TICKDELTA
Sign in
Screener / SEC EDGAR /CIK 0000877212 /10-K filed Feb 12, 2026, compared with Feb 13, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
CIENTWLOCDNSITONZBRA
Nasdaq Technology · Industrial Machinery

Zebra Technologies ZBRA

ZBRA quote by TradingView

We are a global leader in the Automatic Identification and Data Capture (“AIDC”) industry. 10-K, Item 1

Employees
10,700
Headquarters
Lincolnshire, IL
CEO
Bill Burns
Next results
around Feb 11, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $5.4B through the costs to a net profit of $419.0M · income statement of the 10-K

13% operating margin
Revenue to Gross profit: $2.6BRevenue to Cost of revenue: $2.8BGross profit to Operating profit: $700.0MGross profit to Operating expenses: $1.9BOperating profit to Net profit: $419.0MOperating profit to Tax & other: $281.0MOperating expenses to R&D: $593.0MOperating expenses to Sales, admin & other: $1.3B Revenue: $5.4B REVENUE $5.4B +8% Y/Y Gross profit: $2.6B · 48% margin GROSS PROFIT $2.6B 48% margin · +7% Y/Y Cost of revenue: $2.8B · 52% of revenue COST OF REVENUE $2.8B 52% of revenue Operating profit: $700.0M · 13% margin OPERATING PROFIT $700.0M 13% margin · −6% Y/Y Operating expenses: $1.9B · 35% of revenue OPERATING EXPENSES $1.9B 35% of revenue Net profit: $419.0M · 8% margin NET PROFIT $419.0M 8% margin · −21% Y/Y Tax & other: $281.0M · 5% of revenue TAX & OTHER $281.0M 5% of revenue R&D: $593.0M · 11% of revenue R&D $593.0M 11% of revenue Sales, admin & other: $1.3B · 24% of revenue SALES, ADMIN & OTHER $1.3B 24% of revenue
Gross profit $2.6B 48% margin · +7% Y/Y
Operating profit $700.0M 13% margin · −6% Y/Y
Net profit $419.0M 8% margin · −21% Y/Y
The full income statement, year by year

ZBRA among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 74 peers the company is above, not a score.

Compare
Revenue growth: 8.3%, above 30% of 74 peers (their median 14.1%) REVENUE GROWTH 8.3% · above 30% Gross margin: 48.9%, above 31% of 67 peers (their median 58.0%) GROSS MARGIN 48.9% · above 31% Operating margin: 14.9%, above 29% of 70 peers (their median 23.8%) OPERATING MARGIN 14.9% · above 29% Net margin: 9.8%, above 23% of 74 peers (their median 19.2%) NET MARGIN 9.8% · above 23% FCF margin: 16.1%, above 30% of 70 peers (their median 23.7%) FCF MARGIN 16.1% · above 30% Return on capital: 8.5%, above 38% of 61 peers (their median 12.7%) RETURN ON CAPITAL 8.5% · above 38%
ZBRA Peer median Below the median

What changed

4 new risk paragraphs and 2 accounting facts worth reading about. 10-K filed Feb 12, 2026 against Feb 13, 2025.

Risk factors
4 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Critical audit matters changed
New this year: Acquisition of Elo Holdings, Inc. - Valuation of Developed Technology and Customer Relationships (“As discussed in Note 5 to the consolidated financial statements, on September 30, 2025, the Company completed the acquisition of Elo Holdings, Inc. (“Elo”) for total consideration of $1,303 million. The acquisition was accounted for as a business combination, which requires, among other things, the ”); Accounting for Uncertain Tax Positions (“As discussed in Note 16 of the financial statements, the Company earns a significant amount of its operating income across multiple jurisdictions. As the Company operates in a multinational tax environment and incurs income tax obligations in a number of jurisdictions, complexities and uncertainties”). No longer listed: Accounting for Income Taxes. Same as last year: Audit; Audit
10-K · XBRL
Material impairment (8-K item 2.06)
8-K item 2.06 (material impairments) filed Dec 15, 2025: “and are incorporated by reference herein. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ZEBRA TECHNOLOGIES CORPORATION Date: December 15, 2025 By: /s/ Cristen Kogl Cristen Kogl Chief Legal Officer, General Counsel & Corporate Secretary”
10-K · XBRL
Accounting checks
9 other checks clear, 2 worth a look
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
2 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

