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Zebra Technologies

ZBRA · Updated 11/13/2026

Revenue

$5.4B

Fiscal 2025

Net income

$419.0M

Fiscal 2025

Free cash flow

$831.0M

Fiscal 2025

Net cash / (debt)

—

Fiscal 2025

Five-year financials

Fiscal year20252024202320222021
Revenue$5.4B$5.0B$4.6B$5.8B$5.6B
Net income$419.0M$528.0M$296.0M$463.0M$837.0M
Diluted EPS—————
Operating cash flow$917.0M$1.0B(4.0M)$488.0M$1.1B
Free cash flow$831.0M$954.0M(91.0M)$413.0M$1.0B
Cash$125.0M$901.0M$137.0M$105.0M$332.0M
Total debt—————

Financial trends

Historical · FY2021–FY2025

Source: Reported annual filings (10-K / 20-F) and provider data. Fiscal years as reported; margins are calculated from the reported figures shown.

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Where the cash went

Cumulative, fiscal 2021–2025, straight from the reported cash-flow statements.

Reinvested in capex

10.5%

of operating cash flow

Returned to owners

—

of free cash flow (buybacks + dividends)

Diluted share count

—

change 2021–2025

Capital expenditure $366.0MBar width = share of $3.5B operating cash flow
Operating cash flow$3.5B
Capital expenditure($366.0M)
Free cash flow$3.1B
Share buybacks—
Dividends paid—
Acquisitions (net)—
Net debt issued / (repaid)—
Stock-based compensation (non-cash)—

"—" means a year didn't report that line, so no total is shown rather than an estimate.

Zebra Technologies return on capital (fiscal 2025)

ROIC

8.5%

Return on capital

8.2%

Return on equity

11.7%

Return on assets

5.1%

Gross margin

48.1%

Operating margin

14.8%

Net debt / EBITDA

2.69x

Zebra Technologies insider buying and selling

Recent open-market trades reported on Form 4. Context only — not a reason to buy or sell.

DateInsiderTypeSharesPrice
2026-08-10Connly LindaSale500$377.68
2026-08-07Cho MichaelSale3,500$375.20
2026-05-26Luff Loizides MelissaSale500$253.95

SEC filings

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