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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
+22.3%
EPS
+75.2%
Free cash flow
+38.9%
Total debt
+18.3%

Quarter to September 2026, against a year earlier

324.22 2.58 +0.80%
Market cap
$15.2B
P/E
25.9×
Fwd P/E
24.3×
Dividend yield
—
F-score
5/9
Altman Z
3.27
Beneish M
−2.57
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Zebra Technologies Corporation (ZBRA) EV/EBITDA

Alert me on EV/EBITDA

As of 5 November 2026, Zebra Technologies Corporation (ZBRA) trades at a EV/EBITDA of 14.9×. Over the past ten years it has ranged from 11.4× (March 2020) to 43.2× (February 2015); the current reading is higher than 25% of that period. That is above the Communication Equipment industry median of 14.0× and in line with the Technology sector median of 14.5×.

EV/EBITDA, daily

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Annual newest first

Period EV/EBITDA Change
FY2025 15.8× (31.64%)
FY2024 23.1× (4.05%)
FY2023 24.1× 14.08%
FY2022 21.1× (24.05%)
FY2021 27.8× 3.06%
FY2020 27.0× 56.85%
FY2019 17.2× 36.71%
FY2018 12.6× 2.43%
FY2017 12.3× (16.92%)
FY2016 14.8× (13.37%)

Quarterly newest first

Period EV/EBITDA Change
Sep 2026 16.9× 24.38%
Jun 2026 13.6× 2.52%
Mar 2026 13.2× (16.28%)
Dec 2025 15.8× (6.90%)
43 more quarters

Against its own ten years

Low 11.4× High 43.2×
Ten-year median 17.2×
Current reading's percentile 25

EV/EBITDA against peers

Company EV/EBITDA
AAOI Applied Optoelectronics, Inc. compare n/m
ASTS AST SpaceMobile, Inc. compare n/m
ERIC Ericsson compare 8.8×
VSAT Viasat Inc. compare 9.0×
ZBRA Zebra Technologies Corporation 14.9×
NOK Nokia Corporation compare 19.6×
UI Ubiquiti Inc. compare 25.7×
CIEN Ciena Corporation compare 37.0×
VIAV Viavi Solutions Inc. compare 40.2×
Communication Equipment industry median 14.0×
Technology sector median 14.5×
Market median 10.9×

What EV/EBITDA is

Enterprise Value over EBITDA tells an investor how the market values a whole company, with debt added and cash taken off, against its operating earnings.

((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ EBITDA (TTM)

The full definition of EV/EBITDA →

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