Monday 12 October 2026 Export all ZBRA data to Excel Powerpack

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. In the quarter to June 2026, revenue grew 20.4%, EPS grew 122.3%, free cash flow grew 52.3% and total debt rose 27.4%, each against the same quarter a year earlier. Member of the S&P 500; insiders bought in the last twelve months.

387.84 0.66 +0.17%

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Market cap: $18.3B
P/E: 35.2×
Fwd P/E: 18.8×
Dividend yield: —
F-score: 5/9
Altman Z: 3.27
Beneish M: −2.57
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Impairment Dec 15, 2025

All filings →

Insider Decisions trades per month

Total buys 0.27

Total sells 2.41

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	1	—	—	—	1	—	—	—	—	—	—	—
Sell	—	—	—	—	2	—	2	—	—	2	—	—

Insider Ownership 1.82%

Capital & Financial Ratios $m

Market Cap 18,320.00

Revenue 5,847.00

Net Income 539.00

Free Cash Flow 904.00

Net Debt 2,611.00

Current Ratio 0.52

Debt/Equity 0.81

P/E ratio 35.24

Fwd P/E 18.80

P/S ratio 3.17

P/B ratio 5.39

Past 5Y EPS Growth (2.64%)

This Y EPS Growth 33.48%

Next Y EPS Growth 5.39%

Next Y revenue growth 15.38%

Next 5Y EPS Growth 15.15%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 61.77%

10-year low 10-year high

P/S against its own 10 years 72.93%

10-year low 10-year high

P/B against its own 10 years 39.51%

10-year low 10-year high

EV/Sales against its own 10 years 75.33%

10-year low 10-year high

EV/FCF against its own 10 years 50.25%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	137	901	125	157
Receivables	584	712	832	1,046
Inventory	804	693	729	733
Other	—	—	—	—
	1,672	2,440	1,796	2,062

	2023	2024	2025	Q'26
Payables	456	633	695	738
ST’ Debt	173	79	141	2,275
Other	—	—	—	—
	1,598	1,704	1,852	3,998

Compound Annual Growth %

	10y	5y	3y
Sales	3.99%	3.94%	(2.27%)
Cash Flow	22.35%	(0.95%)	23.40%
Earnings	0.00%	(3.63%)	(3.27%)
Book Value	14.92%	10.85%	9.50%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,495	1,557	—	—	—
’25	1,308	1,293	1,320	1,475	5,396
’24	1,175	1,217	1,255	1,334	4,981
’23	1,405	1,214	956	1,009	4,584
’22	1,432	1,468	1,378	1,503	5,781
’21	1,347	1,377	1,436	1,467	5,627
’20	1,052	956	1,132	1,308	4,448

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	176	211	—	—	—
’25	178	147	235	357	917
’24	125	288	294	306	1,013
’23	(76)	(34)	(35)	141	(4)
’22	54	100	67	267	488
’21	224	315	297	233	1,069
’20	108	247	176	431	962

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	163	198	—	—	—
’25	158	130	216	327	831
’24	111	278	277	288	954
’23	(92)	(52)	(49)	102	(91)
’22	40	83	47	243	413
’21	214	300	284	212	1,010
’20	95	227	160	413	895

Fiscal quarters ending in the months shown.

EPS $

	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	(1.88)	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

