Motorola Solutions, Inc.
MSI Technology Communication Equipment
Motorola Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.7 billion, up 8.00% from fiscal 2024. In the quarter to June 2026, revenue grew 13.3%, EPS grew 9.09%, free cash flow grew 84.0% and total debt rose 16.8%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five, operating cash flow growth for three.
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Motorola Solutions, Inc. (MSI) Altman Z-score
Motorola Solutions, Inc.'s Altman Z-score for fiscal 2025 is 3.57, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 3.57 | (1.71) |
| FY2024 | 5.28 | 1.30 |
| FY2023 | 3.98 | 0.58 |
| FY2022 | 3.39 | (0.28) |
| FY2021 | 3.67 | 0.81 |
| FY2020 | 2.86 | (0.04) |
| FY2019 | 2.90 | 0.32 |
| FY2018 | 2.58 | 0.17 |
| FY2017 | 2.41 | 0.09 |
| FY2016 | 2.32 | (0.36) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.01 | — | 0.01 | |
| Retained earnings / total assets | 0.13 | — | 0.18 | |
| EBIT / total assets | 0.15 | — | 0.51 | |
| Market value of equity / total liabilities | 3.76 | — | 2.26 | |
| Sales / total assets | 0.60 | — | 0.60 | |
| Altman Z-score | Safe zone | 3.57 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.69 | ||
Z and Z″ put Motorola Solutions, Inc. in different zones: safe zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| UI Ubiquiti Inc. compare | 30.4× |
| LITE Lumentum Holdings Inc. compare | 13.9× |
| CIEN Ciena Corporation compare | 5.8× |
| ASTS AST SpaceMobile, Inc. compare | 4.4× |
| MSI Motorola Solutions, Inc. | 3.6× |
| ZBRA Zebra Technologies Corporation compare | 3.3× |
| ERIC Ericsson compare | 2.9× |
| NOK Nokia Corporation compare | 2.0× |
| HPE Hewlett Packard Enterprise Company compare | 0.8× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on MSI
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement