olivLaw · US equity research
Zebra Technologies Corporation ZBRA
General Industrial Machinery & Equipment · SIC 3560 · Vertical: General Industrial Machinery & Equipment (SIC 3560)
Zebra Technologies is a global leader in automatic identification and data capture (AIDC), with net sales of 5.396 bn USD in fiscal 2025. In the second quarter of 2026 (ended July 4, 2026) net sales grew 20.4% to 1.557 bn USD, and the company raised its full-year outlook.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Zebra Technologies Corporation (ZBRA) stock was 332.44 USD (+0.89% on the day), with market capitalisation 15.7 bn USD, P/E 26.8 on diluted EPS of 12.38 USD over the last 12 months, beta 1.68, 52-week range 199.30–391.00 USD. Latest reported quarter (Q3 2026): revenue of 1.6 bn USD (+22.3% YoY), net income of 164.0 m USD (+62.4% YoY), diluted EPS 3.43 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 29.4
- oversold (≤ 30)
- Bollinger (20, 2)
- 341.60 – 408.51
- below the lower band · %B -0.14 · band width 17.8%
- SMA 50 / 200
- 366.15 / 281.42
- mixed trend
- MACD (12, 26, 9)
- -5.39 / 1.37
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −11.5% | −1.1% | −10.4 pp | — |
| 3 months | −9.9% | −0.5% | −9.5 pp | — |
| 6 months | +44.7% | +4.4% | +40.3 pp | — |
| Year to date | +36.9% | +12.3% | +24.6 pp | — |
| 1 year | +27.7% | +13.5% | +14.1 pp | +12.6% |
| 3 years | +55.1% | +76.4% | −21.3 pp | +69.8% |
| 5 years | −45.3% | +63.7% | −109.0 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 03 Oct 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.3 bn | 1.3 bn | 1.3 bn | 1.3 bn | 1.5 bn | 1.5 bn | 1.6 bn | 1.6 bn |
| Cost of revenue | 686.0 m | 663.0 m | 677.0 m | 686.0 m | 777.0 m | 753.0 m | 732.0 m | 876.0 m |
| Gross profit | 648.0 m | 645.0 m | 616.0 m | 634.0 m | 698.0 m | 742.0 m | 825.0 m | 738.0 m |
| Research & development | 138.0 m | 151.0 m | 144.0 m | 146.0 m | 152.0 m | 165.0 m | 159.0 m | 158.0 m |
| Operating income | 225.0 m | 195.0 m | 183.0 m | 183.0 m | 139.0 m | 215.0 m | 321.0 m | 237.0 m |
| Depreciation & amortisation | 42.0 m | 41.0 m | 43.0 m ≈ | 42.0 m ≈ | 59.0 m | 56.0 m | 57.0 m ≈ | 57.0 m ≈ |
| Pre-tax income | 208.0 m | 165.0 m | 138.0 m | 159.0 m | 98.0 m | 167.0 m | 285.0 m | 198.0 m |
| Income tax | 45.0 m | 29.0 m | 26.0 m | 58.0 m | 28.0 m | 32.0 m | 52.0 m | 34.0 m |
| Net income | 163.0 m | 136.0 m | 112.0 m | 101.0 m | 70.0 m | 135.0 m | 233.0 m | 164.0 m |
| Diluted EPS | 3.14 ≈ | 2.62 | 2.19 | 1.97 | 1.38 ≈ | 2.72 | 4.85 | 3.43 |
| Operating cash flow | 306.0 m | 178.0 m | 147.0 m ≈ | 235.0 m ≈ | 357.0 m | 176.0 m | 211.0 m ≈ | 324.0 m ≈ |
| Capex | 18.0 m | 20.0 m | 17.0 m ≈ | 19.0 m ≈ | 30.0 m | 13.0 m | 13.0 m ≈ | 24.0 m ≈ |
| Share repurchases | 31.0 m | 125.0 m | 125.0 m ≈ | 34.0 m ≈ | 303.0 m | 300.0 m | 268.0 m ≈ | 75.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 30 percentile of its own 37-quarter history (min 19.4, median 30.2, max 324.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4.2 bn | 4.5 bn | 4.4 bn | 5.6 bn | 5.8 bn | 4.6 bn | 5.0 bn | 5.4 bn |
| Revenue YoY | +13.3% | +6.3% | −0.8% | +26.5% | +2.7% | −20.7% | +8.7% | +8.3% |
