Zebra Technologies (ZBRA) Financials

$292.49 +1.69 (+0.58%)

Closing price 05/29/2025 04:00 PM Eastern

Extended Trading

$299.25 +6.76 (+2.31%)

As of 04:02 AM Eastern

Annual Income Statements for Zebra Technologies

This table shows Zebra Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	528	296	463	837	504	544	421	3,437	-137	-158
Consolidated Net Income / (Loss)	528	296	463	837	504	544	421	17	-137	-158
Net Income / (Loss) Continuing Operations	528	296	463	837	504	544	421	3,437	-137	-158
Total Pre-Tax Income	635	334	544	968	560	598	524	88	-129	-180
Total Operating Income	742	481	529	979	651	692	610	322	80	37
Total Gross Profit	2,413	2,123	2,624	2,628	2,003	2,100	1,981	3,420	1,642	1,644
Total Revenue	4,981	4,584	5,781	5,627	4,448	4,485	4,218	7,444	3,574	3,650
Operating Revenue	4,981	4,584	5,781	5,627	4,448	4,485	4,218	7,444	3,574	3,650
Total Cost of Revenue	2,568	2,461	3,157	2,999	2,445	2,385	2,237	4,024	1,932	2,006
Operating Cost of Revenue	2,568	2,461	3,157	2,999	2,445	2,385	2,237	4,024	1,932	2,006
Total Operating Expenses	1,671	1,642	2,095	1,649	1,352	1,408	1,371	-322	1,562	1,607
Selling, General & Admin Expense	381	334	375	348	304	323	328	301	307	283
Marketing Expense	600	581	607	587	483	503	483	448	444	494
Research & Development Expense	563	519	570	567	453	447	444	389	376	394
Amortization Expense	104	104	136	115	78	103	97	184	229	251
Restructuring Charge	23	104	35	32	34	32	19	66	144	185
Other Special Charges / (Income)	0.00	0.00	372	0.00	-	-	-	-	-	-
Total Other Income / (Expense), net	-107	-147	15	-11	-91	-94	-86	-234	-209	-217
Interest & Investment Income	-98	-133	23	-5.00	-76	-	-	-	-	-
Other Income / (Expense), net	-9.00	-14	-8.00	-6.00	-15	-5.00	5.00	-7.00	-16	-24
Income Tax Expense	107	38	81	131	56	54	103	71	8.00	-22
Basic Earnings per Share	$10.25	$5.75	$8.86	$15.66	$9.43	$10.08	$7.86	$0.33	($2.65)	($3.10)
Weighted Average Basic Shares Outstanding	51.38M	51.38M	51.40M	53.08M	53.47M	54.01M	53.59M	53.02M	51.70M	51.00M
Diluted Earnings per Share	$10.18	$5.72	$8.80	$15.52	$9.35	$9.97	$7.76	$0.32	($2.65)	($3.10)
Weighted Average Diluted Shares Outstanding	51.38M	51.38M	51.40M	53.08M	53.47M	54.01M	53.59M	53.02M	51.70M	51.00M
Weighted Average Basic & Diluted Shares Outstanding	51.38M	51.38M	51.40M	53.08M	53.47M	54.01M	53.59M	53.02M	51.70M	51M

This table shows Zebra Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/31/2024	9/28/2024	6/29/2024	3/30/2024	12/31/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Net Income / (Loss) Attributable to Common Shareholders	136	163	137	113	115	17	-15	144	150	186	170
Consolidated Net Income / (Loss)	136	163	137	113	115	17	-15	144	150	186	170
Net Income / (Loss) Continuing Operations	136	163	137	113	115	17	-15	144	150	186	170
Total Pre-Tax Income	165	208	149	136	142	2.00	-24	171	185	225	222
Total Operating Income	195	225	191	167	159	74	-12	194	225	260	202
Total Gross Profit	645	648	613	589	563	448	427	581	667	685	628
Total Revenue	1,308	1,334	1,255	1,217	1,175	1,009	956	1,214	1,405	1,503	1,378
Operating Revenue	1,308	1,334	1,255	1,217	1,175	1,009	956	1,214	1,405	1,503	1,378
Total Cost of Revenue	663	686	642	628	612	561	529	633	738	818	750
Operating Cost of Revenue	663	686	642	628	612	561	529	633	738	818	750
Total Operating Expenses	450	423	422	422	404	374	439	387	442	425	426
Selling, General & Admin Expense	111	107	96	97	81	78	88	69	99	87	92
Marketing Expense	161	151	151	150	148	136	138	146	161	155	149
Research & Development Expense	151	138	141	146	138	116	127	130	146	142	143
Amortization Expense	24	24	29	25	26	26	26	26	26	29	39
Restructuring Charge	3.00	3.00	5.00	4.00	11	18	60	16	10	12	3.00
Total Other Income / (Expense), net	-30	-17	-42	-31	-17	-72	-12	-23	-40	-35	20
Interest & Investment Income	-23	-	-31	-23	-	-	-16	-16	-	-	-
Other Income / (Expense), net	-7.00	10	-11	-8.00	0.00	-8.00	4.00	-7.00	-3.00	-10	-1.00
Income Tax Expense	29	45	12	23	27	-15	-9.00	27	35	39	52
Basic Earnings per Share	$2.64	$3.17	$2.65	$2.19	$2.24	$0.31	($0.28)	$2.80	$2.92	$3.59	$3.28
Weighted Average Basic Shares Outstanding	50.85M	51.38M	51.58M	51.58M	51.42M	51.38M	51.36M	51.34M	51.43M	51.40M	51.63M
Diluted Earnings per Share	$2.62	$3.14	$2.64	$2.17	$2.23	$0.32	($0.28)	$2.78	$2.90	$3.58	$3.26
Weighted Average Diluted Shares Outstanding	50.85M	51.38M	51.58M	51.58M	51.42M	51.38M	51.36M	51.34M	51.43M	51.40M	51.63M
Weighted Average Basic & Diluted Shares Outstanding	50.85M	51.38M	51.58M	51.58M	51.42M	51.38M	51.36M	51.34M	51.43M	51.40M	51.63M

