Zebra TechnologiesZBRA -0.29%78 PB Ratio is 3.73 as of Jul. 04, 2026, which is 40% below its 10-year median of 6.24. GuruFocus rates ZBRA with a GF Score™ of 78/100 and a GF Value™ of $335.29 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 2,416 Hardware companies, Zebra Technologies ranks worse than 65.73% on this metric.
The historical rank and industry rank for Zebra Technologies's PB Ratio or its related term are showing as below:
ZBRA'
s PB Ratio Range Over the Past 10 Years
Min: 2.8 Med: 6.24 Max: 12.45
Current: 3.73
During the past 13 years, Zebra Technologies's highest PB Ratio was 12.45. The lowest was 2.80. And the median was 6.24.
ZBRA's PB Ratio is ranked worse than 65.73% of 2416
companies
in the Hardware industry
Industry Median: 2.405
vs ZBRA: 3.73
During the past 12 months, Zebra Technologies's average Book Value Per Share Growth Rate was 1.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 10.80% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 11.20% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 19.20% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Zebra Technologies was 72.00% per year. The lowest was -8.00% per year. And the median was 13.80% per year.
Back to Basics: PB Ratio
Zebra Technologies (NAS:ZBRA) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Zebra Technologies PB Ratio Related Terms
Zebra Technologies PB Ratio Historical Data
* Premium members only.
The historical data trend for Zebra Technologies's PB Ratio 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 PB Ratio, along with its competitors' market caps and PB Ratio 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 PB Ratio vs Hardware Industry
For the Hardware industry and Technology sector, Zebra Technologies's PB Ratio distribution charts can be found below:
* The bar in red indicates where Zebra Technologies's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Zebra Technologies (ZBRA) has a PB Ratio of 3.73 as of Jul. 04, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Zebra Technologies and its competitors. This is 40% below median its historical median of 6.24. Over the past decade, Zebra Technologies' PB Ratio has ranged from 2.80 to 12.45. According to the industry distribution chart, Zebra Technologies ranks #1588 out of 2416 companies in the Hardware industry, placing it in the top 65.7%.
Is Zebra Technologies' PB Ratio too high?
Zebra Technologies' current PB Ratio of 3.73 is 40% below median its 10-year median of 6.24. Over the past 10 years, this metric has ranged from a low of 2.80 to a high of 12.45. The Hardware industry median PB Ratio is 2.41. Zebra Technologies' value of 3.73 is 55.1% above this industry median. Based on the distribution chart, Zebra Technologies ranks #1588 out of 2416 companies in the Hardware industry, which is below the industry midpoint. Overall, Zebra Technologies has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zebra Technologies' PB Ratio compare to VIAV and AAOI?
According to the Hardware industry distribution chart, Zebra Technologies ranks #1588 out of 2416 companies for PB Ratio. This places Zebra Technologies in the lower half of its industry. The industry median PB Ratio is 2.41. Zebra Technologies' value of 3.73 is 55.1% above this benchmark. Historically, Zebra Technologies' own PB Ratio has ranged from 2.80 to 12.45 over the past decade. While the company's 10-year median is 6.24 vs. the industry median of 2.41, 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 PB Ratio for a Hardware company?
The median PB Ratio among Hardware companies is 2.41, based on 2,416 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Zebra Technologies's current PB Ratio of 3.73 is 55.1% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Zebra Technologies and its competitors. For the Hardware industry, the median PB Ratio is 2.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zebra Technologies's current PB Ratio is 3.73, which is 40% below median its own 10-year median of 6.24. 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 $335.29, compared to a current price of $267.20 — trading 20.3% below its estimated fair value. The current PB Ratio is 3.73, which is 40% below median its 10-year median of 6.24 and 55.1% above the Hardware industry median of 2.41. Zebra Technologies' overall GF Score™ is 78/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Zebra Technologies (ZBRA), the current PB Ratio is 3.73 as of Jul. 04, 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 $267.20 is trading 20.3% below its estimated GF Value™ of $335.29.
GuruFocus considers Zebra Technologies to be Modestly Undervalued.
Key valuation signals for ZBRA:
PB Ratio: 3.73 (40% below median its 10-year median of 6.24)
GF Value™: $335.29 vs. price of $267.20 (20.3% below fair value)
Industry Position: 55.1% above the Hardware median (#1588 of 2416)
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.
78GF Score
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