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Pitney Bowes
(NYSE:PBI)
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Rating:66Neutral
Price Target:
$19.00
▲(47.98% Upside)
Action:Reiterated
Date:06/25/26
Score is held back primarily by financial risk (negative equity and sizable debt) despite improved profitability and strong free cash flow. Offsetting positives include strong technical momentum, raised guidance and a significant Q1 free cash flow surprise, plus corporate actions that reduced near-term refinancing pressure. Valuation is reasonable but not deeply discounted relative to the balance-sheet overhang.
Positive Factors
Strong free cash flow generation
Consistent, high free cash flow conversion (TTM FCF ~ $391M and a positive Q1) provides durable internal funding for debt paydown, dividends and buybacks. This cash conversion supports deleveraging and strategic investments over the next 2–6 months despite leverage constraints.
Negative Factors
Negative shareholders' equity
Negative equity signals an elevated structural solvency concern: sizable liabilities versus assets increase creditor risk, constrain capital-raising options, and magnify the impact of any earnings or cash shortfall, limiting strategic flexibility over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Consistent, high free cash flow conversion (TTM FCF ~ $391M and a positive Q1) provides durable internal funding for debt paydown, dividends and buybacks. This cash conversion supports deleveraging and strategic investments over the next 2–6 months despite leverage constraints.
Read all positive factors
Pitney Bowes Key Performance Indicators (KPIs)
Any
Revenue by Geography
Data provided by:
The Fly
The FlyPitney Bowes (PBI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.40B
Dividend Yield2.82%
Average Volume (3M)2.90M
Price to Earnings (P/E)18.0
Beta (1Y)1.29
Revenue Growth-18.48%
EPS Growth288.14%
CountryUS
Employees7,200
SectorIndustrials
Sector Strength72
IndustryIntegrated Freight & Logistics
Share Statistics
EPS (TTM)1.02
Shares Outstanding135,441,420
10 Day Avg. Volume2,866,852
30 Day Avg. Volume2,897,645
Financial Highlights & Ratios
PEG Ratio-0.07
Price to Book (P/B)-2.28
Price to Sales (P/S)0.97
P/FCF Ratio6.10
Enterprise Value/Market Cap1.80
Enterprise Value/Revenue2.30
Enterprise Value/Gross Profit4.26
Enterprise Value/Ebitda9.85
Forecast
1Y Price Target
$16.43Price Target Upside27.92% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)1.62
Revenue Forecast (FY)$1.84B
Pitney Bowes Business Overview & Revenue Model
Company Description
Pitney Bowes Inc. (PBI) operates as a prominent global provider of shipping and mailing services. The company delivers a comprehensive array of technology, logistics, and financial solutions to a varied client base, including small and medium-size...
How the Company Makes Money
Pitney Bowes makes money primarily by selling technology and services that help businesses ship parcels and process mail.
Key revenue streams include:
- Shipping technology and services: Revenue from shipping-related software and platforms (inclu...
Pitney Bowes Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed meaningful operational progress and financial improvement: a strong, broad-based Q1, a material free cash flow beat ($43.5M) and raised guidance, stabilization in SendTech (down <1%) and signs of recovery in Presort, plus clear capital allocation actions (dividends, buybacks) and bank-driven strategic optionality. Management acknowledged risks — forecasting history, conservative pension adjustments, potential one-time H2 headwinds from a large noncore customer, and quarter-to-quarter cash flow variability — but presented credible mitigation plans (improved forecasting, working capital controls, cost discipline, and M&A/inorganic options). On balance, positive developments and momentum materially outweigh the noted risks, though some outcomes remain contingent on execution.Positive Updates
Broad-based strong Q1 results and raised guidance
Management described Q1 as "strong and broad-based," with momentum across businesses that supported an increase to guidance (management raised the lower end and, in some places, the upper end of guidance). Bookings were up year-over-year — the first YoY bookings gain noted — and the sales pipeline and go-to-market activities showed positive momentum.
Negative Updates
Potential one-time headwinds in second half (SendTech)
Management warned of potential one-time headwinds in H2 tied to a specific noncore customer whose volumes have declined almost quarterly; this could create volatility and offset some SendTech gains if it materializes.
Read all updates
Q1-2026 Updates
Positive
Negative
Broad-based strong Q1 results and raised guidance
Management described Q1 as "strong and broad-based," with momentum across businesses that supported an increase to guidance (management raised the lower end and, in some places, the upper end of guidance). Bookings were up year-over-year — the first YoY bookings gain noted — and the sales pipeline and go-to-market activities showed positive momentum.
