Zebra Technologies income statement

In fiscal 2025, Zebra Technologies reported revenue of $5.40bn, up 8.3% on the year before, operating income of $700m (a 13.0% margin) and net income of $419m, or $8.18 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Zebra Technologies: income statement, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJul 2026
Revenue	738	894	983	996	1,038	1,671	3,650	3,574	3,722	4,218	4,485	4,448	5,627	5,781	4,584	4,981	5,396	5,847
Cost of revenue	421	474	497	505	535	893	2,006	1,932	2,012	2,237	2,385	2,445	2,999	3,157	2,461	2,568	2,803	2,948
Gross profit	318	421	487	492	503	778	1,644	1,642	1,710	1,981	2,100	2,003	2,628	2,624	2,123	2,413	2,593	2,899
Research and development	66	83	90	87	91	151	394	376	389	444	447	453	567	570	519	563	593	622
Selling and marketing	92	112	128	130	138	213	494	444	448	483	503	483	587	607	581	600	653	707
General and administrative	76	73	81	92	96	138	283	307	301	328	323	304	348	375	334	381	433	461
Operating income	70	148	182	164	160	89	37	80	322	610	692	651	979	529	481	742	700	858
Interest expense	—	—	—	0	0	62	193	193	227	91	89	76	5	—	—	—	—	—
Net interest income	—	—	—	—	—	−62	−194	—	—	—	—	—	—	—	—	—	—	—
Income before tax	72	150	180	164	164	17	−180	−129	88	524	598	560	968	544	334	635	560	709
Income tax	24	45	49	42	30	−15	−22	8	71	103	54	56	131	81	38	107	141	170
Net income	47	102	175	123	134	32	−158	−137	17	421	544	504	837	463	296	528	419	539
Diluted EPS	$0.79	$1.77	$3.22	$2.37	$2.63	$0.63	−$3.10	−$2.65	$0.32	$7.76	$9.97	$9.35	$15.52	$8.80	$5.72	$10.18	$8.18	$10.82
Diluted shares (average)	59m	57m	54m	52m	51m	51m	51m	52m	54m	54m	55m	54m	54m	53m	52m	52m	51m	50m
EBITDA	103	179	206	191	192	170	357	384	585	785	867	797	1,166	733	657	914	885	1,072

US$ millions unless shown otherwise. Fiscal quarters.

Zebra Technologies: income statement, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Apr 2026	2026 Q2Jul 2026
Revenue	1,255	1,334	1,308	1,293	1,320	1,475	1,495	1,557
Cost of revenue	642	686	663	677	686	777	753	732
Gross profit	613	648	645	616	634	698	742	825
Research and development	141	138	151	144	146	152	165	159
Selling and marketing	151	151	161	158	159	175	189	184
General and administrative	96	107	111	102	111	109	127	114
Operating income	191	225	195	183	183	139	215	321
Income before tax	149	208	165	138	159	98	167	285
Income tax	12	45	29	26	58	28	32	52
Net income	137	163	136	112	101	70	135	233
Diluted EPS	$2.64	$3.14	$2.62	$2.19	$1.97	$1.40	$2.72	$4.85
EBITDA	236	267	236	226	225	198	271	378

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

Compare with peers

Head to head: TDY vs ZBRA KEYS vs ZBRA ROP vs ZBRA

More: Electronic Equipment & Instruments stocks compared, Technology sector, rankings of US companies

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.