This table details how cash moves in and out of Zebra Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	763	21	-227	152	162	-14	-18	-94	-36	-202
Net Cash From Operating Activities	1,013	-4.00	488	1,069	962	685	785	478	380	122
Net Cash From Continuing Operating Activities	1,013	-4.00	488	1,069	962	685	785	478	380	122
Net Income / (Loss) Continuing Operations	528	296	463	837	504	544	421	17	-137	-158
Consolidated Net Income / (Loss)	528	296	463	837	504	544	421	17	-137	-158
Depreciation Expense	172	176	204	187	146	175	175	263	304	320
Non-Cash Adjustments To Reconcile Net Income	89	55	88	76	51	48	45	101	96	31
Changes in Operating Assets and Liabilities, net	224	-531	-267	-31	258	-88	129	59	94	-87
Net Cash From Investing Activities	-57	-92	-968	-546	-641	-335	-137	-51	-39	-148
Net Cash From Continuing Investing Activities	-57	-92	-968	-546	-641	-335	-137	-51	-39	-148
Purchase of Property, Plant & Equipment	-59	-87	-75	-59	-67	-61	-64	-50	-77	-122
Acquisitions	0.00	0.00	-881	-452	-548	-262	-72	0.00	0.00	-52
Purchase of Investments	-3.00	-1.00	-12	-35	-32	-22	-3.00	-1.00	-1.00	-2.00
Sale and/or Maturity of Investments	5.00	-4.00	0.00	-	6.00	10	2.00	0.00	0.00	28
Net Cash From Financing Activities	-190	117	253	-371	-157	-365	-661	-517	-384	-161
Net Cash From Continuing Financing Activities	-190	117	253	-371	-157	-365	-661	-517	-384	-161
Repayment of Debt	-703	-245	-255	-303	-343	-956	-1,569	-1,895	-489	-165
Repurchase of Common Equity	-47	-52	-751	-57	-200	-47	0.00	0.00	-	-
Issuance of Debt	651	440	1,284	46	302	637	909	1,371	102	0.00
Other Financing Activities, net	-91	-26	-25	-57	84	1.00	-1.00	7.00	-8.00	-13
Effect of Exchange Rate Changes	-3.00	-	0.00	-	-	1.00	-	-	7.00	-15
Cash Interest Paid	55	111	58	32	38	63	90	195	180	183
Cash Income Taxes Paid	124	252	168	199	107	140	76	65	81	38

This table details how cash moves in and out of Zebra Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/31/2024	9/28/2024	6/29/2024	3/30/2024	12/31/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Net Change in Cash & Equivalents	-22	225	265	284	-11	77	-7.00	-25	-24	25	-6.00
Net Cash From Operating Activities	178	306	294	288	125	141	-35	-34	-76	267	67
Net Cash From Continuing Operating Activities	178	306	294	288	125	141	-35	-34	-76	267	67
Net Income / (Loss) Continuing Operations	136	163	137	113	115	17	-15	144	150	186	170
Consolidated Net Income / (Loss)	136	163	137	113	115	17	-15	144	150	186	170
Depreciation Expense	41	42	45	42	43	44	44	44	44	46	55
Non-Cash Adjustments To Reconcile Net Income	51	21	20	31	17	16	19	2.00	18	18	28
Changes in Operating Assets and Liabilities, net	-50	80	92	102	-50	64	-83	-224	-288	17	-186
Net Cash From Investing Activities	-82	-15	-17	-14	-11	-43	-14	-18	-17	-27	-29
Net Cash From Continuing Investing Activities	-82	-15	-17	-14	-11	-43	-14	-18	-17	-27	-29
Purchase of Property, Plant & Equipment	-20	-18	-17	-10	-14	-39	-14	-18	-16	-24	-20
Acquisitions	-62	-	-	-	-	-	-	-	-	-3.00	-3.00
Sale and/or Maturity of Investments	0.00	3.00	-	-1.00	3.00	-4.00	-	-	0.00	-	-
Net Cash From Financing Activities	-119	-63	-12	9.00	-124	-23	43	27	70	-217	-48
Net Cash From Continuing Financing Activities	-119	-63	-12	9.00	-124	-23	43	27	70	-217	-48
Repayment of Debt	5.00	-3.00	1.00	-420	-281	-24	-38	-64	-119	-37	-91
Repurchase of Common Equity	-125	-31	-16	-	0.00	-	-	-37	-15	-96	-50
Issuance of Debt	0.00	-	-	500	151	-29	101	177	191	-101	91
Other Financing Activities, net	1.00	-29	3.00	-71	6.00	30	-20	-49	13	17	2.00
Effect of Exchange Rate Changes	1.00	-3.00	-	1.00	-1.00	-	-1.00	-	-	-	-
Cash Interest Paid	16	52	20	-47	30	31	30	26	24	24	19
Cash Income Taxes Paid	9.00	34	47	40	3.00	25	15	158	54	16	32

This table presents Zebra Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	7,968	7,306	7,529	6,215	5,375	4,711	4,339	4,275	4,632	5,040
Total Current Assets	2,440	1,672	1,883	1,689	1,273	1,195	1,162	1,063	1,222	1,334
Cash & Equivalents	901	137	105	332	168	30	44	62	156	192
Accounts Receivable	692	521	768	752	508	613	520	479	625	671
Inventories, net	693	804	860	491	511	474	520	458	345	397
Prepaid Expenses	134	147	124	106	70	46	54	24	64	70
Current Deferred & Refundable Income Taxes	20	63	26	8.00	16	32	24	40	32	4.00
Plant, Property, & Equipment, net	305	309	278	272	274	259	249	264	292	298
Total Noncurrent Assets	5,223	5,325	5,368	4,254	3,828	3,257	2,928	2,948	3,118	3,408
Goodwill	3,891	3,895	3,899	3,265	2,988	2,622	2,495	2,465	2,458	2,490
Intangible Assets	422	527	630	469	402	275	232	299	480	757
Noncurrent Deferred & Refundable Income Taxes	512	438	407	192	139	127	114	119	113	70
Other Noncurrent Operating Assets	398	465	432	328	299	233	87	65	67	91
Total Liabilities & Shareholders' Equity	7,968	7,306	7,529	6,215	5,375	4,711	4,339	4,275	4,632	5,040
Total Liabilities	4,382	4,270	4,796	3,231	3,231	2,872	3,004	3,441	3,840	4,147
Total Current Liabilities	1,704	1,598	2,332	1,800	1,851	1,404	1,301	1,000	949	895
Short-Term Debt	79	173	214	69	364	197	157	51	0.00	-
Accounts Payable	633	456	811	700	601	552	552	424	413	289
Accrued Expenses	503	504	744	639	559	379	322	296	323	367
Current Deferred Revenue	453	458	425	380	308	238	210	186	191	197
Current Deferred & Payable Income Tax Liabilities	36	7.00	138	12	19	38	60	43	22	42
Total Noncurrent Liabilities	2,678	2,672	2,464	1,431	1,380	1,468	1,703	2,441	2,891	3,252
Long-Term Debt	2,092	2,047	1,809	922	881	1,080	1,434	2,176	2,648	3,012
Noncurrent Deferred Revenue	304	312	333	315	273	221	172	148	124	124
Noncurrent Deferred & Payable Income Tax Liabilities	57	67	75	6.00	0.00	-	8.00	0.00	3.00	1.00
Other Noncurrent Operating Liabilities	225	246	247	188	226	167	89	117	116	115
Total Equity & Noncontrolling Interests	3,586	3,036	2,733	2,984	2,144	1,839	1,335	834	792	893
Total Preferred & Common Equity	3,586	3,036	2,733	2,984	2,144	1,839	1,335	834	792	893
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,586	3,036	2,733	2,984	2,144	1,839	1,335	834	792	893
Common Stock	670	616	562	463	396	340	295	258	211	195
Retained Earnings	4,860	4,332	4,036	3,573	2,736	2,232	1,688	1,248	1,240	1,377
Treasury Stock	-1,900	-1,858	-1,799	-1,023	-919	-689	-613	-620	-614	-631
Accumulated Other Comprehensive Income / (Loss)	-44	-54	-66	-29	-69	-44	-35	-52	-45	-48

