TacticScaleWhat Pitney Bowes Does & How It Makes Money (PBI)
Updated October 2026 · reflects Pitney Bowes's latest reported financials
Mailing, shipping technology and USPS presort services provider. It earns revenue from selling and leasing mailing and shipping equipment and software, plus recurring supplies, maintenance, and financing income; its Presort segment earns fees for sorting mail as a USPS workshare partner.
How Pitney Bowes makes money
It earns revenue from selling and leasing mailing and shipping equipment and software, plus recurring supplies, maintenance, and financing income; its Presort segment earns fees for sorting mail as a USPS workshare partner.
What Pitney Bowes does
Pitney Bowes, founded in 1920 as Pitney Bowes Postage Meter Company and based in Shelton, Connecticut, offers physical and digital shipping and mailing technology. Its SendTech Solutions segment sells mailing and shipping equipment and software for sending, tracking, and receiving letters, parcels, and flats. The segment also brings in recurring revenue from supplies, maintenance, and financing, including financing for other manufacturers' equipment. The Presort Services segment is a workshare partner of the United States Postal Service and sorts mail for business customers. The company sells through a direct and inside sales force, partner channels, direct mail, and digital channels.
Products & services
- Postage meters and mailing equipment
- Digital shipping and tracking software
- Supplies and maintenance services
- Equipment financing
- Presort mail sortation services
What is Pitney Bowes worth?
On an owner-earnings DCF, Pitney Bowes's most-likely value is about $31 versus a recent price near $17 (82% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$25) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $17 is below even the no-growth floor ($25); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -4.9%/yr. A bargain only if that pessimism is overdone.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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