Pitney Bowes Financials

$842.8 M

Revenue Q3, 2017

$2 B

Mkt cap, 11-Dec-2017
Net income (Q3, 2017)57.4 M
Cash, 30-Sep-20171.7 B
EV4.5 B

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

3.9 b3.8 b3.6 b3.4 b

Revenue growth, %

(1%)(6%)(5%)

R&D expense

121.3 m

General and administrative expense

1.2 b

Operating expense total

1.3 b

EBIT

403.2 m431.2 m610.8 m246.4 m

EBIT margin, %

10%11%17%7%

Interest expense

109.3 m90.9 m87.6 m89 m

Pre tax profit

403.2 m431.2 m610.8 m246.4 m

Income tax expense

83.1 m112.8 m189.8 m131.8 m

Net Income

161.2 m352.1 m426.3 m111.9 m

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

938.8 m937.5 m958.5 m941.6 m890.7 m880.9 m869.5 m844.6 m835.9 m839 m836.6 m821.4 m842.8 m

R&D expense

24.8 m26.2 m28.6 m26.1 m26 m28.5 m29.2 m26.6 m34.5 m28.7 m31.9 m33 m32.1 m

General and administrative expense

355.2 m351.4 m338.4 m341.7 m314.5 m315.6 m309.2 m326.9 m288.6 m301 m306.3 m297.5 m304.4 m

Operating expense total

846.1 m883 m820 m800.1 m755.1 m671.4 m733 m744.9 m742.6 m745.4 m740.1 m767.5 m767.9 m

Interest expense

24.1 m21.5 m22.2 m24.1 m21 m20.2 m19.3 m20.8 m22.3 m25.7 m27.6 m28.6 m

Interest income

1.5 m

Pre tax profit

92.6 m54.5 m138.5 m141.5 m135.6 m209.5 m136.6 m99.7 m93.2 m93.6 m96.5 m53.9 m75 m

Income tax expense

11.4 m8 m46.3 m25.3 m50.5 m52.4 m42.7 m37 m33.4 m23.2 m31.4 m5 m17.6 m

Net Income

49.3 m98.9 m136.9 m85.2 m156.4 m93.9 m62.6 m58.2 m70.1 m65.1 m48.9 m57.4 m

Balance Sheet

Annual

USDFY, 2013FY, 2015FY, 2016

Cash

907.8 m650.6 m764.5 m

Accounts Receivable

457.3 m455.5 m

Inventories

103.6 m88.8 m92.7 m

Current Assets

2.8 b2.3 b2.3 b

PP&E

245.2 m330.1 m314.6 m

Goodwill

1.7 b1.7 b1.6 b

Total Assets

6.8 b6.1 b5.8 b

Accounts Payable

1.4 b

Current Liabilities

2.2 b2.3 b2.3 b

Long-term debt

3.3 b2.5 b2.8 b

Total Debt

2.8 b

Total Liabilities

5.9 b

Additional Paid-in Capital

197 m161.3 m148.1 m

Retained Earnings

4.7 b5.2 b5.1 b

Debt to Assets Ratio

0.5 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

759.6 m903.3 m1 b923.7 m871.7 m754.2 m716 m613 m676 m992.1 m739.6 m840.6 m1.7 b

Accounts Receivable

430.2 m409.5 m399.1 m379.6 m400 m399.1 m383.8 m431.6 m427.6 m390 m389.3 m408.9 m

Inventories

134.3 m101 m101.3 m94.9 m95 m101.1 m103.2 m100.4 m111 m108.8 m115.6 m121.5 m118.3 m

Current Assets

3.2 b2.8 b2.8 b2.7 b2.5 b2.4 b2.3 b2.2 b2.3 b2.5 b2.2 b2.5 b3.2 b

PP&E

240.6 m237.9 m242.7 m266.5 m288.7 m305 m317 m335.8 m309.5 m312.6 m319.9 m327.1 m338.3 m

