ZEBRA TECHNOLOGIES CORP

10-K & 10-Q Filings

Zebra Technologies Corporation is a global leader in the Automatic Identification and Data Capture (AIDC) industry. The company designs, manufactures, and sells a broad range of AIDC products, including mobile computers, barcode scanners and imagers, RFID readers, specialty printers, real-time location systems (RTLS), related accessories and supplies, software applications, and services. Zebra's business strategy includes leveraging its market leadership position and innovation to profitably grow its core business, advancing its Enterprise Asset Intelligence (EAI) vision, increasing opportunities for growth through expansion in adjacent market segments, and enhancing financial strength and flexibility. The company operates in two reportable segments: Asset Intelligence & Tracking (AIT) and Enterprise Visibility & Mobility (EVM). Zebra's competitors include Datalogic, Honeywell, Panasonic, Cognex, SICK, Keyence, Fargo Electronics, Honeywell, Sato, Toshiba TEC, TSC, Brother, Dymo, Impinj, Chainway, Alien, Rodinbell, JADAK, Ubisense, Invengo, and various software and robotics solution providers. Zebra's customers are diversified across various industries, with significant customers accounting for approximately 18%, 14%, and 12% of the company's Net sales in 2023, 2022, and 2021, respectively. The company sells its products and services primarily through distributors, value-added resellers (VARs), independent software vendors (ISVs), direct marketers, and OEMs. Final assembly of hardware products is performed by third-party electronics manufacturing services companies (EMSs) and joint design manufacturers (JDMs), with production facilities primarily located in the Asia-Pacific region, Mexico, and Brazil. Repair services for products are performed by either the company or third-party providers. Zebra's website is www.zebra.com, and its stock ticker symbol is ZBRA.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Apr 01, 20233 mos ending Mar 30, 2024CAGR %YoY %Revenue (+)
$983.49
996.17
1038.16
1670.57
3652.00
3574.00
3722.00
4218.00
4485.00
4448.00
5627.00
5781.00
4584.00
1405.00
1175.00
13.69%-16.37%Cost of Revenue (-)
$496.72
504.52
534.55
892.55
2008.00
1932.00
2012.00
2237.00
2385.00
2445.00
2999.00
3157.00
2461.00
738.00
612.00
14.27%-17.07%Gross Profit (+)
$486.77
491.64
503.61
778.02
1644.00
1642.00
1710.00
1981.00
2100.00
2003.00
2628.00
2624.00
2123.00
667.00
563.00
13.06%-15.59%Selling, General & Administrative (-)
$209.45
222.07
234.24
351.52
763.00
751.00
749.00
811.00
826.00
787.00
935.00
982.00
915.00
260.00
229.00
13.07%-11.92%Research & Development (-)
$89.93
87.36
91.15
151.10
394.00
376.00
389.00
444.00
447.00
453.00
567.00
570.00
519.00
146.00
138.00
15.73%-5.48%Depreciation & Amortization (-)
$3.32
4.67
7.38
54.10
251.00
229.00
184.00
97.00
103.00
78.00
115.00
136.00
104.00
26.00
26.00
33.25%0.00%Non-recurring Operating Expenses (-)
$2.04
4.07
10.58
132.72
183.00
144.00
66.00
19.00
32.00
34.00
32.00
407.00
104.00
10.00
11.00
38.76%10.00%Operating Expenses (-)
$304.73
327.29
343.35
689.43
1591.00
1562.00
1388.00
1371.00
1408.00
