Tearsheet

Pitney Bowes (PBI)

Market Price (12/29/2025): $10.74 | Market Cap: $1.8 Bil
Sector: Industrials | Industry: Office Services & Supplies

Pitney Bowes (PBI)

Market Price (12/29/2025): $10.74
Market Cap: $1.8 Bil
Sector: Industrials
Industry: Office Services & Supplies

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 13%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 104%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%		Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -16%, Rev Chg QQuarterly Revenue Change % is -8.0%
2	Low stock price volatility Vol 12M is 43%		Key risks PBI key risks include [1] a significant debt burden restricting financial flexibility, Show more.
3	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, and Automation & Robotics. Themes include Direct-to-Consumer Brands, Last-Mile Delivery, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6%, FCF Yield is 13%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 15%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12%
2	Low stock price volatility Vol 12M is 43%
3	Megatrend and thematic drivers Megatrends include E-commerce & Digital Retail, and Automation & Robotics. Themes include Direct-to-Consumer Brands, Last-Mile Delivery, Show more.
4	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
5	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 104%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -5.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -16%, Rev Chg QQuarterly Revenue Change % is -8.0%
7	Key risks PBI key risks include [1] a significant debt burden restricting financial flexibility, Show more.

Valuation, Metrics & Events

	12/29/25	2024	2023	2022	2021
Share Price CYE	$10.74	$7.03	$4.12	$3.37	$5.59
Market Cap CYE ($ Bil)	1.8	1.3	0.7	0.6	1.0
Total Debt ($ Bil)	2.2	2.0	2.3	2.5	2.6
Total Cash ($ Bil)	0.3	0.5	0.6	0.7	0.7
Enterprise Value ($ Bil)	3.7	3.3	3.0	3.1	3.6
Valuation Ratios
P/S TTM	0.9	0.6	0.4	0.3	0.3
P/EBIT TTM	8.7	22.5	14.1	2.4	12.9
P/E TTM	22.7	-6.4	-2.0	17.9	-853.5
P/FCF TTM	8.0	8.3	389.9	7.2	9.8
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4	1.1	1.6
P/EBIT TTM (Sector)	13.0	11.8	11.2	9.1	12.3
P/E TTM (Sector)	17.3	16.5	15.4	12.1	16.3
P/FCF TTM (Sector)	13.6	13.4	12.1	8.5	14.1

	12/29/25	2024	2023
Share Price CYE	$10.74	$7.03	$4.12
Market Cap CYE ($ Bil)	1.8	1.3	0.7
Total Debt ($ Bil)	2.2	2.0	2.3
Total Cash ($ Bil)	0.3	0.5	0.6
Enterprise Value ($ Bil)	3.7	3.3	3.0
Valuation Ratios
P/S TTM	0.9	0.6	0.4
P/EBIT TTM	8.7	22.5	14.1
P/E TTM	22.7	-6.4	-2.0
P/FCF TTM	8.0	8.3	389.9
Sector Ratios
P/S TTM (Sector)	1.7	1.5	1.4
P/EBIT TTM (Sector)	13.0	11.8	11.2
P/E TTM (Sector)	17.3	16.5	15.4
P/FCF TTM (Sector)	13.6	13.4	12.1

	PBI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	1.9
Rev Chg Q	-8.0%	7.3%
Rev Chg LTM	-5.2%	6.1%
Rev Chg 3Y Avg	-15.7%	5.5%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.4
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	19.7%	18.8%
CFO/Rev LTM	15.3%	20.4%
Net Inc Mgn	4.1%	13.1%
VALUATION	LOW
P/S	0.9	3.3
P/CFO	6.1	15.8
P/FCF	8.0	20.7
P/E	22.7	23.7
STABILITY	FAIR
Debt/Equity	1.23	0.21
Cash/Assets	0.10	0.07

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Metric	Value	Date	Source
Number of Clients Worldwide	Over 600,000	2112024	Link
Customer Retention Rate for Enterprise-Level Service Contracts	96%	12312023	Link

Upcoming
2/10/2026	Earnings Release	Rev: - EPS: -

PBI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Pitney Bowes (PBI) experienced a stock decline of approximately -10.5% between August 31, 2025, and December 29, 2025, primarily due to the following key factors:

1. Q3 2025 Earnings and Revenue Miss: Pitney Bowes reported adjusted earnings per share (EPS) of $0.31 for the third quarter of 2025, which fell short of the consensus estimate of $0.32. Additionally, the company's quarterly revenue of $459.68 million missed analyst estimates of $467.45 million and represented an 8.0% year-over-year decline.

2. Revenue Decline in Core Business Segments: In Q3 2025, both of Pitney Bowes' primary segments faced revenue challenges. The SendTech Solutions segment saw a 6% revenue decrease, attributed to product migration and a shrinking mailing install base. The Presort Services segment experienced an even sharper decline of 11% in revenue, due to client losses and a contracting market.

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Stock Movement Drivers

Fundamental Drivers

The -3.9% change in PBI stock from 9/28/2025 to 12/28/2025 was primarily driven by a -7.8% change in the company's P/S Multiple.

