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Zebra Technologies Corp. (ZBRA)

Zebra Technologies makes the equipment that captures data at the point where work happens: rugged handheld computers, barcode scanners, RFID readers, label and card printers, real-time location systems, machine vision cameras and self-service touchscreens, with the consumables, software and services around them. Its market is automatic identification and data capture. End-users sit in retail and e-commerce, manufacturing, transportation and logistics, healthcare, hospitality and the public sector. The company operates 129 facilities with approximately 10,700 employees worldwide and sells through a direct sales force and a network of over 10,000 channel partners across 179 countries. From the fourth quarter of 2025 it reports two segments.

Zebra Technologies Corp.

Zebra Technologies makes the equipment that captures data at the point where work happens: rugged handheld computers, barcode scanners, RFID readers, label and card printers, real-time location systems, machine vision cameras and self-service touchscreens, with the consumables, software and services around them. Its market is automatic identification and data capture. End-users sit in retail and e-commerce, manufacturing, transportation and logistics, healthcare, hospitality and the public sector. The company operates 129 facilities with approximately 10,700 employees worldwide and sells through a direct sales force and a network of over 10,000 channel partners across 179 countries. From the fourth quarter of 2025 it reports two segments.

Connected Frontline

Mobile computing plus the software and services attached to it. The hardware is rugged, enterprise-grade handheld and wearable computers, vehicle-mounted computers, tablets and kiosks, built to survive years of rough handling, mostly running Android with enterprise extensions and supporting local-area and wide-area voice and data. Uses run from inventory management in warehouses and distribution centres, through field service, post and parcel and direct store delivery, to mobile point of sale and inventory look-up in shops. Workflow optimisation software covers workforce management, task management, communication and collaboration, demand-sensing, price optimisation and prescriptive analytics, usually sold as cloud subscriptions under multi-year agreements. Services run from configuration and staging, design, testing and deployment through managed device and application services to maintenance, technical support, repair and recycling.

Asset Visibility and Automation

Printing, scanning and tracking. The printers use thermal printing, heating pixels on an electrical printhead to image a ribbon or heat-sensitive substrate, and produce labels, wristbands, tickets, receipts and plastic cards for routing and tracking, patient safety, transaction processing, personal identification, product authentication and ticketing. Dye-sublimation card printers make identification cards, driving licences, access cards and payment cards, and RFID printers encode data into passive transponders embedded in a label or card. The data capture range covers laser scanners and imagers in fixed, handheld and embedded original equipment manufacturer forms, fixed industrial scanners that track items from production through distribution, and machine vision cameras, controllers, frame grabbers and 3D sensors used in factory automation, semiconductor inspection, pharmaceutical packaging and food and beverage. RFID and real-time location products cover fixed readers, RFID-enabled mobile computers and sleds using passive ultra-high frequency to read hundreds or thousands of tags without line of sight, along with tags, sensors, exciters, middleware and application software.

Two acquisitions in 2025

On 30 September 2025 the company acquired Elo Holdings, Inc. for $1,303 million in cash, net of Elo's cash on hand, adding self-service and consumer-facing workflow products; Elo sits in Connected Frontline. On 28 February 2025 it acquired Photoneo for $62 million in cash, net of cash on hand, a developer and manufacturer of 3D machine vision products; Photoneo sits in Asset Visibility and Automation.

Selling and competing

Sales go directly and through the channel partner network. The filing points to the installed base, the breadth of the portfolio and the global distribution reach as the sources of its position, and notes that many deployments carry specialised product performance and software requirements, which it says could make switching costly for a customer. It describes the environment as highly competitive, with the same secular trends in artificial intelligence, cloud computing, automation and mobility that create its opportunities also creating openings for established and new competitors. The competitive factors it lists are the breadth and quality of offerings, pricing, design, performance, durability, geographic availability, warranty coverage, relationships with customers and channel partners, reputation and brand recognition.

