Last 47 quarters of trend data · Technology · Communication Equipment
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Zebra Technologies Corporation's quarterly P/E stands at 43.7x, up 42.0% year-over-year — indicating the stock has re-rated higher or earnings have softened. EV/EBITDA has compressed 33.8% YoY to 13.3x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 27.95 | 43.67 | 38.04 | 35.30 | 26.79 | 30.75 | 34.91 | 35.43 | 33.95 | 207.07 | — | 26.60 | 27.41 |
| — | +42.0% | +9.0% | -0.4% | -21.1% | -85.1% | — | +33.2% | +23.8% | +1056.4% | — | — | +1.8% | |
| P/S Ratio | 2.08 | 2.08 | 2.94 | 3.10 | 2.78 | 3.76 | 3.81 | 3.29 | 3.32 | 3.50 | 3.18 | 3.15 | 2.93 |
| — | -44.5% | -22.8% | -5.8% | -16.3% | +7.4% | +20.1% | +4.4% | +13.4% | +58.0% | +28.1% | +18.5% | -24.2% | |
| P/B Ratio | 3.26 | 3.43 | 4.14 | 4.43 | 4.01 | 5.59 | 5.59 | 4.87 | 4.93 | 4.65 | 4.03 | 5.11 | 5.69 |
| — | -38.7% | -25.9% | -9.1% | -18.6% | +20.2% | +38.8% | -4.7% | -13.5% | -4.5% | -21.6% | -17.7% | -25.2% | |
| P/FCF | 13.53 | 9.40 | 17.97 | 30.81 | 23.02 | 17.41 | 17.27 | 14.40 | 35.16 | 34.63 | — | — | — |
| — | -46.0% | +4.1% | +114.0% | -34.5% | -49.7% | — | — | — | +152.7% | — | — | — | |
| EV / EBITDA | 14.15 | 13.34 | 18.71 | 19.37 | 16.98 | 20.14 | 22.07 | 21.48 | 21.98 | 34.76 | 113.61 | 18.52 | 17.49 |
| — | -33.8% | -15.2% | -9.8% | -22.8% | -42.0% | -80.6% | +16.0% | +25.7% | +173.5% | +626.3% | — | -20.9% | |
| EV / EBIT | 17.42 | 16.88 | 15.14 | 26.86 | 21.32 | 20.14 | 28.93 | 28.23 | 27.93 | — | — | 23.57 | 21.19 |
| — | -16.2% | -47.7% | -4.9% | -23.7% | — | — | +19.8% | +31.8% | — | — | +27.2% | -21.6% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Zebra Technologies Corporation's operating margin was 15.1% in Q4 2025, up 1.2 pp QoQ and down 1.8 pp YoY. Gross margin contracted 8.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.9% | 44.6% | 48.0% | 47.6% | 49.3% | 48.6% | 48.8% | 48.4% | 47.9% | 44.4% | 44.7% | 47.9% | 47.5% |
| — | -8.2% | -1.7% | -1.6% | +2.9% | +9.4% | +9.4% | +1.1% | +0.9% | -2.6% | -2.0% | +4.2% | +6.7% | |
| Operating Margin | 14.8% | 15.1% | 13.9% | 14.2% | 14.9% | 16.9% | 15.2% | 13.7% | 13.5% | 7.3% | -1.3% | 16.0% | 16.0% |
| — | -10.8% | -8.9% | +3.1% | +10.2% | +130.0% | +1312.5% | -14.1% | -15.5% | -57.6% | -108.6% | +261.8% | +8.2% | |
| Net Margin | 7.8% | 4.7% | 7.7% | 8.7% | 10.4% | 12.2% | 10.9% | 9.3% | 9.8% | 1.7% | -1.6% | 11.9% | 10.7% |
| — | -61.2% | -29.9% | -6.7% | +6.2% | +625.2% | +795.7% | -21.7% | -8.3% | -86.4% | -112.7% | +277.7% | -25.4% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.7% | 1.9% | 2.7% | 3.1% | 3.8% | 4.7% | 4.1% | 3.5% | 3.7% | 0.6% | -0.5% | 4.9% | 5.3% |
| — | -59.0% | -32.8% | -11.7% | +1.7% | +727.7% | +917.6% | -28.5% | -30.5% | -91.9% | -107.6% | +235.4% | -23.4% | |
| ROA | 5.1% | 0.8% | 1.3% | 1.4% | 1.7% | 2.1% | 1.8% | 1.5% | 1.6% | 0.2% | -0.2% | 1.9% | 2.0% |
| — | -59.4% | -30.1% | -7.7% | +8.6% | +796.3% | +989.6% | -20.6% | -21.0% | -90.6% | -108.9% | +233.0% | -39.8% | |
| ROIC | 10.6% | 2.9% | 2.7% | 2.7% | 2.9% | 3.3% | 2.8% | 2.4% | 2.2% | 1.0% | -0.2% | 2.8% | 3.3% |
| — | -11.5% | -2.4% | +13.2% | +28.4% | +220.9% | +1752.1% | -13.7% | -32.1% | -73.4% | -105.5% | +214.6% | -17.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Zebra Technologies Corporation's Debt/EBITDA ratio is 10.0x, down from 10.5x last quarter — elevated, raising questions about debt serviceability. The current ratio has weakened 32.3% YoY to 0.97x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.78 | 0.78 | 0.63 | 0.65 | 0.65 | 0.66 | 0.69 | 0.72 | 0.72 | 0.80 | 0.82 | 0.80 | 0.85 |
| — | +19.2% | -9.1% | -8.9% | -9.5% | -17.2% | -15.1% | -10.8% | -15.0% | -7.1% | -13.1% | -19.6% | +79.0% | |
| Debt / EBITDA | 2.86 | 10.02 | 10.49 | 10.44 | 10.00 | 8.85 | 10.05 | 11.27 | 11.28 | 20.46 | 76.91 | 10.10 | 9.09 |
| — | +13.3% | +4.4% | -7.3% | -11.3% | -56.8% | -86.9% | +11.6% | +24.1% | +167.8% | +691.9% | — | +74.8% | |
| Current Ratio | 0.97 | 0.97 | 1.61 | 1.46 | 1.45 | 1.43 | 1.37 | 1.28 | 0.99 | 1.05 | 1.06 | 0.99 | 0.88 |
| — | -32.3% | +17.7% | +14.1% | +46.3% | +36.9% | +29.1% | +29.6% | +13.0% | +29.6% | +17.2% | +15.9% | +0.5% | |
| Quick Ratio | 0.58 | 0.58 | 1.19 | 1.03 | 1.02 | 1.03 | 0.96 | 0.84 | 0.56 | 0.54 | 0.51 | 0.50 | 0.47 |
| — | -43.8% | +24.8% | +23.4% | +81.5% | +88.7% | +85.8% | +66.8% | +18.4% | +23.8% | +0.9% | -9.6% | -22.5% | |
| Interest Coverage | 7.41 | 6.00 | 1.54 | 7.32 | 8.48 | 8.33 | 6.16 | 7.26 | 9.35 | 1.90 | -0.75 | 12.13 | 6.08 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Zebra Technologies Corporation's current P/E is 27.9x. The average P/E over the last 4 quarters is 36.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Zebra Technologies Corporation's current operating margin is 14.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Zebra Technologies Corporation's business trajectory between earnings reports.