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Zebra Technologies

Nasdaq:ZBRA
Snowflake Description

Solid track record with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ZBRA
Nasdaq
$11B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Zebra Technologies Corporation, together with its subsidiaries, designs, manufactures, and sells a range of automatic identification and data capture (AIDC) products worldwide. The last earnings update was 4 days ago. More info.


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  • Zebra Technologies has significant price volatility in the past 3 months.
ZBRA Share Price and Events
7 Day Returns
12%
NasdaqGS:ZBRA
2%
US Electronic
1.2%
US Market
1 Year Returns
66.1%
NasdaqGS:ZBRA
0.2%
US Electronic
0.9%
US Market
ZBRA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Zebra Technologies (ZBRA) 12% 12.4% 23.1% 66.1% 192.4% 199%
US Electronic 2% 11.5% 7.3% 0.2% 68.4% 61.8%
US Market 1.2% 6.6% 1.2% 0.9% 44.3% 41.3%
1 Year Return vs Industry and Market
  • ZBRA outperformed the Electronic industry which returned 0.2% over the past year.
  • ZBRA outperformed the Market in United States of America which returned 0.9% over the past year.
Price Volatility
ZBRA
Industry
5yr Volatility vs Market

Value

 Is Zebra Technologies undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Zebra Technologies to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Zebra Technologies.

NasdaqGS:ZBRA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:ZBRA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.054 (1 + (1- 21%) (14.79%))
1.177
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.177 * 7.27%)
11.29%

Discounted Cash Flow Calculation for NasdaqGS:ZBRA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Zebra Technologies is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:ZBRA DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 643.04 724.27 854.64 999.93 1,159.92
Source Analyst x3 Analyst x3 Est @ 18%, capped from 21.08% Est @ 17%, capped from 21.08% Est @ 16%, capped from 21.08%
Present Value
Discounted (@ 11.29%)
577.83 584.83 620.12 651.96 679.58
Present value of next 5 years cash flows $3,114.32
NasdaqGS:ZBRA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $1,159.92 × (1 + 2.73%) ÷ (11.29% – 2.73%)
$13,928.42
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $13,928.42 ÷ (1 + 11.29%)5
$8,160.52
NasdaqGS:ZBRA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $3,114.32 + $8,160.52
$11,274.84
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $11,274.84 / 53.87
$209.3
NasdaqGS:ZBRA Discount to Share Price
Calculation Result
Value per share (USD) From above. $209.30
Current discount Discount to share price of $199.75
= -1 x ($199.75 - $209.30) / $209.30
4.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Zebra Technologies is available for.
Intrinsic value
5%
Share price is $199.75 vs Future cash flow value of $209.3
Current Discount Checks
For Zebra Technologies to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Zebra Technologies's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Zebra Technologies's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Zebra Technologies's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Zebra Technologies's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:ZBRA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $7.86
NasdaqGS:ZBRA Share Price ** NasdaqGS (2019-02-15) in USD $199.75
United States of America Electronic Industry PE Ratio Median Figure of 89 Publicly-Listed Electronic Companies 19.79x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 16.97x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Zebra Technologies.

NasdaqGS:ZBRA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ZBRA Share Price ÷ EPS (both in USD)

= 199.75 ÷ 7.86

25.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zebra Technologies is overvalued based on earnings compared to the US Electronic industry average.
  • Zebra Technologies is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Zebra Technologies's expected growth come at a high price?
Raw Data
NasdaqGS:ZBRA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 25.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
18.7%per year
United States of America Electronic Industry PEG Ratio Median Figure of 59 Publicly-Listed Electronic Companies 1.34x
United States of America Market PEG Ratio Median Figure of 2,115 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

NasdaqGS:ZBRA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 25.43x ÷ 18.7%

1.36x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zebra Technologies is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Zebra Technologies's assets?
Raw Data
NasdaqGS:ZBRA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $24.78
NasdaqGS:ZBRA Share Price * NasdaqGS (2019-02-15) in USD $199.75
United States of America Electronic Industry PB Ratio Median Figure of 150 Publicly-Listed Electronic Companies 2.06x
United States of America Market PB Ratio Median Figure of 5,122 Publicly-Listed Companies 1.82x
NasdaqGS:ZBRA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ZBRA Share Price ÷ Book Value per Share (both in USD)

