Zebra Technologies Corporation (ZBRA)
Financial leverage 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 7,306,000 | 7,331,000 | 7,456,000 | 7,474,000 | 7,529,000 | 7,448,000 | 7,385,000 | 6,129,000 | 6,215,000 | 5,865,000 | 5,593,000 | 5,411,000 | 5,375,000 | 5,245,000 | 4,607,000 | 4,540,000 | 4,711,000 | 4,708,000 | 4,701,000 | 4,576,000 |
| 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 |
| Financial leverage ratio | 2.41 | 2.43 | 2.49 | 2.59 | 2.75 | 2.80 | 2.94 | 2.11 | 2.08 | 2.08 | 2.16 | 2.24 | 2.51 | 2.72 | 2.56 | 2.63 | 2.56 | 2.78 | 3.02 | 3.12 |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,306,000K ÷ $3,036,000K
= 2.41
The financial leverage ratio for Zebra Technologies Corp. has been fluctuating over the past eight quarters. The ratio indicates how much the company is relying on debt financing to support its operations and growth.
Initially, in Q1 2022, the financial leverage ratio was at a relatively low level of 2.11, suggesting a lower dependence on debt to fund its activities. However, the ratio started increasing steadily over the following quarters, reaching a peak of 2.94 in Q2 2022, which was the highest level during this period.
Subsequently, there was a slight decrease in the financial leverage ratio in Q3 2022 and Q4 2022, but the ratio remained above 2.5, indicating a significant reliance on debt financing. The trend continued in the first two quarters of 2023, with the ratio standing at 2.59 in Q1 2023 and declining slightly to 2.49 in Q2 2023.
The most recent data shows a further decrease in the financial leverage ratio to 2.43 in Q3 2023 and 2.41 in Q4 2023. While the decreasing trend may suggest that the company is reducing its reliance on debt and improving its financial stability, it is essential to monitor this ratio over time to assess the long-term implications of the company's capital structure decisions.
Peer comparison
Dec 31, 2023