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ZEBRA TECHNOLOGIES CORP-CL A (ZBRA) Stock Fundamental Analysis

NASDAQ:ZBRA - Nasdaq - US9892071054 - Common Stock - Currency: USD

255.95  +6.31 (+2.53%)

After market: 255.95 0 (0%)

Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to ZBRA. ZBRA was compared to 125 industry peers in the Electronic Equipment, Instruments & Components industry. While ZBRA belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. ZBRA is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

In the past year ZBRA was profitable.
In the past year ZBRA had a positive cash flow from operations.
Each year in the past 5 years ZBRA has been profitable.
ZBRA had a positive operating cash flow in 4 of the past 5 years.
ZBRA Yearly Net Income VS EBIT VS OCF VS FCFZBRA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

1.2 Ratios

The Return On Assets of ZBRA (6.63%) is better than 81.60% of its industry peers.
The Return On Equity of ZBRA (14.72%) is better than 84.00% of its industry peers.
ZBRA's Return On Invested Capital of 10.49% is amongst the best of the industry. ZBRA outperforms 84.80% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for ZBRA is above the industry average of 9.30%.
Industry RankSector Rank
ROA 6.63%
ROE 14.72%
ROIC 10.49%
ROA(3y)5.61%
ROA(5y)7.93%
ROE(3y)13.8%
ROE(5y)18.59%
ROIC(3y)11.59%
ROIC(5y)14.22%
ZBRA Yearly ROA, ROE, ROICZBRA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

1.3 Margins

With an excellent Profit Margin value of 10.60%, ZBRA belongs to the best of the industry, outperforming 85.60% of the companies in the same industry.
ZBRA's Profit Margin has declined in the last couple of years.
ZBRA has a Operating Margin of 15.36%. This is amongst the best in the industry. ZBRA outperforms 90.40% of its industry peers.
In the last couple of years the Operating Margin of ZBRA has remained more or less at the same level.
ZBRA has a better Gross Margin (48.44%) than 84.00% of its industry peers.
In the last couple of years the Gross Margin of ZBRA has remained more or less at the same level.
Industry RankSector Rank
OM 15.36%
PM (TTM) 10.6%
GM 48.44%
OM growth 3Y-5.09%
OM growth 5Y-0.99%
PM growth 3Y-10.68%
PM growth 5Y-2.66%
GM growth 3Y1.23%
GM growth 5Y0.68%
ZBRA Yearly Profit, Operating, Gross MarginsZBRA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

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5

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so ZBRA is still creating some value.
Compared to 1 year ago, ZBRA has more shares outstanding
ZBRA has less shares outstanding than it did 5 years ago.
The debt/assets ratio for ZBRA has been reduced compared to a year ago.
ZBRA Yearly Shares OutstandingZBRA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
ZBRA Yearly Total Debt VS Total AssetsZBRA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

An Altman-Z score of 3.69 indicates that ZBRA is not in any danger for bankruptcy at the moment.
With a decent Altman-Z score value of 3.69, ZBRA is doing good in the industry, outperforming 64.80% of the companies in the same industry.
The Debt to FCF ratio of ZBRA is 2.28, which is a good value as it means it would take ZBRA, 2.28 years of fcf income to pay off all of its debts.
ZBRA has a better Debt to FCF ratio (2.28) than 75.20% of its industry peers.
A Debt/Equity ratio of 0.58 indicates that ZBRA is somewhat dependend on debt financing.
ZBRA has a worse Debt to Equity ratio (0.58) than 76.80% of its industry peers.
Even though the debt/equity ratio score it not favorable for ZBRA, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 2.28
Altman-Z 3.69
ROIC/WACC1.26
WACC8.31%
ZBRA Yearly LT Debt VS Equity VS FCFZBRA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B