	9282025	12282025	Change
Stock Price ($)	11.17	10.74	-3.87%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1970.91	1931.12	-2.02%
P/S Multiple	1.02	0.94	-7.79%
Shares Outstanding (Mil)	179.71	168.91	6.01%
Cumulative Contribution			-4.22%

LTM = Last Twelve Months as of date shown

Market Drivers

9/28/2025 to 12/28/2025

	Return	Correlation
PBI	-3.9%
Market (SPY)	4.3%	39.6%
Sector (XLI)	3.0%	24.9%

Fundamental Drivers

The 0.4% change in PBI stock from 6/29/2025 to 12/28/2025 was primarily driven by a 7.6% change in the company's Shares Outstanding (Mil).

	6292025	12282025	Change
Stock Price ($)	10.70	10.74	0.38%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1998.75	1931.12	-3.38%
P/S Multiple	0.98	0.94	-4.04%
Shares Outstanding (Mil)	182.87	168.91	7.64%
Cumulative Contribution			-0.20%

LTM = Last Twelve Months as of date shown

Market Drivers

6/29/2025 to 12/28/2025

	Return	Correlation
PBI	0.4%
Market (SPY)	12.6%	33.2%
Sector (XLI)	7.5%	29.1%

Fundamental Drivers

The 51.8% change in PBI stock from 12/28/2024 to 12/28/2025 was primarily driven by a 50.0% change in the company's P/S Multiple.

	12282024	12282025	Change
Stock Price ($)	7.08	10.74	51.79%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2036.89	1931.12	-5.19%
P/S Multiple	0.63	0.94	50.03%
Shares Outstanding (Mil)	180.24	168.91	6.29%
Cumulative Contribution			51.19%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2024 to 12/28/2025

	Return	Correlation
PBI	51.8%
Market (SPY)	17.0%	46.1%
Sector (XLI)	19.2%	43.8%

Fundamental Drivers

The 223.0% change in PBI stock from 12/29/2022 to 12/28/2025 was primarily driven by a 369.0% change in the company's Net Income Margin (%).

	12292022	12282025	Change
Stock Price ($)	3.32	10.74	223.03%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3613.06	1931.12	-46.55%
Net Income Margin (%)	0.88%	4.14%	368.97%
P/E Multiple	18.11	22.68	25.21%
Shares Outstanding (Mil)	173.85	168.91	2.84%
Cumulative Contribution			222.77%

LTM = Last Twelve Months as of date shown

Market Drivers

12/29/2023 to 12/28/2025

	Return	Correlation
PBI	160.8%
Market (SPY)	48.4%	38.3%
Sector (XLI)	41.4%	36.9%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
PBI Return	61%	10%	-40%	22%	71%	51%	238%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
PBI Win Rate	50%	25%	33%	58%	58%	67%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
PBI Max Drawdown	-54%	0%	-64%	-23%	-15%	-3%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See PBI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	PBI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-82.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	485.0%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-56.9%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	132.1%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	122 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-80.5%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	413.6%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-63.5%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	173.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	Not Fully Recovered days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Pitney Bowes's stock fell -82.9% during the 2022 Inflation Shock from a high on 1/26/2021. A -82.9% loss requires a 485.0% gain to breakeven.

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About Pitney Bowes (PBI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

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 and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments. The Global Ecommerce segment provides domestic parcel services, cross-border solutions, and digital delivery services. The Presort Services segment offers mail sortation services, which allow clients to qualify volumes of first-class mail, marketing mail, and bound and packet mail for postal work sharing discounts. The SendTech Solutions segment provides physical and digital mailing and shipping technology solutions, financing, services, supplies, and other applications for sending, tracking and receiving of letters, parcels, and flats. Pitney Bowes Inc. markets its products, solutions, and services through direct and inside sales force, global and regional partner channels, direct mailings, and digital channels. The company was formerly known as Pitney Bowes Postage Meter Company. Pitney Bowes Inc. was founded in 1920 and is headquartered in Stamford, Connecticut.

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1. The Xerox for mailrooms and business mailing equipment.

2. An Amazon FBA for businesses looking for external e-commerce fulfillment and shipping solutions.

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Shipping & Mailing Solutions: Provides postage meters, mailing machines, software, and supplies for businesses to process mail and parcels efficiently.
E-commerce Logistics: Offers comprehensive global fulfillment, shipping, and returns management services for online retailers.
Presort Services: Processes high volumes of outbound mail from businesses to achieve postal discounts and expedite delivery.
Financial Services: Provides leasing and financing options for Pitney Bowes equipment and related services to its clients.

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Pitney Bowes (symbol: PBI) primarily sells its products and services to other companies and organizations (B2B). Due to the broad and diverse nature of its customer base, Pitney Bowes does not typically disclose specific "major customer" companies by name in its public filings, as its revenue is derived from a vast number of businesses across various industries and sizes.

