Pitney Bowes Inc. (PBI) Balance Sheet
PBI balance sheet, 2025
December 31, 2025 · U.S. dollars$3.17B assets = $3.97B liabilities + −$802.4M equity
Liabilities exceed assets: shareholders’ equity is negative (−$802.4M).
Both columns are drawn to the same scale: what PBI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PBI financial health
Descriptive bands, not a rating. Fiscal 2025.
PBI balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.84B2016 | $3.17B2025 | −6.6%/yr | |
| Total liabilities | $5.94B2016 | $3.97B2025 | −4.4%/yr | |
| Shareholders’ equity | −$103.7M2016 | −$802.4M2025 | — | |
| Cash & short-term investments | $803.0M2016 | $297.1M2025 | −10.5%/yr | |
| Total debt | $3.36B2016 | $2.22B2025 | −4.5%/yr | |
| Net cash (debt) | −$2.56B2016 | −$1.92B2025 | +$638.1M | |
| Working capital | −$2.4M2016 | −$447.3M2025 | −$444.9M | |
| Book value per share | −$0.552016 | −$4.642025 | — | |
| Current ratio | 1.002016 | 0.712025 | −0.29 | |
| Debt / equity | 20.312017 | 41.612022 | +21.29 | |
| Shares outstanding | 189.0M2016 | 173.0M2025 | −1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PBI assets
PBI liabilities and equity
PBI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PBI balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $297.1M | $486.1M | $622.2M | $681.2M | $746.9M | $940.4M | $1.04B | $926.7M | $1.06B | $803.0M |
| Cash & equivalents | $284.9M | $469.7M | $600.1M | $670.0M | $732.5M | $921.5M | $924.4M | $867.3M | $1.01B | $764.5M |
| Short-term investments | $12.2M | $16.4M | $22.2M | $11.2M | $14.4M | $19.0M | $115.9M | $59.4M | $49.0M | $38.4M |
| Receivables | $667.7M | $706.0M | $764.3M | $917.3M | $909.2M | $980.5M | $373.5M | $371.8M | $524.4M | $1.36B |
| Inventory | $66.2M | $59.8M | $63.0M | $83.7M | $78.6M | $71.5M | $68.3M | $62.3M | $89.7M | $92.7M |
| Other current assets | $69.5M | $66.0M | $608.5M | $115.8M | $157.3M | $120.1M | $754.0M | $1.34B | $964.4M | $68.6M |
| Total current assets | $1.10B | $1.32B | $2.06B | $1.80B | $1.89B | $2.11B | $2.24B | $2.70B | $2.64B | $2.33B |
| Property, plant & equipment (net) | $317.0M | $356.6M | $404.2M | $744.3M | $672.4M | $631.6M | $618.2M | $588.2M | $557.5M | $502.7M |
| Goodwill & intangible assets | $761.4M | $736.8M | $754.8M | $1.14B | $1.27B | $1.31B | $1.51B | $1.55B | $2.22B | $1.74B |
| Long-term investments | $204.9M | $190.4M | $250.2M | $627.1M | $587.4M | $605.3M | $625.5M | $592.2M | $652.1M | $673.2M |
| Other non-current assets | $785.2M | $795.7M | $804.9M | $427.0M | $539.5M | $562.8M | $472.4M | $515.0M | $608.0M | $599.6M |
| Total assets | $3.17B | $3.40B | $4.27B | $4.74B | $4.96B | $5.22B | $5.47B | $5.94B | $6.68B | $5.84B |
| Liabilities | ||||||||||
| Accounts payable | $845.4M | $239.7M | $829.4M | $315.4M | $311.0M | $295.2M | $282.1M | $280.9M | $284.9M | $293.5M |
| Short-term debt | $45.5M | $80.2M | $88.8M | $85.3M | $65.0M | $259.9M | $56.2M | $237.5M | $271.1M | $614.5M |
