Zebra Tech (ZBRA) AI Stock Analysis

• Market Cap: $12.51B
• Dividend Yield: N/A
• Average Volume (3M): 502.05K
• Price to Earnings (P/E): 25.7
• Beta (1Y): 1.49
• Revenue Growth: 13.35%
• EPS Growth: 34.73%
• Country: US
• Employees: 9,900
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): 3.88
• Shares Outstanding: 50,660,240
• 10 Day Avg. Volume: 465,817
• 30 Day Avg. Volume: 502,046
• PEG Ratio: 0.48
• Price to Book (P/B): 5.55
• Price to Sales (P/S): 3.99
• P/FCF Ratio: 20.85
• Enterprise Value/Market Cap: 1.33
• Enterprise Value/Revenue: 3.17
• Enterprise Value/Gross Profit: 6.55
• Enterprise Value/Ebitda: 15.67
• 1Y Price Target: $353.67
• Price Target Upside: 38.89% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 72 Outperform
• Price Target: $281.00 ▲(10.35% Upside)

Zebra Technologies' overall stock score reflects strong financial performance and strategic growth initiatives, particularly the acquisition of Elo Touch Solutions. However, technical indicators and valuation suggest caution, with bearish trends and moderate valuation. Earnings call insights and corporate events provide a balanced outlook, highlighting both opportunities and challenges.

Positive Factors

Revenue Growth

Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion.

Strategic Acquisition

The acquisition expands Zebra's market reach and product offerings, potentially increasing revenue streams and competitive advantage.

Strong Free Cash Flow

Robust free cash flow generation provides financial flexibility for investments and shareholder returns, supporting long-term growth.

Negative Factors

Declining Profit Margins

Decreasing profit margins suggest rising costs or pricing pressures, which could impact long-term profitability and operational efficiency.

Tariffs Impact on Margins

Tariff-related cost increases could continue to pressure margins, affecting profitability and pricing strategies in the long term.

EMEA Sales Decline

Declining sales in EMEA may indicate regional market challenges, potentially impacting overall revenue growth and market share.

Zebra Tech Business Overview & Revenue Model

Company Description

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers, which produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers, which produce images which are used for personal identification, access control, and financial transactions; RFID printers that encode data into passive RFID transponders; accessories and options for our printers, including vehicle mounts and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution. It also provides various maintenance, technical support, repair, and managed and professional services; real-time location systems and services; and tags, sensors, exciters, middleware software, and application software; as well as physical inventory management solutions, and rugged tablets and enterprise-grade mobile computing products and accessories. In addition, the company offers barcode scanners, image capture devices, and RFID readers; and workforce management solutions, workflow execution and task management solutions, and prescriptive analytics solutions, as well as communications and collaboration solutions. It also provides services, including maintenance, technical support, repair, managed and professional services; as well as cloud-based software subscriptions and robotics automation solutions. 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 the Company Makes Money

Zebra Tech generates revenue through multiple streams, primarily by selling hardware products such as barcode scanners, mobile computers, and RFID systems, which are essential for tracking and managing assets in various industries. Additionally, the company offers software solutions that enhance data analytics and operational efficiency, creating recurring revenue through software licenses and subscriptions. Services like system integration, maintenance, and technical support also contribute to its earnings. Zebra Tech has established significant partnerships with various enterprises across different sectors, further driving sales through bundled offerings and integrated solutions that meet the specific needs of its clients.

Zebra Tech Financial Statement Overview

Summary

Zebra Tech demonstrates strong revenue growth and effective cost management, with a robust gross profit margin. However, there are pressures on profitability and operational efficiency, as seen in declining net profit and EBIT margins. The balance sheet is stable with improved leverage ratios, but cash flow management shows challenges in cash generation.

Income Statement

Zebra Tech shows strong revenue growth in the TTM period with a 5.5% increase from the previous year. The gross profit margin remains robust at 48.39%, indicating effective cost management. However, the net profit margin has slightly decreased to 9.74% from 10.60% in the previous year, suggesting some pressure on profitability. The EBIT and EBITDA margins have also declined, reflecting potential challenges in operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has improved to 0.62, indicating a healthier balance between debt and equity compared to previous years. Return on equity is solid at 14.05%, although it has slightly decreased from the previous year. The equity ratio stands at 46.45%, showing a stable financial structure. Overall, the balance sheet reflects a stable financial position with manageable leverage.

