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Zebra TechnologiesZBRA -0.50%80 Debt-to-EBITDA is 2.74 as of Mar. 2026, which is 19% above its 10-year median of 2.31. GuruFocus rates ZBRA with a GF Score™ of 80/100 and a GF Value™ of $338.68 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 1,794 Hardware companies, Zebra Technologies ranks worse than 66.83% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Zebra Technologies's Debt-to-EBITDA or its related term are showing as below:
ZBRA'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.99 Med: 2.31 Max: 7.2
Current: 3.22
During the past 13 years, the highest Debt-to-EBITDA Ratio of Zebra Technologies was 7.20. The lowest was 0.99. And the median was 2.31.
ZBRA's Debt-to-EBITDA is ranked worse than 66.83% of 1794
companies
in the Hardware industry
Industry Median: 1.705
vs ZBRA: 3.22
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Zebra Technologies Debt-to-EBITDA Related Terms
Zebra Technologies Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Zebra Technologies's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ZBRA vs VSAT, VIAV, AAOI: Debt-to-EBITDA Comparison
For the Communication Equipment subindustry, Zebra Technologies's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Zebra Technologies Debt-to-EBITDA vs Hardware Industry
For the Hardware industry and Technology sector, Zebra Technologies's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Zebra Technologies's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Zebra Technologies (ZBRA) has a Debt-to-EBITDA of 2.74 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Zebra Technologies. This is 19% above median its historical median of 2.31. Over the past decade, Zebra Technologies' Debt-to-EBITDA has ranged from 0.99 to 7.20. According to the industry distribution chart, Zebra Technologies ranks #1199 out of 1794 companies in the Hardware industry, placing it in the top 66.8%.
Is Zebra Technologies' Debt-to-EBITDA too high?
Zebra Technologies' current Debt-to-EBITDA of 2.74 is 19% above median its 10-year median of 2.31. Over the past 10 years, this metric has ranged from a low of 0.99 to a high of 7.20. The Hardware industry median Debt-to-EBITDA is 1.71. Zebra Technologies' value of 2.74 is 60.7% above this industry median. Based on the distribution chart, Zebra Technologies ranks #1199 out of 1794 companies in the Hardware industry, which is below the industry midpoint. Overall, Zebra Technologies has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zebra Technologies' Debt-to-EBITDA compare to VSAT and VIAV?
According to the Hardware industry distribution chart, Zebra Technologies ranks #1199 out of 1794 companies for Debt-to-EBITDA. This places Zebra Technologies in the lower half of its industry. The industry median Debt-to-EBITDA is 1.71. Zebra Technologies' value of 2.74 is 60.7% above this benchmark. Historically, Zebra Technologies' own Debt-to-EBITDA has ranged from 0.99 to 7.20 over the past decade. While the company's 10-year median is 2.31 vs. the industry median of 1.71, Zebra Technologies has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Hardware company?
The median Debt-to-EBITDA among Hardware companies is 1.71, based on 1,794 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Zebra Technologies's current Debt-to-EBITDA of 2.74 is 60.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Zebra Technologies. For the Hardware industry, the median Debt-to-EBITDA is 1.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zebra Technologies's current Debt-to-EBITDA is 2.74, which is 19% above median its own 10-year median of 2.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zebra Technologies stock overvalued right now?
Based on GuruFocus' analysis, Zebra Technologies (ZBRA) is currently considered Modestly Undervalued. The stock's GF Value™ is $338.68, compared to a current price of $283.18 — trading 16.4% below its estimated fair value. The current Debt-to-EBITDA is 2.74, which is 19% above median its 10-year median of 2.31 and 60.7% above the Hardware industry median of 1.71. Zebra Technologies' overall GF Score™ is 80/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Zebra Technologies (ZBRA), the current Debt-to-EBITDA is 2.74 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Zebra Technologies (ZBRA) Overvalued in 2026?
Based on GuruFocus' analysis, Zebra Technologies stock appears to be undervalued.
The current stock price of $283.18 is trading 16.4% below its estimated GF Value™ of $338.68.
GuruFocus considers Zebra Technologies to be Modestly Undervalued.
Key valuation signals for ZBRA:
Debt-to-EBITDA: 2.74 (19% above median its 10-year median of 2.31)
GF Value™: $338.68 vs. price of $283.18 (16.4% below fair value)
Industry Position: 60.7% above the Hardware median (#1199 of 1794)
No single metric tells the full story. See the ZBRA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zebra Technologies is the largest provider of automatic identification and data capture technology to enterprises. Its solutions include barcode printers and scanners, mobile computers, and workflow optimization software. The firm primarily serves the retail, transportation logistics, manufacturing, and healthcare markets, designing custom solutions to improve efficiency at its customers.
80GF Score
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