ZEBRA TECHNOLOGIES CORP
ZBRA · General Industrial Machinery & Equipment · 47.6M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: -$3M (gross $52M, SBC $55M)
Reference price $253.95 · est. market cap ~$12.1B — last insider sale, 2026-05-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B75A global AIDC market leader with strong margins and cash generation, navigating a soft demand year and a large acquisition.
Strengths
- Operating margin 76th pct, ROA 78th pct and FCF in the 89th pct ($831M) reflect a durable, scaled franchise
- Diversified across mobile computing, printing, RFID and machine vision with 10,000+ channel partners in 179 countries
Risks
- Net income fell ~21% (34th pct) amid restructuring, a robotics-business exit and integration risk from the $1.3B Elo deal
- Weak near-term liquidity (current ratio 24th pct, quick ratio 20th pct) and rising leverage post-acquisition
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Weak liquidityCurrent ratio 0.97 (<1)
- Strong balance sheetStrong balance sheet — $228M cash & investments
- Insider buyingInsider buying — 2 open-market buy(s) by 1 insider(s) (~$153,705, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 4 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$911,841, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
48.1%
Operating margin
13.0%
Net margin
7.8%
Return on equity
11.7%
Return on assets
4.9%
ROIC
9.3%
Revenue growth (QoQ)
1.4%
Net-income growth
-20.6%
Debt / equity
0.7×
Net debt / EBITDA
2.4×
Current ratio
1.0×
Free cash flow
$831M
EBITDA
$885M
Tangible book value
-$1.9B
Cash & investments
$228M
Stock comp / revenue
3.0%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-26 | Luff Loizides Melissa | Sell | 500 | $253.95 |
| 2026-05-19 | MCDOWELL MARY T | Grant | 951 | $247.15 |
| 2026-05-19 | SMITH MICHAEL A | Grant | 951 | $247.15 |
| 2026-05-19 | ROBERTS JANICE M | Grant | 951 | $247.15 |
| 2026-05-19 | Connors Nelda J | Grant | 951 | $247.15 |
| 2026-05-19 | Connly Linda | Grant | 951 | $247.15 |
| 2026-05-19 | Dhanasekaran Satish | Grant | 951 | $247.15 |
| 2026-05-19 | Modruson Frank Blaise | Grant | 951 | $247.15 |
| 2026-05-19 | MANIRE ROSS W | Grant | 951 | $247.15 |
| 2026-05-19 | Miller Kenneth Bradley | Grant | 951 | $247.15 |
| 2026-05-19 | GUSTAFSSON ANDERS | Grant | 951 | $247.15 |
| 2026-05-14 | ROBERTS JANICE M | Sell | 3.0K | $249.54 |
| 2026-05-04 | Winters Nathan Andrew | Tax withheld | 2.7K | $223.73 |
| 2026-05-04 | Hudson Richard Edward | Tax withheld | 257 | $223.73 |
| 2026-05-04 | Armstrong Robert John Jr | Tax withheld | 367 | $223.73 |
| 2026-05-04 | Froese Tamara Dionne | Tax withheld | 515 | $223.73 |
| 2026-05-04 | Burns Bill | Tax withheld | 6.2K | $223.73 |
| 2026-05-04 | Kogl Cristen L | Tax withheld | 1.5K | $223.73 |
| 2026-05-04 | O'Sullivan Colleen M | Tax withheld | 334 | $223.73 |
| 2026-05-04 | Luff Loizides Melissa | Tax withheld | 122 | $223.73 |
| 2026-05-04 | Cho Michael | Tax withheld | 779 | $223.73 |
| 2026-05-02 | O'Sullivan Colleen M | Tax withheld | 87 | $227.08 |
| 2026-05-02 | Froese Tamara Dionne | Tax withheld | 139 | $227.08 |
| 2026-05-02 | Luff Loizides Melissa | Tax withheld | 42 | $227.08 |
| 2026-05-02 | Armstrong Robert John Jr | Tax withheld | 147 | $227.08 |