Instead, its major customer segments can be categorized by the types of companies they serve:

Businesses of All Sizes (Small, Medium, and Large Enterprises): These companies across diverse industries utilize Pitney Bowes' SendTech solutions, including postage meters, shipping software, parcel lockers, and mailing equipment, for their daily mailing, shipping, and document management needs.
High-Volume Mailers and Enterprises: This category includes large corporations, financial institutions (e.g., banks, insurance companies), healthcare providers, utilities, and government agencies. These entities leverage Pitney Bowes' Presort Services to process vast quantities of mail more efficiently and at reduced postage rates, as well as their enterprise-level mailing and document solutions.
E-commerce Retailers and Marketplaces: Companies operating in the e-commerce sector, from online retailers to larger marketplaces, are significant customers for Pitney Bowes' Global E-commerce solutions. These services facilitate cross-border shipping, fulfillment, returns, and logistics for their online sales.

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Kurt Wolf, Chief Executive Officer

Kurt Wolf was appointed Chief Executive Officer of Pitney Bowes in May 2025, having served on the board of directors since May 2023. He is an operating executive, entrepreneur, and strategic consultant. Mr. Wolf has been the Managing Member and Chief Investment Officer of Hestia Capital Management, a deep value hedge fund, since 2009. His investment background includes roles as an Analyst/Senior Analyst at Relational Investors and First Q Capital, and he was a co-Founding Partner at Lemhi Ventures. He also co-founded Definity Health, where he served as Director of Competitive Strategy. As an activist investor and founder of Hestia Capital Management, he joined Pitney Bowes' board in 2023 following a proxy battle, and was described as an "architect of Pitney Bowes' turnaround and a major shareholder."

Paul Evans, Executive Vice President, Chief Financial Officer and Treasurer

Paul Evans was appointed Executive Vice President, Chief Financial Officer, and Treasurer of Pitney Bowes in July 2025, after serving on the board of directors since 2024. He is a seasoned public company finance executive with a track record of overseeing successful financial initiatives and transformations. Prior to Pitney Bowes, he served as Chief Operating Officer at America's Auto Auction Group. His previous experience includes Interim CEO at Hill International, Inc., Chief Financial Officer of Sevan Multi-Site Solutions (a private-equity-backed construction services provider), CFO at MYR Group, Inc., CEO at Conex Energy Corporation, and Treasurer and Corporate Officer at NorthWestern Energy, Inc. Mr. Evans has also served on the boards of Hill International and GameStop Corp., where he worked alongside current Pitney Bowes CEO Kurt Wolf to recapitalize the balance sheet, eliminate debt, and enhance shareholder value.

Shemin Nurmohamed, Executive Vice President of Sending Technology Solutions

Shemin Nurmohamed serves as the Executive Vice President of Sending Technology Solutions.

Debbie Pfeiffer, Executive Vice President and President of Presort Services

Debbie Pfeiffer holds the position of Executive Vice President and President of Presort Services.

Lauren Freeman-Bosworth, Executive Vice President, General Counsel and Corporate Secretary

Lauren Freeman-Bosworth is the Executive Vice President, General Counsel, and Corporate Secretary at Pitney Bowes.

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Key Risks to Pitney Bowes (PBI)

High Debt Levels: Pitney Bowes faces a significant risk due to its substantial debt, which currently exceeds $2 billion. This heavy debt burden leads to considerable interest payments that impact profitability and restrict the company's financial flexibility. The high leverage also exposes PBI to potential defaults if cash flow deteriorates and increases refinancing risk, especially in an environment of fluctuating interest rates.
Declining Revenue and Industry Trends: The company's core mailing and shipping businesses, particularly the SendTech segment, continue to experience declining revenue. This is primarily attributed to structural declines in traditional mail volumes and an ongoing industry-wide shift towards digital solutions and e-commerce logistics. Despite efforts to improve margins through cost controls and exiting the e-commerce business, sustained top-line growth remains elusive, posing a long-term challenge to the company's relevance in an evolving market.
Uncertain Strategic Execution and Intense Competition: Pitney Bowes is undergoing strategic realignments, including a focus on its core businesses and cost-cutting initiatives. However, there is uncertainty regarding the company's ability to successfully execute its digital transformation, innovate effectively, and regain market share. PBI operates in a highly competitive environment, facing pressure from larger tech companies and specialized players, which necessitates continuous investment in research and development that Pitney Bowes may struggle to fund adequately.

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A clear emerging threat for Pitney Bowes (PBI) is the increasing tendency of major e-commerce platforms to develop their own integrated logistics, fulfillment, and shipping services. Platforms such as Shopify, with initiatives like the Shopify Fulfillment Network, are building comprehensive capabilities directly for their merchant base. This trend threatens third-party logistics providers like Pitney Bowes by offering merchants a seamless, platform-native alternative for services that PBI provides (e.g., cross-border shipping, fulfillment, and delivery). These platforms can leverage their direct relationships, data, and ecosystem integration to offer competitive or even superior services, potentially disintermediating PBI from a significant portion of the e-commerce logistics market, particularly impacting its Global E-commerce Solutions segment.

