Zebra Technologies (ZBRA) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Zebra Technologies

NasdaqGS•Technology•Communication Equipment

$347.81+6.63(0.02%)After hours

Market Cap

$16.38B

P/E

30.4x

P/S

2.8x

P/B

4.8x

Zebra Technologies Corporation, together with its subsidiaries, operates in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Connected Frontline, and Asset Visibility and Automation. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and electronic sensors and temperature-monitoring labels. It also provides various maintenance, technical support, repair, and managed and professional services; fixed readers, RFID enabled mobile computers, and RFID sleds; tags, sensors, exciters, middleware software, and application software; and physical inventory management solutions; rugged and enterprise-grade mobile computing products and accessories, as well as real-time location systems and services. In addition, the company offers barcode scanners and imagers, RFID readers, industrial machine vision cameras, and fixed industrial scanners; point-of-sale solutions, self-serve kiosks, and interactive touchscreen displays; workflow optimization solutions, such as workforce management, workflow execution and task management, and prescriptive analytics, and communications and collaboration solutions; and cloud-based software. The company serves retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries through direct sales force and network of channel partners. The company was founded in 1969 and is headquartered in Lincolnshire, Illinois.

How this company scores

GoodMetricSide Score: 75/100

Strongest: Cash & Earnings Quality (23/25); weakest: Growth (17/25).

Profitability17/25

Growth17/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality23/25

Strengths

High ROELow leverageCash-backed earningsConsistent free cash flow

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 30.4x5y range 23.4x – 69.2x

Currently near its 20-quarter median.

P/S · 2.8x5y range 1.8x – 5.7x

Currently near its 20-quarter median.

P/B · 4.8x5y range 2.9x – 10.7x

Price & Volume

Market Cap $16.38B

Metrics at a Glance

as of July 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $5.85B
Q. Revenue: $1.56B
TTM EBITDA: $1.07B
TTM Op. Income: $858.00M
Q. Op. Income: $321.00M
TTM Net Income: $539.00M
Q. Net Income: $233.00M
EPS: $4.89
Shares Out.: $47.72M

$5.85B in TTM revenue grew 12.7% YoY, reaching $1.56B last quarter. TTM EBITDA of $1.07B and TTM operating income of $858.00M show growth is flowing through to the bottom line. TTM net income of $539.00M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 24.3%
Op. Margin: 20.6%
Net Margin: 15.0%

Op. margin of 20.6% is up 6.5% YoY — cost efficiency is improving. Net margin at 15.0% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 30.4x
P/S Ratio: 2.8x
P/B Ratio: 4.8x

At 30.4x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.8x and P/B of 4.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 6% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $8.64B
Cash: $157.00M
Long-Term Debt: $493.00M
Book Value: $3.44B
D/E Ratio: 0.1
Debt/EBITDA: 1.3

With $8.64B in assets and $493.00M in long-term debt, D/E is 0.1and book value is $3.44B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is down 76% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $211.00M
TTM Free Cash Flow: $904.00M
FCF Margin: 15.5%
FCF / Net Income: 1.7

TTM FCF of $904.00M on $211.00M in operating cash flow. The FCF / Net Income ratio of 1.7x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.