
Q4 24	$470M	$16M	$486M
Q1 25	$324M	$16M	$340M
Q2 25	$285M	$16M	$301M
Q3 25	$321M	$15M	$336M
Q4 25	$285M	$12M	$297M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	179M	+3.5%	+4.7%
Q3 21	179M	+0.2%	+4.6%
Q4 21	180M	+0.1%	+2.7%
Q1 22	178M	-0.8%	+3.0%
Q2 22	177M	-0.6%	-1.1%
Q3 22	177M	-0.0%	-1.4%
Q4 22	178M	+0.6%	-0.8%
Q1 23	175M	-1.9%	-1.9%
Q2 23	176M	+0.6%	-0.7%
Q4 23	176M	+0.4%	-0.3%
Q1 24	177M	+0.4%	-0.6%
Q2 24	179M	+1.0%	+2.3%
Q1 25	183M	+2.1%	+3.9%
Q2 25	181M	-0.8%	+2.6%
Q3 25	181M	0.0%	+2.3%
Q4 25	158M	-13.0%	-11.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$78.2K	12K
Q3 21	$76.1K	12K
Q4 21	$85.5K	12K
Q1 22	$80.6K	12K
Q2 22	$75.8K	12K
Q3 22	$72.3K	12K
Q4 22	$82.6K	11K
Q1 23	$75.9K	11K
Q2 23	$70.6K	11K
Q4 23	$50.1K	11K
Q1 24	$49.6K	11K
Q2 24	$46.6K	11K
Q1 25	$68.5K	7K
Q2 25	$64.2K	7K
Q3 25	$63.8K	7K
Q4 25	$72.4K	7K

Revenue / Employee