FirmAtlas
Company handbook · MSI · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-16
MSI · CIK 68505 · LATEST FILING: 10-Q JUL '26 · FILED AUG 5, 2026
MOTOROLA SOLUTIONS, INC.
$463.15
+6.76 (+1.48%)
Close, Oct 16, 2026 · 52-week $359–495
Last fiscal year
MOTOROLA SOLUTIONS, INC. reported revenue of $11.7B for the year ended Dec 31, 2025 (FY25), up 8.0% from FY24. Net income was $2.2B, operating cash flow $2.8B and free cash flow $2.6B. Source: 10-K filed Feb 12, 2026.
Market cap
$76.7B
P/E
36.0
EV/EBITDA
24.8x
P/B
28.7
Div yield
1.05%
ROIC
29.3%
Revenue 1Y
8.0%/yr
EPS 1Y
38.1%/yr
Shares 1Y
−0.8%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOGregory Q. Brown
HQChicago, IL
AuditorPricewaterhouseCoopers LLP
Employees23,000
Year endsDecember
Revenue by segment · FY25
Product And Systems Integration62%
Services And Software38%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
20.2%
14.1%
16.4%
5.9%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$3.3B deployed
Capex
$522M
15.8%
Dividends
$1.4B
41.9%
Buybacks
$1.4B
42.3%
Operating cash flow over the period: $5.2B. Total debt changed by +$3.5B. R&D of $1.9B is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jul '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
10,817
11,682+8.0%
12,236
YoY
+8.0%
Gross profit
5,512
6,035+9.5%
6,362
Gross margin
51.0%
51.7%+0.7 pp
—
Operating income
2,688
2,988+11.2%
3,048
Operating margin
24.8%
25.6%+0.7 pp
—
EBITDA
3,024
3,413+12.9%
—
EBITDA margin
28.0%
29.2%+1.3 pp
—
Interest expense
295
360+22.0%
—
Interest coverage
10.25x
9.48x−0.77x
—
Net income
1,577
2,154+36.6%
2,134
YoY
+36.6%
Net margin
14.6%
18.4%+3.9 pp
—
EPS (diluted, $)
9.23
12.75+38.1%
12.76
YoY
+38.1%
Balance sheet
Total assets
14,595
19,389+32.8%
19,242
Cash & short-term investments
2,102
1,165−44.6%
—
Accounts receivable
1,952
2,200+12.7%
—
Inventory
766
983+28.3%
—
Net PP&E
1,022
1,165+14.0%
—
Other assets
8,753
13,876+58.5%
—
Total liabilities
12,892
16,979+31.7%
16,570
Accounts payable
1,018
1,134+11.4%
—
Total debt
5,675
9,162+61.4%
9,032
Other liabilities
6,199
6,683+7.8%
—
Shareholders’ equity
1,703
2,410+41.5%
2,672
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
2,391
2,837+18.7%
2,974
Net income
1,582
2,160+36.5%
—
Depreciation & amortization
336
425+26.5%
—
Stock-based compensation
243
293+20.6%
—
Working capital & other
230
(41)−117.8%
—
Cash from investing
(507)
(5,164)n/m
—
Capex
(257)
(265)n/m
—
Other investing
(250)
(4,899)n/m
—
Cash from financing
(1,448)
1,309n/m
—
Debt raised
1,288
2,733+112.2%
—
Debt repaid
(1,906)
(322)n/m
—
Dividends
(654)
(728)n/m
—
Buybacks
(244)
(1,154)n/m
—
Shares issued
75
46−38.7%
—
Other financing
(7)
734n/m
—
Net change in cash
397
(937)−336.0%
—
Free cash flow (OCF − capex)
2,134
2,572+20.5%
2,677
Where the cash went
Operating cash flow
2,391
2,837+18.7%
2,974
Reinvested in the business
257
265+3.1%
—
% of operating cash flow
10.7%
9.3%
Capex
257
265+3.1%
297
R&D (memo, already in costs)
917
970+5.8%
—
Free cash flow
2,134
2,572+20.5%
2,677
YoY
+20.5%
Returned to shareholders
898
1,882+109.6%
—
% of free cash flow
42.1%
73.2%
Dividends
654
728+11.3%
—
Buybacks
244
1,154+373.0%
—
Change in total debt
—
3,487
—
Cash left over
—
4,177
—
FCF conversion (FCF ÷ net income)
135.3%
119.4%−15.9 pp
—
Owner earnings
—
1,965
—
Owner earnings margin
—
16.8%
—
Buyback yield
0.3%
1.8%+1.5 pp
—
Returns & ratios
ROIC (all capital)
40.9%
29.3%−11.6 pp
—
ROIC (operating)
79.2%
77.3%−1.9 pp
—
Net debt / EBITDA
1.18x
2.34x+1.16x
—
Debt / equity
3.33x
3.80x+0.47x
—
Cash conversion cycle (days)
49
59+10 d
—
ROE
92.6%
89.4%−3.2 pp
—
ROA
10.8%
11.1%+0.3 pp
—
ROCE
28.2%
22.4%−5.7 pp
—
NOPAT
2,156
2,295+6.4%
—
Invested capital (operating)
2,722
3,214+18.1%
—
Invested capital (all)
5,276
10,407+97.3%
—
Reinvestment rate
—
21.4%
—
Debtor days
66
69+3 d
—
Inventory days
53
64+11 d
—
Days payable
70
73+3 d
—
Income
Sep '25
Dec '25
Apr '26
Jul '26
Revenue
3,009
3,380
2,714
3,133
vs year-ago quarter
Gross profit
1,554
1,768
1,362
1,678
Gross margin
51.6%
52.3%
50.2%
53.6%
Operating income
770
944
525
809
Net income
562
649
366
557
vs year-ago quarter
Net margin
18.7%
19.2%
13.5%
17.8%
EPS (diluted, $)
3.33
3.92
2.18
3.33
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Apr '26
Jul '26
Total assets
18,799
19,389
19,080
19,242
Cash & equivalents
894
1,165
886
710
Total debt
9,339
9,162
8,965
9,032
Shareholders’ equity
2,327
2,410
2,544
2,672
Cash flow
Sep '25
Dec '25
Apr '26
Jul '26
Operating cash flow
798
1,256
451
469
Capex
66
114
62
55
Free cash flow
732
1,142
389
414
vs year-ago quarter