ZBRA FY 2023 Earnings Report — Zebra Technologies Corporation Revenue & Financial Results | Market Cap Arena

Zebra Technologies CorporationZBRA

FY 2023 Earnings

Reported February 15, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$4.6B	—	$5.8B	—	-20.7%
Op. Income	$481M	—	$529M	—	-9.1%
Gross Margin	46.3%	—	45.4%	—	0.9pp
Net Margin	6.5%	—	8.0%	—	-1.6pp
EPS (Diluted)	$5.72	—	$8.81	—	-35.1%
Free Cash Flow	-$91M	—	$413M	—	-122.0%

Revenue Flow

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$2.5B
GROSS PROFIT	$2.1B
R&D Expenses	$519M
Selling & Marketing	$581M
General & Administrative	$334M
SG&A Expenses	$915M
Other Expenses	$208M
Operating Expenses	$1.6B
Cost & Expenses	$4.1B
OPERATING INCOME	$481M
Interest Income	$0
Interest Expense	$133M
Other Income/Expenses	-$147M
INCOME BEFORE TAX	$334M
Income Tax Expense	$38M
Net Income from Continuing Ops	$296M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$296M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$296M
D&A	$176M
EBIT	$585M
EBITDA	$761M
EPS	$6
EPS Diluted	$6

Income Statement

Item	Amount
REVENUE	$4.6B
Cost of Revenue	$2.5B
GROSS PROFIT	$2.1B
R&D Expenses	$519M
Selling & Marketing	$581M
General & Administrative	$334M
SG&A Expenses	$915M
Other Expenses	$208M
Operating Expenses	$1.6B
Cost & Expenses	$4.1B
OPERATING INCOME	$481M
Interest Income	$0
Interest Expense	$133M
Other Income/Expenses	-$147M
INCOME BEFORE TAX	$334M
Income Tax Expense	$38M
Net Income from Continuing Ops	$296M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$296M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$296M
D&A	$176M
EBIT	$585M
EBITDA	$761M
EPS	$6
EPS Diluted	$6

Cash Flow Statement

Item	Amount
Net Income	$296M
Depreciation & Amortization	$176M
Stock-Based Compensation	$55M
Deferred Income Tax	-$36M
Other Non-Cash Items	$20M
Change in Working Capital	-$515M
OPERATING CASH FLOW	-$4M
Capital Expenditure	-$87M
Acquisitions (Net)	$0
Purchases of Investments	-$5M
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$92M
Net Debt Issuance	$195M
Common Stock Repurchased	-$52M
Common Dividends Paid	$0
Other Financing Activities	-$26M
NET CASH FROM FINANCING	$117M
FREE CASH FLOW	-$91M
Net Change in Cash	$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$137M
Short-Term Investments	$0
Net Receivables	$584M
Inventory	$804M
Other Current Assets	$146M
TOTAL CURRENT ASSETS	$1.7B
PP&E (Net)	$478M
Goodwill	$3.9B
Intangible Assets	$527M
Long-Term Investments	$162M
Tax Assets	$438M
Other Non-Current Assets	$134M
TOTAL NON-CURRENT ASSETS	$5.6B
TOTAL ASSETS	$7.3B
Account Payables	$456M
Short-Term Debt	$173M
Deferred Revenue	$458M
Other Current Liabilities	$332M
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$2.0B
Deferred Revenue NC	$312M
Deferred Tax Liabilities	$67M
Other Non-Current Liabilities	$94M
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$4.3B
Common Stock	$1M
Additional Paid-In Capital	$615M
Retained Earnings	$4.3B
Treasury Stock	-$1.9B
Accum. Other Comp. Income	-$54M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.0B
Minority Interest	$0
TOTAL EQUITY	$3.0B
TOTAL LIABILITIES & EQUITY	$7.3B
Total Debt	$2.4B
Net Debt	$2.3B