Saturday 17 October 2026 Export MSI’s income statement to Excel — free account

Motorola Solutions, Inc.

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.

463.15 6.76 +1.48%

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Market cap: $75.5B
P/E: 36.1×
Fwd P/E: 30.9×
Dividend yield: 1.05%
F-score: 6/9
Altman Z: 3.57
Beneish M: −2.44
Dividend safety: 85/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 86.93

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	6	1	—	—	—	—	3	1	—

Insider Ownership 0.57%

Capital & Financial Ratios $m

Market Cap 75,530.00

Revenue 12,236.00

Net Income 2,139.00

Free Cash Flow 2,678.00

Net Debt 8,322.00

Current Ratio 1.10

Debt/Equity 3.36

P/E ratio 36.07

Fwd P/E 30.90

P/S ratio 6.28

P/B ratio 28.57

Past 5Y EPS Growth 18.53%

This Y EPS Growth 15.15%

Next Y EPS Growth 8.29%

Next Y revenue growth 11.48%

Next 5Y EPS Growth 11.34%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 82.87%

10-year low 10-year high

P/S against its own 10 years 86.58%

10-year low 10-year high

P/B against its own 10 years 17.77%

10-year low 10-year high

EV/Sales against its own 10 years 90.05%

10-year low 10-year high

EV/FCF against its own 10 years 69.63%

10-year low 10-year high

Dividends

Payout Ratio 0.38

Annual Dividend Rate 4.84

Annual Dividend Yield 1.05%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	4.83	1.21 1.21 1.21
2025	4.48	1.09 1.09 1.09 1.21
2024	4.03	0.98 0.98 0.98 1.09
2023	3.62	0.88 0.88 0.88 0.98
2022	3.25	0.79 0.79 0.79 0.88
2021	2.92	0.71 0.71 0.71 0.79
2020	2.63	0.64 0.64 0.64 0.71
2019	2.35	0.57 0.57 0.57 0.64
2018	2.13	0.52 0.52 0.52 0.57
2017	1.93	0.47 0.47 0.47 0.52
2016	1.70	0.41 0.41 0.41 0.47

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,705	2,102	1,165	710
Receivables	1,710	1,952	2,200	2,160
Inventory	827	766	983	1,333
Other	1,483	1,659	1,952	1,929
	5,725	6,479	6,300	6,132

	2023	2024	2025	Q'26
Payables	881	1,018	1,134	957
ST’ Debt	1,313	322	749	615
Other	2,038	2,072	2,265	2,341
	5,736	5,055	6,078	5,579

Compound Annual Growth %

	10y	5y	3y
Sales	7.45%	9.52%	8.63%
Cash Flow	10.76%	11.96%	15.88%
Earnings	13.45%	17.81%	16.48%
Book Value	0.00%	0.00%	164.61%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2,714	3,133	—	—	—
’25	2,528	2,765	3,009	3,380	11,682
’24	2,389	2,628	2,790	3,010	10,817
’23	2,171	2,403	2,556	2,848	9,978
’22	1,892	2,140	2,373	2,707	9,112
’21	1,773	1,971	2,107	2,320	8,171
’20	1,655	1,618	1,868	2,273	7,414

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	451	469	—	—	—
’25	510	273	798	1,256	2,837
’24	382	180	759	1,070	2,391
’23	(8)	93	714	1,245	2,044
’22	152	10	388	1,273	1,823
’21	370	388	376	703	1,837
’20	308	209	392	704	1,613

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	390	414	—	—	—
’25	473	225	732	1,142	2,572
’24	336	112	702	984	2,134
’23	(62)	40	649	1,164	1,791
’22	98	(49)	318	1,200	1,567
’21	318	332	315	635	1,600
’20	316	155	343	638	1,452

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	2.18	3.33	—	—	—
’25	2.53	3.04	3.33	3.86	12.75
’24	(0.23)	2.60	3.29	3.56	9.23
’23	1.61	2.15	2.70	3.47	9.93
’22	1.54	1.33	1.63	3.43	7.93
’21	1.41	1.69	1.76	2.30	7.17
’20	1.12	0.78	1.18	2.37	5.45

