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Makes postage meters and mailing equipment, and provides shipping/e-commerce logistics and fulfillment services.
Makes postage meters and mailing equipment, and provides shipping/e-commerce logistics and fulfillment services.
Leases postage meters and sells supplies and software to businesses, so recurring income comes from lease payments and supplies, on a base that shrinks as mail volume falls. Its Presort business sorts mail to earn postal discounts. It has been winding down its parcel-delivery and e-commerce unit since 2024.
Moat: narrow (installed base, regulatory licence, switching costs). Licensed postage-meter base and long-standing mailing equipment relationships, but a declining core mail market.
Headquarters: Stamford, Connecticut, United States · Founded: 1920 · Employees: 6,600
Size Pitney Bowes (PBI) is a United States Information Technology company (Packaged Software) with a market value of $2.11B, the 1759th largest of 3,117 United States companies the cockpit tracks. Shares closed at $15.55 on 6 Nov 2026.
Performance Over six months the shares fell 1.0%, against +16.5% for the median peer and -1.1% for the United States market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 3.5% over the last twelve months (peer median +9.6%); the operating margin is 24.9% (peer median 0.1%).
Valuation It trades at 9.6× forward earnings against a peer median of 27.2× (2nd cheapest of 17).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is -12%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 31.7 points above its cost of capital (9.6% WACC).
Credit Pitney Bowes has 3 bonds outstanding ($1.18B), rated B+ by the agencies and trading like B+ at a weighted spread of 274 bp.
Short interest Short interest is 13.0% of the free float (15 Oct 2026).
Next results Next results expected around 2 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.86B | $1.89B | $2.03B | $2.08B | $3.54B |
| Revenue growth | — | -7% | -3% | -41% | — |
| Gross profit | $1.01B | $1.02B | $1.06B | $1.03B | $1.08B |
| EBITDA | $562M | $499M | $427M | $336M | $323M |
| Net income | $188M | $145M | $10.2M | -$386M | $36.9M |
| Free cash flow | $509M | $300M | $143M | -$8.55M | $51.1M |
| Capital expenditure | $65.3M | $66.3M | $72.4M | $78.1M | $125M |
| Total debt | $2.00B | $2.16B | $2.08B | $2.34B | $2.58B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Pitney Bowes PBI | $2.11B | -1% | -4% | 25% | 9.6× | -5.4% |
| FedEx FDX | $72.2B | +1% | +8% | 7% | 15.4× | 8.3% |
| United Parcel Service UPS | $92.1B | +9% | 0% | 9% | 13.6× | 3.9% |
| Quadient QDT.PA | $560M | +24% | -10% | 12% | 8.1× | -2.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PBI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | +8.4% | 5th lowest of 21 |
| 6-month return | -1.0% | +16.5% | 10th lowest of 21 |
| Distance from 52-week high | -18.5% | -30.1% | 8th highest of 21 |
| Revenue growth (TTM) | -3.5% | +9.6% | 5th lowest of 21 |
| Operating margin | 24.9% | 0.1% | 4th highest of 21 |
| Forward P/E | 9.6× | 27.2× | 2nd cheapest of 17 |
| Growth the price implies (Req g, 7 yrs) | -5.4% | 15.4% | 3rd least demanding of 16 |
| Growth delivered (Del g) | -11.8% | +13.9% | 3rd lowest of 15 |
| Hurdle (Req g minus delivered) | +6.5 pp | -2.2 pp | 7th most demanding of 15 |
| ROIC minus cost of capital | +31.7 pp | -8.9 pp | 2nd highest of 17 |
| EV / EBITDA | 6.8× | 10.0× | 2nd cheapest of 9 |
| Net debt / EBITDA | 3.1× | -1.1× | most indebted of 9 |
| Bond spread | 274 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Pitney Bowes PBI | United States | $2.11B | -1% | -4% | 25% | 9.6× | -5.4% | -11.8% |
| Five9 FIVN | United States | $2.10B | +27% | +9% | 6% | 8.1× | 17.9% | +21.4% |
| DoubleVerify DV | United States | $2.12B | +23% | +7% | 14% | 21.3× | 9.7% | +25.1% |
| Amplitude AMPL | United States | $2.09B | +161% | +18% | -27% | 109.2× | 36.9% | +27.4% |
| Embracer EMBRAC-B.ST | Sweden | $2.08B | +37% | -31% | -43% | 16.4× | -9.8% | +12.0% |
| UCloud Technology 688158.SS | China | $2.08B | -34% | +26% | 2% | 499.0× | n/a | n/a |
| Zhejiang Digital Culture Technology 600633.SS | China | $2.06B | -15% | +14% | 10% | 20.8× | 15.4% | -2.8% |
| Mobvista Incorporation 1860.HK | Hong Kong | $2.05B | -43% | +26% | 4% | 19.6× | -1.1% | +31.9% |
| Ethos Technologies LIFE | United States | $2.18B | +13% | +112% | -16% | 33.9× | 24.1% | n/a |
| SeeWay.ai 002405.SZ | China | $2.18B | -32% | +22% | -29% | n/a | n/a | n/a |
| Zhejiang Jinke Tom Culture Industry 300459.SZ | China | $2.01B | -9% | -10% | -108% | n/a | 43.2% | -12.5% |
| Justsystems 4686.T | Japan | $2.01B | +33% | +10% | 44% | n/a | -6.3% | +4.6% |
| Tianyu Digital Technology 002354.SZ | China | $2.00B | +31% | +8% | -2% | 135.3× | 25.9% | +15.8% |
| Schrodinger SDGR | United States | $2.23B | +125% | +9% | -59% | n/a | n/a | n/a |
| Pine Labs PINELABS.NS | India | $1.98B | -19% | +50% | 7% | 79.2× | n/a | n/a |
| iReader Technology 603533.SS | China | $1.98B | +20% | +14% | -2% | 91.2× | 37.2% | +9.5% |
| Aisino 600271.SS | China | $1.96B | -16% | -12% | -24% | 26.2× | n/a | n/a |
| Ourpalm 300315.SZ | China | $1.96B | -3% | -5% | -65% | 125.6× | 55.8% | -17.0% |
| Karooooo KARO | United States | $1.95B | +25% | +32% | 25% | 24.1× | 10.4% | +17.7% |
| Planisware Societe anonyme PLNW.PA | France | $1.94B | +46% | +8% | 31% | 28.2× | 12.3% | +16.8% |
| NetScout Systems NTCT | United States | $2.29B | -19% | +6% | 15% | 11.6× | -0.1% | +0.7% |
Pitney Bowes has 3 bonds outstanding with $1.18B face value. The agencies rate it B+; its bonds trade like B+. Weighted yield 7.08%, a spread of 274 bp over government bonds.