Cash flow Zebra Technologies Corporation

Equities

ZBRA

US9892071054

Electronic Equipment & Parts

Market Closed - Nasdaq Other stock markets 16:00:00 2026-01-16 EST			5-day change	1st Jan Change
251.21 ^USD	-2.95%		-3.19%	+3.46%

01-15	Wolfe Research Adjusts Zebra Technologies PT to $338 From $335, Maintains Outperform Rating	MT
01-13	Datex Achieves Zebra Technologies Validation	CI

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Published financial data: ZEBRA TECHNOLOGIES CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	4.45B	5.63B	5.78B	4.58B	4.98B
Total Revenues	4.45B	5.63B	5.78B	4.58B	4.98B
Cost of Goods Sold, Total	2.44B	3B	3.16B	2.46B	2.57B
Gross Profit	2B	2.63B	2.62B	2.12B	2.41B
Selling General & Admin Expenses, Total	787M	935M	982M	915M	981M
R&D Expenses	453M	567M	570M	519M	563M
Amortization of Goodwill and Intangible Assets - (IS)	78M	115M	136M	104M	104M
Other Operating Expenses, Total	1.32B	1.62B	1.69B	1.54B	1.65B
Operating Income	685M	1.01B	936M	585M	765M
Interest Expense, Total	-76M	-5M	-	-133M	-98M
Interest And Investment Income	-	-	25M	-	-
Net Interest Expenses	-76M	-5M	25M	-133M	-98M
Currency Exchange Gains (Loss)	-18M	-5M	-3M	-2M	5M
Other Non Operating Income (Expenses)	-2M	-4M	-5M	-12M	-8M
EBT, Excl. Unusual Items	589M	997M	953M	438M	664M
Restructuring Charges	-11M	-7M	-14M	-98M	-17M
Merger & Related Restructuring Charges	-23M	-25M	-21M	-6M	-6M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	5M	3M	-	-	-6M
Asset Writedown	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-374M	-	-
EBT, Incl. Unusual Items	560M	968M	544M	334M	635M
Income Tax Expense	56M	131M	81M	38M	107M
Earnings From Continuing Operations	504M	837M	463M	296M	528M
Net Income to Company	504M	837M	463M	296M	528M
Net Income - (IS)	504M	837M	463M	296M	528M
Net Income to Common Incl Extra Items	504M	837M	463M	296M	528M
Net Income to Common Excl. Extra Items	504M	837M	463M	296M	528M
Per Share Items
Net EPS - Basic	9.43	15.66	8.87	5.76	10.25
Basic EPS - Continuing Operations	9.43	15.66	8.87	5.76	10.25
Basic Weighted Average Shares Outstanding	53.44M	53.45M	52.21M	51.38M	51.49M
Net EPS - Diluted	9.35	15.52	8.8	5.72	10.18
Diluted EPS - Continuing Operations	9.35	15.52	8.8	5.72	10.18
Diluted Weighted Average Shares Outstanding	53.91M	53.9M	52.56M	51.71M	51.88M
Normalized Basic EPS	6.89	11.66	11.41	5.33	8.06
Normalized Diluted EPS	6.83	11.56	11.33	5.29	8
American Depositary Receipts Ratio (ADR)	0.03	0.03	0.03	0.03	0.03
Supplemental Items
EBITDA	831M	1.2B	1.14B	761M	937M
EBITA	763M	1.13B	1.07B	689M	869M
EBIT	685M	1.01B	936M	585M	765M
EBITDAR	900M	1.27B	1.23B	848M	1.01B