From Zebra Technologies' annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Zebra Technologies became

Latest results

Latest quarterQ3 FY2026ended 3 October 2026 · 10-Q filed 3 November 2026
Revenue
$1.6 billion
+22.3% on the year · +3.7% on the quarter
Q4 FY2024Q3 FY2026
Net income
$164 million
+62.4% on the year · -29.6% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$3.43
+74.1% on the year · -29.3% on the quarter
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Last full yearFY2025ended 31 December 2025 · 10-K filed 12 February 2026
Revenue
$5.4 billion
+8.3% on the year
FY2018FY2025
Net income
$419 million
-20.6% on the year
FY2018FY2025
Diluted EPS
$8.18
-19.6% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsZebra Technologies (ZBRA) reported revenue of $5.4 billion for fiscal 2025, the year ended 31 December 2025, up 8.3% on the year before. Net income was $419 million and diluted earnings per share $8.18. Revenue was $5.0 billion in fiscal 2024, $4.6 billion in fiscal 2023, $5.8 billion in fiscal 2022 and $5.6 billion in fiscal 2021. Net income in the same years was $528 million, $296 million, $463 million and $837 million. Over the twelve months to 3 October 2026, Zebra Technologies reported revenue of $6.1 billion and net income of $602 million. Revenue grew 3.9% a year, compounded, over the five years to fiscal 2025. Zebra Technologies had 47 million shares outstanding at the latest filed count. At 3 October 2026 it carried $2.6 billion of debt and $182 million of cash. At the close of 6 November 2026 the market cap of Zebra Technologies was $15.2 billion, 26.0 times its earnings over the last twelve months.

Ratios

From the filings

ROE16.9%
ROCE14.8%
Operating margin14.9%
Net margin9.8%
FCF margin16.1%
Interest cover6.3x
Debt to equity0.72x
Cash conversion1.77x
Share count, last 12 months-7.1%
Sales CAGR, 3 years-2.3%
Profit CAGR, 3 years-3.3%
EPS, TTM$12.39

At the close of 6 November 2026

Price$321.91
Market cap$15.2 billion
Stock P/E26.0x
Price to book4.2x
EV / EBITDA15.4x
Dividend yieldn/a
Market cap / sales2.5x
52-week high$390.95
52-week low$199.30
Price, 1 year24.7%
Price CAGR, 3 years15.7%
Price CAGR, 5 years-11.9%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on long-term debt as Zebra Technologies Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
ZBRAgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,4671,4321,4681,3781,5031,4051,2149561,0091,1751,2171,2551,3341,3081,2931,3201,4751,4951,5571,614
Cost of revenue798795794750818738633529561612628642686663677686777753732876
Gross profit669637674628685667581427448563589613648645616634698742825738
Gross margin46%44%46%46%46%47%48%45%44%48%48%49%49%49%48%48%47%50%53%46%
R&D145137148143142146130127116138146141138151144146152165159158
Operating income223212-145202260225194-12.074.0159167191225195183183139215321237
Operating margin15%15%-10%15%17%16%16%-1%7%14%14%15%17%15%14%14%9%14%21%15%
Interest expensen/an/an/an/an/an/a16.016.0n/a17.023.031.027.023.025.023.037.037.035.035.0
Pre-tax income226250-153222225185171-24.02.014213614920816513815998.0167285198
Tax rate15%18%n/a23%17%19%16%n/a-750%19%17%8%22%18%19%36%29%19%18%17%
Net income191205-98.0170186150144-15.017.011511313716313611210170.0135233164
Net margin13%14%-7%12%12%11%12%-2%2%10%9%11%12%10%9%8%5%9%15%10%
Diluted EPS$3.54$3.83-$1.87$3.26$3.57$2.90$2.78-$0.28$0.32$2.23$2.17$2.64$3.14$2.62$2.19$1.97$1.39$2.72$4.85$3.43
Operating cash flow23354.010067.0267-76.0-34.0-35.0141125288294306178147235357176211324
Capital expenditure21.014.017.020.024.016.018.014.039.014.010.017.018.020.017.019.030.013.013.024.0
Free cash flow21240.083.047.0243-92.0-52.0-49.0102111278277288158130216327163198300
Buybacks32.030530050.096.015.037.00.00.00.00.016.031.012512534.030330026875.0
Shares outstanding53m53m52m52m51m51m51m51m51m51m52m52m51m51m51m51m49m48m47m47m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue9777388949839961,0381,6713,6523,5743,7224,2184,4854,4485,6275,7814,5844,9815,3966,141
Cost of revenue4974214744975055358932,0081,9322,0122,2372,3852,4452,9993,1572,4612,5682,8033,138
Gross profit4793184214874925047781,6441,6421,7101,9812,1002,0032,6282,6242,1232,4132,5933,003
Gross margin49.1%43.0%47.0%49.5%49.4%48.5%46.6%45.0%45.9%45.9%47.0%46.8%45.0%46.7%45.4%46.3%48.4%48.1%48.9%
Research and development95.866.582.689.987.491.1151394376389444447453567570519563593634
Operating income-15.370.314818216416089.037.080.0322610692651979529481742700912
Operating margin-1.6%9.5%16.6%18.5%16.5%15.4%5.3%1.0%2.2%8.7%14.5%15.4%14.6%17.4%9.2%10.5%14.9%13.0%14.9%
Interest expensen/an/an/an/a0.20.062.019319322791.089.076.05.0n/a13398.0108144
Pre-tax income-11.972.315018016416417.0-180-12988.0524598560968544334635560748
Income tax26.523.845.049.442.330.0-15.0-22.08.071.010354.056.013181.038.0107141146
Effective tax raten/a32.9%30.1%27.5%25.8%18.3%-88.2%n/an/a80.7%19.7%9.0%10.0%13.5%14.9%11.4%16.9%25.2%19.5%
Net income-38.447.110217512313432.0-158-13717.0421544504837463296528419602
Net margin-3.9%6.4%11.4%17.8%12.3%12.9%1.9%-4.3%-3.8%0.5%10.0%12.1%11.3%14.9%8.0%6.5%10.6%7.8%9.8%
Diluted EPS-$0.60$0.79$1.77$3.22$2.37$2.63$0.63-$3.10-$2.65$0.32$7.76$9.97$9.35$15.52$8.80$5.72$10.18$8.18$12.39
Filing10-K10-K10-K10-K10-K10-K10-K10-K/A10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment FY2011 to FY2025

FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
CFn/an/an/an/an/an/an/an/an/an/an/an/a2,2802,7142,96054.9%
AVAn/an/an/an/an/an/an/an/an/an/an/an/a2,3042,2672,43645.1%
AITn/an/an/an/an/an/a1,3111,4231,4471,3691,7341,837n/an/an/an/a
Asian/a138153216463483n/an/an/an/an/an/an/an/an/an/a
EVMn/an/an/an/an/an/a2,4142,7953,0383,0863,8993,944n/an/an/an/a
Europe, Middle East & African/a3233265831,1941,138n/an/an/an/an/an/an/an/an/an/a
Latin American/a10099.0135219214n/an/an/an/an/an/an/an/an/an/a
North American/a4364607371,7741,739n/an/an/an/an/an/an/an/an/an/a
Other Segment3.4n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Singapore137n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
United Kingdom339n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
United States504n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Corporate, eliminationsn/an/an/an/an/an/an/an/an/a-7.0n/an/an/an/an/an/a
CF FY2023 to FY2025AVA FY2023 to FY2025EVM FY2017 to FY2022AIT FY2017 to FY2022North America FY2012 to FY2016Europe, Middle East & Africa FY2012 to FY2016Asia FY2012 to FY2016Latin America FY2012 to FY2016United States FY2011United Kingdom FY2011Singapore FY2011Other Segment FY2011
983FY20111,038FY20133,650FY20153,725FY20174,485FY20195,633FY20214,584FY20235,396FY2025

$ million; hover a block for its figure and share; the figure over a bar is its parts, before the lines named below; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in. Corporate, eliminations is the company's own eliminations and corporate items, which take the parts to revenue: shown as filed, with no share and no block in the chart.

Profit by segment FY2017 to FY2025

The operating profit each segment reports. Costs Zebra Technologies does not charge to a segment are left out, so the segments can add up to more than the company's own operating profit.

FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Margin
FY2025
CFn/an/an/an/an/an/a32855958519.8%
AVAn/an/an/an/an/an/a42742051421.1%
AIT274325351331386361n/an/an/an/a
EVM301404487457746711n/an/an/an/a
CF FY2023 to FY2025EVM FY2017 to FY2022AVA FY2023 to FY2025AIT FY2017 to FY2022
575FY2017838FY20191,132FY2021755FY20231,099FY2025

$ million; the figure over a bar is all the segments together. Hover a block for its profit, sales and margin.

FY2025Share of salesShare of profit
CF55%53%
AVA45%47%

Each column adds to 100%. A segment with a bigger share of the profit than of the sales makes more on each dollar it sells.

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where every segment with sales that year has an operating profit figure. A margin is a segment's operating profit over its own sales.

