Expectations trend
FY2027 · fiscal year ending 2027-12-31 · fmp
Zebra Technologies (ZBRA)
NASDAQInformation TechnologyCommunication EquipmentSnapshot 2026-11-04
$321.64-3.25%
Close 2026-11-05 · 1-day change
NASDAQInformation TechnologyCommunication EquipmentSnapshot 2026-11-04
The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.
Next-FY EPS estimate change · 30 days
22.25 → 22.44 EPS · FY ending Dec 31, 2027 · 10 analysts
One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.
Change in the same fiscal period’s mean EPS estimate from Oct 5, 2026 to Nov 4, 2026: (new ÷ prior − 1). Contributor count changed from 10 to 10; this is not the number of analysts revising. The ±10% axis is a display range.
The EPS and P/E reference is not available for ZBRA yet.
| Measure / period | Management expectations | Analyst expectations |
|---|
Management figures unavailable.
Current consensus figures unavailable.
4 published thesis conditions, with dated milestones shown separately.
| Key Factor | Why It Matters | Current Status | Break Condition | Latest Evidence |
|---|---|---|---|---|
Complete exit of robotics automation solutions business | A supporting condition in Zebra Technologies's published investment case. The stated target is Robotics business fully disposed by end of FY26. | Intact | Robotics business not exited or causes material losses | Qualitative condition This condition has no defined numerical measure. Nov 4, 2026Last status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Compare these dated observations with the operating requirements above
FY2027 · fiscal year ending 2027-12-31 · fmp
The evidence, the remaining questions, and what comes next
No recovery evidence is reported in the available driver assessments.
Observed price history; separate from operating scenarios
The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.
ZBRA is a profitable-growth business with recent strong financial performance, rather than a turnaround. Its long-term thesis is intact, though earnings quality is neutral and recent earnings surprises have been erratic.
The valuation evidence is mixed: one measure indicates ZBRA is cheap versus peers, while another shows a sizable premium. The overall priced-in assessment is justified, with low fragility, but the negative expectations gap suggests market expectations remain a concern.
Over the multi-year view, revenue and non-GAAP earnings have grown, while first-half free cash flow increased and management raised its 2026 cash-flow guidance. Near term, guidance credibility is important: reversing a recent increase could weaken confidence, despite the currently low estimated miss risk.
The main swing factor is whether ZBRA sustains its raised guidance and continues delivering profitable growth and cash flow. Near-term support could come from lower interest rates or steadier results and guidance across technology peers, while a guidance reversal would be a clear setback.
The 1-to-3-year thesis remains intact, with strong execution and cash generation balanced against mixed valuation signals and a need to sustain guidance. Not investment advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
| It aims for $900 million free cash flow in 2026. |
| Intact |
| Free cash flow falls below $800 million in FY26 |
Free cash flow: $198M FY2026-Q2; GAAP. Published target: >=900 million USD free cash flow. Annual target cannot be compared with a quarterly or TTM observation. Aug 4, 2026198,000,000 USD · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Sustain revenue growth near 9.5% annually | A primary condition in Zebra Technologies's published investment case. The stated target is >=9.5% YoY revenue growth. | Intact | YoY revenue growth falls below 7% in FY26 | Revenue growth: 22.27% FY2026-Q3; GAAP. Published target: >=9.5% YoY revenue growth. Annual target cannot be compared with a quarterly or TTM observation. Nov 3, 202622.272727 percent · calculatedLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Increase share repurchase authorization by $1 billion | A supporting condition in Zebra Technologies's published investment case. The stated target is Maintain or increase $1 billion buyback authorization. | Intact | No further buyback authorization or buybacks halted | Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Date unavailableLast status assessment Nov 4, 2026Compare required operating outcomesCompare scope, accounting basis and period before treating this evidence as progress against an annual requirement. |
Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.
$20.59 → $22.44 · observed estimates
$6.38B → $6.69B · observed estimates
One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.
