Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.09, read 2026-10-28
Ethical does not pass the values gate
Price17.35 USD
Fair value22.00
Ethical score70.0/100
Our investment reviews on this name
2026-10-21Read Accumulation16.75+3.6% to today ✓Markdown gives way to Accumulation
2026-10-18Read Markdown16.75+3.6% to today Accumulation gives way to Markdown first Markdown read since October
2026-10-11Read Accumulation16.76+3.5% to today ✓Markdown gives way to Accumulation
2026-09-09Read Markdown17.01+2.0% to today Markup gives way to Markdown with results news in the headlines
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Pitney Bowes Inc. holds its Accumulation at $17.35. The statistical read favours the sellers, held for 69 days.
As held on the ledger · 2026-10-23
Phase
Accumulation
Quantitative state
The statistical read favours the sellers, held for 69 days
Price at the screen
$17.35
Valuation
14.15 trailing · 9.55 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.65
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
66.94%
Below 33%
Interest-bearing debt is 66.9% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.39%
Below 33%
Cash held in interest-bearing accounts and securities is 0.4% of assets, under the one-third limit.
Pass
Receivables
14.29%
Below 49%
Money owed to the company is 14.3% of assets, under the 49% limit.
Pass
Revenue purity
0.42%
Below 5%
Only 0.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Pitney Bowes's business is in a permissible area, but its interest-bearing debt is about 67% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Today PBI does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 26.8% margin of safety to the base estimate.
Third-party analyst targets: 5 covering, consensus None. The average target sits +7% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Mailing firm clings to a fading franchise
Every parcel that still needs a stamp or a presort service runs through a shrinking network that digital platforms have largely bypassed. Pitney Bowes sits in that narrowing lane, selling mailing hardware and logistics software at a forward multiple of just 10.6 times earnings. Revenue is already falling 3 percent a year, yet the shares trade only 8 percent below our $20.00 fair value and well above the $16.00 median target from five analysts. The ethical screen raises no flags.
Margins sit at 9 percent with no visible moat to protect them. A low multiple on a business losing top-line ground is rarely a bargain; it often signals peak earnings that will not repeat. The small margin of safety offers little cushion if volumes keep sliding or if competitors capture the remaining physical mail flow.
Currency moves, contract losses, and further digitisation all sit on the downside. Without clearer growth or durable pricing power, the name stays outside our opportunity set. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PBI trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Accumulation$17.40+0.0%Entry 16
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-27Accumulation$17.40+0.0%Entry 15
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-26Accumulation$17.40+0.0%Entry 14
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-25Accumulation$17.40+0.0%Entry 13
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-24Accumulation$17.40+0.0%Entry 12
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-23Accumulation$17.40+0.0%Entry 11
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Accumulation$17.40+3.9%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 3.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 28% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown · changed$16.75-0.1%Entry 8
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 1.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is momentum reading neutral. Over the past year the shares are up 66%. Our forward projection puts the odds of a 10% gain over the next month near 41%. The street (5 analysts) rates it none, with a mean price target of $17. Insiders have been net sellers over the past quarter.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