= 199.75 ÷ 24.78

8.06x

* Primary Listing of Zebra Technologies.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zebra Technologies is overvalued based on assets compared to the US Electronic industry average.
X
Value checks
We assess Zebra Technologies's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Zebra Technologies has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Zebra Technologies expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Zebra Technologies expected to grow at an attractive rate?
  • Zebra Technologies's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Zebra Technologies's earnings growth is expected to exceed the United States of America market average.
  • Zebra Technologies's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:ZBRA Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:ZBRA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 18.7%
NasdaqGS:ZBRA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 4.8%
United States of America Electronic Industry Earnings Growth Rate Market Cap Weighted Average 18.1%
United States of America Electronic Industry Revenue Growth Rate Market Cap Weighted Average 5.5%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:ZBRA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:ZBRA Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 4,772 1
2020-12-31 4,688 806 616 7
2019-12-31 4,481 714 527 8
NasdaqGS:ZBRA Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 4,218 785 421
2018-09-29 4,107 728 310
2018-06-30 3,950 541 171
2018-03-31 3,834 477 118
2017-12-31 3,722 478 17
2017-09-30 3,638 338 30
2017-07-01 3,607 459 -41
2017-04-01 3,590 401 -103
2016-12-31 3,574 380 -137
2016-10-01 3,583 246 -181
2016-07-02 3,595 214 -127
2016-04-02 3,606 170 -159

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Zebra Technologies's earnings are expected to grow by 18.7% yearly, however this is not considered high growth (20% yearly).
  • Zebra Technologies's revenue is expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:ZBRA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Zebra Technologies Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ZBRA Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 11.14 11.77 10.61 4.00
2019-12-31 9.61 10.45 7.88 5.00
NasdaqGS:ZBRA Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 7.86
2018-09-29 5.80
2018-06-30 3.18
2018-03-31 2.21
2017-12-31 0.32
2017-09-30 0.57
2017-07-01 -0.79
2017-04-01 -1.99
2016-12-31 -2.66
2016-10-01 -3.52
2016-07-02 -2.48
2016-04-02 -3.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Zebra Technologies is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Zebra Technologies's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Zebra Technologies has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Zebra Technologies performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Zebra Technologies's growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Zebra Technologies's year on year earnings growth rate has been positive over the past 5 years.
  • Zebra Technologies's 1-year earnings growth exceeds its 5-year average (2376.5% vs 19.6%)
  • Zebra Technologies's earnings growth has exceeded the US Electronic industry average in the past year (2376.5% vs 38.7%).
Earnings and Revenue History
Zebra Technologies's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Zebra Technologies Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:ZBRA Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4,218.00 421.00 798.00 444.00
2018-09-29 4,107.00 310.00 786.00 421.00
2018-06-30 3,950.00 171.00 775.00 404.00
2018-03-31 3,834.00 118.00 756.00 394.00
2017-12-31 3,722.00 17.00 749.00 389.00
2017-09-30 3,638.00 30.00 739.00 383.00
2017-07-01 3,607.00 -41.00 741.00 383.00
2017-04-01 3,590.00 -103.00 748.00 379.00
2016-12-31 3,574.00 -137.00 751.00 376.00
2016-10-01 3,583.00 -181.00 769.00 382.00
2016-07-02 3,595.00 -127.00 770.00 386.00
2016-04-02 3,606.00 -159.00 776.00 391.00
2015-12-31 3,650.00 -158.00 777.00 394.00
2015-10-03 3,490.04 -183.11 733.60 375.21
2015-07-04 2,877.31 -139.16 608.12 300.43
2015-04-04 2,275.73 -34.61 475.19 224.14
2014-12-31 1,671.00 32.00 351.00 151.00
2014-09-27 1,164.50 125.63 248.12 95.50
2014-06-28 1,124.75 149.29 243.45 92.66
2014-03-29 1,089.49 152.29 239.25 92.15
2013-12-31 1,038.00 134.00 234.00 91.00
2013-09-28 1,006.80 127.50 227.80 90.04
2013-06-29 995.31 115.48 225.75 89.67
2013-03-30 989.23 115.28 224.43 88.81
2012-12-31 996.17 121.90 222.07 87.36
2012-09-29 990.30 119.96 223.15 87.93
2012-06-30 991.60 127.56 219.26 88.51
2012-03-31 990.06 130.38 214.34 88.66

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Zebra Technologies has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Zebra Technologies used its assets more efficiently than the US Electronic industry average last year based on Return on Assets.
  • Zebra Technologies has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Zebra Technologies's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Zebra Technologies has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Zebra Technologies's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Zebra Technologies's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Zebra Technologies's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Zebra Technologies's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Zebra Technologies's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Zebra Technologies Company Filings, last reported 1 month ago.