2facts worth reading about the other 9 checks found nothing to note

  • Critical audit matters changed
    New this year: Acquisition of Elo Holdings, Inc. - Valuation of Developed Technology and Customer Relationships (“As discussed in Note 5 to the consolidated financial statements, on September 30, 2025, the Company completed the acquisition of Elo Holdings, Inc. (“Elo”) for total consideration of $1,303 million. The acquisition was accounted for as a business combination, which requires, among other things, the ”); Accounting for Uncertain Tax Positions (“As discussed in Note 16 of the financial statements, the Company earns a significant amount of its operating income across multiple jurisdictions. As the Company operates in a multinational tax environment and incurs income tax obligations in a number of jurisdictions, complexities and uncertainties”). No longer listed: Accounting for Income Taxes. Same as last year: Audit; Audit
  • Material impairment (8-K item 2.06)
    8-K item 2.06 (material impairments) filed Dec 15, 2025: “and are incorporated by reference herein. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ZEBRA TECHNOLOGIES CORPORATION Date: December 15, 2025 By: /s/ Cristen Kogl Cristen Kogl Chief Legal Officer, General Counsel & Corporate Secretary”
  • Receivables +15.8% vs revenue +8.3% (+7.4 pts)
8 more checks with nothing to note
  • Cash from operations $917.0M vs net income $419.0M (FY ending Dec 31, 2025)
  • Inventory +5.2% vs revenue +8.3% (-3.1 pts)
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 1.03 in the last 2 years

In their words

4 paragraphs in Risk Factors that were not in the 10-K filed Feb 13, 2025. Quoted as filed.

All 4 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 13, 2025 10-K, ITEM 1A
    On September 30, 2025, the Company acquired Elo Holdings, Inc. (“Elo”) for a purchase price of approximately $1.3 billion, a transaction that is significant in size, representing approximately 9% of the Company’s market capitalization on such date. This acquisition substantially increased the Company’s goodwill and other intangible…

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$5.8B$4.6B$5.0B$5.4B
Net income$463.0M$296.0M$528.0M$419.0M
Operating cash flow$488.0M−$4.0M$1.0B$917.0M
Free cash flow$413.0M−$91.0M$954.0M$831.0M

Revenue, FY2016 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$5.4B ▲ 8.3% in FY2025

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

2 filings in the last 30 days · SEC EDGAR

All filings

About the company

Zebra Technologies, Lincolnshire, IL · from the 10-K filed Feb 12, 2026

We are a global leader in the Automatic Identification and Data Capture (“AIDC”) industry. The AIDC market consists of mobile computing, data capture, radio frequency identification devices (“RFID”), thermal barcode printing, and other workflow automation products and services. The Company’s products, services, and software solutions (“offerings”) are proven to help our customers and end-users digitize and automate their workflows to achieve their critical business objectives, including improved productivity and operational efficiency, optimized regulatory compliance, and better customer experiences.

Headquarters
Lincolnshire, IL
Country
United States
Reports in
USD
Listed on
Nasdaq
Fiscal year ends
December 31
Last results
Nov 3, 2026

Employees, at the top of the page: "As of December 31, 2025, the Company had approximately 10,700 employees globally, with a majority in sales and technical roles" (10-K). Address and exchange: SEC's company file.

Email alerts

Sources

The 10-K filed Feb 12, 2026 (open at SEC), compared with the 10-K filed Feb 13, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/ZBRA/export.csv") into a cell.