Zebra Technologies
Zebra Technologies returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jul 4, 2026 | 11.9% | 15.62% | -0.62% | 15.29% | 6.5% | 4.2 pp |
| FY 2026 Q1 | Apr 4, 2026 | 9.8% | 11.17% | -10.44% | 11.78% | 5.15% | 2.1 pp |
| FY 2025 Q4 | Dec 31, 2025 | 9.68% | 10.84% | -8.41% | 11.68% | 5.09% | 2 pp |
| FY 2025 Q3 | Sep 27, 2025 | 12.28% | 12.48% | — | 14.29% | 6.5% | 4.6 pp |
| FY 2025 Q2 | Jun 28, 2025 | 13.24% | 12.9% | — | 15.87% | 7.1% | 5.5 pp |
| FY 2025 Q1 | Mar 29, 2025 | 12.92% | 13.04% | — | 16.16% | 7.24% | 5.2 pp |
| FY 2024 Q4 | Dec 31, 2024 | 12.37% | 12.4% | — | 15.95% | 6.91% | 4.7 pp |
| FY 2024 Q3 | Sep 28, 2024 | 10.38% | 9.94% | — | 11.87% | 5.09% | 2.7 pp |
| FY 2024 Q2 | Jun 29, 2024 | 6.85% | 6.66% | — | 7.33% | 3.08% | -0.8 pp |
| FY 2024 Q1 | Mar 30, 2024 | 7.42% | 7.53% | -39.23% | 8.61% | 3.54% | -0.3 pp |
| FY 2023 Q4 | Dec 31, 2023 | 8.73% | 8.82% | -5.12% | 10.26% | 3.99% | 1 pp |
| FY 2023 Q3 | Sep 30, 2023 | 11.18% | 11.97% | 27.53% | 16.4% | 6.29% | 3.5 pp |
| FY 2023 Q2 | Jul 1, 2023 | 14.69% | 16.08% | 42.77% | 23.61% | 8.76% | 7 pp |
| FY 2023 Q1 | Apr 1, 2023 | 10.54% | 11.14% | -31.97% | 14.08% | 6% | 2.8 pp |
| FY 2022 Q4 | Dec 31, 2022 | 10.86% | 11.01% | -39.31% | 16.2% | 6.74% | 3.2 pp |
| FY 2022 Q3 | Oct 1, 2022 | 10.26% | 10.19% | -36.22% | 17.1% | 7.03% | 2.6 pp |
| FY 2022 Q2 | Jul 2, 2022 | 12.13% | 11.32% | -23.95% | 19.48% | 7.66% | 4.4 pp |
| FY 2022 Q1 | Apr 2, 2022 | 22.11% | 22.43% | 21.77% | 30.62% | 14.11% | 14.4 pp |
| FY 2021 Q4 | Dec 31, 2021 | 24.67% | 24.66% | 61.76% | 32.64% | 14.44% | 17 pp |
| FY 2021 Q3 | Oct 2, 2021 | 25.02% | 25.43% | 779.37% | 35.6% | 15.21% | 17.3 pp |
| FY 2021 Q2 | Jul 3, 2021 | 25.4% | 24.79% | 68.05% | 34.7% | 14.94% | 17.7 pp |
| FY 2021 Q1 | Apr 3, 2021 | 21.08% | 21.54% | 24.83% | 31.08% | 12.92% | 13.4 pp |
| FY 2020 Q4 | Dec 31, 2020 | 18.58% | 19.06% | -32.3% | 25.31% | 9.99% | 10.9 pp |
| FY 2020 Q3 | Sep 26, 2020 | 16.6% | 17.67% | -14.05% | 26.15% | 9.52% | 8.9 pp |
| FY 2020 Q2 | Jun 27, 2020 | 18.81% | 19.14% | — | 29.39% | 10.61% | 11.1 pp |
| FY 2020 Q1 | Mar 28, 2020 | 19.92% | 20.32% | — | 32.44% | 11.36% | 12.2 pp |
| FY 2019 Q4 | Dec 31, 2019 | 21.1% | 21.81% | 68.34% | 34.28% | 12.02% | 13.4 pp |
| FY 2019 Q3 | Sep 28, 2019 | 18.89% | 20.4% | 183.16% | 33.71% | 10.76% | 11.2 pp |
| FY 2019 Q2 | Jun 29, 2019 | 18.36% | 19.52% | 134.01% | 36.55% | 10.72% | 10.7 pp |
| FY 2019 Q1 | Mar 30, 2019 | 16.51% | 18.53% | 310.69% | 34.89% | 9.68% | 8.8 pp |