| Deferred revenue | — | $971.9M | $716.6M | $105.2M | $916.9M | $114.5M | $2.9M | $2.7M | $288.4M | $303.5M |
| Total current liabilities | $1.55B | $1.67B | $1.90B | $1.73B | $1.73B | $1.87B | $1.57B | $1.89B | $2.07B | $2.33B |
| Long-term debt | $2.00B | $1.95B | $2.13B | $2.17B | $2.30B | $2.35B | $2.72B | $3.07B | $3.56B | $2.75B |
| Lease obligations | $128.2M | $127.7M | $338.1M | $318.3M | $232.4M | $219.5M | $213.8M | — | — | — |
| Other long-term liabilities | $421.2M | $355.1M | $614.7M | $780.4M | $819.2M | $934.9M | $891.5M | $880.7M | $870.3M | $862.8M |
| Total liabilities | $3.97B | $3.98B | $4.64B | $4.68B | $4.85B | $5.15B | $5.18B | $5.84B | $6.49B | $5.94B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $270.3M | $270.3M | $270.3M | $323.3M | $323.3M | $323.3M | $323.3M | $323.3M | $323.3M | $323.3M |
| Retained earnings (deficit) | $2.66B | $2.67B | $3.08B | $5.13B | $5.17B | $5.21B | $5.44B | $5.28B | $5.23B | $5.11B |
| Treasury stock | — | — | — | — | −$4.60B | −$4.69B | −$4.73B | −$4.67B | −$4.71B | −$4.74B |
| Accumulated other comprehensive income | −$789.1M | −$839.2M | −$851.2M | −$835.6M | −$780.3M | −$839.1M | −$840.1M | −$949.0M | −$792.2M | −$940.1M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | −$802.4M | −$578.4M | −$368.6M | $60.7M | $112.6M | $70.6M | $286.1M | $101.8M | $188.6M | −$103.7M |
| Key figures | ||||||||||
| Total debt | $2.22B | $2.05B | $2.30B | $2.52B | $2.56B | $2.81B | $2.95B | $3.43B | $3.83B | $3.36B |
| Net cash (debt) | −$1.92B | −$1.56B | −$1.68B | −$1.84B | −$1.81B | −$1.87B | −$1.91B | −$2.50B | −$2.77B | −$2.56B |
| Working capital | −$447.3M | −$354.8M | $159.6M | $70.2M | $164.1M | $242.1M | $666.4M | $807.7M | $567.2M | −$2.4M |
| Tangible book value | −$1.56B | −$1.32B | −$1.12B | −$1.08B | −$1.15B | −$1.24B | −$1.23B | −$1.44B | −$2.04B | −$1.84B |
| Book value per share | −$4.64 | −$3.17 | −$2.10 | $0.34 | $0.63 | $0.41 | $1.61 | $0.54 | $1.01 | −$0.55 |
| Shares outstanding | 173.0M | 182.5M | 175.6M | 177.3M | 179.1M | 171.5M | 177.4M | 188.4M | 187.4M | 189.0M |
| Current ratio | 0.71 | 0.79 | 1.08 | 1.04 | 1.09 | 1.13 | 1.42 | 1.43 | 1.27 | 1.00 |
| Quick ratio | 0.62 | 0.71 | 0.73 | 0.93 | 0.96 | 1.03 | 0.90 | 0.69 | 0.76 | 0.93 |
| Debt / equity | — | — | — | 41.61 | 22.70 | 39.75 | 10.32 | 33.64 | 20.31 | — |
| Equity / assets | −25.3% | −17.0% | −8.6% | 1.3% | 2.3% | 1.4% | 5.2% | 1.7% | 2.8% | −1.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $278.8M | $314.0M | $297.1M | $336.0M | $300.8M | $340.0M | $486.1M | $575.5M | $612.0M | $538.0M | $623.2M | $579.4M |
| Cash & equivalents | $266.8M | $302.9M | $284.9M | $321.0M | $285.2M | $323.8M | $469.7M | $561.5M | $590.1M | $516.1M | $601.1M | $557.7M |
| Short-term investments | $11.9M | $11.1M | $12.2M | $15.0M | $15.6M | $16.2M | $16.4M | $14.0M | $21.9M | $21.9M | $22.2M | $21.7M |
