PBI · Pitney Bowes Inc /De/ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.89B | $2.03B | $3.27B | $3.54B | $3.67B | $3.55B |
| Cost of Revenue | - | $964.30M | - | - | $2.55B | $2.41B |
| Gross Profit | - | $1.06B | - | - | $1.12B | $1.15B |
| R&D | $15.28M | $31.96M | $41.41M | $43.66M | $46.78M | $38.38M |
| SG&A | $621.57M | $717.89M | $897.26M | $905.57M | $924.16M | $963.32M |
| Total Operating Expenses | $1.70B | $1.11B | $3.67B | $3.50B | $1.13B | $1.33B |
| D&A | $111.58M | $114.48M | $160.43M | $163.82M | $162.86M | $160.63M |
| Operating Income | $192.52M | ($52.33M) | ($406.50M) | $39.88M | ($183.37M) | ($184.93M) |
| Interest Expense | - | - | $100.44M | $89.98M | $96.89M | $105.75M |
| Income Tax | $47.83M | ($154.83M) | ($20.88M) | $2.94M | ($10.92M) | $6.73M |
| Net Income | $144.70M | ($203.60M) | ($385.63M) | $36.94M | ($1.35M) | ($181.54M) |
| EPS - Basic | $0.84 | ($1.13) | ($2.20) | $0.21 | ($0.01) | ($1.06) |
| EPS - Diluted | $0.84 | ($1.12) | ($2.20) | $0.21 | ($0.01) | ($1.06) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $284.89M | $469.73M | $601.05M | $669.98M | $732.48M | $921.45M |
| Accounts Receivable | $168.10M | $159.95M | $342.24M | $343.56M | $334.63M | $389.24M |
| Inventory | $66.24M | $59.84M | $70.05M | $83.72M | $78.59M | $65.84M |
| Accounts Payable | $230.04M | $239.74M | $282.43M | $315.35M | $310.99M | $295.17M |
| Current Assets | $1.10B | $1.32B | $1.69B | $1.80B | $1.89B | $2.11B |
| Total Assets | $3.17B | $3.40B | $4.27B | $4.74B | $4.96B | $5.22B |
| Current Liabilities | $1.55B | $1.67B | $1.73B | $1.73B | $1.73B | $1.87B |
| Long-term Debt | $1.98B | $1.87B | $2.09B | $2.17B | $2.30B | $2.35B |
| Total Liabilities | $3.97B | $3.98B | $4.64B | $4.68B | $4.85B | $5.15B |
| Stockholders' Equity | ($802.36M) | ($578.43M) | ($368.58M) | $60.65M | $112.63M | $66.39M |
| Retained Earnings | $2.66B | $2.67B | $3.08B | $5.13B | $5.17B | $5.20B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $383.26M | $229.17M | $79.47M | $175.98M | $301.51M | $301.97M |
| Investing Cash Flow | ($125.10M) | ($49.06M) | ($122.83M) | ($24.27M) | ($155.25M) | ($75.69M) |
| Financing Cash Flow | ($445.36M) | ($305.45M) | ($31.27M) | ($198.08M) | ($330.37M) | ($235.37M) |
| CapEx | $66.28M | $72.40M | $102.88M | $124.84M | $184.04M | $104.99M |
| Free Cash Flow | $316.98M | $156.77M | ($23.41M) | $51.14M | $117.47M | $196.99M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | 52.4% | - | - | 30.5% | 32.3% |
| Operating margin | 10.2% | -2.6% | -12.4% | 1.1% | -5.0% | -5.2% |
| EBITDA margin | 16.1% | 3.1% | -7.5% | 5.8% | -0.6% | -0.7% |
| Net margin | 7.6% | -10.0% | -11.8% | 1.0% | -0.0% | -5.1% |
| Free cash flow margin | 16.7% | 7.7% | -0.7% | 1.4% | 3.2% | 5.5% |
| FCF / Net income | 2.19 | -0.77 | 0.06 | 1.38 | -86.95 | -1.09 |
| R&D / Revenue | 0.8% | 1.6% | 1.3% | 1.2% | 1.3% | 1.1% |
| SG&A / Revenue | 32.8% | 35.4% | 27.5% | 25.6% | 25.2% | 27.1% |
| Effective tax rate | 24.8% | - | - | 7.4% | - | - |
| Return on assets | 4.6% | -6.0% | -9.0% | 0.8% | -0.0% | -3.5% |
| Return on equity | -18.0% | 35.2% | 104.6% | 60.9% | -1.2% | -273.4% |
| Return on invested capital | 12.3% | -3.2% | -18.7% | 1.7% | -6.0% | -6.1% |