Revenue by product or service FY2009 to FY2025

FY2009FY2010FY2011FY2012FY2013FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
Tangible Productsn/an/an/an/an/an/an/a3,0563,2233,6853,9073,8134,8454,9153,6654,0164,41881.9%
Services and Software42.444.847.247.954.017251951849953357863578286691996597818.1%
Hardware5356777437367401,2342,863n/an/an/an/an/an/an/an/an/an/an/a
Shipping and Handling5.35.25.5n/an/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Supplies156168187212244265268n/an/an/an/an/an/an/an/an/an/an/a
Tangible Products FY2016 to FY2025Services and SoftwareHardware FY2009 to FY2015Supplies FY2009 to FY2015Shipping and Handling FY2009 to FY2011
894FY20101,038FY20133,574FY20164,485FY20195,781FY20225,396FY2025

$ million; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region FY2011 to FY2025, 5 years left out

FY2011FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025Share
of the parts, latest year
North America4091,7982,0412,2612,3192,8192,9192,3532,4922,69549.9%
EMEAn/a1,2211,4091,4621,4951,9761,9201,4331,6351,72431.9%
Asia-Pacificn/a46852051843954360951352661311.4%
Latin America89.72352482441952893332853283646.7%
Asia142n/an/an/an/an/an/an/an/an/an/a
Other3.4n/an/an/an/an/an/an/an/an/an/a
United Kingdom339n/an/an/an/an/an/an/an/an/an/a
North AmericaEMEA FY2017 to FY2025Asia-Pacific FY2017 to FY2025Latin AmericaUnited Kingdom FY2011Asia FY2011Other FY2011
3,722FY20174,485FY20195,627FY20214,584FY20235,396FY2025

$ million; hover a block for its figure and share; a part named with years is one the company split its revenue into only then

From the company's 10-Ks, in its own words (latest 10-K).
Read moreEach year's figures come from the most recent 10-K that includes that year. A year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow

FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow13810614278.31831952481223804787856859621,069488-4.01,0139171,068
Capital expenditure40.924.930.726.922.420.039.012277.050.064.061.067.059.075.087.059.086.080.0
Free cash flow97.480.811151.41611752090.03034287216248951,010413-91.0954831988
Free cash flow margin10.0%10.9%12.4%5.2%16.2%16.8%12.5%0.0%8.5%11.5%17.1%13.9%20.1%17.9%7.1%-2.0%19.2%15.4%16.1%
Cash from investing21.4-40.7-39.653.2-106-153n/a-148-39.0-51.0-137-335-641-546-968-92.0-57.0-1,455-1,373
Cash from financing-150-60.5-92.9-146-49.4-44.2n/a-161-384-517-661-365-157-371253117-190-239-570
Depreciation and amortisation38.632.931.224.026.232.081.0320304263175175146187204176172185229
Share-based compensation15.011.511.914.114.713.020.031.027.035.045.048.051.076.088.055.089.0163169
Buybacks15865.410216054.463.10.00.0n/a0.00.047.020057.075152.047.0587946
Diluted shares, weighted65m59m57m54m52m51m51m51m52m54m54m55m54m54m53m52m52m51m48m
Shares outstanding at period endn/a58m56m52m51m50m52mn/an/an/an/an/an/an/an/an/an/an/a47m
Filing10-K10-K10-K10-K10-K10-K10-K10-K/A10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2008 †FY2009 †FY2010 †FY2011 †FY2012 †FY2013 †FY2014 †FY2015 †FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity7117127307778579591,0408937928341,3351,8392,1442,9842,7333,0363,5863,5883,568
Depositsn/an/an/an/an/an/an/an/an/an/an/an/a24.012.012.01.0n/an/an/a
Debtn/an/a0.00.00.00.03,1613,0122,6482,2271,5911,2771,2459912,0232,2202,1712,5022,578
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/a0.0100129121139152155157167
Other liabilitiesn/a1181491221111611,3381,1351,1921,2141,4131,4951,8332,1072,6221,8972,0562,2552,507
Total liabilities and equityn/a8308798999681,1205,5395,0404,6324,2754,3394,7115,3756,2157,5297,3067,9688,5028,820
Owned
Fixed assetsn/a77.687.197.8101110255298292264249259274272278309305353348
Goodwilln/a15379.779.794.91562,4902,4932,4582,4652,4952,6222,9883,2653,8993,8953,8914,7274,698
Intangible assetsn/a56.09.812.739.269.01,029757480299232275402469630527422809687
Investmentsn/a20621129032935324.00.0n/an/an/an/an/an/a11311311010396.0
Securities held for sale or to maturityn/an/an/an/an/an/an/an/a0.0n/an/an/an/an/an/an/an/an/an/a
Cash and equivalents29.837.247.536.465.063.039419215662.044.030.0168332105137901125182
Receivablesn/a1511301551691776706716254795206135087527685216928011,025
Inventoryn/a79.9113133123121394397345458520474511491860804693729851
Other assetsn/a69.520193.745.971.52832322762482794385246348761,000954855933
Total assetsn/a8308798999681,1205,5395,0404,6324,2754,3394,7115,3756,2157,5297,3067,9688,5028,820
Filing10-K10-K10-K10-K10-K10-K10-K10-K/A10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded4.0%3.9%-2.3%16.9%
Profit growth, compoundedn/a-3.6%-3.3%17.6%
Return on equity, average15.1%16.2%12.1%11.7%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Zebra Technologies' revenue in fiscal 2025?

