Zebra Technologies price to free cash flow ZBRA

Market value divided by free cash flow over the last twelve months, since 2011.

Today, Oct 23, 2026: 20.2×
10-year median: 19.9×
Against its 10-year history: 52nd; percentile: 0 is its lowest day, 100 its highest
10-year range: 11.8× to 281×
Peer median: 30.2×

Zebra Technologies' price to free cash flow is 20.2× as of Oct 23, 2026.

That is above its ten-year median of 19.9×, close to the middle of its last ten years.

Over that time it ranged from 11.8× in Dec 2018 to 281× in Dec 2023.

The median for 10 communication equipment stocks of a similar size is 30.2×.

Price to free cash flow over time

median 19.9×

The dashed line is the 10-year median and the shaded band the middle half of its days.

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	20.2×	12.0×	20.3×
2025	15.8×	12.0×	27.8×
2024	26.1×	25.8×	260×
2023	281×	35.8×	281×
2022	34.7×	18.1×	37.1×
2021	26.3×	24.5×	30.7×
2020	28.1×	15.4×	28.1×
2019	20.2×	12.4×	20.3×
2018	12.6×	11.8×	24.1×
2017	20.2×	13.6×	31.3×
2016	28.9×	23.0×	54.6×
2015	28.4×	21.6×	60.1×
2014	24.7×	16.0×	24.7×
2013	16.4×	13.3×	16.4×
2012	12.9×	12.3×	42.0×
2011	38.2×	24.8×	40.7×

Against its peers

Companies in Communication Equipment nearest Zebra Technologies' size, closest first, today.

Company	Price to free cash flow
ZBRAZebra Technologies	20.2×
FNFabrinet	n/m
UIUbiquiti	39.1×
CIENCiena	55.8×
ESEEsco Technologies	29.0×
LITELumentum	226×
MSIMotorola Solutions	29.8×
ONDSOndas	n/m
EXTRExtreme Networks	30.1×
DGIIDigi International	20.9×
ATENA10 Networks	30.3×
Peer median	30.2×

What the price to free cash flow tells you

Market value divided by free cash flow: the cash left after running the business and paying for equipment. Cash is harder to manage than accounting earnings, so many investors trust this more than PE.

Lumpy: a big year of building factories drops cash flow and inflates the ratio without the business getting worse.

More on Zebra Technologies

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.