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ZEBRA TECHNOLOGIES CORP-CL A (ZBRA) Stock Fundamental Analysis

NASDAQ:ZBRA - Nasdaq - US9892071054 - Common Stock - Currency: USD

383.46  -2.63 (-0.68%)

After market: 383.46 0 (0%)

Fundamental Rating

5

ZBRA gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 124 industry peers in the Electronic Equipment, Instruments & Components industry. ZBRA scores excellent on profitability, but there are some minor concerns on its financial health. ZBRA has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

ZBRA had positive earnings in the past year.
In the past year ZBRA had a positive cash flow from operations.
Each year in the past 5 years ZBRA has been profitable.
ZBRA had a positive operating cash flow in 4 of the past 5 years.
ZBRA Yearly Net Income VS EBIT VS OCF VS FCFZBRA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M 800M 1B

1.2 Ratios

The Return On Assets of ZBRA (4.97%) is better than 73.33% of its industry peers.
The Return On Equity of ZBRA (11.17%) is better than 76.67% of its industry peers.
ZBRA's Return On Invested Capital of 8.92% is fine compared to the rest of the industry. ZBRA outperforms 77.50% of its industry peers.
The Average Return On Invested Capital over the past 3 years for ZBRA is significantly above the industry average of 8.97%.
The 3 year average ROIC (14.81%) for ZBRA is well above the current ROIC(8.92%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 4.97%
ROE 11.17%
ROIC 8.92%
ROA(3y)7.89%
ROA(5y)8.92%
ROE(3y)18.25%
ROE(5y)21.57%
ROIC(3y)14.81%
ROIC(5y)16.07%
ZBRA Yearly ROA, ROE, ROICZBRA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 -10 20 30

1.3 Margins

The Profit Margin of ZBRA (8.20%) is better than 79.17% of its industry peers.
In the last couple of years the Profit Margin of ZBRA has declined.
With an excellent Operating Margin value of 13.51%, ZBRA belongs to the best of the industry, outperforming 88.33% of the companies in the same industry.
In the last couple of years the Operating Margin of ZBRA has declined.
ZBRA has a Gross Margin of 47.53%. This is amongst the best in the industry. ZBRA outperforms 82.50% of its industry peers.
In the last couple of years the Gross Margin of ZBRA has remained more or less at the same level.
Industry RankSector Rank
OM 13.51%
PM (TTM) 8.2%
GM 47.53%
OM growth 3Y-6.07%
OM growth 5Y-3.07%
PM growth 3Y-17.09%
PM growth 5Y-8.34%
GM growth 3Y0.94%
GM growth 5Y-0.28%
ZBRA Yearly Profit, Operating, Gross MarginsZBRA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 10 20 30 40

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5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ZBRA is creating some value.
Compared to 1 year ago, ZBRA has less shares outstanding
ZBRA has less shares outstanding than it did 5 years ago.
ZBRA has a worse debt/assets ratio than last year.
ZBRA Yearly Shares OutstandingZBRA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M 40M 50M
ZBRA Yearly Total Debt VS Total AssetsZBRA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

2.2 Solvency

ZBRA has an Altman-Z score of 4.60. This indicates that ZBRA is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of ZBRA (4.60) is better than 71.67% of its industry peers.
ZBRA has a debt to FCF ratio of 2.82. This is a good value and a sign of high solvency as ZBRA would need 2.82 years to pay back of all of its debts.
ZBRA's Debt to FCF ratio of 2.82 is fine compared to the rest of the industry. ZBRA outperforms 69.17% of its industry peers.
A Debt/Equity ratio of 0.61 indicates that ZBRA is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.61, ZBRA is doing worse than 79.17% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 2.82
Altman-Z 4.6
ROIC/WACC0.89
WACC10.07%
ZBRA Yearly LT Debt VS Equity VS FCFZBRA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B 2B 3B

