ZBRA - ZEBRA TECHNOLOGIES CORP

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue Growth YoY (%)	8.3% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+67%)	8.7% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+73%)	-20.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-514%)	2.7% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-45%)	26.5% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+430%)	-0.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-116%)	6.3% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+27%)	13.3% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+167%)	4.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-17%)	-2.1% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-143%)	118.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+2271%)	61.0% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1119%)	4.2% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-16%)	1.3% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-74%)	10.0% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+99%)	11.3% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+126%)	-17.7% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-454%)	—	—
EPS Growth YoY (%)	-19.6% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	78.3% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-35.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-43.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	66.1% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	-6.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	28.2% Excellent ↓ Excellent Declining Year-over-year change in earnings per share Optimal: > 10%	2281.8% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	1.5% Caution ↑ Caution Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	-75.8% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	11.3% Fair ↓ Fair Declining Year-over-year change in earnings per share Optimal: > 10%	-26.5% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	82.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	125.3% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—
Net Income Growth YoY (%)	-20.6% Weak ↓ Weak Declining Year-over-year change in net income	78.4% Excellent ↑ Excellent Improving Year-over-year change in net income	-36.1% Weak ↓ Weak Declining Year-over-year change in net income	-44.7% Weak ↓ Weak Declining Year-over-year change in net income	66.1% Excellent ↓ Excellent Declining Year-over-year change in net income	-7.4% Weak ↓ Weak Declining Year-over-year change in net income	29.2% Excellent ↓ Excellent Declining Year-over-year change in net income	2376.5% Excellent Excellent Year-over-year change in net income	N/M	0.0% Caution ↑ Caution Improving Year-over-year change in net income	N/M	-76.2% Weak ↓ Weak Declining Year-over-year change in net income	9.3% Fair ↓ Fair Declining Year-over-year change in net income	-29.6% Weak ↓ Weak Declining Year-over-year change in net income	71.6% Excellent Excellent Year-over-year change in net income	116.1% Excellent Excellent Year-over-year change in net income	N/M	—	—
FCF Growth YoY (%)	-11.7% Weak Weak Year-over-year change in free cash flow	N/M	N/M	-58.1% Weak ↓ Weak Declining Year-over-year change in free cash flow	12.8% Fair ↓ Fair Declining Year-over-year change in free cash flow	44.9% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-14.1% Weak ↓ Weak Declining Year-over-year change in free cash flow	66.7% Excellent Excellent Year-over-year change in free cash flow	37.4% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	227.0% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-50.3% Weak ↓ Weak Declining Year-over-year change in free cash flow	40.9% Excellent Excellent Year-over-year change in free cash flow	-9.7% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	-2.3% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-4.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	1.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	8.8% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	10.1% Good ↑ Good Improving Compound annual revenue growth over 3 years	6.1% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	7.9% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	4.9% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	30.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	51.0% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	54.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	19.3% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	5.1% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	7.4% Fair Fair Compound annual revenue growth over 3 years	0.2% Weak Weak Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	3.9% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	2.1% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	1.7% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	9.2% Good ↓ Good Declining Compound annual revenue growth over 5 years	9.5% Good ↓ Good Declining Compound annual revenue growth over 5 years	4.0% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	21.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	32.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	30.2% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	29.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	32.5% Excellent ↑ Excellent Improving Compound annual revenue growth over 5 years	15.8% Excellent Excellent Compound annual revenue growth over 5 years	1.2% Caution Caution Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	-2.4% Weak ↑ Weak Improving Compound annual EPS growth over 3 years	-13.2% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-15.2% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-4.2% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	25.8% Excellent Excellent Compound annual EPS growth over 3 years	205.7% Excellent Excellent Compound annual EPS growth over 3 years	—	—	-19.8% Weak Weak Compound annual EPS growth over 3 years	—	—	-41.8% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	14.2% Good Good Compound annual EPS growth over 3 years	44.4% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Operating Margin (%) (%)	13.0% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+8%)	14.9% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+24%)	10.5% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-13%)	9.2% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-24%)	17.4% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+45%)	14.6% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+22%)	15.4% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+29%)	14.5% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+21%)	8.7% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-28%)	2.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-81%)	1.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	5.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-56%)	15.4% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+29%)	16.5% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+37%)	18.5% Good ↑ Good Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+54%)	16.6% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+38%)	8.6% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-29%)	-1.6% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-113%)	—