| Net income | 421.0 m | 544.0 m | 504.0 m | 837.0 m | 463.0 m | 296.0 m | 528.0 m | 419.0 m |
| Net income YoY | +2,376.5% | +29.2% | −7.4% | +66.1% | −44.7% | −36.1% | +78.4% | −20.6% |
| Diluted EPS | 7.76 | 9.97 | 9.35 | 15.52 | 8.80 | 5.72 | 10.18 | 8.18 |
| Diluted EPS YoY | +2,325.0% | +28.5% | −6.2% | +66.0% | −43.3% | −35.0% | +78.0% | −19.6% |
| net % | 10.0% | 12.1% | 11.3% | 14.9% | 8.0% | 6.5% | 10.6% | 7.8% |
| Free cash flow | 721.0 m | 624.0 m | 895.0 m | 1.0 bn | 413.0 m | -91.0 m | 954.0 m | 831.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 125.0 m USD
- Financial debt
- 2.5 bn USD
- Net debt
- 2.4 bn USD
- Equity
- 3.6 bn USD
- Total assets
- 8.5 bn USD
- Debt / equity
- 0.70x
- Current ratio
- 0.97x
- ROE
- 11.7%
- ROA
- 5.1%
- FCF margin
- 15.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 4.4 bn | 5.6 bn | 5.8 bn | 4.6 bn | 5.0 bn | 5.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Cost of revenue | 2.4 bn | 3.0 bn | 3.2 bn | 2.5 bn | 2.6 bn | 2.8 bn | SEC (XBRL)· 12 Feb 2026verified |
| Gross profit | 2.0 bn | 2.6 bn | 2.6 bn | 2.1 bn | 2.4 bn | 2.6 bn | SEC (XBRL)· 12 Feb 2026verified |
| Research & development | 453.0 m | 567.0 m | 570.0 m | 519.0 m | 563.0 m | 593.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Operating income | 651.0 m | 979.0 m | 529.0 m | 481.0 m | 742.0 m | 700.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Depreciation & amortisation | 146.0 m | 187.0 m | 204.0 m | 176.0 m | 172.0 m | 185.0 m | SEC (XBRL)· 12 Feb 2026verified |
| EBITDA | 797.0 m ≈ | 1.2 bn ≈ | 733.0 m ≈ | 657.0 m ≈ | 914.0 m ≈ | 885.0 m ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Interest expense | 76.0 m | 5.0 m | — | — | — | — | SEC (XBRL)· 10 Feb 2022verified |
| Pre-tax income | 560.0 m | 968.0 m | 544.0 m | 334.0 m | 635.0 m | 560.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Income tax | 56.0 m | 131.0 m | 81.0 m | 38.0 m | 107.0 m | 141.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Net income | 504.0 m | 837.0 m | 463.0 m | 296.0 m | 528.0 m | 419.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Diluted EPS | 9.35 | 15.52 | 8.80 | 5.72 | 10.18 | 8.18 | SEC (XBRL)· 12 Feb 2026verified |
| Weighted average diluted shares | 53.9 m | 53.9 m | 52.6 m | 51.7 m | 51.9 m | 51.2 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 168.0 m | 332.0 m | 105.0 m | 137.0 m | 901.0 m | 125.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Receivables | 508.0 m | 752.0 m | 768.0 m | 521.0 m | 692.0 m | 801.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Inventories | 511.0 m | 491.0 m | 860.0 m | 804.0 m | 693.0 m | 729.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Current assets | 1.3 bn | 1.7 bn | 1.9 bn | 1.7 bn | 2.4 bn | 1.8 bn | SEC (XBRL)· 12 Feb 2026verified |
| Property, plant & equipment, net | 274.0 m | 272.0 m | 278.0 m | 309.0 m | 305.0 m | 353.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Goodwill | 3.0 bn | 3.3 bn | 3.9 bn | 3.9 bn | 3.9 bn | 4.7 bn | SEC (XBRL)· 12 Feb 2026verified |
