Financials · ZBRA

Zebra Technologies Corporation (ZBRA) financials

For the twelve months ended Oct 3, 2026, Zebra Technologies Corporation reported $6.14B of revenue and $602.00M of net income.

Revenue, TTM
$6.14B
Revenue growth, YoY
+16.9%
Net income, TTM
$602.00M
Net income growth, YoY
+17.6%
Net margin
9.8%
Free cash flow, TTM
$988.00M
EPS, diluted, TTM
$12.40
EPS growth, YoY
+25.0%
Cash
$182.00M
Total debt
$2.57B
P/E
25.55
P/S
2.51
Market cap
$15.38B
Annual revenue$5.40B
FY2016FY2025
Annual net income$419.00M
FY2016FY2025
Annual free cash flow$831.00M
FY2016FY2025

ZBRA revenue and earnings growth

ZBRA revenueQ3 2026$1.61B

Quarter YoY
+22.3%
QoQ
+3.7%
FY YoY
+8.3%
5Y CAGR
+3.9%
10Y CAGR
+4.0%

ZBRA revenue was $1.61B in fiscal Q3 2026 (ended Oct 3, 2026), up 22.3% from a year earlier and up 3.7% from the prior quarter. For the full fiscal 2025 it was $5.40B, up 8.3% from fiscal 2024. Compound annual growth was +3.9% over 5 years and +4.0% over 10 years. It rose in 7 of the last 10 fiscal years.

ZBRA net incomeQ3 2026$164.00M

Quarter YoY
+62.4%
QoQ
-29.6%
FY YoY
-20.6%
5Y CAGR
-3.6%

ZBRA net income was $164.00M in fiscal Q3 2026 (ended Oct 3, 2026), up 62.4% from a year earlier and down 29.6% from the prior quarter. For the full fiscal 2025 it was $419.00M, down 20.6% from fiscal 2024. Compound annual growth was -3.6% over 5 years. It rose in 4 of the last 8 fiscal years.

ZBRA EPSQ3 2026$3.43

Quarter YoY
+74.1%
QoQ
-29.3%
FY YoY
-19.6%
5Y CAGR
-2.6%

ZBRA diluted EPS was $3.43 in fiscal Q3 2026 (ended Oct 3, 2026), up 74.1% from a year earlier and down 29.3% from the prior quarter. For the full fiscal 2025 it was $8.18, down 19.6% from fiscal 2024. Compound annual growth was -2.6% over 5 years.