Total Revenues (As Reported)	4.45B	5.63B	5.78B	4.58B	4.98B
Effective Tax Rate - (Ratio)	10	13.53	14.89	11.38	16.85
Current Domestic Taxes	7M	75M	163M	10M	156M
Current Foreign Taxes	89M	124M	126M	63M	45M
Total Current Taxes	96M	199M	289M	73M	201M
Deferred Domestic Taxes	-30M	-60M	-190M	-12M	-93M
Deferred Foreign Taxes	-10M	-8M	-18M	-23M	-1M
Total Deferred Taxes	-40M	-68M	-208M	-35M	-94M
Normalized Net Income	368M	623M	596M	274M	415M
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	25M	35M	33M	31M	28M
Selling and Marketing Expenses	483M	587M	607M	581M	600M
General and Administrative Expenses	304M	348M	375M	334M	381M
Research And Development Expense From Footnotes	453M	567M	570M	519M	563M
Net Rental Expense, Total	69M	76M	88M	87M	70M
Imputed Operating Lease Interest Expense	29.24M	2.33M	-	39.89M	22.9M
Imputed Operating Lease Depreciation	39.76M	73.67M	-	47.11M	47.1M
Stock-Based Comp., COGS (Total)	6M	8M	6M	6M	9M
Stock-Based Comp., R&D Exp. (Total)	16M	28M	34M	25M	36M
Stock-Based Comp., S&M Exp. (Total)	16M	26M	22M	16M	27M
Stock-Based Comp., G&A Exp. (Total)	21M	31M	34M	19M	38M
Total Stock-Based Compensation	59M	93M	96M	66M	110M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	168M	332M	105M	137M	901M
Trading Asset Securities, Total	-	-	25M	34M	-
Total Cash And Short Term Investments	168M	332M	130M	171M	901M
Accounts Receivable, Total	542M	774M	796M	521M	692M
Other Receivables	16M	8M	26M	63M	20M
Total Receivables	558M	782M	822M	584M	712M
Inventory	511M	491M	860M	804M	693M
Prepaid Expenses	12M	49M	59M	-	-
Restricted Cash	24M	12M	12M	1M	-
Other Current Assets, Total	-	23M	-	112M	134M
Total Current Assets	1.27B	1.69B	1.88B	1.67B	2.44B
Gross Property Plant And Equipment	778M	776M	841M	900M	948M
Accumulated Depreciation	-369M	-373M	-407M	-422M	-476M
Net Property Plant And Equipment	409M	403M	434M	478M	472M
Long-term Investments	77M	101M	160M	162M	110M
Goodwill	2.99B	3.26B	3.9B	3.9B	3.89B
Other Intangibles, Total	402M	469M	630M	527M	422M
Accounts Receivable Long-Term	-	-	-	-	-
Loans Receivable Long-Term	-	-	-	-	-
Deferred Tax Assets Long-Term	139M	192M	407M	438M	512M
Deferred Charges Long-Term	23M	28M	35M	-	-
Other Long-Term Assets, Total	64M	68M	81M	134M	121M
Total Assets	5.38B	6.22B	7.53B	7.31B	7.97B
Liabilities
Accounts Payable, Total	601M	700M	811M	456M	633M
Accrued Expenses, Total	253M	373M	352M	237M	386M
Current Portion of Long-Term Debt	381M	84M	214M	185M	79M
Current Portion of Leases	30M	33M	37M	42M	36M
Current Income Taxes Payable	19M	12M	138M	7M	36M
Unearned Revenue Current, Total	308M	380M	425M	458M	453M
Other Current Liabilities	259M	218M	355M	213M	81M