Goodwill

1.7 b1.7 b1.7 b1.7 b1.6 b1.7 b1.8 b1.8 b1.8 b1.8 b1.6 b1.6 b1.6 b

Total Assets

7.1 b6.6 b6.6 b6.4 b6.1 b6.3 b6.1 b6 b6 b6.3 b5.7 b6 b6.8 b

Accounts Payable

1.5 b1.5 b1.5 b1.4 b1.4 b1.4 b1.4 b1.3 b1.3 b1.3 b1.3 b1.3 b1.3 b

Short-term debt

274.9 m274.9 m274.9 m520.9 m521.1 m521.1 m269.7 m470.1 m535.3 m785.3 m985.3 m620.3 m

Current Liabilities

2.6 b2.4 b2.4 b2.3 b2.4 b2.4 b2.3 b2 b2.1 b2.2 b2.4 b2.6 b2.3 b

Long-term debt

3.4 b3.1 b3 b3 b2.6 b2.5 b2.5 b2.8 b2.6 b2.8 b2.5 b2.5 b3.6 b

Total Debt

3.4 b3.3 b3.2 b3.2 b3.1 b3 b3 b3 b3.1 b3.4 b3.3 b3.5 b4.2 b

Total Liabilities

6.8 b6.1 b6 b5.8 b5.8 b5.8 b5.7 b5.6 b5.6 b5.8 b5.8 b6 b6.7 b

Additional Paid-in Capital

201.6 m170 m172.6 m174.8 m152.9 m155.4 m156.2 m145.8 m148.2 m150 m126.6 m131.7 m133.4 m

Retained Earnings

4.6 b4.7 b4.8 b4.9 b4.9 b5.1 b5.1 b5.2 b5.2 b5.2 b5.1 b5.2 b5.2 b

Total Equity

191.4 m142 m

Financial Leverage

32.7 x43.2 x

Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

426.3 m111.9 m

Depreciation and Amortization

173.3 m178.5 m

Accounts Receivable

44 m

Cash From Operating Activities

(5.5 m)171.3 m514.6 m490.7 m

Capital Expenditures

(166.3 m)(160.8 m)

Cash From Investing Activities

(303.1 m)(115.6 m)

Cash From Financing Activities

(570.7 m)(224.1 m)

Free Cash Flow

681 m329.9 m

Quarterly

USDQ1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

49.3 m98.9 m136.9 m85.2 m241.6 m335.4 m62.6 m120.8 m190.9 m65.1 m114 m171.4 m

Depreciation and Amortization

85.2 m127.5 m44.3 m89.5 m140.2 m44.3 m88.2 m132 m

Accounts Receivable

32.8 m27.1 m76.6 m46.8 m51.9 m67.8 m78.3 m55.9 m

Inventories

(17.4 m)103.2 m(11.5 m)(22.6 m)(20.5 m)(22.2 m)(26.8 m)(22.8 m)

Cash From Operating Activities

200.3 m350.7 m58.4 m153.6 m290.9 m154 m184.6 m330.6 m

Capital Expenditures

(88.9 m)(129.6 m)(40.5 m)(71.4 m)(115.5 m)(35.9 m)(76.6 m)(119.6 m)

Cash From Investing Activities

(159.2 m)(203.7 m)(60 m)(16.5 m)(74.9 m)(68.9 m)(224.8 m)(155.7 m)

Short-term Borrowings

(90 m)

Cash From Financing Activities

(337.2 m)(471.8 m)(55.9 m)(116 m)121.5 m(119.5 m)91.4 m715.1 m

Free Cash Flow

111.4 m221.1 m17.9 m82.2 m175.4 m118.1 m108 m211 m

Ratios

USDY, 2017

EV/CFO

13.7 x

EV/FCF

21.4 x

Revenue/Employee

59.4 k

Operating Metrics

FY, 2016

Countries

220