| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | 1 | 1 | — | — | 1 | 1 | — | — | — | — | — | — |
| Sell | — | — | — | — | 2 | 1 | 4 | 5 | 1 | 2 | 2 | 3 |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡ |
|
| 2027 | ‡‡‡‡ |
|
| 2026 | 0.36 |
—
—
—
|
| 2025 | 0.30 |
—
—
—
—
|
| 2024 | 0.20 |
—
—
—
—
|
| 2023 | 0.20 |
—
—
—
—
|
| 2022 | 0.20 |
—
—
—
—
|
| 2021 | 0.20 |
—
—
—
—
|
| 2020 | 0.20 |
—
—
—
—
|
| 2019 | 0.20 |
—
—
—
—
|
| 2018 | 0.75 |
—
—
—
—
|
| 2017 | 0.75 |
—
—
—
—
|
| 2016 | 0.75 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 622.22 | 486.10 | 297.12 | 278.75 |
| Receivables | 764.34 | 705.99 | 667.69 | 619.02 |
| Inventory | 63.05 | 59.84 | 66.24 | 62.88 |
| Other | 76.04 | 66.03 | 69.45 | 79.22 |
| 2,058.09 | 1,317.95 | 1,100.50 | 1,039.88 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 829.42 | 873.63 | 845.38 | 743.25 |
| ST’ Debt | 58.93 | 53.25 | 17.15 | 23.14 |
| Other | 716.58 | 715.99 | 651.71 | 618.19 |
| 1,898.44 | 1,672.73 | 1,547.84 | 1,417.64 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 477.41 | 451.50 | — | — |
—
|
| ’25 | 493.42 | 461.91 | 459.68 | 477.63 |
1,892.63
|
| ’24 | 521.27 | 489.75 | 499.46 | 516.12 |
2,026.60
|
| ’23 | 834.54 | 776.48 | 503.03 | 526.42 |
2,078.93
|
| ’22 | 926.94 | 871.50 | 830.91 | (146.47) |
2,482.88
|
| ’21 | 915.20 | 899.20 | 875.45 | 983.71 |
3,673.56
|
| ’20 | 796.27 | 837.49 | 891.90 | 1,028.42 |
3,554.08
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 44.16 | 152.92 | — | — |
—
|
| ’25 | (16.68) | 111.39 | 66.85 | 221.70 |
383.26
|
| ’24 | (12.61) | 92.55 | 14.75 | 134.48 |
229.17
|
| ’23 | (39.71) | (0.04) | 25.85 | 94.00 |
80.09
|
| ’22 | 10.56 | 35.13 | (36.46) | 165.81 |
175.04
|
| ’21 | 65.92 | 78.81 | 71.45 | 85.34 |
301.52
|
| ’20 | (67.35) | 153.78 | 104.74 | 110.81 |
301.97
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 28.31 | 134.43 | — | — |
—
|
| ’25 | (33.57) | 98.05 | 51.05 | 201.45 |
316.98
|
| ’24 | (26.93) | 76.09 | (4.69) | 112.30 |
156.77
|
| ’23 | (68.38) | (26.02) | 30.27 | 66.12 |
1.98
|
| ’22 | 28.77 | 3.51 | (69.82) | 180.71 |
143.18
|
| ’21 | 22.60 | 40.27 | 14.24 | 42.21 |
119.31
|
| ’20 | (93.13) | 119.60 | 142.16 | 86.61 |
255.23
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.39 | 0.36 | — | — |
—
|
| ’25 | 0.19 | 0.17 | 0.30 | 0.17 |
0.84
|
| ’24 | (0.02) | (0.14) | (0.75) | (0.21) |
(1.12)
|
| ’23 | (0.04) | (0.81) | (0.07) | (1.27) |
(2.20)
|
| ’22 | 0.12 | 0.02 | 0.03 | 0.04 |
0.21
|
| ’21 | (0.18) | 0.11 | 0.05 | 0.01 |
(0.01)
|
| ’20 | (1.22) | (0.02) | 0.07 | 0.11 |
(1.06)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 2.30 | 2.80 | 3.68 | 6.88 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | 6.92 | 4.85 | 8.80 | 13.11 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11,000 | 10,500 | 7,200 | 6,600 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.23 | 0.20 | 0.28 | 0.29 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,482.88 | 2,078.93 | 2,026.60 | 1,892.63 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 44.36% | 49.57% | 52.42% | 54.10% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 188.65 | (43.92) | (52.33) | 192.52 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.60% | (2.11%) | (2.58%) | 10.17% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 36.94 | (385.63) | (203.60) | 144.70 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 119.84 | 247.00 | 137.39 | 119.07 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.28 | 11.84 | 11.29 | 11.03 | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.21 | (2.20) | (1.13) | 0.84 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.01 | 0.46 | 1.28 | 2.23 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.18) | (0.44) | (0.40) | (0.39) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.82 | 0.01 | 0.87 | 1.85 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.35 | (2.10) | (3.22) | (4.68) | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 173.91 | 175.64 | 179.51 | 171.61 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 19.14 | 0.00 | 0.00 | 12.58 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.28 | 0.29 | 0.65 | 0.96 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.53 | 0.00 | 0.00 | 0.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.90 | 0.87 | 1.36 | 1.85 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 15.53 | 1,155.85 | 17.55 | 11.07 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 175.04 | 80.09 | 229.17 | 383.26 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (31.86) | (78.11) | (72.40) | (66.28) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 143.18 | 1.98 | 156.77 | 316.98 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 70.21 | 159.65 | (354.77) | (447.34) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,205.27 | 2,146.03 | 1,919.71 | 1,993.04 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,524.11 | 1,523.81 | 1,433.61 | 1,695.92 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 60.65 | (368.58) | (578.43) | (802.36) | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.76% | (8.56%) | (5.31%) | 4.41% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.38% | 2.35% | 17.21% | 22.97% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 42.64% | 250.47% | 43.00% | (20.96%) | — | — | — |
ROE
|
Pitney Bowes Inc. (PBI), once a cornerstone of corporate mailing, has grappled with a decade-long plunge in physical mail volumes driven by digital shifts and e-commerce dominance, prompting a 2021 divestiture of its Global Ecommerce unit for $275 million to refocus on North American presort and shipping services. Revenue has contracted sharply from $3.67 billion in 2021 to $2.03 billion in 2024, with forecasts eyeing further declines to $1.85 billion by 2027, exacerbated by USPS pricing reforms and post-2022 rate hikes that strained its high debt load. Yet, operational efficiencies shine through: workforce cuts boosted revenue per employee 42% to $281,000 in 2024, gross margins rebounded to 52.4%, and operating cash flow surged 186% to $229 million, enabling 43% debt reduction to $1.92 billion.
Despite net losses and volatile EPS (-1.13 in 2024), projections dazzle with a swing to $1.61 by 2027, fueled by capex restraint, asset sales, and ROIC jumping to 17.2%. The stock, trading in the 4-9 range after a 60% drawdown from 2016 peaks, has decoupled positively from revenue woes, with FCF per share at 0.87 supporting dividends and buybacks amid undervalued multiples like 0.65x PS and 17.6x EV/FCF.
Insider buys signal confidence despite net selling, while cheap valuations (projected 10x 2025 PE) and analyst targets (up to 66% upside) position PBI for re-rating. Macro tailwinds like Fed rate cuts and USPS stability could drive presort growth, M&A appeal in a consolidating sector, and 20-50% share gains for patient investors betting on profitability inflection.
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