Zebra Technologies Corporation (ZBRA) Fair Value & Analysis
Technology · US · Market cap $12.7B
Zebra Technologies Corporation
ZBRA · US
Fair value as of: Jul 18, 2026
From 24 valuation models · updated 20 days ago
Share price +37.6% over the past month.
A solid business, but screening 52% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($219.91). The favourable scenario is already priced in.
- Solid but not exceptional quality (61/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($121.66 to $219.91) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.
How to read this chart
60‑month range $197.99 – $614.55 · fair‑value band $121.66 – $219.91 · the $364.24 price screens above the $175.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.
Analysis
Zebra Technologies Corporation (ZBRA) currently trades at $364.24, while our model-based Fair Value estimate is $175.93, implying the stock looks roughly 51.7% overvalued today. We read business quality at 61/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Zebra Technologies Corporation generated revenue of $5.6B at a net margin of 7.5%. Revenue grew 14.3% year over year. It earns a return on equity of 11.8%. Net debt stands at $2.7B. Fundamentals as of Jul 18, 2026
Our scenario range runs from $121.66 (bear case) to $219.91 (bull case); at $364.24, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 83% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -52%, ZBRA screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 24 models by family
Widest divergence: DCF Models ($244.75) versus Asset-Based ($50.47). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 54
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Zebra Technologies Corporation, together with its subsidiaries, operates in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Connected Frontline, and Asset Visibility and Automation.
Full company description
Zebra Technologies Corporation, together with its subsidiaries, operates in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Connected Frontline, and Asset Visibility and Automation. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and electronic sensors and temperature-monitoring labels. It also provides various maintenance, technical support, repair, and managed and professional services; fixed readers, RFID enabled mobile computers, and RFID sleds; tags, sensors, exciters, middleware software, and application software; and physical inventory management solutions; rugged and enterprise-grade mobile computing products and accessories, as well as real-time location systems and services. In addition, the company offers barcode scanners and imagers, RFID readers, industrial machine vision cameras, and fixed industrial scanners; point-of-sale solutions, self-serve kiosks, and interactive touchscreen displays; workflow optimization solutions, such as workforce management, workflow execution and task management, and prescriptive analytics, and communications and collaboration solutions; and cloud-based software. The company serves retail and e-commerce, manufacturing, transportation and logistics, healthcare, public sector, and other industries through direct sales force and network of channel partners. The company was founded in 1969 and is headquartered in Lincolnshire, Illinois.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Zebra Technologies Corporation reported revenue of $5.4B in FY2025 versus $5.6B in FY2021, a compound −1.0%/yr. Reported net income was $419M in FY2025, compounding −15.9%/yr from FY2021.
ZBRA screens 52% overvalued. Compare with Cisco Systems, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- ZBRA Q2 Earnings Beat Estimates on Sales Growth, Outlook Raised
- Zebra Technologies Stock Jumped 20% Today on the Best Problem in Tech
- Rockwell and Zebra Earnings Are Both Strong but Only One Automation Stock Is Up 20%
- Zebra Technologies (ZBRA) Beats Q2 Earnings and Revenue Estimates
Peer Group
Communication Equipment · 284 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Communication Equipment median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 44/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Cisco Systems, Inc CSCO | $119.25 | $43.05 | -64% |
| Zhongji Innolight Co 300308 | ¥1,094 | ¥171.09 | -84% |
| Foxconn Industrial Internet Co 601138 | ¥56.50 | ¥28.65 | -49% |
| Eoptolink Technology Inc 300502 | ¥482.88 | ¥155.05 | -68% |
| Nokia Oyj NOK | $11.25 | $2.67 | -76% |
| Motorola Solutions, Inc MSI | $413.31 | $190.43 | -54% |
| Suzhou TFC Optical Communication Co 300394 | ¥244.13 | ¥32.04 | -87% |
| Telefonaktiebolaget LM Ericsson (publ), ERIC | $11.72 | $15.96 | +36% |
| Accton Technology Corporation 2345 | 2,090 TWD | 846.28 TWD | -60% |
| ZTE Corporation 000063 | ¥40.00 | ¥15.75 | -61% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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