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Pitney Bowes (NYSE: PBI) operates primarily in two main segments: SendTech Solutions and Presort Services. The company recently exited its Global Ecommerce segment. Here are the addressable market sizes for its main products and services:

SendTech Solutions

This segment provides mailing and shipping technology, including postage meters, mailing equipment, digital shipping solutions, mailing innovation, shipping software, and related financial services. The global postage meter machine market, a component of SendTech Solutions, was valued at USD 148.50 million in 2022 and is projected to reach USD 169.40 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 1.90% from 2022 to 2030. The United States holds the largest share of this market.

Presort Services

Pitney Bowes' Presort Services segment offers mail sortation services, enabling clients to qualify for U.S. Postal Service (USPS) workshare discounts for various mail types, including First-Class Mail, Marketing Mail, Marketing Mail Flats, and Bound Printed Matter. Pitney Bowes is recognized as the largest workshare partner of the USPS. While a specific total addressable market size in U.S. dollars for mail presort services was not available, Pitney Bowes' Presort Services business processes approximately 17 billion pieces of mail annually.

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Expected Drivers of Future Revenue Growth for Pitney Bowes (PBI)

Over the next 2-3 years, Pitney Bowes (PBI) is expected to drive future revenue growth through several key initiatives:

Expansion of SendTech's E-commerce Shipping and SaaS Solutions: Pitney Bowes anticipates long-term, enterprise-wide revenue growth from SendTech's expansion into the e-commerce shipping category and its focus on SaaS shipping solutions. The appointment of Todd Everett as President of SendTech aims to leverage his expertise in shipping software to pursue profitable growth for the segment. Investments in this area have previously led to over 20% year-over-year growth in shipping within SendTech.
Strategic Acquisitions in Presort Services: The company plans to grow its Presort Services segment through "roll-up acquisitions". A recent example is the acquisition of Royal Alliances' presort business in January 2025, which is projected to add over 100 million First-Class™ Mail pieces annually to the Pitney Bowes Presort Services Network. Management has indicated that there are numerous opportunities for such acquisitions to drive meaningful growth beyond organic expansion.
Realization of Profitable Growth Opportunities from Strategic Review: Pitney Bowes is actively conducting a strategic review to identify and evaluate profitable growth opportunities, which is expected to enhance its talent, structure, and processes to support future business expansion. This ongoing review is a key part of the company's efforts to strengthen its outlook.
Enhanced Focus on Profitable Segments within Global Ecommerce: While undergoing restructuring, the Global Ecommerce segment is concentrating on profitable areas such as cross-border logistics services, including fulfillment, delivery, and returns across the U.S. and internationally. Pitney Bowes aims to simplify international e-commerce for clients by offering services like Landed Cost Calculation and cost-effective shipping options to foster overseas business growth.
Price Increases in Presort Services: Recent financial reporting indicates that price adjustments in the Presort Services segment have positively impacted revenue. For instance, a price increase in Q3 2024 significantly boosted both revenue and EBIT for the segment. This suggests that strategic pricing remains a potential driver for revenue growth within this high-contribution margin business.

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Capital Allocation Decisions for Pitney Bowes (PBI)

Share Repurchases

On February 11, 2025, Pitney Bowes' Board of Directors authorized a new share repurchase program amounting to $150 million.
In August 2025, the company utilized approximately $61.9 million of net proceeds from a convertible senior notes offering to repurchase shares of its common stock through privately negotiated transactions.
No repurchases of common stock were made during 2021.

Share Issuance

In August 2025, Pitney Bowes completed an offering of $230 million aggregate principal amount of 1.50% convertible senior notes due 2030, generating net proceeds of approximately $221.4 million.
The number of shares outstanding for Pitney Bowes increased in 2021, 2022, 2023, and 2024, before showing a decrease in 2025.

Outbound Investments

Pitney Bowes is increasing its investment in Ambi Robotics, a logistics technology startup that specializes in artificial intelligence (AI) for parcel sortation.
The company has been in the process of exiting its Global Ecommerce (GEC) business, a strategic divestment aimed at eliminating approximately $136 million in annualized losses and improving future earnings.

Capital Expenditures

Pitney Bowes reported capital expenditures of $184 million in 2021, $124.8 million in 2022, and $102.9 million in 2023.
Expected capital expenditures for 2024 and 2025 are approximately $72.4 million and $72.39 million, respectively.
In 2021, capital expenditures focused on investments in Global Ecommerce and Presort Services. More recent expenditures have been directed towards automation, expanded delivery services, and robotics solutions.

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Parker Hannifin

GE (20.5%)

GE Aerospace

MMM (20.5%)

Higher CFO/Rev LTM (Value for PBI: 15.3%)

UNP (39.6%)

Union Pacific

UBER (18.1%)

Uber Technologies

CAT (17.8%)

Caterpillar

GE (17.2%)

GE Aerospace

DE (16.7%)

Deere

Higher FCF/Rev LTM (Value for PBI: 11.8%)

UNP (24.5%)

Union Pacific

UBER (17.5%)

Uber Technologies

HON (15.2%)

Honeywell International

GE (14.7%)

GE Aerospace

ETN (12.5%)

Eaton

Higher Total Yield (Value for PBI: 5.6%)

UBER (9.8%)

Uber Technologies

UNP (7.4%)

Union Pacific

HON (7.2%)

Honeywell International

ADP (6.3%)

