The full income statement, balance sheet, and cash-flow statement for Zebra Technologies Corporation (ZBRA), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 5.40B+8.3% | 4.98B+8.7% | 4.58B-20.7% | 5.78B+2.7% | 5.63B+26.5% | |
| 2.59B+7.5% | 2.41B+13.7% | 2.12B-19.1% | 2.62B-0.2% | 2.63B+31.2% | ||
| Cost of revenue | 2.80B+9.2% | 2.57B+4.3% | 2.46B-22.0% | 3.16B+5.3% | 3.00B+22.7% | |
| 1.89B+13.3% | 1.67B+1.8% | 1.64B-21.6% | 2.10B+27.0% | 1.65B+22.0% | ||
| Research & development | 593M+5.3% | 563M+8.5% | 519M-8.9% | 570M+0.5% | 567M+25.2% | |
| Selling, general & administrative | 1.09B+10.7% | 981M+7.2% | 915M-6.8% | 982M+5.0% | 935M+18.8% | |
| General & administrative | 433M+13.6% | 381M+14.1% | 334M-10.9% | 375M+7.8% | 348M+14.5% | |
| Selling & marketing | 653M+8.8% | 600M+3.3% | 581M-4.3% | 607M+3.4% | 587M+21.5% | |
| Restructuring | 76.0M+347.1% | 17.0M-82.7% | 98.0M+600.0% | 14.0M+100.0% | 7.00M-36.4% | |
| Amortization of intangibles | 114M+9.6% | 104M+0.0% | 104M-23.5% | 136M+18.3% | 115M+47.4% | |
| Operating income | 700M-5.7% | 742M+54.3% | 481M-9.1% | 529M-46.0% | 979M+50.4% | |
| Interest expense | — | — | — | — | 5.00M-93.4% | |
| Other non-operating income | -14.0M+0.0% | -14.0M-16.7% | -12.0M-140.0% | -5.00M-400.0% | -1.00M-133.3% | |
| Gain (loss) on equity securities | — | -6.00M | 0.00 | 0.00 | — | |
| Pre-tax income | 560M-11.8% | 635M+90.1% | 334M-38.6% | 544M-43.8% | 968M+72.9% | |
| Income tax | 141M+31.8% | 107M+181.6% | 38.0M-53.1% | 81.0M-38.2% | 131M+133.9% | |
| 419M-20.6% | 528M+78.4% | 296M-36.1% | 463M-44.7% | 837M+66.1% | ||
| Net income to common | 419M-20.6% | 528M+78.4% | 296M-36.1% | 463M-44.7% | 837M+66.1% | |
| $8.18-19.6% | $10.18+78.0% | $5.72-35.0% | $8.80-43.3% | $15.52+66.0% | ||
| EPS (basic) | $8.24-19.6% | $10.25+78.3% | $5.75-35.1% | $8.86-43.4% | $15.66+66.1% | |
| Weighted-avg shares (basic) | 50.8M-1.3% | 51.5M+0.2% | 51.4M-1.6% | 52.2M-2.3% | 53.4M+0.0% | |
| Weighted-avg shares (diluted) | 51.2M-1.3% | 51.9M+0.3% | 51.7M-1.6% | 52.6M-2.5% | 53.9M-0.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.80B-26.4% | 2.44B+45.9% | 1.67B-11.2% | 1.88B+11.5% | 1.69B+32.7% | ||
| Cash & equivalents | 125M-86.1% | 901M+557.7% | 137M+30.5% | 105M-68.4% | 332M+97.6% | |
| Accounts receivable | 801M+15.8% | 692M+32.8% | 521M-32.2% | 768M+2.1% | 752M+48.0% | |
| Inventory | 729M+5.2% | 693M-13.8% | 804M-6.5% | 860M+75.2% | 491M-3.9% | |
| Prepaid expenses | 110M-17.9% | 134M-8.8% | 147M+18.5% | 124M+17.0% | 106M+51.4% | |
| 8.50B+6.7% | 7.97B+9.1% | 7.31B-3.0% | 7.53B+21.1% | 6.21B+15.6% | ||
| Property, plant & equipment | 353M+15.7% | 305M-1.3% | 309M+11.2% | 278M+2.2% | 272M-0.7% | |
| Operating lease right-of-use | 166M-0.6% | 167M-1.2% | 169M+8.3% | 156M+19.1% | 131M-3.0% | |