1352.00
1649.00
2095.00
1642.00
442.00
404.00
15.07%-8.60%Costs & Expenses (Total) (-)
$801.45
831.82
877.89
1581.98
3599.00
3494.00
3400.00
3608.00
3793.00
3797.00
4648.00
5252.00
4103.00
1180.00
1016.00
14.58%-13.90%Operating Income/Loss (+)
$182.04
164.35
160.26
88.59
53.00
80.00
322.00
610.00
692.00
651.00
979.00
529.00
481.00
225.00
159.00
8.43%-29.33%Non-operating Income/Expense (+)
$-2.32
-0.18
3.56
-71.96
-217.00
-209.00
-234.00
-86.00
-94.00
-91.00
-11.00
15.00
-147.00
-40.00
-17.00
57.50%Interest Expense (-)
$
56.84
194.00
193.00
227.00
91.00
89.00
76.00
5.00
-23.00
133.00
Earnings before Tax (+)
$179.72
164.17
163.83
16.63
-164.00
-129.00
88.00
524.00
598.00
560.00
968.00
544.00
334.00
185.00
142.00
5.30%-23.24%Tax Expense (-)
$49.38
42.28
29.60
-15.80
-27.00
8.00
71.00
103.00
54.00
56.00
131.00
81.00
38.00
35.00
27.00
-2.16%-22.86%Income/Loss (Continuing Operations) (+)
$130.34
121.90
134.22
32.43
-137.00
-137.00
17.00
421.00
544.00
504.00
837.00
463.00
296.00
150.00
115.00
7.07%-23.33%Income/Loss (Discontinued Operations) (+)
$44.30
1.01
0.13
Net Income/Loss (+)
$174.64
122.90
134.36
32.43
-137.00
-137.00
17.00
421.00
544.00
504.00
837.00
463.00
296.00
150.00
115.00
4.49%-23.33%Net Income/Loss (Common) (+)
$174.64
122.90
134.36
32.43
-137.00
-137.00
17.00
421.00
544.00
504.00
837.00
463.00
296.00
150.00
115.00
4.49%-23.33%EPS (Basic)
$3.24
2.38
2.65
0.64
-2.69
-2.65
0.33
7.86
10.08
9.43
15.66
8.86
5.75
2.92
2.24
4.90%-23.29%EPS (Diluted)
$3.22
2.37
2.63
0.63
-2.69
-2.65
0.32
7.76
9.97
9.35
15.52
8.80
5.72
2.90
2.23
4.90%-23.10%Weighted Avg Shares (Basic)
53.85
51.57
50.69
50.79
51.00
51.58
53.02
53.87
54.01
53.47
53.08
51.40
51.38
51.43
51.42
-0.39%-0.02%Weighted Avg Shares (Diluted)
54.19
51.84
51.06
51.38
51.00
51.58
53.69
Cash
$36.42
64.74
62.83
393.95
192.00
156.00
62.00
44.00
30.00
168.00
332.00
105.00
137.00
85.00
127.00
11.67%49.41%Short-term Investments
$182.40
324.14
350.38
24.39
Receivables
$182.81
168.73
176.92
670.40
674.00
625.00
479.00
520.00
613.00
508.00
752.00
768.00
521.00
736.00
599.00
9.12%-18.61%Inventory
$133.29
123.36
121.02
394.18
394.00
345.00
458.00
520.00
474.00
511.00
491.00
860.00
804.00
835.00
705.00
16.16%-15.57%Prepaid Expenses (Current)
$22.92
16.41
15.52
53.38
68.00
64.00
24.00
54.00
46.00
70.00
106.00
124.00
147.00
140.00
160.00
16.75%14.29%Other Assets (Current)
$27.04
13.48
27.43
135.76
4.00
32.00
40.00
24.00
32.00
16.00
8.00
26.00
63.00
22.00
36.00
7.30%63.64%Assets (Current)
$584.87
710.86
754.10
1672.05
1332.00
1222.00
1063.00
1162.00
1195.00
1273.00
1689.00
1883.00
1672.00
1818.00
1627.00
9.15%-10.51%Securities & Long-term Investments
$107.88
5.20
2.59
Property, Plant & Equipment (Net)
$97.82
101.35
109.59
255.09
298.00
292.00
264.00
249.00
366.00
409.00
403.00
434.00
478.00
452.00
470.00
14.13%3.98%Goodwill & Intangibles
$92.37
134.09
224.77
3518.80
3250.00
2938.00
2764.00
2727.00
2897.00
3390.00
3734.00
4529.00
4422.00
4499.00
4395.00
38.04%-2.31%Other Assets
$16.06
16.25
28.77
122.91
144.00
180.00
184.00
201.00
253.00
303.00
389.00
683.00
734.00
705.00
767.00
37.51%8.79%Assets (Non-current)
$314.13
256.88
365.71
3896.80
3692.00