Automatic Data Processing

LMT (5.8%)

Lockheed Martin

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for PBI: -15.7% | 0.9x)

UNH (11.4% | 0.7x)

UnitedHealth

CMCSA (0.7% | 0.9x)

Comcast

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

DELL (0.2% | 0.8x)

Dell Technologies

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PBI: -15.7% | 4.8x)

IBKR (48.1% | 3.5x)

Interactive Brokers

CHTR (1.3% | 2.1x)

Charter Communications

EIX (3.1% | 4.4x)

Edison International

BCE (0.8% | 3.9x)

BCE

RCI (11.8% | 4.1x)

Rogers Communications

Higher Rev Chg LTM (Value for PBI: -5.2%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for PBI: -15.7%)

NVDA (91.6%)

NVIDIA

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for PBI: 19.7%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for PBI: 15.3%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for PBI: 11.8%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for PBI: 5.6%)

XOM (9.2%)

Exxon Mobil

JNJ (7.5%)

Johnson & Johnson

BAC (7.1%)

Bank of America

JPM (6.4%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

		Best Bets In Industrials Sector
	PBI	GATX	VRSK	PAYX	ADT	AGX	PCTY	TDG	FTV	VRRM	CSW
What You Pay
P/E	22.7	19.9	33.4	25.7	10.4	37.5	37.9	36.7	30.6	70.3	35.9
P/EBIT	8.7	9.6	22.8	17.7	5.2	37.6	27.2	18.1	14.9	20.8	27.7
What You Get
Rev Chg Q	-8.0%	8.4%	5.9%	18.3%	4.4%	-2.3%	12.5%	11.5%	2.3%	16.1%	21.5%
Rev Chg LTM	-5.2%	10.7%	7.3%	12.4%	6.3%	13.5%	13.3%	11.2%	27.9%	8.5%	14.9%
Rev Chg 3Y Avg	-15.7%	10.3%	13.4%	7.9%	3.4%	26.9%	21.4%	17.7%	9.4%	9.1%	11.3%
FCF/Rev 3Y Avg	6.5%	39.2%	33.2%	32.6%	24.7%	24.5%	21.5%	21.0%	20.1%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Pitney Bowes Earnings Notes
2	How Low Can Pitney Bowes Stock Really Go?	Return
3	Pitney Bowes vs Verizon Communications: Which Is A Better Investment?	Counter-Intuitive Comparisons
4	Pitney Bowes vs Owens-Corning: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	How Does Pitney Bowes Stock Stack Up Against Its Peers?
6	Better Bet Than PBI Stock: Pay Less Than Pitney Bowes To Get More From EIX, AA
7	Pitney Bowes (PBI) EBITDA Comparison	Financials
8	Pitney Bowes (PBI) Operating Cash Flow Comparison	Financials
9	Pitney Bowes (PBI) Debt Comparison	Financials
10	Pitney Bowes (PBI) Revenue Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to PBI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.3%	18.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.5%	5.5%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.1%	7.1%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.9%	2.9%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	5.7%	5.7%	-0.4%
PBI_1312021_Short_Squeeze	01312021	PBI	Pitney Bowes	Special	Short Squeeze PotentialShort Squeeze Potential Has potential for a short squeeze. High short interest, rising short interest and high debt.	-13.3%	-32.4%	-36.6%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Pitney Bowes

Peers to compare with:

Financials

	PBI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Pitney B.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	10.74	23.26	24.49	305.09	78.16	273.40	51.32
Mkt Cap	1.8	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	1,931	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	381	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	228	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	128	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	296	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	212	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	PBI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Pitney B.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	-5.2%	3.2%	13.8%	4.5%	8.9%	6.0%	5.2%
Rev Chg 3Y Avg	-15.7%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.2%
Rev Chg Q	-8.0%	4.2%	14.4%	9.1%	7.5%	9.6%	8.3%
QoQ Delta Rev Chg LTM	-2.0%	1.1%	3.7%	2.1%	1.8%	2.1%	2.0%
Op Mgn LTM	19.7%	6.6%	4.8%	17.7%	22.5%	31.9%	18.7%
Op Mgn 3Y Avg	15.5%	7.4%	7.2%	16.4%	24.2%	30.8%	15.9%
QoQ Delta Op Mgn LTM	1.9%	-0.2%	-1.4%	0.6%	0.4%	0.1%	0.2%
CFO/Rev LTM	15.3%	6.7%	8.5%	20.6%	23.8%	26.6%	18.0%
CFO/Rev 3Y Avg	10.8%	6.8%	12.7%	21.4%	26.1%	28.4%	17.1%
FCF/Rev LTM	11.8%	5.1%	1.8%	18.1%	22.1%	23.5%	15.0%
FCF/Rev 3Y Avg	6.5%	5.5%	4.6%	18.6%	24.6%	25.6%	12.6%

Valuation

	PBI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Pitney B.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	1.8	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	0.9	0.4	1.0	4.4	5.4	10.0	2.7
P/EBIT	8.7	6.8	19.9	25.1	22.5	31.3	21.2
P/E	22.7	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	6.1	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	5.6%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	1.2%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	9.8%	10.6%	5.5%	6.4%	6.0%	3.1%	6.2%
D/E	1.2	0.5	0.7	0.2	0.1	0.0	0.4
Net D/E	1.0	0.3	0.6	0.2	0.0	0.0	0.3

