Zebra Technologies

Information Technology Electronic Equipment & Instruments Lincolnshire, Illinois Last filing Feb 12, 2026 · FY2025

                    Revenue
                    FY2025
                
$5.4B
                    3y CAGR -2.3%
                    
                    P17
                    
                    +8.3%
                    
                    Net income
                    FY2025
                
$419.0M
                    Net margin +7.8%
                    
                    P22
                    
                    -20.6%
                    
                    Total assets
                    FY2025
                
$8.5B
                    ROA +4.9%
                    
                    P25
                    
                    +6.7%
                    
                    Operating cash flow
                    FY2025
                
$917.0M
                    FCF margin +15.4%
                    
                    P27
                    
                    -9.5%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $8.5B

Total liabilities $4.9B

Shareholders equity $3.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	-2.4%	+24.5%	-1.8%	-6.4%	+16.3%	+1.9%	-42.3%	-46.9%	-60.3%	—
Accounts Receivable	+2.8%	+1.3%	-2.6%	+3.5%	+3.8%	-5.0%	-0.6%	-8.8%	-23.4%	—
Inventory	+8.7%	+9.1%	+12.8%	+16.4%	+7.3%	+10.3%	+11.2%	+22.8%	+32.8%	—
Prepaid Expenses	+6.2%	+9.7%	+12.6%	+11.7%	+10.6%	+2.3%	-10.4%	-8.1%	-62.5%	—
Other Current Assets	-0.4%	-5.7%	+10.2%	-3.4%	-24.2%	-15.9%	+0.0%	-13.4%	+25.0%	—
Total Current Assets	+4.4%	+9.0%	+4.6%	+7.5%	+6.7%	+1.0%	-0.7%	-2.5%	-13.0%	—
Property,Plant and Equipment	+2.1%	+0.5%	+0.8%	-0.8%	-1.4%	-1.6%	-3.9%	-7.7%	-9.6%	—
Operating Lease Assets	—	—	—	—	—	—	—	—	—	—
Goodwill	+7.5%	+5.9%	+6.8%	+8.0%	+5.8%	+5.0%	+2.2%	+0.7%	+0.3%	—
Intangible Assets	+6.0%	-1.6%	+1.3%	+4.6%	-0.5%	-4.3%	-16.9%	-30.5%	-37.7%	—
Deferred Tax Assets	+15.5%	+20.8%	+21.4%	+23.8%	+11.2%	+5.3%	+4.0%	+0.4%	+5.3%	—
Other Noncurrent Assets	+15.1%	+16.7%	+23.6%	+26.6%	+24.1%	+25.1%	+23.4%	+14.0%	-3.0%	—
Total Assets	+7.0%	+7.0%	+6.7%	+8.4%	+6.1%	+3.8%	+0.6%	-3.2%	-7.7%	—
Liabilities
Accounts Payable	+6.0%	+5.5%	+1.4%	+11.9%	+11.1%	+9.8%	+10.2%	+15.6%	+2.7%	—
Accrued Liabilities	+5.7%	+5.7%	+5.8%	+16.9%	+13.5%	+13.8%	+6.5%	+5.2%	-1.7%	—
Deferred Revenue	+9.9%	+11.4%	+13.3%	+14.3%	+14.7%	+12.7%	+7.6%	+4.9%	-2.6%	—
Current Portion of Long Term Debt	—	—	—	—	—	—	—	—	—	—
Total Current Liabilities	+7.7%	+7.6%	+7.7%	+16.2%	+13.7%	+18.2%	+13.9%	+17.1%	+5.4%	—
Long Term Debt	-1.3%	-2.9%	-3.6%	-6.2%	-19.0%	-24.1%	-25.8%	-26.4%	-17.8%	—
Deferred Revenue Noncurrent	+13.8%	+11.9%	+14.1%	+17.9%	+20.5%	+21.8%	+21.2%	+17.8%	+19.4%	—
Operating Lease Liabilities Noncurrent	—	—	—	—	—	—	—	—	—	—
Deferred Tax Liabilities	+30.1%	+44.5%	+55.9%	+71.0%	+14.9%	—	—	+63.3%	—	—
Other Noncurrent Liabilities	+0.0%	-6.1%	-3.0%	-1.2%	-10.4%	-4.4%	-16.7%	-12.4%	+0.9%	—
Total Liabilities	+2.8%	+1.7%	+1.5%	+3.8%	-3.4%	-4.2%	-9.2%	-11.6%	-10.4%	—
Equity
Preferred Stock	—	—	—	—	—	—	—	—	—	—
Common Stock	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	+0.0%	—
Additional Paid In Capital	+16.2%	+15.6%	+16.6%	+17.8%	+17.1%	+17.1%	+17.3%	+18.3%	+22.4%	—
Retained Earnings	+17.5%	+18.6%	+19.6%	+21.7%	+23.6%	+21.9%	+21.6%	+16.7%	+0.6%	—
Treasury Stock	+16.8%	+15.2%	+17.1%	+19.6%	+10.7%	+10.6%	+3.9%	-0.1%	+1.0%	—
Accumulated Other Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Total Stockholders Equity	+18.3%	+20.8%	+21.2%	+22.9%	+30.4%	+28.3%	+32.4%	+29.8%	+5.3%	—
Total Liabilitiesand Equity	+7.0%	+7.0%	+6.7%	+8.4%	+6.1%	+3.8%	+0.6%	-3.2%	-7.7%	—

