ZBRA Zebra Technologies Corporation - Class A Common Stock

NASDAQ · Electrical Equipment · View on SEC EDGAR ↗
$359.84
Price · Aug 21, 2026
Fundamentals as of Aug 4, 2026

About Zebra Technologies Corporation - Class A Common Stock Company overview from Wikipedia

Zebra Technologies Corporation (ZBR), commonly known as Zebra, is an American multinational technology conglomerate corporation, specializing in smart data capture systems.

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Zebra Technologies Corporation (ZBR), commonly known as Zebra, is an American multinational technology conglomerate corporation, specializing in smart data capture systems.

As of 2025, Zebra holds nearly 8,000 patents and patent applications worldwide. Zebra (ZBRA) stock has been listed on the NASDAQ since its initial public offering (IPO) in 1991.

History

20th century

Zebra was incorporated in 1969 as Data Specialties Incorporated, a manufacturer of high-speed electromechanical products. The company changed its focus to specialty on-demand labeling and ticketing systems in 1982 and became Zebra Technologies Corporation in 1986. Zebra became a publicly traded company on the NASDAQ stock exchange in 1991.

In 1986, Zebra (then Data Specialties Incorporated) acquired Qwint Systems.

In 1998, Zebra Technologies merged with Eltron International, Inc.

21st century

In 2000, Comtec Information Systems was acquired by Zebra Technologies, followed in 2003 by the acquisition of Atlantek, Inc., which was a manufacturer of photo ID printers.

In 2004, the company expanded into RFID smart label manufacturing. In the following years, Zebra also acquired Swecoin, WhereNet Corp, Proveo AG, and Navis Holdings (later divested in 2011).

The company bought the Enterprise Solutions Group (ESG) in 2008 and renamed the group Zebra Enterprise Solutions in 2009. In the same year, Multispectral Solutions, Inc. was acquired. In 2012, the companies LaserBand, and StepOne Systems were purchased with a cash price of $1.5 million.

In 2013, the company acquired Hart Systems for $94 million in cash from the private equity firm Topspin Partners LBO.

In 2014, Zebra acquired Motorola Solutions' Enterprise Division in a $3.45 billion transaction, providing mobile computing and advanced data capture communications technologies and services. Zebra's acquisition of the Enterprise Division included the Symbol Technologies and Psion product lines. Also in 2014, Zebra provided its real-time location system (RTLS) in NFL stadiums to track players and officials and provide location-based data for the NFL's Next Gen Stats program. Zebra’s partnership with the NFL extends through the 2025 football season.

In 2018, the company acquired Xplore Technologies, a maker of ruggedized tablets and other hard-wearing hardware.

In 2019, Zebra acquired Temptime Corporation, a provider of temperature monitoring devices to the healthcare industry. That same year, Zebra also acquired Profitect, a retail software company that developed a product line used for tracking and identifying inventory losses.

In 2020, Zebra acquired Reflexis Systems, a provider of workforce scheduling and task management software to the retail, food service, hospitality, and banking industries for $575 Million.

In 2021, Zebra acquired Adaptive Vision (provider of graphical Machine Vision software), Fetch Robotics (manufacturer of autonomous mobile robots) and Antuit.ai (provider of AI-powered SaaS solutions specific to forecasting and merchandising for the retail and CPG industries).

In 2022, Zebra acquired Matrox Imaging, a developer of machine vision components and systems.

In December 2023, Zebra partnered with Verizon Business to create a software package that will allow for a faster private 5G network. Zebra tablets and computers will work on Verizon's private network, allowing for more network capacity and fast communication.

In 2023, Zebra unveiled Zebra Workcloud - its purpose-built suite of enterprise software applications, primarily serving in retail, banking and healthcare industries. Zebra also introduced the WS50 powered by Workcloud, the first wearable Android touch computer.

In August 2025, Zebra announced a $1.3 billion all-cash acquisition of Elo Touch Solutions, a touch screen technology maker.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

ZBRA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price
$359.83
Market Cap
$17.41B
P/E (TTM)
42.9
EPS (TTM)
$8.18
Revenue (TTM)
$5.40B
Div Yield
ROE
11.6%
Debt/Equity
0.7
52W Range
$199 – $386

ZBRA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $5.40B
10-point trend, +51.0%
2016-12-31 2025-12-31
EPS $8.18
10-point trend, +408.7%
2016-12-31 2025-12-31
Free Cash Flow $831M
10-point trend, +181.7%
2016-12-31 2025-12-31
Margins 7.8%
10-point trend, +4.6%
2016-12-31 2025-12-31

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric
5Y trend
ZBRA
Peer Median
P/E (TTM)
5-point trend, -22.6%
42.9
33.5
P/S (TTM)
5-point trend, -60.5%
3.2
4.9
P/B
5-point trend, -68.5%
4.9
3.8
EV / EBITDA
5-point trend, -37.9%
28.3
Price / FCF
5-point trend, -54.0%
21.0

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric
5Y trend
ZBRA
Peer Median
Gross Margin
5-point trend, +2.9%
48.0%
45.8%
Operating Margin
5-point trend, -25.5%
13.0%
Net Profit Margin
5-point trend, -47.7%
7.8%
12.8%
ROA
5-point trend, -64.8%
5.1%
6.9%
ROE
5-point trend, -59.7%
11.6%
13.0%
ROIC
5-point trend, -59.6%
8.6%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric
5Y trend
ZBRA
Peer Median
Debt / Equity
5-point trend, +110.0%
0.7
Current Ratio
5-point trend, +3.4%
1.0
1.8
Quick Ratio
5-point trend, -17.0%
0.5