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	46.13	81.02	102.75	146.52	150.06	372.46	224.87	194.59	233.95	205.73	Analyst estimates 2026–2028 Powerpack
	High	88.00	117.44	184.75	260.30	388.92	615.00	599.73	351.74	413.44	427.76
People
People	Employees	6,500	7,000	7,400	8,200	8,800	9,800	10,500	9,750	9,900	10,700
	Revenue/emp, $m	0.55	0.53	0.57	0.55	0.51	0.57	0.55	0.47	0.50	0.50
Income, $m
Income, $m	Revenue	3,574	3,722	4,218	4,485	4,448	5,627	5,781	4,584	4,981	5,396
	Gross margin, %	45.94	45.94	46.97	46.82	45.03	46.70	45.39	46.31	48.44	48.05
	EBT	(129)	88	524	598	560	968	544	334	635	560
	EBT margin, %	(3.61)	2.36	12.42	13.33	12.59	17.20	9.41	7.29	12.75	10.38
	Net income	(137)	17	421	544	504	837	463	296	528	419
	Depreciation	389	301	190	181	149	187	204	176	172	230
Per share, $
Per share, $	Revenue	69.29	70.20	78.71	83.07	83.23	105.28	110.73	89.22	96.73	106.18
	Earnings	(2.65)	0.33	7.86	10.08	9.43	15.66	8.86	5.75	10.25	8.24
	Cash flow	7.37	9.02	14.65	12.69	18.00	20.00	9.35	(0.08)	19.67	18.04
	Capex	(1.49)	(0.94)	(1.19)	(1.13)	(1.25)	(1.10)	(1.44)	(1.69)	(1.15)	(1.69)
	Free cash flow	5.87	8.07	13.45	11.56	16.75	18.90	7.91	(1.77)	18.53	16.35
	Book value	15.36	15.73	24.91	34.06	40.12	55.83	52.35	59.09	69.64	70.60
	Shares, m	52	53	54	54	53	53	52	51	51	51
Valuation, ×
Valuation, ×	P/E	0.00	314.27	20.26	25.39	40.71	38.01	29.40	46.52	37.68	29.54
	P/S	1.24	1.48	2.02	3.08	4.62	5.65	2.35	3.00	3.99	2.29
	P/B	5.62	6.59	6.39	7.50	9.58	10.66	4.97	4.54	5.55	3.44
	EV/Sales	1.94	2.06	2.39	3.35	4.86	5.77	2.68	3.46	4.25	2.73
	EV/FCF	22.92	17.91	13.98	24.10	24.15	32.15	37.54	(174.19)	22.18	17.71
Cash, $m
Cash, $m	Operating cash flow	380	478	785	685	962	1,069	488	(4)	1,013	917
	Capex	(77)	(50)	(64)	(61)	(67)	(59)	(75)	(87)	(59)	(86)
	Free cash flow	303	428	721	624	895	1,010	413	(91)	954	831
Balance, $m
Balance, $m	Working capital	273	63	(139)	(209)	(578)	(111)	(449)	74	736	(56)
	Total debt	2,648	2,227	1,591	1,277	1,245	991	2,023	2,220	2,171	2,502
	Net debt	2,492	2,165	1,547	1,247	1,077	659	1,918	2,083	1,270	2,377
	Shareholders’ equity	792	834	1,335	1,839	2,144	2,984	2,733	3,036	3,586	3,588
Returns, %
Returns, %	ROA	(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
	ROE	(16.26)	2.09	38.82	34.28	25.31	32.64	16.20	10.26	15.95	11.68

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
CIEN Ciena Corporation	$60.4B	97.4×	94.0×	+37.05% (above 0%: growing)	+437.14% (above 0%: growing)	−13.59% (below 0%: shrinking)	45.43%	18.02%	Compare
NOK Nokia Corporation	$56.8B	5.6×	—	+8.48% (above 0%: growing)	n/m	−624.57% (below 0%: shrinking)	44.57%	(1.04%)	Compare
UI Ubiquiti Inc.	$38.9B	41.4×	30.7×	+23.47% (above 0%: growing)	+6.80% (above 0%: growing)	+134.17% (above 0%: growing)	45.80%	36.27%	Compare
ERIC Ericsson	$28.9B	12.3×	—	−3.14% (below 0%: shrinking)	−7.14% (below 0%: shrinking)	−89.23% (below 0%: shrinking)	45.78%	11.24%	Compare
ASTS AST SpaceMobile, Inc.	$22.2B	— (loss-making)	— (loss-making)	+2,626.64% (above 0%: growing)	n/m	−103.37% (below 0%: shrinking)	25.23%	(944.09%)	Compare
ZBRA Zebra Technologies Corporation	$18.1B	35.2×	18.8×	+20.42% (above 0%: growing)	+122.27% (above 0%: growing)	+52.31% (above 0%: growing)	52.99%	20.62%
VIAV Viavi Solutions Inc.	$10.8B	— (loss-making)	59.1×	+52.53% (above 0%: growing)	+250.00% (above 0%: growing)	+6,100.00% (above 0%: growing)	59.06%	13.83%	Compare
VSAT Viasat Inc.	$9.3B	— (loss-making)	— (loss-making)	−1.24% (below 0%: shrinking)	n/m	−31.14% (below 0%: shrinking)	35.70%	4.09%	Compare
AAOI Applied Optoelectronics, Inc.	$9.0B	— (loss-making)	202×	+86.42% (above 0%: growing)	n/m	−191.62% (below 0%: shrinking)	27.72%	(12.88%)	Compare
Median of peers	$25.5B	26.8×	76.6×	+30.26%	+128.40%	−60.18%	45.00%	7.67%

All 47 Communication Equipment stocks →

Zebra Technologies Corporation (ZBRA) key facts

Strength: Zebra Technologies Corporation’s revenue for fiscal 2025 (year ended December 2025) was $5.4 billion, up 8.33% from fiscal 2024.
Zebra Technologies Corporation (ZBRA) is a Communication Equipment company in the Technology sector, listed on Nasdaq.
As of October 12, 2026, ZBRA traded at $388.24, a market capitalization of $18.3 billion.
Return on equity was 11.7% and debt-to-equity 0.81.
Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 3.27 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.