Effective Tax Rate (%) (%)	25.2% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	16.9% Good ↑ Good Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	11.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	14.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	13.5% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	10.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	9.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	19.7% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	80.7% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	-6.2% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	7.8% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	10.6% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+33%)	6.5% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-19%)	8.0% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: At sector avg	14.9% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+86%)	11.3% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+42%)	12.1% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+52%)	10.0% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+25%)	0.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-94%)	-3.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-148%)	-3.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-147%)	1.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	12.9% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+62%)	12.3% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+54%)	17.8% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+122%)	11.4% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+42%)	5.9% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-27%)	-3.9% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-149%)	—
FCF Margin (%) (%)	15.4% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	19.2% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	-2.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	7.1% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	17.9% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	20.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	13.9% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	17.1% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	11.5% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	8.5% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	16.2% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	5.2% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	12.3% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	10.1% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	10.0% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	1.98x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.81x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-0.31x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.89x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.21x Good ↓ Good Declining Free cash flow relative to reported net income Optimal: > 1x	1.78x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	1.15x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	1.71x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	25.18x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-2.21x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—	1.31x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	0.29x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	1.08x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	1.72x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-2.53x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Return on Invested Capital (%)	8.8% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	10.9% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	8.4% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	9.9% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	21.7% Excellent → Excellent Stable Return earned on debt + equity capital invested Optimal: > 10%	19.4% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	29.9% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	17.7% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	2.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	2.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	13.2% Good ↓ Good Declining Return earned on debt + equity capital invested Optimal: > 10%	15.2% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	18.5% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	16.0% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	7.6% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	-1.7% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	8.2% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	9.3% Fair → Fair Stable Operating profit relative to total assets Optimal: > 10%	6.6% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	7.0% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	15.8% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	12.1% Good → Good Stable Operating profit relative to total assets Optimal: > 10%	14.7% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	14.1% Good ↑ Good Improving Operating profit relative to total assets Optimal: > 10%	7.5% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	1.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	1.