PBI vs XRX vs ZBRA Stock Comparison

Pitney Bowes, Xerox Holdings and Zebra Technologies Prices as of Oct 29, 2026 Peers: Industry group
PBI Pitney Bowes Inc /De/
$16.47 +1.0% 1M +46.9% 1Y
Market cap
$2.22B
P/E
11.8x
Revenue (TTM)
$1.86B
Div. yield
0.02%
Office Equipment Industrials
8 wins
XRX Xerox Holdings Corp
$1.66 -48.3% 1M -51.6% 1Y
Market cap
$191.76M
P/E
–
Revenue (TTM)
$7.49B
Div. yield
0.21%
Office Equipment Industrials
3 wins
ZBRA Zebra Technologies Corp
$377.38 +0.4% 1M +39.4% 1Y
Market cap
$17.11B
P/E
31.7x
Revenue (TTM)
$5.85B
Div. yield
–
Electronic Components Technology
1 win

Head to Head

12 decided of 12

Pitney Bowes leads on 8 of the 12 questions below (Pitney Bowes 8, Xerox Holdings 3, Zebra Technologies 1). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionPBIXRXZBRALeader
Larger companyMarket capitalisation $2.22B $191.76M $17.11B ZBRA
Cheaper on earningsLower P/E, profitable companies only 11.8x -0.2x 31.7x PBI
Cheaper on forward earningsLower price / next fiscal year consensus EPS 9.2x 11.1x 16.7x PBI
Faster revenue growthRevenue growth, trailing twelve months -3.5% +18.9% +12.7% XRX
More profitableNet margin, trailing twelve months 10.1% -12.4% 9.2% PBI
Better return on capitalReturn on invested capital 20.3% -1,131.5% 10.6% PBI
Less leveragedLower net debt / EBITDA 3.9x 0.1x 2.4x XRX
Higher dividend yieldTrailing dividend yield 0.02% 0.21% 0.00% XRX
Better 1-year returnPrice return, last 12 months +46.9% -51.6% +39.4% PBI
Better 5-year returnAnnualised price return, 5 years +18.9%/yr -37.8%/yr -6.7%/yr PBI
Less volatileAnnualised volatility, 1 year 34.3% 103.5% 45.5% PBI
Higher overall scoreMean of the five percentile scores vs peers 78/100 38/100 62/100 PBI

Percentile Scorecard

PBIXRXZBRA

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisPBIXRXZBRA
Valuation 94 #8 of 113 90 #12 of 113 69 #35 of 112
Growth 92 #9 of 96 26 #71 of 96 46 #59 of 108
Profitability 96 #5 of 91 12 #80 of 91 85 #17 of 104
Financial Health 16 #103 of 122 32 #83 of 122 17 #96 of 116
Shareholder Returns 91 #7 of 66 28 #48 of 66 92 #7 of 78
Overall 78 38 62
  • PBI ranked among 130 companies in Business Services
  • XRX ranked among 130 companies in Business Services
  • ZBRA ranked among 121 companies in Computer Hardware

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodPBIXRXZBRASPY
1 month +1.0%-48.3%+0.4% +0.7%
3 months -9.2%-52.4%+30.8% +3.7%
6 months +6.5%-26.2%+66.8% +7.1%
Year to date +55.8%-30.0%+55.4% +12.8%
1 year +46.9%-51.6%+39.4% +11.9%
3 years +424.5%-86.5%+79.9% +85.2%
3 years, per year +73.8%-48.7%+21.6% +22.8%
5 years +137.3%-90.7%-29.3% +67.6%
5 years, per year +18.9%-37.8%-6.7% +10.9%
10 years -9.0%-93.6%+469.5% +262.0%
10 years, per year -0.9%-24.0%+19.0% +13.7%

