Zebra Technologies Corporation (ZBRA)

NASDAQ: ZBRA · Real-Time Price · USD

386.75

-1.37 (-0.35%)

Oct 13, 2026, 4:00 PM EDT - Market closed

Zebra Technologies Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 4, 2026	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
Revenue	5,847	5,396	4,981	4,584	5,781	5,627
Revenue Growth	12.66%	8.33%	8.66%	-20.71%	2.74%	26.51%
Gross Profit	2,899	2,593	2,413	2,123	2,624	2,628
Operating Income	970	800	765	585	936	1,011
Net Income	539	419	528	296	463	837
Earnings Per Share	10.81	8.18	10.18	5.72	8.80	15.52
EPS Growth	2.08%	-19.65%	77.97%	-35.00%	-43.30%	65.99%

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jul '26 Jul 4, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Connected Frontline (CF)	-	2,960	2,714	2,280
Asset Visibility and Automation (AVA)	-	2,436	2,267	2,304
Revenue (Total)	5,847	5,396	4,981	4,584

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 4, 2026	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
Cash & Investments	157	125	901	171	130	332
Total Debt	2,962	2,697	2,362	2,430	2,199	1,161
Net Cash (Debt)	-2,805	-2,572	-1,461	-2,259	-2,069	-829
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-56.29	-50.22	-28.16	-43.69	-39.37	-15.38

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 4, 2026	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
Operating Cash Flow	979	917	1,013	-4	488	1,069
Capital Expenditures	-75	-86	-59	-87	-75	-59
Free Cash Flow	904	831	954	-91	413	1,010
Free Cash Flow Growth	5.98%	-12.89%	-	-	-59.11%	12.85%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jul '26 Jul 4, 2026	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
Gross Margin	49.58%	48.05%	48.44%	46.31%	45.39%	46.70%
Operating Margin	16.59%	14.83%	15.36%	12.76%	16.19%	17.97%
Pretax Margin	12.13%	10.38%	12.75%	7.29%	9.41%	17.20%
Profit Margin	9.22%	7.76%	10.60%	6.46%	8.01%	14.88%
FCF Margin	15.46%	15.40%	19.15%	-1.98%	7.14%	17.95%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct '26 Oct 13, 2026	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
PE Ratio	35.90	29.36	37.73	47.43	28.59	38.00
Forward PE	18.50	14.13	24.89	29.45	14.45	31.83
P/FCF Ratio	20.18	14.80	20.88	-	32.05	31.49
PS Ratio	3.12	2.28	4.00	3.06	2.29	5.65