Zebra Technologies (ZBRA) FY2019 results: revenue $4.5 billion, up 6.3% on the year
Zebra Technologies Corp. (ZBRA) reported revenue of $4.5 billion for fiscal 2019, the year ended 31 December 2019, up 6.3% on the year before. Net income was $544 million, up 29.2%, and diluted earnings per share $9.97. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$4.5 billion
+6.3% on the year
FY2012FY2019
Operating margin
15.4%
14.5% a year earlier
FY2012FY2019
Net income
$544 million
+29.2% on the year
FY2012FY2019
Diluted EPS
$9.97
+28.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
4,485
4,218
3,722
+6.3%
Cost of revenue
2,385
2,237
2,012
+6.6%
Gross profit
2,100
1,981
1,710
+6.0%
Gross margin
46.8%
47.0%
45.9%
Research and development
447
444
389
+0.7%
Operating income
692
610
322
+13.4%
Operating margin
15.4%
14.5%
8.7%
Interest expense
89.0
91.0
227
-2.2%
Pre-tax income
598
524
88.0
+14.1%
Income tax
54.0
103
71.0
-47.6%
Effective tax rate
9.0%
19.7%
80.7%
Net income
544
421
17.0
+29.2%
Net margin
12.1%
10.0%
0.5%
Diluted EPS
$9.97
$7.76
$0.32
+28.5%
$ million except per share. 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.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
685
785
478
-12.7%
Capital expenditure
61.0
64.0
50.0
-4.7%
Free cash flow
624
721
428
-13.5%
Free cash flow margin
13.9%
17.1%
11.5%
Cash from investing
-335
-137
-51.0
Cash from financing
-365
-661
-517
Depreciation and amortisation
175
175
263
0.0%
Share-based compensation
48.0
45.0
35.0
+6.7%
Buybacks
47.0
0.0
0.0
Diluted shares, weighted
55m
54m
54m
+0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,839
1,335
834
+37.8%
Debt
1,277
1,591
2,227
-19.7%
Operating lease liabilities
100
0.0
n/a
Other liabilities
1,495
1,413
1,214
+5.8%
Total liabilities and equity
4,711
4,339
4,275
+8.6%
Fixed assets
259
249
264
+4.0%
Goodwill
2,622
2,495
2,465
+5.1%
Intangible assets
275
232
299
+18.5%
Cash and equivalents
30.0
44.0
62.0
-31.8%
Receivables
613
520
479
+17.9%
Inventory
474
520
458
-8.8%
Other assets
438
279
248
+57.0%
Total assets
4,711
4,339
4,275
+8.6%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.