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	59.13	76.92	89.18	110.61	120.77	165.60	195.18	251.00	307.31	359.36	Analyst estimates 2026–2028 Powerpack
	High	87.55	95.30	133.97	182.28	187.49	273.65	275.16	329.83	507.82	492.22
People
People	Employees	14,000	15,000	16,000	17,000	18,000	18,700	20,000	21,000	21,000	23,000
	Revenue/emp, $m	0.43	0.43	0.46	0.46	0.41	0.44	0.46	0.48	0.52	0.51
Income, $m
Income, $m	Revenue	6,038	6,380	7,343	7,887	7,414	8,171	9,112	9,978	10,817	11,682
	Gross margin, %	47.52	47.40	47.39	49.84	48.66	49.44	46.41	49.81	50.96	51.66
	EBT	844	1,076	1,102	1,001	1,174	1,552	1,515	2,146	1,972	2,812
	EBT margin, %	13.98	16.87	15.01	12.69	15.83	18.99	16.63	21.51	18.23	24.07
	Net income	560	(155)	969	871	953	1,250	1,367	1,714	1,582	2,160
	Depreciation	295	343	360	394	409	438	440	356	336	425
Per share, $
Per share, $	Revenue	35.60	39.17	45.22	47.34	43.61	48.29	54.40	59.75	64.85	70.12
	Earnings	3.30	(0.95)	5.95	5.21	5.58	7.36	8.14	10.23	9.45	12.93
	Cash flow	6.87	8.26	6.62	10.94	9.49	10.86	10.88	12.24	14.33	17.03
	Capex	(1.17)	(1.39)	(1.21)	(1.45)	(0.95)	(1.40)	(1.53)	(1.51)	(1.54)	(1.59)
	Free cash flow	5.70	6.87	5.41	9.50	8.54	9.46	9.36	10.72	12.79	15.44
	Book value	(5.61)	(10.60)	(7.86)	(4.10)	(3.18)	(0.14)	0.78	4.43	10.31	14.57
	Shares, m	170	163	162	167	170	169	168	167	167	167
Valuation, ×
Valuation, ×	P/E	25.03	0.00	19.37	30.99	30.48	36.92	31.62	30.46	48.97	29.65
	P/S	2.35	2.31	2.54	3.40	3.90	5.63	4.73	5.22	7.13	5.47
	P/B	0.00	0.00	0.00	0.00	0.00	0.00	329.12	70.42	44.85	26.31
	EV/Sales	2.91	2.81	3.10	3.93	4.43	6.09	5.25	5.65	7.49	6.15
	EV/FCF	18.14	16.04	25.91	19.58	22.61	31.12	30.51	31.47	37.95	27.94
Cash, $m
Cash, $m	Operating cash flow	1,165	1,346	1,075	1,823	1,613	1,837	1,823	2,044	2,391	2,837
	Capex	(198)	(227)	(197)	(241)	(161)	(237)	(256)	(253)	(257)	(265)
	Free cash flow	967	1,119	878	1,582	1,452	1,600	1,567	1,791	2,134	2,572
Balance, $m
Balance, $m	Working capital	800	1,019	1,176	739	838	1,349	695	(11)	1,424	222
	Total debt	4,396	4,471	5,320	5,129	5,175	5,693	6,014	6,018	5,997	9,162
	Net debt	3,366	3,203	4,063	4,128	3,921	3,819	4,689	4,313	3,895	7,997
	Shareholders’ equity	(952)	(1,727)	(1,276)	(683)	(541)	(23)	131	739	1,719	2,427
Returns, %
Returns, %	ROA	6.66	(1.86)	10.97	8.66	8.82	10.80	10.90	13.07	11.29	12.68
	ROIC	27.13	54.37	28.14	28.68	25.57	27.45	21.54	28.38	29.93	17.92
	ROE	(106.87)	11.57	(64.34)	(88.62)	(155.07)	(441.49)	2,524.07	392.87	128.32	103.91

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LITE Lumentum Holdings Inc.	$78.8B	— (loss-making)	54.3×	+109.34% (above 0%: growing)	n/m	+1,870.30% (above 0%: growing)	47.43%	27.76%	Compare
HPE Hewlett Packard Enterprise Company	$77.8B	27.4×	22.3×	+33.68% (above 0%: growing)	+438.10% (above 0%: growing)	+20.63% (above 0%: growing)	40.11%	11.41%	Compare
MSI Motorola Solutions, Inc.	$75.5B	36.1×	30.9×	+13.31% (above 0%: growing)	+9.09% (above 0%: growing)	+84.00% (above 0%: growing)	53.56%	25.82%
NOK Nokia Corporation	$54.2B	4.9×	—	+8.48% (above 0%: growing)	n/m	−624.57% (below 0%: shrinking)	44.57%	(1.04%)	Compare
CIEN Ciena Corporation	$50.6B	72.0×	94.0×	+37.05% (above 0%: growing)	+437.14% (above 0%: growing)	−13.59% (below 0%: shrinking)	45.43%	18.02%	Compare
UI Ubiquiti Inc.	$37.4B	37.8×	30.7×	+23.47% (above 0%: growing)	+6.80% (above 0%: growing)	+134.17% (above 0%: growing)	45.80%	36.27%	Compare
ERIC Ericsson	$32.6B	13.6×	—	−3.14% (below 0%: shrinking)	−7.14% (below 0%: shrinking)	−89.23% (below 0%: shrinking)	45.78%	11.24%	Compare
ZBRA Zebra Technologies Corporation	$17.9B	33.5×	18.8×	+20.42% (above 0%: growing)	+122.27% (above 0%: growing)	+52.31% (above 0%: growing)	52.99%	20.62%	Compare
ASTS AST SpaceMobile, Inc.	$17.3B	— (loss-making)	— (loss-making)	+2,626.64% (above 0%: growing)	n/m	−103.37% (below 0%: shrinking)	25.23%	(944.09%)	Compare
Median of peers	$44.0B	30.5×	30.7×	+28.58%	+122.27%	+3.52%	45.60%	14.72%

All 47 Communication Equipment stocks →

Motorola Solutions, Inc. (MSI) key facts

Strength: Motorola Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $11.7 billion, up 8.00% from fiscal 2024.
Strength: Net income was $2.2 billion, or $12.93 per share (basic), a net margin of 18.4%.
Motorola Solutions, Inc. (MSI) is a Communication Equipment company in the Technology sector, listed on the New York Stock Exchange.
As of October 16, 2026, MSI traded at $463.15, a market capitalization of $75.5 billion.
At that price the stock trades at 36.1× trailing-twelve-month earnings and 6.3× sales; its P/E is higher than 83% of its own readings over the past ten years.
Motorola Solutions, Inc. pays an annual dividend of $4.84 per share, a yield of 1.05%, with a payout ratio of 38.1%.
Return on equity was 103.9% and debt-to-equity 3.36.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 3.57 (safe zone) for fiscal 2025.