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Zebra TechnologiesZBRA +1.66%84 EV-to-OCF is 20.29 as of Aug. 21, 2026, which is 3% below its 10-year median of 21.01. GuruFocus rates ZBRA with a GF Score™ of 84/100 and a GF Value™ of $355.03 (Fairly Valued). The stock has 9 warning signs investors should review. Among 2,499 Hardware companies, Zebra Technologies ranks worse than 68.55% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Zebra Technologies's Enterprise Value is $19,861 Mil.
Zebra Technologies's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was $979 Mil. Therefore, Zebra Technologies's EV-to-OCF for today is 20.29.
The historical rank and industry rank for Zebra Technologies's EV-to-OCF or its related term are showing as below:
ZBRA'
s EV-to-OCF Range Over the Past 10 Years
Min: -4464.68 Med: 21.01 Max: 134.69
Current: 20.29
During the past 13 years, the highest EV-to-OCF of Zebra Technologies was 134.69. The lowest was -4464.68. And the median was 21.01.
ZBRA's EV-to-OCF is ranked worse than 68.55% of 2499
companies
in the Hardware industry
Industry Median: 8.32
vs ZBRA: 20.29
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Zebra Technologies's PE Ratio (TTM) for today is calculated as:
Zebra Technologies's share price for today is $360.52.
Zebra Technologies's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $10.930.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Zebra Technologies EV-to-OCF Related Terms
Zebra Technologies EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Zebra Technologies's EV-to-OCF 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.
For the Communication Equipment subindustry, Zebra Technologies's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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 EV-to-OCF vs Hardware Industry
For the Hardware industry and Technology sector, Zebra Technologies's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Zebra Technologies's EV-to-OCF falls into.
Zebra Technologies's current Enterprise Value is $19,861 Mil.
Zebra Technologies's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $979 Mil.
* 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.
Zebra Technologies (ZBRA) has a EV-to-OCF of 20.29 as of Aug. 21, 2026. This is near median its historical median of 21.01. According to the industry distribution chart, Zebra Technologies ranks #1713 out of 2499 companies in the Hardware industry, placing it in the top 68.5%.
Is Zebra Technologies' EV-to-OCF too high?
Zebra Technologies' current EV-to-OCF of 20.29 is near median its 10-year median of 21.01. The Hardware industry median EV-to-OCF is 8.32. Zebra Technologies' value of 20.29 is 143.9% above this industry median. Based on the distribution chart, Zebra Technologies ranks #1713 out of 2499 companies in the Hardware industry, which is below the industry midpoint. Overall, Zebra Technologies has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Zebra Technologies' EV-to-OCF compare to VSAT and VIAV?
According to the Hardware industry distribution chart, Zebra Technologies ranks #1713 out of 2499 companies for EV-to-OCF. This places Zebra Technologies in the lower half of its industry. The industry median EV-to-OCF is 8.32. Zebra Technologies' value of 20.29 is 143.9% above this benchmark. While the company's 10-year median is 21.01 vs. the industry median of 8.32, 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 EV-to-OCF for a Hardware company?
The median EV-to-OCF among Hardware companies is 8.32, based on 2,499 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Zebra Technologies's current EV-to-OCF of 20.29 is 143.9% 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 EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Hardware industry, the median EV-to-OCF is 8.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zebra Technologies's current EV-to-OCF is 20.29, which is near median its own 10-year median of 21.01. 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 Fairly Valued. The stock's GF Value™ is $355.03, compared to a current price of $360.52 — trading 1.5% above its estimated fair value. The current EV-to-OCF is 20.29, which is near median its 10-year median of 21.01 and 143.9% above the Hardware industry median of 8.32. Zebra Technologies' overall GF Score™ is 84/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Zebra Technologies (ZBRA), the current EV-to-OCF is 20.29 as of Aug. 21, 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 overvalued.
The current stock price of $360.52 is trading 1.5% above its estimated GF Value™ of $355.03.
GuruFocus considers Zebra Technologies to be Fairly Valued.
Key valuation signals for ZBRA:
EV-to-OCF: 20.29 (near median its 10-year median of 21.01)
GF Value™: $355.03 vs. price of $360.52 (1.5% above fair value)
Industry Position: 143.9% above the Hardware median (#1713 of 2499)
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.
84GF Score
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