This table presents Zebra Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/31/2024	9/28/2024	6/29/2024	3/30/2024	12/31/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Total Assets	7,899	7,968	7,690	7,490	7,259	7,306	7,331	7,456	7,474	7,529	7,448
Total Current Assets	2,291	2,440	2,133	1,953	1,627	1,672	1,652	1,753	1,818	1,883	1,871
Cash & Equivalents	879	901	676	411	127	137	61	68	85	105	81
Accounts Receivable	617	692	642	701	599	521	538	663	736	768	804
Inventories, net	681	693	639	678	705	804	848	864	835	860	814
Prepaid Expenses	94	134	109	122	160	147	162	138	140	124	161
Current Deferred & Refundable Income Taxes	20	20	67	41	36	63	43	20	22	26	11
Plant, Property, & Equipment, net	309	305	302	297	304	309	302	301	280	278	272
Total Noncurrent Assets	5,299	5,223	5,255	5,240	5,328	5,325	5,377	5,402	5,376	5,368	5,305
Goodwill	3,927	3,891	3,895	3,894	3,894	3,895	3,893	3,895	3,895	3,899	3,891
Intangible Assets	423	422	447	476	501	527	552	578	604	630	659
Noncurrent Deferred & Refundable Income Taxes	545	512	501	469	455	438	438	441	432	407	304
Other Noncurrent Operating Assets	404	398	412	401	478	465	494	488	445	432	451
Total Liabilities & Shareholders' Equity	7,899	7,968	7,690	7,490	7,259	7,306	7,331	7,456	7,474	7,529	7,448
Total Liabilities	4,273	4,382	4,269	4,203	4,090	4,270	4,318	4,464	4,583	4,796	4,791
Total Current Liabilities	1,581	1,704	1,562	1,522	1,643	1,598	1,562	1,770	2,074	2,332	2,073
Short-Term Debt	69	79	89	89	272	173	152	166	215	214	144
Accounts Payable	559	633	533	551	467	456	433	562	602	811	835
Accrued Expenses	411	503	490	426	437	504	528	583	671	744	675
Current Deferred Revenue	464	453	432	447	456	458	428	443	447	425	401
Current Deferred & Payable Income Tax Liabilities	78	36	18	9.00	11	7.00	21	16	139	138	18
Total Noncurrent Liabilities	2,692	2,678	2,707	2,681	2,447	2,672	2,756	2,694	2,509	2,464	2,718
Long-Term Debt	2,103	2,092	2,080	2,080	1,815	2,047	2,121	2,042	1,880	1,809	2,017
Noncurrent Deferred Revenue	309	304	304	298	304	312	318	331	333	333	323
Noncurrent Deferred & Payable Income Tax Liabilities	57	57	66	66	66	67	75	75	75	75	78
Other Noncurrent Operating Liabilities	223	225	257	237	262	246	242	246	221	247	300
Total Equity & Noncontrolling Interests	3,626	3,586	3,421	3,287	3,169	3,036	3,013	2,992	2,891	2,733	2,657
Total Preferred & Common Equity	3,626	3,586	3,421	3,287	3,169	3,036	3,013	2,992	2,891	2,733	2,657
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,626	3,586	3,421	3,287	3,169	3,036	3,013	2,992	2,891	2,733	2,657
Common Stock	720	670	654	634	630	616	600	581	585	562	543
Retained Earnings	4,996	4,860	4,697	4,560	4,447	4,332	4,315	4,330	4,186	4,036	3,850
Treasury Stock	-2,025	-1,900	-1,871	-1,855	-1,858	-1,858	-1,858	-1,859	-1,814	-1,799	-
Accumulated Other Comprehensive Income / (Loss)	-65	-44	-59	-52	-50	-54	-44	-60	-66	-66	-34

