Motorola Solutions (MSI) Financials

$437.08 -1.90 (-0.43%)

Closing price 08/1/2025 03:59 PM Eastern

Extended Trading

$435.24 -1.84 (-0.42%)

As of 08/1/2025 06:51 PM Eastern

Annual Income Statements for Motorola Solutions

This table shows Motorola Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	610	560	-155	966	868	949	1,245	1,363	1,709	1,577
Consolidated Net Income / (Loss)	613	562	-151	969	871	953	1,250	1,367	1,714	1,582
Net Income / (Loss) Continuing Operations	643	562	-151	969	871	953	1,250	1,367	1,714	1,582
Total Pre-Tax Income	917	844	1,076	1,102	1,001	1,174	1,552	1,515	2,146	1,972
Total Operating Income	994	1,048	1,284	1,255	1,581	1,383	1,667	1,661	2,294	2,688
Total Gross Profit	2,719	2,869	3,024	3,480	3,931	3,608	4,040	4,229	4,970	5,512
Total Revenue	5,695	6,038	6,380	7,343	7,887	7,414	8,171	9,112	9,978	10,817
Operating Revenue	5,695	6,038	6,380	7,343	7,887	7,414	8,171	9,112	9,978	10,817
Total Cost of Revenue	2,976	3,169	3,356	3,863	3,956	3,806	4,131	4,883	5,008	5,305
Operating Cost of Revenue	2,976	3,169	3,356	3,863	3,956	3,806	4,131	4,883	5,008	5,305
Total Operating Expenses	1,725	1,821	1,740	2,225	2,350	2,225	2,373	2,568	2,676	2,824
Selling, General & Admin Expense	1,105	1,044	1,025	1,254	1,403	1,293	1,353	1,450	1,561	1,752
Research & Development Expense	620	553	568	637	687	686	734	779	858	917
Other Operating Expenses / (Income)	-	224	147	334	260	246	286	339	257	155
Total Other Income / (Expense), net	-77	-204	-208	-153	-580	-209	-115	-146	-148	-716
Interest Expense	-	-	-	-	-	-	-	226	216	227
Interest & Investment Income	-173	-211	-198	-206	-220	-222	-207	3.00	0.00	0.00
Other Income / (Expense), net	96	7.00	-10	53	-360	13	92	77	68	-489
Income Tax Expense	274	282	1,227	133	130	221	302	148	432	390
Net Income / (Loss) Attributable to Noncontrolling Interest	3.00	2.00	4.00	3.00	3.00	4.00	5.00	4.00	5.00	5.00
Basic Earnings per Share	$3.06	-	($0.95)	$5.95	$5.21	$5.58	$7.36	$8.14	$10.23	$9.45
Weighted Average Basic Shares Outstanding	199.60M	169.60M	162.90M	162.40M	166.60M	170M	169.20M	167.50M	167M	166.80M
Diluted Earnings per Share	$3.02	-	($0.95)	$5.62	$4.95	$5.45	$7.17	$7.93	$9.93	$9.23
Weighted Average Diluted Shares Outstanding	201.80M	173.10M	162.90M	172M	175.60M	174.10M	173.60M	171.90M	172.10M	170.80M
Weighted Average Basic & Diluted Shares Outstanding	199.30M	169.70M	163.20M	163.87M	170.58M	169.03M	168.21M	167.25M	166.13M	166.94M
Cash Dividends to Common per Share	$1.43	$1.70	$1.93	$2.13	$2.35	$2.63	$2.92	$3.25	$3.62	$4.03

