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Sunday 1 November 2026
Export ZBRA’s income statement to Excel — free account
Zebra Technologies Corporation
ZBRA Technology Communication Equipment
Zebra Technologies Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.4 billion, up 8.33% from fiscal 2024.
- Revenue
- +20.4%
- EPS
- +122.3%
- Free cash flow
- +52.3%
- Total debt
- +27.4%
Quarter to June 2026, against a year earlier
361.26
16.12
−4.27%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 314.27 | 20.26 | 25.39 | 40.71 | 38.01 | 29.40 | 46.52 | 37.68 | 29.54 |
Piotroski F-Score |
6 | 7 | 7 | 6 | 5 | 8 | 4 | 4 | 8 | 5 |
P/S ratio |
1.24 | 1.48 | 2.02 | 3.08 | 4.62 | 5.65 | 2.35 | 3.00 | 3.99 | 2.29 |
Altman Z-Score |
1.97 | 2.51 | 3.65 | 4.93 | 5.62 | 8.12 | 3.35 | 3.66 | 4.62 | 3.27 |
P/FCF ratio |
14.68 | 12.85 | 11.84 | 22.10 | 22.95 | 31.50 | 32.89 | 0.00 | 20.85 | 14.85 |
Altman Z″-Score (non-manufacturers) |
1.59 | 1.81 | 2.47 | 2.91 | 2.46 | 3.79 | 2.43 | 3.19 | 4.08 | 3.30 |
Beneish M-Score |
(3.05) | (3.13) | (2.76) | (2.38) | (2.98) | (2.28) | (2.52) | (2.52) | (2.62) | (2.57) |
P/Operating CF |
34.76 | 20.52 | 26.26 | 52.04 | 47.65 | 136.53 | 50.88 | 97.65 | 64.99 | 34.57 |
P/B ratio |
5.62 | 6.59 | 6.39 | 7.50 | 9.58 | 10.66 | 4.97 | 4.54 | 5.55 | 3.44 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
1.94 | 2.06 | 2.39 | 3.35 | 4.86 | 5.77 | 2.68 | 3.46 | 4.25 | 2.73 |
EV/EBITDA |
14.81 | 12.30 | 12.60 | 17.23 | 27.02 | 27.85 | 21.15 | 24.13 | 23.15 | 15.83 |
EV/Operating CF |
18.28 | 16.03 | 12.84 | 21.95 | 22.47 | 30.37 | 31.77 | (3,962.82) | 20.89 | 16.05 |
EV/FCF |
22.92 | 17.91 | 13.98 | 24.10 | 24.15 | 32.15 | 37.54 | (174.19) | 22.18 | 17.71 |
Quick Ratio |
0.86 | 0.58 | 0.45 | 0.48 | 0.37 | 0.61 | 0.39 | 0.45 | 0.95 | 0.52 |
Current Ratio |
1.29 | 1.06 | 0.89 | 0.85 | 0.69 | 0.94 | 0.81 | 1.05 | 1.43 | 0.97 |
Net Debt/EBITDA |
5.31 | 3.48 | 1.93 | 1.43 | 1.35 | 0.57 | 2.62 | 3.17 | 1.39 | 2.56 |
Debt/Assets |
57.17% | 52.09% | 36.67% | 27.11% | 23.16% | 15.95% | 26.87% | 30.39% | 27.25% | 29.43% |
Debt/Equity |
3.34 | 2.67 | 1.19 | 0.69 | 0.58 | 0.33 | 0.74 | 0.73 | 0.61 | 0.70 |
Asset Turnover |
0.74 | 0.84 | 0.98 | 0.99 | 0.88 | 0.97 | 0.84 | 0.62 | 0.65 | 0.66 |
Operating CF/Net income |
(2.77) | 28.12 | 1.86 | 1.26 | 1.91 | 1.28 | 1.05 | (0.01) | 1.92 | 2.19 |
Capex/Depreciation |
(0.20) | (0.17) | (0.34) | (0.34) | (0.45) | (0.32) | (0.37) | (0.49) | (0.34) | (0.37) |
Interest Coverage |
0.41 | 1.42 | 6.70 | 7.78 | 8.57 | 195.80 | (23.00) | 3.62 | 7.57 | 6.48 |
| (16.26%) | 2.09% | 38.82% | 34.28% | 25.31% | 32.64% | 16.20% | 10.26% | 15.95% | 11.68% | |
| (2.83%) | 0.38% | 9.77% | 12.02% | 9.99% | 14.44% | 6.74% | 3.99% | 6.91% | 5.09% | |
ROIC |
1.52% | 6.71% | 13.23% | 14.01% | 12.63% | 16.80% | 7.11% | 5.87% | 9.55% | 7.33% |
Return on Tangible Assets |
(24.25%) | 5.20% | 382.73% | 1,088.00% | (165.79%) | 519.88% | (270.76%) | 77.28% | 50.72% | 141.08% |
Average Days of Receivables |
67.10 | 50.90 | 47.07 | 52.49 | 43.00 | 49.30 | 50.13 | 46.50 | 52.17 | 56.28 |
Research and Development Expense of Revenue |
10.52% | 10.45% | 10.53% | 9.97% | 10.18% | 10.08% | 9.86% | 11.32% | 11.30% | 10.99% |
Selling, General and Administrative Expense of Revenue |
21.01% | 20.12% | 19.23% | 18.42% | 17.69% | 16.62% | 16.99% | 19.96% | 19.69% | 20.13% |
Intangible Assets out of Total Assets |
0.63 | 0.65 | 0.63 | 0.61 | 0.63 | 0.60 | 0.60 | 0.61 | 0.54 | 0.65 |