| Liquidity | ||||||
| Current ratio | 0.71 | 0.79 | 0.98 | 1.04 | 1.09 | 1.13 |
| Quick ratio | 0.67 | 0.75 | 0.94 | 0.99 | 1.05 | 1.09 |
| Cash ratio | 0.18 | 0.28 | 0.35 | 0.39 | 0.42 | 0.49 |
| Leverage | ||||||
| Debt / Equity | -2.46 | -3.23 | -5.66 | 35.82 | 20.41 | 35.37 |
| Debt / Assets | 0.62 | 0.55 | 0.49 | 0.46 | 0.46 | 0.45 |
| Debt / EBITDA | 6.50 | 30.03 | - | 10.67 | - | - |
| Interest coverage | - | - | -4.0x | 0.4x | -1.9x | -1.7x |
| Equity multiplier | -3.95 | -5.87 | -11.59 | 78.17 | 44.03 | 78.62 |
| Liabilities / Assets | 1.25 | 1.17 | 1.09 | 0.99 | 0.98 | 0.99 |
| Efficiency | ||||||
| Asset turnover | 0.60 | 0.60 | 0.76 | 0.75 | 0.74 | 0.68 |
| Inventory turnover | - | 16.12 | - | - | 32.47 | 36.54 |
| Days sales outstanding | 32d | 29d | 38d | 35d | 33d | 40d |
| Days inventory outstanding | - | 23d | - | - | 11d | 10d |
| Days payable outstanding | - | 91d | - | - | 44d | 45d |
| Cash conversion cycle | - | -39d | - | - | 0d | 5d |
| Valuation | ||||||
| P / E | 12.6x | - | - | 18.1x | - | - |
| P / B | - | - | - | 11.1x | 10.5x | 15.9x |
| P / S | 1.0x | 0.7x | 0.2x | 0.2x | 0.3x | 0.3x |
| EV / EBITDA | 11.6x | 43.7x | - | 10.7x | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -6.6% | -38.0% | -7.7% | -3.7% | 3.4% | 10.9% |
| Revenue CAGR (3y) | -18.8% | -18.0% | -2.8% | 3.3% | 1.4% | 0.0% |
| Revenue CAGR (5y) | -11.8% | -8.8% | -1.5% | -0.1% | 1.5% | -0.1% |
| Gross profit growth (YoY) | - | - | - | - | -2.3% | -10.5% |
| Operating income growth (YoY) | - | 87.1% | - | - | 0.8% | - |
| Net income growth (YoY) | - | 47.2% | - | - | 99.3% | - |
| EPS growth (YoY) | - | 49.1% | - | - | 99.1% | - |
| EPS CAGR (3y) | 58.7% | - | - | -42.4% | - | - |
| EPS CAGR (5y) | - | - | - | -31.5% | - | - |
| FCF growth (YoY) | 102.2% | - | - | -56.5% | -40.4% | 71.4% |
| FCF CAGR (5y) | 10.0% | 6.4% | - | -30.9% | -18.7% | -10.8% |
| Book value growth (YoY) | -38.7% | -56.9% | - | -46.1% | 69.6% | -76.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.89B totalSend Tech Solutions$1.26B · 66.4%
Presort Services$636.63M · 33.6%
Product / service
$3.79B totalSales And Services$1.89B · 50.0%
Service$1.21B · 31.9%
Product$364.71M · 9.6%
Financing And Other$321.89M · 8.5%
Geographic
$1.89B totalUS$1.59B · 84.3%
Non Us$297.65M · 15.7%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.31
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✓Asset turnover improved
Dividends
$0.36/share trailing 12 months · +56.5% YoY
| Ex-date | Per share |
|---|---|
| May 18, 2026 | $0.1000 |
| Feb 27, 2026 | $0.0900 |
| Nov 10, 2025 | $0.0900 |
| Aug 11, 2025 | $0.0800 |
| May 19, 2025 | $0.0700 |
| Feb 21, 2025 | $0.0600 |
| Nov 18, 2024 | $0.0500 |
| Aug 22, 2024 | $0.0500 |
| May 22, 2024 | $0.0500 |
| Feb 8, 2024 | $0.0500 |
| Nov 14, 2023 | $0.0500 |
| Aug 21, 2023 | $0.0500 |
| May 22, 2023 | $0.0500 |
| Feb 16, 2023 | $0.0500 |
| Nov 14, 2022 | $0.0500 |
| Aug 19, 2022 | $0.0500 |
| May 20, 2022 | $0.0500 |
| Feb 17, 2022 | $0.0500 |
| Nov 15, 2021 | $0.0500 |
| Aug 19, 2021 | $0.0500 |
| May 20, 2021 | $0.0500 |
| Feb 11, 2021 | $0.0500 |
| Nov 16, 2020 | $0.0500 |
| Aug 20, 2020 | $0.0500 |