Zebra Technologies Corporation (ZBRA) financial statements: income statement, balance sheet and cash flow

Zebra Technologies Corporation's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Zebra Technologies Corporation reported revenue of $5.4B (+8.3% year on year) and net income of $419.0M (-20.6% year on year).

Income statement

Zebra Technologies Corporation income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Total Net sales	$5.4B	$5.0B	$4.6B	$5.8B
Total Cost of sales	$2.8B	$2.6B	$2.5B	$3.2B
Gross profit	$2.6B	$2.4B	$2.1B	$2.6B
Selling and marketing	$653.0M	$600.0M	$581.0M	$607.0M
Research and development	$593.0M	$563.0M	$519.0M	$570.0M
General and administrative	$433.0M	$381.0M	$334.0M	$375.0M
Amortization of intangible assets	$114.0M	$104.0M	$104.0M	$136.0M
Acquisition and integration costs	$24.0M	$6.0M	$6.0M	$21.0M
Exit and restructuring costs	$76.0M	$17.0M	$98.0M	$14.0M
Total Operating expenses	$1.9B	$1.7B	$1.6B	$2.1B
Operating income	$700.0M	$742.0M	$481.0M	$529.0M
Foreign exchange (loss) gain	($18.0M)	$5.0M	($2.0M)	($3.0M)
Interest expense, net	($108.0M)	($98.0M)	($133.0M)	$23.0M
Other expense, net	($14.0M)	($14.0M)	($12.0M)	($5.0M)
Total Other expense, net	($140.0M)	($107.0M)	($147.0M)	$15.0M
Income before income tax	$560.0M	$635.0M	$334.0M	$544.0M
Income tax expense	$141.0M	$107.0M	$38.0M	$81.0M
Net income	$419.0M	$528.0M	$296.0M	$463.0M
Basic earnings per share (in USD per share)	$8.24	$10.25	$5.75	$8.86
Diluted earnings per share (in USD per share)	$8.18	$10.18	$5.72	$8.80

Zebra Technologies Corporation income statement, quarters

Line item	Jul 4, 2026 · Q3	Apr 4, 2026 · Q2	Sep 27, 2025 · Q3	Jun 28, 2025 · Q2
Total Net sales	$1.6B	$1.5B	$1.3B	$1.3B
Total Cost of sales	$732.0M	$753.0M	$686.0M	$677.0M
Gross profit	$825.0M	$742.0M	$634.0M	$616.0M
Selling and marketing	$184.0M	$189.0M	$159.0M	$158.0M
Research and development	$159.0M	$165.0M	$146.0M	$144.0M
General and administrative	$114.0M	$127.0M	$111.0M	$102.0M
Amortization of intangible assets	$37.0M	$37.0M	$25.0M	$25.0M
Acquisition and integration costs	$2.0M	$1.0M	$10.0M	$4.0M
Exit and restructuring costs	$8.0M	$8.0M	$0	$0
Total Operating expenses	$504.0M	$527.0M	$451.0M	$433.0M
Operating income	$321.0M	$215.0M	$183.0M	$183.0M
Foreign exchange loss	($2.0M)	$0	$1.0M	($11.0M)
Interest expense, net	($35.0M)	($37.0M)	($23.0M)	($25.0M)
Other income (expense), net	$1.0M	($11.0M)	($2.0M)	($9.0M)
Total Other expense, net	($36.0M)	($48.0M)	($24.0M)	($45.0M)
Income before income tax	$285.0M	$167.0M	$159.0M	$138.0M
Income tax expense	$52.0M	$32.0M	$58.0M	$26.0M
Net income	$233.0M	$135.0M	$101.0M	$112.0M
Basic earnings per share (in USD per share)	$4.89	$2.74	$1.98	$2.20
Diluted earnings per share (in USD per share)	$4.85	$2.72	$1.97	$2.19

