| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 1 | — | — | — | 1 | — | — | — | — | — | — |
| Sell | — | — | — | — | — | 2 | — | 2 | — | — | 2 | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡ |
|
| 2027 | ‡‡‡‡ |
|
| 2026 | ‡‡‡‡ |
|
| 2025 | ‡‡‡‡ |
|
| 2024 | ‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 137.00 | 901.00 | 125.00 | 157.00 |
| Receivables | 584.00 | 712.00 | 832.00 | 1,046.00 |
| Inventory | 804.00 | 693.00 | 729.00 | 733.00 |
| Other | — | — | — | — |
| 1,672.00 | 2,440.00 | 1,796.00 | 2,062.00 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 456.00 | 633.00 | 695.00 | 738.00 |
| ST’ Debt | 173.00 | 79.00 | 141.00 | 2,275.00 |
| Other | — | — | — | — |
| 1,598.00 | 1,704.00 | 1,852.00 | 3,998.00 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 1,495.00 | 1,557.00 | — | — |
—
|
| ’25 | 1,308.00 | 1,293.00 | 1,320.00 | 1,475.00 |
5,396.00
|
| ’24 | 1,175.00 | 1,217.00 | 1,255.00 | 1,334.00 |
4,981.00
|
| ’23 | 1,405.00 | 1,214.00 | 956.00 | 1,009.00 |
4,584.00
|
| ’22 | 1,432.00 | 1,468.00 | 1,378.00 | 1,503.00 |
5,781.00
|
| ’21 | 1,347.00 | 1,377.00 | 1,436.00 | 1,467.00 |
5,627.00
|
| ’20 | 1,052.00 | 956.00 | 1,132.00 | 1,308.00 |
4,448.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 176.00 | 211.00 | — | — |
—
|
| ’25 | 178.00 | 147.00 | 235.00 | 357.00 |
917.00
|
| ’24 | 125.00 | 288.00 | 294.00 | 306.00 |
1,013.00
|
| ’23 | (76.00) | (34.00) | (35.00) | 141.00 |
(4.00)
|
| ’22 | 54.00 | 100.00 | 67.00 | 267.00 |
488.00
|
| ’21 | 224.00 | 315.00 | 297.00 | 233.00 |
1,069.00
|
| ’20 | 108.00 | 247.00 | 176.00 | 431.00 |
962.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 163.00 | 198.00 | — | — |
—
|
| ’25 | 158.00 | 130.00 | 216.00 | 327.00 |
831.00
|
| ’24 | 111.00 | 278.00 | 277.00 | 288.00 |
954.00
|
| ’23 | (92.00) | (52.00) | (49.00) | 102.00 |
(91.00)
|
| ’22 | 40.00 | 83.00 | 47.00 | 243.00 |
413.00
|
| ’21 | 214.00 | 300.00 | 284.00 | 212.00 |
1,010.00
|
| ’20 | 95.00 | 227.00 | 160.00 | 413.00 |
895.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 2.72 | 4.85 | — | — |
—
|
| ’25 | 2.62 | 2.19 | 1.97 | 1.39 |
8.18
|
| ’24 | 2.23 | 2.17 | 2.64 | 3.14 |
10.18
|
| ’23 | 2.90 | 2.78 | (0.28) | 0.31 |
5.72
|
| ’22 | 3.83 | 1.87 | 3.26 | 3.57 |
8.80
|
| ’21 | 4.22 | 4.07 | 3.69 | 3.55 |
15.52
|
| ’20 | 1.65 | 1.85 | 2.16 | 3.70 |
9.35
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 224.87 | 194.59 | 233.95 | 205.73 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 599.73 | 351.74 | 413.44 | 427.76 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10,500 | 9,750 | 9,900 | 10,700 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.55 | 0.47 | 0.50 | 0.50 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5,781.00 | 4,584.00 | 4,981.00 | 5,396.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 45.39% | 46.31% | 48.44% | 48.05% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 544.00 | 334.00 | 635.00 | 560.00 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.41% | 7.29% | 12.75% | 10.38% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 463.00 | 296.00 | 528.00 | 419.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 204.00 | 176.00 | 172.00 | 230.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 110.73 | 89.22 | 96.73 | 106.18 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 8.86 | 5.75 | 10.25 | 8.24 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.35 | (0.08) | 19.67 | 18.04 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.44) | (1.69) | (1.15) | (1.69) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.91 | (1.77) | 18.53 | 16.35 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 52.35 | 59.09 | 69.64 | 70.60 | ‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 52.21 | 51.38 | 51.50 | 50.82 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.65 | 46.52 | 37.68 | 29.54 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.35 | 3.00 | 3.99 | 2.29 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.97 | 4.54 | 5.55 | 3.44 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.68 | 3.46 | 4.25 | 2.73 | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 37.54 | (174.19) | 22.18 | 17.71 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 488.00 | (4.00) | 1,013.00 | 917.00 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (75.00) | (87.00) | (59.00) | (86.00) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 413.00 | (91.00) | 954.00 | 831.00 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (449.00) | 74.00 | 736.00 | (56.00) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,023.00 | 2,220.00 | 2,171.00 | 2,502.00 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,918.00 | 2,083.00 | 1,270.00 | 2,377.00 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,733.00 | 3,036.00 | 3,586.00 | 3,588.00 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.74% | 3.99% | 6.91% | 5.09% | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.11% | 5.87% | 9.55% | 7.33% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.20% | 10.26% | 15.95% | 11.68% | ‡‡‡‡‡ | — | — |
ROE
|
Zebra Technologies Corporation is a pivotal player in enterprise asset intelligence, driving digital transformation in supply chains, retail, healthcare, and logistics via RFID, barcode scanning, and mobile computing solutions. Amid IoT and automation trends, the company delivered robust revenue growth from $3.57 billion in 2016 to a $5.78 billion peak in 2022 (8.5% CAGR), fueled by acquisitions and pandemic demand. A 2023 dip to $4.58 billion from inventory destocking gave way to a sharp 2024 rebound at $4.98 billion (+9% YoY), with gross margins expanding to 48.4% on premium products and efficiencies—setting the stage for projected revenues climbing to $6.67 billion by 2028.
Profitability metrics underscore resilience: 2024 net income surged 78% YoY to $528 million, FCF per share flipped to $18.53, and ROIC hit 9.6%, supported by a fortress balance sheet with net debt halved and equity up 353% since 2016. Trading at a discounted 24.3x forward 2025 PE and 4.0x PS—well below historical peaks—Zebra’s shares sit 35% below analyst targets, with EPS forecasted to reach $16.04 by 2028 amid AI integrations and recurring software revenue scaling to 20%+.
Poised for 10%+ CAGR through multi-year compounding, Zebra benefits from warehouse automation, healthcare digitization, and nearshoring tailwinds, with risks buffered by diversification and low leverage. This undervalued growth story in the $100B+ asset tracking market promises 25-50% upside, rewarding investors betting on innovation over cycles.
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