Pitney Bowes Financials

PBI

Source SEC Filings (10-K/10-Q) Updated Feb 19, 2026 Currency USD FYE February

This page shows Pitney Bowes (PBI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 40/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Pitney Bowes's revenue declined 99.9% year-over-year, from $2.0B to $1.2M. This contraction results in a growth score of 0/100.

Leverage

Pitney Bowes has elevated debt relative to equity (D/E of 2.46), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 20/100, reflecting increased financial risk.

Liquidity

Pitney Bowes's current ratio of 0.71 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 8/100, which could limit financial flexibility.

Cash Flow

100

Pitney Bowes converts 26.3% of revenue into free cash flow ($317K). This strong cash generation earns a score of 100/100.

Returns

Pitney Bowes earns a strong 18.0% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 72/100.

Piotroski F-Score Neutral

5/9

Pitney Bowes passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

2.65x

For every $1 of reported earnings, Pitney Bowes generates $2.65 in operating cash flow ($383K OCF vs $145K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$1.2M

YoY-99.9%

5Y CAGR-79.8%

10Y CAGR-55.0%

Pitney Bowes generated $1.2M in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.

EBITDA

N/A

Free Cash Flow

$317K

YoY-99.8%

5Y CAGR-72.4%

10Y CAGR-50.5%

Pitney Bowes generated $317K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 99.8% from the prior year.

Net Income

$145K

YoY+100.1%

10Y CAGR-54.8%

Pitney Bowes reported $145K in net income in fiscal year 2025. This represents an increase of 100.1% from the prior year.

EPS (Diluted)

$0.84

YoY+175.0%

10Y CAGR-8.4%

Pitney Bowes earned $0.84 per diluted share (EPS) in fiscal year 2025. This represents an increase of 175.0% from the prior year.

Cash & Debt

$285K

YoY-99.9%

5Y CAGR-80.1%

10Y CAGR-53.8%

Pitney Bowes held $285K in cash against $2.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.20

YoY+0.0%

5Y CAGR+0.0%

10Y CAGR-12.4%

Pitney Bowes paid $0.20 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

150M

YoY-18.0%

5Y CAGR-2.9%

Pitney Bowes had 150M shares outstanding in fiscal year 2025. This represents a decrease of 18.0% from the prior year.

Gross Margin

50.7%

YoY-1.7pp

5Y CAGR+18.3pp

10Y CAGR-5.8pp

Pitney Bowes's gross margin was 50.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.7 percentage points from the prior year.

Operating Margin

N/A

Net Margin

12.0%

YoY+22.1pp

5Y CAGR+17.1pp

10Y CAGR+0.6pp

Pitney Bowes's net profit margin was 12.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 22.1 percentage points from the prior year.

Return on Equity

18.0%

10Y CAGR-210.2pp

Pitney Bowes's ROE was 18.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

R&D Spending

$15K

YoY-100.0%

5Y CAGR-79.1%

10Y CAGR-58.9%

Pitney Bowes invested $15K in research and development in fiscal year 2025. This represents a decrease of 100.0% from the prior year.

Share Buybacks

$378K

10Y CAGR-44.3%

Pitney Bowes spent $378K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$66K

YoY-99.9%

5Y CAGR-77.1%

10Y CAGR-54.3%

Pitney Bowes invested $66K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the prior year.

PBI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.2M-99.9%	$2.0B-2.5%	$2.1B-16.3%	$2.5B-32.4%	$3.7B+3.4%	$3.6B
Cost of Revenue	$595K-99.9%	$964.3M-8.0%	$1.0B	N/A	$2.6B+6.1%	$2.4B
Gross Profit	$611K-99.9%	$1.1B+3.1%	$1.0B	N/A	$1.1B-2.4%	$1.1B
R&D Expenses	$15K-100.0%	$32.0M+8.4%	$29.5M-16.9%	$35.5M-24.2%	$46.8M+21.9%	$38.4M
SG&A Expenses	$622K-99.9%	$717.9M-8.2%	$781.6M-0.5%	$785.5M-15.0%	$924.2M-4.1%	$963.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$101K-99.9%	$110.1M+9.6%	$100.4M+11.6%	$90.0M-7.1%	$96.9M-8.4%	$105.8M
Income Tax	$48K+100.0%	-$154.8M-992.5%	$17.3M-59.6%	$43.0M+493.3%	-$10.9M-253.4%	$7.1M
Net Income	$145K+100.1%	-$203.6M+47.2%	-$385.6M-1143.9%	$36.9M+2834.3%	-$1.4M+99.3%	-$180.4M
EPS (Diluted)	$0.84+175.0%	$-1.12+49.1%	$-2.20-1147.6%	$0.21+2200.0%	$-0.01+99.0%	$-1.05