NasdaqGS:ZBRA Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,335.00 1,591.00 44.00
2018-09-29 1,213.00 1,903.00 45.00
2018-06-30 1,073.00 2,004.00 46.00
2018-03-31 981.00 2,138.00 64.00
2017-12-31 834.00 2,242.00 62.00
2017-09-30 814.00 2,508.00 88.00
2017-07-01 812.00 2,443.00 95.00
2017-04-01 795.00 2,597.00 180.00
2016-12-31 792.00 2,671.00 156.00
2016-10-01 748.00 2,825.00 163.00
2016-07-02 817.00 2,907.00 141.00
2016-04-02 861.00 2,962.00 194.00
2015-12-31 893.00 3,035.00 192.00
2015-10-03 914.03 3,063.32 258.02
2015-07-04 951.59 3,049.18 204.92
2015-04-04 1,026.00 3,158.08 329.53
2014-12-31 1,040.00 3,162.00 418.00
2014-09-27 1,076.75 3.47 541.92
2014-06-28 1,048.06 2.43 525.99
2014-03-29 1,008.94 0.00 465.57
2013-12-31 958.66 0.00 413.21
2013-09-28 910.34 0.00 463.74
2013-06-29 896.58 0.00 445.69
2013-03-30 886.36 0.00 414.12
2012-12-31 857.00 0.00 388.88
2012-09-29 833.03 0.00 212.94
2012-06-30 820.98 0.00 252.85
2012-03-31 799.06 0.00 217.11
  • Zebra Technologies's level of debt (119.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 119.2% today).
  • Debt is well covered by operating cash flow (49.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 7.1x coverage).
X
Financial health checks
We assess Zebra Technologies's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Zebra Technologies has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Zebra Technologies dividends.
If you bought $2,000 of Zebra Technologies shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Zebra Technologies's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Zebra Technologies's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:ZBRA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
United States of America Electronic Industry Average Dividend Yield Market Cap Weighted Average of 38 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1998 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:ZBRA Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Zebra Technologies has not reported any payouts.
  • Unable to verify if Zebra Technologies's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Zebra Technologies's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Zebra Technologies has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Zebra Technologies's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Zebra Technologies afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Zebra Technologies has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Anders Gustafsson
COMPENSATION $7,791,579
AGE 58
TENURE AS CEO 11.4 years
CEO Bio

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 Zebra Enterprise Solutions Corp. He served as the Chief Executive Officer of Spirent Communications Plc from July 2004 to March 6, 2007 and since July 28, 2007. He served as the Chief Executive Officer of Spirent Communications Inc., from August 2004 to 2007. He redirected that Spirent's growth strategy, divested non-core operations, integrated historic acquisitions and streamlined the organization to realize significant cost savings. He served as Senior Executive Vice President of Global Business Operations of Tellabs Inc., from 2000 to July 28, 2004. Mr. Gustafsson served as an Executive Vice President of Tellabs Inc. and President of Tellabs International, a subsidiary of Tellabs Inc. from August 2002 to February 2004 and served as its President of Global Sales from November 2000 to August 2002. He joined Tellabs in June 2000 as a Vice President and General Manager of the Tellabs EMEA sales region based in the UK until November 2000. Mr. Gustafsson spent eight years at Motorola, Inc. in Senior Sales and Management positions within the mobile infrastructure business in Europe and Asia. Earlier in his career, he held executive positions with Network Equipment Technologies. He has been a Director of Zebra Technologies Corporation since September 4, 2007 and Dycom Industries Inc since November 26, 2013. He served as an Executive Director at Spirent Communications PLC from January 2004 to March 6, 2007. He was Awarded a Fulbright Scholarship and received numerous fellowships and scholarships for academic excellence. He also serves as a trustee of the Shedd Aquarium and as a board member of Junior Achievement of Chicago. He studied at the University of Massachusetts. Mr. Gustafsson holds an M.B.A. degree from the Harvard Graduate School of Business and M.Sc. in Electrical Engineering from Chalmers University of Technology, Sweden.

