Zebra Technologies (ZBRA) FY2023 results: revenue $4.6 billion, down 20.7% on the year
Zebra Technologies Corp. (ZBRA) reported revenue of $4.6 billion for fiscal 2023, the year ended 31 December 2023, down 20.7% on the year before. Net income was $296 million, down 36.1%, and diluted earnings per share $5.72. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.
Revenue
$4.6 billion
-20.7% on the year
FY2016FY2023
Operating margin
10.5%
9.2% a year earlier
FY2016FY2023
Net income
$296 million
-36.1% on the year
FY2016FY2023
Diluted EPS
$5.72
-35.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
-4.0
488
1,069
Capital expenditure
87.0
75.0
59.0
+16.0%
Free cash flow
-91.0
413
1,010
Free cash flow margin
-2.0%
7.1%
17.9%
Cash from investing
-92.0
-968
-546
Cash from financing
117
253
-371
-53.8%
Depreciation and amortisation
176
204
187
-13.7%
Share-based compensation
55.0
88.0
76.0
-37.5%
Buybacks
52.0
751
57.0
-93.1%
Diluted shares, weighted
52m
53m
54m
-1.6%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,036
2,733
2,984
+11.1%
Deposits
1.0
12.0
12.0
-91.7%
Debt
2,220
2,023
991
+9.7%
Operating lease liabilities
152
139
121
+9.4%
Other liabilities
1,897
2,622
2,107
-27.7%
Total liabilities and equity
7,306
7,529
6,215
-3.0%
Fixed assets
309
278
272
+11.2%
Goodwill
3,895
3,899
3,265
-0.1%
Intangible assets
527
630
469
-16.3%
Investments
113
113
n/a
0.0%
Cash and equivalents
137
105
332
+30.5%
Receivables
521
768
752
-32.2%
Inventory
804
860
491
-6.5%
Other assets
1,000
876
634
+14.2%
Total assets
7,306
7,529
6,215
-3.0%
10-K for the year ended 31 December 2023, filed 15 February 2024: the filing.