ZBRA · Zebra Technologies Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.50B | - | $1.32B | $1.29B | $1.31B | - | $1.25B | $1.22B | $1.18B | - |
| Cost of Revenue | $753.00M | - | $686.00M | $677.00M | $663.00M | - | $642.00M | $628.00M | $612.00M | - |
| Gross Profit | $742.00M | - | $634.00M | $616.00M | $645.00M | - | $613.00M | $589.00M | $563.00M | - |
| R&D | $165.00M | - | $146.00M | $144.00M | $151.00M | - | $141.00M | $146.00M | $138.00M | - |
| SG&A | $127.00M | - | $111.00M | $102.00M | $111.00M | - | $96.00M | $97.00M | $81.00M | - |
| Total Operating Expenses | $527.00M | - | $451.00M | $433.00M | $450.00M | - | $422.00M | $422.00M | $404.00M | - |
| D&A | $56.00M | - | - | - | $41.00M | - | - | - | $43.00M | - |
| Operating Income | $215.00M | - | $183.00M | $183.00M | $195.00M | - | $191.00M | $167.00M | $159.00M | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $32.00M | - | $58.00M | $26.00M | $29.00M | - | $12.00M | $23.00M | $27.00M | - |
| Net Income | $135.00M | - | $101.00M | $112.00M | $136.00M | - | $137.00M | $113.00M | $115.00M | - |
| EPS - Basic | $2.74 | - | $1.98 | $2.20 | $2.64 | - | $2.65 | $2.19 | $2.24 | - |
| EPS - Diluted | $2.72 | - | $1.97 | $2.19 | $2.62 | - | $2.64 | $2.17 | $2.23 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $114.00M | $125.00M | $1.05B | $872.00M | $879.00M | $901.00M | $676.00M | $411.00M | $127.00M | $137.00M |
| Accounts Receivable | $733.00M | $801.00M | $655.00M | $634.00M | $617.00M | $692.00M | $642.00M | $701.00M | $599.00M | $521.00M |
| Inventory | $692.00M | $729.00M | $663.00M | $686.00M | $681.00M | $693.00M | $639.00M | $678.00M | $705.00M | $804.00M |
| Accounts Payable | $581.00M | $695.00M | $533.00M | $569.00M | $559.00M | $633.00M | $533.00M | $551.00M | $467.00M | $456.00M |
| Current Assets | $1.70B | $1.80B | $2.58B | $2.33B | $2.29B | $2.44B | $2.13B | $1.95B | $1.63B | $1.67B |
| Total Assets | $8.33B | $8.50B | $8.07B | $7.94B | $7.90B | $7.97B | $7.69B | $7.49B | $7.26B | $7.31B |
| Current Liabilities | $1.76B | $1.85B | $1.60B | $1.59B | $1.58B | $1.70B | $1.56B | $1.52B | $1.64B | $1.60B |
| Long-term Debt | $2.39B | $2.36B | $2.11B | $2.13B | $2.10B | $2.09B | $2.08B | $2.08B | $1.81B | $2.05B |
| Total Liabilities | $4.86B | $4.91B | $4.32B | $4.32B | $4.27B | $4.38B | $4.27B | $4.20B | $4.09B | $4.27B |
| Stockholders' Equity | $3.47B | $3.59B | $3.75B | $3.62B | $3.63B | $3.59B | $3.42B | $3.29B | $3.17B | $3.04B |
| Retained Earnings | $5.41B | $5.28B | $5.21B | $5.11B | $5.00B | $4.86B | $4.70B | $4.56B | $4.45B | $4.33B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $176.00M | - | - | - | $178.00M | - | - | - | $125.00M | - |
| Investing Cash Flow | ($2.00M) | - | - | - | ($82.00M) | - | - | - | ($11.00M) | - |
| Financing Cash Flow | ($185.00M) | - | - | - | ($119.00M) | - | - | - | ($124.00M) | - |
| CapEx | $13.00M | - | - | - | $20.00M | - | - | - | $14.00M | - |
| Free Cash Flow | $163.00M | - | - | - | $158.00M | - | - | - | $111.00M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 49.6% | - | 48.0% | 47.6% | 49.3% | - | 48.8% | 48.4% | 47.9% | - |
| Operating margin | 14.4% | - | 13.9% | 14.2% | 14.9% | - | 15.2% | 13.7% | 13.5% | - |
| EBITDA margin | 18.1% | - | - | - | 18.0% | - | - | - | 17.2% | - |
| Net margin | 9.0% | - | 7.7% | 8.7% | 10.4% | - | 10.9% | 9.3% | 9.8% | - |
| Free cash flow margin | 10.9% | - | - | - | 12.1% | - | - | - | 9.4% | - |
| FCF / Net income | 1.21 | - | - | - | 1.16 | - | - | - | 0.97 | - |
| R&D / Revenue | 11.0% | - | 11.1% | 11.1% | 11.5% | - | 11.2% | 12.0% | 11.7% | - |
| SG&A / Revenue | 8.5% | - | 8.4% | 7.9% | 8.5% | - | 7.6% | 8.0% | 6.9% | - |
