ZBRA Stock Overview
Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide.
Zebra Technologies Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$271.35|
|52 Week High||US$615.00|
|52 Week Low||US$262.84|
|1 Month Change||-11.87%|
|3 Month Change||-7.69%|
|1 Year Change||-48.38%|
|3 Year Change||36.01%|
|5 Year Change||143.58%|
|Change since IPO||6,590.82%|
Recent News & Updates
Is Now The Time To Look At Buying Zebra Technologies Corporation (NASDAQ:ZBRA)?
Today we're going to take a look at the well-established Zebra Technologies Corporation ( NASDAQ:ZBRA ). The company's...
Zebra Technologies: An Interesting Prospect At An Affordable Price
Zebra Technologies has proven itself over the past several years, with revenue and profitability generally looking promising. While profitability has been hit this year, much of that pain comes from one-time events. ZBRA shares are quite affordable right now, especially compared to similar firms. Whether you like it or not, the future will be very much focused on data. At the end of the day, data is incredibly valuable because of what it tells us and the decisions we can make from it. It stands to reason, then, that there would eventually develop a large number of companies dedicated to working with data in some way, shape, or form. One interesting prospect in this space there has been growing at a nice clip in recent years is Zebra Technologies Corporation (ZBRA). The company has its hands in a variety of niche markets, with all of its operations centered around two operating segments. Unlike many other data-oriented firms, however, Zebra Technologies captures most of its revenue not from providing data services, but instead from producing physical products that use, analyze, and manipulate data. Long term, the company is likely to do quite well for itself. In addition, shares of the business, while not exactly cheap, do look reasonably priced and they are especially cheap compared to similar firms. Overall, the company likely does offer decent upside potential for long-term investors. And as such, I have decided to rate the enterprise a soft 'buy' for now, reflecting my belief that it will probably outperform the market, if only slightly, for the foreseeable future. Zebra Technologies - Data is everything To best understand Zebra Technologies, investors would be wise to break the company's operations down into its two operating segments. The first of these is its Asset Intelligence & Tracking segment. This unit is responsible for a variety of functions. One example falls under the barcode and card printing category. Through this, the company produces printers that, in turn, produce high-quality labels, wristbands, tickets, receipts, and plastic cards on demand. These printers are used for a wide variety of activities, such as routing and tracking, patient safety, transaction processing, personal identification, product authentication, and more. According to management, they use thermal printing technology in their printers that results in the creation of images by heating certain pixels of an electrical print head to produce an image of a ribbon or heat-sensitive substrate. They also provide dye-sublimination thermal card printers under this unit. Other supplies the company produces include customized thermal labels, receipts, ribbons, plastic cards, and even RFID tags that can be used with their printers. The company also generates revenue from providing services associated with these products, and other activities. It's worth noting that this is the smaller of the two segments. Last year, it accounted for just 29.9% of the company's revenue and 33% of its profits. Next in line, we have the Enterprise Visibility & Mobility segment. Under this umbrella, the company has a few different product categories. The first of these is the mobile computing category. Through this, the company sells enterprise-grade mobile computing products and accessories that have a variety of use cases. These can be used in industrial applications for things like inventory management in warehouses and distribution centers, field service, post and parcel tracking, and more. Its mobile computing products largely focus on the Android operating system, and they often incorporate barcode scanning, GPS, and RFID features within them. Another product category is referred to as data capture, RFID, fixed industrial scanning, and machine vision. Through this, the company sells barcode scanners, RFID readers, industrial machine vision cameras, and fixed industrial scanners. Through this segment, the company also provides various services associated with these products, plus it provides workflow optimization solutions centered around software, robotic automation, and more. Last year, this segment accounted for 70.1% of the company's revenue and 67% of its profits. Author - SEC EDGAR Data Over the past few years, the management team at Zebra Technologies has done a really good job growing the company. Revenue increased from $3.72 billion in 2017 to $5.63 billion in 2021. This increase in sales has been driven by a number of factors, including organic growth. In fact, organic growth has been the single largest source of expansion recently. In 2021, for instance, sales were 26.5% higher than what they were just one year earlier. Management said that overall organic net sales increased by 23.2% that year. The rest of the increase, meanwhile, was associated with favorable currency changes and acquisitions. On the bottom line, the picture for the company has also improved over the years. Net income has increased from $17 million in 2017 to $837 million last year. Of course, we should also pay attention to other profitability metrics as well. Consider operating cash flow which, between 2017 and 2021, ballooned from $478 million to $1.07 billion. Over that same window of time, EBITDA for the company expanded from $651 million to just under $1.20 billion. Author - SEC EDGAR Data Naturally, we should also be paying attention to what's taking place in the current fiscal year. For the first half of the year, revenue came in at $2.90 billion. That represents an increase of 6.5% over the $2.72 billion generated in the first half of 2021. Although revenue increased, the company has experienced some issues regarding profitability. Net income, for instance, dropped from $447 million to $107 million. The company did suffer some from a decline in its gross margin, a figure that declined from 48.2% of revenue in the first half of 2021 to 45.2% the same time this year. The bigger problem, however, it was a 56.7% increase in operating expenses. The single largest contributor on this front was a $372 million charge associated with certain patent-related litigations. Because of the nature of this and the fact that both it and its counterparty agreed to a mutual general release from all past claims asserted by both parties, investors should view this as a one-time thing. Naturally, this impacted other profitability metrics as well. Operating cash flow fell from $539 million to $154 million, while EBITDA declined slightly from $612 million to $562 million.
|ZBRA||US Electronic||US Market|
Return vs Industry: ZBRA underperformed the US Electronic industry which returned -23.7% over the past year.
