NASDAQInformation TechnologyCommunication EquipmentSnapshot 2026-07-08
Reading ZBRA? This analysis is rebuilt every market day. Get it tracked free. No credit card.
Track ZBRA free→Warn: Management is running behind on a stated commitment.
Zebra Technologies grows revenue about 9.5% yearly. It aims for $900 million free cash flow in 2026. The company is buying back $1 billion in shares. Profit margins and earnings remain stable. These support durable cash flow and shareholder returns.
Growth could slow below 9%. Free cash flow may miss the $900 million target. Exiting robotics may reduce future revenue. These risks could pressure earnings and valuation.
The price is about 33% below our fair value near $397. Analysts expect about 9.5% revenue growth. Our view is more optimistic on cash flow and buybacks than the Street.
Breaks if: Robotics business not exited or causes material losses
Zebra Technologies plans to exit its robotics automation solutions business.
Standing thesis, reviewed periodically — not a price target or 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.
Breaks if: Free cash flow falls below $800 million in FY26
Zebra Technologies aims to generate a minimum of $900 million in free cash flow for the fiscal year 2026.
Stated in 3 of last 3 quarters. Free cash flow guidance remains at least $900 million for 2026. Cash from operating activities was $176 million in 2026-Q1, showing limited progress towards the annual target. Persistent statement, limited substantive delivery this quarter.
“Free Cash Flow for the full year is expected to be greater than $900 million.”
“Free cash flow is expected to be at least $900 million.”
“Free Cash Flow for the full year 2025 is expected to be greater than $800 million.”
Breaks if: YoY revenue growth falls below 7% in FY26
Breaks if: No further buyback authorization or buybacks halted
Zebra Technologies has increased its share repurchase authorization by $1 billion.