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Revenue	$459.7M-0.5%	$461.9M-6.4%	$493.4M-4.4%	$516.1M+3.3%	$499.5M+2.0%	$489.7M-6.0%	$521.3M-1.0%	$526.4M
Cost of Revenue	N/A	N/A	N/A	$238.5M+0.2%	$238.0M-0.5%	$239.3M-3.7%	$248.5M-3.9%	$258.6M
Gross Profit	N/A	N/A	N/A	$277.6M+6.2%	$261.5M+4.4%	$250.5M-8.2%	$272.7M+1.8%	$267.8M
R&D Expenses	$3.4M-5.3%	$3.6M-24.4%	$4.8M-49.8%	$9.5M+25.2%	$7.6M+4.4%	$7.3M-4.8%	$7.6M+659.6%	$1.0M
SG&A Expenses	$144.2M-15.5%	$170.5M+2.8%	$165.9M+11.9%	$148.3M-22.0%	$190.0M-1.5%	$192.8M+3.2%	$186.8M+39.2%	$134.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	-$26.1M-4.6%	-$24.9M-2.7%	-$24.3M-194.1%	$25.8M-7.1%	$27.8M-3.5%	$28.8M+3.6%	$27.8M-2.2%	$28.4M
Income Tax	$16.2M+74.1%	$9.3M-17.8%	$11.3M+284.4%	-$6.1M+96.3%	-$166.5M-7430.1%	$2.3M-85.3%	$15.5M+1675.2%	-$984K
Net Income	$52.0M+73.4%	$30.0M-15.4%	$35.4M+194.8%	-$37.4M+73.0%	-$138.5M-456.9%	-$24.9M-761.9%	-$2.9M+98.7%	-$223.8M
EPS (Diluted)	$0.30+76.5%	$0.17-10.5%	$0.19+190.5%	$-0.21+72.0%	$-0.75-435.7%	$-0.14-600.0%	$-0.02+98.4%	$-1.27

PBI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$3.2M-99.9%	$3.4B-20.5%	$4.3B-9.9%	$4.7B-4.4%	$5.0B-5.1%	$5.2B
Current Assets	$1.1M-99.9%	$1.3B-36.0%	$2.1B+14.5%	$1.8B-5.0%	$1.9B-10.4%	$2.1B
Cash & Equivalents	$285K-99.9%	$469.7M-21.7%	$600.1M-10.2%	$668.3M-8.8%	$732.5M-20.5%	$921.5M
Inventory	$66K-99.9%	$59.8M-5.1%	$63.0M-24.7%	$83.7M+6.5%	$78.6M+9.9%	$71.5M
Accounts Receivable	$168K-99.9%	$160.0M-20.1%	$200.2M-41.7%	$343.6M+2.7%	$334.6M-14.0%	$389.2M
Goodwill	$747K-99.9%	$721.0M-1.8%	$734.4M-13.7%	$851.3M-25.0%	$1.1B-1.5%	$1.2B
Total Liabilities	$2.4M-99.9%	$4.0B-14.3%	$4.6B-0.9%	$4.7B-3.4%	$4.8B-6.0%	$5.2B
Current Liabilities	$1.5M-99.9%	$1.7B-11.9%	$1.9B+9.9%	$1.7B0.0%	$1.7B-7.6%	$1.9B
Long-Term Debt	$2.0M-99.9%	$1.9B-10.6%	$2.1B-3.9%	$2.2B-5.5%	$2.3B-2.1%	$2.3B
Total Equity	$802K+100.1%	-$578.4M-56.9%	-$368.6M-707.7%	$60.7M-46.1%	$112.6M+59.5%	$70.6M
Retained Earnings	$2.7M-99.9%	$2.7B-13.2%	$3.1B-39.9%	$5.1B-0.8%	$5.2B-0.7%	$5.2B