Total Current Liabilities	1.85B	1.8B	2.33B	1.6B	1.7B
Long-Term Debt	910M	923M	1.81B	2.06B	2.09B
Long-Term Leases	129M	121M	139M	152M	155M
Unearned Revenue Non Current	273M	315M	333M	312M	304M
Deferred Tax Liability Non Current	-	6M	75M	67M	57M
Other Non Current Liabilities	68M	66M	108M	78M	70M
Total Liabilities	3.23B	3.23B	4.8B	4.27B	4.38B
Common Stock, Total	1M	1M	1M	1M	1M
Additional Paid In Capital	395M	462M	561M	615M	669M
Retained Earnings	2.74B	3.57B	4.04B	4.33B	4.86B
Treasury Stock	-919M	-1.02B	-1.8B	-1.86B	-1.9B
Comprehensive Income and Other	-69M	-29M	-66M	-54M	-44M
Total Common Equity	2.14B	2.98B	2.73B	3.04B	3.59B
Total Equity	2.14B	2.98B	2.73B	3.04B	3.59B
Total Liabilities And Equity	5.38B	6.22B	7.53B	7.31B	7.97B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	53.47M	53.08M	51.4M	51.38M	51.38M
ECS Total Common Shares Outstanding	53.46M	53.42M	51.45M	51.38M	51.51M
Book Value / Share	40.1	55.86	53.12	59.09	69.62
Tangible Book Value	-1.25B	-750M	-1.8B	-1.39B	-727M
Tangible Book Value Per Share	-23.31	-14.04	-34.91	-26.98	-14.11
Total Debt	1.45B	1.16B	2.2B	2.44B	2.36B
Net Debt	1.28B	829M	2.07B	2.27B	1.46B
Debt Equivalent Oper. Leases	552M	608M	704M	696M	560M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	117M	196M	293M	403M	248M
Inventories - Work In Process, Total	4M	3M	4M	4M	4M
Inventories - Finished Goods, Total	390M	292M	563M	397M	441M
Land - (BS)	7M	7M	7M	8M	7M
Buildings, Total	68M	75M	75M	86M	99M
Machinery, Total	273M	302M	342M	377M	410M
Full Time Employees	8.8K	9.8K	10.5K	9.75K	9.9K
Accumulated Allowance for Doubtful Accounts (Supple)	1M	1M	1M	1M	1M

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	504M	837M	463M	296M	528M
Depreciation & Amortization - CF	68M	72M	68M	72M	68M
Amortization of Goodwill and Intangible Assets - (CF)	78M	115M	136M	104M	104M
Depreciation & Amortization, Total	146M	187M	204M	176M	172M
Amortization of Deferred Charges, Total - (CF)	3M	2M	4M	-	-
(Gain) Loss on Sale of Investments - (CF)	33M	-30M	-89M	17M	-31M
Asset Writedown & Restructuring Costs	-	-	-	-	-
Stock-Based Compensation (CF)	51M	76M	88M	55M	89M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-39M	-70M	-209M	-33M	-80M
Change In Accounts Receivable	130M	-239M	-5M	249M	-181M
Change In Inventories	-42M	18M	-341M	50M	105M
Change In Accounts Payable	47M	96M	92M	-365M	176M
Change in Unearned Revenues	103M	113M	60M	12M	-13M
Change In Income Taxes	-5M	1M	108M	-168M	68M
Change in Other Net Operating Assets	31M	78M	113M	-293M	180M
Cash from Operations	962M	1.07B	488M	-4M	1.01B
Capital Expenditure	-67M	-59M	-75M	-87M	-59M
Cash Acquisitions	-548M	-452M	-881M	-	-