| Snapshot | EPS | Revenue | EPS / revenue analysts |
|---|---|---|---|
| 2026-07-24 | $20.59 | $6,382,563,381 | 11 / 12 |
| 2026-07-25 | $20.72 | $6,391,004,160 | 18 / 17 |
| 2026-07-26 | $20.59 | $6,382,563,381 | 11 / 12 |
| 2026-07-27 | $20.72 | $6,391,004,160 | 18 / 17 |
| 2026-07-28 | $20.59 | $6,382,563,381 | 11 / 12 |
| 2026-07-29 | $20.58 | $6,380,780,840 | 11 / 12 |
| 2026-07-30 | $20.71 | $6,389,971,980 | 17 / 16 |
| 2026-07-31 | $20.58 | $6,380,780,840 | 11 / 12 |
| 2026-08-01 | $20.58 | $6,380,780,840 | 11 / 12 |
| 2026-08-02 | $20.58 | $6,380,780,840 | 11 / 12 |
| 2026-08-03 | $20.71 | $6,389,971,980 | 17 / 16 |
| 2026-08-04 | $20.58 | $6,380,780,840 | 11 / 12 |
| 2026-08-05 | $21.22 | $6,451,668,280 | 17 / 16 |
| 2026-08-06 | $20.58 | $6,380,780,840 | 11 / 12 |
| 2026-08-08 | $22.13 | $6,555,382,310 | 17 / 16 |
| 2026-08-09 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-10 | $22.13 | $6,555,382,310 | 17 / 16 |
| 2026-08-12 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-13 | $22.12 | $6,565,375,750 | 17 / 16 |
| 2026-08-14 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-15 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-16 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-17 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-18 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-19 | $22.07 | $6,556,106,924 | 11 / 12 |
| 2026-08-20 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-08-21 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-08-22 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-08-23 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-08-24 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-08-25 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-08-26 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-08-27 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-08-28 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-08-29 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-08-30 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-08-31 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-01 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-02 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-03 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-04 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-05 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-06 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-07 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-08 | $22.20 | $6,593,852,503 | 10 / 11 |
| 2026-09-09 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-09-10 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-09-11 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-09-12 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-09-13 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-09-14 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-09-15 | $22.20 | $6,593,852,503 | 11 / 12 |
| 2026-09-16 | $22.22 | $6,600,548,850 | 11 / 11 |
| 2026-09-17 | $22.22 | $6,600,548,850 | 11 / 11 |
| 2026-09-18 | $22.22 | $6,600,548,850 | 11 / 11 |
| 2026-09-19 | $22.22 | $6,600,548,850 | 11 / 11 |
| 2026-09-20 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-21 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-22 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-23 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-24 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-25 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-26 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-27 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-28 | $22.22 | $6,600,548,850 | 10 / 11 |
| 2026-09-29 | $22.25 | $6,604,401,352 | 10 / 11 |
| 2026-09-30 | $22.25 | $6,604,401,352 | 10 / 11 |
| 2026-10-01 | $22.25 | $6,604,401,352 | 10 / 11 |
| 2026-10-02 | $22.25 | $6,604,401,352 | 10 / 11 |
| 2026-10-03 | $22.25 | $6,604,401,352 | 10 / 11 |
| 2026-10-04 | $22.25 | $6,604,401,352 | 10 / 11 |
| 2026-10-05 | $22.25 | $6,604,401,352 | 10 / 11 |
| 2026-10-06 | $22.27 | $6,609,785,967 | 10 / 11 |
| 2026-10-07 | $22.28 | $6,611,247,506 | 10 / 11 |
| 2026-10-08 | $22.28 | $6,611,247,506 | 10 / 11 |
| 2026-10-09 | $22.28 | $6,611,247,506 | 10 / 11 |
| 2026-10-10 | $22.28 | $6,611,247,506 | 10 / 11 |
| 2026-10-11 | $22.28 | $6,611,247,506 | 10 / 11 |
| 2026-10-12 | $22.28 | $6,611,247,506 | 10 / 11 |
| 2026-10-13 | $22.32 | $6,613,827,712 | 10 / 11 |
| 2026-10-14 | $22.32 | $6,613,827,712 | 10 / 11 |
| 2026-10-15 | $22.32 | $6,613,827,712 | 10 / 11 |
| 2026-10-16 | $22.33 | $6,614,343,096 | 9 / 11 |
| 2026-10-17 | $22.33 | $6,614,343,096 | 9 / 11 |
| 2026-10-18 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-19 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-20 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-21 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-22 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-23 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-24 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-25 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-26 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-27 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-28 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-29 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-30 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-10-31 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-11-01 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-11-02 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-11-03 | $22.33 | $6,614,343,096 | 10 / 11 |
| 2026-11-04 | $22.44 | $6,690,792,469 | 10 / 11 |
Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.
Latest: 10 Buy / Strong Buy · 6 Hold · 0 Sell / Strong Sell
Recent actions · Oct 6–Nov 4 · 6 recorded
1 raises · 0 cuts · 0 unchanged · 0 without a comparable prior
Oct 6, 2026–Nov 4, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.
Next earnings date unavailable
Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.
4 of 4 published conditions remain under pressure or need verification. The next results need to address those conditions.
The dated weekly assessment and its assumptions are available in Read detailed Outlook.