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Pitney BowesPBI +1.77%58 Net-Net Working Capital is $-25.26 as of Jun. 2026. GuruFocus rates PBI with a GF Score™ of 58/100 and a GF Value™ of $8.98 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 219 Transportation companies, Pitney Bowes ranks worse than 456620.55% on this metric.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Pitney Bowes's Net-Net Working Capital for the quarter that ended in Jun. 2026 was $-25.26.
The industry rank for Pitney Bowes's Net-Net Working Capital or its related term are showing as below:
PBI's Price-to-Net-Net-Working-Capital is not ranked *
in the Transportation industry.
Industry Median: 6.45 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Pitney Bowes (NYSE:PBI) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Pitney Bowes Net-Net Working Capital Related Terms
Pitney Bowes Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Pitney Bowes's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PBI vs HUBG, CYRX, FWRD: Net-Net Working Capital Comparison
For the Integrated Freight & Logistics subindustry, Pitney Bowes's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Pitney Bowes Price-to-Net-Net-Working-Capital vs Transportation Industry
For the Transportation industry and Industrials sector, Pitney Bowes's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Pitney Bowes's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $-25.26 mean?
Pitney Bowes (PBI) has a Net-Net Working Capital of $-25.26 as of Jun. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Pitney Bowes According to the industry distribution chart, Pitney Bowes ranks #999999 out of 219 companies in the Transportation industry.
Is Pitney Bowes' Net-Net Working Capital too high?
Pitney Bowes' current Net-Net Working Capital is $-25.26. Based on the distribution chart, Pitney Bowes ranks #999999 out of 219 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Pitney Bowes has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pitney Bowes' Net-Net Working Capital compare to HUBG and CYRX?
According to the Transportation industry distribution chart, Pitney Bowes ranks #999999 out of 219 companies for Net-Net Working Capital. This places Pitney Bowes in the lower half of its industry. The industry median Net-Net Working Capital is 6.45. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a Transportation company?
The median Net-Net Working Capital among Transportation companies is 6.45, based on 219 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Pitney Bowes For the Transportation industry, the median Net-Net Working Capital is 6.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pitney Bowes's current Net-Net Working Capital is $-25.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pitney Bowes stock overvalued right now?
Based on GuruFocus' analysis, Pitney Bowes (PBI) is currently considered Significantly Overvalued. The stock's GF Value™ is $8.98, compared to a current price of $18.39 — trading 104.8% above its estimated fair value. The current Net-Net Working Capital is $-25.26. Pitney Bowes' overall GF Score™ is 58/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Pitney Bowes (PBI), the current Net-Net Working Capital is $-25.26 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Pitney Bowes (PBI) Overvalued in 2026?
Based on GuruFocus' analysis, Pitney Bowes stock appears to be overvalued.
The current stock price of $18.39 is trading 104.8% above its estimated GF Value™ of $8.98.
GuruFocus considers Pitney Bowes to be Significantly Overvalued.
Key valuation signals for PBI:
Net-Net Working Capital: $-25.26
GF Value™: $8.98 vs. price of $18.39 (104.8% above fair value)
No single metric tells the full story. See the PBI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pitney Bowes Inc is a technology-driven company that provides SaaS shipping solutions, mailing innovation, and financial services to clients around the globe. The company's reportable segments are SendTech Solutions and Presort Services. SendTech Solutions includes the revenue and related expenses from physical and digital mailing and shipping technology solutions, financing, services, supplies and other applications to help simplify and save on the sending, tracking and receiving of letters, parcels and flats. Presort Services includes the revenue and related expenses from sortation services to qualify large volumes of First Class Mail, Marketing Mail and Marketing Mail Flats/Bound Printed Matter for postal work sharing discounts. It derives maximum revenue from SendTech Solutions.
58GF Score
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