This is our first report on one of the leading players in the Automatic Identification Data Capture (AIDC) market, Zebra Technologies Corporation. The company’s enterprise asset intelligence solutions in the AIDC space have been performing well and it delivered an all-around beat in the last result. For the solutions which automate and digitize workflows, customer demand remains strong for Zebra and it saw good growth in the e-commerce, retail, manufacturing, and healthcare end markets. Zebra also scaled adjusted operating expenses to drive profitability while prudently investing in growth initiatives. The new credit facility of the company provided it ample flexibility for inorganic and organic investment. Zebra Technologies also completed its acquisition of a proven developer of advanced machine vision components, systems, and software, Matrix Imaging. In RFID solutions and ruggedized tablets, Zebra realized strong growth in the quarter. The company has been experiencing quite a steady improvement in manufacturing output. The tracking segment and asset intelligence, including supplies and print increased, driven by a robust recovery in printing. Fetch AMR campaigns; the material movement solutions endure robust traction in use cases for waste removal, spare parts campaigns, automotive, supply delivery, and healthcare. We initiate coverage on the stock of Zebra Technologies Corporation with a ‘Buy’ rating.
Our Report Structure:
⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
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