PITNEY BOWES INC /DE/

Listed Company

PBI-PBCIK 0000078814NYSELarge AcceleratedOffice Machines, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.89B

Net Income

$144.70M

Total Assets

$3.17B

Equity

$-802.36M

Shares Out

149.94M

Op. Cash Flow

$383.26M

Business

PITNEY BOWES INC /DE/ is a technology-driven company that provides SaaS shipping solutions, mailing innovation and financial services to businesses and government clients worldwide. It offers physical and digital shipping and mailing technology, postage meters and supplies, parcel and mail tracking, presort mail processing, financing and revolving credit solutions, cloud-enabled APIs and support and maintenance services. The company operates through Sending Technology Solutions (SendTech Solutions), Presort Services and Other business activities tied to legacy ecommerce operations. Its products and services are distributed via direct and inside sales, global and regional partners, call centers, direct mail and digital channels.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	1,893	2,027	2,079	2,483	3,674
Selling, general and administrative	622	718	782	786	924
Research and development	15	32	29	35	47
Restructuring charges	59	77	52	—	19
Goodwill impairment	0	0	124	0	0
Interest expense	101	110	99	—	—
Other components of net pension and postretirement cost	8	89	−8	4	1
Other expense (income)	27	89	−3	−17	42
Total costs and expenses	1,700	2,079	2,123	2,294	3,681
Income (loss) from continuing operations before income taxes	193	−52	−44	189	−7
Provision (benefit) for income taxes	48	−155	17	43	−11
Income (loss) from continuing operations	145	103	−61	146	4
Loss from discontinued operations, net of tax	0	−306	−324	−109	−5
Net income (loss)	145	−204	−386	37	−1
Continuing operations (in dollars per share)	0.84	0.57	−0.35	0.84	0.02
Discontinued operations (in dollars per share)	0	−1.71	−1.85	−0.63	—
Net income (loss) - Basic (in dollars per share)	0.84	−1.13	−2.2	0.21	−0.01
Continuing operations (in dollars per share)	0.84	0.56	−0.35	0.82	0.02
Discontinued operations (in dollars per share)	0	−1.68	−1.85	−0.61	—
Net income (loss) - Diluted (in dollars per share)	0.84	−1.12	−2.2	0.21	−0.01

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents (includes $38,851 and $58,817, respectively, reported at fair value)	285	470	600	668	732
Short-term investments (includes $1,715 and $3,926, respectively, reported at fair value)	12	16	22	11	14
Accounts and other receivables (net of allowance of $7,507 and $7,723 respectively)	168	160	200	344	335
Short-term finance receivables (net of allowance of $14,206 and $13,302, respectively)	496	536	564	565	561
Inventories	66	60	63	84	79
Current income taxes	3	10	564,000	9	14
Other current assets and prepayments (net of allowance of $10,466 and $19,373, respectively)	69	66	76	116	157
Total current assets	1,100	1,318	2,058	1,798	1,892
Property, plant and equipment, net	186	219	254	421	429
Rental property and equipment, net	24	25	24	27	35
Long-term finance receivables (net of allowance of $4,370 and $8,374, respectively)	605	610	653	627	587
Goodwill	747	721	734	851	1,135
Intangible assets, net	15	16	20	78	132
Operating lease assets	107	113	126	296	208
Noncurrent income taxes	95	100	61	47	68
Other assets (includes $185,111 and $173,539, respectively, reported at fair value)	290	276	341	380	471
Total assets	3,169	3,398	4,272	4,741	4,959
Accounts payable and accrued liabilities	845	874	829	907	923
Customer deposits at Pitney Bowes Bank	583	646	640	628	632
Current operating lease liabilities	28	27	30	53	40
Current portion of long-term debt	17	53	59	33	—
Advance billings	69	70	76	105	—
Current income taxes	5	3	7	2	9
Total current liabilities	1,548	1,673	1,898	1,728	1,728
Long-term debt	1,976	1,866	2,087	2,173	2,299
Deferred taxes on income	73	49	211	263	286
Tax uncertainties and other income tax liabilities	278,000	14	19	24	32
Noncurrent operating lease liabilities	100	101	127	266	192
Noncurrent customer deposits at Pitney Bowes Bank	71	58	74	—	—
Other noncurrent liabilities	204	215	224	228	309
Total liabilities	3,971	3,976	4,641	4,681	4,846
Commitments and contingencies (See Note 16)	—	—	—	—	—
Common stock, $1 par value (480,000 shares authorized; 270,338 shares issued)	270	270	270	323	323
Retained earnings	2,656	2,672	3,078	5,126	5,169
Accumulated other comprehensive loss	−789	−839	−851	−836	−780
Treasury stock, at cost (119,634 and 87,932 shares, respectively)	−2,939	−2,681	−2,866	−4,553	−4,602
Total stockholders deficit	−802	−578	−369	61	113
Total liabilities and stockholders deficit	3,169	3,398	4,272	4,741	4,959