Divestitures	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-26M	-35M	-12M	-5M	2M
Cash from Investing	-641M	-546M	-968M	-92M	-57M
Long-Term Debt Issued, Total	302M	46M	1.28B	440M	651M
Total Debt Issued	302M	46M	1.28B	440M	651M
Long-Term Debt Repaid, Total	-342M	-303M	-247M	-245M	-694M
Total Debt Repaid	-342M	-303M	-247M	-245M	-694M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-200M	-57M	-751M	-52M	-47M
Other Financing Activities, Total	83M	-57M	-33M	-26M	-100M
Cash from Financing	-157M	-371M	253M	117M	-190M
Foreign Exchange Rate Adjustments	-2M	-	-	-	-3M
Net Change in Cash	162M	152M	-227M	21M	763M
Supplemental Items
Cash Interest Paid	38M	32M	58M	111M	55M
Cash Income Tax Paid (Refund)	107M	199M	168M	252M	124M
Levered Free Cash Flow	849M	843M	816M	-20.5M	808M
Unlevered Free Cash Flow	893M	844M	812M	62.62M	869M
Change In Net Working Capital	-327M	9M	-2M	458M	-168M
Net Debt Issued / Repaid	-40M	-257M	1.04B	195M	-43M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	8.49	10.9	8.51	4.93	6.26
Return on Total Capital	12.5	16.33	12.89	7.02	8.38
Return On Equity %	25.31	32.64	16.2	10.26	15.95
Return on Common Equity	25.31	32.64	16.2	10.26	15.95
Margin Analysis
Gross Profit Margin %	45.03	46.7	45.39	46.31	48.44
SG&A Margin	17.69	16.62	16.99	19.96	19.69
EBITDA Margin %	18.68	21.29	19.72	16.6	18.81
EBITA Margin %	17.15	20.01	18.54	15.03	17.45
EBIT Margin %	15.4	17.97	16.19	12.76	15.36
Income From Continuing Operations Margin %	11.33	14.87	8.01	6.46	10.6
Net Income Margin %	11.33	14.87	8.01	6.46	10.6
Net Avail. For Common Margin %	11.33	14.87	8.01	6.46	10.6
Normalized Net Income Margin	8.28	11.07	10.3	5.97	8.33
Levered Free Cash Flow Margin	19.08	14.98	14.12	-0.45	16.22
Unlevered Free Cash Flow Margin	20.08	15	14.05	1.37	17.45
Asset Turnover
Asset Turnover	0.88	0.97	0.84	0.62	0.65
Fixed Assets Turnover	11.48	13.86	13.81	10.05	10.49
Receivables Turnover (Average Receivables)	7.65	8.55	7.36	7.11	8.21
Inventory Turnover (Average Inventory)	4.96	5.99	4.67	2.96	3.43
Short Term Liquidity
Current Ratio	0.69	0.94	0.81	1.05	1.43
Quick Ratio	0.39	0.62	0.41	0.47	0.95
Operating Cash Flow to Current Liabilities	0.52	0.59	0.21	-0	0.59
Days Sales Outstanding (Average Receivables)	47.85	42.68	49.56	51.32	44.56
Days Outstanding Inventory (Average Inventory)	73.72	60.98	78.1	123.4	106.68
Average Days Payable Outstanding	85.01	79.7	78.21	96.14	81.11
Cash Conversion Cycle (Average Days)	36.56	23.95	49.45	78.57	70.13
Long Term Solvency
Total Debt/Equity	67.63	38.91	80.46	80.43	65.87
Total Debt / Total Capital	40.34	28.01	44.59	44.58	39.71
LT Debt/Equity	48.46	34.99	71.28	72.96	62.66