Zebra Technologies (ZBRA) reported revenue of $5.4 billion for fiscal 2025, the year ended 31 December 2025, up 8.3% on the year before.

How much did Zebra Technologies earn in fiscal 2025?

Net income was $419 million for fiscal 2025, and diluted earnings per share $8.18.

What is Zebra Technologies' P/E ratio?

At the close of 6 November 2026, Zebra Technologies traded at 26.0 times its earnings over the twelve months to 3 October 2026.

What is Zebra Technologies' market cap?

The market cap of Zebra Technologies was $15.2 billion at the close of 6 November 2026.

How much debt does Zebra Technologies have?

At 3 October 2026 Zebra Technologies carried $2.6 billion of debt and $182 million of cash.

Peers: Machinery

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Illinois Tool Works Inc. ITW$79.9 billion25.04102.7%26.6%4.8%2.982.3%
Ingersoll Rand Inc. IR$31.9 billion23.3713.2%22.9%8.0%0.45n/a
Curtiss Wright Corp. CW$16.9 billion30.9021.7%18.9%10.7%0.370.2%
Idex Corp. IEX$16.7 billion31.5413.3%20.9%6.9%0.441.3%
RBC Bearings Inc. RBC$15.6 billion42.4610.0%24.4%17.4%0.20n/a
Zebra Technologies Corp. ZBRA$15.2 billion25.9816.9%14.9%16.9%0.72n/a
Lincoln Electric Holdings Inc. LECO$14.9 billion26.4137.0%17.3%11.1%0.741.1%
CNH Industrial N.V. CNH$14.3 billion46.224.0%n/a0.6%3.332.2%
Zurn Elkay Water Solutions Corp. ZWS$7.2 billion25.4217.2%22.1%10.1%0.301.0%
Gates Industrial Corp. Ltd. GTES$6.1 billion16.7410.4%13.5%4.0%0.62n/a
Graham Corp. GHM$915 million67.776.7%6.0%16.2%0.00n/a
Twin Disc Inc. TWIN$331 million10.5914.1%5.2%12.1%0.180.7%
All 85 in Machinery
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
ASML Holding N.V. ASML *$549.0 billion51.6449.0%34.6%15.6%0.220.5%
Caterpillar Inc. CAT$255.6 billion21.9255.1%18.3%20.3%2.101.1%
Lam Research Corp. LRCX$250.2 billion29.8660.8%37.0%33.4%0.270.6%
Deere & Co. DE$181.2 billion37.3317.4%13.4%8.0%2.281.0%
Eaton Corp. plc ETN$132.8 billion34.1418.6%n/a20.1%0.961.3%
Johnson Controls International plc JCI$81.8 billion23.4726.5%n/a6.8%0.701.2%
Illinois Tool Works Inc. ITW$79.9 billion25.04102.7%26.6%4.8%2.982.3%
Cummins Inc. CMI$61.7 billion18.7924.9%12.5%6.7%0.561.8%
Baker Hughes Co. BKR$47.5 billion16.5014.4%n/a3.7%0.91n/a
Carrier Global Corp. CARR$42.8 billionn/a-17.3%-4.8%3.3%1.101.3%
Ingersoll Rand Inc. IR$31.9 billion23.3713.2%22.9%8.0%0.45n/a
Dover Corp. DOV$27.1 billion23.8915.3%17.0%8.2%0.431.0%
TechnipFMC plc FTI$24.8 billion19.9838.6%16.8%9.1%0.120.3%
Xylem Inc. XYL$22.4 billion21.6510.5%15.1%1.9%0.281.7%
Symbotic Inc. SYM$22.2 billion409.171.8%0.9%20.6%0.00n/a
ITT Inc. ITT$18.3 billion42.308.8%14.0%35.8%0.740.7%
Nordson Corp. NDSN$17.3 billion31.3417.0%26.9%7.0%0.531.1%
nVent Electric plc NVT$17.2 billion25.6016.5%17.8%48.0%0.530.8%
Curtiss Wright Corp. CW$16.9 billion30.9021.7%18.9%10.7%0.370.2%
Idex Corp. IEX$16.7 billion31.5413.3%20.9%6.9%0.441.3%
RBC Bearings Inc. RBC$15.6 billion42.4610.0%24.4%17.4%0.20n/a
Zebra Technologies Corp. ZBRA$15.2 billion25.9816.9%14.9%16.9%0.72n/a
Lincoln Electric Holdings Inc. LECO$14.9 billion26.4137.0%17.3%11.1%0.741.1%
CNH Industrial N.V. CNH$14.3 billion46.224.0%n/a0.6%3.332.2%
Lennox International Inc. LII$11.7 billion15.8756.9%18.8%1.9%1.231.5%
Regal Rexnord Corp. RRX$11.3 billion48.883.4%10.0%4.7%0.650.8%
BWX Technologies, Inc. BWXT$11.0 billion29.3026.4%12.4%17.7%1.430.9%
Graco Inc. GGG$10.9 billion21.8221.0%26.8%5.4%0.051.7%
Pentair plc PNR$10.9 billion18.0715.9%19.6%-3.9%0.381.6%
Moog Inc. MOG.A$10.3 billion27.5517.0%13.3%15.6%0.410.4%
Flowserve Corp. FLS$10.2 billion40.3811.0%10.0%0.2%0.891.1%
Toro Co. TTC$9.9 billion28.0327.2%10.3%5.2%0.721.5%
Donaldson Co. Inc. DCI$9.8 billion21.9025.7%15.4%5.3%0.751.4%
Agco Corp. AGCO$7.6 billion28.416.9%5.6%0.9%0.661.1%
Zurn Elkay Water Solutions Corp. ZWS$7.2 billion25.4217.2%22.1%10.1%0.301.0%
SPX Technologies, Inc. SPXC$7.1 billion24.1812.2%16.1%20.2%0.55n/a
Timken Co. TKR$7.0 billion25.258.9%11.0%5.9%0.611.4%
JBT Marel Corp. JBTM$6.6 billion34.224.4%7.3%20.3%0.380.3%
NOV Inc. NOV$6.3 billion43.912.3%5.5%-1.0%0.272.0%
Middleby Corp. MIDD$6.2 billionn/a-21.3%16.5%8.4%0.90n/a
Weatherford International plc WFRD$6.1 billion15.0620.7%12.4%-5.7%0.761.3%
Gates Industrial Corp. Ltd. GTES$6.1 billion16.7410.4%13.5%4.0%0.62n/a
Esab Corp. ESAB$5.1 billion33.536.1%11.2%11.0%0.910.5%
Brunswick Corp. BC$5.0 billion23.6312.5%5.7%10.4%1.182.3%
Aaon, Inc. AAON$4.7 billion29.7915.8%11.0%53.5%0.430.7%
Cactus, Inc. WHD$4.7 billion40.3714.1%18.8%40.4%0.001.0%
Solaris Energy Infrastructure, Inc. SEI$4.6 billion60.165.9%22.8%73.8%2.040.8%
Alliance Laundry Holdings Inc. ALH$4.5 billion24.8535.6%19.1%n/an/a0.0%
Kadant Inc. KAI$3.5 billion31.5210.7%15.0%12.5%0.500.5%
Hayward Holdings, Inc. HAYW$3.4 billion20.8310.7%21.6%7.6%0.600.0%
ACM Research, Inc. ACMR$3.3 billion27.876.1%14.5%29.1%0.18n/a
Axcelis Technologies Inc. ACLS$3.1 billion29.549.4%10.3%4.3%0.00n/a
Standex International Corp. SXI$2.8 billion24.3414.6%22.5%8.3%0.670.6%
Ouster, Inc. OUST$2.5 billionn/a-8.2%-25.6%63.7%0.00n/a
Dnow Inc. DNOW$2.4 billionn/a-8.8%-3.9%96.8%0.18n/a
Veeco Instruments Inc. VECO$2.3 billion92.962.8%3.0%6.6%0.25n/a
Enerpac Tool Group Corp. EPAC$2.0 billion22.5819.8%19.8%5.7%0.400.1%
Cricut, Inc. CRCT$1.8 billion19.0723.8%16.7%-0.9%0.002.3%
Flowco Holdings Inc. FLOC$1.8 billion18.2210.5%18.6%20.4%0.670.4%
Gorman Rupp Co. GRC$1.8 billion24.1216.0%16.1%6.5%0.54n/a
Kennametal Inc. KMT$1.8 billion3.0332.4%31.0%32.5%0.623.5%
Innovex International, Inc. INVX$1.8 billion36.394.4%6.9%7.0%0.02n/a
Azenta, Inc. AZTA$1.7 billionn/a-8.1%-28.6%4.8%0.00n/a
