Zebra Technologies (ZBRA) FY2020 results: revenue $4.4 billion, down 0.8% on the year
Zebra Technologies Corp. (ZBRA) reported revenue of $4.4 billion for fiscal 2020, the year ended 31 December 2020, down 0.8% on the year before. Net income was $504 million, down 7.4%, and diluted earnings per share $9.35. The figures are the company's own, from the 10-K it filed with the SEC on 11 February 2021.
Revenue
$4.4 billion
-0.8% on the year
FY2013FY2020
Operating margin
14.6%
15.4% a year earlier
FY2013FY2020
Net income
$504 million
-7.4% on the year
FY2013FY2020
Diluted EPS
$9.35
-6.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,448
4,485
4,218
-0.8%
Cost of revenue
2,445
2,385
2,237
+2.5%
Gross profit
2,003
2,100
1,981
-4.6%
Gross margin
45.0%
46.8%
47.0%
Research and development
453
447
444
+1.3%
Operating income
651
692
610
-5.9%
Operating margin
14.6%
15.4%
14.5%
Interest expense
76.0
89.0
91.0
-14.6%
Pre-tax income
560
598
524
-6.4%
Income tax
56.0
54.0
103
+3.7%
Effective tax rate
10.0%
9.0%
19.7%
Net income
504
544
421
-7.4%
Net margin
11.3%
12.1%
10.0%
Diluted EPS
$9.35
$9.97
$7.76
-6.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
962
685
785
+40.4%
Capital expenditure
67.0
61.0
64.0
+9.8%
Free cash flow
895
624
721
+43.4%
Free cash flow margin
20.1%
13.9%
17.1%
Cash from investing
-641
-335
-137
Cash from financing
-157
-365
-661
Depreciation and amortisation
146
175
175
-16.6%
Share-based compensation
51.0
48.0
45.0
+6.2%
Buybacks
200
47.0
0.0
+325.5%
Diluted shares, weighted
54m
55m
54m
-1.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,144
1,839
1,335
+16.6%
Deposits
24.0
n/a
n/a
Debt
1,245
1,277
1,591
-2.5%
Operating lease liabilities
129
100
0.0
+29.0%
Other liabilities
1,833
1,495
1,413
+22.6%
Total liabilities and equity
5,375
4,711
4,339
+14.1%
Fixed assets
274
259
249
+5.8%
Goodwill
2,988
2,622
2,495
+14.0%
Intangible assets
402
275
232
+46.2%
Cash and equivalents
168
30.0
44.0
+460.0%
Receivables
508
613
520
-17.1%
Inventory
511
474
520
+7.8%
Other assets
524
438
279
+19.6%
Total assets
5,375
4,711
4,339
+14.1%
10-K for the year ended 31 December 2020, filed 11 February 2021: the filing.