2.3 Liquidity

ZBRA has a Current Ratio of 1.37. This is a normal value and indicates that ZBRA is financially healthy and should not expect problems in meeting its short term obligations.
ZBRA has a Current ratio of 1.37. This is amonst the worse of the industry: ZBRA underperforms 85.83% of its industry peers.
ZBRA has a Quick Ratio of 1.37. This is a bad value and indicates that ZBRA is not financially healthy enough and could expect problems in meeting its short term obligations.
ZBRA has a Quick ratio of 0.96. This is amonst the worse of the industry: ZBRA underperforms 81.67% of its industry peers.
Industry RankSector Rank
Current Ratio 1.37
Quick Ratio 0.96
ZBRA Yearly Current Assets VS Current LiabilitesZBRA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B 2B

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4

3. Growth

3.1 Past

ZBRA shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -12.68%.
Measured over the past years, ZBRA shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.30% on average per year.
ZBRA shows a decrease in Revenue. In the last year, the revenue decreased by -8.31%.
ZBRA shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 1.68% yearly.
EPS 1Y (TTM)-12.68%
EPS 3Y-8.51%
EPS 5Y-2.3%
EPS Q2Q%301.15%
Revenue 1Y (TTM)-8.31%
Revenue growth 3Y1.01%
Revenue growth 5Y1.68%
Sales Q2Q%31.28%

3.2 Future

ZBRA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 19.34% yearly.
ZBRA is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.94% yearly.
EPS Next Y38.98%
EPS Next 2Y28.56%
EPS Next 3Y22.95%
EPS Next 5Y19.34%
Revenue Next Year8.53%
Revenue Next 2Y8.34%
Revenue Next 3Y7.61%
Revenue Next 5Y6.94%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ZBRA Yearly Revenue VS EstimatesZBRA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B 8B
ZBRA Yearly EPS VS EstimatesZBRA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10 20 30

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5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 34.18, the valuation of ZBRA can be described as expensive.
The rest of the industry has a similar Price/Earnings ratio as ZBRA.
Compared to an average S&P500 Price/Earnings ratio of 28.47, ZBRA is valued a bit more expensive.
The Price/Forward Earnings ratio is 23.65, which indicates a rather expensive current valuation of ZBRA.
ZBRA's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. ZBRA is cheaper than 60.83% of the companies in the same industry.
ZBRA's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 92.74.
Industry RankSector Rank
PE 34.18
Fwd PE 23.65
ZBRA Price Earnings VS Forward Price EarningsZBRA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of ZBRA is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, ZBRA is valued a bit cheaper than the industry average as 68.33% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 25.75
EV/EBITDA 26.49
ZBRA Per share dataZBRA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80

4.3 Compensation for Growth

ZBRA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of ZBRA may justify a higher PE ratio.
A more expensive valuation may be justified as ZBRA's earnings are expected to grow with 22.95% in the coming years.
PEG (NY)0.88
PEG (5Y)N/A
EPS Next 2Y28.56%
EPS Next 3Y22.95%

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0

5. Dividend

5.1 Amount

No dividends for ZBRA!.
Industry RankSector Rank
Dividend Yield N/A

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ZEBRA TECHNOLOGIES CORP-CL A

NASDAQ:ZBRA (2/4/2025, 8:17:37 PM)

After market: 383.46 0 (0%)

