How does Zebra Technologies (ZBRA) make money?

Zebra Technologies (ZBRA) generates revenue primarily from Enterprise Visibility Mobility, EVM, which accounted for 66.6% of total revenue in TTM through Q2 2026. The company reported $5.58B in revenue and converted 7.5% of it into net profit, equivalent to roughly $418M in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Zebra Technologies (ZBRA)?

Zebra Technologies (ZBRA) reported a gross profit margin of 47.5% in TTM through Q2 2026, equivalent to $2.65B in gross profit on $5.58B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Zebra Technologies (ZBRA)?

Zebra Technologies (ZBRA) reported an operating profit margin of 14.4% in TTM through Q2 2026, equivalent to $803M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Zebra Technologies (ZBRA)?

Zebra Technologies (ZBRA) reported a net profit margin of 7.5% in TTM through Q2 2026, equivalent to $418M in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Zebra Technologies (ZBRA) profitable?

Yes. Zebra Technologies (ZBRA) reported $418M in net income for TTM through Q2 2026, with a net profit margin of 7.5%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Zebra Technologies (ZBRA) invest in research and development?

Zebra Technologies (ZBRA) invested $607M in research and development during TTM through Q2 2026, roughly 10.9% of total revenue. R&D spending funds the company's future product pipeline and is expensed in full on the income statement rather than capitalised, which makes the operating margin sensitive to how aggressively management chooses to reinvest in innovation.

How much does Zebra Technologies (ZBRA) spend on capital expenditures?

Zebra Technologies (ZBRA) spent $79M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 1.4% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Zebra Technologies (ZBRA) generate?

Zebra Technologies (ZBRA) generated $836M in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 15.0%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Zebra Technologies (ZBRA)?

Zebra Technologies (ZBRA) had an effective tax rate of 25.6% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Zebra Technologies (ZBRA)?

Zebra Technologies (ZBRA) reports revenue across 2 reportable product segments, led by Enterprise Visibility Mobility, EVM at 66.6% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Zebra Technologies (ZBRA) generate most of its revenue?

North America is the largest geographic market for Zebra Technologies (ZBRA), accounting for 49.6% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Zebra Technologies Makes Money: 2026 Visual Revenue Map

Zebra Technologies (ZBRA) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending April 4, 2026 (reported May 12, 2026).

Zebra Technologies (ZBRA) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Zebra Technologies (ZBRA), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Enterprise Visibility Mobility, EVM	$3.72B	66.6%
Asset Intelligence Tracking, AIT	$1.87B	33.4%
Total	$5.58B	100%

Enterprise Visibility Mobility, EVM$3.72B
Asset Intelligence Tracking, AIT$1.87B
Total$5.58B

Zebra Technologies (ZBRA) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Zebra Technologies (ZBRA), TTM through Q2 2026
Region	Revenue (USD)	% of total
North America	$2.77B	49.6%
EMEA	$1.79B	32%
Asia Pacific	$655M	11.7%
Latin America	$373M	6.7%
Total	$5.58B	100%

North America
EMEA
Asia Pacific
Latin America
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Zebra Technologies (ZBRA) reports revenue across 2 reportable product segments; the largest segment was Enterprise Visibility Mobility, EVM at 66.6%, followed by Asset Intelligence Tracking, AIT (33.4%). Geographically, North America accounted for 49.6% of revenue, followed by EMEA (32%) and Asia Pacific (11.7%).

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