Zebra Technologies Corporation (ZBRA)
Debt-to-equity ratio
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,047,000 | 2,121,000 | 2,042,000 | 1,880,000 | 1,809,000 | 2,017,000 | 2,017,000 | 913,000 | 922,000 | 940,000 | 944,000 | 956,000 | 881,000 | 1,086,000 | 986,000 | 1,167,000 | 1,080,000 | 1,314,000 | 1,561,000 | 1,605,000 |
| Total stockholders’ equity | US$ in thousands | 3,036,000 | 3,013,000 | 2,992,000 | 2,891,000 | 2,733,000 | 2,657,000 | 2,513,000 | 2,906,000 | 2,984,000 | 2,816,000 | 2,589,000 | 2,411,000 | 2,144,000 | 1,931,000 | 1,803,000 | 1,727,000 | 1,839,000 | 1,694,000 | 1,559,000 | 1,467,000 |
| Debt-to-equity ratio | 0.67 | 0.70 | 0.68 | 0.65 | 0.66 | 0.76 | 0.80 | 0.31 | 0.31 | 0.33 | 0.36 | 0.40 | 0.41 | 0.56 | 0.55 | 0.68 | 0.59 | 0.78 | 1.00 | 1.09 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,047,000K ÷ $3,036,000K
= 0.67
The debt-to-equity ratio of Zebra Technologies Corp. has shown a fluctuating trend over the past eight quarters. The ratio ranged from 0.38 to 0.86 during this period. In Q1 2023, the debt-to-equity ratio was at its lowest at 0.72, indicating a conservative capital structure with a higher proportion of equity financing compared to debt. However, this ratio increased to 0.81 in Q2 2022 and further to 0.86 in Q3 2022, suggesting a higher reliance on debt to fund operations and expansion during those periods.
It is worth noting that a debt-to-equity ratio of around 0.7 to 0.8 indicates that the company has a moderate level of debt relative to its equity. This range is typically considered acceptable for most industries, but it is important to monitor the trend over time to assess the company's leverage and financial risk. The decrease in the debt-to-equity ratio in the most recent quarters, from 0.86 in Q3 2022 to 0.73 in Q4 2023, may indicate a shift towards a more conservative financial structure or successful debt reduction efforts by the company.
Overall, Zebra Technologies Corp. seems to manage its debt and equity levels within a reasonable range, but continued monitoring of this ratio is advisable to ensure the company maintains a healthy balance between debt and equity financing.
Peer comparison
Dec 31, 2023