Zebra Technologies Corporation
- Open
- 260.33
- Day high
- 269.96
- Day low
- 260.20
- Prev close
- 263.26
- Volume
- 249K
- Mkt cap
- $12.2B
- P/E (TTM)
- 31.0
- EPS (TTM)
- $8.70
- P/B
- 3.5
- P/S
- 2.2
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$876K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions reducing (13F)
Zebra Technologies Corporation (ZBRA) is a Technology company listed on NASDAQ. The stock is down 17% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Zebra Technologies Corporation (ZBRA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ZBRA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 12, 2026 | $4.21 | $4.75 | +12.8% | $1.5B | +1.1% |
| Feb 12, 2026 | $4.34 | $4.33 | -0.2% | $1.5B | +2.3% |
| Feb 13, 2025 | $3.95 | $4.00 | +1.3% | $1.3B | +1.3% |
| Apr 30, 2024 | $2.45 | $2.84 | +15.9% | $1.2B | +2.4% |
| Feb 15, 2024 | $1.63 | $1.71 | +4.9% | $1.0B | +0.9% |
| Oct 31, 2023 | $0.76 | $0.87 | +14.5% | $956M | +3.2% |
| May 2, 2023 | $3.92 | $3.94 | +0.5% | $1.4B | +0.6% |
| Feb 16, 2023 | $4.54 | $4.75 | +4.6% | $1.5B | +3.4% |
| Nov 1, 2022 | $4.54 | $4.12 | -9.3% | $1.4B | -6.7% |
| Aug 2, 2022 | $4.19 | $4.61 | +10.0% | $1.5B | +1.6% |
| May 3, 2022 | $3.87 | $4.01 | +3.6% | $1.4B | +4.4% |
| Feb 10, 2022 | $4.40 | $4.54 | +3.2% | $1.5B | +0.5% |
ZBRA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 28, 2026 | Luff Loizides Melissaofficer: Chief People Officer | Sell | 500 | $253.95 |
| May 21, 2026 | Dhanasekaran Satishdirector | Grant | 951 | $247.15 |
| May 21, 2026 | Modruson Frank Blaisedirector | Grant | 951 | $247.15 |
| May 21, 2026 | Connly Lindadirector | Grant | 951 | $247.15 |
| May 21, 2026 | MCDOWELL MARY Tdirector | Grant | 951 | $247.15 |
| May 21, 2026 | Burns Billdirector, officer: Chief Executive Officer | Grant | 12,387 | — |
| May 21, 2026 | Miller Kenneth Bradleydirector | Grant | 951 | $247.15 |
| May 21, 2026 | Connors Nelda Jdirector | Grant | 951 | $247.15 |
| May 21, 2026 | SMITH MICHAEL Adirector | Grant | 951 | $247.15 |
| May 21, 2026 | Kogl Cristen Lofficer: Chief Legal Officer | Grant | 2,395 | — |
| May 21, 2026 | ROBERTS JANICE Mdirector | Grant | 951 | $247.15 |
| May 21, 2026 | Luff Loizides Melissaofficer: Chief People Officer | Grant | 239 | — |
| May 21, 2026 | Cho Michaelofficer: Chief Strategy Officer | Grant | 1,550 | — |
| May 21, 2026 | MANIRE ROSS Wdirector | Grant | 951 | $247.15 |
| May 21, 2026 | GUSTAFSSON ANDERSdirector | Grant | 951 | $247.15 |
Source: ZBRA SEC Form 4 filings, latest May 28, 2026. For informational purposes only — not investment advice.
See the full ZBRA insider & 13F page →Zebra Technologies Corporation company profile
Overview
Zebra Technologies Corporation (NASDAQ:ZBRA) is a leading provider of enterprise asset intelligence solutions founded in 1969 and headquartered in Lincolnshire, Illinois. The company went public in 1991 and has evolved from a barcode printer manufacturer into a comprehensive technology solutions provider serving various industries including retail, healthcare, manufacturing, transportation, and logistics. Zebra operates through two primary business segments and serves customers worldwide through direct sales and channel partners, focusing on digitizing and automating frontline workflows across enterprise environments.
Business
Zebra Technologies operates in the automatic identification and data capture (AIDC) solutions industry, providing hardware, software, and services that help organizations track, manage, and optimize their assets and operations. The company's solutions enable businesses to capture, analyze, and act on data in real-time to improve operational efficiency and visibility. The company operates through two main business segments: Asset Intelligence & Tracking (AIT) Segment - This segment manufactures and sells various printing solutions including thermal barcode printers, RFID printers, card printers, and related supplies like labels, ribbons, and RFID tags. These products are essential for creating identification labels, tracking tags, and cards used across industries. The segment also includes temperature-monitoring labels primarily used in vaccine distribution and other temperature-sensitive applications. This segment has historically represented a significant portion of Zebra's revenue. Enterprise Visibility & Mobility (EVM) Segment - This segment provides mobile computing devices, barcode scanners, RFID readers, rugged tablets, and data capture solutions that frontline workers use to collect and access information in real-time. The segment also offers software solutions including workforce management, workflow execution, task management, and prescriptive analytics platforms. Additionally, it provides real-time location systems (RTLS) and emerging technologies like machine vision and robotics automation solutions. Both segments are supported by comprehensive services including maintenance, technical support, managed services, and cloud-based software subscriptions. The company's solutions are particularly critical in environments where accurate data capture, asset tracking, and workflow automation are essential for operational success.