| Goodwill | 4.73B+21.5% | 3.89B-0.1% | 3.90B-0.1% | 3.90B+19.4% | 3.27B+9.3% | |
| Intangible assets | 809M+91.7% | 422M-19.9% | 527M-16.3% | 630M+34.3% | 469M+16.7% | |
| Long-term investments | 103M-6.4% | 110M-2.7% | 113M+0.0% | 113M | — | |
| Deferred tax assets | 414M-19.1% | 512M+16.9% | 438M+7.6% | 407M+112.0% | 192M+38.1% | |
| Other non-current assets | 237M+2.6% | 231M-22.0% | 296M+7.2% | 276M+40.1% | 197M+20.1% | |
| 1.85B+8.7% | 1.70B+6.6% | 1.60B-31.5% | 2.33B+29.6% | 1.80B-2.8% | ||
| Accounts payable | 695M+9.8% | 633M+38.8% | 456M-43.8% | 811M+15.9% | 700M+16.5% | |
| Accrued liabilities | 558M+10.9% | 503M-0.2% | 504M-32.3% | 744M+16.4% | 639M+14.3% | |
| Deferred revenue | 446M-1.5% | 453M-1.1% | 458M+7.8% | 425M+11.8% | 380M+23.4% | |
| Short-term & current debt | 141M+78.5% | 79.0M-54.3% | 173M-19.2% | 214M+210.1% | 69.0M-81.0% | |
| Current lease liability | 38.0M+5.6% | 36.0M-14.3% | 42.0M+13.5% | 37.0M+12.1% | 33.0M+10.0% | |
| 4.91B+12.1% | 4.38B+2.6% | 4.27B-11.0% | 4.80B+48.4% | 3.23B+0.0% | ||
| Long-term debt | 2.36B+12.9% | 2.09B+2.2% | 2.05B+13.2% | 1.81B+96.2% | 922M+4.7% | |
| Deferred revenue (non-current) | 396M+30.3% | 304M-2.6% | 312M-6.3% | 333M+5.7% | 315M+15.4% | |
| Non-current lease liability | 157M+1.3% | 155M+2.0% | 152M+9.4% | 139M+14.9% | 121M-6.2% | |
| Operating lease liability (total) | 195M+2.1% | 191M-1.5% | 194M+10.2% | 176M+14.3% | 154M-3.1% | |
| Deferred tax liabilities | 32.0M-43.9% | 57.0M-14.9% | 67.0M-10.7% | 75.0M+1150.0% | 6.00M | |
| Other non-current liabilities | 116M+65.7% | 70.0M-25.5% | 94.0M-13.0% | 108M+61.2% | 67.0M-30.9% | |
| 3.59B+0.1% | 3.59B+18.1% | 3.04B+11.1% | 2.73B-8.4% | 2.98B+39.2% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 1.00M+0.0% | 1.00M+0.0% | 1.00M+0.0% | 1.00M+0.0% | 1.00M+0.0% | |
| Additional paid-in capital | 814M+21.7% | 669M+8.8% | 615M+9.6% | 561M+21.4% | 462M+17.0% | |
| Retained earnings | 5.28B+8.6% | 4.86B+12.2% | 4.33B+7.3% | 4.04B+13.0% | 3.57B+30.6% | |
| Treasury stock | 2.49B+30.9% | 1.90B+2.3% | 1.86B+3.3% | 1.80B+75.9% | 1.02B+11.3% | |
| Accumulated other comprehensive income | -18.0M+59.1% | -44.0M+18.5% | -54.0M+18.2% | -66.0M-127.6% | -29.0M+58.0% | |
| Total equity incl. non-controlling | 3.59B+0.1% | 3.59B+18.1% | 3.04B+11.1% | 2.73B-8.4% | 2.98B+39.2% | |
| Total liabilities & equity | 8.50B+6.7% | 7.97B+9.1% | 7.31B-3.0% | 7.53B+21.1% | 6.21B+15.6% | |
| Common shares issued | 72.2M+0.0% | 72.2M+0.0% | 72.2M+0.0% | 72.2M+0.0% | 72.2M+0.0% | |
| Common shares outstanding | 49.6M-3.7% | 51.5M+0.2% | 51.4M-0.1% | 51.5M-3.7% | 53.4M-0.1% | |
| Shares outstanding (cover) | 49.2M-4.3% | 51.4M-0.0% | 51.4M-0.0% | 51.4M-3.2% | 53.1M-0.7% | |
