Zebra Technologies (ZBRA) Operating Margin (2009 - 2026)
Zebra Technologies' (ZBRA) quarterly Operating Margin came in at 14.38% in Q2 2026, down 53.0% YoY from 30.6% in Q2 2025, and up 52.61% on a QoQ basis from 9.42% in Q4 2025.
Zebra Technologies (ZBRA) Operating Margin (2009 - 2026) Analysis & Trends
Zebra Technologies (ZBRA) has 18 years of Operating Margin data on file, last reported at 14.38% in Q2 2026.
- Quarterly Operating Margin fell 53.0% year-over-year to 14.38% in Q2 2026, while the trailing twelve-month figure through Apr 2026 was 12.9% (down 232.0% YoY) and the FY2025 annual result came in at 12.97%, down 192.0% from the prior year.
- Operating Margin grew to 14.38% in Q2 2026, from 9.42% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 17.3% in Q4 2022 to a low of 9.88% in Q3 2022.
- A 5-year average of 11.83% and a median of 14.38% in 2026 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin slumped 2781 bps — and 2023, when it surged 2586 bps.
- Tracing ZBRA's Operating Margin over 5 years: stood at 17.3% in 2022, then plunged by 58 bps to 7.33% in 2023, then surged by 130 bps to 16.87% in 2024, then sank by 44 bps to 9.42% in 2025, then jumped by 53 bps to 14.38% in 2026.
- The last three Operating Margin figures came in at 14.38% (Q2 2026), 9.42% (Q4 2025), and 13.86% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Cisco Systems | 440.02 Bn | 423.38 Bn | 10.08 Bn | 25.00% |
| 2 | Hewlett Packard Enterprise | 77.69 Bn | 72.40 Bn | 3.94 Bn | 7.00% |
| 3 | Motorola Solutions | 77.25 Bn | 76.56 Bn | 1.68 Bn | 25.82% |
| 4 | Lumentum Holdings | 66.40 Bn | 63.23 Bn | 357.00 Mn | 21.59% |
| 5 | Nokia | 61.84 Bn | 54.37 Bn | 10.09 Bn | -2,316.67% |
| 6 | Ciena | 60.71 Bn | 59.51 Bn | 691.55 Mn | 15.14% |
| 7 | Ubiquiti | 34.65 Bn | 34.28 Bn | 370.71 Mn | 36.90% |
| 8 | Ericsson Lm Telephone | 34.62 Bn | 28.92 Bn | 2.58 Bn | 11.23% |
| 9 | AST SpaceMobile | 27.62 Bn | 28.12 Bn | 9.12 Mn | -1,015.16% |
| 10 | Zebra Technologies | 17.79 Bn | 17.63 Bn | 825.00 Mn | 20.62% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jul 4, 2026 | 20.62% |
| Apr 4, 2026 | 14.38% |
| Dec 31, 2025 | 9.42% |
| Sep 27, 2025 | 13.86% |
| Jun 28, 2025 | 14.15% |
| Mar 29, 2025 | 14.91% |
| Dec 31, 2024 | 16.87% |
| Sep 28, 2024 | 15.22% |
| Jun 29, 2024 | 13.72% |
| Mar 30, 2024 | 13.53% |
| Dec 31, 2023 | 7.33% |
| Sep 30, 2023 | -1.26% |
| Jul 1, 2023 | 15.98% |
| Apr 1, 2023 | 16.01% |
| Dec 31, 2022 | 17.30% |
| Oct 1, 2022 | 14.66% |
| Jul 2, 2022 | -9.88% |
| Apr 2, 2022 | 14.80% |
| Dec 31, 2021 | 15.20% |
| Oct 2, 2021 | 16.50% |