Share Based Compensation of Revenue |
0.76% | 0.94% | 1.07% | 1.07% | 1.15% | 1.35% | 1.52% | 1.20% | 1.79% | 3.02% |
Graham Net Nets |
(0.59) | (0.43) | (0.22) | (0.12) | (0.10) | (0.05) | (0.21) | (0.19) | (0.10) | (0.25) |
Graham Number |
0.00 | 10.81 | 66.37 | 87.81 | 92.31 | 140.26 | 102.10 | 87.51 | 126.73 | 114.27 |
Earnings Yield |
(3.22%) | 0.32% | 4.94% | 3.94% | 2.46% | 2.63% | 3.40% | 2.15% | 2.65% | 3.39% |
Free Cash Flow Yield |
6.81% | 7.78% | 8.45% | 4.52% | 4.36% | 3.17% | 3.04% | (0.66%) | 4.80% | 6.73% |
Revenue per Share |
69.29 | 70.20 | 78.71 | 83.07 | 83.23 | 105.28 | 110.73 | 89.22 | 96.73 | 106.18 |
Operating CF per Share |
7.37 | 9.02 | 14.65 | 12.69 | 18.00 | 20.00 | 9.35 | (0.08) | 19.67 | 18.04 |
Capex per Share |
(1.49) | (0.94) | (1.19) | (1.13) | (1.25) | (1.10) | (1.44) | (1.69) | (1.15) | (1.69) |
Free Cash Flow per Share |
5.87 | 8.07 | 13.45 | 11.56 | 16.75 | 18.90 | 7.91 | (1.77) | 18.53 | 16.35 |
Cash per Share |
3.02 | 1.17 | 0.82 | 0.56 | 3.14 | 6.21 | 2.01 | 2.67 | 17.50 | 2.46 |
Shareholders Equity per Share |
15.36 | 15.73 | 24.91 | 34.06 | 40.12 | 55.83 | 52.35 | 59.09 | 69.64 | 70.60 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
15.36 | 15.73 | 24.91 | 34.06 | 40.12 | 55.83 | 52.35 | 59.09 | 69.64 | 70.60 |
Free Cash Flow |
303.00 | 428.00 | 721.00 | 624.00 | 895.00 | 1,010.00 | 413.00 | (91.00) | 954.00 | 831.00 |
Working Capital |
273.00 | 63.00 | (139.00) | (209.00) | (578.00) | (111.00) | (449.00) | 74.00 | 736.00 | (56.00) |
Capital Expenditures |
(77.00) | (50.00) | (64.00) | (61.00) | (67.00) | (59.00) | (75.00) | (87.00) | (59.00) | (86.00) |
Net Current Asset Value |
(2,618.00) | (2,378.00) | (1,842.00) | (1,677.00) | (1,958.00) | (1,542.00) | (2,913.00) | (2,598.00) | (1,942.00) | (3,118.00) |
EV/EBIT |
86.81 | 23.80 | 16.53 | 21.73 | 33.20 | 33.17 | 29.31 | 32.95 | 28.52 | 21.02 |
Capex to Sales |
0.02 | 0.01 | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.02 | 0.01 | 0.02 |
Price to Operating Income |
55.61 | 17.08 | 13.99 | 19.93 | 31.55 | 32.49 | 25.68 | 28.62 | 26.80 | 17.63 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
1.33 | 1.14 | 0.76 | 0.70 | 0.54 | 0.69 | 0.73 | 0.57 | 0.56 | 0.65 |
Cash ROIC |
8.43% | 13.70% | 24.28% | 19.83% | 25.16% | 23.45% | 8.50% | (1.69%) | 14.33% | 13.37% |
Accounts Receivable Turnover |
5.37 | 6.33 | 7.94 | 7.54 | 7.61 | 8.76 | 7.44 | 6.65 | 7.69 | 6.99 |
Accounts Payable Turnover |
5.50 | 4.81 | 4.58 | 4.32 | 4.24 | 4.61 | 4.18 | 3.88 | 4.72 | 4.22 |
Inventory Turnover |
5.21 | 5.01 | 4.57 | 4.80 | 4.96 | 5.99 | 4.67 | 2.96 | 3.43 | 3.94 |
Average Days of Payables |
78.03 | 76.92 | 90.07 | 84.48 | 89.72 | 85.20 | 93.76 | 67.63 | 89.97 | 90.50 |
Days of Inventory on Hand |
65.18 | 83.09 | 84.85 | 72.54 | 76.28 | 59.76 | 99.43 | 119.24 | 98.50 | 94.93 |
Average Receivables |
666.00 | 588.00 | 531.50 | 594.50 | 584.50 | 642.00 | 777.00 | 689.00 | 648.00 | 772.00 |
Average Payables |
351.00 | 418.50 | 488.00 | 552.00 | 576.50 | 650.50 | 755.50 | 633.50 | 544.50 | 664.00 |
Average Inventory |
371.00 | 401.50 | 489.00 | 497.00 | 492.50 | 501.00 | 675.50 | 832.00 | 748.50 | 711.00 |
Average Assets |
4,836.00 | 4,453.50 | 4,307.00 | 4,525.00 | 5,043.00 | 5,795.00 | 6,872.00 | 7,417.50 | 7,637.00 | 8,235.00 |
Average Common Equity |
842.50 | 813.00 | 1,084.50 | 1,587.00 | 1,991.50 | 2,564.00 | 2,858.50 | 2,884.50 | 3,311.00 | 3,587.00 |
Columns are period end dates