Return vs Market: ZBRA underperformed the US Market which returned -22.1% over the past year.
|ZBRA Average Weekly Movement||6.2%|
|Electronic Industry Average Movement||6.7%|
|Market Average Movement||6.9%|
|10% most volatile stocks in US Market||15.8%|
|10% least volatile stocks in US Market||2.8%|
Stable Share Price: ZBRA is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: ZBRA's weekly volatility (6%) has been stable over the past year.
About the Company
Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers, which produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers, which produce images which are used for personal identification, access control, and financial transactions; RFID printers that encode data into passive RFID transponders; accessories and options for our printers, including vehicle mounts and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.
Zebra Technologies Fundamentals Summary
|ZBRA fundamental statistics|
Is ZBRA overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|ZBRA income statement (TTM)|
|Cost of Revenue||US$3.18b|
Last Reported Earnings
Jul 02, 2022
Next Earnings Date
Nov 01, 2022
|Earnings per share (EPS)||9.57|
|Net Profit Margin||8.56%|
How did ZBRA perform over the long term?See historical performance and comparison
Is ZBRA undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score 4/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Key Valuation Metric
Which metric is best to use when looking at relative valuation for ZBRA?
Other financial metrics that can be useful for relative valuation.
|What is ZBRA's n/a Ratio?|
Price to Earnings Ratio vs Peers
How does ZBRA's PE Ratio compare to its peers?
|ZBRA PE Ratio vs Peers|
|Company||PE||Estimated Growth||Market Cap|
TDY Teledyne Technologies
KEYS Keysight Technologies
ZBRA Zebra Technologies
Price-To-Earnings vs Peers: ZBRA is expensive based on its Price-To-Earnings Ratio (28.4x) compared to the peer average (26.6x).
Price to Earnings Ratio vs Industry
How does ZBRA's PE Ratio compare vs other companies in the US Electronic Industry?
Price-To-Earnings vs Industry: ZBRA is expensive based on its Price-To-Earnings Ratio (28.4x) compared to the US Electronic industry average (14.4x)
Price to Earnings Ratio vs Fair Ratio
What is ZBRA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
|Current PE Ratio||28.4x|
|Fair PE Ratio||29.8x|
Price-To-Earnings vs Fair Ratio: ZBRA is good value based on its Price-To-Earnings Ratio (28.4x) compared to the estimated Fair Price-To-Earnings Ratio (29.8x).
Share Price vs Fair Value
What is the Fair Price of ZBRA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: ZBRA ($271.35) is trading below our estimate of fair value ($659.99)
Significantly Below Fair Value: ZBRA is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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How is Zebra Technologies forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?
Future Growth Score4/6
Future Growth Score 4/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: ZBRA's forecast earnings growth (26.2% per year) is above the savings rate (1.9%).
Earnings vs Market: ZBRA's earnings (26.2% per year) are forecast to grow faster than the US market (14.8% per year).
High Growth Earnings: ZBRA's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: ZBRA's revenue (5.9% per year) is forecast to grow slower than the US market (7.6% per year).
High Growth Revenue: ZBRA's revenue (5.9% 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 (30.9%)
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How has Zebra Technologies performed over the past 5 years?
Past Performance Score1/6
Past Performance Score 1/6
Growing Profit Margin
Earnings vs Industry
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: ZBRA has a large one-off loss of $416.0M impacting its July 2 2022 financial results.
Growing Profit Margin: ZBRA's current net profit margins (8.6%) are lower than last year (14.7%).
Past Earnings Growth Analysis
Earnings Trend: ZBRA has become profitable over the past 5 years, growing earnings by 34.4% per year.
Accelerating Growth: ZBRA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ZBRA had negative earnings growth (-34.7%) over the past year, making it difficult to compare to the Electronic industry average (20.1%).
Return on Equity
High ROE: ZBRA's Return on Equity (19.8%) is considered low.
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How is Zebra Technologies's financial position?
Financial Health Score3/6
Financial Health Score 3/6
Short Term Liabilities
Long Term Liabilities
Financial Position Analysis
Short Term Liabilities: ZBRA's short term assets ($1.8B) do not cover its short term liabilities ($2.1B).
Long Term Liabilities: ZBRA's short term assets ($1.8B) do not cover its long term liabilities ($2.8B).
Debt to Equity History and Analysis
Debt Level: ZBRA's net debt to equity ratio (82.1%) is considered high.