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Total Assets	$3.3B+0.5%	$3.2B-0.9%	$3.3B-3.8%	$3.4B-6.9%	$3.6B-10.6%	$4.1B-0.6%	$4.1B-4.0%	$4.3B
Current Assets	$1.1B+2.1%	$1.1B-5.0%	$1.2B-10.1%	$1.3B-11.3%	$1.5B-7.4%	$1.6B+1.5%	$1.6B-23.1%	$2.1B
Cash & Equivalents	$321.0M+12.6%	$285.2M-11.9%	$323.8M-31.1%	$469.7M-16.4%	$561.5M-4.8%	$590.1M+14.3%	$516.1M-14.0%	$600.1M
Inventory	$75.7M-4.2%	$79.0M+21.3%	$65.1M+8.8%	$59.8M-16.5%	$71.6M-6.4%	$76.5M-2.8%	$78.7M+24.8%	$63.0M
Accounts Receivable	$161.7M+4.1%	$155.3M-3.1%	$160.3M+0.2%	$160.0M-15.3%	$188.8M-29.1%	$266.2M-13.4%	$307.2M+53.4%	$200.2M
Goodwill	$746.5M-0.3%	$748.5M+2.6%	$729.7M+1.2%	$721.0M-2.2%	$737.3M+1.3%	$727.6M-0.2%	$729.3M-0.7%	$734.4M
Total Liabilities	$3.9B+3.7%	$3.8B-0.8%	$3.8B-4.3%	$4.0B-4.6%	$4.2B-7.5%	$4.5B+0.2%	$4.5B-3.1%	$4.6B
Current Liabilities	$1.4B-4.5%	$1.5B0.0%	$1.5B-11.0%	$1.7B-0.7%	$1.7B+0.4%	$1.7B+3.2%	$1.6B-14.4%	$1.9B
Long-Term Debt	$2.1B+11.0%	$1.9B-0.9%	$1.9B+1.7%	$1.9B-9.1%	$2.1B-0.6%	$2.1B-0.5%	$2.1B-0.5%	$2.1B
Total Equity	-$661.5M-23.2%	-$536.8M-0.2%	-$535.9M+7.4%	-$578.4M-11.5%	-$518.9M-21.3%	-$427.9M-9.1%	-$392.4M-6.5%	-$368.6M
Retained Earnings	$2.7B-0.5%	$2.7B+0.7%	$2.7B-0.8%	$2.7B-2.8%	$2.7B-6.8%	$2.9B-2.6%	$3.0B-1.7%	$3.1B

PBI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$383K-99.8%	$229.2M+186.1%	$80.1M-54.2%	$175.0M-41.9%	$301.5M-0.2%	$302.0M
Capital Expenditures	$66K-99.9%	$72.4M-7.3%	$78.1M-5.5%	$82.6M-55.1%	$184.0M+75.3%	$105.0M
Free Cash Flow	$317K-99.8%	$156.8M+7809.5%	$2.0M-97.9%	$92.4M-21.3%	$117.5M-40.4%	$197.0M
Investing Cash Flow	$125K+100.3%	-$49.1M+60.5%	-$124.1M-411.3%	-$24.3M+84.4%	-$155.3M-105.1%	-$75.7M
Financing Cash Flow	$445K+100.1%	-$305.5M-918.1%	-$30.0M+84.9%	-$198.1M+40.0%	-$330.4M-40.4%	-$235.4M
Dividends Paid	$51K-99.9%	$36.0M+2.1%	$35.2M+1.4%	$34.7M-0.2%	$34.8M+1.5%	$34.3M
Share Buybacks	$378K	$0	$0-100.0%	$13.4M	$0	$0

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Operating Cash Flow	$66.8M-40.0%	$111.4M+767.8%	-$16.7M-112.4%	$134.5M+812.0%	$14.7M-84.1%	$92.6M+834.0%	-$12.6M-113.4%	$94.0M
Capital Expenditures	$15.8M+18.4%	$13.3M-21.0%	$16.9M-23.9%	$22.2M+14.1%	$19.4M+18.1%	$16.5M+15.0%	$14.3M-48.6%	$27.9M
Free Cash Flow	$51.1M-47.9%	$98.0M+392.1%	-$33.6M-129.9%	$112.3M+2493.4%	-$4.7M-106.2%	$76.1M+382.6%	-$26.9M-140.7%	$66.1M
Investing Cash Flow	-$36.4M-27.5%	-$28.6M+37.3%	-$45.5M-363.3%	$17.3M+144.8%	-$38.6M-143.4%	-$15.9M-34.0%	-$11.8M+58.7%	-$28.7M
Financing Cash Flow	$6.1M+104.9%	-$123.4M-45.1%	-$85.1M+64.2%	-$237.4M-3191.3%	-$7.2M-203.9%	-$2.4M+95.9%	-$58.4M-109.1%	-$27.9M
Dividends Paid	$13.3M+5.3%	$12.6M+15.0%	$11.0M+20.5%	$9.1M+0.5%	$9.1M+1.2%	$9.0M+1.4%	$8.8M-0.6%	$8.9M
Share Buybacks	$161.5M+114.5%	$75.3M+401.8%	$15.0M	$0	$0	$0	$0	$0