| Treasury shares | 22.6M+9.3% | 20.6M-0.6% | 20.8M+0.4% | 20.7M+10.5% | 18.7M+0.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 917M-9.5% | 1.01B+25425.0% | -4.00M-100.8% | 488M-54.3% | 1.07B+11.1% | ||
| Depreciation & amortization | 185M+7.6% | 172M-2.3% | 176M-13.7% | 204M+9.1% | 187M+28.1% | |
| Intangible amortization | 114M+9.6% | 104M+0.0% | 104M-23.5% | 136M+18.3% | 115M+47.4% | |
| Share-based compensation | 163M+83.1% | 89.0M+61.8% | 55.0M-37.5% | 88.0M+15.8% | 76.0M+49.0% | |
| Deferred income taxes | — | -94.0M-168.6% | -35.0M+83.2% | -208M-205.9% | -68.0M-70.0% | |
| Change in receivables | 39.0M-78.5% | 181M+172.7% | -249M-5080.0% | 5.00M-97.9% | 239M+283.8% | |
| Change in inventory | -54.0M+48.6% | -105M-110.0% | -50.0M-114.7% | 341M+1994.4% | -18.0M-142.9% | |
| Change in payables | 1.00M-99.4% | 176M+148.2% | -365M-496.7% | 92.0M-4.2% | 96.0M+104.3% | |
| Other operating activities | 14.0M+0.0% | 14.0M+366.7% | 3.00M-40.0% | 5.00M+400.0% | 1.00M+0.0% | |
| -1.46B-2452.6% | -57.0M+38.0% | -92.0M+90.5% | -968M-77.3% | -546M+14.8% | ||
| Capital expenditure | 86.0M+45.8% | 59.0M-32.2% | 87.0M+16.0% | 75.0M+27.1% | 59.0M-11.9% | |
| Free cash flow | 831M-12.9% | 954M+1148.4% | -91.0M-122.0% | 413M-59.1% | 1.01B+12.8% | |
| Acquisitions | 1.36B | 0.00 | 0.00-100.0% | 881M+94.9% | 452M-17.5% | |
| -239M-25.8% | -190M-262.4% | 117M-53.8% | 253M+168.2% | -371M-136.3% | ||
| Long-term debt issued | 347M-46.7% | 651M+48.0% | 440M-65.7% | 1.28B+2691.3% | 46.0M-84.8% | |
| Long-term debt repaid | 19.0M-97.3% | 694M+183.3% | 245M-0.8% | 247M-18.5% | 303M-11.4% | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 587M+1148.9% | 47.0M-9.6% | 52.0M-93.1% | 751M+1217.5% | 57.0M-71.5% | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| FX effect on cash | 1.00M+133.3% | -3.00M | 0.00 | 0.00 | 0.00+100.0% | |
| Net change in cash | -776M-201.7% | 763M+3533.3% | 21.0M+109.3% | -227M-249.3% | 152M-6.2% | |
| Interest paid | 129M+134.5% | 55.0M-50.5% | 111M+91.4% | 58.0M+81.3% | 32.0M-15.8% | |
| Income taxes paid | 134M+8.1% | 124M-50.8% | 252M+50.0% | 168M-15.6% | 199M+86.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 12.0B-39.5% | 19.9B+41.7% | 14.0B+6.0% | 13.2B-58.4% | 31.8B+54.7% | |
| P/E | 28.7×-23.7% | 37.7×+24.8% | 30.2×+6.7% | 28.3×-25.5% | 38.0×-6.8% | |
| P/S | 2.2×-44.1% | 4.0×+44.5% | 2.8×+20.0% | 2.3×-59.2% | 5.7×+22.3% | |
| P/B | 3.4×-39.5% | 5.5×+19.1% | 4.7×-6.5% | 5.0×-53.2% | 10.7×+11.2% | |
| P/FCF | 14.5×-30.5% | 20.9×-92.6% | 280.8×+710.2% | 34.7×+10.1% | 31.5×+37.1% | |
| Earnings yield | 3.5%+31.1% | 2.7%-19.9% | 3.3%-6.3% | 3.5%+34.3% | 2.6%+7.3% | |
| FCF yield | 6.9%+43.9% | 4.8%+1246.5% | 0.36%-87.7% | 2.9%-9.2% | 3.2%-27.1% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
Source: ZBRA’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ZBRA filings on SEC EDGAR → Not investment advice.