This table displays calculated financial ratios and metrics derived from Zebra Technologies' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.66%	-20.71%	2.74%	26.51%	-0.83%	6.33%	-43.34%	108.28%	-2.08%	118.43%
EBITDA Growth	40.75%	-11.31%	-37.50%	47.77%	-9.56%	7.83%	30.68%	57.54%	12.03%	115.43%
EBIT Growth	56.96%	-10.36%	-46.45%	52.99%	-7.42%	11.71%	95.24%	392.19%	392.31%	-83.54%
NOPAT Growth	44.74%	-5.32%	-46.81%	44.48%	-6.93%	28.45%	687.88%	11.08%	116.22%	-84.54%
Net Income Growth	78.38%	-36.07%	-44.68%	66.07%	-7.35%	29.22%	2,376.47%	112.41%	13.29%	-593.75%
EPS Growth	77.97%	-35.00%	-43.30%	65.99%	-6.22%	28.48%	2,325.00%	112.08%	14.52%	-592.06%
Operating Cash Flow Growth	25,425.00%	-100.82%	-54.35%	11.12%	40.44%	-12.74%	64.23%	25.79%	211.48%	-58.22%
Free Cash Flow Firm Growth	2,209.00%	92.52%	-231.39%	-5.85%	5.97%	-29.91%	74.85%	-28.41%	411.06%	103.09%
Invested Capital Growth	-5.14%	10.06%	27.67%	13.10%	4.37%	7.08%	-3.90%	-8.68%	-11.55%	-1.82%
Revenue Q/Q Growth	6.98%	-9.73%	0.63%	2.91%	2.68%	1.24%	-46.12%	104.62%	-0.25%	4.58%
EBITDA Q/Q Growth	22.63%	-22.44%	3.42%	0.52%	6.80%	-1.70%	12.90%	-0.48%	18.13%	20.19%
EBIT Q/Q Growth	29.96%	-28.26%	5.89%	-0.21%	6.71%	-0.58%	10.41%	24.02%	3,300.00%	170.67%
NOPAT Q/Q Growth	17.24%	-23.45%	6.57%	-2.76%	6.33%	6.65%	27.26%	-76.08%	433.33%	463.08%
Net Income Q/Q Growth	38.22%	-36.34%	-1.07%	-0.95%	6.33%	11.02%	35.81%	-43.33%	24.31%	13.71%
EPS Q/Q Growth	38.32%	-36.30%	0.46%	-0.96%	6.86%	10.78%	35.90%	-45.76%	24.72%	13.65%
Operating Cash Flow Q/Q Growth	19.46%	-103.28%	7.49%	-15.63%	20.85%	-8.05%	7.83%	41.42%	47.29%	-56.17%
Free Cash Flow Firm Q/Q Growth	5.10%	-160.62%	31.52%	-48.83%	65.75%	-11.03%	14.96%	-7.41%	26.39%	103.00%
Invested Capital Q/Q Growth	-1.18%	-2.03%	-1.82%	4.09%	-6.88%	-2.96%	-6.06%	-6.60%	-1.26%	0.37%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.44%	46.31%	45.39%	46.70%	45.03%	46.82%	46.97%	45.94%	45.94%	45.04%
EBITDA Margin	18.17%	14.03%	12.54%	20.61%	17.65%	19.35%	19.08%	8.28%	10.94%	9.56%
Operating Margin	14.90%	10.49%	9.15%	17.40%	14.64%	15.43%	14.46%	4.33%	2.24%	1.01%
EBIT Margin	14.72%	10.19%	9.01%	17.29%	14.30%	15.32%	14.58%	4.23%	1.79%	0.36%
Profit (Net Income) Margin	10.60%	6.46%	8.01%	14.87%	11.33%	12.13%	9.98%	0.23%	-3.83%	-4.33%
Tax Burden Percent	83.15%	88.62%	85.11%	86.47%	90.00%	90.97%	80.34%	19.32%	106.20%	87.78%
Interest Burden Percent	86.63%	71.52%	104.41%	99.49%	88.05%	87.05%	85.20%	27.94%	-201.56%	-1,384.62%
Effective Tax Rate	16.85%	11.38%	14.89%	13.53%	10.00%	9.03%	19.66%	80.68%	0.00%	0.00%
Return on Invested Capital (ROIC)	12.37%	8.73%	10.86%	24.67%	18.58%	21.10%	16.67%	1.98%	1.60%	0.69%
ROIC Less NNEP Spread (ROIC-NNEP)	7.06%	2.21%	11.85%	23.57%	11.53%	14.98%	12.94%	0.04%	-5.67%	-5.92%
Return on Net Nonoperating Assets (RNNOA)	3.58%	1.54%	5.34%	7.98%	6.73%	13.18%	22.15%	0.11%	-17.86%	-17.04%
Return on Equity (ROE)	15.95%	10.26%	16.20%	32.64%	25.31%	34.28%	38.82%	2.09%	-16.26%	-16.35%
Cash Return on Invested Capital (CROIC)	17.64%	-0.85%	-13.45%	12.37%	14.30%	14.26%	20.65%	11.05%	13.86%	2.53%
Operating Return on Assets (OROA)	9.60%	6.30%	7.58%	16.79%	12.61%	15.18%	14.28%	7.07%	1.32%	0.25%
Return on Assets (ROA)	6.91%	3.99%	6.74%	14.44%	9.99%	12.02%	9.77%	0.38%	-2.83%	-2.99%
Return on Common Equity (ROCE)	15.95%	10.26%	16.20%	32.64%	25.31%	34.28%	38.82%	2.09%	-16.26%	-16.35%
Return on Equity Simple (ROE_SIMPLE)	14.72%	9.75%	16.94%	28.05%	23.51%	29.58%	31.54%	2.04%	-17.30%	-17.69%
Net Operating Profit after Tax (NOPAT)	617	426	450	847	586	630	490	62	56	26
NOPAT Margin	12.39%	9.30%	7.79%	15.04%	13.17%	14.04%	11.62%	0.84%	1.57%	0.71%
Net Nonoperating Expense Percent (NNEP)	5.31%	6.51%	-0.99%	1.10%	7.05%	6.12%	3.72%	1.94%	7.27%	6.61%
Return On Investment Capital (ROIC_SIMPLE)	10.72%	8.11%	9.47%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	51.56%	53.69%	54.61%	53.30%	54.97%	53.18%	53.03%	54.06%	54.06%	54.96%
SG&A Expenses to Revenue	7.65%	7.29%	6.49%	6.18%	6.83%	7.20%	7.78%	4.04%	8.59%	7.75%
R&D to Revenue	11.30%	11.32%	9.86%	10.08%	10.18%	9.97%	10.53%	5.23%	10.52%	10.79%
Operating Expenses to Revenue	33.55%	35.82%	36.24%	29.31%	30.40%	31.39%	32.50%	-4.33%	43.70%	44.03%
Earnings before Interest and Taxes (EBIT)	733	467	521	973	636	687	615	315	64	13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	905	643	725	1,160	785	868	805	616	391	349
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.56	4.62	4.84	10.66	9.56	7.49	6.42	6.62	5.72	4.06
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.00	3.06	2.29	5.65	4.61	3.07	2.03	0.74	1.27	0.99
Price to Earnings (P/E)	37.73	47.43	28.59	38.00	40.66	25.32	20.35	1.61	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.65%	2.11%	3.50%	2.63%	2.46%	3.95%	4.91%	62.25%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	4.36	3.15	3.26	8.91	6.70	4.87	3.51	2.56	2.14	1.74
Enterprise Value to Revenue (EV/Rev)	4.25	3.52	2.62	5.77	4.85	3.35	2.40	1.03	1.96	1.77
Enterprise Value to EBITDA (EV/EBITDA)	23.42	25.07	20.91	27.99	27.48	17.31	12.56	12.48	17.95	18.48
Enterprise Value to EBIT (EV/EBIT)	28.91	34.52	29.09	33.37	33.91	21.86	16.45	24.40	109.67	496.06
Enterprise Value to NOPAT (EV/NOPAT)	34.35	37.82	33.66	38.35	36.81	23.86	20.64	123.56	125.34	248.99
Enterprise Value to Operating Cash Flow (EV/OCF)	20.92	0.00	31.06	30.37	22.42	21.93	12.88	16.08	18.47	52.86
Enterprise Value to Free Cash Flow (EV/FCFF)	24.08	0.00	0.00	76.48	47.83	35.30	16.66	22.14	14.47	67.95
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.61	0.73	0.74	0.33	0.58	0.69	1.19	2.67	3.34	3.37
Long-Term Debt to Equity	0.58	0.67	0.66	0.31	0.41	0.59	1.07	2.61	3.34	3.37
Financial Leverage	0.51	0.69	0.45	0.34	0.58	0.88	1.71	2.86	3.15	2.88
Leverage Ratio	2.31	2.57	2.40	2.26	2.53	2.85	3.97	5.48	5.74	5.47
Compound Leverage Factor	2.00	1.84	2.51	2.25	2.23	2.48	3.38	1.53	-11.57	-75.78