Reducing Debt: ZBRA's debt to equity ratio has reduced from 301% to 86% over the past 5 years.
Debt Coverage: ZBRA's debt is well covered by operating cash flow (31.7%).
Interest Coverage: ZBRA earns more interest than it pays, so coverage of interest payments is not a concern.
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What is Zebra Technologies's current dividend yield, its reliability and sustainability?
Dividend Score 0/6
Cash Flow Coverage
Dividend Yield vs Market
|Zebra Technologies Dividend Yield vs Market|
|Company (Zebra Technologies)||n/a|
|Market Bottom 25% (US)||1.6%|
|Market Top 25% (US)||4.6%|
|Industry Average (Electronic)||1.7%|
|Analyst forecast in 3 Years (Zebra Technologies)||0%|
Notable Dividend: Unable to evaluate ZBRA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate ZBRA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
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.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as ZBRA has not reported any payouts.
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How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Anders Gustafsson (62 yo)
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
|Anders Gustafsson's Compensation vs Zebra Technologies Earnings|
|Date||Total Comp.||Salary||Company Earnings|
|Jul 02 2022||n/a||n/a|
|Apr 02 2022||n/a||n/a|
|Dec 31 2021||US$14m||US$1m|
|Oct 02 2021||n/a||n/a|
|Jul 03 2021||n/a||n/a|
|Apr 03 2021||n/a||n/a|
|Dec 31 2020||US$10m||US$1m|
|Sep 26 2020||n/a||n/a|
|Jun 27 2020||n/a||n/a|
|Mar 28 2020||n/a||n/a|
|Dec 31 2019||US$10m||US$1m|
|Sep 28 2019||n/a||n/a|
|Jun 29 2019||n/a||n/a|
|Mar 30 2019||n/a||n/a|
|Dec 31 2018||US$9m||US$988k|
|Sep 29 2018||n/a||n/a|
|Jun 30 2018||n/a||n/a|
|Mar 31 2018||n/a||n/a|
|Dec 31 2017||US$8m||US$938k|
|Sep 30 2017||n/a||n/a|
|Jul 01 2017||n/a||n/a|
|Apr 01 2017||n/a||n/a|
|Dec 31 2016||US$6m||US$900k|
|Oct 01 2016||n/a||n/a|
|Jul 02 2016||n/a||n/a|
|Apr 02 2016||n/a||n/a|
|Dec 31 2015||US$6m||US$889k|
Compensation vs Market: Anders's total compensation ($USD13.59M) is about average for companies of similar size in the US market ($USD13.05M).
Compensation vs Earnings: Anders's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Experienced Management: ZBRA's management team is seasoned and experienced (6.3 years average tenure).
Experienced Board: ZBRA's board of directors are considered experienced (8.9 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: ZBRA insiders have only sold shares in the past 3 months.
Recent Insider Transactions
|04 Aug 22||SellUS$740,763||Stephen Williams||Individual||2,255||US$328.75|
|15 Dec 21||SellUS$1,053,521||Janice Roberts||Individual||1,802||US$584.64|
|13 Dec 21||SellUS$1,210,880||Frank Modruson||Individual||2,000||US$605.44|
|07 Dec 21||SellUS$550,623||Stephen Williams||Individual||910||US$605.08|
|02 Dec 21||SellUS$471,584||Michael Cho||Individual||802||US$588.01|
|19 Nov 21||SellUS$8,453,060||Anders Gustafsson||Individual||14,000||US$603.87|
|18 Nov 21||SellUS$2,119,280||Michael Smith||Individual||3,500||US$607.00|
|10 Nov 21||SellUS$44,980||Stephen Williams||Individual||76||US$591.84|
|Owner Type||Number of Shares||Ownership Percentage|
|State or Government||22,138||0.04%|
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
|Ownership||Name||Shares||Current Value||Change %||Portfolio %|
Zebra Technologies Corporation's employee growth, exchange listings and data sources
- Name: Zebra Technologies Corporation
- Ticker: ZBRA
- Exchange: NasdaqGS
- Founded: 1969
- Industry: Electronic Equipment and Instruments
- Sector: Tech
- Implied Market Cap: US$14.098b
- Shares outstanding: 51.95m
- Website: https://www.zebra.com
Number of Employees
- Zebra Technologies Corporation
- 3 Overlook Point
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|ZBRA||NasdaqGS (Nasdaq Global Select)||Yes||Class A Common Stock||US||USD||Aug 1991|
|ZT1A||DB (Deutsche Boerse AG)||Yes||Class A Common Stock||DE||EUR||Aug 1991|
|ZT1A||XTRA (XETRA Trading Platform)||Yes||Class A Common Stock||DE||EUR||Aug 1991|
|ZBRA *||BMV (Bolsa Mexicana de Valores)||Yes||Class A Common Stock||MX||MXN||Aug 1991|
|Z1BR34||BOVESPA (Bolsa de Valores de Sao Paulo)||BDR EACH 30 REPR 1 COM NPV||BR||BRL||Oct 2020|
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/09/28 00:00|
|End of Day Share Price||2022/09/28 00:00|
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.