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