ZEBRA TECHNOLOGIES CORPORATION |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 317.9 USD | -0.62% |
|
+0.66% | +16.30% |
| May. 16 | Needham Raises Price Target on Zebra Technologies to $370 From $352 | MT |
| May. 15 | Zebra Technologies Corporation Announces Board Changes | CI |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 13,774 | 20,491 | 31,808 | 13,238 | 14,038 | 16,346 | - | - |
| Enterprise Value (EV) 1 | 15,021 | 21,568 | 32,467 | 15,156 | 16,121 | 17,838 | 17,172 | 16,674 |
| P/E ratio | 25.6 x | 41.1 x | 38.4 x | 29.1 x | 47.8 x | 35.1 x | 27.3 x | 22.5 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 3.07 x | 4.61 x | 5.65 x | 2.29 x | 3.06 x | 3.42 x | 3.18 x | 2.98 x |
| EV / Revenue | 3.35 x | 4.85 x | 5.77 x | 2.62 x | 3.52 x | 3.73 x | 3.34 x | 3.04 x |
| EV / EBITDA | 15.5 x | 23.6 x | 25 x | 12.3 x | 19.6 x | 18.7 x | 15.6 x | 13.8 x |
| EV / FCF | 24.1 x | 23.9 x | 32.1 x | 36.7 x | -177 x | 27.2 x | 21.4 x | 18.4 x |
| FCF Yield | 4.15% | 4.18% | 3.11% | 2.72% | -0.56% | 3.67% | 4.67% | 5.42% |
| Price to Book | 7.5 x | 9.58 x | 10.7 x | 4.83 x | 4.63 x | 4.53 x | 3.84 x | 3.26 x |
| Nbr of stocks (in thousands) | 53,921 | 53,316 | 53,441 | 51,630 | 51,360 | 51,419 | - | - |
| Reference price 2 | 255.4 | 384.3 | 595.2 | 256.4 | 273.3 | 317.9 | 317.9 | 317.9 |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/16/23 | 2/15/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 4,485 | 4,448 | 5,627 | 5,791 | 4,584 | 4,776 | 5,140 | 5,492 |
| EBITDA 1 | 970 | 914 | 1,297 | 1,235 | 824 | 952.7 | 1,099 | 1,205 |
| EBIT 1 | 898 | 847 | 1,225 | 1,168 | 755 | 886.9 | 1,031 | 1,151 |
| Operating Margin | 20.02% | 19.04% | 21.77% | 20.17% | 16.47% | 18.57% | 20.06% | 20.95% |
| Earnings before Tax (EBT) 1 | 598 | 560 | 968 | 544 | 334 | 562.7 | 727.4 | 830.5 |
| Net income 1 | 544 | 504 | 837 | 463 | 296 | 468.8 | 603 | 726.5 |
| Net margin | 12.13% | 11.33% | 14.87% | 8% | 6.46% | 9.82% | 11.73% | 13.23% |
| EPS 2 | 9.970 | 9.350 | 15.52 | 8.800 | 5.720 | 9.053 | 11.66 | 14.13 |
| Free Cash Flow 1 | 624 | 901 | 1,010 | 413 | -91 | 655 | 802.6 | 904 |
| FCF margin | 13.91% | 20.26% | 17.95% | 7.13% | -1.99% | 13.71% | 15.61% | 16.46% |
| FCF Conversion (EBITDA) | 64.33% | 98.58% | 77.87% | 33.44% | - | 68.76% | 73.03% | 74.99% |
| FCF Conversion (Net income) | 114.71% | 178.77% | 120.67% | 89.2% | - | 139.72% | 133.09% | 124.43% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/16/23 | 2/15/24 | - | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,467 | 1,432 | 1,468 | 1,378 | 1,503 | 1,405 | 1,214 | 956 | 1,009 | 1,175 | 1,181 | 1,190 | 1,225 | 1,272 | 1,280 |
| EBITDA 1 | 319 | 285 | 321 | 291 | 338 | 301 | 257 | 111 | 155 | 234 | 228.3 | 242.9 | 261.4 | 274.3 | 274.5 |
| EBIT 1 | 301 | 266 | 301 | 275 | 322 | 284 | 239 | 94 | 138 | 217 | 209.7 | 220.9 | 240.8 | 267 | 258.7 |
| Operating Margin | 20.52% | 18.58% | 20.5% | 19.96% | 21.42% | 20.21% | 19.69% | 9.83% | 13.68% | 18.47% | 17.76% | 18.57% | 19.65% | 20.99% | 20.2% |
| Earnings before Tax (EBT) 1 | 226 | 250 | -153 | 222 | 225 | 185 | 171 | -24 | 2 | 142 | 127.7 | 144.1 | 164.6 | 184.8 | 186.2 |
| Net income 1 | 191 | 205 | -98 | 170 | 186 | 150 | 144 | -15 | 17 | 115 | 102.9 | 118.4 | 132.5 | 145.3 | 154.5 |
| Net margin | 13.02% | 14.32% | -6.68% | 12.34% | 12.38% | 10.68% | 11.86% | -1.57% | 1.68% | 9.79% | 8.72% | 9.95% | 10.82% | 11.42% | 12.07% |
| EPS 2 | 3.550 | 3.830 | -1.870 | 3.260 | 3.570 | 2.900 | 2.780 | -0.2800 | 0.3100 | 2.230 | 1.984 | 2.285 | 2.554 | 2.794 | 2.966 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 2/10/22 | 5/3/22 | 8/2/22 | 11/1/22 | 2/16/23 | 5/2/23 | 8/1/23 | 10/31/23 | 2/15/24 | 4/30/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,247 | 1,077 | 659 | 1,918 | 2,083 | 1,492 | 827 | 328 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 1.286 x | 1.178 x | 0.5081 x | 1.553 x | 2.528 x | 1.567 x | 0.7521 x | 0.2724 x |
| Free Cash Flow 1 | 624 | 901 | 1,010 | 413 | -91 | 655 | 803 | 904 |
| ROE (net income / shareholders' equity) | 44.5% | 34.6% | 38.8% | 16.2% | 17.6% | 17.7% | 18.2% | 17.7% |
| ROA (Net income/ Total Assets) | 12% | 13.7% | 14.4% | 6.74% | 6.85% | 8.5% | 9% | 8.1% |
| Assets 1 | 4,525 | 3,679 | 5,795 | 6,872 | 4,322 | 5,516 | 6,700 | 8,969 |
| Book Value Per Share 2 | 34.10 | 40.10 | 55.90 | 53.10 | 59.10 | 70.10 | 82.70 | 97.40 |
| Cash Flow per Share 2 | 12.50 | - | - | 9.280 | -0.0800 | 12.90 | 15.70 | 17.40 |
| Capex 1 | 61 | 67 | 59 | 75 | 87 | 79 | 83.4 | 87.1 |
| Capex / Sales | 1.36% | 1.51% | 1.05% | 1.3% | 1.9% | 1.65% | 1.62% | 1.59% |
| Announcement Date | 2/13/20 | 2/11/21 | 2/10/22 | 2/16/23 | 2/15/24 | - | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
317.9
USD
Average target price
333.8
USD
Spread / Average Target
+5.00%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +16.30% | 16.35B | |
| +17.32% | 114B | |
| -2.15% | 29.67B | |
| +13.08% | 22.5B | |
| -8.93% | 19.27B | |
| -9.23% | 16.93B | |
| -3.81% | 12.34B | |
| +2.15% | 11.18B | |
| +12.54% | 8.49B | |
| -0.98% | 8.3B |
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- Financials Zebra Technologies Corporation
