Filing Flows › Zebra Technologies (ZBRA) › How it makes money
How Zebra Technologies (ZBRA) makes money
Zebra Technologies (ZBRA) made $1.6B of revenue in the third quarter 2026 (Q3 2026), +22% from a year earlier. Tangible Products brought in $1.4B (85%); Services and Software brought in $244M (15%). Of every dollar of revenue, 46¢ was left as gross profit, 15¢ was left as operating profit, 10¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Tangible Products | $1.4B | 84.9% | +4% | +27% |
| Services and Software | $244M | 15.1% | +1% | +2% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.6B | 100.0% |
| Cost of revenue | $876M | 54.3% |
| Gross profit | $738M | 45.7% |
| Operating expenses | $501M | 31.0% |
| Operating profit | $237M | 14.7% |
| Income tax | $34.0M | 2.1% |
| Net earnings | $164M | 10.2% |
| Operating cash flow | $324M | 20.1% |
| Free cash flow | $300M | 18.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.6B | +22% |
| Q2 2026 | $1.6B | +20% |
| Q1 2026 | $1.5B | +14% |
| Q4 2025 | $1.5B | +11% |
| Q3 2025 | $1.3B | +5% |
| Q2 2025 | $1.3B | +6% |
| Q1 2025 | $1.3B | +11% |
From Zebra Technologies' 10-Q filed Nov 3, 2026 (on EDGAR).
Questions
How does Zebra Technologies make money?
Zebra Technologies (ZBRA) made $1.6B of revenue in the third quarter 2026 (Q3 2026), +22% from a year earlier. Tangible Products brought in $1.4B (85%); Services and Software brought in $244M (15%). Of every dollar of revenue, 46¢ was left as gross profit, 15¢ was left as operating profit, 10¢ was left as net earnings.
What is Zebra Technologies' biggest business?
Tangible Products: $1.4B in the third quarter 2026, 85% of revenue, +27% from a year earlier.
What is Zebra Technologies' profit margin?
Net earnings were $164M, 10.2% of revenue, in the third quarter 2026; the operating margin was 14.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.