Motorola Solutions, Inc. MSI

Technology SIC 3663 - Radio & Tv Broadcasting & Communications Equipment NAICS Manufacturing › Computer and Electronic Product Manufacturing › Communications Equipment Manufacturing › Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing derived NYSE

Last close 481.83 2026-10-23
Market cap $79.74B 2026-07-04 share count
52-week range 359.36 - 494.85

Valuation FY2025 figures against the last close

P/S6.8x
P/E37.8x
P/FCF31.0x
EV/EBITDA25.5x
Dividend yield0.9%
Diluted EPS12.75

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • North America
  • International
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 North America, FY2025: 8.4B (71.6%) 72% North America International, FY2025: 3.3B (28.4%) 28% International FY2024 North America, FY2024: 7.8B (72.3%) 72% International, FY2024: 3B (27.7%) 28% FY2023 North America, FY2023: 6.9B (69.5%) 69% International, FY2023: 3B (30.5%) 31%
Region FY2025FY2024FY2023
North America $8.36B $7.82B $6.93B
International $3.32B $3.00B $3.05B

As the company reported it, from the “Revenue from Contracts with Customers - Disaggregation of Revenue (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Revenue by segment

  • Products and Systems Integration
  • Software and Services
Revenue by segment, 2 categories over 3 years. The same figures are in the table below. FY2025 Products and Systems Integration, FY2025: 7.3B (62.1%) 62% Products and Systems Integration Software and Services, FY2025: 4.4B (37.9%) 38% Software and Services FY2024 Products and Systems Integration, FY2024: 6.9B (63.6%) 64% Software and Services, FY2024: 3.9B (36.4%) 36% FY2023 Products and Systems Integration, FY2023: 6.2B (62.6%) 63% Software and Services, FY2023: 3.7B (37.4%) 37%
Segment FY2025FY2024FY2023
Products and Systems Integration $7.25B $6.88B $6.24B
Software and Services $4.43B $3.93B $3.74B