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric
5Y trend
ZBRA
Peer Median
Revenue YoY
5-point trend, -4.1%
8.3%
Revenue CAGR 3Y
5-point trend, -4.1%
-2.3%
Revenue CAGR 5Y
5-point trend, -4.1%
3.9%
EPS YoY
5-point trend, -47.3%
-19.7%
Net Income YoY
5-point trend, -49.9%
-20.6%

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric
5Y trend
ZBRA
Peer Median
EPS (Diluted)
5-point trend, -47.3%
$8.18

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric
5Y trend
ZBRA
Peer Median

ZBRA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 25 analysts
  • Strong Buy 6 24.0%
  • Buy 12 48.0%
  • Hold 7 28.0%
  • Sell 0 0.0%
  • Strong Sell 0 0.0%

12-Month Price Target

16 analysts · 2026-08-21
Median target $414.00 +15.1%
Mean target $405.31 +12.6%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise
0.47%
Period EPS Actual EPS Est Surprise
June 30, 2026 $6.35 $4.44 1.9%
March 31, 2026 $4.75 $4.33 0.42%
Dec. 31, 2025 $4.33 $4.42 -0.09%
Sept. 30, 2025 $3.88 $3.83 0.05%
June 30, 2025 $3.61 $3.39 0.22%
March 31, 2025 $4.02 $3.69 0.33%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
ZBRA $12.04B 29.7 8.3% 7.8% 11.6% 48.0%
KEYS $36.97B 37.3 8.0% 15.8% 15.5%
TDY $23.89B 27.4 7.9% 14.6% 8.6%
AEIS $7.91B 54.5 21.4% 8.2% 11.3% 37.7%
CGNX $6.01B 52.9 8.7% 11.5% 7.6% 66.9%
RAL $5.75B -4.7 -4.0% -59.1% -52.3% 50.3%
NOVT $4.24B 80.9 3.3% 5.5% 5.2% 44.4%
VNT $5.29B 13.5 3.2% 13.2% 35.4%
ITRI $4.17B 14.3 -3.0% 12.7% 19.4% 37.7%
MIR 212.9 7.5% 3.1% 1.7% 47.4%
BMI $6.49B 36.4 10.9% 15.4% 20.4% 41.7%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 17
Annual Income Statement data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Revenue 12-point trend, +222.9% $5.40B $4.98B $4.58B $5.78B $5.63B $4.45B $4.49B $4.22B $3.72B $3.57B $3.65B $1.67B
Cost of Revenue 12-point trend, +213.9% $2.80B $2.57B $2.46B $3.16B $3.00B $2.44B $2.38B $2.24B $2.01B $1.93B $2.01B $893M
Gross Profit 12-point trend, +233.3% $2.59B $2.41B $2.12B $2.62B $2.63B $2.00B $2.10B $1.98B $1.71B $1.64B $1.64B $778M
R&D Expense 12-point trend, +292.7% $593M $563M $519M $570M $567M $453M $447M $444M $389M $376M $394M $151M
SG&A Expense 12-point trend, +213.8% $433M $381M $334M $375M $348M $304M $323M $328M $301M $307M $283M $138M
Operating Expenses 12-point trend, +174.7% $1.89B $1.67B $1.64B $2.10B $1.65B $1.35B $1.41B $1.37B $1.39B $1.56B $1.61B $689M
Operating Income 12-point trend, +686.5% $700M $742M $481M $529M $979M $651M $692M $610M $322M $80M $37M $89M
Interest Expense 8-point trend, -91.9% · · · · $5M $76M $89M $91M $227M $193M $193M $62M
Other Non-op 12-point trend, -1300.0% $-14M $-14M $-12M $-5M $-1M $3M $1M $10M $-6M $-11M $-1M $-1M
Pretax Income 12-point trend, +3194.1% $560M $635M $334M $544M $968M $560M $598M $524M $88M $-129M $-180M $17M
Income Tax 12-point trend, +1040.0% $141M $107M $38M $81M $131M $56M $54M $103M $71M $8M $-22M $-15M
Net Income 12-point trend, +1209.4% $419M $528M $296M $463M $837M $504M $544M $421M $17M $-137M $-158M $32M
EPS (Basic) 12-point trend, +1187.5% $8.24 $10.25 $5.75 $8.86 $15.66 $9.43 $10.08 $7.86 $0.33 $-2.65 $-3.10 $0.64
EPS (Diluted) 12-point trend, +1198.4% $8.18 $10.18 $5.72 $8.80 $15.52 $9.35 $9.97 $7.76 $0.32 $-2.65 $-3.10 $0.63
Shares (Basic) 12-point trend, +0.1% 50,820,589 51,494,957 51,378,051 52,207,903 53,446,399 53,441,375 53,991,249 53,591,655 53,021,761 51,579,112 50,996,297 50,789,173
Shares (Diluted) 12-point trend, -0.3% 51,212,395 51,879,709 51,710,962 52,558,712 53,902,430 53,913,245 54,594,417 54,299,812 53,688,832 51,579,112 50,996,297 51,379,698
EBITDA 12-point trend, +690.2% $700M $742M $481M $529M $979M $651M $692M $610M $322M $80M $37M $89M
Balance Sheet 31
Annual Balance Sheet data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Cash & Equivalents 12-point trend, -68.3% $125M $901M $137M $105M $332M $168M $30M $44M $62M $156M $192M $394M
Short-term Investments 2-point trend, -100.0% · · · · · · · · · · $0 $24M
Receivables 12-point trend, +19.4% $801M $692M $521M $768M $752M $508M $613M $520M $479M $625M $671M $671M
Inventory 12-point trend, +85.0% $729M $693M $804M $860M $491M $511M $474M $520M $458M $345M $397M $394M
Prepaid Expense 12-point trend, +107.5% $110M $134M $147M $124M $106M $70M $46M $54M $24M $64M $70M $53M
Other Current Assets 4-point trend, -39.7% · · · · · · · $38M $24M $41M $63M ·
Current Assets 12-point trend, +7.4% $1.80B $2.44B $1.67B $1.88B $1.69B $1.27B $1.20B $1.16B $1.06B $1.22B $1.33B $1.67B
PP&E (Net) 12-point trend, +38.4% $353M $305M $309M $278M $272M $274M $259M $249M $264M $292M $298M $255M
