NasdaqGS:ZBRA

Stock Analysis Report

Executive Summary

Zebra Technologies Corporation, together with its subsidiaries, designs, manufactures, and sells a range of automatic identification and data capture (AIDC) products worldwide.

Snowflake

Fundamentals

Solid track record with limited growth.


Similar Companies

Share Price & News

How has Zebra Technologies's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

6.3%

ZBRA

3.8%

US Electronic

1.0%

US Market


1 Year Return

22.4%

ZBRA

15.9%

US Electronic

8.0%

US Market

Return vs Industry: ZBRA exceeded the US Electronic industry which returned 15.9% over the past year.

Return vs Market: ZBRA exceeded the US Market which returned 8% over the past year.


Shareholder returns

ZBRAIndustryMarket
7 Day6.3%3.8%1.0%
30 Day1.0%3.9%-0.07%
90 Day11.2%2.7%-1.0%
1 Year22.4%22.4%17.1%15.9%10.4%8.0%
3 Year214.5%214.5%54.6%50.2%46.2%36.7%
5 Year195.4%195.4%88.4%79.1%64.3%46.2%

Price Volatility Vs. Market

How volatile is Zebra Technologies's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Zebra Technologies undervalued compared to its fair value and its price relative to the market?

4.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ZBRA ($205.78) is trading below our estimate of fair value ($215.03)

Significantly Below Fair Value: ZBRA is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ZBRA is poor value based on its PE Ratio (23x) compared to the Electronic industry average (19.5x).

PE vs Market: ZBRA is poor value based on its PE Ratio (23x) compared to the US market (17.6x).


Price to Earnings Growth Ratio

PEG Ratio: ZBRA is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: ZBRA is overvalued based on its PB Ratio (7.1x) compared to the US Electronic industry average (2x).


Next Steps

Future Growth

How is Zebra Technologies forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

11.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ZBRA's forecast earnings growth (11.7% per year) is above the savings rate (2.7%).

Earnings vs Market: ZBRA's earnings (11.7% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: ZBRA's earnings are forecast to grow, but not significantly.

Revenue vs Market: ZBRA's revenue (4.4% per year) is forecast to grow slower than the US market (7.2% per year).

High Growth Revenue: ZBRA's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ZBRA's Return on Equity is forecast to be high in 3 years time (30.4%)


Next Steps

Past Performance

How has Zebra Technologies performed over the past 5 years?

50.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ZBRA's earnings have grown significantly by 50.5% per year over the past 5 years.

Accelerating Growth: ZBRA's earnings growth over the past year (182.2%) exceeds its 5-year average (50.5% per year).

Earnings vs Industry: ZBRA earnings growth over the past year (182.2%) exceeded the Electronic industry 58.6%.


Return on Equity

High ROE: Whilst ZBRA's Return on Equity (30.85%) is high, this metric is skewed due to their high level of debt.


Return on Assets

ROA vs Industry: ZBRA has a higher Return on Assets than the Electronic industry average last year.


Return on Capital Employed

ROCE Improving: ZBRA has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Zebra Technologies's financial position?


Financial Position Analysis

Short Term Liabilities: ZBRA's short term assets ($1.2B) do not cover its short term liabilities ($1.2B)

Long Term Liabilities: ZBRA's short term assets (1.2B) do not cover its long term liabilities (1.9B)


Debt to Equity History and Analysis

Debt Level: ZBRA's debt to equity ratio (111.2%) is considered high

Reducing Debt: ZBRA's debt to equity ratio has increased from 0.2% to 111.2% over the past 5 years.

Debt Coverage: ZBRA's debt is well covered by operating cash flow (41.2%).

Interest Coverage: ZBRA's interest payments on its debt are well covered by EBIT (6x coverage).


Balance Sheet

Inventory Level: ZBRA has a low level of unsold assets or inventory.

Debt Coverage by Assets: ZBRA's debt is not covered by short term assets (assets are 0.7x debt).


Next Steps

Dividend

What is Zebra Technologies's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.5%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate ZBRA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ZBRA's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if ZBRA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ZBRA's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ZBRA's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Zebra Technologies's salary, the management and board of directors tenure and is there insider trading?

4.3yrs

Average management tenure


CEO

Anders Gustafsson (59yo)

12.1yrs

Tenure

US$9,496,092

Compensation

Mr. Anders Gustafsson has been the Chief Executive Officer of Zebra Technologies Corporation, a holding company of Navis LLC since September 4, 2007. Mr. Gustafsson serves as the Chief Executive Officer at ...


CEO Compensation Analysis

Compensation vs. Market: Anders's total compensation ($USD9.50M) is about average for companies of similar size in the US market ($USD11.18M).

Compensation vs Earnings: Anders's compensation has increased by more than 20% in the past year.


Management Age and Tenure

4.3yrs

Average Tenure

53yo

Average Age

Experienced Management: ZBRA's management team is considered experienced (4.3 years average tenure).


Board Age and Tenure

11.4yrs

Average Tenure

63.5yo

Average Age

Experienced Board: ZBRA's board of directors are seasoned and experienced ( 11.4 years average tenure).