2.3 Liquidity

ZBRA has a Current Ratio of 1.43. This is a normal value and indicates that ZBRA is financially healthy and should not expect problems in meeting its short term obligations.
ZBRA has a Current ratio of 1.43. This is in the lower half of the industry: ZBRA underperforms 77.60% of its industry peers.
ZBRA has a Quick Ratio of 1.03. This is a normal value and indicates that ZBRA is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of ZBRA (1.03) is worse than 76.80% of its industry peers.
Industry RankSector Rank
Current Ratio 1.43
Quick Ratio 1.03
ZBRA Yearly Current Assets VS Current LiabilitesZBRA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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6

3. Growth

3.1 Past

ZBRA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 68.66%, which is quite impressive.
The Earnings Per Share has been growing slightly by 0.88% on average over the past years.
Looking at the last year, ZBRA shows a quite strong growth in Revenue. The Revenue has grown by 8.66% in the last year.
ZBRA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 2.12% yearly.
EPS 1Y (TTM)68.66%
EPS 3Y-9.87%
EPS 5Y0.88%
EPS Q2Q%41.55%
Revenue 1Y (TTM)8.66%
Revenue growth 3Y-3.98%
Revenue growth 5Y2.12%
Sales Q2Q%11.32%

3.2 Future

The Earnings Per Share is expected to grow by 14.03% on average over the next years. This is quite good.
Based on estimates for the next years, ZBRA will show a small growth in Revenue. The Revenue will grow by 6.29% on average per year.
EPS Next Y13.52%
EPS Next 2Y12.65%
EPS Next 3Y10.42%
EPS Next 5Y14.03%
Revenue Next Year5.83%
Revenue Next 2Y5.72%
Revenue Next 3Y5.56%
Revenue Next 5Y6.29%

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
ZBRA Yearly Revenue VS EstimatesZBRA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B
ZBRA Yearly EPS VS EstimatesZBRA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10 20 30

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6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 17.42, the valuation of ZBRA can be described as rather expensive.
Based on the Price/Earnings ratio, ZBRA is valued a bit cheaper than the industry average as 77.60% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 28.18. ZBRA is valued slightly cheaper when compared to this.
With a Price/Forward Earnings ratio of 14.93, ZBRA is valued correctly.
Based on the Price/Forward Earnings ratio, ZBRA is valued a bit cheaper than 80.00% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.81, ZBRA is valued a bit cheaper.
Industry RankSector Rank
PE 17.42
Fwd PE 14.93
ZBRA Price Earnings VS Forward Price EarningsZBRA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

ZBRA's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. ZBRA is cheaper than 64.80% of the companies in the same industry.
ZBRA's Price/Free Cash Flow ratio is rather cheap when compared to the industry. ZBRA is cheaper than 84.80% of the companies in the same industry.
Industry RankSector Rank
P/FCF 13.64
EV/EBITDA 15.25
ZBRA Per share dataZBRA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80

4.3 Compensation for Growth

ZBRA's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
ZBRA has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)1.29
PEG (5Y)19.77
EPS Next 2Y12.65%
EPS Next 3Y10.42%

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0

5. Dividend

5.1 Amount

No dividends for ZBRA!.
Industry RankSector Rank
Dividend Yield N/A

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ZEBRA TECHNOLOGIES CORP-CL A

NASDAQ:ZBRA (5/2/2025, 8:00:02 PM)

After market: 255.95 0 (0%)