PP&E (Gross) 12-point trend, +91.7% $859M $781M $731M $685M $645M $643M $610M $546M $641M $598M $554M $448M
Accum. Depreciation 12-point trend, +162.2% $506M $476M $422M $407M $373M $369M $351M $297M $377M $306M $256M $193M
Goodwill 12-point trend, +89.8% $4.73B $3.89B $3.90B $3.90B $3.27B $2.99B $2.62B $2.50B $2.46B $2.46B $2.49B $2.49B
Intangibles 12-point trend, -21.4% $809M $422M $527M $630M $469M $402M $275M $232M $299M $480M $757M $1.03B
Other Non-current Assets 12-point trend, +154.8% $237M $231M $296M $276M $197M $164M $126M $87M $65M $67M $91M $93M
Total Assets 12-point trend, +53.5% $8.50B $7.97B $7.31B $7.53B $6.21B $5.38B $4.71B $4.34B $4.28B $4.63B $5.04B $5.54B
Accounts Payable 12-point trend, +112.5% $695M $633M $456M $811M $700M $601M $552M $552M $424M $413M $289M $327M
Accrued Liabilities 12-point trend, +32.5% $558M $503M $504M $744M $639M $559M $379M $322M $296M $323M $367M $421M
Current Liabilities 12-point trend, +94.3% $1.85B $1.70B $1.60B $2.33B $1.80B $1.85B $1.40B $1.30B $1.00B $949M $895M $953M
Capital Leases 8-point trend, +157000000.00 $157M $155M $152M $139M $121M $129M $100M $0 · · · ·
Deferred Tax 12-point trend, -84.0% $32M $57M $67M $75M $6M $0 $0 $8M $0 $3M $1M $200M
Other Non-current Liabilities 12-point trend, +56.8% $116M $70M $94M $108M $67M $97M $67M $89M $117M $116M $115M $74M
Total Liabilities 12-point trend, +9.2% $4.91B $4.38B $4.27B $4.80B $3.23B $3.23B $2.87B $3.00B $3.44B $3.84B $4.15B $4.50B
Long-term Debt 12-point trend, -20.8% $2.50B $2.17B $2.22B $2.02B $991M $1.25B $266M $1.59B $2.18B $2.65B $3.01B $3.16B
Total Debt 12-point trend, -21.6% $2.50B $2.17B $2.22B $2.02B $991M $1.25B $1.28B $1.59B $2.23B $2.65B $0 $3.19B
Common Stock Flat — no change across 12 periods $1M $1M $1M $1M $1M $1M $1M $1M $1M $1M $1M $1M
Paid-in Capital 12-point trend, +453.7% $814M $669M $615M $561M $462M $395M $339M $294M $257M $210M $194M $147M
Retained Earnings 12-point trend, +243.9% $5.28B $4.86B $4.33B $4.04B $3.57B $2.74B $2.23B $1.69B $1.25B $1.24B $1.38B $1.53B
Treasury Stock 12-point trend, +292.4% $2.49B $1.90B $1.86B $1.80B $1.02B $919M $689M $613M $620M $614M $631M $634M
AOCI 12-point trend, -100.0% $-18M $-44M $-54M $-66M $-29M $-69M $-44M $-35M $-52M $-45M $-48M $-9M
Stockholders' Equity 12-point trend, +245.0% $3.59B $3.59B $3.04B $2.73B $2.98B $2.14B $1.84B $1.33B $834M $792M $893M $1.04B
Liabilities + Equity 12-point trend, +53.5% $8.50B $7.97B $7.31B $7.53B $6.21B $5.38B $4.71B $4.34B $4.28B $4.63B $5.04B $5.54B
Shares Outstanding 12-point trend, -4.0% 49,592,946 51,506,059 51,378,862 51,451,500 53,415,275 53,462,082 54,002,932 53,871,184 53,236,095 52,884,588 52,161,851 51,654,337
Cash Flow 17
Annual Cash Flow data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
D&A 12-point trend, +128.4% $185M $172M $176M $204M $187M $146M $175M $175M $263M $304M $320M $81M
Stock-based Comp 12-point trend, +715.0% $163M $89M $55M $88M $76M $51M $48M $45M $35M $27M $31M $20M
Deferred Tax 11-point trend, -113.6% · $-94M $-35M $-208M $-68M $-40M $-42M $3M $-9M $-43M $-142M $-44M
Amort. of Intangibles 12-point trend, +111.1% $114M $104M $104M $136M $115M $78M $103M $97M $184M $229M $251M $54M
Restructuring 12-point trend, +383.3% $29M $17M $98M $14M $7M $11M $10M $11M $16M $19M $40M $6M
Operating Cash Flow 12-point trend, +269.8% $917M $1.01B $-4M $488M $1.07B $962M $685M $785M $478M $380M $122M $248M
CapEx 12-point trend, +120.5% $86M $59M $87M $75M $59M $67M $61M $64M $50M $77M $122M $39M
Investing Cash Flow 11-point trend, -883.1% $-1.46B $-57M $-92M $-968M $-546M $-641M $-335M $-137M $-51M $-39M $-148M ·
Debt Issued 12-point trend, -89.1% $347M $651M $440M $1.28B $46M $302M $637M $909M $1.37B $102M $0 $3.19B
Net Debt Issued 12-point trend, -89.7% $328M $-43M $195M $1.04B $-257M $-40M $-312M $-657M $-454M $102M $0 $3.19B
Stock Repurchased 11-point trend, +587000000.00 $587M $47M $52M $751M $57M $200M $47M $0 $0 · $0 $0
Net Stock Activity 9-point trend, -587000000.00 $-587M $-47M $-52M $-751M $-57M $-200M $-47M · · · $0 $0
Financing Cash Flow 11-point trend, -48.4% $-239M $-190M $117M $253M $-371M $-157M $-365M $-661M $-517M $-384M $-161M ·
Net Change in Cash 12-point trend, -334.4% $-776M $763M $21M $-227M $152M $162M $-14M $-18M $-94M $-36M $-202M $331M
Taxes Paid 3-point trend, -46.8% $134M $124M $252M · · · · · · · · ·
Free Cash Flow 12-point trend, +297.5% $831M $954M $-91M $413M $1.01B $895M $624M $721M $428M $295M $-12M $209M
Levered FCF 8-point trend, +924.2% · · · · $1.01B $827M $543M $648M $384M $90M $-181M $98M