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	14.3% Good ↓ Good Declining Operating profit relative to total assets Optimal: > 10%	17.0% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	20.2% Excellent ↑ Excellent Improving Operating profit relative to total assets Optimal: > 10%	16.9% Excellent Excellent Operating profit relative to total assets Optimal: > 10%	8.3% Fair Fair Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	11.7% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-22%)	14.7% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	9.7% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-35%)	16.9% Good ↓ Good Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+13%)	28.0% Excellent → Excellent Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+87%)	23.5% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+57%)	29.6% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+97%)	31.5% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+110%)	2.0% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-86%)	-17.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-215%)	-15.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-200%)	3.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-79%)	14.0% Fair ↓ Fair Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-7%)	14.3% Fair → Fair Stable Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: At sector avg	22.5% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+50%)	13.9% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-7%)	6.6% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-56%)	-5.4% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-136%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Debt to Equity (x)	0.66x Fair → Fair Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-6%)	0.58x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-17%)	0.67x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: At sector avg	0.66x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-5%)	0.31x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-56%)	0.41x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-41%)	0.14x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-79%)	1.07x Caution ↓ Caution Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+53%)	2.61x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+273%)	3.34x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+378%)	3.30x Weak ↑ Weak Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+371%)	3.03x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+334%)	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	—	—	—	—	—	—
Interest Coverage (x)	5.43x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	13.49x Excellent ↓ Excellent Declining Operating income divided by interest expense Optimal: > 5x	4.33x Fair ↓ Fair Declining Operating income divided by interest expense Optimal: > 5x	9.12x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	195.80x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	8.57x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	7.78x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	6.70x Good ↑ Good Improving Operating income divided by interest expense Optimal: > 5x	1.42x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	0.41x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	0.27x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	1.44x Weak Weak Operating income divided by interest expense Optimal: > 5x	1635.35x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—	—
Net Debt (USD)	$2.24B	$1.19B	$1.91B	$1.70B	$590.00M	$713.00M	$236.00M	$1.39B	$2.11B	$2.49B	$2.82B	$2.76B	$-62.83M	$-64.74M	$-36.42M	$-46.17M	$-38.94M	$-33.27M	$-38.21M
Debt / EBITDA (x)	3.06x Caution → Caution Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.58x Fair → Fair Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.70x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.03x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.88x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.23x Good ↓ Good Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.35x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.08x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.43x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	17.08x Weak → Weak Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	24.69x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	27.21x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Revenue per Share (USD)	$106.18	$96.73	$89.22	$110.73	$105.28	$83.23	$83.07	$78.71	$70.20	$69.29	$71.61	$32.90	$20.48	$19.32	$18.26	$15.65	$13.55	$15.14	—
Basic EPS, GAAP (USD)	$8.24	$10.25	$5.75	$8.86	$15.66	$9.43	$10.08	$7.86	$0.33	$-2.65	$-2.69	$0.64	$2.65	$2.38	$3.24	$1.78	$0.79	$-0.60	—
Free Cash Flow per Share (USD)	$16.35	$18.53	$-1.77	$7.91	$18.90	$16.75	$11.56	$13.45	$8.07	$5.87	—	—	—	$3.12	$0.95	$1.92	$1.36	$1.51	—
Book Value per Share (USD)	$70.60	$69.64	$59.09	$52.35	$55.83	$40.12	$34.06	$24.91	$15.73	$15.36	$17.90	$20.48	$19.04	$16.83	$14.91	$13.10	$12.01	$11.02	—
Tangible Book Value per Share (USD)	$-38.33	$-14.12	$-26.98	$-34.40	$-14.03	$-23.32	$-19.60	$-25.97	$-36.40	$-41.61	$-45.83	$-48.81	$14.58	$14.20	$13.14	$11.50	$8.48	$11.02	—
Basic Weighted Avg Shares (shares)	50.82M	51.49M	51.38M	52.21M	53.45M	53.44M	53.99M	53.59M	53.02M	51.58M	51.00M	50.79M	50.69M	51.57M	53.85M	57.14M	59.31M	64.52M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Working Capital (USD)	$-56.00M	$736.00M	$74.00M	$-449.00M	$-111.00M	$-578.00M	$-209.00M	$-139.00M	$63.00M	$273.00M	$456.00M	$719.00M	$635.05M	$615.65M	$475.90M	$455.14M	$306.13M	—	—
LT Debt (USD)	$2.36B	$2.09B	$2.05B	$1.81B	$922.00M	$881.00M	$266.00M	$1.43B	$2.18B	$2.65B	$3.01B	$3.16B	$0.00	—	—	—	—	—	—
Total Equity (USD)	$3.59B	$3.59B	$3.04B	$2.73B	$2.98B	$2.14B	$1.84B	$1.33B	$834.00M	$792.00M	$913.00M	$1.04B	$958.66M	$857.00M	$776.92M	$730.03M	$712.13M	$710.74M	$902.69M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗	FY 2012 Dec 31, 2012 10-K ↗	FY 2011 Dec 31, 2011 10-K ↗	FY 2010 Dec 31, 2010 10-K ↗	FY 2009 Dec 31, 2009 10-K ↗	FY 2008 Dec 31, 2008 10-K ↗	FY 2007 Dec 31, 2007 10-K ↗
Sales/Revenue/Turnover (USD)	$5.40B	$4.98B	$4.58B	$5.78B	$5.63B	$4.45B	$4.49B	$4.22B	$3.72B	$3.57B	$3.65B	$1.67B	$1.04B	$996.17M	$983.49M	$894.36M	$803.59M	$976.70M	—
Depreciation Expense (USD)	$71.00M	$68.00M	$72.00M	$68.00M	$72.00M	$68.00M	$72.00M	$78.00M	$79.00M	$75.00M	$69.00M	$27.00M	$24.73M	$21.50M	$20.68M	$20.29M	—	—	—
Net Income, GAAP (USD)	$419.00M	$528.00M	$296.00M	$463.00M	$837.00M	$504.00M	$544.00M	$421.00M	$17.00M	$-137.00M	$-137.00M	$32.00M	$134.36M	$122.90M	$174.64M	$101.78M	$47.10M	$-38.42M	—
Operating Cash Flow (USD)	$917.00M	$1.01B	$-4.00M	$488.00M	$1.07B	$962.00M	$685.00M	$785.00M	$478.00M	$380.00M	—	—	—	$183.33M	$78.31M	$140.46M	$105.70M	$138.28M	—

ZEBRA TECHNOLOGIES CORP

Analytical Summary

19-Year Financial Trajectory

Health Breakdown

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