Long-Term Debt / Total Capital	28.91	25.19	39.5	40.43	37.78
Total Liabilities / Total Assets	60.11	51.99	63.7	58.45	54.99
EBIT / Interest Expense	9.01	202.2	-	4.4	7.81
EBITDA / Interest Expense	11.84	254.8	-	6.38	10.28
(EBITDA - Capex) / Interest Expense	10.96	243	-	5.72	9.67
Total Debt / EBITDA	1.61	0.91	1.79	2.88	2.35
Net Debt / EBITDA	1.42	0.65	1.68	2.68	1.45
Total Debt / (EBITDA - Capex)	1.74	0.96	1.91	3.21	2.49
Net Debt / (EBITDA - Capex)	1.54	0.68	1.79	2.98	1.54
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-0.82	26.51	2.74	-20.71	8.66
Gross Profit, 1 Yr. Growth %	-4.62	31.2	-0.15	-19.09	13.66
EBITDA, 1 Yr. Growth %	-7.56	44.16	-4.84	-33.25	23.13
EBITA, 1 Yr. Growth %	-7.74	47.58	-4.8	-35.73	26.12
EBIT, 1 Yr. Growth %	-5.39	47.59	-7.42	-37.5	30.77
Earnings From Cont. Operations, 1 Yr. Growth %	-7.35	66.07	-44.68	-36.07	78.38
Net Income, 1 Yr. Growth %	-7.35	66.07	-44.68	-36.07	78.38
Normalized Net Income, 1 Yr. Growth %	-5.91	69.27	-4.41	-53.94	51.6
Diluted EPS Before Extra, 1 Yr. Growth %	-6.22	65.99	-43.3	-35	77.97
Accounts Receivable, 1 Yr. Growth %	-12.72	42.8	2.84	-32.16	32.82
Inventory, 1 Yr. Growth %	7.81	-3.91	75.15	-6.51	-13.81
Net Property, Plant and Equip., 1 Yr. Growth %	11.75	-1.47	7.69	10.14	-1.26
Total Assets, 1 Yr. Growth %	14.09	15.63	21.14	-2.96	9.06
Tangible Book Value, 1 Yr. Growth %	17.77	-39.81	139.47	-22.83	-47.55
Common Equity, 1 Yr. Growth %	16.59	39.18	-8.41	11.09	18.12
Cash From Operations, 1 Yr. Growth %	40.44	11.12	-54.35	-100.82	-25.42K
Capital Expenditures, 1 Yr. Growth %	9.84	-11.94	27.12	16	-32.18
Levered Free Cash Flow, 1 Yr. Growth %	51.88	-0.69	-3.17	-102.52	-9.6K
Unlevered Free Cash Flow, 1 Yr. Growth %	47.26	-5.51	-3.78	-92.29	1.06K
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	2.69	12.01	14	-9.74	-7.18
Gross Profit, 2 Yr. CAGR %	0.55	11.87	14.46	-10.12	-4.1
EBITDA, 2 Yr. CAGR %	0.85	15.44	17.13	-20.3	-9.34
EBITA, 2 Yr. CAGR %	1.61	16.69	18.53	-21.78	-9.96
EBIT, 2 Yr. CAGR %	3.29	18.17	16.89	-23.93	-9.6
Earnings From Cont. Operations, 2 Yr. CAGR %	9.41	24.04	-4.15	-40.53	6.79
Net Income, 2 Yr. CAGR %	9.41	24.04	-4.15	-40.53	6.79
Normalized Net Income, 2 Yr. CAGR %	3.77	26.2	27.2	-33.82	-16.44
Diluted EPS Before Extra, 2 Yr. CAGR %	9.77	24.77	-2.99	-39.29	7.56
Accounts Receivable, 2 Yr. CAGR %	1.61	11.64	21.19	-17.96	-5.08
Inventory, 2 Yr. CAGR %	-0.87	1.78	29.73	27.96	-10.23
Net Property, Plant and Equip., 2 Yr. CAGR %	28.16	4.93	3.01	8.91	4.29
Total Assets, 2 Yr. CAGR %	11.3	14.86	18.35	8.42	2.87
Tangible Book Value, 2 Yr. CAGR %	-5.39	-15.8	20.06	35.94	-36.38
Common Equity, 2 Yr. CAGR %	26.73	27.38	12.9	0.87	14.55