| Intangibles (excl. goodwill) | 402.0 m | 469.0 m | 630.0 m | 527.0 m | 422.0 m | 809.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Total assets | 5.4 bn | 6.2 bn | 7.5 bn | 7.3 bn | 8.0 bn | 8.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Accounts payable | 601.0 m | 700.0 m | 811.0 m | 456.0 m | 633.0 m | 695.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Short-term debt | 364.0 m | 69.0 m | 214.0 m | 173.0 m | 79.0 m | 141.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Long-term debt | 881.0 m | 922.0 m | 1.8 bn | 2.0 bn | 2.1 bn | 2.4 bn | SEC (XBRL)· 12 Feb 2026verified |
| Current liabilities | 1.9 bn | 1.8 bn | 2.3 bn | 1.6 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 12 Feb 2026verified |
| Total liabilities | 3.2 bn | 3.2 bn | 4.8 bn | 4.3 bn | 4.4 bn | 4.9 bn | SEC (XBRL)· 12 Feb 2026verified |
| Equity | 2.1 bn † | 3.0 bn † | 2.7 bn † | 3.0 bn † | 3.6 bn † | 3.6 bn † | SEC (XBRL)· 12 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 962.0 m | 1.1 bn | 488.0 m | -4.0 m | 1.0 bn | 917.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Capex | 67.0 m | 59.0 m | 75.0 m | 87.0 m | 59.0 m | 86.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Free cash flow | 895.0 m ≈ | 1.0 bn ≈ | 413.0 m ≈ | -91.0 m ≈ | 954.0 m ≈ | 831.0 m ≈ | SEC (XBRL)· 12 Feb 2026derived |
| Investing cash flow | -641.0 m | -546.0 m | -968.0 m | -92.0 m | -57.0 m | -1.5 bn | SEC (XBRL)· 12 Feb 2026verified |
| Financing cash flow | -157.0 m | -371.0 m | 253.0 m | 117.0 m | -190.0 m | -239.0 m | SEC (XBRL)· 12 Feb 2026verified |
| Share repurchases | 200.0 m | 57.0 m | 751.0 m | 52.0 m | 47.0 m | 587.0 m | SEC (XBRL)· 12 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
Score: 36 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 15.7 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation31
- Returns86
- Quality53
- Balance sheet39
- Growth0
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 178.75 – 521.07 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDA239.28 – 521.07 (Mid 270.38)3 companies used · median multiple 13.3x · quartiles 12.0x – 23.6xGHM, GTES, IR
- Peers: P/E178.75 – 324.85 (Mid 293.39)7 companies used · median multiple 23.7x · quartiles 14.4x – 26.2xEFXT, GTEC, GTES, IR, ITW, TWIN, ZWS
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 36/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 13.6% | 33 (vs peers) | 12% |
| Net margin · Quality | 9.8% | 38 (vs peers) | 7% |
| FCF conversion · Quality | 164.1% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -2.3% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | -2.4% | 0 (on a fixed band) | 9% |
| Net debt / EBITDA · Balance sheet | 2.1x | 54 (on a fixed band) | 12% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 26.8x | 25 (vs peers) | 12% |
| EV/EBITDA · Valuation | 15.8x | 0 (on a fixed band) | 12% |
| FCF yield · Valuation | 6.3% | 79 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 6.0% | 86 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet39/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality53/100 · 3/3 factors with a value
- Returns· partial86/100 · 1/2 factors with a value
- Valuation31/100 · 3/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Zebra Technologies Corporation (ZBRA). Latest full fiscal year: 2025; data up to 2026-10-03.
