Pitney Bowes vs RBC Bearings
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The short version
- Pitney Bowes is the larger business, with $1.9B of revenue in fiscal 2025 against $1.9B for RBC Bearings.
- RBC Bearings grew revenue faster (14.3%, against −6.6%).
- RBC Bearings turned more of its sales into free cash flow (18.3% FCF margin, against 16.8%).
- Pitney Bowes earned a higher return on the capital invested in it (27.7%, against 8.0%).
- Investors pay more for each dollar of RBC Bearings’s earnings: a P/E of 46.6x against 14.1x for Pitney Bowes.
| Latest fiscal year | PBI · FY25 | RBC · FY26 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $15.0B |
| Revenue | $1.9B | $1.9B |
| Free cash flow | $317M | $343M |
| Net income | $145M | $288M |
| Growth | ||
| Revenue growth | −6.6% | 14.3% |
| 5-year growth | −11.8% | 25.2% |
| Share count change | −5.2% | 4.2% |
| Profitability | ||
| Gross margin | — | 44.4% |
| Operating margin | — | 22.5% |
| Net margin | 7.7% | 15.4% |
| FCF margin | 16.8% | 18.3% |
| Return on capital | 27.7% | 8.0% |
| Return on equity | — | 9.0% |
| Balance sheet | ||
| Net debt | $1.7B | $864M |
| Net debt / EBITDA | 3.9x | 1.6x |
| Dividends and buybacks | $430M | $0.0M |
| Valuation & quality | ||
| P/E | 14.1x | 46.6x |
| Piotroski F-score | 6 | 6 |
Revenue
FY17
PBI $2.8B
RBC $615M
FY18
PBI $3.2B
RBC $675M
FY19
PBI $3.2B
RBC $703M
FY20
PBI $3.6B
RBC $728M
FY21
PBI $3.7B
RBC $609M
FY22
PBI $2.5B
RBC $943M
FY23
PBI $2.1B
RBC $1.5B
FY24
PBI $2.0B
RBC $1.6B
FY25
PBI $1.9B
RBC $1.6B
FY26
PBI —
RBC $1.9B
PBI
RBC
Operating margin
FY17
PBI —
RBC 18.6%
FY18
PBI —
RBC 19.1%
FY19
PBI —
RBC 18.8%
FY20
PBI —
RBC 20.5%
FY21
PBI —
RBC 18.8%
FY22
PBI —
RBC 12.8%
FY23
PBI —
RBC 19.9%
FY24
PBI —
RBC 21.9%
FY25
PBI —
RBC 22.6%
FY26
PBI —
RBC 22.5%
PBI
RBC
Free cash flow
FY17
PBI $336M
RBC $80.4M
FY18
PBI $207M
RBC $102M
FY19
PBI $131M
RBC $67.2M
FY20
PBI $197M
RBC $118M
FY21
PBI $117M
RBC $141M
FY22
PBI $92.4M
RBC $151M
FY23
PBI $2.0M
RBC $179M
FY24
PBI $157M
RBC $242M
FY25
PBI $317M
RBC $244M
FY26
PBI —
RBC $343M
PBI
RBC
Return on capital
FY17
PBI 11.0%
RBC 8.2%
FY18
PBI 12.1%
RBC 9.9%
FY19
PBI 6.2%
RBC 11.4%
FY20
PBI −3.3%
RBC 12.1%
FY21
PBI 4.1%
RBC 8.9%
FY22
PBI 12.7%
RBC —
FY23
PBI 3.1%
RBC —
FY24
PBI 8.7%
RBC 7.0%
FY25
PBI 27.7%
RBC 7.4%
FY26
PBI —
RBC 8.0%
PBI
RBC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.