Profitability 8
Annual Profitability data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Gross Margin 12-point trend, +3.2% 48.0% 48.4% 46.3% 45.4% 46.7% 45.0% 46.8% 47.0% 45.9% 45.9% 45.0% 46.6%
Operating Margin 12-point trend, +144.7% 13.0% 14.9% 10.5% 9.2% 17.4% 14.6% 15.4% 14.5% 8.6% 2.2% 1.0% 5.3%
Net Margin 12-point trend, +300.5% 7.8% 10.6% 6.5% 8.0% 14.9% 11.3% 12.1% 10.0% 0.46% -3.8% -4.3% 1.9%
Pretax Margin 12-point trend, +938.0% 10.4% 12.8% 7.3% 9.4% 17.2% 12.6% 13.3% 12.4% 2.4% -3.6% -4.9% 1.0%
EBITDA Margin 12-point trend, +144.7% 13.0% 14.9% 10.5% 9.2% 17.4% 14.6% 15.4% 14.5% 8.6% 2.2% 1.0% 5.3%
ROA 11-point trend, +424.7% 5.1% 6.9% 4.0% 6.7% 14.4% 10.0% 12.0% 9.8% 0.38% -2.8% · 0.97%
ROE 11-point trend, +259.0% 11.6% 15.1% 9.8% 17.2% 28.9% 24.7% 30.8% 33.1% 2.1% -16.3% · 3.2%
ROIC 11-point trend, +110.8% 8.6% 10.7% 8.1% 9.5% 21.3% 17.3% 20.2% 16.8% 2.0% 2.5% · 4.1%
Liquidity & Solvency 5
Annual Liquidity & Solvency data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Current Ratio 11-point trend, -44.6% 1.0 1.4 1.0 0.8 0.9 0.7 0.9 0.9 1.1 1.3 · 1.7
Quick Ratio 11-point trend, -56.1% 0.5 0.9 0.4 0.4 0.6 0.4 0.5 0.4 0.5 0.8 · 1.1
Debt / Equity 11-point trend, -77.3% 0.7 0.6 0.7 0.7 0.3 0.6 0.7 1.2 2.7 3.3 · 3.1
LT Debt / Equity 11-point trend, -78.5% 0.7 0.6 0.7 0.7 0.3 0.4 0.6 1.1 2.6 3.3 · 3.1
Interest Coverage 8-point trend, +12461.8% · · · · 195.8 8.6 7.8 6.7 1.4 0.4 0.2 1.6
Efficiency 3
Annual Efficiency data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Asset Turnover 11-point trend, +31.2% 0.7 0.7 0.6 0.8 1.0 0.9 1.0 1.0 0.8 0.7 · 0.5
Inventory Turnover 11-point trend, +13.8% 3.9 3.4 3.0 4.7 6.0 5.0 4.8 4.6 5.0 5.2 · 3.5
Receivables Turnover 11-point trend, +83.3% 7.2 8.2 7.1 7.6 8.9 7.9 7.9 8.4 6.7 5.5 · 3.9
Per Share 5
Annual Per Share data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Book Value / Share 11-point trend, +259.4% $72.35 $69.62 $59.09 $53.12 $55.86 $40.10 $34.05 $24.78 $15.67 $14.98 · $20.13
Revenue / Share 12-point trend, +224.1% $105.37 $96.01 $88.65 $109.99 $104.39 $82.50 $82.15 $77.68 $69.33 $69.29 $71.57 $32.51
Cash Flow / Share 12-point trend, +270.5% $17.91 $19.53 $-0.08 $9.28 $19.83 $17.84 $12.55 $14.46 $8.90 $7.21 $2.16 $4.83
Cash / Share 11-point trend, -67.0% $2.52 $17.49 $2.67 $2.04 $6.22 $3.14 $0.56 $0.82 $1.16 $2.95 · $7.63
EPS (TTM) 12-point trend, +1198.4% $8.18 $10.18 $5.72 $8.80 $15.52 $9.35 $9.97 $7.76 $0.32 $-2.65 $-3.10 $0.63
Growth Rates 9
Annual Growth Rates data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Revenue YoY 5-point trend, -68.6% 8.3% 8.7% -20.7% 2.7% 26.5% · · · · · · ·
Revenue CAGR 3Y 3-point trend, -324.8% -2.3% -4.0% 1.0% · · · · · · · · ·
Revenue CAGR 5Y 3.9% · · · · · · · · · · ·
EPS YoY 5-point trend, -129.8% -19.7% 78.0% -35.0% -43.3% 66.0% · · · · · · ·
EPS CAGR 3Y 3-point trend, +84.1% -2.4% -13.1% -15.1% · · · · · · · · ·
EPS CAGR 5Y -2.6% · · · · · · · · · · ·
Net Income YoY 5-point trend, -131.2% -20.6% 78.4% -36.1% -44.7% 66.1% · · · · · · ·
Net Income CAGR 3Y 3-point trend, +79.9% -3.3% -14.2% -16.3% · · · · · · · · ·
Net Income CAGR 5Y -3.6% · · · · · · · · · · ·
Valuation (TTM) 13
Annual Valuation (TTM) data for ZBRA
Metric Trend 202520242023202220212020201920182017201620152014
Revenue TTM 12-point trend, +222.9% $5.40B $4.98B $4.58B $5.78B $5.63B $4.45B $4.49B $4.22B $3.72B $3.57B $3.65B $1.67B
Net Income TTM 12-point trend, +1209.4% $419M $528M $296M $463M $837M $504M $544M $421M $17M $-137M $-158M $32M
Market Cap 11-point trend, +201.2% $12.04B $19.89B $14.04B $13.19B $31.79B $20.55B $13.79B $8.58B $5.53B $4.54B · $4.00B
Enterprise Value 11-point trend, +113.0% $14.42B $21.16B $16.13B $15.11B $32.45B $21.62B $15.04B $10.12B $7.69B $7.03B · $6.77B
P/E 12-point trend, -75.8% 29.7 37.9 47.8 29.1 38.4 41.1 25.6 20.5 324.4 -32.4 -22.5 122.9
P/S 11-point trend, -6.7% 2.2 4.0 3.1 2.3 5.7 4.6 3.1 2.0 1.5 1.3 · 2.4
P/B 11-point trend, -12.7% 3.4 5.5 4.6 4.8 10.7 9.6 7.5 6.4 6.6 5.7 · 3.8
P / Cash Flow 11-point trend, -18.4% 13.1 19.6 -3510.8 27.0 29.7 21.4 20.1 10.9 11.6 12.2 · 16.1
P / FCF 11-point trend, -24.2% 14.5 20.9 -154.3 31.9 31.5 23.0 22.1 11.9 12.9 15.4 · 19.1
EV / EBITDA 11-point trend, -73.0% 20.6 28.5 33.5 28.6 33.1 33.2 21.7 16.6 23.9 87.8 · 76.4
EV / FCF 11-point trend, -46.4% 17.4 22.2 -177.2 36.6 32.1 24.2 24.1 14.0 18.0 23.8 · 32.4
EV / Revenue 11-point trend, -34.1% 2.7 4.2 3.5 2.6 5.8 4.9 3.4 2.4 2.1 2.0 · 4.1
Earnings Yield 12-point trend, +316.0% 3.4% 2.6% 2.1% 3.4% 2.6% 2.4% 3.9% 4.9% 0.31% -3.1% -4.5% 0.81%