Returns

	PBI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Pitney B.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	8.9%	-3.6%	12.7%	-1.1%	1.6%	-2.0%	0.2%
3M Rtn	-3.9%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	0.4%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	51.8%	-27.0%	16.2%	40.5%	34.5%	7.5%	25.3%
3Y Rtn	223.0%	-3.7%	67.3%	141.3%	79.6%	114.1%	96.9%
1M Excs Rtn	6.1%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.1%
3M Excs Rtn	-8.2%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-11.9%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	36.2%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	9.6%
3Y Excs Rtn	140.0%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	13.6%

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/30/2025	2/21/2025	2/20/2024	2/17/2023	2/22/2022	2/19/2021	2/20/2020
Key Financials
Total Revenue	1,931	2,027	2,079	2,483	3,674	3,554	3,205
EBITDA	321	172	168	387	252	83	297
Operating Income	381	312	220	280	151	148	227
Net Income	80	-204	-386	37	-1	-180	194
EPS	0.47	-1.13	-2.20	0.21	-0.01	-1.05	1.10
Growth Rates
Total Revenue Growth	-5.2%	-2.5%	-16.3%	-32.4%	3.4%	10.9%	-0.2%
EBITDA Growth	102.3%	2.8%	-56.7%	53.4%	204.0%	-72.0%	-34.3%
Operating Income Growth	49.1%	42.3%	-21.7%	85.6%	2.3%	-35.0%	-36.8%
Net Income Growth	120.5%	47.2%	-1143.9%	2834.3%	99.3%	-192.8%	-19.6%
Margins
EBITDA Margin	16.6%	8.5%	8.1%	15.6%	6.9%	2.3%	9.3%
Operating Income Margin	19.7%	15.4%	10.6%	11.3%	4.1%	4.2%	7.1%
Net Income Margin	4.1%	-10.0%	-18.5%	1.5%	-0.0%	-5.1%	6.1%
Cash & Debt
Total Cash	336	486	622	681	747	940	1,040
Total Debt	2,225	2,047	2,302	2,524	2,556	2,784	2,953
Net Debt / (Cash)	1,889	1,561	1,680	1,842	1,809	1,843	1,913
Cash Flows
Net Cash from Operations	296	229	80	175	302	302	268
Free Cash from Operations	228	157	2	92	117	197	131
Returns to Shareholders
Dividends	46	36	35	35	35	34	35
Share Repurchases	252	-0	-0	13	-0	-0	105

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	10/30/2025	7/31/2025	5/8/2025	2/21/2025	11/8/2024	8/9/2024	5/2/2024	2/20/2024	11/2/2023	8/3/2023	5/5/2023	2/17/2023
Key Financials Quarterly
Total Revenue	460	462	493	516	499	490	521	526	503	776	835	-146
Ebitda	122	93	99	7	12	49	104	-6	58	-88	51	177
Operating Income	95	71	97	118	65	51	79	61	65	13	12	189
Net Income	52	30	35	-37	-138	-25	-3	-224	-13	-142	-8	6
EPS	0.31	0.17	0.19	-0.20	-0.77	-0.14	-0.02	-1.27	-0.07	-0.81	-0.04	0.04
Key Financials TTM
Total Revenue TTM	1,931	1,971	1,999	2,027	2,037	2,040	2,327	2,640	1,968	2,295	2,390	2,483
Ebitda TTM	321	212	168	172	159	204	67	15	198	213	363	401
Operating Income TTM	381	351	330	312	256	255	217	151	278	243	254	282
Net Income TTM	80	-110	-165	-204	-390	-264	-381	-386	-155	-137	8	37
Growth Rates Quarterly
Total Revenue Growth	-8.0%	-5.7%	-5.3%	-2.0%	-0.7%	-36.9%	-37.5%	459.4%	-39.5%	-10.9%	-10.0%	-114.9%
EBITDA Growth	877.1%	90.2%	-4.3%	212.2%	-78.5%	155.4%	102.5%	-103.6%	-20.6%	-242.7%	-42.5%	167.0%
Operating Income Growth	46.6%	40.6%	22.8%	92.7%	0.5%	297.4%	549.2%	-67.5%	117.5%	-45.6%	-69.9%	471.2%
Net Income Growth	137.5%	220.5%	1327.8%	83.3%	-1006.1%	82.4%	62.7%	-3655.2%	-328.2%	-3364.2%	-137.2%	396.9%
Margins Quarterly
EBITDA Margin	26.5%	20.1%	20.1%	1.4%	2.5%	10.0%	19.9%	-1.2%	11.5%	-11.4%	6.1%	-
Operating Income Margin	20.7%	15.5%	19.6%	22.9%	13.0%	10.4%	15.1%	11.6%	12.8%	1.6%	1.5%	-
Net Income Margin	11.3%	6.5%	7.2%	-7.2%	-27.7%	-5.1%	-0.6%	-42.5%	-2.5%	-18.2%	-0.9%	-
Cash & Debt
Total Cash	336	301	340	486	576	612	538	622	579	561	527	681
Total Debt	2,225	2,024	2,041	2,047	2,256	2,447	2,466	2,302	2,496	2,458	2,483	2,524
Net Debt / (Cash)	1,889	1,723	1,701	1,561	1,680	1,835	1,928	1,680	1,917	1,897	1,956	1,842
Cash Flows Quarterly
FCF from Operations	67	111	-17	134	15	93	-13	94	26	-0	-40	166
Cash Flows TTM
FCF from Operations TTM	296	244	225	229	189	200	107	80	152	90	125	175
Returns to Shareholders Quarterly
Dividends	13	13	11	9	9	9	9	9	9	9	9	9
Share Repurchases	162	75	15	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	15.3%	12.7%	17.2%	26.4%	15.4%	11.1%	11.0%	14.4%	8.9%	2.5%	1.7%	30.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	14.3%	20.4%	19.4%	20.0%	15.2%	13.9%	11.3%	8.8%	14.5%	12.8%	10.0%	11.8%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
SendTech Solutions	1,328	1,360	1,398	1,414	1,524
Presort Services	618	602	573	521	530
Other	133
Global Ecommerce		1,576	1,703	1,619	1,152
Total	2,079	3,538	3,674	3,554	3,205