Alamo Group Inc. ALG$1.6 billion20.876.5%6.9%1.8%0.201.0%
Tennant Co. TNC$1.2 billion53.354.2%3.9%-0.4%0.651.7%
Lindsay Corp. LNN$1.1 billion19.9511.0%10.5%-6.0%0.231.4%
Graham Corp. GHM$915 million67.776.7%6.0%16.2%0.00n/a
Power Solutions International, Inc. PSIX$903 million12.8330.1%14.9%-0.2%0.16n/a
Aebi Schmidt Holding AG AEBI$864 million35.062.6%4.5%79.4%0.751.5%
Douglas Dynamics, Inc. PLOW$839 million13.1720.8%12.7%22.8%0.333.3%
Astec Industries Inc. ASTE$824 million71.501.7%3.1%13.8%0.551.5%
Manitowoc Co. Inc. MTW$807 million31.493.7%3.6%10.2%0.67n/a
Forum Energy Technologies, Inc. FET$800 million27.469.5%7.4%10.6%0.40n/a
Columbus McKinnon Corp. CMCO$510 millionn/a-25.9%-6.8%80.7%1.801.6%
Oil States International, Inc. OIS$499 millionn/a-18.4%-14.0%-0.7%0.03n/a
Energy Recovery, Inc. ERII$364 million79.333.1%0.8%-26.2%0.00n/a
Twin Disc Inc. TWIN$331 million10.5914.1%5.2%12.1%0.180.7%
Gencor Industries Inc. GENC$250 million16.886.6%11.7%-6.4%0.00n/a
Taylor Devices, Inc. TAYD$244 millionn/a9.3%13.2%-12.5%0.00n/a
Perma-Pipe International Holdings, Inc. PPIH$234 million15.0016.7%12.1%24.8%0.39n/a
NN Inc. NNBR$225 millionn/a-25.3%-3.1%13.9%1.63n/a
Serve Robotics Inc. SERV$203 millionn/a-67.7%-2,207.0%410.9%0.00n/a
Amtech Systems Inc. ASYS$200 million43.963.5%8.1%-2.4%0.00n/a
Ampco Pittsburgh Corp. AP$122 millionn/a-190.4%-11.1%3.3%4.42n/a
Sono TEK Corp. SOTK$68 million35.929.5%10.2%4.4%0.00n/a
6 companies share its SEC industry code (General Industrial Machinery & Equipment); the rest are the names nearest in size in its wider industry, Machinery, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on ZBRA

Dividendsno dividend in its filings for fiscal 2008 onward
Filings16 in twelve months: 7 current reports (8-K), about 4 results of operations; 2 officer or director change; 1 shareholder vote; 1 other events; 1 exit or disposal costs
Planned insider sales6 Form 144 notices in twelve months, $2.4 million; latest 10 August 2026
Options tapeput/call 1.23 by open interest at the 6 November 2026 close; the straddle prices a 6.9% move to 20 November 2026
13F holders649 funds reported a position for the quarter to 30 June 2026; largest BlackRock, Inc.
Insider trading6 sales and 4 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest1.5 million shares short, 3.27 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q3 October 20263 November 2026EDGAR
10-Q4 July 20264 August 2026EDGAR
10-Q4 April 202612 May 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q27 September 202528 October 2025EDGAR
10-Q28 June 20255 August 2025EDGAR
10-Q29 March 202529 April 2025EDGAR
10-K31 December 202413 February 2025EDGAR
10-Q28 September 202429 October 2024EDGAR
10-Q29 June 202430 July 2024EDGAR

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