ZBRA free cash flowQ3 2026$300.00M

Quarter YoY
+38.9%
QoQ
+51.5%
FY YoY
-12.9%
5Y CAGR
-1.5%

ZBRA free cash flow was $300.00M in fiscal Q3 2026 (ended Oct 3, 2026), up 38.9% from a year earlier and up 51.5% from the prior quarter. For the full fiscal 2025 it was $831.00M, down 12.9% from fiscal 2024. Compound annual growth was -1.5% over 5 years.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$5.40B$4.98B$4.58B$5.78B$5.63B$4.45B$4.49B$4.22B$3.72B$3.57B
Cost of revenue$2.80B$2.57B$2.46B$3.16B$3.00B$2.44B$2.38B$2.24B$2.01B$1.93B
Gross profit$2.59B$2.41B$2.12B$2.62B$2.63B$2.00B$2.10B$1.98B$1.71B$1.64B
Research and development$593.00M$563.00M$519.00M$570.00M$567.00M$453.00M$447.00M$444.00M$389.00M$376.00M
Selling, general and admin$433.00M$381.00M$334.00M$375.00M$348.00M$304.00M$323.00M$328.00M$301.00M$307.00M
Operating income$700.00M$742.00M$481.00M$529.00M$979.00M$651.00M$692.00M$610.00M$322.00M$80.00M
Interest expense----$5.00M$76.00M$89.00M$91.00M$227.00M$193.00M
Pre-tax income$560.00M$635.00M$334.00M$544.00M$968.00M$560.00M$598.00M$524.00M$88.00M-$129.00M
Income tax$141.00M$107.00M$38.00M$81.00M$131.00M$56.00M$54.00M$103.00M$71.00M$8.00M
Net income$419.00M$528.00M$296.00M$463.00M$837.00M$504.00M$544.00M$421.00M$17.00M-$137.00M
EPS, basic$8.24$10.25$5.75$8.86$15.66$9.43$10.08$7.86$0.33-$2.65
EPS, diluted$8.18$10.18$5.72$8.80$15.52$9.35$9.97$7.76$0.32-$2.65
Diluted shares51.2M51.9M51.7M52.6M53.9M53.9M54.6M54.3M53.7M51.6M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$125.00M$901.00M$137.00M$117.00M$344.00M$192.00M$30.00M$44.00M$62.00M$156.00M
Receivables$801.00M$692.00M$521.00M$768.00M$752.00M$508.00M$613.00M$520.00M$479.00M$625.00M
Inventory$729.00M$693.00M$804.00M$860.00M$491.00M$511.00M$474.00M$520.00M$458.00M$345.00M
Current assets$1.80B$2.44B$1.67B$1.88B$1.69B$1.27B$1.20B$1.16B$1.06B$1.22B
Goodwill$4.73B$3.89B$3.90B$3.90B$3.27B$2.99B$2.62B$2.50B$2.46B$2.46B
Total assets$8.50B$7.97B$7.31B$7.53B$6.21B$5.38B$4.71B$4.34B$4.28B$4.63B
Current liabilities$1.85B$1.70B$1.60B$2.33B$1.80B$1.85B$1.40B$1.30B$1.00B$949.00M
Short-term debt$141.00M$79.00M$173.00M$214.00M$69.00M$364.00M$197.00M$157.00M$51.00M$0
Long-term debt$2.36B$2.09B$2.05B$1.81B$922.00M$881.00M$1.08B$1.43B$2.18B$2.65B
Total debt$2.50B$2.17B$2.22B$2.02B$991.00M$1.25B$1.28B$1.59B$2.23B$2.65B
Total liabilities$4.91B$4.38B$4.27B$4.80B$3.23B$3.23B$2.87B$3.00B$3.44B$3.84B
Shareholders' equity$3.59B$3.59B$3.04B$2.73B$2.98B$2.14B$1.84B$1.33B$834.00M$792.00M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$917.00M$1.01B-$4.00M$488.00M$1.07B$962.00M$685.00M$785.00M$478.00M$380.00M
Capital expenditures$86.00M$59.00M$87.00M$75.00M$59.00M$67.00M$61.00M$64.00M$50.00M$77.00M
Free cash flow$831.00M$954.00M-$91.00M$413.00M$1.01B$895.00M$624.00M$721.00M$428.00M$303.00M
Investing cash flow-$1.46B-$57.00M-$92.00M-$968.00M-$546.00M-$641.00M-$335.00M-$137.00M-$51.00M-$39.00M
Financing cash flow-$239.00M-$190.00M$117.00M$253.00M-$371.00M-$157.00M-$365.00M-$661.00M-$517.00M-$384.00M
Share repurchases$587.00M$47.00M$52.00M$751.00M$57.00M$200.00M$47.00M$0$0-
Stock-based compensation$163.00M$89.00M$55.00M$88.00M$76.00M$51.00M$48.00M$45.00M$35.00M$27.00M
Depreciation and amortization$185.00M$172.00M$176.00M$204.00M$187.00M$146.00M$175.00M$175.00M$263.00M$304.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY8.3%8.7%-20.7%2.7%26.5%-0.8%6.3%13.3%4.1%-2.1%
Net income growth, YoY-20.6%78.4%-36.1%-44.7%66.1%-7.4%29.2%2376.5%--
EPS growth, YoY-19.6%78.0%-35.0%-43.3%66.0%-6.2%28.5%2325.0%--
Gross margin48.1%48.4%46.3%45.4%46.7%45.0%46.8%47.0%45.9%45.9%
Operating margin13.0%14.9%10.5%9.2%17.4%14.6%15.4%14.5%8.7%2.2%
Net margin7.8%10.6%6.5%8.0%14.9%11.3%12.1%10.0%0.5%-3.8%
Free cash flow margin15.4%19.2%-2.0%7.1%17.9%20.1%13.9%17.1%11.5%8.5%
Return on equity11.7%14.7%9.7%16.9%28.0%23.5%29.6%31.5%2.0%-17.3%
Return on assets4.9%6.6%4.1%6.1%13.5%9.4%11.5%9.7%0.4%-3.0%
Current ratio0.971.431.050.810.940.690.850.891.061.29
Debt to equity0.700.610.730.740.330.580.691.192.673.34

Source: XBRL data Zebra Technologies Corporation files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ZBRA peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ZBRA$6.14B+16.9%$602.00M9.8%$15.38B
ASML€32.67B+15.6%€9.61B29.4%$583.23B
LRCX$26.13B+33.4%$8.45B32.3%$276.45B
TMO$47.35B+8.3%$7.07B14.9%$267.38B
DE$47.98B+8.0%$4.87B10.2%$186.39B
DHR$25.61B+5.5%$4.33B16.9%$165.41B
ETN$31.98B+20.1%$3.90B12.2%$139.59B
JCI$24.43B+5.1%$3.53B14.5%$85.71B
ITW$16.65B+4.8%$3.23B19.4%$81.49B

ZBRA FAQ

9 questions
  • What is ZBRA revenue?
    Zebra Technologies Corporation (ZBRA) reported $6.14B of revenue for the twelve months ended Oct 3, 2026. That is up 16.9% from the year before. Revenue for fiscal 2025 was $5.40B.
  • Is ZBRA profitable?
    Yes. Zebra Technologies Corporation earned $602.00M in net income for the twelve months ended Oct 3, 2026, a net margin of 9.8%.
  • How much cash and debt does ZBRA have?
    Zebra Technologies Corporation reported $182.00M in cash and cash equivalents and $2.57B of debt on its most recent balance sheet in SEC filings.
  • How fast is ZBRA revenue growing?
    Zebra Technologies Corporation's revenue changed +8.3% in fiscal 2025, to $5.40B. Its compound annual growth rate was +3.9% over 5 years and +4.0% over 10 years.
  • What is ZBRA gross margin?
    Zebra Technologies Corporation's gross profit was $3.00B on $6.14B of revenue for the twelve months ended Oct 3, 2026, a gross margin of 48.9%.
  • What is ZBRA free cash flow?
    Zebra Technologies Corporation generated $988.00M of free cash flow for the twelve months ended Oct 3, 2026, which is operating cash flow of $1.07B less capital expenditures.
  • What is ZBRA earnings per share?
    Diluted earnings per share were $12.40 for the twelve months ended Oct 3, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ZBRA last report financial results?
    The latest statements here come from Zebra Technologies Corporation's 10-Q filed on Nov 3, 2026, covering the period ended Oct 3, 2026.
  • Where does this ZBRA financial data come from?
    Quantisnow builds these statements from the structured XBRL data Zebra Technologies Corporation files with the SEC. It is provided for information only and is not investment advice.