| Receivables | $619.0M | $642.8M | $667.7M | $663.6M | $663.6M | $687.7M | $706.0M | $739.2M | $816.0M | $855.4M | $906.3M | $845.1M |
| Inventory | $62.9M | $62.6M | $66.2M | $75.7M | $79.0M | $65.1M | $59.8M | $71.6M | $76.5M | $78.7M | $70.1M | $83.8M |
| Other current assets | $79.2M | $109.9M | $69.5M | $74.3M | $82.6M | $92.1M | $66.0M | $99.8M | $101.3M | $110.0M | $92.3M | $109.2M |
| Total current assets | $1.04B | $1.13B | $1.10B | $1.15B | $1.13B | $1.18B | $1.32B | $1.49B | $1.61B | $1.58B | $1.69B | $1.62B |
| Property, plant & equipment (net) | $278.8M | $312.1M | $317.0M | $314.1M | $329.4M | $342.1M | $356.6M | $350.4M | $679.4M | $697.6M | $717.2M | $726.3M |
| Goodwill & intangible assets | $753.4M | $756.7M | $761.4M | $762.5M | $765.3M | $747.6M | $736.8M | $754.3M | $782.0M | $787.6M | $796.7M | $1.01B |
| Long-term investments | $0 | $0 | $204.9M | $0 | $0 | $0 | $190.4M | $0 | $0 | $0 | $250.2M | $0 |
| Other non-current assets | $947.5M | $949.2M | $785.2M | $1.03B | $1.02B | $995.1M | $795.7M | $1.06B | $1.01B | $1.04B | $816.2M | $1.07B |
| Total assets | $3.02B | $3.15B | $3.17B | $3.26B | $3.24B | $3.27B | $3.40B | $3.65B | $4.08B | $4.10B | $4.27B | $4.42B |
| Liabilities | ||||||||||||
| Accounts payable | $743.2M | $767.0M | $845.4M | $698.7M | $742.8M | $743.8M | $239.7M | $18.3M | $843.1M | $784.0M | $282.4M | $792.9M |
| Short-term debt | $53.1M | $393.3M | $45.5M | $43.2M | $42.4M | $41.5M | $80.2M | $85.7M | $179.6M | $118.2M | $132.0M | $173.1M |
| Deferred revenue | $546.5M | $72.5M | — | $675.0M | $76.2M | $700.2M | $971.9M | $670.7M | $86.3M | $89.0M | $89.1M | $87.7M |
| Total current liabilities | $1.42B | $1.82B | $1.55B | $1.42B | $1.49B | $1.49B | $1.67B | $1.68B | $1.68B | $1.63B | $1.73B | $1.64B |
| Long-term debt | $2.01B | $1.77B | $1.98B | $2.09B | $1.93B | $1.95B | $1.92B | $2.11B | $2.07B | $2.08B | $2.09B | $2.10B |
| Lease obligations | $123.8M | $130.0M | $128.2M | $121.3M | $127.5M | $128.1M | $127.7M | $147.0M | $324.9M | $332.1M | $338.1M | $338.2M |
| Other long-term liabilities | $454.5M | $448.2M | $447.6M | $407.1M | $353.2M | $365.6M | $378.8M | $370.8M | $763.1M | $793.9M | $823.3M | $805.7M |
| Total liabilities | $3.88B | $4.04B | $3.97B | $3.92B | $3.78B | $3.81B | $3.98B | $4.17B | $4.51B | $4.50B | $4.64B | $4.55B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $270.3M | $270.3M | $270.3M | $270.3M | $270.3M | $270.3M | $270.3M | $270.3M | $270.3M | $270.3M | $270.3M | $323.3M |
| Retained earnings (deficit) | $2.70B | $2.69B | $2.66B | $2.66B | $2.67B | $2.65B | $2.67B | $2.75B | $2.95B | $3.03B | $3.08B | $4.87B |
| Accumulated other comprehensive income | −$790.4M | −$792.3M | −$789.1M | −$765.4M | −$764.3M | −$811.6M | −$839.2M | −$820.9M | −$865.5M | −$863.8M | −$851.2M | −$838.1M |
| Total shareholders' equity | −$863.3M | −$893.6M | −$802.4M | −$661.5M | −$536.8M | −$535.9M | −$578.4M | −$518.9M | −$427.9M | −$392.4M | −$368.6M | −$125.1M |