| 2026-05-02 | Burns Bill | Tax withheld | 2.0K | $227.08 |
| 2026-05-02 | Winters Nathan Andrew | Tax withheld | 717 | $227.08 |
| 2026-05-02 | Kogl Cristen L | Tax withheld | 391 | $227.08 |
| 2026-05-02 | Cho Michael | Tax withheld | 162 | $227.08 |
| 2026-04-08 | Burns Bill | Option exercise | 358 | $205.12 |
| 2026-04-08 | Burns Bill | Tax withheld | 184 | $223.50 |
| 2026-04-07 | GUSTAFSSON ANDERS | Tax withheld | 14K | $213.06 |
| 2026-04-07 | GUSTAFSSON ANDERS | Option exercise | 805 | $205.12 |
| 2026-04-07 | GUSTAFSSON ANDERS | Tax withheld | 279 | $212.44 |
| 2026-04-07 | GUSTAFSSON ANDERS | Option exercise | 32K | $51.42 |
| 2026-03-16 | Armstrong Robert John Jr | Tax withheld | 157 | $203.97 |
| 2026-03-12 | Dhanasekaran Satish | Buy | 200 | $205.40 |
| 2026-03-05 | Kogl Cristen L | Sell | 145 | $235.71 |
| 2026-03-05 | Armstrong Robert John Jr | Tax withheld | 8 | $229.44 |
| 2026-03-05 | Armstrong Robert John Jr | Option exercise | 17 | $205.12 |
| 2026-03-05 | Winters Nathan Andrew | Tax withheld | 16 | $229.93 |
| 2026-03-05 | Winters Nathan Andrew | Option exercise | 33 | $205.12 |
| 2026-03-05 | Armstrong Robert John Jr | Sell | 9 | $229.73 |
| 2026-03-05 | Kogl Cristen L | Tax withheld | 142 | $235.00 |
| 2026-03-05 | Kogl Cristen L | Option exercise | 287 | $205.12 |
| 2026-03-04 | O'Sullivan Colleen M | Tax withheld | 101 | $231.42 |
| 2026-03-04 | Kogl Cristen L | Tax withheld | 438 | $231.42 |
| 2026-03-04 | Winters Nathan Andrew | Tax withheld | 812 | $231.42 |
| 2026-03-04 | Armstrong Robert John Jr | Tax withheld | 246 | $231.42 |
| 2026-03-04 | Burns Bill | Tax withheld | 2.2K | $231.42 |
| 2026-03-04 | Luff Loizides Melissa | Tax withheld | 43 | $231.42 |
| 2026-03-04 | Hudson Richard Edward | Tax withheld | 576 | $231.42 |
| 2026-03-04 | Froese Tamara Dionne | Tax withheld | 239 | $231.42 |
| 2026-03-04 | Cho Michael | Tax withheld | 180 | $231.42 |
| 2026-03-03 | Luff Loizides Melissa | Grant | 2.3K | — |
| 2026-03-03 | Kogl Cristen L | Grant | 4.6K | — |
| 2026-03-03 | Armstrong Robert John Jr | Grant | 2.3K | — |
| 2026-03-03 | Froese Tamara Dionne | Grant | 2.4K | — |
| 2026-03-03 | Hudson Richard Edward | Grant | 5.4K | — |
| 2026-03-03 | Cho Michael | Grant | 2.9K | — |
| 2026-03-03 | O'Sullivan Colleen M | Grant | 1.1K | — |
| 2026-03-03 | Winters Nathan Andrew | Grant | 7.8K | — |
| 2026-03-03 | Burns Bill | Grant | 21K | — |
| 2026-03-01 | Burns Bill | Tax withheld | 1.5K | $223.96 |
| 2026-02-27 | Dhanasekaran Satish | Buy | 500 | $225.25 |
| 2026-02-23 | Froese Tamara Dionne | Tax withheld | 109 | $231.32 |
| 2026-02-04 | Burns Bill | Grant | 13K | — |
| 2026-02-04 | Burns Bill | Grant | 12K | — |
| 2026-02-03 | Kogl Cristen L | Grant | 2.4K | — |
| 2026-02-03 | Cho Michael | Grant | 1.6K | — |
| 2026-02-03 | O'Sullivan Colleen M | Grant | 543 | — |
| 2026-02-03 | Winters Nathan Andrew | Grant | 4.1K | — |
| 2026-02-03 | Armstrong Robert John Jr | Grant | 841 | — |
| 2026-02-03 | Luff Loizides Melissa | Grant | 239 | — |
| 2026-02-03 | Froese Tamara Dionne | Grant | 787 | — |
| 2026-02-03 | Cho Michael | Grant | 1.6K | — |
| 2026-02-03 | Kogl Cristen L | Grant | 2.4K | — |
| 2026-02-03 | Hudson Richard Edward | Grant | 347 | — |