Risk

MeasurePBIXRXZBRASPY
Volatility, 1Y 34.3%103.5%45.5% 12.7%
Downside volatility, 1Y 34.6%103.7%38.1% 12.6%
Beta vs S&P 500, 1Y 0.722.451.70 1.00
Return / volatility, 1Y 1.37-0.500.87 0.94
Max drawdown, 5Y -70.9%-94.9%-67.8% -25.4%
From 52-week high -11.1%-54.1%-3.5% -1.2%
52-week high $18.52$3.62$391.00 $779.14
52-week low $9.02$1.22$199.30 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultiplePBIXRXZBRA
P/E now vs peer median 12.0xmedian 21.9x -0.2xmedian 21.9x 33.4xmedian 32.9x
P/S now vs peer median 1.2xmedian 0.9x 0.0xmedian 0.9x 3.1xmedian 2.9x
EV/EBITDA now vs peer median 9.3xmedian 11.9x 0.0xmedian 11.9x 19.1xmedian 20.0x
P/FCF now vs peer median 4.4xmedian 14.4x 3.4xmedian 14.4x 19.8xmedian 30.2x
P/B now vs peer median -2.7xmedian 2.4x 0.7xmedian 2.4x 5.2xmedian 2.9x
PEG now vs peer median 0.23median 0.97 0.00median 0.97 -8.84median 1.08

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsPBIXRXZBRA
Revenue $1.86B $7.49B $5.85B
Gross profit $1.06B $2.16B $2.90B
Operating income $305.03M -$5.71B $858.00M
Net income $188.05M -$925.00M $539.00M
Free cash flow $504.62M $64.00M $904.00M
R&D $14.07M $255.00M $622.00M
EPS (diluted) $1.34 $-7.29 $11.20
Cash & equivalents $268.51M $495.00M $157.00M
Total debt $1.89B $82.00M $2.77B
Shares (diluted) 140.73M 126.92M 48.13M
Enterprise value $1.05B -$1.88B $15.66B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricPBIXRXZBRA
P/E 12.0x -0.2x 33.4x
P/FCF 4.4x 3.4x 19.8x
P/Operating cash flow 3.9x 1.0x 18.2x
P/S 1.2x 0.0x 3.1x
P/B -2.7x 0.7x 5.2x
P/Tangible book -2.6x -0.4x 6.6x
EV/EBITDA 9.3x 0.0x 19.1x
EV/EBIT 12.6x 0.0x 23.9x
EV/Revenue 2.1x 0.0x 3.5x
EV/FCF 7.6x -3.0x 22.6x
EV/Operating cash flow 6.7x -0.9x 20.9x
PEG (3Y EPS CAGR) 0.23 0.00 -8.84

Growth

14 metrics
MetricPBIXRXZBRA
Revenue growth (1Y) -3.5% 18.9% 12.7%
Revenue CAGR (3Y) 9.8% 1.5% 2.1%
Gross profit growth (1Y) -2.2% 9.9% 14.9%
Gross profit CAGR (3Y) -0.3% -5.3% 4.2%
Operating income growth (1Y) 87.0% -4.8% 8.1%
Operating income CAGR (3Y) 35.9% -5.6% -0.9%
Net income growth (1Y) 135.1% 35.0% -1.6%
Net income CAGR (3Y) 47.5% -54.5% -6.1%
EPS growth (1Y) 184.6% 35.5% 4.8%
EPS CAGR (3Y) 52.0% -65.6% -3.8%
Operating cash flow growth (1Y) 94.2% -40.9% 5.8%
Operating cash flow CAGR (3Y) 12.2% -14.8% 63.5%
Free cash flow growth (1Y) 124.1% -77.1% 6.0%
Free cash flow CAGR (3Y) 11.1% -38.9% 83.6%

Profitability

14 metrics
MetricPBIXRXZBRA
Gross margin 57.1% 28.9% 49.6%
EBITDA margin 22.1% -71.1% 18.3%
Operating margin 16.4% -76.3% 14.7%
Pretax margin 13.7% -5.2% 12.1%
Net margin 10.1% -12.4% 9.2%
FCF margin 27.1% 0.9% 15.5%
Operating cash flow margin 30.6% 2.9% 16.7%
Return on equity – -291.7% 15.6%
Return on assets 6.3% -9.4% 6.4%
Return on invested capital 20.3% -1,131% 10.6%
Return on capital employed 20.2% -85.4% 19.1%
Asset turnover 0.6x 0.8x 0.7x
Cash conversion (OCF / net income) 3.0x -0.2x 1.8x
Stock comp / revenue 0.9% 0.5% 3.0%

