Zebra Tech (ZBRA) AI Stock Analysis

• Market Cap: $12.69B
• Dividend Yield: N/A
• Average Volume (3M): 808.93K
• Price to Earnings (P/E): 25.3
• Beta (1Y): 1.60
• 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: 836,162
• 30 Day Avg. Volume: 808,934
• 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: 1.31
• Enterprise Value/Revenue: 3.17
• Enterprise Value/Gross Profit: 6.55
• Enterprise Value/Ebitda: 15.65
• 1Y Price Target: $360.33
• Price Target Upside: 43.84% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8
• EPS Forecast (FY): 15.81
• Revenue Forecast (FY): $5.39B

• Rating: 68 Neutral
• Price Target: $263.00 ▲(4.99% Upside)

Zebra Technologies' strong earnings call performance and solid financial position are key strengths, driving a positive outlook. However, bearish technical indicators and valuation concerns moderate the overall score. The company's strategic acquisitions and regional growth are promising, but challenges in EMEA and tariff impacts present risks.

Positive Factors

Revenue Growth

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

Regional Expansion

Strong regional growth diversifies revenue streams and reduces dependency on any single market, enhancing resilience.

Strategic Acquisitions

Acquisitions like Elo Touch Solutions expand product offerings and market reach, driving future growth and competitive positioning.

Negative Factors

Profit Margin Pressure

Margin pressure from tariffs can affect profitability, requiring strategic cost management to maintain financial health.

EMEA Sales Decline

Declining sales in EMEA highlight regional challenges that may impact overall growth unless addressed with targeted strategies.

Cash Flow Challenges

Reduced cash flow generation can limit investment capacity and operational flexibility, affecting long-term strategic initiatives.

Zebra Tech Business Overview & Revenue Model

Company Description

Zebra Technologies Corporation (ZBRA) is a leading global provider of enterprise asset intelligence solutions, specializing in the development and manufacturing of innovative products that enhance business operations across various sectors. The company primarily operates in the automatic identification and data capture (AIDC) industry, offering a diverse range of products including barcode scanners, mobile computers, RFID solutions, and printing technologies. Zebra serves multiple markets such as retail, transportation and logistics, healthcare, manufacturing, and more, helping organizations improve their operational efficiency and decision-making through real-time visibility into their assets and operations.

How the Company Makes Money

Zebra Technologies generates revenue through multiple streams, including the sale of hardware products, software solutions, and service offerings. The hardware segment, which includes barcode scanners, mobile computers, and RFID devices, constitutes a significant portion of the company's revenue. Additionally, Zebra has developed software solutions that enhance asset tracking and inventory management, providing recurring revenue through licensing and subscriptions. Service offerings, including maintenance, support, and consulting, further contribute to its income. The company also benefits from strategic partnerships with key players in various industries, facilitating the integration of its technologies into broader business ecosystems and driving sales growth.

Zebra Tech Financial Statement Overview

Summary

Zebra Tech demonstrates strong revenue growth and effective cost management, evidenced by a robust gross profit margin. However, there are signs of pressure on profitability and operational efficiency, as seen in the declining net profit and EBIT margins. The balance sheet is stable with improved leverage ratios, while cash flow management shows some 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: Neutral
• Last Price: 250.50
• 50DMA: Negative
• 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 Neutral. The current price of 250.5 is above the 20-day moving average (MA) of 250.27, below the 50-day MA of 279.88, and below the 200-day MA of 291.94, indicating a neutral trend. The MACD of -11.78 indicates Negative momentum. The RSI at 44.26 is Neutral, neither overbought nor oversold. The STOCH value of 70.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	$32.48B	12.86	25.45%	2.54%	1.04%	―
MSI	71 Outperform	$61.54B	29.65	115.80%	1.17%	6.17%	35.41%
ZBRA	68 Neutral	$12.69B	25.26	14.29%	―	13.35%	34.73%
HPE	67 Neutral	$28.41B	27.19	5.37%	2.42%	14.39%	-38.96%
NOK	66 Neutral	$33.78B	34.21	4.03%	2.42%	5.05%	115.92%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
PI	56 Neutral	$5.20B	―	-7.49%	―	4.24%	-141.83%

Zebra Tech Corporate Events

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 Technologies Reports Strong Q3 2025 Results

Zebra Technologies Corporation, a leader in digitizing and automating workflows, operates in sectors such as retail, manufacturing, transportation, and healthcare, providing solutions that enhance productivity and operational efficiency. In its third-quarter 2025 earnings report, Zebra Technologies reported net sales of $1,320 million, marking a 5.2% increase year-over-year, and a net income of $101 million. The company also highlighted a significant increase in non-GAAP diluted EPS to $3.88 and an adjusted EBITDA rise to $285 million. Strategic moves included the acquisition of Elo Touch Solutions and a commitment to $500 million in share repurchases over the next year. Key financial metrics from the third quarter show a robust performance, with the Enterprise Visibility & Mobility segment achieving $865 million in sales and the Asset Intelligence & Tracking segment reaching $455 million, reflecting a 10.6% increase in the latter. Despite a slight decrease in gross margin due to tariff expenses, the company maintained strong operating expense management. Looking ahead, Zebra Technologies anticipates a sales growth of 8% to 11% in the fourth quarter of 2025, driven by favorable acquisitions and currency impacts, with an expected adjusted EBITDA margin of approximately 22%. The company remains focused on enhancing shareholder value and leveraging its strong balance sheet to support future growth initiatives.

Zebra Technologies’ Earnings Call: Growth Amidst Challenges

Zebra Technologies’ recent earnings call painted a picture of robust growth tempered by regional and sector-specific challenges. The company reported strong revenue growth, particularly in the Asia Pacific, Latin America, and North America regions, driven by RFID technology and the strategic acquisition of Elo Touch Solutions. However, the call also highlighted difficulties in the EMEA region and the manufacturing sector, as well as the impact of tariffs on margins.

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.

Zebra Tech Completes Acquisition of Elo Touch Solutions

On October 1, 2025, Zebra Technologies announced the completion of its acquisition of Elo Touch Solutions for approximately $1.3 billion, following the transaction closure on September 30, 2025. This strategic acquisition enhances Zebra’s market position in customer-facing workflows, expanding its addressable market by $8 billion and allowing it to offer a unified platform across mobile and fixed digital touchpoints, thereby improving frontline efficiency and customer service in industries such as retail, hospitality, and healthcare.

The most recent analyst rating on (ZBRA) stock is a Buy with a $347.00 price target. To see the full list of analyst forecasts on Zebra Tech stock, see the ZBRA Stock Forecast page.