| Effective tax rate | 19.2% | - | 36.5% | 18.8% | 17.6% | - | 8.1% | 16.9% | 19.0% | - |
| Return on assets | 1.6% | - | 1.3% | 1.4% | 1.7% | - | 1.8% | 1.5% | 1.6% | - |
| Return on equity | 3.9% | - | 2.7% | 3.1% | 3.8% | - | 4.0% | 3.4% | 3.6% | - |
| Return on invested capital | 3.0% | - | 2.0% | 2.6% | 2.8% | - | 3.2% | 2.6% | 2.6% | - |
| Liquidity | ||||||||||
| Current ratio | 0.96 | 0.97 | 1.61 | 1.46 | 1.45 | 1.43 | 1.37 | 1.28 | 0.99 | 1.05 |
| Quick ratio | 0.57 | 0.58 | 1.19 | 1.03 | 1.02 | 1.03 | 0.96 | 0.84 | 0.56 | 0.54 |
| Cash ratio | 0.06 | 0.07 | 0.66 | 0.55 | 0.56 | 0.53 | 0.43 | 0.27 | 0.08 | 0.09 |
| Leverage | ||||||||||
| Debt / Equity | 0.69 | 0.66 | 0.56 | 0.59 | 0.58 | 0.58 | 0.61 | 0.63 | 0.57 | 0.67 |
| Debt / Assets | 0.29 | 0.28 | 0.26 | 0.27 | 0.27 | 0.26 | 0.27 | 0.28 | 0.25 | 0.28 |
| Debt / EBITDA | 8.81 | - | - | - | 8.91 | - | - | - | 8.99 | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 2.40 | 2.37 | 2.15 | 2.19 | 2.18 | 2.22 | 2.25 | 2.28 | 2.29 | 2.41 |
| Liabilities / Assets | 0.58 | 0.58 | 0.54 | 0.54 | 0.54 | 0.55 | 0.56 | 0.56 | 0.56 | 0.58 |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | - | 0.16 | 0.16 | 0.17 | - | 0.16 | 0.16 | 0.16 | - |
| Inventory turnover | 1.09 | - | 1.03 | 0.99 | 0.97 | - | 1.00 | 0.93 | 0.87 | - |
| Days sales outstanding | 179d | - | 181d | 179d | 172d | - | 187d | 210d | 186d | - |
| Days inventory outstanding | 335d | - | 353d | 370d | 375d | - | 363d | 394d | 420d | - |
| Days payable outstanding | 282d | - | 284d | 307d | 308d | - | 303d | 320d | 279d | - |
| Cash conversion cycle | 233d | - | 250d | 242d | 239d | - | 247d | 284d | 328d | - |
| Valuation | ||||||||||
| P / E | 74.6x | - | 152.2x | 141.2x | 107.2x | - | 139.6x | 142.4x | 135.2x | - |
| P / B | 2.9x | - | 4.1x | 4.4x | 4.0x | - | 5.6x | 4.9x | 4.9x | - |
| P / S | 6.7x | - | 11.6x | 12.3x | 11.1x | - | 15.2x | 13.2x | 13.3x | - |
| EV / EBITDA | 45.4x | - | - | - | 66.8x | - | - | - | 85.6x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 14.3% | - | 5.2% | 6.2% | 11.3% | - | 31.3% | 0.2% | -16.4% | - |
| Revenue CAGR (3y) | 2.1% | - | -1.4% | -4.1% | -3.0% | - | -4.4% | -4.0% | -4.5% | - |
| Revenue CAGR (5y) | 2.1% | - | 3.1% | 6.2% | 4.5% | - | 2.1% | 2.1% | 2.0% | - |
| Gross profit growth (YoY) | 15.0% | - | 3.4% | 4.6% | 14.6% | - | 43.6% | 1.4% | -15.6% | - |
| Operating income growth (YoY) | 10.3% | - | -4.2% | 9.6% | 22.6% | - | - | -13.9% | -29.3% | - |
| Net income growth (YoY) | -0.7% | - | -26.3% | -0.9% | 18.3% | - | - | -21.5% | -23.3% | - |
| EPS growth (YoY) | 3.8% | - | -25.4% | 0.9% | 17.5% | - | - | -21.9% | -23.1% | - |
| EPS CAGR (3y) | -2.1% | - | -15.5% | - | -11.9% | - | -10.6% | -18.9% | -19.2% | - |
| EPS CAGR (5y) | -8.4% | - | -1.8% | 3.4% | 9.7% | - | 1.1% | -0.8% | 1.0% | - |
| FCF growth (YoY) | 3.2% | - | - | - | 42.3% | - | - | - | - | - |
| FCF CAGR (5y) | -5.3% | - | - | - | 10.7% | - | - | - | 32.7% | - |
| Book value growth (YoY) | -4.3% | 0.1% | 9.5% | 10.0% | 14.4% | 18.1% | 13.5% | 9.9% | 9.6% | 11.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$5.40B totalConnected Frontline$2.96B · 54.9%
Asset Visibility And Automation$2.44B · 45.1%
Product / service
$5.40B totalTangible Products$4.42B · 81.9%
Service And Software$978.00M · 18.1%
Geographic
$10.79B totalNorth America$2.69B · 25.0%
US$2.64B · 24.5%
Other Segment$1.89B · 17.5%
EMEA$1.72B · 16.0%
DE$864.00M · 8.0%
Asia Pacific$613.00M · 5.7%
Latin America$364.00M · 3.4%
Peer comparison
Same SIC group: General Industrial Machinery & Equipment
Comparing ZEBRA TECHNOLOGIES CORP against the 5 most active filers in the same SIC group.