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Zebra Technologies cash flow statement

In fiscal 2025, Zebra Technologies's operations generated $917m of cash; it spent $86.0m on capital projects, leaving free cash flow of $831m. It returned $587m through buybacks.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJul 2026
Cash from operations106142781831952481223804787856859621,069488−41,013917979
Depreciation and amortisation333124263281320304263175175146187204176172185214
Stock-based pay11121415132031273545485176885589163174
Capital spending2531272220391227750646167597587598675
Free cash flow811115116117520903034287216248951,010413−91954831904
Free cash flow after stock pay699937146162189−31276393676576844934325−146865668730
Share buybacks65102160546300—0047200577515247587905

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Zebra Technologies's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Zebra Technologies.