Debt to Total Capital	37.71%	42.24%	42.54%	24.93%	36.74%	40.98%	54.37%	72.75%	76.98%	77.13%
Short-Term Debt to Total Capital	1.37%	3.29%	4.50%	1.74%	10.74%	6.32%	5.37%	1.67%	0.00%	0.00%
Long-Term Debt to Total Capital	36.34%	38.95%	38.04%	23.20%	26.00%	34.66%	49.01%	71.09%	76.98%	77.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.29%	57.76%	57.46%	75.07%	63.26%	59.02%	45.63%	27.25%	23.02%	22.87%
Debt to EBITDA	2.40	3.45	2.79	0.85	1.59	1.47	1.98	3.62	6.77	8.63
Net Debt to EBITDA	1.40	3.24	2.65	0.57	1.37	1.44	1.92	3.51	6.37	8.08
Long-Term Debt to EBITDA	2.31	3.18	2.50	0.79	1.12	1.24	1.78	3.53	6.77	8.63
Debt to NOPAT	3.52	5.21	4.49	1.17	2.12	2.03	3.25	35.80	47.29	116.29
Net Debt to NOPAT	2.06	4.89	4.26	0.78	1.84	1.98	3.16	34.80	44.50	108.88
Long-Term Debt to NOPAT	3.39	4.80	4.02	1.09	1.50	1.72	2.93	34.98	47.29	116.29
Altman Z-Score	4.62	3.65	3.33	8.11	5.61	4.92	3.66	3.37	1.97	1.74
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.43	1.05	0.81	0.94	0.69	0.85	0.89	1.06	1.29	1.49
Quick Ratio	0.93	0.41	0.37	0.60	0.37	0.46	0.43	0.54	0.82	0.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	880	-42	-558	425	451	426	607	347	485	95
Operating Cash Flow to CapEx	1,716.95%	-4.60%	650.67%	1,811.86%	1,435.82%	1,122.95%	1,226.56%	956.00%	493.51%	100.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	4.78	6.67	1.53	2.51	0.49
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	7.70	8.63	2.11	1.97	0.63
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	7.01	7.92	1.89	1.57	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.62	0.84	0.97	0.88	0.99	0.98	1.67	0.74	0.69
Accounts Receivable Turnover	8.21	7.11	7.61	8.93	7.94	7.92	8.44	13.49	5.52	5.44
Inventory Turnover	3.43	2.96	4.67	5.99	4.96	4.80	4.57	10.02	5.21	5.07
Fixed Asset Turnover	16.22	15.62	21.02	20.61	16.69	17.66	16.44	26.78	12.12	13.20
Accounts Payable Turnover	4.72	3.88	4.18	4.61	4.24	4.32	4.58	9.62	5.50	6.51
Days Sales Outstanding (DSO)	44.44	51.32	47.98	40.87	45.99	46.10	43.22	27.07	66.18	67.10
Days Inventory Outstanding (DIO)	106.39	123.40	78.10	60.98	73.52	76.06	79.79	36.42	70.09	71.96
Days Payable Outstanding (DPO)	77.39	93.96	87.35	79.17	86.06	84.48	79.62	37.96	66.31	56.04
Cash Conversion Cycle (CCC)	73.44	80.76	38.74	22.67	33.45	37.69	43.39	25.52	69.96	83.02
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,856	5,119	4,651	3,643	3,221	3,086	2,882	2,999	3,284	3,713
Invested Capital Turnover	1.00	0.94	1.39	1.64	1.41	1.50	1.43	2.37	1.02	0.97
Increase / (Decrease) in Invested Capital	-263	468	1,008	422	135	204	-117	-285	-429	-69
Enterprise Value (EV)	21,191	16,121	15,156	32,467	21,568	15,021	10,114	7,686	7,019	6,449
Market Capitalization	19,921	14,038	13,238	31,808	20,491	13,774	8,567	5,521	4,527	3,629
Book Value per Share	$69.52	$59.11	$52.93	$55.84	$40.21	$34.11	$24.81	$15.68	$15.00	$17.14
Tangible Book Value per Share	($14.09)	($26.99)	($34.79)	($14.03)	($23.37)	($19.62)	($25.87)	($36.29)	($40.65)	($45.18)
Total Capital	5,757	5,256	4,756	3,975	3,389	3,116	2,926	3,061	3,440	3,905
Total Debt	2,171	2,220	2,023	991	1,245	1,277	1,591	2,227	2,648	3,012
Total Long-Term Debt	2,092	2,047	1,809	922	881	1,080	1,434	2,176	2,648	3,012
Net Debt	1,270	2,083	1,918	659	1,077	1,247	1,547	2,165	2,492	2,820
Capital Expenditures (CapEx)	59	87	75	59	67	61	64	50	77	122
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-86	110	-340	-374	-382	-42	-26	52	117	247
Debt-free Net Working Capital (DFNWC)	815	247	-235	-42	-214	-12	18	114	273	439
Net Working Capital (NWC)	736	74	-449	-111	-578	-209	-139	63	273	439
Net Nonoperating Expense (NNE)	89	130	-13	9.51	82	86	69	45	193	184
Net Nonoperating Obligations (NNO)	1,270	2,083	1,918	659	1,077	1,247	1,547	2,165	2,492	2,820
Total Depreciation and Amortization (D&A)	172	176	204	187	149	181	190	301	327	336
Debt-free, Cash-free Net Working Capital to Revenue	-1.73%	2.40%	-5.88%	-6.65%	-8.59%	-0.94%	-0.62%	0.70%	3.27%	6.77%
Debt-free Net Working Capital to Revenue	16.36%	5.39%	-4.07%	-0.75%	-4.81%	-0.27%	0.43%	1.53%	7.64%	12.03%
Net Working Capital to Revenue	14.78%	1.61%	-7.77%	-1.97%	-12.99%	-4.66%	-3.30%	0.85%	7.64%	12.03%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$10.25	$5.75	$8.86	$15.66	$9.43	$10.08	$7.86	$0.33	($2.65)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	51.38M	51.38M	51.40M	53.08M	53.47M	54.01M	53.87M	53.02M	51.58M	0.00
Adjusted Diluted Earnings per Share	$10.18	$5.72	$8.80	$15.52	$9.35	$9.97	$7.76	$0.32	($2.65)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	51.38M	51.38M	51.40M	53.08M	53.47M	54.01M	53.87M	53.69M	51.58M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	51.38M	51.38M	51.40M	53.08M	53.47M	54.01M	53.87M	53.25M	52.88M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	636	518	797	874	617	659	505	272	200	155
Normalized NOPAT Margin	12.77%	11.31%	13.78%	15.54%	13.86%	14.69%	11.98%	3.65%	5.60%	4.26%
Pre Tax Income Margin	12.75%	7.29%	9.41%	17.20%	12.59%	13.33%	12.42%	1.18%	-3.61%	-4.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	7.72	6.76	1.39	0.33	0.07
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	7.07	5.39	0.27	0.29	0.13
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	7.03	6.05	1.17	-0.07	-0.56
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	6.39	4.68	0.05	-0.11	-0.50
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	8.90%	17.57%	162.20%	6.81%	39.68%	8.64%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Zebra Technologies' official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/31/2024	9/28/2024	6/29/2024	3/30/2024	12/31/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.32%	32.21%	31.28%	0.25%	-16.37%	-32.87%	-30.62%	-17.30%	-1.89%	2.45%	-4.04%
EBITDA Growth	13.37%	151.82%	525.00%	-12.99%	-24.06%	-62.84%	-85.94%	333.33%	-2.21%	8.82%	-8.90%
