Question 1

What is Zebra Technologies's P/FCF ratio?

Accepted Answer

Zebra Technologies (ZBRA) P/FCF ratio is 14.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for Zebra Technologies?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For Zebra Technologies specifically, the relevant sector benchmark is the current sector median of 21.6×.

Question 5

Is Zebra Technologies's P/FCF ratio high or low?

Accepted Answer

Zebra Technologies's P/FCF ratio of 14.1× is below its own 5-year average of 47.6× and below the sector median of 21.6×. That places the current reading at the 6th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Zebra Technologies's historical P/FCF ratio range?

Accepted Answer

In the available daily series, Zebra Technologies (ZBRA) P/FCF ratio has ranged from a low of 11.6× in 2025 to a high of 382.9× in 2001. The 5-year average is 47.6× and the 5-year median is 26.2×.

Question 7

What was Zebra Technologies's P/FCF ratio in 2025?

Accepted Answer

Zebra Technologies (ZBRA) P/FCF ratio at the end of 2025 was 14.7×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does Zebra Technologies's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$12.23B	$831.00M	14.7×	-6.2×	Dec 31, 2025
2024	$19.92B	$954.00M	20.9×	—	Dec 31, 2024
2023	$14.04B	−$91.00M	—	—	Dec 31, 2023
2022	$13.24B	$413.00M	32.1×	+0.6×	Dec 31, 2022
2021	$31.81B	$1.01B	31.5×	+8.6×	Dec 31, 2021
2020	$20.51B	$895.00M	22.9×	+0.8×	Dec 31, 2020
2019	$13.79B	$624.00M	22.1×	+10.2×	Dec 31, 2019
2018	$8.56B	$721.00M	11.9×	-1.0×	Dec 31, 2018
2017	$5.52B	$428.00M	12.9×	-2.2×	Dec 31, 2017
2016	$4.44B	$295.00M	15.1×	—	Dec 31, 2016
2015	$3.47B	−$11.68M	—	—	Dec 31, 2015
2014	$3.91B	$209.03M	18.7×	+3.0×	Dec 31, 2014
2013	$2.72B	$173.06M	15.7×	+3.0×	Dec 31, 2013
2012	$2.00B	$157.39M	12.7×	-23.5×	Dec 31, 2012
2011	$1.86B	$51.47M	36.2×	+16.4×	Dec 31, 2011
2010	$2.10B	$106.24M	19.8×	-0.7×	Dec 31, 2010
2009	$1.64B	$80.38M	20.5×	+7.7×	Dec 31, 2009
2008	$1.22B	$96.01M	12.7×	-4.8×	Dec 31, 2008
2007	$2.29B	$131.25M	17.5×	-29.6×	Dec 31, 2007
2006	$2.40B	$50.96M	47.0×	+8.4×	Dec 31, 2006
2005	$3.02B	$78.30M	38.6×	-4.0×	Dec 31, 2005
2004	$4.05B	$95.01M	42.6×	+10.0×	Dec 31, 2004
2003	$3.13B	$96.11M	32.5×	—	Dec 31, 2003
2002	$1.80B	−$21.87M	—	—	Dec 31, 2002
2001	$1.71B	$4.46M	382.9×	—	Dec 31, 2001


Paycom Software (PAYC)	14.0×
Intuit (INTU)	13.9×
Okta (OKTA)	13.8×
EPAM Systems (EPAM)	13.4×
Skyworks Solutions (SWKS)	11.9×
Cognizant (CTSH)	11.8×
NetApp (NTAP)	11.5×
Duolingo (DUOL)	11.1×
Block (XYZ)	11.0×
QUALCOMM (QCOM)	10.8×
Workday (WDAY)	10.5×
Salesforce (CRM)	10.5×
Qorvo (QRVO)	10.4×
Adobe (ADBE)	10.4×
Accenture (ACN)	10.3×
Fidelity National Information Services (FIS)	8.7×
DocuSign (DOCU)	8.0×
Gen Digital (GEN)	7.5×
Fiserv (FISV)	7.2×
Hewlett Packard Enterprise (HPE)	6.8×
GoDaddy (GDDY)	6.7×
Science Applications International (SAIC)	6.7×
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HP (HPQ)	5.1×
Lyft (LYFT)	4.5×

P/FCF Ratio for Zebra Technologies (ZBRA)

P/FCF Ratio daily chart for Zebra Technologies (ZBRA)

Historical P/FCF Ratio for Zebra Technologies (ZBRA) from 2001 to 2025

About P/FCF Ratio at Zebra Technologies (ZBRA)

Zebra Technologies P/FCF Ratio by Year

Zebra Technologies P/FCF Ratio 2025: 14.7×

Zebra Technologies P/FCF Ratio 2024: 20.9×

Zebra Technologies P/FCF Ratio 2022: 32.1×

Zebra Technologies P/FCF Ratio 2021: 31.5×

Zebra Technologies P/FCF Ratio 2020: 22.9×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

Zebra Technologies (ZBRA) Key Financials

P/FCF Ratio daily chart for Zebra Technologies (ZBRA)

Historical P/FCF Ratio for Zebra Technologies (ZBRA) from 2001 to 2025

About P/FCF Ratio at Zebra Technologies (ZBRA)

Zebra Technologies P/FCF Ratio by Year

Zebra Technologies P/FCF Ratio 2025: 14.7×

Zebra Technologies P/FCF Ratio 2024: 20.9×

Zebra Technologies P/FCF Ratio 2022: 32.1×

Zebra Technologies P/FCF Ratio 2021: 31.5×

Zebra Technologies P/FCF Ratio 2020: 22.9×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

+What is Zebra Technologies's P/FCF ratio?

+How is the P/FCF ratio calculated?

+What is the P/FCF ratio?

+What is a good P/FCF ratio for Zebra Technologies?

+Is Zebra Technologies's P/FCF ratio high or low?

+What is Zebra Technologies's historical P/FCF ratio range?

+What was Zebra Technologies's P/FCF ratio in 2025?

+Why does Zebra Technologies's P/FCF ratio change over time?

Zebra Technologies (ZBRA) Key Financials