Figures computed from the financial statements: revenue 5.4 bn USD in 2025; YoY growth 8.3%; net margin 9.8%; ROE 16.5%; net debt/EBITDA 2.1x.
The estimated value range is 209.01–422.96 USD per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 281.89 USD, the price of 332.44 USD leaves a potential of -15.2% (value / price − 1) and a margin of safety of -17.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 36/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 164.1%
- FCF yield: 6.3%
- Shareholder yield (distributions): 6.0%
What contradicts it
- Revenue CAGR 3Y: -2.3%
- EPS CAGR 3Y: -2.4%
- Current ratio: 0.6x
- P/E (TTM): 26.8x
- EV/EBITDA: 15.8x
Not assessed (insufficient data or a ratio without meaning): Interest coverage, Payout ratio (FCF).
Versus the vertical median
General Industrial Machinery & Equipment (SIC 3560) · same industry (4-digit SIC) · compared with 8 companies
The size band was not applied: too few companies would have remained; the vertical includes much smaller or larger companies.
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ITWIllinois Tool Works Inc | 83.4 bn | 26.1 | 101.7% | 19.4% | +0.9% | +18% / +21% |
| IRIngersoll Rand Inc. | 32.3 bn | 23.7 | 13.4% | 17.2% | +5.7% | +5% / +18% |
| ZBRAZebra Technologies Corporation | 15.7 bn | 26.8 | 16.5% | 9.8% | +8.3% | +28% / +55% |
| ZWSZurn Elkay Water Solutions Corporation | 7.5 bn | 26.3 | 17.7% | 15.9% | +8.3% | −5% / +53% |
| GTESGates Industrial Corporation Ltd. | 6.1 bn | 17.0 | 10.6% | 10.4% | +1.0% | +7% / +100% |
| EFXTEnerflex Ltd | 2.5 bn | 39.3 | 6.0% | 2.5% | +6.5% | +46% / +377% |
| GHMGraham Corporation | 816.0 m | 67.1 | 7.5% | 4.5% | +16.9% | +21% / +275% |
| TWINTwin Disc, Incorporated | 370.7 m | 11.9 | 16.3% | 8.0% | +11.9% | +64% / +86% |
| GTECGreenland Technologies Holding Corporation | 10.7 m | 0.9 | 16.0% | 12.3% | +8.0% | −51% / −79% |
1- and 3-year price returns: for ZBRA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 189.06 Total return -43% · Per year -43% | 335.42 Total return 1% · Per year 1% | 506.83 Total return 52% · Per year 52% |
| 3 years | 159.36 Total return -52% · Per year -22% | 320.35 Total return -4% · Per year -1% | 534.87 Total return 61% · Per year 17% |
| 5 years | 134.33 Total return -60% · Per year -17% | 305.97 Total return -8% · Per year -2% | 564.46 Total return 70% · Per year 11% |
- Exit P/E± 80.09
- Net margin± 56.06
- Annual revenue growth± 49.21
- Annual dilution± 4.71
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (03 Nov 2026 · results).
In brief
Zebra Technologies is a global leader in automatic identification and data capture (AIDC), with net sales of 5.396 bn USD in fiscal 2025 1. In the second quarter of 2026 (ended July 4, 2026) net sales grew 20.4% to 1.557 bn USD, and the company raised its full-year outlook 3.
SWOT
Strengths
- The company has a large installed base, long-standing customer relationships and an extensive partner network that the filing describes as hard for a new entrant to replicate 1.
- Diversification across segments, markets and regions, together with recurring revenue from services and supplies, provides stability 1.
- Cash flow and the cash position in the first half of 2026 allow investment and share repurchases 3.
Weaknesses
- Margins can be affected by tariff and component costs, and management reported lower gross margin in fiscal 2025 1.