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
SendTech Solutions	2,081	2,023	2,013	2,071	2,153
Cash and cash equivalents	600	670	732	921	924
Assets of discontinued operations	532				17
Presort Services	501	510	479	524	525
Other corporate assets	285	271	354	330	391
Long-term investments	250	260	333	364	239
Short-term investments	22	11	14	19	116
Global Ecommerce		996	1,032	995	1,102
Total	4,272	4,741	4,959	5,224	5,467

Price Behavior

Price Behavior

Market Price	$10.74
Market Cap ($ Bil)	1.8
First Trading Date	06/01/1972
Distance from 52W High	-14.6%
	50 Days	200 Days
DMA Price	$10.15	$10.28
DMA Trend	indeterminate	down
Distance from DMA	5.8%	4.5%
	3M	1YR
Volatility	35.4%	43.5%
Downside Capture	86.32	80.31
Upside Capture	49.75	109.07
Correlation (SPY)	38.0%	46.2%

PBI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.73	1.32	1.26	1.36	1.07	1.25
Up Beta	0.47	1.21	1.45	1.64	0.91	1.09
Down Beta	0.40	2.16	2.04	1.69	1.29	1.19
Up Capture	73%	38%	15%	82%	118%	361%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	7	19	28	58	119	360
Down Capture	90%	146%	142%	137%	101%	106%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	13	23	33	64	123	367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of PBI With Other Asset Classes (Last 1Y)
	PBI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	53.0%	19.3%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	43.1%	18.8%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	1.10	0.80	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		43.9%	46.2%	-8.2%	4.0%	41.0%	24.8%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of PBI With Other Asset Classes (Last 5Y)
	PBI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	18.8%	13.8%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	67.2%	17.2%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	0.51	0.65	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		31.8%	32.9%	4.1%	10.3%	31.5%	14.1%

Based On 10-Year Data

		Comparison of PBI With Other Asset Classes (Last 10Y)
	PBI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-1.4%	13.5%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	64.8%	19.9%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.24	0.60	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		40.0%	37.9%	-0.8%	15.1%	32.5%	9.7%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	19,673,317
Short Interest: % Change Since 11302025	0.9%
Average Daily Volume	2,778,475
Days-to-Cover Short Interest	7.08
Basic Shares Quantity	168,908,000
Short % of Basic Shares	11.6%

Returns Analyses

	Title
0	How Low Can Pitney Bowes Stock Really Go?
1	Pitney Bowes Stock Return Comparison
2	Pitney Bowes (PBI) Stock Return: AI Predicts PBI Average and Excess Return After a Fall or Rise

Earnings Returns History

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	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/29/2025	-10.5%	-15.4%	-11.8%
7/30/2025	-0.2%	0.2%	6.6%
5/7/2025	5.1%	5.0%	18.5%
1/23/2025	12.6%	22.0%	41.8%
11/7/2024	-5.8%	-9.8%	-1.4%
8/8/2024	10.7%	27.1%	14.9%
5/2/2024	24.7%	23.5%	30.0%
2/1/2024	1.0%	-5.4%	2.8%
...
SUMMARY STATS
# Positive	12	14	12
# Negative	13	11	13
Median Positive	9.9%	5.7%	16.7%
Median Negative	-11.9%	-13.6%	-11.8%
Max Positive	25.6%	83.7%	102.8%
Max Negative	-28.5%	-26.2%	-26.7%