| 2026-02-03 | Luff Loizides Melissa | Grant | 244 | — |
| 2026-02-03 | O'Sullivan Colleen M | Grant | 532 | — |
| 2025-12-17 | Kogl Cristen L | Tax withheld | 222 | $254.27 |
| 2025-12-17 | Burns Bill | Tax withheld | 1.0K | $254.27 |
| 2025-12-17 | Hudson Richard Edward | Tax withheld | 150 | $254.27 |
| 2025-12-17 | Schmitz Jeffrey F | Tax withheld | 199 | $254.27 |
| 2025-12-17 | Cho Michael | Tax withheld | 144 | $254.27 |
| 2025-12-17 | O'Sullivan Colleen M | Tax withheld | 53 | $254.27 |
| 2025-11-18 | Dhanasekaran Satish | Buy | 299 | $233.63 |
| 2025-11-18 | Dhanasekaran Satish | Buy | 701 | $232.90 |
| 2025-11-03 | Hudson Richard Edward | Tax withheld | 759 | $270.58 |
| 2025-08-14 | Armstrong Robert John Jr | Tax withheld | 276 | $327.71 |
| 2025-08-12 | Connly Linda | Sell | 1.1K | $322.00 |
| 2025-08-07 | MCDOWELL MARY T | Grant | 569 | $316.01 |
| 2025-05-08 | Modruson Frank Blaise | Grant | 830 | $265.37 |
| 2025-05-08 | Dhanasekaran Satish | Grant | 830 | $265.37 |
| 2025-05-08 | SMITH MICHAEL A | Grant | 830 | $265.37 |
| 2025-05-08 | GUSTAFSSON ANDERS | Grant | 830 | $265.37 |
| 2025-05-08 | ROBERTS JANICE M | Grant | 830 | $265.37 |
| 2025-05-08 | Connors Nelda J | Grant | 830 | $265.37 |
| 2025-05-08 | MANIRE ROSS W | Grant | 830 | $265.37 |
| 2025-05-08 | Miller Kenneth Bradley | Grant | 830 | $265.37 |
| 2025-05-08 | Connly Linda | Grant | 830 | $265.37 |
| 2025-05-07 | Burns Bill | Option exercise | 2.3K | $149.57 |
| 2025-05-07 | Burns Bill | Tax withheld | 1.2K | $257.10 |
| 2025-05-05 | Schmitz Jeffrey F | Tax withheld | 436 | $249.96 |
| 2025-05-05 | O'Sullivan Colleen M | Tax withheld | 126 | $249.93 |
| 2025-05-05 | Kogl Cristen L | Tax withheld | 582 | $249.95 |
| 2025-05-05 | GUSTAFSSON ANDERS | Tax withheld | 3.5K | $249.87 |
| 2025-05-05 | Hudson Richard Edward | Tax withheld | 72 | $250.70 |
| 2025-05-05 | Armstrong Robert John Jr | Tax withheld | 43 | $250.70 |
| 2025-05-05 | Winters Nathan Andrew | Tax withheld | 764 | $250.70 |
| 2025-05-05 | Burns Bill | Tax withheld | 1.0K | $249.97 |
| 2025-05-05 | White Joseph Ramsey | Tax withheld | 223 | $249.90 |
| 2025-05-05 | Cho Michael | Tax withheld | 342 | $250.08 |
| 2025-05-05 | Froese Tamara Dionne | Tax withheld | 85 | $250.70 |
| 2025-05-04 | O'Sullivan Colleen M | Tax withheld | 104 | $255.95 |
| 2025-05-04 | Hudson Richard Edward | Tax withheld | 78 | $255.95 |
| 2025-05-04 | Winters Nathan Andrew | Tax withheld | 857 | $255.95 |
| 2025-05-04 | Schmitz Jeffrey F | Tax withheld | 416 | $255.95 |
| 2025-05-04 | Kogl Cristen L | Tax withheld | 467 | $255.95 |
| 2025-05-04 | Froese Tamara Dionne | Tax withheld | 166 | $255.95 |
| 2025-05-04 | Cho Michael | Tax withheld | 195 | $255.95 |
| 2025-05-02 | Kogl Cristen L | Tax withheld | 391 | $255.95 |
| 2025-05-02 | O'Sullivan Colleen M | Tax withheld | 87 | $255.95 |
| 2025-05-02 | Cho Michael | Tax withheld | 163 | $255.95 |
| 2025-05-02 | Froese Tamara Dionne | Tax withheld | 139 | $255.95 |
| 2025-05-02 | Schmitz Jeffrey F | Tax withheld | 348 | $255.95 |
| 2025-05-02 | Burns Bill | Tax withheld | 2.0K | $255.95 |
| 2025-05-02 | White Joseph Ramsey | Tax withheld | 509 | $225.95 |
| 2025-05-02 | Armstrong Robert John Jr | Tax withheld | 96 | $255.95 |