Cash Flow

Operating cash flow has decreased, impacting the operating cash flow to net income ratio, which is now at 0.54. Free cash flow has also declined, resulting in a negative growth rate of -7.15%. The free cash flow to net income ratio remains strong at 0.91, indicating efficient cash generation relative to net income. The cash flow statement suggests some challenges in cash generation, but overall cash management remains effective.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	5.25B	4.98B	4.58B	5.78B	5.63B	4.45B
Gross Profit	2.54B	2.41B	2.12B	2.62B	2.63B	2.00B
EBITDA	1.06B	937.00M	761.00M	1.14B	1.16B	782.00M
Net Income	512.00M	528.00M	296.00M	463.00M	837.00M	504.00M
Balance Sheet
Total Assets	8.07B	7.97B	7.31B	7.53B	6.21B	5.38B
Cash, Cash Equivalents and Short-Term Investments	1.05B	901.00M	137.00M	105.00M	332.00M	168.00M
Total Debt	2.36B	2.36B	2.41B	2.34B	1.15B	1.40B
Total Liabilities	4.32B	4.38B	4.27B	4.80B	3.23B	3.23B
Stockholders Equity	3.75B	3.59B	3.04B	2.73B	2.98B	2.14B
Cash Flow
Free Cash Flow	792.00M	954.00M	-91.00M	413.00M	1.01B	895.00M
Operating Cash Flow	866.00M	1.01B	-4.00M	488.00M	1.07B	962.00M
Investing Cash Flow	-136.00M	-57.00M	-92.00M	-968.00M	-546.00M	-641.00M
Financing Cash Flow	-349.00M	-190.00M	117.00M	253.00M	-371.00M	-157.00M

Zebra Tech Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 254.64
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ZBRA, the sentiment is Positive. The current price of 254.64 is above the 20-day moving average (MA) of 254.10, above the 50-day MA of 254.14, and below the 200-day MA of 285.40, indicating a neutral trend. The MACD of -2.25 indicates Negative momentum. The RSI at 50.92 is Neutral, neither overbought nor oversold. The STOCH value of 69.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ZBRA.

Zebra Tech Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ERIC	74 Outperform	$32.94B	12.60	25.45%	2.51%	1.04%	―
ZBRA	72 Outperform	$12.51B	25.67	14.29%	―	13.35%	34.73%
MSI	70 Neutral	$62.87B	30.65	115.80%	1.18%	6.17%	35.41%
HPE	68 Neutral	$29.93B	-288.98	0.23%	2.17%	14.17%	-102.25%
NOK	66 Neutral	$37.51B	36.52	4.03%	2.26%	5.05%	115.92%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
PI	58 Neutral	$5.90B	-477.16	-7.49%	―	4.24%	-141.83%

Zebra Tech Corporate Events

Zebra Tech Exits Robotics Automation Business

On December 9, 2025, Zebra Technologies Corporation announced its decision to exit its robotics automation solutions business to better align with its strategic priorities. This move is expected to result in up to $80 million in one-time pre-tax charges, including $60 million in non-cash asset impairment charges, but aims to achieve at least $20 million in net annualized pre-tax cost savings.

The most recent analyst rating on (ZBRA) stock is a Buy with a $292.00 price target. To see the full list of analyst forecasts on Zebra Tech stock, see the ZBRA Stock Forecast page.

Zebra Tech Appoints New Chief People Officer

On November 24, 2025, Zebra Technologies announced the appointment of Melissa Luff Loizides as the new Chief People Officer, effective January 1, 2026, succeeding Jeff Schmitz who will retire in the second quarter of 2026. This leadership change underscores Zebra’s commitment to strategic succession planning and the integration of Elo, with Luff Loizides bringing over 25 years of HR experience to support the company’s growth and cultural advancement.

The most recent analyst rating on (ZBRA) stock is a Hold with a $263.00 price target. To see the full list of analyst forecasts on Zebra Tech stock, see the ZBRA Stock Forecast page.

Zebra Tech Adopts New Majority Vote Standard

On October 30, 2025, Zebra Tech‘s Board of Directors implemented new by-laws to establish a majority vote standard for uncontested director elections, requiring directors to receive more votes in favor than against to be elected. This change aims to enhance governance standards and ensure that elected directors have substantial support from shareholders, potentially impacting the company’s decision-making and aligning with shareholder interests.

The most recent analyst rating on (ZBRA) stock is a Buy with a $360.00 price target. To see the full list of analyst forecasts on Zebra Tech stock, see the ZBRA Stock Forecast page.

Zebra Tech’s Chief Officer Resigns for New Opportunity

On October 15, 2025, Joseph R. White announced his resignation from Zebra Technologies Corporation as Chief Product & Solutions Officer, effective November 7, 2025, to pursue another opportunity.

The most recent analyst rating on (ZBRA) stock is a Hold with a $346.00 price target. To see the full list of analyst forecasts on Zebra Tech stock, see the ZBRA Stock Forecast page.