Zebra Technologies Corp (ZBRA)
Information Technology · Electronic Equipment & Instruments · US stock · S&P 500 component
$369.01
▼ -8.50 (2.25%)
Fair valueFair
$322 −12.6% to fair value
$161fair band $226–$419$484
Day's range
$367.49 – $378.11
52-week range
$199.05 – $390.80
About Zebra Technologies Corp
Zebra Technologies makes the devices and software that help businesses track, scan and manage items and people. Its range includes barcode scanners, mobile computers, label and receipt printers, RFID readers and machine vision systems, along with software that ties them together. Retailers, warehouses and logistics companies, manufacturers and healthcare providers use them to keep inventory accurate and workflows moving.
The company earns revenue from hardware, from recurring software and services, and from repair and support contracts. Over the last twelve months it reached $5.8 billion, though revenue growth over the last three years was -2.3% a year, a decline. The operating margin is 14.7%, and the business earns a profit of 10% on the capital invested in it. It has net debt of 2.6 times EBITDA. No dividend is paid. On the site's X-Ray Score it receives 45 out of 100.
Written with AI from public information and the filing figures on this page, then checked automatically for unsupported numbers. It can contain mistakes: read the company's own filings below before relying on it.
Price chart
52-wk range $199.05 – $390.80Volume 500,700Daily, split-adjusted
Vitals
Market cap$17.8B
52-week range$199.05 – $390.80
Volume (last day)500,700
P/E (TTM)34.2
EBIT / EV yield4.2%
Free-cash-flow yield5.1%
Dividend yieldNo dividend
Revenue (TTM)$5.8B
Net income (TTM)$539M
Operating margin14.7%
Return on capital10.5%
Debt incl. leases$3.0B
Cash & securities$157M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies like Apple). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$322model spread $310 – $333
Fair
−12.6% to fair value
Equal blend of three models: peer multiples, a fundamentals-adjusted multiple (growth, ROIC and margin) and a 10-year DCF scaled to the market's average. Earnings-power value (no growth) is a floor and not part of the blend. Model uncertainty is Medium, so the safety margin is 30%.
Price $369
Undervalued < $226Fair $226 – $419Overvalued > $419
10-year DCF (market-scaled)
$198
Peer multiples
$448
Earnings power floor (not blended)
$76
Fundamentals-adjusted multiple
$321
Growth the price implies
19.7%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.09%, equity risk premium 4.23% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Valuation
Fair
65/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.2%
Free-cash-flow yield5.1%
Fair value vs price0.9×
Growth
Weak
37/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)-2.3%
EPS growth (3y)-2.4%
Growth consistency90%
Profitability
Weak
44/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital10.5%
Operating margin14.7%
Gross profitability33.6%
Financial health
Weak
30/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score5 / 9
Net debt / EBITDA2.6×
Interest coverNo interest cost
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+11.3%
Mar '25
+6.2%
Jun '25
+5.2%
Sep '25
+10.6%
Dec '25
+14.3%
Apr '26
+20.4%
Jul '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.6B, diluted EPS $4.85.
Compare with peers
TDY Teledyne Technologies...51 ROP Roper Technologies Inc48 KEYS Keysight Technologies,...40Other Electronic Equipment & Instruments companies by X-Ray Score.
Fundamentals checklist
● 2 Good · ● 6 Average · ● 8 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldGood
Risk models
Altman Z''Bad
Piotroski F-ScoreBad
Growth
EPS growth (3y)Bad
Free-cash-flow growth (3y)Average
Revenue growth (3y)Bad
Growth consistencyAverage
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverGood
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalBad
Operating marginBad
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 45/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $5.6B | $5.8B | $4.6B | $5.0B | $5.4B |
| Operating income | $979M | $529M | $481M | $742M | $700M |
| Net income | $837M | $463M | $296M | $528M | $419M |
| Operating cash flow | $1.1B | $488M | −$4M | $1.0B | $917M |
| Operating margin | 17.4% | 9.2% | 10.5% | 14.9% | 13.0% |
| Free cash flow | $1.0B | $413M | −$91M | $954M | $831M |
| Diluted EPS | $15.52 | $8.80 | $5.72 | $10.18 | $8.18 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
9 bullish · 2 neutral · 5 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 381.5 | Bearish |
| EMA 10 | 378.0 | Bearish |
| SMA 20 | 375.3 | Bearish |
| EMA 20 | 374.0 | Bearish |
| SMA 50 | 365.8 | Bullish |
| EMA 50 | 355.8 | Bullish |
| SMA 100 | 314.0 | Bullish |
| EMA 100 | 326.9 | Bullish |
| SMA 200 | 273.7 | Bullish |
| EMA 200 | 301.0 | Bullish |
Oscillators (daily)
| RSI (14) | 48.84 | Neutral |
| MACD (12, 26) | 6.59 | Bullish |
| Momentum (12) | -1.15 | Bearish |
| Stochastic %K (14) | 12.98 | Bullish |
| Williams %R (14) | -87.02 | Bullish |
| CCI (20) | -31.38 | Neutral |
Pivot points (classic, last session)
S3 354.3 | S2 360.9 | S1 365.0 | Pivot 371.5 | R1 375.6 | R2 382.2 | R3 386.2 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ZBRA SEC filings
4 Aug 2026
10-QSEC EDGAR
Quarterly report
4 Aug 2026
8-KSEC EDGAR
Results of operations
26 May 2026
8-KSEC EDGAR
Director or officer change; Shareholder vote results
12 May 2026
10-QSEC EDGAR
Quarterly report
12 May 2026
8-KSEC EDGAR
Results of operations
3 Apr 2026
DEF 14ASEC EDGAR
Proxy statement
12 Feb 2026
10-KSEC EDGAR
Annual report
12 Feb 2026
8-KSEC EDGAR
Results of operations; Other events
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.