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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.

463.15 6.76 +1.48%
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 (above 2: weak)
P/E ratio 36.07 (above 35: high)
Fwd P/E 30.90
P/S ratio 6.28
P/B ratio 28.57 (above 6: high)
Past 5Y EPS Growth 18.53% (at or above 15%: strong)
This Y EPS Growth 15.15% (at or above 15%: strong)
Next Y EPS Growth 8.29%
Next Y revenue growth 11.48% (at or above 10%: strong)
Next 5Y EPS Growth 11.34%

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.0×, against a ten-year median of 4.8×; over the ten years it ranged from 2.6× in 2016 to 8.3× in 2024.
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Motorola Solutions, Inc. vs peers in Communication Equipment (Q) = latest quarter vs a year earlier

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 →

MSI metrics, ten years each

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.

Source: company filings (standardised) and stockrow calculations.

Motorola Solutions, Inc. (MSI) Latest News

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stockrow.com/MSI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com