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement
2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $5.40B$4.98B$4.58B$5.78B$5.63B
Gross Margin % 48.0%48.4%46.3%45.4%46.7%
Operating Margin % 13.0%14.9%10.5%9.2%17.4%
Net Income $419M$528M$296M$463M$837M
Diluted EPS $8.18$10.18$5.72$8.80$15.52
Balance Sheet
2025-12-312024-12-312023-12-312022-12-312021-12-31
Debt / Equity 0.70.60.70.70.3
Current Ratio 1.01.41.00.80.9
Quick Ratio 0.50.90.40.40.6
Cash Flow
2025-12-312024-12-312023-12-312022-12-312021-12-31
Free Cash Flow $831M$954M$-91M$413M$1.01B

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Institutional owners (13F) 718 filers · $8.0B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
123 (+42 vs prior Q) 102 (-19 vs prior Q) 196 (-4 vs prior Q) 230 (-31 vs prior Q) +769K

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD CAPITAL MANAGEMENT LLC $819,860,614 3,114,262 10.24% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $702,211,563 2,667,369 8.77% Shares
STATE STREET CORP $496,151,379 1,884,644 6.20% Shares
Alyeska Investment Group, L.P. $328,674,318 1,248,478 4.10% Shares
FULLER & THALER ASSET MANAGEMENT, INC. $318,252,162 1,208,889 3.97% Shares
GEODE CAPITAL MANAGEMENT, LLC $313,388,593 1,192,719 3.91% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $280,818,389 1,066,696 3.51% Shares
VICTORY CAPITAL MANAGEMENT INC $232,912,440 884,724 2.91% Shares
MILLENNIUM MANAGEMENT LLC $216,785,396 823,465 2.71% Shares
DIMENSIONAL FUND ADVISORS LP $198,942,615 755,689 2.48% Shares
Boston Partners $189,377,130 719,354 2.36% Shares
LAZARD ASSET MANAGEMENT LLC $165,472,336 628,551 2.07% Shares
FMR LLC $161,459,991 613,310 2.02% Shares
Sumitomo Mitsui Trust Group, Inc. $160,947,423 611,363 2.01% Shares
Focus Partners Wealth $151,346,674 574,893 1.89% Shares
GOLDMAN SACHS GROUP INC $147,941,590 561,960 1.85% Shares
NORGES BANK $138,972,058 527,889 1.74% Shares
Fenimore Asset Management Inc $95,144,007 361,407 1.19% Shares
Swedbank AB $94,010,146 357,100 1.17% Shares
ALLIANCEBERNSTEIN L.P. $87,103,146 416,602 1.09% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $84,696,270 321,721 1.06% Shares
VANGUARD FIDUCIARY TRUST CO $70,427,315 267,520 0.88% Shares
RENAISSANCE TECHNOLOGIES LLC $66,318,090 251,911 0.83% Shares
SUMMITRY LLC $62,441,833 237,187 0.78% Shares
Pictet Asset Management Holding SA $60,621,143 230,271 0.76% Shares
Woodline Partners LP $59,526,245 226,112 0.74% Shares
MORGAN STANLEY $57,364,788 217,901 0.72% Shares
SG Capital Management LLC $56,096,757 213,085 0.70% Shares
Robeco Institutional Asset Management B.V. $50,204,998 190,705 0.63% Shares
RAYMOND JAMES FINANCIAL INC $49,486,825 187,977 0.62% Shares
ENVESTNET ASSET MANAGEMENT INC $45,555,368 173,043 0.57% Shares
Bridgewater Associates, LP $39,838,609 151,328 0.50% Shares
SG Capital Management LLC $39,489,000 150,000 0.49% Put option
BNP PARIBAS FINANCIAL MARKETS $39,489,000 1,500 0.49% Call option
BNP PARIBAS FINANCIAL MARKETS $39,489,000 1,500 0.49% Put option
PFA Pension, Forsikringsaktieselskab $39,462,712 149,900 0.49% Shares
J. Goldman & Co LP $37,934,186 144,094 0.47% Shares
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC $36,578,924 138,946 0.46% Shares
LONDON CO OF VIRGINIA $36,182,197 137,425 0.45% Shares
Oslo Pensjonsforsikring AS $33,784,682 128,332 0.42% Shares
BANK OF AMERICA CORP /DE/ $32,368,870 122,954 0.40% Shares
UBS Group AG $31,273,445 118,793 0.39% Shares
BLAIR WILLIAM & CO/IL $30,258,051 114,936 0.38% Shares
