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Pitney Bowes Inc. provides digital shipping solutions, mailing innovation, and financial services worldwide. It operates through SendTech Solutions and Presort Services segments. The SendTech Solutions segment offers physical and digital shipping and mailing technology solutions and other applications for sending, tracking, and receiving of letters, parcels and flats, as well as supplies and maintenance services. This segment also provides financing alternatives to finance other manufacturers' equipment and product purchases. The Presort Services segment operates as a workshare partner of the United States Postal Service; and offers mail sortation services. It markets its products, solutions, and services through direct and inside sales force, partner channels, direct mailings, and digital channels. The company was formerly known as Pitney Bowes Postage Meter Company. Pitney Bowes Inc. was incorporated in 1920 and is headquartered in Shelton, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.9B | $406M | $145M | $317M | -18.0% | -6.6% | -171.1% |
| 2024 | $2.0B | $172M | $-204M | $157M | 35.2% | -2.5% | -47.2% |
| 2023 | $2.1B | $168M | $-386M | $2M | 104.6% | -16.3% | -1143.9% |
| 2022 | $2.5B | $387M | $37M | $92M | 60.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 2,482.88 | 2,078.93 | 2,026.60 | 1,892.63 |
| Operating Revenue | - | 2,482.88 | 2,078.93 | 2,026.60 | 1,892.63 |
| Cost Of Revenue | - | 1,381.47 | 1,048.32 | 964.30 | 868.77 |
| Gross Profit | - | 1,101.41 | 1,030.61 | 1,062.30 | 1,023.86 |
| Operating Expense | - | 821.01 | 811.10 | 749.85 | 636.84 |
| Research And Development | - | 35.46 | 29.49 | 31.96 | 15.28 |
| Selling General And Administration | - | 785.54 | 781.61 | 717.89 | 621.57 |
| Total Expenses | - | 2,202.48 | 1,859.41 | 1,714.15 | 1,505.61 |
| Operating Income | - | 280.40 | 219.52 | 312.45 | 387.02 |
| EBITDA | - | 387.12 | 167.57 | 172.25 | 405.56 |
| Normalized EBITDA | - | 387.26 | 340.50 | 337.89 | 491.05 |
| EBIT | - | 275.96 | 54.85 | 57.77 | 293.98 |
| Interest Expense | - | 87.31 | 98.77 | 110.09 | 101.46 |
| Net Interest Income | - | -87.31 | -98.77 | -110.09 | -101.46 |
| Other Non Operating Income Expenses | - | -4.31 | 8.26 | -89.04 | -7.54 |
| Other Income Expense | - | -4.44 | -164.67 | -254.68 | -93.03 |
| Interest Expense Non Operating | - | 87.31 | 98.77 | 110.09 | 101.46 |
| Net Non Operating Interest Income Expense | - | -87.31 | -98.77 | -110.09 | -101.46 |
| Pretax Income | - | 188.65 | -43.92 | -52.33 | 192.52 |
| Tax Provision | - | 42.96 | 17.35 | -154.83 | 47.83 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.03 | -36.31 | -34.78 | -21.20 |
| Net Income Continuous Operations | - | 145.70 | -61.27 | 102.50 | 144.70 |
| Net Income From Continuing And Discontinued Operation | - | 36.94 | -385.63 | -203.60 | 144.70 |
| Net Income From Continuing Operation Net Minority Interest | - | 145.70 | -61.27 | 102.50 | 144.70 |
| Net Income | - | 36.94 | -385.63 | -203.60 | 144.70 |
| Net Income Common Stockholders | - | 36.94 | -385.63 | -203.60 | 144.70 |
| Net Income Including Noncontrolling Interests | - | 36.94 | -385.63 | -203.60 | 144.70 |
| Normalized Income | - | 145.80 | 75.34 | 233.36 | 208.99 |
| Diluted NI Availto Com Stockholders | - | 36.94 | -385.63 | -203.60 | 144.70 |
| Basic Average Shares | - | 175.90 | 175.28 | 179.51 | 171.60 |
| Diluted Average Shares | - | 177.25 | 175.64 | 182.53 | 173.04 |
| Reconciled Depreciation | - | 111.17 | 112.72 | 114.48 | 111.58 |
| Reconciled Cost Of Revenue | - | 1,381.47 | 1,048.32 | 964.30 | 868.77 |
| Total Unusual Items | - | -0.14 | -172.92 | -165.64 | -85.49 |
| Total Unusual Items Excluding Goodwill | - | -0.14 | -172.92 | -165.64 | -85.49 |
| Net Income Discontinuous Operations | - | -108.76 | -324.36 | -306.10 | 0 |
| Special Income Charges | - | -0.14 | -172.92 | -165.64 | -85.49 |
| Gain On Sale Of Business | 10.20 | 7.69 | 0 | 0 | - |
| Other Special Charges | - | 4.99 | -3.06 | 10.89 | 14.07 |
| Write Off | - | 0 | 0 | 10 | 0 |
| Impairment Of Capital Assets | - | 0 | 123.57 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 17.21 | 52.41 | 144.75 | 71.42 |
| Gain On Sale Of Ppe | 1.43 | 14.37 | 0 | 0 | - |
| Rent Expense Supplemental | 24.43 | 25.10 | 19.61 | 17.46 | - |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Pitney Bowes Inc.this co. | PBI | $2.3B | 15.67↓ discount | -2.83 | -18.0% | 10.12 |
| Hub Group, Inc. | HUBG | $2.7B | 25.63 | 1.62 | 6.3% | 9.06 |
| Werner Enterprises, Inc. | WERN | $2.6B | - | 1.90 | -1.1% | 10.78 |
| Trinity Industries, Inc. | TRN | $2.6B | 10.23 | 2.40 | 23.5% | 8.20 |
| Kennametal Inc. | KMT | $2.5B | 26.92 |
| - |
| - |
| - |
| - |
| - |
| 1.95 |
| 7.3% |
| 10.26 |
| DXP Enterprises, Inc. | DXPE | $2.5B | 28.20 | 5.02 | 17.8% | 14.18 |
| DNOW Inc. | DNOW | $2.5B | -27.69 | 1.10 | -4.0% | -99.50 |
| ABM Industries Incorporated | ABM | $2.3B | 14.37 | 1.31 | 9.1% | 9.26 |
| CoreCivic, Inc. | CXW | $2.3B | 19.57 | 1.62 | 8.3% | 10.14 |
| Peer Median | - | 19.57 | 1.76 | 7.8% | 9.70 | |