Balance sheet

Zebra Technologies Corporation balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$125.0M	$901.0M	$137.0M	$105.0M
Accounts receivable, net of allowances for doubtful accounts of $1 million each as of December 31, 2025 and 2024	$801.0M	$692.0M	$521.0M	$768.0M
Inventories, net	$729.0M	$693.0M	$804.0M	$860.0M
Income tax receivable	$31.0M	$20.0M	$63.0M	$26.0M
Prepaid expenses and other current assets	$110.0M	$134.0M	$147.0M	$124.0M
Total Current assets	$1.8B	$2.4B	$1.7B	$1.9B
Property, plant and equipment, net	$353.0M	$305.0M	$309.0M	$278.0M
Right-of-use lease assets	$166.0M	$167.0M	$169.0M	$156.0M
Goodwill	$4.7B	$3.9B	$3.9B	$3.9B
Other intangibles, net	$809.0M	$422.0M	$527.0M	$630.0M
Deferred income taxes	$414.0M	$512.0M	$438.0M	$407.0M
Other long-term assets	$237.0M	$231.0M	$296.0M	$276.0M
Total Assets	$8.5B	$8.0B	$7.3B	$7.5B
Current portion of long-term debt	$141.0M	$79.0M	$173.0M	$214.0M
Accounts payable	$695.0M	$633.0M	$456.0M	$811.0M
Accrued liabilities	$558.0M	$503.0M	$504.0M	$744.0M
Deferred revenue	$446.0M	$453.0M	$458.0M	$425.0M
Income taxes payable	$12.0M	$36.0M	$7.0M	$138.0M
Total Current liabilities	$1.9B	$1.7B	$1.6B	$2.3B
Long-term debt	$2.4B	$2.1B	$2.0B	$1.8B
Long-term lease liabilities	$157.0M	$155.0M	$152.0M	$139.0M
Deferred income taxes	$32.0M	$57.0M	$67.0M	$75.0M
Long-term deferred revenue	$396.0M	$304.0M	$312.0M	$333.0M
Other long-term liabilities	$116.0M	$70.0M	$94.0M	$108.0M
Total Liabilities	$4.9B	$4.4B	$4.3B	$4.8B
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued	0	0	0	0
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares	1.0M	1.0M	1.0M	1.0M
Additional paid-in capital	$814.0M	$669.0M	$615.0M	$561.0M
Treasury stock at cost, 22,558,911 and 20,645,798 shares as of December 31, 2025 and 2024, respectively	-2.5B	-1.9B	-1.9B	-1.8B
Retained earnings	$5.3B	$4.9B	$4.3B	$4.0B
Accumulated other comprehensive loss	($18.0M)	($44.0M)	($54.0M)	($66.0M)
Total Stockholders’ Equity	$3.6B	$3.6B	$3.0B	$2.7B
Total Liabilities and Stockholders’ Equity	$8.5B	$8.0B	$7.3B	$7.5B

Zebra Technologies Corporation balance sheet, quarters

Line item	Jul 4, 2026	Apr 4, 2026	Sep 27, 2025	Jun 28, 2025
Cash and cash equivalents	$157.0M	$114.0M	$1.1B	$872.0M
Accounts receivable, net of allowances for doubtful accounts of $1 million each as of July 4, 2026 and December 31, 2025	$990.0M	$733.0M	$655.0M	$634.0M
Inventories, net	$733.0M	$692.0M	$663.0M	$686.0M
Income tax receivable	$56.0M	$30.0M	$106.0M	$50.0M
Prepaid expenses and other current assets	$126.0M	$126.0M	$99.0M	$92.0M
Total Current assets	$2.1B	$1.7B	$2.6B	$2.3B
Property, plant and equipment, net	$346.0M	$350.0M	$327.0M	$314.0M
Right-of-use lease assets	$168.0M	$170.0M	$165.0M	$165.0M
Goodwill	$4.7B	$4.7B	$3.9B	$3.9B
Other intangibles, net	$725.0M	$765.0M	$376.0M	$400.0M
Deferred income taxes	$396.0M	$410.0M	$475.0M	$565.0M
Other long-term assets	$239.0M	$233.0M	$217.0M	$229.0M
Total Assets	$8.6B	$8.3B	$8.1B	$7.9B
Current portion of long-term debt	$2.3B	$264.0M	$66.0M	$44.0M
Accounts payable	$738.0M	$581.0M	$533.0M	$569.0M
Accrued liabilities	$506.0M	$459.0M	$497.0M	$469.0M
Deferred revenue	$444.0M	$434.0M	$456.0M	$457.0M
Income taxes payable	$35.0M	$25.0M	$51.0M	$55.0M
Total Current liabilities	$4.0B	$1.8B	$1.6B	$1.6B
Long-term debt	$493.0M	$2.4B	$2.1B	$2.1B
Long-term lease liabilities	$156.0M	$158.0M	$151.0M	$152.0M
Deferred income taxes	$31.0M	$32.0M	$65.0M	$58.0M
Long-term deferred revenue	$391.0M	$398.0M	$318.0M	$315.0M
Other long-term liabilities	$133.0M	$124.0M	$76.0M	$74.0M
Total Liabilities	$5.2B	$4.9B	$4.3B	$4.3B
Preferred stock, $.01 par value; authorized 10,000,000 shares; none issued	0	0	0	0
Class A common stock, $.01 par value; authorized 150,000,000 shares; issued 72,151,857 shares	1.0M	1.0M	1.0M	1.0M
Additional paid-in capital	$882.0M	$866.0M	$781.0M	$733.0M
Treasury stock at cost, 24,762,921 and 22,558,911 shares as of July 4, 2026 and December 31, 2025, respectively	-3.1B	-2.8B	-2.2B	-2.1B
Retained earnings	$5.6B	$5.4B	$5.2B	$5.1B
Accumulated other comprehensive loss	($38.0M)	($24.0M)	($63.0M)	($78.0M)
Total Stockholders’ Equity	$3.4B	$3.5B	$3.7B	$3.6B
Total Liabilities and Stockholders’ Equity	$8.6B	$8.3B	$8.1B	$7.9B