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	112	114	113	111	163
Allowance for credit losses	13	13	14	7	8
(Reduction) allowance for DIP Facility	−9	19	0	0	—
Stock-based compensation	14	17	9	16	21
Amortization of debt fees	7	13	11	9	7
Loss (gain) on debt redemption/refinancing	14	11	−3	5	56
Restructuring charges	58	77	52	—	—
Restructuring payments	−41	−86	−34	−15	−22
Pension contributions and retiree medical payments	−26	−25	−34	−27	−28
Pension settlement charges	0	91	0	0	—
Loss on disposal of fixed assets	11	13	14	9	—
Loss (gain) on revaluation of intercompany loans	22	−10	6	0	—
Impairment charges	268,000	10	124	0	—
Deferred taxes	38	−174	−36	6	−20
Other, net	8	−13	−7	42	9
Accounts and other receivables	−14	32	25	−14	38
Finance receivables	107	60	−3	−13	21
Inventories	−6	2	18	−3	−8
Other current assets and prepayments	817,000	996,000	21	14	−1
Accounts payable and accrued liabilities	−62	47	−16	49	58
Current and noncurrent income taxes	−7	−35	30	23	3
Advance billings	−3	−5	−8	−14	−14
Net cash from operating activities: continuing operations	383	276	235	341	302
Net cash from operating activities: discontinued operations	0	−47	−155	−166	0
Net cash from operating activities	383	229	80	175	302
Capital expenditures	−66	−72	−78	−83	−184
Purchases of investment securities	−35	−30	−19	−9	−75
Proceeds from sales/maturities of investment securities	28	77	25	29	97
Net investment in loan receivables	−61	−9	−30	−53	−6
DIP Facility net reimbursement (disbursement)	9	−17	0	0	—
Acquisition	−2	0	0	−5	−15
Settlement of derivative contracts	0	0	427,000	−28	0
Other investing activities, net	2	11	2	4	0
Net cash from investing activities: continuing operations	−125	−42	−99	18	−153
Net cash from investing activities: discontinued operations	0	−7	−25	−42	−2
Net cash from investing activities	−125	−49	−124	−24	−155
Proceeds from the issuance of debt, net of discount	1,005	0	267	0	1,196
Principal payments of debt	−934	−234	−323	−124	−1,446
Premiums and fees to redeem/refinance debt	−17	−14	−11	−9	−51
Dividends paid to stockholders	−51	−36	−35	−35	−35
Customer deposits at Pitney Bowes Bank	−50	−10	86	−4	15
Capped call payment	−25	0	0	—	—
Common stock repurchases	−378	0	0	−13	0
Other financing activities, net	6	−5	−6	−4	−9
Net cash from financing activities: continuing operations	−445	−299	−22	−188	—
Net cash from financing activities: discontinued operations	0	−7	−8	−10	—
Net cash from financing activities	−445	−305	−30	−198	−330
Effect of exchange rate changes on cash and cash equivalents	2	−5	6	−16	—
Change in cash and cash equivalents	−185	−130	−68	−63	−189

Filings

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