| FY 2018 Q4 | Dec 31, 2018 | 16.67% | 19.33% | — | 38.82% | 9.77% | 9 pp |
| FY 2018 Q3 | Sep 29, 2018 | 12.27% | 16.63% | — | 30.59% | 6.95% | 4.6 pp |
| FY 2018 Q2 | Jun 30, 2018 | 9% | 14.67% | — | 18.14% | 3.92% | 1.3 pp |
| FY 2018 Q1 | Mar 31, 2018 | 7.23% | 12.3% | — | 13.29% | 2.69% | -0.5 pp |
| FY 2017 Q4 | Dec 31, 2017 | 1.98% | 9.26% | — | 2.09% | 0.38% | -5.7 pp |
| FY 2017 Q3 | Sep 30, 2017 | 7.9% | 7.17% | — | 3.84% | 0.65% | 0.2 pp |
| FY 2017 Q2 | Jul 1, 2017 | — | 3.92% | — | -4.99% | -0.89% | — |
| FY 2017 Q1 | Apr 1, 2017 | — | 2.85% | — | -12.78% | -2.26% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | 2.04% | — | -16.07% | -2.84% | — |
| FY 2016 Q3 | Oct 1, 2016 | — | 0.5% | — | -20.16% | -3.39% | — |
| FY 2016 Q2 | Jul 2, 2016 | — | 1.67% | — | -12.73% | -2.27% | — |
| FY 2016 Q1 | Apr 2, 2016 | — | 0.77% | — | -14.77% | -2.71% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | 1.21% | — | -14.03% | -2.59% | — |
| FY 2015 Q3 | Oct 3, 2015 | — | 0.22% | — | -18.3% | -5.64% | — |
| FY 2015 Q2 | Jul 4, 2015 | — | 0.29% | — | -13.83% | -4.3% | — |
| FY 2015 Q1 | Apr 4, 2015 | — | 1.95% | — | -3.39% | -1.04% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | 3.16% | — | 3.25% | 0.97% | — |
| FY 2014 Q3 | Sep 27, 2014 | — | 15.82% | — | 12.66% | 10.88% | — |
| FY 2014 Q2 | Jun 28, 2014 | — | 18.12% | — | 15.37% | 13.36% | — |
| FY 2014 Q1 | Mar 29, 2014 | — | 18.98% | — | 16.08% | 14.21% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | 17.11% | — | 14.8% | 12.87% | — |
| FY 2013 Q3 | Sep 28, 2013 | — | 17.48% | — | 14.65% | 12.98% | — |
| FY 2013 Q2 | Jun 29, 2013 | — | 16.82% | — | 13.53% | 11.93% | — |
| FY 2013 Q1 | Mar 30, 2013 | — | 17.54% | — | 13.8% | 12.31% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | 19.77% | — | 15.04% | 13.17% | — |
| FY 2012 Q3 | Sep 29, 2012 | — | 20.23% | — | 15.57% | 13.72% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | 21.53% | — | 17.87% | 15.65% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | 22.77% | — | 18.43% | 15.91% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | 23.75% | — | 23.18% | 19.65% | — |
| FY 2011 Q3 | Oct 1, 2011 | — | 24.38% | — | 22.73% | 19.47% | — |
| FY 2011 Q2 | Jul 2, 2011 | — | 23.04% | — | 20.18% | 17.39% | — |
| FY 2011 Q1 | Apr 2, 2011 | — | — | — | — | — | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Oct 2, 2010 | — | — | — | — | — | — |
| FY 2010 Q2 | Jul 3, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · ZBRA, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.