Read all positive updates
Company Guidance
On the call the company said it has raised (upped) its FY2026 outlook after a "strong, broad‑based" Q1, noted Q1 free cash flow of $43.5 million (the first positive FCF quarter in years) versus a prior consensus expectation of a $14 million outflow (a ~$57.5 million delta), and said it increased the lower end (and in places the upper end) of guidance while remaining cautious on cash flow durability; operationally SendTech was down less than 1% with bookings up year‑over‑year and management expects growth to return by Q3, Presort has stopped losses and volumes could return to growth in the back half of the year, the bank is delivering operational improvements, the company plans to pay its 2027 notes in the coming months without new debt and target net debt/EBITDA around 3x (or slightly lower), and management reiterated capital allocation actions (dividend increases and significant share repurchases), conservative pension accounting (U.S./Canada annuitized; other plans require a triggering event to be excluded from adjusted results), and credit that the business is supported by over 6,000 employees.Pitney Bowes Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
24
Negative
Cash Flow
67
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.88B | 1.89B | 2.03B | 2.08B | 3.54B | 3.67B |
| Gross Profit | 1.01B | 1.02B | 1.06B | 1.03B | 1.08B | 1.12B |
| EBITDA | 438.34M | 405.56M | 182.38M | 177.28M | 294.23M | 251.96M |
| Net Income | 167.41M | 144.70M | 10.24M | -385.63M | 36.94M | 3.51M |
Balance Sheet | ||||||
| Total Assets | 3.15B | 3.17B | 3.40B | 4.27B | 4.74B | 4.96B |
| Cash, Cash Equivalents and Short-Term Investments | 314.02M | 297.12M | 486.10M | 622.22M | 681.15M | 746.92M |
| Total Debt | 2.27B | 2.22B | 2.05B | 2.30B | 2.52B | 2.56B |
| Total Liabilities | 4.04B | 3.97B | 3.98B | 4.64B | 4.68B | 4.85B |
| Stockholders Equity | -893.57M | -802.36M | -578.43M | -368.58M | 60.65M | 112.63M |
Cash Flow | ||||||
| Free Cash Flow | 390.71M | 299.71M | 156.77M | -23.41M | 51.14M | 117.47M |
| Operating Cash Flow | 455.95M | 365.99M | 229.17M | 79.47M | 175.98M | 301.51M |
| Investing Cash Flow | -88.85M | -125.10M | -49.06M | -122.83M | -24.27M | -155.25M |
| Financing Cash Flow | -388.56M | -428.09M | -305.45M | -31.27M | -198.08M | -330.37M |
Pitney Bowes Technical Analysis
Positive
12.84
Price Trends
16.49
Positive
13.92
Positive
12.09
Positive
Market Momentum
0.36
Positive
66.16
Neutral
65.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PBI, the sentiment is Positive. The current price of 12.84 is below the 20-day moving average (MA) of 17.41, below the 50-day MA of 16.49, and above the 200-day MA of 12.09, indicating a bullish trend. The MACD of 0.36 indicates Positive momentum. The RSI at 66.16 is Neutral, neither overbought nor oversold. The STOCH value of 65.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PBI.
Pitney Bowes Risk Analysis
Pitney Bowes disclosed 26 risk factors in its most recent earnings report. Pitney Bowes reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pitney Bowes Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $22.32B | 27.56 | 36.71% | 1.02% | 1.13% | 2.62% | |
73 Outperform | $26.65B | 43.41 | 17.30% | 0.89% | 0.58% | 17.20% | |
69 Neutral | $7.05B | 57.59 | 14.64% | 2.56% | -0.79% | -28.21% | |
68 Neutral | $74.17B | 17.10 | 15.76% | 1.94% | 7.73% | ― | |
66 Neutral | $2.40B | 17.99 | -23.14% | 2.82% | -18.48% | 288.14% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
58 Neutral | $94.13B | 18.24 | 33.03% | 6.55% | -2.59% | -9.78% |
* Industrials Sector Average
PBI
Pitney Bowes
18.33
7.66
71.82%
EXPD
Expeditors International
172.02
57.46
50.15%
FDX
FedEx
314.69
128.23
68.77%
JBHT
JB Hunt
279.96
127.86
84.06%
LSTR
Landstar System
209.32
69.25
49.44%
UPS
United Parcel
112.47
17.72
18.70%
Pitney Bowes Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Pitney Bowes Upsizes Term Loan and Redeems Notes
Positive
Jun 25, 2026
On June 23, 2026, Pitney Bowes amended its credit agreement to add $150 million of incremental Term Loan A borrowings, bringing total tranche A term loans to $302 million. The upsized facility, which closed without changes to pricing or its May 18...
Business Operations and StrategyPrivate Placements and Financing
Pitney Bowes Extends Credit Facilities, Tightens Covenants
Positive
May 19, 2026
On May 18, 2026, Pitney Bowes amended its credit agreement, extending the maturities of its $450 million revolving credit facility and $152 million Term Loan A by five years to May 2031, while keeping total borrowings unchanged. The revised pact t...
Executive/Board ChangesShareholder Meetings
Pitney Bowes Shareholders Back Board, Audit and Pay
Positive
May 15, 2026
Pitney Bowes stockholders held their annual meeting on May 12, 2026, where they elected directors Peter Brimm, Catherine Levene, Brent Rosenthal, Wayne Walker, and Kurt Wolf to one-year terms ending at the 2027 annual meeting. Shareholders also ra...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.