Pitney Bowes Inc (PBI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Pitney Bowes Inc $16.97, price $16.27, upside +4.3%, quality 72 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $2.00 – $18.51 · fair‑value band $11.13 – $24.40 · the $16.27 price screens below the $16.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.
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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.
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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.
Stock analysis
Pitney Bowes Inc (PBI) currently trades at $16.27, while our model-based Fair Value estimate is $16.97, implying the stock looks roughly 4.1% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of $22.44 per share, and 10 of the 19 models we run sit above the $16.27 price.
Bear case: the Earnings-Based group reads lowest at $8.88, and 9 of the 19 models stay below the price. Evidence for this calculation is medium.
Scenario range: $11.13 (bear) to $24.40 (bull), the price of $16.27 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 72/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Pitney Bowes Inc reported revenue of $1.9B in FY2025 versus $3.7B in FY2021, a compound −15.3%/yr. Reported net income was $145M in FY2025, compounding +153.4%/yr from FY2021.
Key figures
Market cap $2.8B · P/E ratio 15.6 · P/S ratio 1.20 · EPS (TTM) $1.04 · Dividend yield 2.0% · Net margin 7.6% · Return on equity 11.0% · Return on assets (EBIT) 3.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 83% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 12% fair-value upside, at 4%, PBI screens richer than that median.
Fair Value models
Bear $11.13Fair Value $16.97Bull $24.40
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($0.5194 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−6.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−18.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.8%
Start year 2020 (pandemic). Over 10 years: −6.2% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.1%
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’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +79.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+77.7%
Dividend (yield on the price)2.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.78% vs −7%, picking up
Profit margin 2019 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.7% → 20%
Start year 2020 (pandemic)
⚠ Revenue per share shrinking 5.1%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
⚠ Approximate: the rate leans on 2025, which sits 532% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+7.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−0.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +5.3% a year for the price and −2.9% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Integrated Freight & Logistics · 217 stocks
Beats the industry median on 5/12 measures
A mixed picture versus its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside+4% · Below median
Profitability
Return on equity (TTM)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets8% · Top 25%
Net margin (TTM)9% · Top 25%
Operating margin (TTM)23% · Top 25%
Growth and dividend
Revenue growth−3% · Below median
Dividend yield (TTM)2.0% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (TTM)1.50× · Priciest 25%
P/FCF9.4× · Priciest 25%
EV/EBITDA9.0× · Pricier than median
PEG0.76× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)39· sector 51
FUTURE (revenue growth)0· sector 9
PAST (return on equity)0· sector 27
HEALTH (low debt)0· sector 92
DIVIDEND (yield)41· sector 60
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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Is Pitney Bowes Inc (PBI) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $16.97 versus a price of $16.27, about +4% upside (fairly valued).
What is the fair value of PBI?
Our model-based fair value for Pitney Bowes Inc is $16.97 (as of Sep 23, 2026), built from audited fundamentals. The current price: $16.27.
What is the quality score of PBI?
Pitney Bowes Inc has a Quality Score of 72/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Pitney Bowes Inc (PBI)?
Our model-based price target is the fair value of $16.97 (as of Sep 23, 2026) from 19 valuation models. Cautious scenario $11.13, optimistic scenario $24.40. It is a calculation from audited fundamentals, not an analyst target.
What is the Pitney Bowes Inc stock forecast for 2026?
Our models put fair value at $16.97, about +4% upside versus a price of $16.27 (fairly valued). Cautious scenario $11.13, optimistic scenario $24.40. The calculation is refreshed regularly with new filings.
What is the revenue of Pitney Bowes Inc (PBI)?
Pitney Bowes Inc reported trailing-twelve-month revenue of about $1.9B (latest available figure, as of Sep 23, 2026).
Does Pitney Bowes Inc pay a dividend?
Pitney Bowes Inc currently shows a dividend yield of about 2.03% relative to its recent price (as of Sep 23, 2026).
What growth is priced into Pitney Bowes Inc (PBI)?
For today's price to be fair in a discounted-cash-flow model, Pitney Bowes Inc would have to grow free cash flow by +7.8 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -11.8 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of PBI use?
Our models discount Pitney Bowes Inc at 11.2 %: a base by market capitalisation (mid), damped by beta 1.61, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Pitney Bowes Inc that is +7.8 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has Pitney Bowes Inc (PBI) delivered so far?
