ZEBRA TECHNOLOGIES CORP

General Industrial Machinery & Equipment·LINCOLNSHIRE, IL·FY end 12/31·CIK 877212

CEO Pay Ratio

202:1

William Burns

CEO Total Comp

$13.9M

William Burns

Median Employee

$68,738

Revenue

$5.4B

FY 2025

Net Income

$419.0M

FY 2025

Free Cash Flow

$831.0M

FY 2025

Net Margin

7.8%

Insider Net (180d)

$117.5K

2 buys / 2 sales

CEO Pay Accountability

CEO comp as % of net income

3.32%

For every $1,000 of profit, $33.15 flows to the CEO.

CEO comp as % of buybacks

2.37%

CEO comp equals 23.7‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$5.4B	$5.0B	$4.6B	$5.8B	$5.6B
Gross Profit	$2.6B	$2.4B	$2.1B	$2.6B	$2.6B
Operating Income	$700.0M	$742.0M	$481.0M	$529.0M	$979.0M
Net Income	$419.0M	$528.0M	$296.0M	$463.0M	$837.0M
Operating CF	$917.0M	$1.0B	-$4.0M	$488.0M	$1.1B
Capex	$86.0M	$59.0M	$87.0M	$75.0M	$59.0M
Free Cash Flow	$831.0M	$954.0M	-$91.0M	$413.0M	$1.0B
Buybacks	$587.0M	$47.0M	$52.0M	$751.0M	$57.0M
Dividends	—	—	—	—	—	—

Gross Margin	48.1%	48.4%	46.3%	45.4%	46.7%
Operating Margin	13.0%	14.9%	10.5%	9.2%	17.4%
Net Margin	7.8%	10.6%	6.5%	8.0%	14.9%
FCF Margin	15.4%	19.2%	-2.0%	7.1%	17.9%
R&D / Revenue	11.0%	11.3%	11.3%	9.9%	10.1%
Effective Tax	25.2%	16.9%	11.4%	14.9%	13.5%
Debt / Equity	0.66	0.58	0.67	0.66	0.31
Buybacks / FCF	70.6%	4.9%	-57.1%	181.8%	5.6%

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
William BurnsChief Executive Officer	$1.0M	$11.0M	—	$1.8M	$101.6K	$13.9M
Nathan WintersChief Financial Officer	$640.5K	$4.2M	—	$734.7K	$48.4K	$5.6M
Richard Hudson	$575.2K	$2.7M	—	$659.8K	$312.9K	$4.2M
Cristen KoglChief Legal Officer, General	$615.0K	$2.5M	—	$564.3K	$98.8K	$3.8M
Joseph WhiteFormer Chief Products and	$490.9K	$3.1M	—	—	$79.2K	$3.7M
Jeffrey SchmitzChief People Officer	$543.5K	$2.2M	—	$498.7K	$78.4K	$3.3M
Counsel and CorporateSecretary	$596.2K	$2.3M	—	$86.3K	$59.3K	$3.0M