255.95

+6.31 (+2.53%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)04-29 2025-04-29/bmo
Earnings (Next)08-05 2025-08-05/bmo
Inst Owners92.29%
Inst Owner Change-0.3%
Ins Owners0.71%
Ins Owner Change3.65%
Market Cap13.02B
Analysts76.67
Price Target351.96 (37.51%)
Short Float %1.39%
Short Ratio1.04
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.58%
Min EPS beat(2)-0.59%
Max EPS beat(2)5.75%
EPS beat(4)3
Avg EPS beat(4)7.52%
Min EPS beat(4)-0.59%
Max EPS beat(4)13.76%
EPS beat(8)5
Avg EPS beat(8)4.12%
EPS beat(12)8
Avg EPS beat(12)2.71%
EPS beat(16)12
Avg EPS beat(16)3.81%
Revenue beat(2)1
Avg Revenue beat(2)0.23%
Min Revenue beat(2)-0.67%
Max Revenue beat(2)1.13%
Revenue beat(4)3
Avg Revenue beat(4)0.47%
Min Revenue beat(4)-0.67%
Max Revenue beat(4)1.13%
Revenue beat(8)4
Avg Revenue beat(8)-1.05%
Revenue beat(12)6
Avg Revenue beat(12)-1.15%
Revenue beat(16)8
Avg Revenue beat(16)-0.96%
PT rev (1m)-12.26%
PT rev (3m)-17.14%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.56%
EPS NY rev (1m)-0.91%
EPS NY rev (3m)-5.41%
Revenue NQ rev (1m)0.08%
Revenue NQ rev (3m)1.31%
Revenue NY rev (1m)-0.33%
Revenue NY rev (3m)-2.15%
Valuation
Industry RankSector Rank
PE 17.42
Fwd PE 14.93
P/S 2.61
P/FCF 13.64
P/OCF 12.85
P/B 3.63
P/tB N/A
EV/EBITDA 15.25
EPS(TTM)14.69
EY5.74%
EPS(NY)17.14
Fwd EY6.7%
FCF(TTM)18.76
FCFY7.33%
OCF(TTM)19.92
OCFY7.78%
SpS97.95
BVpS70.52
TBVpS-14.3
PEG (NY)1.29
PEG (5Y)19.77
Profitability
Industry RankSector Rank
ROA 6.63%
ROE 14.72%
ROCE 12.21%
ROIC 10.49%
ROICexc 12.25%
ROICexgc 62.57%
OM 15.36%
PM (TTM) 10.6%
GM 48.44%
FCFM 19.15%
ROA(3y)5.61%
ROA(5y)7.93%
ROE(3y)13.8%
ROE(5y)18.59%
ROIC(3y)11.59%
ROIC(5y)14.22%
ROICexc(3y)12.35%
ROICexc(5y)15.17%
ROICexgc(3y)83.03%
ROICexgc(5y)N/A
ROCE(3y)13.49%
ROCE(5y)16.56%
ROICexcg growth 3Y-36.88%
ROICexcg growth 5Y-17.49%
ROICexc growth 3Y-16.79%
ROICexc growth 5Y-8.38%
OM growth 3Y-5.09%
OM growth 5Y-0.99%
PM growth 3Y-10.68%
PM growth 5Y-2.66%
GM growth 3Y1.23%
GM growth 5Y0.68%
F-Score8
Asset Turnover0.63
Health
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 2.28
Debt/EBITDA 2.23
Cap/Depr 34.3%
Cap/Sales 1.18%
Interest Coverage 13.91
Cash Conversion 108.11%
Profit Quality 180.68%
Current Ratio 1.43
Quick Ratio 1.03
Altman-Z 3.69
F-Score8
WACC8.31%
ROIC/WACC1.26
Cap/Depr(3y)40.17%
Cap/Depr(5y)39.59%
Cap/Sales(3y)1.46%
Cap/Sales(5y)1.39%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)68.66%
EPS 3Y-9.87%
EPS 5Y0.88%
EPS Q2Q%41.55%
EPS Next Y13.52%
EPS Next 2Y12.65%
EPS Next 3Y10.42%
EPS Next 5Y14.03%
Revenue 1Y (TTM)8.66%
Revenue growth 3Y-3.98%
Revenue growth 5Y2.12%
Sales Q2Q%11.32%
Revenue Next Year5.83%
Revenue Next 2Y5.72%
Revenue Next 3Y5.56%
Revenue Next 5Y6.29%
EBIT growth 1Y30.77%
EBIT growth 3Y-8.88%
EBIT growth 5Y1.11%
EBIT Next Year21.88%
EBIT Next 3Y12.88%
EBIT Next 5Y12.34%
FCF growth 1Y1148.35%
FCF growth 3Y-1.88%
FCF growth 5Y8.86%
OCF growth 1Y25425%
OCF growth 3Y-1.78%
OCF growth 5Y8.14%