ZEBRA TECHNOLOGIES CORP
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $5.4B | $5.0B | $4.6B | $5.8B | $5.6B |
| Cost of revenue | $2.8B | $2.6B | $2.5B | $3.2B | $3.0B |
| Gross profit | $2.6B | $2.4B | $2.1B | $2.6B | $2.6B |
| Research and development | $593.0M | $563.0M | $519.0M | $570.0M | $567.0M |
| Operating expenses | $1.9B | $1.7B | $1.6B | $2.1B | $1.6B |
| Operating income | $700.0M | $742.0M | $481.0M | $529.0M | $979.0M |
| Interest expense | — | — | — | — | $5.0M |
| Pretax income | $560.0M | $635.0M | $334.0M | $544.0M | $968.0M |
| Income tax expense | $141.0M | $107.0M | $38.0M | $81.0M | $131.0M |
| Net income | $419.0M | $528.0M | $296.0M | $463.0M | $837.0M |
| Balance Sheet | |||||
| Cash and equivalents | $125.0M | $901.0M | $137.0M | $105.0M | $332.0M |
| Current assets | $1.8B | $2.4B | $1.7B | $1.9B | $1.7B |
| Total assets | $8.5B | $8.0B | $7.3B | $7.5B | $6.2B |
| Current liabilities | $1.9B | $1.7B | $1.6B | $2.3B | $1.8B |
| Total liabilities | $4.9B | $4.4B | $4.3B | $4.8B | $3.2B |
| Total debt | $2.5B | $2.2B | $2.2B | $2.0B | $996.0M |
| Stockholders' equity | $3.6B | $3.6B | $3.0B | $2.7B | $3.0B |
| Cash Flow Statement | |||||
| Cash from operations | $917.0M | $1.0B | -$4.0M | $488.0M | $1.1B |
| Depreciation and amortization | $71.0M | $68.0M | $72.0M | $68.0M | $72.0M |
| Stock-based compensation | $163.0M | $89.0M | $55.0M | $88.0M | $76.0M |
| Capital expenditure | $86.0M | $59.0M | $87.0M | $75.0M | $59.0M |
| Free cash flow | $831.0M | $954.0M | -$91.0M | $413.0M | $1.0B |
| Share repurchases | $587.0M | $47.0M | $52.0M | $751.0M | $57.0M |
| Impairments | $45.0M | $0 | $0 | — | — |
Shares outstanding 47.6M · Free float 97.8%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.