SILVERCREST ASSET MANAGEMENT GROUP LLC $30,139,627 114,485 0.38% Shares
Quantinno Capital Management LP $29,662,929 112,675 0.37% Shares
EXCHANGE TRADED CONCEPTS, LLC $27,037,329 102,702 0.34% Shares
VANGUARD GROUP INC $26,790,573 110,331 0.33% Shares
Vanguard Global Advisers, LLC $26,258,605 99,744 0.33% Shares
Swiss National Bank $25,573,076 97,140 0.32% Shares
CITADEL ADVISORS LLC $24,404,202 92,700 0.30% Put option
BlackRock, Inc. $24,231,767 92,045 0.30% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $23,482,792 89,200 0.29% Put option
RHUMBLINE ADVISERS $23,136,528 87,885 0.29% Shares
STRS OHIO $22,160,700 84,178 0.28% Shares
Heron Bay Capital Management $21,218,493 80,599 0.26% Shares
LOS ANGELES CAPITAL MANAGEMENT LLC $21,027,628 79,874 0.26% Shares
BNP PARIBAS FINANCIAL MARKETS $20,969,712 79,654 0.26% Shares
Cubist Systematic Strategies, LLC $20,660,652 69,527 0.26% Shares
Triodos Investment Management BV $20,534,280 78,000 0.26% Shares
BROWN BROTHERS HARRIMAN & CO $20,224,686 76,824 0.25% Shares
GOODNOW INVESTMENT GROUP, LLC $19,765,298 75,079 0.25% Shares
BARCLAYS PLC $19,752,923 75,032 0.25% Shares
California Public Employees Retirement System $19,564,167 74,315 0.24% Shares
ZWJ INVESTMENT COUNSEL INC $19,018,474 72,242 0.24% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $17,896,830 85,598 0.22% Shares
Lombard Odier Asset Management (Europe) Ltd $17,018,706 64,646 0.21% Shares
PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO $17,013,178 64,625 0.21% Shares
FIRST TRUST ADVISORS LP $16,354,545 62,124 0.20% Shares
Capital Investment Services of America, Inc. $15,911,171 60,439 0.20% Shares
Mitsubishi UFJ Asset Management Co., Ltd. $15,876,684 60,308 0.20% Shares
Thematics Asset Management $15,805,346 53,188 0.20% Shares
Impax Asset Management Group plc $15,137,450 57,500 0.19% Shares
MCDANIEL TERRY & CO $15,098,488 57,352 0.19% Shares
ISTHMUS PARTNERS, LLC $14,761,778 56,073 0.18% Shares
Corient Private Wealth LP $14,294,580 54,297 0.18% Shares
ROYAL BANK OF CANADA $13,541,000 51,435 0.17% Shares
Contour Asset Management LLC $13,272,779 50,417 0.17% Shares
Caption Management, LLC $13,163,000 50,000 0.16% Put option
ASSETMARK, INC $12,602,651 47,872 0.16% Shares
VANGUARD ASSET MANAGEMENT, Ltd $12,521,435 47,563 0.16% Shares
Point72 Asset Management, L.P. $12,260,018 46,570 0.15% Shares
JANE STREET GROUP, LLC $12,004,656 45,600 0.15% Call option
Holocene Advisors, LP $11,892,244 45,173 0.15% Shares
PRUDENTIAL FINANCIAL INC $11,857,757 45,042 0.15% Shares
BLI - Banque de Luxembourg Investments $11,771,740 45,900 0.15% Shares
Medina Value Partners, LLC $11,632,933 44,188 0.15% Shares
Gotham Asset Management, LLC $11,407,319 43,331 0.14% Shares
Busey Bank $11,301,871 42,930 0.14% Shares
Washington Trust Advisors, Inc. $11,190,919 42,509 0.14% Shares
STIFEL FINANCIAL CORP $11,190,404 42,507 0.14% Shares
ADAGE CAPITAL PARTNERS GP, L.L.C. $11,165,120 42,411 0.14% Shares
CITADEL ADVISORS LLC $11,115,100 42,221 0.14% Shares
AMERIPRISE FINANCIAL INC $11,081,404 42,093 0.14% Shares
STATE OF WISCONSIN INVESTMENT BOARD $11,064,291 42,028 0.14% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $10,977,942 41,700 0.14% Call option
LPL Financial LLC $10,823,988 41,116 0.14% Shares
Assenagon Asset Management S.A. $10,742,061 40,804 0.13% Shares
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM $10,731,794 40,765 0.13% Shares
Ensign Peak Advisors, Inc $10,667,032 40,519 0.13% Shares
Oribel Capital Management, LP $10,398,770 39,500 0.13% Shares

