Sunday 1 November 2026 Export ZBRA’s income statement to Excel — free account

Zebra Technologies Corporation

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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Market cap: $17.9B
P/E: 32.7×
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 Segments Filings

Zebra Technologies Corporation (ZBRA) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
CF	2,960	54.86%
AVA	2,436	45.14%
Gross margin		48.05%
Operating margin		12.97%
Pre-tax margin		10.38%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Tangible Products	4,418 81.88%	4,016 80.63%	3,665 79.95%	4,915 85.02%	4,845 86.10%	3,813 85.72%	3,907 87.11%	3,685 87.36%	3,223 86.59%	3,056 85.51%	—	—	—	—	—	—	—
Services and Software	978 18.12%	965 19.37%	919 20.05%	866 14.98%	782 13.90%	635 14.28%	578 12.89%	533 12.64%	499 13.41%	518 14.49%	519 14.22%	172 10.29%	54 5.20%	48 4.81%	47 4.80%	45 5.01%	42 5.74%
Hardware	—	—	—	—	—	—	—	—	—	—	2,863 78.44%	1,234 73.85%	740 71.29%	736 73.86%	743 75.58%	677 75.67%	535 72.44%
Supplies	—	—	—	—	—	—	—	—	—	—	268 7.34%	265 15.86%	244 23.51%	212 21.33%	187 19.06%	168 18.74%	156 21.10%
Shipping And Handling	—	—	—	—	—	—	—	—	—	—	—	—	—	—	6 0.56%	5 0.58%	5 0.71%
Revenue	5,396	4,981	4,584	5,781	5,627	4,448	4,485	4,218	3,722	3,574	3,650	1,671	1,038	996	983	894	738

Gross profit by product or service $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Tangible Products	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Services and Software	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
CF	2,960 54.86%	2,714 54.49%	2,280 49.74%	—	—	—	—	—	—
AVA	2,436 45.14%	2,267 45.51%	2,304 50.26%	—	—	—	—	—	—
EVM	—	—	—	3,944 68.22%	3,899 69.29%	3,086 69.38%	3,038 67.74%	2,795 66.26%	—
AIT	—	—	—	1,837 31.78%	1,734 30.82%	1,369 30.78%	1,447 32.26%	1,423 33.74%	1,311 35.22%
Corporate Elimination	—	—	—	—	—	(7) (0.16%)	—	—	—
Enterprise Visibility and Mobility, EVM	—	—	—	—	—	—	—	—	2,414 64.86%
Revenue	5,396	4,981	4,584	5,781	5,627	4,448	4,485	4,218	3,722

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
CF	‡	‡	‡	‡	‡	‡	‡	‡	‡
AVA	‡	‡	‡	‡	‡	‡	‡	‡	‡
EVM	‡	‡	‡	‡	‡	‡	‡	‡	‡
AIT	‡	‡	‡	‡	‡	‡	‡	‡	‡
Enterprise Visibility and Mobility, EVM	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
U.S.	2,643 48.98%	2,431 48.81%	2,277 49.67%	2,840 49.13%	2,784 49.48%	2,291 51.51%	2,243 50.01%	—	—
Other	1,889 35.01%	1,753 35.19%	1,625 35.45%	1,992 34.46%	1,942 34.51%	1,562 35.12%	1,719 38.33%	—	—
Germany	864 16.01%	797 16.00%	682 14.88%	949 16.42%	901 16.01%	595 13.38%	523 11.66%	—	—
Also reported: a second breakdown of the same revenue
North America	2,695 49.94%	2,492 50.03%	2,353 51.33%	2,919 50.49%	2,819 50.10%	2,319 52.14%	2,261 50.41%	2,041 48.39%	1,798 48.31%
EMEA	1,724 31.95%	1,635 32.82%	1,433 31.26%	1,920 33.21%	1,976 35.12%	1,495 33.61%	1,462 32.60%	1,409 33.40%	1,221 32.80%
Asia Pacific	613 11.36%	526 10.56%	513 11.19%	609 10.53%	543 9.65%	439 9.87%	518 11.55%	520 12.33%	468 12.57%
Latin America	364 6.75%	328 6.59%	285 6.22%	333 5.76%	289 5.14%	195 4.38%	244 5.44%	248 5.88%	235 6.31%
Revenue	5,396	4,981	4,584	5,781	5,627	4,448	4,485	4,218	3,722

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.