Cash flow statement

Zebra Technologies Corporation cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$419.0M	$528.0M	$296.0M	$463.0M
Depreciation and amortization	$185.0M	$172.0M	$176.0M	$204.0M
Impairment of goodwill, intangibles and other assets	$45.0M	—	—	—
Equity-settled share-based compensation	$163.0M	$89.0M	$55.0M	$88.0M
Deferred income taxes	$21.0M	($94.0M)	($36.0M)	($210.0M)
Unrealized gain on forward interest rate swaps	$0	($31.0M)	$17.0M	($89.0M)
Other, net	$14.0M	$14.0M	$3.0M	$1.0M
Accounts receivable, net	($39.0M)	($181.0M)	$249.0M	($5.0M)
Inventories, net	$54.0M	$105.0M	$50.0M	($341.0M)
Other assets	$6.0M	$9.0M	($25.0M)	($48.0M)
Accounts payable	$1.0M	$176.0M	($365.0M)	$92.0M
Accrued liabilities	($29.0M)	$131.0M	($97.0M)	($51.0M)
Deferred revenue	$75.0M	($13.0M)	$12.0M	$60.0M
Income taxes	($1.0M)	$68.0M	($168.0M)	$108.0M
Settlement liability	$0	($45.0M)	($180.0M)	$225.0M
Cash receipts on forward interest rate swaps	$0	$86.0M	—	—
Other operating activities	$3.0M	($1.0M)	$9.0M	($13.0M)
Net cash provided by (used in) operating activities	$917.0M	$1.0B	($4.0M)	$488.0M
Acquisition of businesses, net of cash acquired	($1.4B)	$0	$0	($881.0M)
Purchases of property, plant and equipment	($86.0M)	($59.0M)	($87.0M)	($75.0M)
Proceeds from sale (purchases) of short-term investments	$0	$5.0M	—	—
Proceeds from the sale of long-term investments	$1.0M	—	—	$0
Purchases of long-term investments	($5.0M)	($3.0M)	($1.0M)	($12.0M)
Net cash used in investing activities	($1.5B)	($57.0M)	($92.0M)	($968.0M)
Proceeds from issuance of debt	$347.0M	$651.0M	$440.0M	$1.3B
Payments of debt	($19.0M)	($694.0M)	($245.0M)	($247.0M)
Payment of debt issuance costs, extinguishment costs and discounts	$0	($9.0M)	$0	($8.0M)
Payments for repurchases of common stock	($587.0M)	($47.0M)	($52.0M)	($751.0M)
Net payments related to share-based compensation plans	($14.0M)	($30.0M)	($8.0M)	($14.0M)
Change in unremitted cash collections from servicing factored receivables	$34.0M	($61.0M)	($18.0M)	($11.0M)
Net cash (used in) provided by financing activities	($239.0M)	($190.0M)	$117.0M	$253.0M
Effect of exchange rate changes on cash and cash equivalents, including restricted cash	$1.0M	($3.0M)	$0	$0
Net (decrease) increase in cash and cash equivalents, including restricted cash	($776.0M)	$763.0M	$21.0M	($227.0M)
Cash and cash equivalents, including restricted cash, at beginning of period	$901.0M	$138.0M	$117.0M	$344.0M
Cash and cash equivalents, including restricted cash, at end of period	$125.0M	$901.0M	$138.0M	$117.0M
Less restricted cash, included in Prepaid expenses and other current assets	$0	$0	($1.0M)	($12.0M)
Cash and cash equivalents at end of period	$125.0M	$901.0M	$137.0M	$105.0M
Income taxes paid	$134.0M	$124.0M	$252.0M	$168.0M
Interest paid, net of forward interest rate swaps	$129.0M	$55.0M	$111.0M	$58.0M