EBIT Growth	18.24%	256.06%	2,350.00%	-14.97%	-28.38%	-73.60%	-103.98%	224.67%	0.91%	13.12%	-13.73%
NOPAT Growth	24.82%	-71.97%	2,190.68%	-15.06%	-29.42%	192.65%	-105.43%	260.95%	4.94%	14.04%	-25.22%
Net Income Growth	18.26%	858.82%	1,013.33%	-21.53%	-23.33%	-90.86%	-108.82%	246.94%	-26.83%	-2.62%	-14.57%
EPS Growth	17.49%	881.25%	1,042.86%	-21.94%	-23.10%	-91.06%	-108.59%	248.66%	-24.28%	1.13%	-11.65%
Operating Cash Flow Growth	42.40%	117.02%	940.00%	947.06%	264.47%	-47.19%	-152.24%	-134.00%	-240.74%	14.59%	-77.44%
Free Cash Flow Firm Growth	473.60%	172.87%	198.03%	157.50%	88.43%	120.30%	54.14%	72.26%	-136.14%	-239.59%	-752.57%
Invested Capital Growth	-4.09%	-5.14%	-5.95%	-1.70%	4.65%	10.06%	10.30%	12.15%	26.94%	27.67%	35.34%
Revenue Q/Q Growth	-1.95%	6.29%	3.12%	3.57%	16.45%	5.54%	-21.25%	-13.59%	-6.52%	9.07%	-6.13%
EBITDA Q/Q Growth	-17.33%	23.11%	11.94%	-0.50%	83.64%	205.56%	-84.42%	-13.16%	-10.14%	15.63%	358.59%
EBIT Q/Q Growth	-20.00%	30.56%	13.21%	0.00%	140.91%	925.00%	-104.28%	-15.77%	-11.20%	24.38%	234.00%
NOPAT Q/Q Growth	-8.84%	0.40%	26.56%	7.76%	-79.53%	7,588.10%	-105.14%	-10.45%	-15.12%	38.95%	252.40%
Net Income Q/Q Growth	-16.56%	18.98%	21.24%	-1.74%	576.47%	213.33%	-110.42%	-4.00%	-19.35%	9.41%	273.47%
EPS Q/Q Growth	-16.56%	18.94%	21.66%	-2.69%	596.88%	214.29%	-110.07%	-4.14%	-18.99%	9.82%	274.33%
Operating Cash Flow Q/Q Growth	-41.83%	4.08%	2.08%	130.40%	-11.35%	502.86%	-2.94%	55.26%	-128.46%	298.51%	-33.00%
Free Cash Flow Firm Q/Q Growth	-15.61%	-9.72%	115.55%	327.50%	-161.64%	132.43%	-26.43%	54.22%	-8.13%	26.73%	23.54%
Invested Capital Q/Q Growth	1.30%	-1.18%	-2.60%	-1.64%	0.20%	-2.03%	1.81%	4.71%	5.38%	-1.82%	3.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.31%	48.58%	48.84%	48.40%	47.91%	44.40%	44.67%	47.86%	47.47%	45.58%	45.57%
EBITDA Margin	17.51%	20.76%	17.93%	16.52%	17.19%	10.90%	3.77%	19.03%	18.93%	19.69%	18.58%
Operating Margin	14.91%	16.87%	15.22%	13.72%	13.53%	7.33%	-1.26%	15.98%	16.01%	17.30%	14.66%
EBIT Margin	14.37%	17.62%	14.34%	13.06%	13.53%	6.54%	-0.84%	15.40%	15.80%	16.63%	14.59%
Profit (Net Income) Margin	10.40%	12.22%	10.92%	9.29%	9.79%	1.68%	-1.57%	11.86%	10.68%	12.38%	12.34%
Tax Burden Percent	82.42%	78.37%	91.95%	83.09%	80.99%	850.00%	62.50%	84.21%	81.08%	82.67%	76.58%
Interest Burden Percent	87.77%	88.51%	82.78%	85.53%	89.31%	3.03%	300.00%	91.44%	83.33%	90.00%	110.45%
Effective Tax Rate	17.58%	21.63%	8.05%	16.91%	19.01%	-750.00%	0.00%	15.79%	18.92%	17.33%	23.42%
Return on Invested Capital (ROIC)	12.51%	13.20%	12.85%	9.76%	9.51%	58.50%	-0.90%	15.25%	17.05%	19.93%	15.66%
ROIC Less NNEP Spread (ROIC-NNEP)	10.99%	12.41%	10.77%	8.44%	8.82%	27.91%	-1.20%	14.33%	14.87%	17.69%	16.77%
Return on Net Nonoperating Assets (RNNOA)	5.26%	6.28%	6.20%	5.24%	5.78%	19.35%	-0.91%	10.94%	7.60%	7.97%	8.47%
Return on Equity (ROE)	17.77%	19.48%	19.05%	15.00%	15.29%	77.85%	-1.81%	26.19%	24.66%	27.91%	24.13%
Cash Return on Invested Capital (CROIC)	17.10%	17.64%	16.52%	8.56%	2.88%	-0.85%	1.38%	3.24%	-13.20%	-13.45%	-19.78%
Operating Return on Assets (OROA)	9.70%	11.49%	8.89%	7.62%	8.00%	4.04%	-0.58%	11.42%	13.37%	13.99%	12.59%
Return on Assets (ROA)	7.02%	7.97%	6.77%	5.41%	5.78%	1.04%	-1.08%	8.79%	9.03%	10.41%	10.65%
Return on Common Equity (ROCE)	17.77%	19.48%	19.05%	15.00%	15.29%	77.85%	-1.81%	26.19%	24.66%	27.91%	24.13%
Return on Equity Simple (ROE_SIMPLE)	15.14%	0.00%	11.17%	7.00%	8.24%	0.00%	15.43%	21.72%	14.11%	0.00%	17.61%
Net Operating Profit after Tax (NOPAT)	161	176	176	139	129	629	-8.40	163	182	215	155
NOPAT Margin	12.29%	13.22%	13.99%	11.40%	10.96%	62.34%	-0.88%	13.46%	12.98%	14.30%	11.23%
Net Nonoperating Expense Percent (NNEP)	1.52%	0.79%	2.08%	1.32%	0.69%	30.59%	0.31%	0.92%	2.19%	2.25%	-1.11%
Return On Investment Capital (ROIC_SIMPLE)	2.77%	3.06%	-	-	-	11.97%	-	-	-	4.52%	-
Cost of Revenue to Revenue	50.69%	51.42%	51.16%	51.60%	52.09%	55.60%	55.33%	52.14%	52.53%	54.42%	54.43%
SG&A Expenses to Revenue	8.49%	8.02%	7.65%	7.97%	6.89%	7.73%	9.21%	5.68%	7.05%	5.79%	6.68%
R&D to Revenue	11.54%	10.34%	11.24%	12.00%	11.74%	11.50%	13.28%	10.71%	10.39%	9.45%	10.38%
Operating Expenses to Revenue	34.40%	31.71%	33.63%	34.68%	34.38%	37.07%	45.92%	31.88%	31.46%	28.28%	30.91%
Earnings before Interest and Taxes (EBIT)	188	235	180	159	159	66	-8.00	187	222	250	201
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	229	277	225	201	202	110	36	231	266	296	256
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.98	5.56	5.56	4.83	4.89	4.62	4.03	5.09	5.65	4.84	5.11
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.82	4.00	4.08	3.65	3.56	3.06	2.39	2.77	2.84	2.29	2.36
Price to Earnings (P/E)	26.28	37.73	49.77	69.07	59.32	47.43	26.11	23.41	40.07	28.59	28.99
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.81%	2.65%	2.01%	1.45%	1.69%	2.11%	3.83%	4.27%	2.50%	3.50%	3.45%
Enterprise Value to Invested Capital (EV/IC)	3.20	4.36	4.17	3.50	3.40	3.15	2.75	3.38	3.75	3.26	3.30
Enterprise Value to Revenue (EV/Rev)	3.07	4.25	4.40	4.05	4.01	3.52	2.83	3.16	3.19	2.62	2.72
Enterprise Value to EBITDA (EV/EBITDA)	16.87	23.42	27.79	32.14	30.12	25.07	17.32	16.54	25.53	20.91	22.32
Enterprise Value to EBIT (EV/EBIT)	20.63	28.91	36.36	46.92	43.17	34.52	22.05	20.18	35.10	29.09	31.81
Enterprise Value to NOPAT (EV/NOPAT)	24.22	34.35	38.97	50.61	46.86	37.82	25.78	24.34	39.76	33.66	37.04
Enterprise Value to Operating Cash Flow (EV/OCF)	14.75	20.92	24.18	33.99	88.54	0.00	117.66	77.48	51.28	31.06	34.47
Enterprise Value to Free Cash Flow (EV/FCFF)	18.30	24.08	24.49	40.50	120.94	0.00	208.55	110.44	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.60	0.61	0.63	0.66	0.66	0.73	0.75	0.74	0.72	0.74	0.81
Long-Term Debt to Equity	0.58	0.58	0.61	0.63	0.57	0.67	0.70	0.68	0.65	0.66	0.76
Financial Leverage	0.48	0.51	0.58	0.62	0.66	0.69	0.76	0.76	0.51	0.45	0.51
Leverage Ratio	2.23	2.31	2.33	2.38	2.43	2.57	2.61	2.70	2.35	2.40	2.43