3410.00
3212.00
3177.00
3516.00
4102.00
4526.00
5646.00
5634.00
5656.00
5632.00
27.20%-0.42%Assets (Total)
$899.01
967.75
1119.81
5568.85
5024.00
4632.00
4275.00
4339.00
4711.00
5375.00
6215.00
7529.00
7306.00
7474.00
7259.00
19.08%-2.88%Accounts Payable
$97.88
81.89
103.55
752.11
678.00
758.00
383.00
934.00
969.00
1179.00
1351.00
1693.00
967.00
1412.00
915.00
21.03%-35.20%Debt (Current)
$
7.52
51.00
157.00
197.00
364.00
69.00
214.00
173.00
215.00
272.00
26.51%Other Liabilities (Current)
$11.09
13.33
15.51
196.21
198.00
191.00
566.00
210.00
238.00
308.00
380.00
425.00
458.00
447.00
456.00
36.35%2.01%Liabilities (Current)
$108.97
95.21
119.05
955.85
876.00
949.00
1000.00
1301.00
1404.00
1851.00
1800.00
2332.00
1598.00
2074.00
1643.00
25.08%-20.78%Debt (Non-current)
$
3182.96
3012.00
2648.00
2176.00
1434.00
1180.00
881.00
922.00
1809.00
2047.00
1880.00
1815.00
-3.46%Other Liabilities
$13.11
15.53
42.10
390.13
223.00
243.00
265.00
269.00
288.00
499.00
509.00
655.00
625.00
629.00
632.00
38.00%0.48%Liabilities (Non-current)
$13.11
15.53
42.10
3573.10
3235.00
2891.00
2441.00
1703.00
1468.00
1380.00
1431.00
2464.00
2672.00
2509.00
2447.00
55.76%-2.47%Liabilities (Total)
$122.08
110.75
161.15
4528.94
4111.00
3840.00
3441.00
3004.00
2872.00
3231.00
3231.00
4796.00
4270.00
4583.00
4090.00
34.48%-10.76%Treasury Stock
$596.62
641.44
678.46
634.66
631.00
614.00
620.00
613.00
689.00
919.00
1023.00
1799.00
1858.00
1814.00
1858.00
9.93%2.43%Retained Earnings
$1245.62
1368.52
1502.88
1535.31
1398.00
1240.00
1248.00
1688.00
2232.00
2736.00
3573.00
4036.00
4332.00
4186.00
4447.00
10.95%6.24%AOCI
$-4.21
-10.32
-9.78
-8.55
-49.00
-45.00
-52.00
-35.00
-44.00
-69.00
-29.00
-66.00
-54.00
-66.00
-50.00
24.24%Shareholder's Equity
$776.92
857.00
958.66
1039.91
913.00
792.00
834.00
1335.00
1839.00
2144.00
2984.00
2733.00
3036.00
2891.00
3169.00
12.03%9.62%Liabilities & Equity
$899.01
967.75
1119.81
5568.85
5024.00
4632.00
4275.00
4339.00
4711.00
5375.00
6215.00
7529.00
7306.00
7474.00
7259.00
19.08%-2.88%Net Income/Loss
$174.64
122.90
134.36
32.43
-137.00
-137.00
17.00
421.00
544.00
504.00
837.00
463.00
296.00
150.00
115.00
4.49%-23.33%Depreciation & Amortization
$24.00
26.18
32.11
83.48
336.00
327.00
366.00
191.00
181.00
149.00
189.00
204.00
176.00
44.00
43.00
18.06%-2.27%Increase/Decrease in Working Capital
$74.28
-4.54
-11.51
-154.21
-7.00
-130.00
-66.00
-140.00
63.00
-264.00
-67.00
-27.00
515.00
283.00
17.00
17.51%-93.99%Share-based Compensation
$14.10
14.73
13.11
19.89
31.00
27.00
35.00
45.00
48.00
51.00
76.00
88.00
55.00
18.00
17.00
12.01%-5.56%Adjustments to Reconcile Net Income
$-95.02
60.43
60.41
215.90
248.00
509.00
461.00
364.00
141.00
458.00
232.00
25.00
-300.00
-226.00
10.00
104.42%Net Cash (Operating)
$79.62
183.33
194.77
248.32
111.00
372.00
478.00
785.00
685.00
962.00
1069.00
488.00
-4.00
-76.00
125.00
264.47%Capital Expenditure
$-133.06
58.24
117.04
3437.89
171.00
38.00
50.00
136.00
323.00
615.00
511.00
956.00
87.00
16.00
14.00
-12.50%Net Cash (Investing)
$53.22
-105.53
-153.15
-3111.34
-148.00
-39.00
-51.00
-137.00
-335.00
-641.00
-546.00
-968.00
-92.00
-17.00
-11.00
35.29%Increase/Decrease in Debt