383.46

-2.63 (-0.68%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryElectronic Equipment, Instruments & Components
Earnings (Last)10-29 2024-10-29/bmo
Earnings (Next)02-13 2025-02-13/amc
Inst Owners92.98%
Inst Owner Change0.09%
Ins Owners0.71%
Ins Owner Change-0.52%
Market Cap19.78B
Analysts75.83
Price Target424.77 (10.77%)
Short Float %1.32%
Short Ratio1.95
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)8.45%
Min EPS beat(2)5.75%
Max EPS beat(2)11.15%
EPS beat(4)4
Avg EPS beat(4)7.95%
Min EPS beat(4)1.12%
Max EPS beat(4)13.76%
EPS beat(8)6
Avg EPS beat(8)4.38%
EPS beat(12)9
Avg EPS beat(12)2.86%
EPS beat(16)13
Avg EPS beat(16)4.79%
Revenue beat(2)2
Avg Revenue beat(2)1.06%
Min Revenue beat(2)1%
Max Revenue beat(2)1.13%
Revenue beat(4)3
Avg Revenue beat(4)0.39%
Min Revenue beat(4)-0.98%
Max Revenue beat(4)1.13%
Revenue beat(8)5
Avg Revenue beat(8)-0.8%
Revenue beat(12)6
Avg Revenue beat(12)-1.22%
Revenue beat(16)9
Avg Revenue beat(16)-0.77%
PT rev (1m)1.83%
PT rev (3m)10.21%
EPS NQ rev (1m)-0.14%
EPS NQ rev (3m)18.23%
EPS NY rev (1m)0%
EPS NY rev (3m)1.96%
Revenue NQ rev (1m)-0.07%
Revenue NQ rev (3m)7.01%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.68%
Valuation
Industry RankSector Rank
PE 34.18
Fwd PE 23.65
P/S 4.25
P/FCF 25.75
P/OCF 23.32
P/B 5.78
P/tB N/A
EV/EBITDA 26.49
EPS(TTM)11.22
EY2.93%
EPS(NY)16.21
Fwd EY4.23%
FCF(TTM)14.89
FCFY3.88%
OCF(TTM)16.44
OCFY4.29%
SpS90.27
BVpS66.32
TBVpS-17.86
PEG (NY)0.88
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 4.97%
ROE 11.17%
ROCE 10.26%
ROIC 8.92%
ROICexc 10.02%
ROICexgc 49.22%
OM 13.51%
PM (TTM) 8.2%
GM 47.53%
FCFM 16.49%
ROA(3y)7.89%
ROA(5y)8.92%
ROE(3y)18.25%
ROE(5y)21.57%
ROIC(3y)14.81%
ROIC(5y)16.07%
ROICexc(3y)15.53%
ROICexc(5y)16.7%
ROICexgc(3y)146.76%
ROICexgc(5y)N/A
ROCE(3y)17.05%
ROCE(5y)18.5%
ROICexcg growth 3YN/A
ROICexcg growth 5Y-26.39%
ROICexc growth 3Y-19.87%
ROICexc growth 5Y-12.95%
OM growth 3Y-6.07%
OM growth 5Y-3.07%
PM growth 3Y-17.09%
PM growth 5Y-8.34%
GM growth 3Y0.94%
GM growth 5Y-0.28%
F-Score7
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 0.61
Debt/FCF 2.82
Debt/EBITDA 2.59
Cap/Depr 45.98%
Cap/Sales 1.72%
Interest Coverage 250
Cash Conversion 105.6%
Profit Quality 201.05%
Current Ratio 1.37
Quick Ratio 0.96
Altman-Z 4.6
F-Score7
WACC10.07%
ROIC/WACC0.89
Cap/Depr(3y)39.25%
Cap/Depr(5y)39.7%
Cap/Sales(3y)1.41%
Cap/Sales(5y)1.42%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-12.68%
EPS 3Y-8.51%
EPS 5Y-2.3%
EPS Q2Q%301.15%
EPS Next Y38.98%
EPS Next 2Y28.56%
EPS Next 3Y22.95%
EPS Next 5Y19.34%
Revenue 1Y (TTM)-8.31%
Revenue growth 3Y1.01%
Revenue growth 5Y1.68%
Sales Q2Q%31.28%
Revenue Next Year8.53%
Revenue Next 2Y8.34%
Revenue Next 3Y7.61%
Revenue Next 5Y6.94%
EBIT growth 1Y-17.78%
EBIT growth 3Y-5.12%
EBIT growth 5Y-1.44%
EBIT Next Year54.76%
EBIT Next 3Y24.39%
EBIT Next 5Y18.23%
FCF growth 1Y101.05%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y86.78%
OCF growth 3YN/A
OCF growth 5YN/A