ZBRA

Nasdaq

ZEBRA TECHNOLOGIES CORP

Information Technology, Electronic Equipment & Instruments

$376.49

close 7 Aug 2026

+20.50%

52-week change

$17.81B

market cap

$199.05

$383.63

52-week range

Expected price

$304.71 – $372.43

Current price

$376.49

Signal

Could be overvalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)34.41x

P/S (TTM)3.05x

P/B5.19x

EV/EBITDA (TTM)19.09x

FCF yield (TTM)5.08%

PEG (TTM, GAAP)—

Context

P/E, own 5-year average35.69x

P/E, sector median37.34x*

Price at 5-year median P/E$335.28*

Forward — analyst consensus

Forward P/E (FY2026)18.22x*

Forward P/E (FY2027)17.01x

Forward PEG2.57*

Consensus EPS FY2026 (16 analysts)$20.67

EPS growth (FY2026→FY2027)7.08%

Revenue growth (FY2026)14.75%

Street view

Price target (mean)$392.50*

Target upside4.25%

Ratings (buy / hold / sell)12 / 5 / 0

FY2026 EPS revisions, 30d (up / down)5 / 0

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

period to 4 Jul 2026, filed 4 Aug 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR -1.47%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$376.49

Cash & equivalents$157.00M

Total debt$2.77B

Shares outstanding47.31M

Result

DCF price per share$206.45

Current price$376.49

Margin of safety-45.17%

PV of years 1–10$5.65B

PV of terminal value$6.73B

Equity value$9.77B

Market-implied growth+4.96%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$890.71M	$877.62M	$864.72M	$852.01M	$839.48M	$827.14M	$814.98M	$803.00M	$791.20M	$779.57M	$14.53B
PV	$824.73M	$752.42M	$686.44M	$626.25M	$571.34M	$521.24M	$475.53M	$433.84M	$395.80M	$361.09M	$6.73B

period to 4 Jul 2026, filed 4 Aug 2026, close 7 Aug 2026