Company insiders 54 insiders · 37 officers · 17 directors

Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Bill Burns Chief Executive Officer May 7, 2025 M 46,913 0 0 $0
KAPLAN EDWARD L & CAROL K Chief Executive Officer Dec. 2, 2005 S 382,873 0 0 $0
Nathan Andrew Winters Chief Financial Officer May 5, 2025 F 15,431 0 0 $0
Olivier Leonetti SVP, Chief Financial Officer May 11, 2020 M 6,277 0 0 $0
Michael C Smiley Chief Financial Officer May 12, 2016 A 49,817 0 0 $0
Charles R Whitchurch Chief Financial Officer April 25, 2008 M 8,547 0 0 $0
John Dillon Division President Dec. 31, 2007 P 14,656 0 0 $0
Robert John Armstrong Jr Chief Marketing Officer Aug. 14, 2025 F 5,212 0 0 $0
Richard Edward Hudson Chief Revenue Officer May 5, 2025 F 6,817 0 0 $0
Joseph Ramsey White Chief Product & Solutions May 5, 2025 F 12,142 0 0 $0
Tamara Dionne Froese Chief Supply Chain Officer May 5, 2025 F 4,327 0 0 $0
Cristen L Kogl Chief Legal Officer May 5, 2025 F 17,258 0 0 $0
Jeffrey F Schmitz Chief People Officer May 5, 2025 F 11,255 0 0 $0
Colleen M O'Sullivan Chief Accounting Officer May 5, 2025 F 6,460 0 0 $0
Joachim Heel Chief Revenue Officer May 6, 2023 F 36,327 0 0 $0
Stephen Edgar Williams Chief Global Ops & Services Aug. 4, 2022 M 1,976 0 0 $0
Michael H Terzich SVP, Chief Administrative Ofcr May 26, 2020 S 22,266 0 0 $0
Holly R Tyson SVP, Chief HR Officer April 30, 2020 A 1,633 0 0 $0
Hugh K Gagnier SVP, Global Supply Chain Aug. 23, 2018 M 10,427 0 0 $0
KAPUT JIM L SVP, General Counsel & Secy Aug. 14, 2018 M 17,262 0 0 $0
Gina Vascsinec Chief Accounting Officer May 12, 2016 A 3,173 0 0 $0
Steve Boshold Acting Chief Accounting Office Feb. 29, 2016 A 168 0 0 $0
Thomas Joseph Collins SVP, Supply Chain May 29, 2015 D 1,029 0 0 $0
Robert Sanders SVP, General Management May 15, 2015 A 5,630 0 0 $0
Juliann Larimer SVP, Chief Marketing Officer May 15, 2015 A 5,255 0 0 $0
Girish D Rishi SVP, Enterprise Solutions April 24, 2015 D 0 0 0 $0
Philip Gerskovich SVP, New Growth Platforms Aug. 22, 2014 M 18,271 0 0 $0
Todd R Naughton VP Finance Aug. 12, 2014 M 2,701 0 0 $0
Terrance L Collins SVP, Human Resources June 20, 2014 F 642 0 0 $0
Gerhard Cless Executive Vice President Dec. 20, 2012 S 67,106 0 0 $0
Joanne Townsend VP Human Resources Nov. 2, 2012 D 845 0 0 $0
William J Walsh SVP and GM, ZES Aug. 31, 2010 M 18,636 0 0 $0
Noel Elfant VP, General Counsel & Secy May 7, 2009 A 11,869 0 0 $0
Veraje Anjargolian VP & General Manager, CPS Oct. 14, 2008 P 6,000 0 0 $0
Bruce R Ralph VP, Human Resources Oct. 20, 2007 F 3,108 0 0 $0
John H Kindsvater Sr. VP Corporate Development March 4, 2005 M 3,021 0 0 $0
Michael T Edicola VP Human Resources Dec. 23, 2003 M 0 0 0 $0
Janice M Roberts Director May 19, 2026 A 7,134 0 1 $-748,620
Mary T Mcdowell Director Aug. 7, 2025 A 569 0 0 $0
Satish Dhanasekaran Director May 8, 2025 A 2,356 0 0 $0
Kenneth Bradley Miller Director May 8, 2025 A 1,531 0 0 $0
Frank Blaise Modruson Director May 8, 2025 A 15,360 0 0 $0
Nelda J Connors Director May 8, 2025 A 3,177 0 0 $0
Michael A Smith Director May 8, 2025 A 10,695 0 0 $0
Ross W Manire Director May 8, 2025 A 15,808 0 0 $0
GUSTAFSSON ANDERS Director May 8, 2025 A 208,530 0 0 $0
Richard L Keyser Director Aug. 7, 2023 P 18,980 0 0 $0
Chirantan Jitendra Desai Director May 12, 2022 A 5,985 0 0 $0
Andrew K Ludwick Director March 5, 2020 M 6,715 0 0 $0
POTTER ROBERT J Director March 26, 2015 G 1,391 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