| Key figures | ||||||||||||
| Total debt | $2.16B | $2.27B | $2.22B | $2.23B | $2.02B | $2.04B | $2.05B | $2.26B | $2.51B | $2.47B | $2.54B | $2.55B |
| Net cash (debt) | −$1.88B | −$1.95B | −$1.92B | −$1.89B | −$1.72B | −$1.70B | −$1.56B | −$1.68B | −$1.90B | −$1.93B | −$1.91B | −$1.98B |
| Working capital | −$377.8M | −$689.1M | −$447.3M | −$272.2M | −$362.9M | −$304.1M | −$354.8M | −$198.4M | −$72.4M | −$43.3M | −$38.5M | −$23.0M |
| Tangible book value | −$1.62B | −$1.65B | −$1.56B | −$1.42B | −$1.30B | −$1.28B | −$1.32B | −$1.27B | −$1.21B | −$1.18B | −$1.17B | −$1.14B |
| Book value per share | −$6.21 | −$5.67 | −$5.09 | −$3.65 | −$2.97 | −$2.94 | −$3.17 | −$2.82 | −$2.39 | −$2.22 | −$2.09 | −$0.71 |
| Shares outstanding | 139.0M | 157.5M | 157.5M | 181.0M | 181.0M | 182.5M | 182.5M | 183.8M | 178.7M | 177.0M | 176.4M | 176.1M |
| Current ratio | 0.73 | 0.62 | 0.71 | 0.81 | 0.76 | 0.80 | 0.79 | 0.88 | 0.96 | 0.97 | 0.98 | 0.99 |
| Quick ratio | 0.63 | 0.53 | 0.62 | 0.70 | 0.65 | 0.69 | 0.71 | 0.78 | 0.85 | 0.86 | 0.88 | 0.87 |
| Equity / assets | −28.6% | −28.4% | −25.3% | −20.3% | −16.6% | −16.4% | −17.0% | −14.2% | −10.5% | −9.6% | −8.6% | −2.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 19, 2026); data from EODHD.
PBI financial position
At the end of fiscal 2025 (December 31, 2025), Pitney Bowes had total assets of $3.2 billion (down 6.7% from a year earlier), total liabilities of $4.0 billion and shareholders' equity of -$802.4 million. It held $297.1 million in cash and short-term investments against $2.2 billion of debt, net debt of $1.9 billion. Its current ratio was 0.71. In the latest quarter (ended June 30, 2026) total assets were $3.0 billion and equity -$863.3 million.
Related: PBI income statement, PBI cash flow statement, PBI key metrics. See the PBI stock overview for the latest quote and news.
PBI balance sheet FAQ
What are Pitney Bowes's total assets?
Pitney Bowes reported total assets of $3.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.4 billion a year earlier.
How much debt does Pitney Bowes have?
Pitney Bowes had $2.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Pitney Bowes have?
Pitney Bowes held $297.1 million in cash and short-term investments at the end of fiscal 2025; with $2.2 billion of debt that is net debt of $1.9 billion.
What is Pitney Bowes's book value?
Pitney Bowes's shareholders' equity (book value) was -$802.4 million at the end of fiscal 2025, or −$4.64 per share.
What is Pitney Bowes's current ratio?
Pitney Bowes had current assets of $1.1 billion and current liabilities of $1.5 billion, a current ratio of 0.71 (current liabilities exceed current assets).
How much goodwill does Pitney Bowes have?
Pitney Bowes carried $761.4 million of goodwill and intangible assets, 24.0% of total assets, at the end of fiscal 2025.