ZBRA

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Zebra Technologies Corp.

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Key Metrics

Previous Close: $354.65
52-Week Range: $199.05 – $386.23
Market Cap: $17.06B
P/E (TTM): 32.48
EPS (TTM): 11.10
Dividend Yield: —

Advanced Metrics

Price/Book: 5.03
PEG Ratio: 0.66
Return on Equity: 15.29%
Return on Assets: 7.32%
Gross Margin: 49.58%
Operating Margin: 21.26%
Profit Margin: 9.22%
Current Ratio: 0.52
Debt/Equity: 0.86
Total Debt: $2.96B
Free Cash Flow: $576.75M
Revenue Growth: 20.40%
Earnings Growth: 121.50%
Enterprise Value: $19.86B

ZBRA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$5.78B	$4.58B	$4.98B	$5.40B
Cost of Revenue	$3.16B	$2.46B	$2.57B	$2.80B
Gross Profit	$2.62B	$2.12B	$2.41B	$2.59B
Research & Development	$570.00M	$519.00M	$563.00M	$593.00M
Selling, General & Admin	$982.00M	$915.00M	$981.00M	$1.09B
Operating Expenses	$1.69B	$1.54B	$1.65B	$1.79B
Operating Income	$936.00M	$585.00M	$765.00M	$800.00M
EBITDA	$1.14B	$643.00M	$905.00M	$853.00M
Pretax Income	$544.00M	$334.00M	$635.00M	$560.00M
Income Tax	$81.00M	$38.00M	$107.00M	$141.00M
Net Income	$463.00M	$296.00M	$528.00M	$419.00M
Diluted EPS	8.80	5.72	10.18	8.18
Diluted Shares	52.56M	51.71M	51.88M	51.21M

ZBRA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$105.00M	$137.00M	$901.00M	$125.00M
Receivables	$794.00M	$584.00M	$712.00M	$832.00M
Inventory	$860.00M	$804.00M	$693.00M	$729.00M
Current Assets	$1.88B	$1.67B	$2.44B	$1.80B
Total Assets	$7.53B	$7.31B	$7.97B	$8.50B
Current Liabilities	$2.33B	$1.60B	$1.70B	$1.85B
Long-Term Debt	$1.81B	$2.05B	$2.09B	$2.36B
Total Debt	$2.20B	$2.41B	$2.36B	$2.70B
Total Liabilities	$4.80B	$4.27B	$4.38B	$4.91B
Retained Earnings	$4.04B	$4.33B	$4.86B	$5.28B
Shareholders' Equity	$2.73B	$3.04B	$3.59B	$3.59B
Working Capital	-$449.00M	$74.00M	$736.00M	-$56.00M
Net Debt	$1.92B	$2.08B	$1.27B	$2.38B

ZBRA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$488.00M	-$4.00M	$1.01B	$917.00M
Capital Expenditure	-$75.00M	-$87.00M	-$59.00M	-$86.00M
Free Cash Flow	$413.00M	-$91.00M	$954.00M	$831.00M
Depreciation & Amortisation	$204.00M	$176.00M	$172.00M	$185.00M
Stock-Based Compensation	$88.00M	$55.00M	$89.00M	$163.00M
Investing Cash Flow	-$968.00M	-$92.00M	-$57.00M	-$1.46B
Financing Cash Flow	$253.00M	$117.00M	-$190.00M	-$239.00M
Share Repurchases	-$751.00M	-$52.00M	-$47.00M	-$587.00M
Net Change in Cash	-$227.00M	$21.00M	$766.00M	-$777.00M

ZBRA Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$1.31B	$1.29B	$1.32B	$1.48B	$1.50B
Cost of Revenue	$663.00M	$677.00M	$686.00M	$777.00M	$753.00M
Gross Profit	$645.00M	$616.00M	$634.00M	$698.00M	$742.00M
Research & Development	$151.00M	$144.00M	$146.00M	$152.00M	$165.00M
Selling, General & Admin	$272.00M	$260.00M	$270.00M	$284.00M	$316.00M
Operating Expenses	$447.00M	$429.00M	$441.00M	$476.00M	$518.00M
Operating Income	$198.00M	$187.00M	$193.00M	$222.00M	$224.00M
EBITDA	$229.00M	$206.00M	$224.00M	$194.00M	$260.00M
Pretax Income	$165.00M	$138.00M	$159.00M	$98.00M	$167.00M
Income Tax	$29.00M	$26.00M	$58.00M	$28.00M	$32.00M
Net Income	$136.00M	$112.00M	$101.00M	$70.00M	$135.00M
Diluted EPS	2.62	2.19	1.97	1.39	2.72
Diluted Shares	51.91M	51.28M	51.17M	50.65M	49.63M

ZBRA Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$879.00M	$872.00M	$1.05B	$125.00M	$114.00M
Receivables	$637.00M	$684.00M	$761.00M	$832.00M	$763.00M
Inventory	$681.00M	$686.00M	$663.00M	$729.00M	$692.00M
Current Assets	$2.29B	$2.33B	$2.58B	$1.80B	$1.70B
Total Assets	$7.90B	$7.94B	$8.07B	$8.50B	$8.33B
Current Liabilities	$1.58B	$1.59B	$1.60B	$1.85B	$1.76B
Long-Term Debt	$2.10B	$2.13B	$2.11B	$2.36B	$2.39B
Total Debt	$2.36B	$2.36B	$2.36B	$2.70B	$2.85B
Total Liabilities	$4.27B	$4.32B	$4.32B	$4.91B	$4.86B
Retained Earnings	$5.00B	$5.11B	$5.21B	$5.28B	$5.41B
Shareholders' Equity	$3.63B	$3.62B	$3.75B	$3.59B	$3.47B
Working Capital	$710.00M	$740.00M	$973.00M	-$56.00M	-$68.00M
Net Debt	$1.29B	$1.30B	$1.12B	$2.38B	$2.54B

ZBRA Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$178.00M	$147.00M	$235.00M	$357.00M	$176.00M
Capital Expenditure	-$20.00M	-$17.00M	-$19.00M	-$30.00M	-$13.00M
Free Cash Flow	$158.00M	$130.00M	$216.00M	$327.00M	$163.00M
Depreciation & Amortisation	$41.00M	$43.00M	$42.00M	$59.00M	$56.00M
Stock-Based Compensation	$51.00M	$32.00M	$47.00M	$33.00M	$58.00M
Investing Cash Flow	-$82.00M	-$17.00M	-$22.00M	-$1.33B	-$2.00M
Financing Cash Flow	-$119.00M	-$138.00M	-$29.00M	$47.00M	-$185.00M
Share Repurchases	-$125.00M	-$125.00M	-$34.00M	-$303.00M	-$300.00M
Net Change in Cash	-$23.00M	-$8.00M	$184.00M	-$930.00M	-$11.00M

Market Snapshot

About

Zebra Technologies Corp. is a global leader in providing enterprise-level data capture and automatic identification solutions. The company designs and manufactures specialty printers, mobile computers, barcode scanners, RFID readers, and real-time location systems used across retail, healthcare, manufacturing, transportation, and logistics industries. Zebra helps organizations improve operational visibility and optimize their workflows through intelligent edge solutions.