CEO Compensation
  • Anders's compensation has increased by more than 20% in the past year.
  • Anders's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Zebra Technologies management team in years:

3.7
Average Tenure
52
Average Age
  • The tenure for the Zebra Technologies management team is about average.
Management Team

Anders Gustafsson

TITLE
CEO & Director
COMPENSATION
$8M
AGE
58
TENURE
11.4 yrs

Olivier Leonetti

TITLE
Chief Financial Officer
COMPENSATION
$3M
AGE
53
TENURE
2.3 yrs

Joe Heel

TITLE
Senior Vice President of Global Sales
COMPENSATION
$2M
AGE
52
TENURE
4.4 yrs

Bill Burns

TITLE
Chief Product & Solutions Officer
COMPENSATION
$2M
AGE
50
TENURE
3.7 yrs

Bill Cate

TITLE
Vice President of Channel Strategy & Operations

Colleen O'Sullivan

TITLE
VP & Chief Accounting Officer
AGE
51
TENURE
2.5 yrs

Tom Bianculli

TITLE
Chief Technology Officer
TENURE
2.4 yrs

Deepak Kaul

TITLE
Chief Information Officer

Mike Terzich

TITLE
Senior VP & Chief Administrative Officer
COMPENSATION
$2M
AGE
56
TENURE
4.2 yrs

Mike Steele

TITLE
Vice President of Investor Relations
AGE
45
Board of Directors Tenure

Average tenure and age of the Zebra Technologies board of directors in years:

10.7
Average Tenure
62.5
Average Age
  • The average tenure for the Zebra Technologies board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Michael Smith

TITLE
Chairman of the Board
COMPENSATION
$336K
AGE
63
TENURE
11.4 yrs

Anders Gustafsson

TITLE
CEO & Director
COMPENSATION
$8M
AGE
58
TENURE
11.4 yrs

Richard Keyser

TITLE
Independent Director
COMPENSATION
$274K
AGE
75
TENURE
10.7 yrs

Ross Manire

TITLE
Independent Director
COMPENSATION
$263K
AGE
66
TENURE
15.6 yrs

Andy Ludwick

TITLE
Independent Director
COMPENSATION
$257K
AGE
72
TENURE
10.8 yrs

Janice Roberts

TITLE
Independent Director
COMPENSATION
$251K
AGE
62
TENURE
5.3 yrs

Frank Modruson

TITLE
Independent Director
COMPENSATION
$259K
AGE
58
TENURE
5 yrs

CJ Desai

TITLE
Independent Director
COMPENSATION
$251K
AGE
47
TENURE
3.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
16. Nov 18 Sell Andrew Ludwick Individual 14. Nov 18 15. Nov 18 -34,000 $179.50 $-6,053,309
13. Nov 18 Sell Michael Cho Individual 08. Nov 18 08. Nov 18 -1,393 $182.95 $-254,849
13. Nov 18 Sell Joachim Heel Individual 08. Nov 18 09. Nov 18 -2,480 $182.47 $-452,300
27. Aug 18 Sell Hugh Gagnier Individual 23. Aug 18 23. Aug 18 -4,255 $168.89 $-718,627
14. Aug 18 Sell William Burns Individual 14. Aug 18 14. Aug 18 -3,000 $166.16 $-498,480
14. Aug 18 Sell Joachim Heel Individual 14. Aug 18 14. Aug 18 -1,500 $163.00 $-244,500
13. Aug 18 Sell Jim Kaput Individual 09. Aug 18 09. Aug 18 -3,174 $162.16 $-514,696
25. Jun 18 Sell Joachim Heel Individual 22. Jun 18 22. Jun 18 -3,000 $148.30 $-444,900
23. May 18 Sell Michael Cho Individual 22. May 18 22. May 18 -2,024 $155.18 $-314,084
22. May 18 Sell Michael Terzich Individual 21. May 18 21. May 18 -2,896 $154.15 $-446,418
17. May 18 Sell Jim Kaput Individual 16. May 18 16. May 18 -2,831 $156.23 $-442,287
14. May 18 Sell Hugh Gagnier Individual 11. May 18 11. May 18 -14,009 $153.82 $-2,154,864
01. Mar 18 Sell Hugh Gagnier Individual 28. Feb 18 28. Feb 18 -9,560 $139.61 $-1,334,672
01. Mar 18 Sell Michael Cho Individual 27. Feb 18 27. Feb 18 -2,500 $143.04 $-357,600
28. Feb 18 Sell Hugh Gagnier Individual 27. Feb 18 27. Feb 18 -1,933 $142.98 $-276,380
X
Management checks
We assess Zebra Technologies's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Zebra Technologies has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Estimating The Fair Value Of Zebra Technologies Corporation (NASDAQ:ZBRA)

Today, I will calculate the stock's intrinsic value. … by taking the expected future cash flows and discounting them to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

Is Zebra Technologies Corporation (NASDAQ:ZBRA) A High Quality Stock To Own?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each $1 of shareholders' equity it has, the company made $0.26 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Think About Buying Zebra Technologies Corporation (NASDAQ:ZBRA) Now?

