Zebra (ZBRA) Stock Analysis

November 11, 2026

This is a peer-relative look at Zebra (ZBRA): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Technology Hardware & Equipment peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Zebra (ZBRA)
Profile Item	ZBRA
Name	Zebra Technologies Corp. Class A Common Stock
Country/Region	United States
GICS Sector	Information Technology
GICS Industry Group	Technology Hardware & Equipment
GICS Industry	Electronic Equipment, Instruments & Components
GICS Sub-Industry	Electronic Equipment & Instruments
Market Capitalization	15.16 billion USD
Currency	USD
Exchange	Nasdaq
Listing Date	August 15, 1991
Security Type	Common Stock

Price Performance

Cumulative Growth

ZBRA

GSPC

Zebra (ZBRA) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Zebra (ZBRA) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Zebra (ZBRA) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
Total Return (1Y)	26.64%	19.81%
Total Return (3Y, Annualized)	17.52%	26.50%
Total Return (5Y, Annualized)	-11.21%	9.52%

Risk Profile

Drawdown History

ZBRA

GSPC

Zebra (ZBRA) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Zebra (ZBRA) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
Volatility (1Y, Annualized)	47.91%	55.75%
Beta (5Y)	1.64	1.39
Max Drawdown (5Y)	-67.78%	-58.83%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. ZBRA is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
Sharpe Ratio (1Y)	0.47	0.28
Sortino Ratio (1Y)	0.82	0.40

Profitability

ROE (TTM)

Zebra (ZBRA) posts ROE of 16.46%, roughly around the peer group’s normal range. Shareholders’ equity is producing a return that looks broadly typical for the industry.

ZBRA

Technology Hardware & Equipment industry group

16.46%

Group distribution

Max: 42.47%
Q3: 19.13%
ZBRA: 16.46%
Median: 11.00%
Q1: 1.63%
Min: -20.62%

Largest peers

AAPL: 142.26%
SNDK: 141.17%
APH: 40.08%
ANET: 33.52%
CSCO: 27.32%
ZBRA: 16.46%
DELL: --

Where Zebra (ZBRA) stands on ROE within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Zebra (ZBRA) keeps 9.80% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

ZBRA

Technology Hardware & Equipment industry group

9.80%

Group distribution

Max: 27.60%
Q3: 11.66%
ZBRA: 9.80%
Median: 4.08%
Q1: 0.00%
Min: -11.02%

Largest peers

SNDK: 67.04%
ANET: 39.97%
AAPL: 27.60%
CSCO: 20.95%
APH: 17.95%
ZBRA: 9.80%
DELL: 7.53%

Where Zebra (ZBRA) stands on net margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Zebra (ZBRA) turns 14.75% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

ZBRA

Technology Hardware & Equipment industry group

14.75%

Group distribution

Max: 36.27%
Q3: 18.36%
ZBRA: 14.75%
Median: 8.84%
Q1: 1.46%
Min: -21.39%

Largest peers

SNDK: 79.59%
ANET: 44.90%
AAPL: 31.13%
APH: 29.68%
CSCO: 27.72%
ZBRA: 14.75%
DELL: 12.02%

Where Zebra (ZBRA) stands on operating margin within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
ROE (TTM)	16.46%	11.00%
ROA (TTM)	7.51%	4.78%
Net Margin (TTM)	9.80%	4.08%
Operating Margin (TTM)	14.75%	8.84%
Gross Margin (TTM)	48.90%	39.87%

Growth

Revenue Growth

Zebra (ZBRA) grew revenue 8.33%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Zebra (ZBRA): Revenue Growth across different time periods, set against Technology Hardware & Equipment industry-group medians.

EPS Growth

Zebra (ZBRA) grew earnings per share -19.65%, roughly around the peer group's normal range. Bottom-line momentum looks broadly typical for the industry.

Zebra (ZBRA): EPS Growth across different time periods, set against Technology Hardware & Equipment industry-group medians.

Growth Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
Revenue Growth (YoY)	8.33%	10.87%
Revenue Growth (3Y CAGR)	-2.27%	2.79%
EPS Growth (YoY)	-19.65%	14.29%
EPS Growth (3Y CAGR)	-2.41%	3.49%

Financial Strength

Current Ratio (MRQ)

Zebra (ZBRA) has current ratio of 0.57, in the tighter-liquidity quartile for its industry. The short-term cushion is thinner than most peers carry, even if the absolute comfort level still depends on the business model.