Revenue model
Zebra Technologies generates revenue through multiple streams across its hardware, software, and services portfolio. The primary revenue model is product sales, where the company sells printers, mobile computers, scanners, RFID readers, and related hardware to enterprise customers. This is complemented by consumables revenue from ongoing sales of labels, ribbons, RFID tags, and other supplies that customers need to operate their Zebra equipment. The company also generates recurring revenue through services and software subscriptions, including maintenance contracts, technical support, managed services, and cloud-based software platforms. This recurring revenue stream provides more predictable cash flows and higher margins. Additionally, Zebra earns revenue from professional services helping customers implement and optimize their solutions. The primary customers are enterprises across retail and e-commerce, manufacturing, transportation and logistics, healthcare, and public sector organizations. These customers typically make substantial capital investments in Zebra's solutions as part of broader digital transformation initiatives to improve operational efficiency and data visibility. Several factors influence Zebra's margins and profitability. Positive margin drivers include the company's focus on higher-margin software and services, pricing power in specialized vertical markets, and operational efficiency improvements from restructuring initiatives. The recurring nature of consumables and services also provides margin stability. Negative margin pressures come from component cost inflation, supply chain disruptions, competitive pricing pressure, and tariff impacts on products manufactured in China. Economic downturns can also pressure margins as customers delay large capital projects and distributors reduce inventory levels. The company's ongoing efforts to diversify manufacturing beyond China and implement pricing adjustments help mitigate some of these pressures.
Competitive moat
Zebra Technologies possesses a moderate but meaningful competitive moat built on several key advantages. The company benefits from high switching costs, as customers invest significantly in Zebra's integrated hardware, software, and services ecosystems. Once deployed, these solutions become deeply embedded in critical business operations, making replacement costly and disruptive. Zebra's vertical market expertise provides another competitive advantage, with deep domain knowledge in retail, healthcare, manufacturing, and logistics that allows the company to develop specialized solutions competitors struggle to replicate. The company's extensive channel partner network and global service infrastructure create additional barriers for competitors seeking to serve large enterprise customers across multiple geographies. The consumables business model strengthens the moat, as customers must continuously purchase labels, ribbons, and tags specifically designed for Zebra equipment. This creates recurring revenue streams and customer lock-in effects similar to the razor-and-blade model. However, Zebra's moat faces several challenges. The automatic identification and data capture industry includes well-funded competitors like Honeywell and Datalogic, while technology giants like Google and Microsoft are developing competing AI and automation solutions. The rapid pace of technological change, particularly in areas like artificial intelligence and machine vision, could potentially disrupt Zebra's traditional hardware-centric model. Additionally, some customers are increasingly seeking vendor-agnostic solutions to avoid lock-in, which could weaken Zebra's switching cost advantages over time. The company's ongoing investments in AI, machine vision, and software capabilities represent efforts to strengthen its competitive position against these emerging threats.
Risks & safety
Zebra Technologies demonstrates a solid financial position with adequate liquidity and manageable debt levels, though valuation metrics suggest limited margin of safety at current prices. • Liquidity and Solvency: Strong cash position of $879 million with current ratio of 1.45, indicating sufficient short-term liquidity. Debt-to-equity ratio of 0.65 is manageable but not conservative. Free cash flow of $158 million in Q1 2025 shows positive cash generation. • Valuation Metrics: Trading at 26.5x P/E ratio and 17.4x EV/EBITDA, which appear elevated for a cyclical technology company. Price-to-book ratio of 4.0x suggests premium valuation. Graham number of approximately $65 indicates significant overvaluation relative to conservative metrics. • Other Considerations: Revenue growth has been volatile, with strong recovery in 2024 following weakness in 2023. The company's exposure to economic cycles and potential tariff impacts create additional risks. However, recurring revenue from services and consumables provides some stability.
Recent development
Over the past few years, Zebra has undertaken several strategic initiatives to position itself for long-term growth and adapt to changing market conditions. The company has significantly invested in artificial intelligence capabilities, launching AI-powered solutions including the Zebra Companion digital assistant and AI-based machine vision offerings designed to empower frontline workers with enhanced productivity tools. Zebra has pursued strategic acquisitions to expand its technology portfolio, including the pending acquisition of Photoneo, a 3D machine vision company, and the completed acquisition of FotoNeo to strengthen its machine vision capabilities. These moves represent the company's push beyond traditional barcode and RFID technologies into more advanced automation solutions. The company has also focused on supply chain diversification, working to reduce its dependence on Chinese manufacturing in response to tariff concerns and geopolitical tensions. Approximately 50% of finished goods production has been moved outside of China, with ongoing efforts to further diversify the manufacturing footprint. In response to market challenges in 2023, Zebra implemented a comprehensive restructuring program designed to deliver $120 million in net annualized operating savings. This included reallocating resources toward underpenetrated markets such as Japan, government sectors, and manufacturing applications. The company has expanded its software and services offerings, developing cloud-based platforms for workforce management, workflow execution, and prescriptive analytics. These initiatives support Zebra's strategic shift toward higher-margin recurring revenue streams while maintaining its hardware leadership position.
ZBRA company profile · for informational purposes only — not investment advice.
Track ZBRA with Drillr
SEC filings, earnings calls, insider activity, alt-data signals — all queryable through Drillr's AI terminal and MCP API.
Try Drillr for free