Compound Leverage Factor	1.96	2.04	1.93	2.04	2.17	0.08	7.82	2.47	1.96	2.16	2.69
Debt to Total Capital	37.46%	37.71%	38.80%	39.75%	39.71%	42.24%	43.00%	42.46%	42.02%	42.54%	44.85%
Short-Term Debt to Total Capital	1.19%	1.37%	1.59%	1.63%	5.18%	3.29%	2.88%	3.19%	4.31%	4.50%	2.99%
Long-Term Debt to Total Capital	36.27%	36.34%	37.21%	38.12%	34.53%	38.95%	40.12%	39.27%	37.71%	38.04%	41.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.54%	62.29%	61.20%	60.25%	60.29%	57.76%	57.00%	57.54%	57.98%	57.46%	55.15%
Debt to EBITDA	2.33	2.40	2.94	3.95	3.60	3.45	2.74	2.10	2.91	2.79	3.08
Net Debt to EBITDA	1.39	1.40	2.02	3.20	3.39	3.24	2.67	2.04	2.80	2.65	2.97
Long-Term Debt to EBITDA	2.26	2.31	2.82	3.79	3.13	3.18	2.56	1.95	2.61	2.50	2.88
Debt to NOPAT	3.35	3.52	4.12	6.22	5.61	5.21	4.08	3.10	4.54	4.49	5.11
Net Debt to NOPAT	1.99	2.06	2.84	5.04	5.27	4.89	3.97	3.00	4.35	4.26	4.92
Long-Term Debt to NOPAT	3.24	3.39	3.95	5.97	4.88	4.80	3.81	2.86	4.07	4.02	4.77
Altman Z-Score	3.75	4.41	4.30	3.84	3.80	3.47	3.22	3.68	3.75	3.21	3.25
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.45	1.43	1.37	1.28	0.99	1.05	1.06	0.99	0.88	0.81	0.90
Quick Ratio	0.95	0.93	0.84	0.73	0.44	0.41	0.38	0.41	0.40	0.37	0.43
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	371	439	487	226	-99	161	-496	-393	-858	-793	-1,082
Operating Cash Flow to CapEx	890.00%	1,700.00%	1,729.41%	2,880.00%	892.86%	361.54%	-250.00%	-188.89%	-475.00%	1,112.50%	335.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-5.84	0.00	0.00	0.00	-23.18	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	7.35	0.00	0.00	0.00	-2.05	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	6.53	0.00	0.00	0.00	-2.49	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.67	0.65	0.62	0.58	0.59	0.62	0.69	0.74	0.85	0.84	0.86
Accounts Receivable Turnover	8.41	8.21	7.89	6.39	6.52	7.11	7.57	6.93	7.45	7.61	8.11
Inventory Turnover	3.78	3.43	3.29	3.02	3.03	2.96	3.27	3.93	4.75	4.67	5.01
Fixed Asset Turnover	16.69	16.22	15.42	14.57	14.91	15.62	17.69	19.43	20.89	21.02	21.04
Accounts Payable Turnover	5.11	4.72	5.06	4.19	4.37	3.88	4.29	4.23	4.80	4.18	4.34
Days Sales Outstanding (DSO)	43.39	44.44	46.25	57.13	55.96	51.32	48.23	52.69	48.97	47.98	45.01
Days Inventory Outstanding (DIO)	96.58	106.39	111.08	120.78	120.36	123.40	111.59	92.90	76.77	78.10	72.84
Days Payable Outstanding (DPO)	71.49	77.39	72.16	87.18	83.55	93.96	85.14	86.25	76.12	87.35	84.01
Cash Conversion Cycle (CCC)	68.48	73.44	85.17	90.74	92.77	80.76	74.69	59.34	49.62	38.74	33.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,919	4,856	4,914	5,045	5,129	5,119	5,225	5,132	4,901	4,651	4,737
Invested Capital Turnover	1.02	1.00	0.92	0.86	0.87	0.94	1.02	1.13	1.31	1.39	1.39
Increase / (Decrease) in Invested Capital	-210	-263	-311	-87	228	468	488	556	1,040	1,008	1,237
Enterprise Value (EV)	15,720	21,191	20,506	17,643	17,442	16,121	14,355	17,355	18,357	15,156	15,649
Market Capitalization	14,427	19,921	19,013	15,885	15,482	14,038	12,143	15,215	16,347	13,238	13,569
Book Value per Share	$70.57	$69.52	$66.32	$63.93	$61.63	$59.11	$58.69	$58.18	$56.24	$52.93	$51.30
Tangible Book Value per Share	($14.09)	($14.09)	($17.86)	($21.06)	($23.84)	($26.99)	($27.89)	($28.80)	($31.28)	($34.79)	($36.55)
Total Capital	5,798	5,757	5,590	5,456	5,256	5,256	5,286	5,200	4,986	4,756	4,818
Total Debt	2,172	2,171	2,169	2,169	2,087	2,220	2,273	2,208	2,095	2,023	2,161
Total Long-Term Debt	2,103	2,092	2,080	2,080	1,815	2,047	2,121	2,042	1,880	1,809	2,017
Net Debt	1,293	1,270	1,493	1,758	1,960	2,083	2,212	2,140	2,010	1,918	2,080
Capital Expenditures (CapEx)	20	18	17	10	14	39	14	18	16	24	20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-100	-86	-16	109	129	110	181	81	-126	-340	-139
Debt-free Net Working Capital (DFNWC)	779	815	660	520	256	247	242	149	-41	-235	-58
Net Working Capital (NWC)	710	736	571	431	-16	74	90	-17	-256	-449	-202
Net Nonoperating Expense (NNE)	25	13	39	26	14	612	6.60	19	32	29	-15
Net Nonoperating Obligations (NNO)	1,293	1,270	1,493	1,758	1,960	2,083	2,212	2,140	2,010	1,918	2,080
Total Depreciation and Amortization (D&A)	41	42	45	42	43	44	44	44	44	46	55
Debt-free, Cash-free Net Working Capital to Revenue	-1.96%	-1.73%	-0.34%	2.50%	2.96%	2.40%	3.56%	1.47%	-2.19%	-5.88%	-2.42%
Debt-free Net Working Capital to Revenue	15.23%	16.36%	14.18%	11.93%	5.88%	5.39%	4.77%	2.71%	-0.71%	-4.07%	-1.01%
Net Working Capital to Revenue	13.88%	14.78%	12.26%	9.89%	-0.37%	1.61%	1.77%	-0.31%	-4.45%	-7.77%	-3.52%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.64	$3.17	$2.65	$2.19	$2.24	$0.31	($0.28)	$2.80	$2.92	$3.59	$3.28
Adjusted Weighted Average Basic Shares Outstanding	50.85M	51.38M	51.58M	51.58M	51.42M	51.38M	51.36M	51.34M	51.43M	51.40M	51.63M
Adjusted Diluted Earnings per Share	$2.62	$3.14	$2.64	$2.17	$2.23	$0.32	($0.28)	$2.78	$2.90	$3.58	$3.26
Adjusted Weighted Average Diluted Shares Outstanding	50.85M	51.38M	51.58M	51.58M	51.42M	51.38M	51.36M	51.34M	51.43M	51.40M	51.63M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.85M	51.38M	51.58M	51.58M	51.42M	51.38M	51.36M	51.34M	51.43M	51.40M	51.63M
Normalized Net Operating Profit after Tax (NOPAT)	163	179	180	142	138	64	34	177	191	225	157
Normalized NOPAT Margin	12.48%	13.39%	14.36%	11.67%	11.72%	6.38%	3.51%	14.57%	13.56%	14.96%	11.39%
Pre Tax Income Margin	12.61%	15.59%	11.87%	11.18%	12.09%	0.20%	-2.51%	14.09%	13.17%	14.97%	16.11%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	9.35	0.00	0.00	0.00	6.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	7.57	0.00	0.00	0.00	4.93	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	8.53	0.00	0.00	0.00	5.57	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	6.75	0.00	0.00	0.00	4.50	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	31.33%	8.90%	4.19%	0.00%	14.18%	17.57%	31.83%	30.46%	112.99%	162.20%	146.79%