Financial Health

11 metrics
MetricPBIXRXZBRA
Debt / assets 63.1% 0.8% 32.0%
Debt / equity -2.3x 0.2x 0.8x
Net debt / EBITDA 3.9x 0.1x 2.4x
Debt / FCF 3.7x 1.3x 3.1x
Liabilities / assets 128.0% 96.6% 60.2%
Equity / assets -28.0% 3.4% 39.8%
Interest coverage 6.0x -19.0x –
Current ratio 0.7x 1.2x 0.5x
Quick ratio 0.3x 0.6x 0.3x
Cash ratio 0.2x 0.2x 0.0x
Altman Z-score 2.41 -0.75 3.71

Shareholder Returns

7 metrics
MetricPBIXRXZBRA
Dividend yield 2.3% 6.9% –
Net buyback yield 14.9% – 5.1%
Shareholder yield 17.2% 6.9% 5.1%
Payout ratio (earnings) 29.1% -4.4% –
Payout ratio (FCF) 10.9% 64.1% –
Dividend growth (1Y) 19.0% -73.5% –
Dividend CAGR (3Y) 16.0% -40.2% –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusPBIXRXZBRA
Forward P/E 9.2xFY2026 11.1xFY2026 16.7xFY2026
EPS, next fiscal year $1.79FY2026 $0.15FY2026 $22.59FY2026
EPS growth, next FY +32.6%FY2026 – +42.6%FY2026
EPS growth, the year after +5.0% +173.3% -4.5%
Revenue, next fiscal year $1.77BFY2026 $7.17BFY2026 $6.35BFY2026
Revenue growth, next FY -6.3%FY2026 +2.1%FY2026 +17.7%FY2026
Revenue growth, the year after +10.9% +1.3% +1.2%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersPBIXRXZBRA
Held by institutions 88.8% 71.2% 100.0%
Institutions holding 350 232 645
Change in shares held, QoQ +2.6% +5.7% +4.5%
Institutions buying 167 131 309
Institutions selling 119 57 242
Buyers to sellers 1.40 2.30 1.28

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

PBIXRXZBRA
PBI 1.00 0.25 0.11
XRX 0.25 1.00 0.25
ZBRA 0.11 0.25 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, PBI, XRX and ZBRA?

Zebra Technologies (ZBRA) is the largest by market capitalisation: Pitney Bowes (PBI) $2.22B, Xerox Holdings (XRX) $191.76M, Zebra Technologies (ZBRA) $17.11B.

Which stock is cheaper, PBI, XRX and ZBRA?

Pitney Bowes (PBI) trades on the lowest price-to-earnings ratio (Pitney Bowes (PBI) 11.8x, Xerox Holdings (XRX) -0.2x, Zebra Technologies (ZBRA) 31.7x). On next year's consensus earnings, Pitney Bowes (PBI) is cheapest (Pitney Bowes (PBI) 9.2x, Xerox Holdings (XRX) 11.1x, Zebra Technologies (ZBRA) 16.7x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Xerox Holdings (XRX) grew revenue fastest over the trailing twelve months: Pitney Bowes (PBI) -3.5%, Xerox Holdings (XRX) +18.9%, Zebra Technologies (ZBRA) +12.7%.

Which company is more profitable?

Pitney Bowes (PBI) has the highest net margin (Pitney Bowes (PBI) 10.1%, Xerox Holdings (XRX) -12.4%, Zebra Technologies (ZBRA) 9.2%). On return on invested capital, Pitney Bowes (PBI) leads (Pitney Bowes (PBI) 20.3%, Xerox Holdings (XRX) -1,131.5%, Zebra Technologies (ZBRA) 10.6%).

Which stock has performed better?

Over the past year Pitney Bowes (PBI) returned the most: Pitney Bowes (PBI) +46.9%, Xerox Holdings (XRX) -51.6%, Zebra Technologies (ZBRA) +39.4%. Over five years, Pitney Bowes (PBI) compounded fastest (Pitney Bowes (PBI) +18.9%/yr, Xerox Holdings (XRX) -37.8%/yr, Zebra Technologies (ZBRA) -6.7%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Xerox Holdings (XRX) has the highest dividend yield: Pitney Bowes (PBI) 0.02%, Xerox Holdings (XRX) 0.21%, Zebra Technologies (ZBRA) 0.00%. Zebra Technologies (ZBRA) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Pitney Bowes (PBI) has been the steadiest (Pitney Bowes (PBI) 34.3%, Xerox Holdings (XRX) 103.5%, Zebra Technologies (ZBRA) 45.5%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, PBI, XRX and ZBRA?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Pitney Bowes (PBI) leads on 8. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.