Zebra Technologies Corporation cash flow statement, quarters

Line item	Jul 4, 2026 · YTD	Apr 4, 2026 · Q2	Sep 27, 2025 · YTD	Jun 28, 2025 · YTD
Net income	$368.0M	$135.0M	$349.0M	$248.0M
Depreciation and amortization	$113.0M	$56.0M	$126.0M	$84.0M
Losses on long-term investments	$15.0M	$15.0M	—	—
Share-based compensation	$94.0M	$58.0M	$130.0M	$83.0M
Deferred income taxes	$9.0M	$0	$61.0M	($30.0M)
Gain on sale of business	($5.0M)	($5.0M)	—	—
Other, net	$0	$1.0M	$13.0M	$12.0M
Accounts receivable, net	($193.0M)	$67.0M	$57.0M	$81.0M
Inventories, net	($7.0M)	$34.0M	$30.0M	$11.0M
Other assets	($10.0M)	($12.0M)	$16.0M	$10.0M
Accounts payable	$35.0M	($119.0M)	($115.0M)	($71.0M)
Accrued liabilities	($35.0M)	($67.0M)	($49.0M)	($101.0M)
Deferred revenue	($8.0M)	($11.0M)	$16.0M	$13.0M
Income taxes	$11.0M	$24.0M	($71.0M)	($10.0M)
Other operating activities	$0	$0	($3.0M)	($5.0M)
Net cash provided by operating activities	$387.0M	$176.0M	$560.0M	$325.0M
Acquisition of business	$0	$0	($62.0M)	($62.0M)
Proceeds from the sale of business	$9.0M	$9.0M	—	—
Purchases of property, plant and equipment	($26.0M)	($13.0M)	($56.0M)	($37.0M)
Proceeds from sale of long-term investments	$1.0M	$1.0M	$1.0M	—
Other investing activities	$1.0M	$1.0M	—	—
Net cash used in investing activities	($15.0M)	($2.0M)	($121.0M)	($99.0M)
Payments of debt	($59.0M)	($37.0M)	$0	$0
Proceeds from issuance of debt	$325.0M	$186.0M	$0	$0
Payments for repurchases of common stock	($568.0M)	($300.0M)	($284.0M)	($250.0M)
Net payments related to share-based compensation plans	($21.0M)	($5.0M)	($15.0M)	($16.0M)
Change in unremitted cash collections from servicing factored receivables	($17.0M)	($29.0M)	$9.0M	$7.0M
Other financing activities	($1.0M)	$0	$4.0M	$2.0M
Net cash used in financing activities	($341.0M)	($185.0M)	($286.0M)	($257.0M)
Effect of exchange rate changes on cash and cash equivalents	$1.0M	$0	($1.0M)	$2.0M
Net increase (decrease) in cash and cash equivalents	$32.0M	($11.0M)	$152.0M	($29.0M)
Cash and cash equivalents at beginning of period	$125.0M	$125.0M	$901.0M	$901.0M
Cash and cash equivalents at end of period	$157.0M	$114.0M	$1.1B	$872.0M
Income taxes paid	$75.0M	$15.0M	$124.0M	$95.0M
Interest paid	$71.0M	$26.0M	—	—

Zebra Technologies Corporation score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.