ZBRA

Technology Hardware & Equipment industry group

0.57

Group distribution

Max: 5.34
Q3: 3.02
Median: 1.95
Q1: 1.32
ZBRA: 0.57
Min: 0.17

Largest peers

ANET: 3.29
SNDK: 2.58
APH: 1.94
AAPL: 1.02
DELL: 0.96
CSCO: 0.93
ZBRA: 0.57

Where Zebra (ZBRA) stands on current ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Zebra (ZBRA) has debt-to-equity ratio of 0.78, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

ZBRA

Technology Hardware & Equipment industry group

0.78

Group distribution

Max: 1.76
ZBRA: 0.78
Q3: 0.78
Median: 0.24
Q1: 0.04
Min: 0.01

Largest peers

APH: 1.03
AAPL: 0.84
ZBRA: 0.78
CSCO: 0.62
SNDK: 0.01
ANET: --
DELL: --

Where Zebra (ZBRA) stands on debt-to-equity ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
Current Ratio (MRQ)	0.57	1.95
Debt / Equity (MRQ)	0.78	0.24
Net Debt / EBITDA	2.09	0.16

Dividends

Dividend Yield (TTM)

Zebra (ZBRA) pays no dividend, leaving dividend yield at 0.00% this period. Shareholders may still receive value through reinvestment or buybacks, but there is no dividend income to compare here.

ZBRA

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 0.73%
Q3: 0.31%
ZBRA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 1.73%
DELL: 0.73%
APH: 0.70%
AAPL: 0.31%
ZBRA: 0.00%
ANET: 0.00%
SNDK: 0.00%

Where Zebra (ZBRA) stands on dividend yield within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Zebra (ZBRA) paid no earnings out as dividends this period, leaving payout ratio at 0.00%. There is no dividend payout to size against earnings.

ZBRA

Technology Hardware & Equipment industry group

0.00%

Group distribution

Max: 32.27%
Q3: 14.48%
ZBRA: 0.00%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

Largest peers

CSCO: 49.85%
APH: 21.74%
DELL: 13.43%
AAPL: 11.80%
ZBRA: 0.00%
ANET: 0.00%
SNDK: 0.00%

Where Zebra (ZBRA) stands on payout ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
Dividend Yield (TTM)	0.00%	0.00%
Dividend Payout Ratio (TTM)	0.00%	0.00%

Valuation

P/E Ratio (TTM)

Zebra (ZBRA) trades at P/E ratio of 26.03, near the industry’s usual earnings multiple. The stock is not showing a clear peer discount or premium on trailing earnings.

ZBRA

Technology Hardware & Equipment industry group

26.03

Group distribution

Max: 69.48
Q3: 41.02
Median: 26.39
ZBRA: 26.03
Q1: 19.36
Min: 6.07

Largest peers

ANET: 45.79
AAPL: 38.13
APH: 32.43
CSCO: 28.18
ZBRA: 26.03
DELL: 19.10
SNDK: 6.67

Where Zebra (ZBRA) stands on P/E ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Zebra (ZBRA) trades at 2.47 on P/S ratio, roughly in the peer group’s normal range. The market is not making a strong cheap-or-rich statement about its revenue base.

ZBRA

Technology Hardware & Equipment industry group

2.47

Group distribution

Max: 11.30
Q3: 5.82
Median: 2.56
ZBRA: 2.47
Q1: 1.05
Min: 0.00

Largest peers

ANET: 18.15
AAPL: 10.39
CSCO: 5.84
APH: 5.57
SNDK: 4.10
ZBRA: 2.47
DELL: 1.38

Where Zebra (ZBRA) stands on P/S ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Zebra (ZBRA) trades at 4.26 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

ZBRA

Technology Hardware & Equipment industry group

4.26

Group distribution

Max: 10.75
Q3: 5.52
ZBRA: 4.26
Median: 3.17
Q1: 1.79
Min: 0.33

Largest peers

AAPL: 44.39
ANET: 13.12
APH: 10.75
CSCO: 7.36
SNDK: 6.63
ZBRA: 4.26
DELL: -147.32

Where Zebra (ZBRA) stands on P/B ratio within its Technology Hardware & Equipment peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Zebra (ZBRA) metric values compared with Technology Hardware & Equipment industry-group medians
Metric	Current stock: ZBRA	Industry group median
P/E Ratio (TTM)	26.03	26.39
P/S Ratio (TTM)	2.47	2.56
P/B Ratio (MRQ)	4.26	3.17
Free Cash Flow Yield (TTM)	4.61%	2.83%