Income Statement

Revenue, expense, and profitability

16 accounts · 10 years

Revenue $5.4B

Operating income $700.0M

Net income $419.0M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+4.7%	+4.2%	+3.6%	+8.3%	+9.5%	+5.6%	+7.9%	+8.6%	+4.1%	—
Expenses Cost of Revenue	+4.2%	+3.6%	+3.5%	+8.5%	+9.2%	+6.1%	+7.3%	+7.6%	+4.1%	—
Other Income Expense Gross Profit	+5.2%	+4.9%	+3.7%	+8.1%	+9.9%	+5.1%	+8.5%	+9.8%	+4.1%	—
Expenses Research and Development	+5.2%	+5.2%	+4.7%	+7.2%	+8.6%	+4.8%	+5.9%	+8.7%	+3.5%	—
Expenses Selling,General and Administrative	+4.2%	+3.4%	+2.9%	+4.6%	+4.5%	+1.2%	+3.2%	+3.9%	-0.3%	—
Expenses Depreciation and Amortization	-7.5%	-9.4%	-10.7%	-8.3%	-12.9%	-23.6%	-23.4%	-34.9%	-19.7%	—
Expenses Restructuring and Asset Impairment	-0.7%	-17.7%	+2.8%	-25.4%	-38.7%	-39.3%	-50.2%	-63.1%	-80.2%	—
Expenses Other Operating Expenses	-16.8%	-31.6%	-35.2%	+21.0%	-27.5%	-34.5%	-44.0%	-74.7%	-60.0%	—
Expenses Operating Expenses	+2.2%	+0.8%	+0.7%	+5.0%	+1.1%	-3.5%	-3.4%	-6.3%	-11.1%	—
Other Income Expense Operating Income	+27.3%	+32.1%	+29.2%	+37.0%	+65.0%	+68.9%	+105.3%	+176.1%	+302.5%	—
Other Income Expense Other Income/expense	—	—	—	—	—	—	—	—	—	—
Other Income Expense Income Before Tax	—	—	—	—	—	—	—	—	—	—
Income Tax Income Tax Expense	+37.5%	+38.3%	+24.9%	+47.1%	+74.9%	+62.7%	+89.0%	+258.8%	+787.5%	—
net Income net Income	—	—	—	—	—	—	—	—	—	—
net Income Comprehensive Income	—	—	—	—	—	—	—	—	—	—
Earnings Per Share Diluted Eps	—	—	—	—	—	—	—	—	—	—