	Forward Returns
10/29/2025	-10.5%	-15.4%	-11.8%
7/30/2025	-0.2%	0.2%	6.6%
5/7/2025	5.1%	5.0%	18.5%
1/23/2025	12.6%	22.0%	41.8%
11/7/2024	-5.8%	-9.8%	-1.4%
8/8/2024	10.7%	27.1%	14.9%
5/2/2024	24.7%	23.5%	30.0%
2/1/2024	1.0%	-5.4%	2.8%
11/2/2023	25.6%	28.1%	37.4%
8/3/2023	-10.0%	-7.6%	-12.2%
5/4/2023	-11.9%	-4.9%	7.8%
1/31/2023	-0.5%	2.5%	7.5%
11/1/2022	9.0%	2.9%	24.7%
7/28/2022	-17.6%	-21.0%	-21.6%
4/28/2022	23.4%	18.3%	6.3%
2/1/2022	-15.4%	-21.9%	-17.3%
11/3/2021	7.0%	6.4%	-4.1%
8/3/2021	-3.2%	1.4%	-6.3%
4/30/2021	-14.5%	-13.5%	-3.5%
2/2/2021	-19.2%	-13.6%	-19.5%
10/30/2020	-28.5%	-21.5%	-22.6%
7/30/2020	12.5%	83.7%	102.8%
5/4/2020	-14.0%	-26.2%	-26.7%
2/4/2020	2.8%	2.3%	-11.6%
11/5/2019	7.1%	0.2%	-2.5%
SUMMARY STATS
# Positive	12	14	12
# Negative	13	11	13
Median Positive	9.9%	5.7%	16.7%
Median Negative	-11.9%	-13.6%	-11.8%
Max Positive	25.6%	83.7%	102.8%
Max Negative	-28.5%	-26.2%	-26.7%

SEC Filings

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Report Date	Filing Date	Filing
09/30/2025	10/30/2025	10-Q (09/30/2025)
06/30/2025	07/31/2025	10-Q (06/30/2025)
03/31/2025	05/08/2025	10-Q (03/31/2025)
12/31/2024	02/21/2025	10-K (12/31/2024)
09/30/2024	11/08/2024	10-Q (09/30/2024)
06/30/2024	08/09/2024	10-Q (06/30/2024)
03/31/2024	05/02/2024	10-Q (03/31/2024)
12/31/2023	02/20/2024	10-K (12/31/2023)
09/30/2023	11/02/2023	10-Q (09/30/2023)
06/30/2023	08/03/2023	10-Q (06/30/2023)
03/31/2023	05/05/2023	10-Q (03/31/2023)
12/31/2022	02/17/2023	10-K (12/31/2022)
09/30/2022	11/04/2022	10-Q (09/30/2022)
06/30/2022	08/02/2022	10-Q (06/30/2022)
03/31/2022	05/05/2022	10-Q (03/31/2022)
12/31/2021	02/22/2022	10-K (12/31/2021)

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Pitney Bowes (PBI)

Market Price (12/29/2025): $10.74 | Market Cap: $1.8 BilSector: Industrials | Industry: Office Services & Supplies

Pitney Bowes (PBI)

Market Price (12/29/2025): $10.74Market Cap: $1.8 BilSector: IndustrialsIndustry: Office Services & Supplies

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

PBI Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Pitney Bowes (PBI)

Key Risks to Pitney Bowes (PBI)

SendTech Solutions

Presort Services

Expected Drivers of Future Revenue Growth for Pitney Bowes (PBI)

Capital Allocation Decisions for Pitney Bowes (PBI)

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Pitney Bowes (PBI)

INDUSTRY: Office Services & Supplies

Higher Rev Chg 3Y Avg | Lower P/S (Values for PBI: -15.7% | 0.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PBI: -15.7% | 4.8x)

Higher Rev Chg LTM (Value for PBI: -5.2%)

Higher Rev Chg 3Y Avg (Value for PBI: -15.7%)

Higher Op Mgn LTM (Value for PBI: 19.7%)

Higher CFO/Rev LTM (Value for PBI: 15.3%)

Higher FCF/Rev LTM (Value for PBI: 11.8%)

Higher Total Yield (Value for PBI: 5.6%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for PBI: -15.7% | 0.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PBI: -15.7% | 4.8x)

Higher Rev Chg LTM (Value for PBI: -5.2%)

Higher Rev Chg 3Y Avg (Value for PBI: -15.7%)

Higher Op Mgn LTM (Value for PBI: 19.7%)

Higher CFO/Rev LTM (Value for PBI: 15.3%)

Higher FCF/Rev LTM (Value for PBI: 11.8%)

Higher Total Yield (Value for PBI: 5.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for PBI: -15.7% | 0.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for PBI: -15.7% | 4.8x)

Higher Rev Chg LTM (Value for PBI: -5.2%)

Higher Rev Chg 3Y Avg (Value for PBI: -15.7%)

Higher Op Mgn LTM (Value for PBI: 19.7%)

Higher CFO/Rev LTM (Value for PBI: 15.3%)

Higher FCF/Rev LTM (Value for PBI: 11.8%)

Higher Total Yield (Value for PBI: 5.6%)

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Valuation

Market Price (12/29/2025): $10.74 | Market Cap: $1.8 Bil
Sector: Industrials | Industry: Office Services & Supplies

Market Price (12/29/2025): $10.74
Market Cap: $1.8 Bil
Sector: Industrials
Industry: Office Services & Supplies