$
3188.86
-165.00
-382.00
-454.00
-657.00
-312.00
-40.00
-257.00
1037.00
195.00
72.00
-133.00
-284.72%Increase/Decrease in Equity
$-147.19
-51.01
-48.45
-2.75
17.00
11.00
7.00
8.00
-53.00
-201.00
-57.00
-751.00
-52.00
-15.00
Interest Expenses
$
183.00
180.00
195.00
90.00
63.00
38.00
32.00
58.00
111.00
24.00
30.00
25.00%Net Cash (Financing)
$-145.80
-49.43
-44.17
3192.23
-149.00
-376.00
-517.00
-661.00
-365.00
-157.00
-371.00
253.00
117.00
70.00
-124.00
-277.14%Cash Taxes Paid
$65.36
20.06
18.42
17.43
38.00
81.00
65.00
76.00
140.00
107.00
199.00
168.00
252.00
54.00
3.00
11.90%-94.44%Effect of Exchange Rate
$1.83
-0.04
0.64
1.90
-16.00
7.00
-4.00
-5.00
1.00
-2.00
-1.00
-1.00
0.00%Increase/Decrease in Cash
$-11.12
28.32
-1.91
331.12
-202.00
-36.00
-94.00
-18.00
-14.00
162.00
152.00
-227.00
21.00
-24.00
-11.00
54.17%Cash (Beginning)
$47.48
36.42
64.74
62.83
394.00
192.00
156.00
62.00
44.00
30.00
192.00
344.00
117.00
117.00
138.00
7.81%17.95%Cash (Ending)
$36.35
64.74
62.83
393.95
192.00
156.00
62.00
44.00
30.00
192.00
344.00
117.00
138.00
93.00
127.00
11.76%36.56%NOPAT
$115.83
144.27
142.25
172.76
61.73
29.77
84.16
521.53
529.99
526.61
777.74
365.63
118.09
159.32
155.64
0.16%-2.31%Gross Margin %
49.49%
49.35%
48.51%
46.57%
45.02%
45.94%
45.94%
46.97%
46.82%
45.03%
46.70%
45.39%
46.31%
47.47%
47.91%
Operating Margin %
18.51%
16.50%
15.44%
5.30%
1.45%
2.24%
8.65%
14.46%
15.43%
14.64%
17.40%
9.15%
10.49%
16.01%
13.53%
NOPAT Margin %
11.78%
14.48%
13.70%
10.34%
1.69%
0.83%
2.26%
12.36%
11.82%
11.84%
13.82%
6.32%
2.58%
11.34%
13.25%
Net Margin %
17.76%
12.34%
12.94%
1.94%
-3.75%
-3.83%
0.46%
9.98%
12.13%
11.33%
14.87%
8.01%
6.46%
10.68%
9.79%
Tax Rate %
36.37%
12.22%
11.24%
-95.01%
-16.46%
62.79%
73.86%
14.50%
23.41%
19.11%
20.56%
30.88%
75.45%
29.19%
2.11%
ROA
12.88%
14.91%
12.70%
3.10%
1.23%
0.64%
1.97%
12.02%
11.25%
9.80%
12.51%
4.86%
1.62%
2.13%
2.14%
ROE
14.91%
16.83%
14.84%
16.61%
6.76%
3.76%
10.09%
39.07%
28.82%
24.56%
26.06%
13.38%
3.89%
5.51%
4.91%
ROIC
25.06%
27.74%
23.73%
4.10%
1.51%
0.83%
2.49%
16.96%
15.88%
14.14%
18.18%
7.44%
2.22%
3.12%
2.93%
Asset Turnover
1.09
1.03
0.93
0.30
0.73
0.77
0.87
0.97
0.95
0.83
0.91
0.77
0.63
0.19
0.16
Inventory Turnover
3.73
4.09
4.42
2.26
5.10
5.60
4.39
4.30
5.03
4.78
6.11
3.67
3.06
0.88
0.87
Equity Multiplier
1.16
1.13
1.17
5.36
5.50
5.85
5.13
3.25
2.56
2.51
2.08
2.75
2.41
2.59
2.29
Current Ratio
5.37
7.47
6.33
1.75
1.52
1.29
1.06
0.89
0.85
0.69
0.94
0.81
1.05
0.88
0.99
Quick Ratio
3.69
5.86
4.96
1.14
0.99
0.82
0.54
0.43
0.46
0.37
0.60
0.37
0.41
0.40
0.44
Debt/Equity Ratio
3.07
3.30
3.34
2.67
1.19
0.75
0.58
0.33
0.74
0.73
0.72
0.66
Interest Coverage Ratio
0.29
0.44
1.65
6.78
10.98
17.13
30.59
9.12
4.33
9.38
5.30
Working Capital/Sales
0.28
0.29
0.26
0.26
0.15
0.09
0.10
0.02
0.02
-0.02
0.02
-0.01
0.09
0.11
0.37
R&D/Sales
0.09
0.09
0.09
0.09
0.11
0.11
0.10
0.11
0.10
0.10
0.10
0.10
0.11
0.10
0.12
Total Payout
$147.19
51.01
48.45
-3186.11
331.00
551.00
642.00
739.00
428.00
279.00
346.00
-228.00
-32.00
-33.00
163.00
593.94%Payout Ratio %
127.08%
35.36%
34.06%
-1844.20%
536.24%
1851.02%
762.84%
141.70%
80.76%
52.98%
44.49%
-62.36%
-27.10%
-20.71%
104.73%