| 2025-05-02 | Winters Nathan Andrew | Tax withheld | 717 | $255.95 |
| 2025-05-02 | GUSTAFSSON ANDERS | Option exercise | 10K | $149.57 |
| 2025-05-02 | GUSTAFSSON ANDERS | Tax withheld | 4.1K | $256.03 |
| 2025-05-01 | Winters Nathan Andrew | Option exercise | 222 | $149.57 |
| 2025-05-01 | Winters Nathan Andrew | Tax withheld | 99 | $250.64 |
| 2025-05-01 | White Joseph Ramsey | Option exercise | 338 | $149.57 |
| 2025-05-01 | White Joseph Ramsey | Tax withheld | 153 | $250.32 |
| 2025-03-16 | Armstrong Robert John Jr | Tax withheld | 103 | $278.97 |
| 2025-03-04 | Burns Bill | Grant | 14K | $306.84 |
| 2025-03-04 | Winters Nathan Andrew | Grant | 5.4K | $306.84 |
| 2025-03-04 | White Joseph Ramsey | Grant | 4.1K | $306.84 |
| 2025-03-04 | Kogl Cristen L | Grant | 3.3K | $306.84 |
| 2025-03-04 | Hudson Richard Edward | Grant | 3.5K | $306.84 |
| 2025-03-04 | Schmitz Jeffrey F | Grant | 2.9K | $306.84 |
| 2025-03-04 | Cho Michael | Grant | 2.1K | $306.84 |
| 2025-03-04 | O'Sullivan Colleen M | Grant | 750 | $306.84 |
| 2025-03-04 | Froese Tamara Dionne | Grant | 1.5K | $306.84 |
| 2025-03-04 | Armstrong Robert John Jr | Grant | 1.5K | $306.84 |
| 2025-03-01 | Burns Bill | Tax withheld | 1.5K | $315.05 |
| 2025-03-01 | White Joseph Ramsey | Tax withheld | 364 | $315.05 |
| 2025-02-25 | GUSTAFSSON ANDERS | Buy | 2.7K | $309.77 |
| 2025-02-24 | GUSTAFSSON ANDERS | Buy | 500 | $311.00 |
| 2025-02-23 | Froese Tamara Dionne | Tax withheld | 109 | $311.05 |
| 2025-02-06 | Burns Bill | Grant | 978 | — |
| 2025-02-06 | GUSTAFSSON ANDERS | Grant | 3.9K | — |
| 2025-02-05 | Froese Tamara Dionne | Grant | 89 | — |
| 2025-02-05 | Cho Michael | Grant | 391 | — |
| 2025-02-05 | Armstrong Robert John Jr | Grant | 68 | — |
| 2025-02-05 | Winters Nathan Andrew | Grant | 815 | — |
| 2025-02-05 | Schmitz Jeffrey F | Grant | 489 | — |
| 2025-02-05 | Kogl Cristen L | Grant | 652 | — |
| 2025-02-05 | O'Sullivan Colleen M | Grant | 140 | — |
| 2025-02-05 | White Joseph Ramsey | Grant | 244 | — |
| 2025-02-05 | Hudson Richard Edward | Grant | 71 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-26 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-12 | ResultsExhibits | filing ↗ |
| 2026-02-12 | ResultsOtherExhibits | filing ↗ |
| 2025-12-15 | 2.05ImpairmentExhibits | filing ↗ |
| 2025-11-24 | Exec/director changeExhibits | filing ↗ |
| 2025-11-05 | 5.03Exhibits | filing ↗ |
| 2025-10-28 | ResultsExhibits | filing ↗ |
| 2025-10-17 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-26 | 2026-05-19 | 0001628280-26-038066 ↗ |
| 10-Q | 2026-05-12 | 2026-04-04 | 0001628280-26-034109 ↗ |
| 8-K | 2026-05-12 | 2026-05-12 | 0001628280-26-033877 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0000877212-26-000003 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0001628280-26-007668 ↗ |
| 8-K | 2025-12-15 | 2025-12-09 | 0001628280-25-056882 ↗ |
| 8-K | 2025-11-24 | 2025-11-20 | 0001628280-25-053699 ↗ |
| 8-K | 2025-11-05 | 2025-10-30 | 0001628280-25-049648 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0001628280-25-046567 ↗ |
| 10-Q | 2025-10-28 | 2025-09-27 | 0001628280-25-046778 ↗ |
| 8-K | 2025-10-17 | 2025-10-15 | 0001628280-25-045297 ↗ |
| 8-K | 2025-10-01 | 2025-09-30 | 0001628280-25-043295 ↗ |