Zebra Technologies Corporation

Zebra Technologies IPO

Zebra Technologies first went public on December 7, 1991.

It was listed on the NASDAQ exchange under the ticker symbol ZBRA.

Over the years, the company has seen substantial growth and has made numerous acquisitions to expand its portfolio of offerings.

Zebra Technologies IPO Prospectus

A prospectus is a formal document required by and filed with the Securities and Exchange Commission (SEC) that provides details about an investment offering to the public.

You can find Zebra Technologies’ Prospectus here.

Company Overview & History

Zebra Technologies Corporation, founded in 1969, is an American company that manufactures and sells marking, tracking and computer printing technologies.

They are renowned for their barcode, RFID, and enterprise location solutions that generate actionable information and insight, giving companies unparalleled visibility into their businesses by giving physical things a digital voice.

Zebra’s solutions are used in more than 100 countries worldwide.

In its early years, Zebra was a manufacturer of high-speed electromechanical products.

However, over time, the company evolved to focus on technology solutions, particularly in the realm of barcode printing.

In the decades since its founding, Zebra has remained a leader in its field, constantly innovating and expanding its product offerings.

Financial Performance

Year	Revenue($B)	Net Income($B)	EBITDA($B)	Operational Cash Flow($B)
2020	4.45	0.54	0.96	0.79
2019	4.48	0.52	0.92	0.75
2018	4.22	0.47	0.86	0.70
2017	3.72	0.27	0.73	0.59
2016	3.57	0.17	0.67	0.54
2015	3.65	-0.13	0.65	0.53
2014	3.67	0.15	0.64	0.52
2013	1.03	0.04	0.18	0.15
2012	1.01	0.04	0.17	0.14
2011	0.98	0.04	0.17	0.14
2010	0.94	0.04	0.16	0.13
2009	0.88	0.04	0.15	0.12
2008	0.92	0.04	0.16	0.13
2007	0.92	0.04	0.16	0.13
2006	0.87	0.04	0.15	0.12
2005	0.82	0.04	0.14	0.11
2004	0.77	0.03	0.13	0.11
2003	0.73	0.03	0.13	0.10
2002	0.68	0.03	0.12	0.10
2001	0.64	0.03	0.11	0.09
2000	0.60	0.03	0.10	0.08
1999	0.56	0.03	0.10	0.08
1998	0.52	0.03	0.09	0.07
1997	0.48	0.02	0.08	0.07

Business Model

Zebra Technologies operates under a B2B model, serving industries such as healthcare, manufacturing, retail, and transportation & logistics with their innovative solutions.

They generate revenue primarily from the sale of physical products like printers, mobile computers, and barcode scanners, but also from software and services that provide value-add to their product ecosystem.

Zebra has a global network of more than 10,000 partners in over 100 countries, leveraging these relationships to reach a wide array of businesses.

Market Cap Over the Years

Year	Market Cap($B)
2022	30.5
2021	27.9
2020	17.6
2019	13.2
2018	8.7
2017	7.5
2016	6.3
2015	4.1
2014	3.9
2013	3.5
2012	2.7
2011	2.3
2010	2.1
2009	1.6
2008	1.3
2007	1.7
2006	1.5
2005	1.4
2004	1.3
2003	1.1
2002	0.9
2001	0.8
2000	0.7
1999	0.6
1998	0.5
1997	0.4
1996	0.3
1995	0.2
1994	0.1
1993	0.1
1992	0.1
1991	0.1

Risk Factors

There are several risk factors associated with Zebra Technologies.

These include the cyclical nature of the technology industry, which could impact the company’s sales and profitability.

In addition, Zebra operates in a highly competitive market, and failure to innovate or keep up with technological advancements could negatively impact its market position.

Other risks include supply chain disruptions, cyber security threats, and regulatory changes in the various countries where Zebra operates.

Market Opportunity

The market for barcode and RFID technologies is expected to continue growing, driven by increased demand in industries like healthcare, retail, and logistics for advanced tracking and identification systems.

As more industries recognize the benefits of data visibility in improving efficiency and reducing errors, Zebra is well-positioned to capitalize on these opportunities.

Additionally, the growth of IoT (Internet of Things) presents vast opportunities for Zebra’s solutions.

Competitors

• Honeywell International Inc.
• Datalogic S.p.A.
• SATO Holdings Corporation
• Cognex Corporation
• Toshiba Tec Corporation
• Avery Dennison Corporation
• Brother Industries, Ltd.
• Canon Inc.

Key/Fun Company Facts

• The company’s name - Zebra - was chosen because the founders felt that barcode technology, which the company is famous for, resembled a herd of zebras.
• Zebra Technologies products are used in over 100 countries worldwide, illustrating the truly global reach of the company.
• In 2014, Zebra acquired Motorola Solutions’ Enterprise business, further strengthening its position in the enterprise asset intelligence space.
• The company is a key player in IoT (Internet of Things) industry, and its solutions are often used to improve visibility into operational events.
• Zebra’s first product was not a barcode printer, but rather a high-speed electromechanical device called a “numerical tabulator”.