Zebra Technologies (ZBRA) Operating Margin (2009 - 2026)
Zebra Technologies' Operating Margin was 20.62% in Q2 2026, up 6.46 percentage points from 14.15% a year earlier and up 6.24 percentage points from the prior quarter.
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Analysis
Zebra Technologies (ZBRA) Operating Margin (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Zebra Technologies' Operating Margin was 14.67% through Jul 4, 2026, down 0.62 percentage points year-over-year; for FY2025, it was 12.97%, down 1.92 percentage points from FY2024.
- Operating Margin shows a five-year change of -1.66 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 14.90% in FY2024 (+4.40 pp), 10.49% in FY2023 (+1.34 pp), 9.15% in FY2022 (-8.25 pp) and 17.40% in FY2021 (+2.76 pp).
- The Q2 2026 figure marks the highest quarterly Operating Margin in data going back to Q2 2009.
- Compared with a year earlier, Operating Margin was higher in five of the last eight quarters, with an average year-over-year change of +3.12 percentage points.
- The best year-over-year quarter for Operating Margin over five years was Q2 2023 (a gain of 25.86 percentage points); the worst was Q2 2022 (a drop of 27.81 percentage points).
- Per Business Quant data, ZBRA's Operating Margin in the three quarters before Q2 2026 was 14.38% (Q1 2026), 9.42% (Q4 2025) and 13.86% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Apple | 4,943.67 Bn | 4,691.16 Bn | 54.77 Bn | 32.62% |
| 2 | Cisco Systems | 421.20 Bn | 357.13 Bn | 11.06 Bn | 24.72% |
| 3 | Dell Technologies | 347.85 Bn | 303.60 Bn | 9.83 Bn | 11.46% |
| 4 | Arista Networks | 258.42 Bn | 211.87 Bn | 1.91 Bn | 45.39% |
| 5 | Sandisk | 250.08 Bn | 238.60 Bn | 7.58 Bn | 78.49% |
| 6 | Seagate Technology Holdings | 208.99 Bn | 203.98 Bn | 1.90 Bn | 42.96% |
| 7 | Western Digital | 163.62 Bn | 151.74 Bn | 2.03 Bn | 41.71% |
| 8 | Sony | 143.48 Bn | 93.86 Bn | 6.53 Bn | 16.79% |
| 9 | Hewlett Packard Enterprise | 83.23 Bn | 61.11 Bn | 4.93 Bn | 11.41% |
| 10 | Zebra Technologies | 17.59 Bn | 16.14 Bn | 825.00 Mn | 20.62% |
Historic Data
Download Data
Historic 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% |
API Access
Zebra Technologies Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=ZBRA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ZBRA", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=ZBRA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();