PBI Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	50.7%-1.7pp	52.4%+2.9pp	49.6%	N/A	30.5%-1.8pp	32.3%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	12.0%+22.1pp	-10.1%+8.5pp	-18.6%-20.0pp	1.5%+1.5pp	-0.0%+5.0pp	-5.1%
Return on Equity	18.0%	N/A	N/A	60.9%	N/A	N/A
Return on Assets	4.6%+10.6pp	-6.0%+3.0pp	-9.0%-9.8pp	0.8%+0.8pp	-0.0%+3.4pp	-3.5%
Current Ratio	0.71-0.1	0.79-0.3	1.08+0.0	1.04-0.1	1.09-0.0	1.13
Debt-to-Equity	2.46+5.7	-3.23+2.4	-5.66-41.5	35.82+15.4	20.41-12.8	33.25
FCF Margin	26.3%+18.5pp	7.7%+7.6pp	0.1%-3.6pp	3.7%+0.5pp	3.2%-2.3pp	5.5%

Metric	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23
Gross Margin	N/A	N/A	N/A	53.8%+1.4pp	52.3%+1.2pp	51.1%-1.2pp	52.3%+1.4pp	50.9%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	11.3%+4.8pp	6.5%-0.7pp	7.2%+14.4pp	-7.2%+20.5pp	-27.7%-22.6pp	-5.1%-4.5pp	-0.5%+42.0pp	-42.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	1.6%+0.7pp	0.9%-0.2pp	1.1%+2.2pp	-1.1%+2.7pp	-3.8%-3.2pp	-0.6%-0.5pp	-0.1%+5.2pp	-5.2%
Current Ratio	0.81+0.1	0.76-0.0	0.800.0	0.79-0.1	0.88-0.1	0.96-0.0	0.97-0.1	1.08
Debt-to-Equity	-3.16+0.3	-3.51+0.0	-3.54-0.3	-3.23+0.7	-3.96+0.9	-4.83+0.5	-5.29+0.4	-5.66
FCF Margin	11.1%-10.1pp	21.2%+28.0pp	-6.8%-28.6pp	21.8%+22.7pp	-0.9%-16.5pp	15.5%+20.7pp	-5.2%-17.7pp	12.6%

Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Pitney Bowes's annual revenue?

Pitney Bowes (PBI) reported $1.2M in total revenue for fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pitney Bowes's revenue growing?

Pitney Bowes (PBI) revenue declined by 99.9% year-over-year, from $2.0B to $1.2M in fiscal year 2025.

Is Pitney Bowes profitable?

Yes, Pitney Bowes (PBI) reported a net income of $145K in fiscal year 2025, with a net profit margin of 12.0%.

What is Pitney Bowes's earnings per share (EPS)?

Pitney Bowes (PBI) reported diluted earnings per share of $0.84 for fiscal year 2025. This represents a 175.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Pitney Bowes have?

As of fiscal year 2025, Pitney Bowes (PBI) had $285K in cash and equivalents against $2.0M in long-term debt.

What is Pitney Bowes's gross margin?

Pitney Bowes (PBI) had a gross margin of 50.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Pitney Bowes's net profit margin?

Pitney Bowes (PBI) had a net profit margin of 12.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Pitney Bowes pay dividends?

Yes, Pitney Bowes (PBI) paid $0.20 per share in dividends during fiscal year 2025.

What is Pitney Bowes's return on equity (ROE)?

Pitney Bowes (PBI) has a return on equity of 18.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pitney Bowes's free cash flow?

Pitney Bowes (PBI) generated $317K in free cash flow during fiscal year 2025. This represents a -99.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pitney Bowes's operating cash flow?

Pitney Bowes (PBI) generated $383K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pitney Bowes's total assets?

Pitney Bowes (PBI) had $3.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pitney Bowes's capital expenditures?

Pitney Bowes (PBI) invested $66K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Pitney Bowes spend on research and development?

Pitney Bowes (PBI) invested $15K in research and development during fiscal year 2025.

Does Pitney Bowes buy back shares?

Yes, Pitney Bowes (PBI) spent $378K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Pitney Bowes have outstanding?

Pitney Bowes (PBI) had 150M shares outstanding as of fiscal year 2025.

What is Pitney Bowes's current ratio?

Pitney Bowes (PBI) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Pitney Bowes's debt-to-equity ratio?

Pitney Bowes (PBI) had a debt-to-equity ratio of 2.46 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pitney Bowes's return on assets (ROA)?

Pitney Bowes (PBI) had a return on assets of 4.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pitney Bowes's Piotroski F-Score?

Pitney Bowes (PBI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pitney Bowes's earnings high quality?

Pitney Bowes (PBI) has an earnings quality ratio of 2.65x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Pitney Bowes?

Pitney Bowes (PBI) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.