Insider Trading

Insider Buying: ZBRA insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$303,60413 Sep 19
Colleen O'Sullivan
EntityIndividual
Role
Chief Accounting Officer
VP & Chief Accounting Officer
Shares1,549
Max PriceUS$196.00
SellUS$408,65521 Aug 19
Chirantan Desai
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,978
Max PriceUS$206.60
SellUS$913,61520 Jun 19
Michael Cho
EntityIndividual
Shares4,556
Max PriceUS$200.53
SellUS$1,005,25019 Jun 19
William Burns
EntityIndividual
Role
Senior Key Executive
Senior VP
Shares5,000
Max PriceUS$201.05
SellUS$552,12919 Jun 19
Olivier Leonetti
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares2,745
Max PriceUS$201.14
SellUS$247,43119 Jun 19
Cristen Kogl
EntityIndividual
Shares1,231
Max PriceUS$201.00
SellUS$4,009,00019 Jun 19
Anders Gustafsson
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares20,000
Max PriceUS$200.45
SellUS$773,13518 Jun 19
Jeffrey Schmitz
EntityIndividual
Shares4,019
Max PriceUS$192.37
SellUS$1,780,95912 Jun 19
Michael Terzich
EntityIndividual
Role
Chief Administrative Officer
Senior VP & Chief Administrative Officer
Shares9,175
Max PriceUS$194.11
SellUS$682,50012 Jun 19
Olivier Leonetti
EntityIndividual
Role
Chief Financial Officer
Chief Financial Officer
Shares3,500
Max PriceUS$195.00
SellUS$2,004,12014 Mar 19
Richard Keyser
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares9,500
Max PriceUS$210.96
SellUS$385,92901 Mar 19
Jeffrey Schmitz
EntityIndividual
Shares1,913
Max PriceUS$201.74
SellUS$5,767,11627 Feb 19
Anders Gustafsson
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares28,027
Max PriceUS$205.77
SellUS$2,569,03526 Feb 19
Michael Smith
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares12,500
Max PriceUS$206.10
SellUS$156,78826 Feb 19
William Burns
EntityIndividual
Role
Senior Key Executive
Senior VP
Shares764
Max PriceUS$205.22
SellUS$2,426,74521 Feb 19
Michael Smith
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares12,011
Max PriceUS$202.73
SellUS$2,623,82421 Feb 19
Anders Gustafsson
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares13,073
Max PriceUS$200.73
SellUS$6,053,30916 Nov 18
Andrew Ludwick
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares34,000
Max PriceUS$179.50
SellUS$254,84913 Nov 18
Michael Cho
EntityIndividual
Shares1,393
Max PriceUS$182.95
SellUS$452,30013 Nov 18
Joachim Heel
EntityIndividual
Role
Head of Sales
Senior Vice President of Global Sales
Shares2,480
Max PriceUS$182.47

Ownership Breakdown


Management Team

  • Anders Gustafsson (59yo)

    CEO & Director

    • Tenure: 12.1yrs
    • Compensation: US$9.50m
  • Mike Terzich (57yo)

    Senior VP & Chief Administrative Officer

    • Tenure: 4.8yrs
    • Compensation: US$1.78m
  • Joe Heel (53yo)

    Senior Vice President of Global Sales

    • Tenure: 5.1yrs
    • Compensation: US$2.20m
  • Colleen O'Sullivan (52yo)

    VP & Chief Accounting Officer

    • Tenure: 3.2yrs
  • Mike Steele (46yo)

    Vice President of Investor Relations

    • Tenure: 0yrs
  • Olivier Leonetti (54yo)

    Chief Financial Officer

    • Tenure: 2.9yrs
    • Compensation: US$3.09m
  • Bill Burns (51yo)

    Senior VP

    • Tenure: 4.3yrs
    • Compensation: US$2.60m
  • Bill Cate

    Vice President of Channel Strategy & Operations

    • Tenure: 0yrs
  • Tom Bianculli

    Chief Technology Officer

    • Tenure: 3.1yrs
  • Deepak Kaul

    Chief Information Officer

    • Tenure: 0yrs

Board Members

  • Janice Roberts (63yo)

    Independent Director

    • Tenure: 6yrs
    • Compensation: US$270.14k
  • Richard Keyser (76yo)

    Independent Director

    • Tenure: 11.3yrs
    • Compensation: US$287.64k
  • Andy Ludwick (73yo)

    Independent Director

    • Tenure: 11.4yrs
    • Compensation: US$270.14k
  • Ross Manire (67yo)

    Independent Director

    • Tenure: 16.3yrs
    • Compensation: US$277.64k
  • Michael Smith (64yo)

    Independent Chairman of the Board

    • Tenure: 12.1yrs
    • Compensation: US$380.14k
  • Anders Gustafsson (59yo)

    CEO & Director

    • Tenure: 12.1yrs
    • Compensation: US$9.50m
  • CJ Desai (48yo)

    Independent Director

    • Tenure: 3.8yrs
    • Compensation: US$270.14k
  • Frank Modruson (59yo)

    Independent Director

    • Tenure: 5.7yrs
    • Compensation: US$270.14k

Company Information

Zebra Technologies Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Zebra Technologies Corporation
  • Ticker: ZBRA
  • Exchange: NasdaqGS
  • Founded: 1969
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: US$11.136b
  • Shares outstanding: 54.12m
  • Website: https://www.zebra.com

Number of Employees


Location

  • Zebra Technologies Corporation
  • 3 Overlook Point
  • Lincolnshire
  • Illinois
  • 60069
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ZBRANasdaqGS (Nasdaq Global Select)YesClass A Common StockUSUSDAug 1991
ZT1ADB (Deutsche Boerse AG)YesClass A Common StockDEEURAug 1991
ZBRA *BMV (Bolsa Mexicana de Valores)YesClass A Common StockMXMXNAug 1991

Biography

Zebra Technologies Corporation, together with its subsidiaries, designs, manufactures, and sells a range of automatic identification and data capture (AIDC) products worldwide. The company operates through ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:45
End of Day Share Price2019/10/21 00:00
Earnings2019/06/29
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.