Over the past 5 years revenue at Pitney Bowes Inc grew -11.8 % a year. The price currently implies +7.8 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Pitney Bowes Inc (PBI) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Pitney Bowes Inc (+7.8 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Pitney Bowes Inc (PBI)?
The free-cash-flow yield on the price is 10.65 %: that much free cash flow Pitney Bowes Inc produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Pitney Bowes Inc (PBI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Pitney Bowes Inc it is $16.97 per share (as of Sep 23, 2026), against a price of $16.27. It is the blended result of 19 valuation models (cash flow, earnings, asset, dividend).
Is Pitney Bowes Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, PBI trades below its calculated fair value: price $16.27, fair value $16.97, a gap of about +4% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of PBI?
No. The price is what the market pays today ($16.27); the fair value is what the company's own numbers justify ($16.97). For Pitney Bowes Inc the two are $0.7000 per share apart. That gap is exactly why we show both numbers side by side.
How much is Pitney Bowes Inc worth?
The market values Pitney Bowes Inc at about $2.8B (market capitalisation, as of Sep 23, 2026). Per share that is $16.27; our models calculate a fair value of $16.97 per share.
What do the bullish and bearish scenarios say about PBI?
Our models span a range for Pitney Bowes Inc: cautious scenario $11.13, base $16.97, optimistic $24.40 per share (as of Sep 23, 2026, price $16.27). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of PBI?
Pitney Bowes Inc trades at a price-to-earnings ratio of 15.6 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $16.97 is built from several models across several years. Other multiples: PEG 0.8, P/S 1.5, EV/EBITDA 9.0.
What is the PEG ratio of PBI?
The PEG ratio of Pitney Bowes Inc is 0.76 (P/E divided by earnings growth, as of Sep 23, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Pitney Bowes Inc (PBI)?
Balance-sheet figures for Pitney Bowes Inc (as of Sep 23, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is PBI from its 52-week high?
Pitney Bowes Inc trades at $16.27, about 12% below its 52-week high of $18.51 and 83% above the low of $8.89 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $16.97 is for.
Which stocks are comparable to Pitney Bowes Inc?
From the same area (Industrials) we also value United Parcel Service, Inc, FedEx Corporation, Deutsche Post AG, DSV A/S, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Pitney Bowes Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $16.27, calculated fair value $16.97 (+4%), Quality Score 72/100, from 19 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of PBI calculated?
We run Pitney Bowes Inc through 19 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $16.97, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Pitney Bowes Inc currently trades 4 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Pitney Bowes Inc (PBI)?
The closing price on Sep 23, 2026 was $16.27. Our model-based fair value is $16.97, about +4% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Pitney Bowes Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($11.13 to $24.40) leaves room in how you read the outcome.
Key figures of Pitney Bowes Inc
How large is the market capitalisation of Pitney Bowes Inc (PBI)?
The market capitalisation of Pitney Bowes Inc is $2.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Pitney Bowes Inc (PBI)?
The price-to-sales ratio of Pitney Bowes Inc is 1.20 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Pitney Bowes Inc (PBI)?
Earnings per share at Pitney Bowes Inc are $1.04 (price ÷ EPS = P/E 15.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Pitney Bowes Inc (PBI)?
The dividend yield of Pitney Bowes Inc is 2.0% (payout 31.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Pitney Bowes Inc (PBI)?
The net margin of Pitney Bowes Inc is 7.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Pitney Bowes Inc (PBI)?
The return on equity (ROE) of Pitney Bowes Inc is 11.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Pitney Bowes Inc (PBI)?
On an EBIT basis the return on assets of Pitney Bowes Inc is 3.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Pitney Bowes Inc (PBI)?
The operating margin of Pitney Bowes Inc is 23.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Pitney Bowes Inc (PBI)?
Revenue at Pitney Bowes Inc is growing −3.2% versus a year earlier (3y avg −18.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Pitney Bowes Inc (PBI)?
Earnings per share at Pitney Bowes Inc are growing +105% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Pitney Bowes Inc (PBI) carry?
The net debt of Pitney Bowes Inc is $1.9B (fiscal year 2025, ≈ 6.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Sep 23, 2026