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ZBRA$249.35+2.35%
Fair $520.28+108.7%

ZBRA

Zebra Technologies Corporation

Technology / Communication EquipmentNasdaqGS

$249.35

+5.72 (+2.35%)

Significantly Undervalued+108.7%Fair Value $520.28Fund rank 71/100 · Buy candidateSEC 18/18 yrs|
SA 44/C
F-Score: 4/9

FCF base 3Y

$263.34

+1.8% CAGR · yield 8.1%

FCF base 5Y

$299.86

+3.8% base · +14.2% expected

Precio de entrada

$126.76

MOS 26% · confianza 56%

FCF escenarios

modelled · normalized FCF $831.0M · quality 63.7/100

Buy candidate 71/100
Bear 5Y$136.81-11.3%
Base 5Y$299.86+3.8%
Bull 5Y$1204.57+37.0%
Return 95/100Downside 46/100Model quality 53/100Data QA 68/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

44/100

C

Piotroski

4/9

balance/quality

Valuation

100/100

+108.7% upside

5Y CAGR

+14.2%

100/100

Data QA

100/100

SEC 100%

Latest source: sec-companyfactsPeriods: 18Warnings: 0sec-companyfacts: 18
Thesis & Journal · ZBRALocal privado en este navegador · Zebra Technologies Corporation
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$11.9B

P/E

29.8x

↑

EV/EBITDA

18.0x

↑

ROE

11.7%

↑

Gross Margin

48.1%

↑

Debt/Equity

0.70

↑
52-Week Range$249
$199$353
EV/EBITDA Historical18.0x

TradingView lightweight chart

ZBRA price, volumen y niveles de valoración

Último $249.35Periodo +896.3%
Buy zone: $126.76Bear 5Y: $136.81Fair value: $520.28Base 5Y: $299.86Bull 5Y: $1,205

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2008–2025 · 17 años de histórico normalizado

Revenue CAGR

+10.6%

FCF CAGR

+13.4%

FCF margin

15.4%

FCF / Net income

1.98x

Latest source

SEC-backed

Margin decomposition

Último año: revenue $5.40B · net income $419.0M · FCF $831.0M

2008-FY → 2025-FY

Gross margin

48.1%-1.0% pts

Operating margin

13.0%+14.5% pts

Net margin

7.8%+11.7% pts

FCF margin

15.4%+5.4% pts
SEC-backed annual metrics active for 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009, 2008. Local SEC Companyfacts override Yahoo/FMP for audited annual line items; provider-only fields remain as fallback.
MetricTTM
2025SEC
2024SEC
2023SEC
2022SEC
2021SEC
2020SEC
2019SEC
2018SEC
2017SEC
2016SEC
2015SEC
2014SEC
2013SEC
2012SEC
2011SEC
2010SEC
2009SEC
2008SEC
Income Statement
Revenue$5.40B$5.40B$4.98B$4.58B$5.78B$5.63B$4.45B$4.49B$4.22B$3.72B$3.57B$3.65B$1.67B$1.04B$996.2M$983.5M$894.4M$738.5M$976.7M
Net Income$419.0M$419.0M$528.0M$296.0M$463.0M$837.0M$504.0M$544.0M$421.0M$17.0M$-137.0M$-158.0M$32.0M$134.0M$122.9M$174.6M$101.8M$47.1M$-38.4M
EBITDA$853.0M$853.0M$905.0M$643.0M$1.14B$1.17B$797.0M$867.0M$785.0M$585.0M$384.0M$357.0M$170.0M$192.0M$190.5M$206.0M$179.4M$103.2M$23.2M
EPS8.188.1810.185.728.8015.529.359.977.760.32-2.65-3.100.632.632.373.221.770.79-0.60
Gross Margin48.1%48.1%48.4%46.3%45.4%46.7%45.0%46.8%47.0%45.9%45.9%45.0%46.6%48.5%49.4%49.5%47.0%43.0%49.1%
Operating Margin13.0%13.0%14.9%10.5%9.2%17.4%14.6%15.4%14.5%8.7%2.2%1.0%5.3%15.4%16.5%18.5%16.6%9.5%-1.6%
Net Margin7.8%7.8%10.6%6.5%8.0%14.9%11.3%12.1%10.0%0.5%-3.8%-4.3%1.9%12.9%12.3%17.8%11.4%6.4%-3.9%
Balance Sheet
Debt/Equity0.700.700.610.730.740.330.580.691.192.673.343.373.040.00—————
Current Ratio0.960.96—————————————————
Cash Flow
Free Cash Flow$831.0M$831.0M$954.0M$-91.0M$413.0M$1.01B$895.0M$624.0M$721.0M$428.0M$303.0M$0.00—$174.8M$160.9M$51.4M$111.1M$80.8M$97.4M
Returns
ROE11.7%11.7%14.7%9.7%16.9%28.0%23.5%29.6%31.5%2.0%-17.3%-17.7%3.1%14.0%14.3%22.5%13.9%6.6%-5.4%
Valuation
P/E29.7829.7823.9342.5927.6915.7026.0624.4431.40761.34——386.7192.63102.8075.66137.64308.39—
EV/EBITDA17.9917.9924.0823.8614.44——————————————
P/B3.483.483.524.154.694.406.137.239.9115.6815.8713.9112.0412.9714.7416.9919.1720.3322.12
Growth & Yield
Revenue Growth8.3%8.3%8.7%-20.7%2.7%26.5%-0.8%6.3%13.3%4.1%-2.1%118.4%61.0%4.2%1.3%10.0%21.1%-24.4%—
EPS Growth-19.6%-19.6%78.0%-35.0%-43.3%66.0%-6.2%28.5%2325.0%112.1%14.5%-592.1%-76.0%11.0%-26.4%81.9%124.1%231.7%—

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growth
terminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

39.3%

muy exigente

EPS terminal req.

$22.13

Spread vs growth

-59.0%

5Y implied EPS CAGR

26.8%

muy exigente

EPS terminal req.

$26.77

Spread vs growth

-46.4%

10Y implied EPS CAGR

18.1%

exigente

EPS terminal req.

$43.12

Spread vs growth

-37.7%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total -13.9%

Total return

-13.9%

Start / end P/E

28.5x → 30.5x

EPS bridge

10.18 → 8.18

Residual

-1.4%

EPS growth-19.6%
Multiple rerating+7.1%
Dividend+0.0%
Residual / FX / buybacks / cross-term-1.4%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.

14.4x24.1x
EV/EBITDA vs Sector18.0x
6.5xmed 13.0x27.0x