Cash From Operations, 2 Yr. CAGR %	10.7	24.92	-28.78	-93.88	44.08
Capital Expenditures, 2 Yr. CAGR %	2.32	-1.65	5.8	21.43	-11.31
Levered Free Cash Flow, 2 Yr. CAGR %	18.53	22.81	-1.94	-84.39	-0.25
Unlevered Free Cash Flow, 2 Yr. CAGR %	17.65	17.96	-4.65	-72.76	3.46
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.12	10.08	8.83	1.01	-3.98
Gross Profit, 3 Yr. CAGR %	5.41	9.88	7.71	1.96	-2.8
EBITDA, 3 Yr. CAGR %	8.48	13.61	8.24	-2.89	-7.86
EBITA, 3 Yr. CAGR %	10.08	15.07	9.03	-3.34	-8.27
EBIT, 3 Yr. CAGR %	20.86	16.34	8.94	-5.12	-8.88
Earnings From Cont. Operations, 3 Yr. CAGR %	209.5	25.74	-5.23	-16.26	-14.24
Net Income, 3 Yr. CAGR %	209.5	25.74	-5.23	-16.26	-14.24
Normalized Net Income, 3 Yr. CAGR %	38.86	22.15	15.04	-9.4	-12.76
Diluted EPS Before Extra, 3 Yr. CAGR %	208	25.99	-4.08	-15.11	-13.11
Accounts Receivable, 3 Yr. CAGR %	4.2	13.81	8.63	-1.31	-3.66
Inventory, 3 Yr. CAGR %	3.72	-1.89	21.97	16.31	12.17
Net Property, Plant and Equip., 3 Yr. CAGR %	15.71	17.41	5.84	5.33	5.41
Total Assets, 3 Yr. CAGR %	7.93	12.72	16.92	10.77	8.63
Tangible Book Value, 3 Yr. CAGR %	-13.57	-18.63	19.29	3.61	-1.03
Common Equity, 3 Yr. CAGR %	36.99	30.75	14.12	12.29	6.32
Cash From Operations, 3 Yr. CAGR %	26.26	10.84	-10.69	-83.92	-1.78
Capital Expenditures, 3 Yr. CAGR %	10.25	-2.68	7.13	9.1	0
Levered Free Cash Flow, 3 Yr. CAGR %	19.66	11.74	13.46	-71.09	-1.32
Unlevered Free Cash Flow, 3 Yr. CAGR %	16.94	9.36	10.22	-58.76	0.99
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	4.03	9.5	9.21	1.68	2.12
Gross Profit, 5 Yr. CAGR %	4.03	9.86	8.94	1.39	2.82
EBITDA, 5 Yr. CAGR %	8.92	15.22	11.86	-1.41	0.83
EBITA, 5 Yr. CAGR %	10.04	16.94	13.39	-1.39	1
EBIT, 5 Yr. CAGR %	25.28	28.73	19.26	-1.84	1.11
Earnings From Cont. Operations, 5 Yr. CAGR %	26.11	43.62	93.65	-6.8	-0.6
Net Income, 5 Yr. CAGR %	26.11	43.62	93.65	-6.8	-0.6
Normalized Net Income, 5 Yr. CAGR %	159.55	64.01	34.07	-4.35	1.19
Diluted EPS Before Extra, 5 Yr. CAGR %	24.71	42.34	94.03	-5.92	0.42
Accounts Receivable, 5 Yr. CAGR %	-4.18	4.37	10.69	-0.15	2.19
Inventory, 5 Yr. CAGR %	5.18	7.31	13.43	9.11	7.89
Net Property, Plant and Equip., 5 Yr. CAGR %	6.54	6.66	10.45	13.93	5.22
Total Assets, 5 Yr. CAGR %	1.3	6.06	11.99	10.98	11.08
Tangible Book Value, 5 Yr. CAGR %	-11.95	-18.96	-1.43	-0.09	-7.23
Common Equity, 5 Yr. CAGR %	19.14	30.38	26.79	17.86	14.29
Cash From Operations, 5 Yr. CAGR %	51.13	22.98	0.41	-65.21	8.14
Capital Expenditures, 5 Yr. CAGR %	-11.3	-5.19	8.45	6.33	-0.66
Levered Free Cash Flow, 5 Yr. CAGR %	21.3	12.57	10.5	-49.17	7.65
Unlevered Free Cash Flow, 5 Yr. CAGR %	15.86	8.4	7.77	-37.28	7.46