As the company reported it, from the “Information by Segment and Geographic Region - Net Sales and Operating Earnings by Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $11.68B$10.82B$9.98B$9.11B$8.17B$7.41B$7.89B$7.34B$6.38B$6.04B
Cost of revenue $5.65B$5.30B$5.01B$4.88B$4.13B$3.81B$3.96B$3.86B$3.36B$3.17B
Gross profit $6.04B$5.51B$4.97B$4.23B$4.04B$3.61B$3.93B$3.48B$3.02B$2.87B
R&D $970.0M$917.0M$858.0M$779.0M$734.0M$686.0M$687.0M$637.0M$568.0M$553.0M
SG&A $1.87B$1.75B$1.56B$1.45B$1.35B$1.29B$1.40B$1.25B$1.02B$1.04B
Operating income $2.99B$2.69B$2.29B$1.66B$1.67B$1.38B$1.58B$1.25B$1.28B$1.05B
Interest expense $360.0M$295.0M$249.0M$240.0M$215.0M$233.0M$237.0M$240.0M$215.0M$225.0M
Pre-tax income $2.81B$1.97B$2.15B$1.51B$1.55B$1.17B$1.00B$1.10B$1.08B$844.0M
Income tax $652.0M$390.0M$432.0M$148.0M$302.0M$221.0M$130.0M$133.0M$1.23B$282.0M
Net income $2.15B$1.58B$1.71B$1.36B$1.25B$949.0M$868.0M$966.0M-$155.0M$560.0M
EPS, basic 12.939.4510.238.147.365.585.215.95-0.953.30
EPS, diluted 12.759.239.937.937.175.454.955.62-0.953.24
Shares, diluted (wtd. avg.) 169.0M170.8M172.1M171.9M173.6M174.1M175.6M172.0M162.9M173.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $1.17B$2.10B$1.71B$1.32B$1.87B$1.25B$1.00B$1.26B$1.27B$1.03B
Receivables $2.20B$1.95B$1.71B$1.52B$1.39B$1.39B$1.41B$1.29B$1.52B$1.41B
Inventory $983.0M$766.0M$827.0M$1.05B$788.0M$508.0M$447.0M$356.0M$327.0M$273.0M
Total current assets $6.30B$6.48B$5.72B$5.25B$5.41B$4.33B$4.18B$4.27B$3.95B$3.47B
Property, plant and equipment $1.17B$1.02B$964.0M$927.0M$1.04B$1.02B$992.0M$895.0M$856.0M$789.0M
Goodwill $6.80B$3.53B$3.40B$3.31B$2.56B$2.22B$2.07B$1.51B$938.0M$728.0M
Other intangibles $3.10B$1.25B$1.25B$1.34B$1.10B$1.23B$1.33B$1.23B$861.0M$821.0M
Total assets $19.39B$14.60B$13.34B$12.81B$12.19B$10.88B$10.64B$9.41B$8.21B$8.46B
Accounts payable $1.13B$1.02B$881.0M$1.06B$851.0M$612.0M$618.0M$592.0M$593.0M$553.0M
Short-term debt $0$322.0M$1.31B$1.0M$5.0M$12.0M$16.0M$31.0M$52.0M$4.0M
Total current liabilities $6.08B$5.05B$5.74B$4.56B$4.06B$3.49B$3.44B$3.10B$2.93B$2.67B
Long-term debt $8.41B$5.67B$4.71B$6.01B$5.69B$5.16B$5.11B$5.29B$4.42B$4.39B
Retained earnings $2.55B$2.30B$1.64B$1.34B$1.35B$1.13B$1.24B$1.05B$467.0M$1.15B
Total equity $2.41B$1.70B$724.0M$116.0M-$40.0M-$558.0M-$700.0M-$1.29B-$1.74B-$964.0M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.84B$2.39B$2.04B$1.82B$1.84B$1.61B$1.82B$1.07B$1.35B$1.17B
Depreciation and amortisation $425.0M$336.0M$356.0M$440.0M$438.0M$409.0M$394.0M$360.0M$343.0M$295.0M
Stock-based compensation $293.0M$243.0M$212.0M$172.0M$129.0M$129.0M$118.0M$73.0M$66.0M$68.0M
Capital expenditure $265.0M$257.0M$253.0M$256.0M$243.0M$217.0M$248.0M$197.0M$227.0M$271.0M
Investing cash flow -$5.16B-$507.0M-$414.0M-$1.39B-$742.0M-$437.0M-$934.0M-$1.27B-$448.0M-$1.00B
Financing cash flow $1.31B-$1.45B-$1.29B-$906.0M-$429.0M-$966.0M-$1.14B$220.0M-$722.0M-$1.04B
Dividends paid $728.0M$654.0M$589.0M$530.0M$482.0M$436.0M$379.0M$337.0M$307.0M$280.0M
Buybacks $1.15B$244.0M$804.0M$836.0M$528.0M$612.0M$315.0M$132.0M$483.0M$842.0M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000068505-26-000010.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B Revenue, FY2016: 6B Gross profit, FY2016: 2.9B Net income, FY2016: 560M Revenue, FY2017: 6.4B Gross profit, FY2017: 3B Net income, FY2017: -155M Revenue, FY2018: 7.3B Gross profit, FY2018: 3.5B Net income, FY2018: 966M Revenue, FY2019: 7.9B Gross profit, FY2019: 3.9B Net income, FY2019: 868M Revenue, FY2020: 7.4B Gross profit, FY2020: 3.6B Net income, FY2020: 949M Revenue, FY2021: 8.2B Gross profit, FY2021: 4B Net income, FY2021: 1.2B Revenue, FY2022: 9.1B Gross profit, FY2022: 4.2B Net income, FY2022: 1.4B Revenue, FY2023: 10B Gross profit, FY2023: 5B Net income, FY2023: 1.7B Revenue, FY2024: 10.8B Gross profit, FY2024: 5.5B Net income, FY2024: 1.6B Revenue, FY2025: 11.7B Gross profit, FY2025: 6B Net income, FY2025: 2.2B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $6.04B $6.38B $7.34B $7.89B $7.41B $8.17B $9.11B $9.98B $10.82B $11.68B
Gross profit $2.87B $3.02B $3.48B $3.93B $3.61B $4.04B $4.23B $4.97B $5.51B $6.04B
Net income $560.0M -$155.0M $966.0M $868.0M $949.0M $1.25B $1.36B $1.71B $1.58B $2.15B

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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