Zebra Technologies Corporation (NASDAQ:ZBRA), which is in the electronic business, and is based in United States,. … saw a double-digit share price rise of over 10% in the past couple of months on the NasdaqGS. … Let’s take a look at Zebra Technologies’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

Did Zebra Technologies Corporation (NASDAQ:ZBRA) Insiders Sell Shares?

We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. … So before you buy or sell Zebra Technologies Corporation (NASDAQ:ZBRA), you may well want to know whether insiders have been buying or selling. … We generally tread carefully if insiders have been selling on market, even if they sold slightly above the current price

Simply Wall St -

How Much Did Zebra Technologies Corporation's (NASDAQ:ZBRA) CEO Pocket Last Year?

How Does Anders Gustafsson's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Zebra Technologies Corporation has a market cap of US$9.6b, and is paying total annual CEO compensation of US$8m. … We looked at a group of companies with market capitalizations over US$8.0b and the median CEO compensation was US$11m.

Simply Wall St -

Can Zebra Technologies Corporation's (NASDAQ:ZBRA) ROE Continue To Surpass The Industry Average?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Zebra Technologies has a return on equity of 16% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Should Investors Know About Zebra Technologies Corporation's (NASDAQ:ZBRA) Capital Returns?

This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … To understand Zebra Technologies’s capital returns we will look at a useful metric called return on capital employed. … Zebra Technologies's Return On Capital Employed

Simply Wall St -

Does Zebra Technologies Corporation's (NASDAQ:ZBRA) PE Ratio Warrant A Sell?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Zebra Technologies Corporation (NASDAQ:ZBRA) is trading with a trailing P/E of 51.6x, which is higher than the industry average of 23.3x. … View our latest analysis for Zebra Technologies

Simply Wall St -

Why Zebra Technologies Corporation (NASDAQ:ZBRA) Could Be A Buy

Zebra Technologies Corporation (NASDAQ:ZBRA), a electronic company based in United States,. … A question to answer is whether Zebra Technologies's current trading price of $140.53 reflective of the actual value of the? … Let’s take a look at Zebra Technologies’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Zebra Technologies Corporation's (NASDAQ:ZBRA) Insiders Just Sold Shares - Should You?

some insider selling over the past three months, with insiders divesting from. … It is widely considered that insider selling stock in their own companies is potentially a bearish signal. … A research published in The MIT Press (1998) concluded that stocks following insider selling fell 2.7% compared to the market

Simply Wall St -

Company Info

Map
Description

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 two segments, Asset Intelligence & Tracking and Enterprise Visibility & Mobility. It offers AIDC products, including mobile computers, barcode scanners, radio frequency identification device readers, specialty printers for barcode labeling and personal identification, and real-time location systems; related accessories and supplies, such as self-adhesive labels, receipts, ribbons, plastic cards, and wristbands; and software utilities and applications. The company also designs, integrates, markets, and sells rugged tablets. In addition, it offers a range of services, including maintenance, technical support, and repair, as well as managed and professional services, including cloud-based subscriptions. The company serves retail and e-commerce, transportation and logistics, manufacturing, health care, hospitality, warehouse and distribution, energy and utilities, government, and education enterprises. It sells its products, solutions, and services through distributors, value added resellers, independent software vendors, direct marketers, and original equipment manufacturers. Zebra Technologies Corporation was founded in 1969 and is headquartered in Lincolnshire, Illinois.

Details
Name: Zebra Technologies Corporation
ZBRA
Exchange: NasdaqGS
Founded: 1969
$10,760,631,775
53,870,497
Website: http://www.zebra.com
Address: Zebra Technologies Corporation
3 Overlook Point,
Lincolnshire,
Illinois, 60069,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ZBRA Class A Common Stock Nasdaq Global Select US USD 15. Aug 1991
DB ZT1A Class A Common Stock Deutsche Boerse AG DE EUR 15. Aug 1991
Number of employees
Current staff
Staff numbers
7,400
Zebra Technologies employees.
Industry
Electronic Equipment and Instruments
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/18 01:40
End of day share price update: 2019/02/15 00:00
Last estimates confirmation: 2019/02/15
Last earnings filing: 2019/02/14
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.