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $917.0M

Investing cash flow $-1.5B

Financing cash flow $-239.0M

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	—	—	—	—	—	—	—	—	—	—
Operating Activities Depreciation and Amortization	—	—	—	—	—	—	—	—	—	—
Operating Activities Stock Based Compensation	+22.1%	+16.1%	+10.7%	+21.8%	+23.0%	+17.2%	+21.1%	+29.1%	+29.6%	—
Operating Activities Deferred Income Taxes	—	—	—	—	—	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	-7.0%	+12.0%	—	-26.7%	-13.1%	+18.3%	—	+1.8%	-51.1%	—
Operating Activities Other Non Cash Items	-5.2%	—	—	—	—	-21.0%	-37.7%	-85.5%	+11.6%	—
Operating Activities net Cash From Operating Activities	+10.3%	+13.0%	—	+4.3%	+23.0%	+26.1%	+21.7%	+43.7%	+25.8%	—
Investing Activities Capital Expenditures	—	—	—	—	—	—	—	—	—	—
Investing Activities Business Acquisitions	—	—	—	—	—	—	—	—	—	—
Investing Activities Purchases of Investments	—	—	—	—	—	—	—	—	—	—
Investing Activities Other Investing Activities	-33.4%	-22.6%	—	—	—	-37.4%	-36.5%	-77.4%	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities Proceeds From Debt	+14.6%	+26.1%	+23.2%	+52.5%	-14.7%	+31.2%	+84.2%	+198.5%	+1244.1%	—
Financing Activities Repayment of Debt	—	—	—	—	—	—	—	—	—	—
Financing Activities Repurchase of Common Stock	—	—	—	—	—	—	—	—	—	—
Financing Activities Tax Withholding On Stock Based Compensation	—	—	—	—	—	—	—	—	—	—
Financing Activities Other Financing Activities	—	—	—	—	—	—	—	—	—	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	-19.4%	—	—	—	—	—	-47.7%	—	—	—
Cash Reconciliation net Change In Cash	—	—	—	—	—	—	—	—	—	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	+48.1%	+48.4%	+46.3%	+45.4%	+46.7%	+45.0%	+46.8%	+47.0%	+45.9%	+45.9%
Operating margin	+13.0%	+14.9%	+10.5%	+9.2%	+17.4%	+14.6%	+15.4%	+14.5%	+8.7%	+2.2%
Net margin	+7.8%	+10.6%	+6.5%	+8.0%	+14.9%	+11.3%	+12.1%	+10.0%	+0.5%	-3.8%
FCF margin	+15.4%	+19.2%	-2.0%	+7.1%	+17.9%	+20.1%	+13.9%	+17.1%	+11.5%	+8.5%
Growth
Revenue CAGR (3y)	-2.3%	-4.0%	+1.0%	+8.8%	+10.1%	+6.1%	+7.9%	+4.9%	+30.6%	—
Returns
ROE	+11.7%	+14.7%	+9.7%	+16.9%	+28.0%	+23.5%	+29.6%	+31.5%	+2.0%	-17.3%
ROA	+4.9%	+6.6%	+4.1%	+6.1%	+13.5%	+9.4%	+11.5%	+9.7%	+0.4%	-3.0%
ROIC	+8.8%	+12.7%	+8.3%	+9.7%	+23.2%	+18.2%	+20.4%	+17.0%	+2.1%	+2.4%
Liquidity
Current ratio	0.97x	1.43x	1.05x	0.81x	0.94x	0.69x	0.85x	0.89x	1.06x	1.29x
Quick ratio	0.50x	0.93x	0.41x	0.37x	0.60x	0.37x	0.46x	0.43x	0.54x	0.82x
Leverage
D/E	1.37x	1.22x	1.41x	1.75x	1.08x	1.51x	1.56x	2.25x	4.13x	4.85x
Interest coverage	—	—	—	—	—	—	7.78x	6.70x	1.42x	0.41x
Efficiency
Asset turnover	0.63x	0.63x	0.63x	0.77x	0.91x	0.83x	0.95x	0.97x	0.87x	0.77x
Cash conversion cycle	+59d	+59d	+93d	+54d	+23d	+28d	+38d	+40d	+53d	+51d

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No multiples without a share count — this filer reports no diluted or basic weighted-average shares.

Notes

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