Activists & 5%+ owners 1 position

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
ZEBRA TECHNOLOGIES CORPORATION ×4 filings March 27, 2002 Initial filing SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 136 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
DAT · ProShares Trust 4.56% 1,040 NS May 31, 2026 N-PORT
MAKX · ProShares Trust 3.20% 699 NS May 31, 2026 N-PORT
RSPT · Invesco Exchange-Traded Fund Trust 2.14% 350,361 SH Aug. 20, 2026 Daily
RUNN · Strategic Trust 1.89% 26,860 NS May 31, 2026 N-PORT
SPHB · Invesco Exchange-Traded Fund Trust … 1.50% 40,113 SH Aug. 20, 2026 Daily
ROBO · EXCHANGE TRADED CONCEPTS TRUST 1.11% 86,530 NS April 30, 2026 N-PORT
QQQJ · Invesco Exchange-Traded Fund Trust … 0.82% 27,595 SH Aug. 20, 2026 Daily
HIBL · Direxion Shares ETF Trust 0.56% 1,951 NS April 30, 2026 N-PORT
LCLG · Advisors Series Trust 0.54% 2,410 NS April 30, 2026 N-PORT
ILDR · First Trust Exchange-Traded Fund VI… 0.51% 6,048 NS May 31, 2026 N-PORT
PKW · Invesco Exchange-Traded Fund Trust 0.51% 25,345 SH Aug. 20, 2026 Daily
TMFX · RBB Fund, Inc. 0.50% 658 NS May 31, 2026 N-PORT
FXR · First Trust Exchange-Traded AlphaDE… 0.46% 14,251 NS April 30, 2026 N-PORT
IQSM · New York Life Investments ETF Trust 0.46% 6,415 NS April 30, 2026 N-PORT
ITAN · EA Series Trust 0.40% 1,473 NS May 29, 2026 N-PORT
SZNE · Pacer Funds Trust 0.33% 194 NS April 30, 2026 N-PORT
BKMC · BNY Mellon ETF Trust 0.31% 8,629 NS April 30, 2026 N-PORT
RSP · Invesco Exchange-Traded Fund Trust 0.30% 859,516 SH Aug. 20, 2026 Daily
ISCG · iShares Trust 0.28% 7,921 SH Aug. 20, 2026 Daily
VBR · VANGUARD INDEX FUNDS 0.27% 692,130 SH Aug. 19, 2026 Daily
ISCB · iShares Trust 0.26% 2,161 SH Aug. 20, 2026 Daily
ISCV · iShares Trust 0.26% 5,089 SH Aug. 20, 2026 Daily
ESML · iShares Trust 0.24% 19,683 SH Aug. 20, 2026 Daily
AIQ · Global X Funds 0.23% 103,024 NS May 31, 2026 N-PORT
SMMD · iShares Trust 0.23% 24,365 SH Aug. 20, 2026 Daily
FYEE · Fidelity Greenwood Street Trust 0.22% 1,627 NS April 30, 2026 N-PORT
IYJ · iShares Trust 0.20% 10,973 SH Aug. 20, 2026 Daily
FBUF · Fidelity Greenwood Street Trust 0.20% 166 NS April 30, 2026 N-PORT
AFMC · First Trust Exchange-Traded Fund VI… 0.20% 1,324 NS May 31, 2026 N-PORT
FTLS · First Trust Exchange-Traded Fund III 0.19% 19,559 NS April 30, 2026 N-PORT
APUE · Trust for Professional Managers 0.19% 19,417 NS May 31, 2026 N-PORT
CSM · ProShares Trust 0.18% 3,797 NS May 31, 2026 N-PORT
FHEQ · Fidelity Greenwood Street Trust 0.17% 6,197 NS April 30, 2026 N-PORT
GINN · Goldman Sachs ETF Trust 0.17% 1,450 NS May 31, 2026 N-PORT
OALC · Unified Series Trust 0.17% 1,646 NS May 31, 2026 N-PORT
AFLG · First Trust Exchange-Traded Fund VI… 0.16% 4,332 NS May 31, 2026 N-PORT
IWS · iShares Trust 0.16% 72,125 SH Aug. 20, 2026 Daily
WSML · iShares Trust 0.16% 2,968 SH Aug. 20, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.15% 1,089,958 SH Aug. 19, 2026 Daily
FNX · First Trust Exchange-Traded AlphaDE… 0.15% 8,682 NS April 30, 2026 N-PORT
DFAT · Dimensional ETF Trust 0.15% 88,694 NS April 30, 2026 N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS 0.14% 4,369 NS May 31, 2026 N-PORT
LGDX · Tidal Trust III 0.12% 753 NS April 30, 2026 N-PORT
IWR · iShares Trust 0.12% 194,887 SH Aug. 20, 2026 Daily
VALQ · AMERICAN CENTURY ETF TRUST 0.11% 1,635 NS May 31, 2026 N-PORT
PEXL · Pacer Funds Trust 0.11% 214 NS April 30, 2026 N-PORT
ACVF · ETF Opportunities Trust 0.10% 675 NS April 30, 2026 N-PORT
VGT · VANGUARD WORLD FUND 0.10% 628,669 SH Aug. 19, 2026 Daily
AVMC · AMERICAN CENTURY ETF TRUST 0.10% 1,648 NS May 31, 2026 N-PORT
FTEC · FIDELITY COVINGTON TRUST 0.10% 76,423 NS April 30, 2026 N-PORT