- Integrating acquisitions such as Elo carries risks of goodwill impairment and delays in realizing synergies 1.
- The level of debt could limit financial flexibility if market conditions become more difficult 3.
Opportunities
Risks
- Acquisition integrationhigh
Integrating Elo could delay synergies and lead to goodwill impairment if expected results are not reached 1.
- Dependence on Asian suppliershigh
Components and final products come largely from outside the US, including China, exposing the company to logistics and tariff disruption 1.
- Geopolitical risksmedium
Regional conflicts and trade tensions could restrict sales and raise energy and logistics costs 1.
- Competitive pressuremedium
Competition and new entrants could force price cuts and erode margins 1.
- Component costslow
Higher memory costs could weigh on margins if they cannot be fully passed on to customers 3.
Investment thesis
What would need to be true (bull case)
- If demand for automation and AI on the frontline continues, sales could exceed current guidance, supported by second quarter growth 3.
- Realizing productivity savings and integrating acquisitions efficiently could support margins over the medium term 13.
- The large installed base and recurring revenue could provide stability in periods of volatile demand 1.
What would break the thesis
- If tariffs or component costs rise again, gross margin could fall back toward fiscal 2025 levels 13.
- If the Elo integration does not deliver the expected results, goodwill impairment and one-time charges could follow 1.
- A slowdown in customer investment or worsening geopolitics could reduce orders in several regions 1.
What to watch
- Delivery of the raised full-year sales growth outlook2026
- Gross margin trend and effect of tariff refundsQ3 2026
- Free cash flow against the outlook of more than 1 bn USD2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 04 Aug 2026; since then the company filed 10-Q (03 Nov 2026), 8-K (03 Nov 2026 · results).
The business
Market context
Trends
- Automation and AI on the frontlinetailwind
Demand for automation, computer vision and AI in frontline operations supports the company's portfolio, which is built around these trends 13.
- Import tariffsmixed
Tariffs in 2025 reduced gross margin, but the Supreme Court invalidated part of them in February 2026 and the company recognized a 73 mn USD recovery 12.
- Memory component costsheadwind
Higher memory costs were offset through price realization, according to the company's second quarter 2026 commentary 3.
- Equipment refresh cyclestailwind
Transitions to new network and mobile operating system standards could create replacement demand for installed devices 1.
Competitive position
The company notes that it could lose market share to global or local competitors that may have stronger regional brands, and that price competition could reduce margins 1.
Competition is also extending through acquisitions and partnerships with component suppliers, which could add pressure on the company's competitive position 1.
- Global AIDC equipment makers
The analysed sources do not name competitors, so no names are given.
- Regional competitors with established local brands
Described generically in the company's risk factors, without specific names.
- Companies pursuing strategic acquisitions
Potential competitors that could strengthen their positions through consolidation, as stated in the risk factors.
- Technology partners and component suppliers
Partners of competitors that could create additional competitive pressure.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Stocks making the biggest moves premarket: Pfizer, Apple, Palantir, Zebra Technologies & moreCNBC — Top News · 03 Nov 2026 · EN
- Is Zebra Technologies Stock Underperforming the Dow?Yahoo Finance — News · 22 Sept 2026 · EN
- Are Wall Street Analysts Bullish on Zebra Technologies Stock?Yahoo Finance — News · 26 Aug 2026 · EN
SEC filings
- Quarterly report03 Nov 2026
- Current report03 Nov 2026Results of operations · Financial statements and exhibits
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report26 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
- Quarterly report12 May 2026
- Current report12 May 2026Results of operations · Financial statements and exhibits
- Proxy statement03 Apr 2026
- Annual report12 Feb 2026
- Current report12 Feb 2026Results of operations · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Zebra Technologies Corporation · 12 Feb 2026
- [2] Form 10-Q, quarter ended 2026-07-04 · SEC / Zebra Technologies Corporation · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Zebra Technologies Corporation · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.