Zebra Technologies Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	419	528	296	463	837
Depreciation & Amortization	185	172	176	204	187
Asset Writedown & Restructuring Costs	45	-	-	-	-
Loss (Gain) From Sale of Investments	-	-31	-9	-83	-30
Stock-Based Compensation	163	89	55	88	76
Other Operating Activities	35	-80	-33	-205	-68
Change in Accounts Receivable	-39	-181	249	-5	-239
Change in Inventory	54	105	50	-341	18
Change in Accounts Payable	1	176	-365	92	96
Change in Unearned Revenue	75	-13	12	60	113
Change in Income Taxes	-1	68	-168	108	1
Change in Other Net Operating Assets	-20	180	-267	107	78
Operating Cash Flow	917	1,013	-4	488	1,069
Operating Cash Flow Growth	-9.48%	-	-	-54.35%	11.12%
Capital Expenditures	-86	-59	-87	-75	-59
Cash Acquisitions	-1,365	-	-	-881	-452
Investment in Securities	-4	2	-5	-12	-35
Investing Cash Flow	-1,455	-57	-92	-968	-546
Long-Term Debt Issued	347	651	440	1,284	46
Long-Term Debt Repaid	-19	-694	-245	-247	-303
Net Debt Issued (Repaid)	328	-43	195	1,037	-257
Repurchase of Common Stock	-587	-47	-52	-751	-57
Other Financing Activities	20	-100	-26	-33	-57
Financing Cash Flow	-239	-190	117	253	-371
Foreign Exchange Rate Adjustments	1	-3	-	-	-
Net Cash Flow	-776	763	21	-227	152
Free Cash Flow	831	954	-91	413	1,010
Free Cash Flow Growth	-12.89%	-	-	-59.11%	12.85%
Free Cash Flow Margin	15.40%	19.15%	-1.98%	7.14%	17.95%
Free Cash Flow Per Share	16.23	18.39	-1.76	7.86	18.74
Cash Interest Paid	129	55	111	58	32
Cash Income Tax Paid	134	124	252	168	199
Levered Free Cash Flow	696.5	807.88	-8.5	812	840.75
Unlevered Free Cash Flow	764	869.13	74.63	812	843.88
Change in Working Capital	70	335	-489	21	67

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.