Frequently Asked Questions About Zebra Technologies' Financials

When does Zebra Technologies's fiscal year end?

According to the most recent income statement we have on file, Zebra Technologies' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Zebra Technologies' net income changed over the last 9 years?

Zebra Technologies' net income appears to be on an upward trend, with a most recent value of $528 million in 2024, falling from -$158 million in 2015. The previous period was $296 million in 2023. View Zebra Technologies' forecast to see where analysts expect Zebra Technologies to go next.

What is Zebra Technologies's operating income?

Zebra Technologies's total operating income in 2024 was $742 million, based on the following breakdown:

Total Gross Profit: $2.41 billion
Total Operating Expenses: $1.67 billion

How has Zebra Technologies revenue changed over the last 9 years?

Over the last 9 years, Zebra Technologies' total revenue changed from $3.65 billion in 2015 to $4.98 billion in 2024, a change of 36.5%.

How much debt does Zebra Technologies have?

Zebra Technologies' total liabilities were at $4.38 billion at the end of 2024, a 2.6% increase from 2023, and a 5.7% increase since 2015.

How much cash does Zebra Technologies have?

In the past 9 years, Zebra Technologies' cash and equivalents has ranged from $30 million in 2019 to $901 million in 2024, and is currently $901 million as of their latest financial filing in 2024.

How has Zebra Technologies' book value per share changed over the last 9 years?

Over the last 9 years, Zebra Technologies' book value per share changed from 17.14 in 2015 to 69.52 in 2024, a change of 305.6%.

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This page (NASDAQ:ZBRA) was last updated on 5/30/2025 by MarketBeat.com Staff

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Zebra Technologies (ZBRA) Financials

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Zebra Technologies (ZBRA) Financials

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