This table shows Motorola Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	10/1/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024	3/29/2025
Net Income / (Loss) Attributable to Common Shareholders	279	589	278	371	464	596	-39	443	562	611	430
Consolidated Net Income / (Loss)	280	590	279	373	465	597	-38	445	563	612	432
Net Income / (Loss) Continuing Operations	280	590	279	373	465	597	-38	445	563	612	432
Total Pre-Tax Income	333	663	358	487	592	709	-90	580	695	787	547
Total Operating Income	373	691	399	518	639	738	519	644	711	814	582
Total Gross Profit	1,031	1,351	1,046	1,189	1,280	1,455	1,192	1,339	1,433	1,548	1,300
Total Revenue	2,373	2,707	2,171	2,403	2,556	2,848	2,389	2,628	2,790	3,010	2,528
Operating Revenue	2,373	2,707	2,171	2,403	2,556	2,848	2,389	2,628	2,790	3,010	2,528
Total Cost of Revenue	1,342	1,356	1,125	1,214	1,276	1,393	1,197	1,289	1,357	1,462	1,228
Operating Cost of Revenue	1,342	1,356	1,125	1,214	1,276	1,393	1,197	1,289	1,357	1,462	1,228
Total Operating Expenses	658	660	647	671	641	717	673	695	722	734	718
Selling, General & Admin Expense	378	378	368	390	380	423	397	430	439	486	436
Research & Development Expense	197	203	210	215	215	218	218	220	234	245	233
Other Operating Expenses / (Income)	83	79	69	66	46	76	58	45	49	3.00	49
Total Other Income / (Expense), net	-40	-28	-41	-31	-47	-29	-609	-64	-16	-27	-35
Interest Expense	-	-	-	-	53	-	-	-	58	-	51
Other Income / (Expense), net	19	26	12	26	7.00	23	-565	5.00	42	29	16
Income Tax Expense	53	73	79	114	127	112	-52	135	132	175	115
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	1.00	1.00	2.00	1.00	1.00	1.00	2.00	1.00	1.00	2.00
Basic Earnings per Share	$1.67	$3.52	$1.66	$2.21	$2.78	$3.58	($0.23)	$2.65	$3.36	$3.67	$2.58
Weighted Average Basic Shares Outstanding	167.20M	167.50M	167.40M	167.50M	166.70M	167M	166.30M	166.90M	167.10M	166.80M	166.90M
Diluted Earnings per Share	$1.63	$3.43	$1.61	$2.15	$2.70	$3.47	($0.23)	$2.60	$3.29	$3.57	$2.53
Weighted Average Diluted Shares Outstanding	171.50M	171.90M	172.60M	172.60M	171.70M	172.10M	166.30M	170.30M	170.90M	170.80M	169.80M
Weighted Average Basic & Diluted Shares Outstanding	167.20M	167.25M	167.72M	167.02M	165.97M	166.13M	166.79M	166.84M	167.12M	166.94M	166.92M
Cash Dividends to Common per Share	$0.79	$0.88	$0.88	$0.88	$0.88	$0.98	$0.98	$0.98	$0.98	$1.09	$1.09

This table details how cash moves in and out of Motorola Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-1,974	-950	238	-11	-256	253	620	-549	380	397
Net Cash From Operating Activities	1,021	1,165	1,346	1,075	1,823	1,613	1,837	1,823	2,044	2,391
Net Cash From Continuing Operating Activities	1,021	1,165	1,346	1,075	1,777	1,613	1,837	1,823	2,044	2,391
Net Income / (Loss) Continuing Operations	643	562	-151	969	871	953	1,250	1,367	1,714	1,582
Consolidated Net Income / (Loss)	613	562	-151	969	871	953	1,250	1,367	1,714	1,582
Depreciation Expense	150	295	343	360	394	409	438	440	356	336
Non-Cash Adjustments To Reconcile Net Income	-9.00	-35	-16	-144	477	431	149	345	70	598
Changes in Operating Assets and Liabilities, net	237	343	1,170	-110	35	-180	0.00	-329	-96	-125
Net Cash From Investing Activities	-528	-1,002	-448	-1,266	-934	-437	-742	-1,387	-414	-507
Net Cash From Continuing Investing Activities	-528	-1,002	-448	-1,266	-934	-437	-742	-1,387	-414	-507
Purchase of Property, Plant & Equipment	-175	-271	-227	-197	-248	-217	-243	-256	-253	-257
Purchase of Investments	-586	-1,474	-404	-1,164	-709	-287	-521	-1,177	-180	-290
Sale and/or Maturity of Investments	230	670	183	95	16	11	16	46	19	40
Net Cash From Financing Activities	-2,398	-1,042	-722	220	-1,144	-966	-429	-906	-1,295	-1,448
Net Cash From Continuing Financing Activities	-2,398	-1,042	-722	220	-1,144	-966	-429	-906	-1,295	-1,448
Repayment of Debt	-4.00	-686	-21	-892	-2,365	-1,714	-360	-285	-1.00	-1,906
Payment of Dividends	-277	-280	-308	-338	-382	-440	-487	-536	-594	-658
Issuance of Debt	971	673	10	1,490	1,804	1,692	844	595	0.00	1,288
Issuance of Common Equity	84	93	82	168	114	108	102	156	104	75
Other Financing Activities, net	5.00	0.00	-2.00	-76	-	-	-	-836	-804	-247
Other Net Changes in Cash	-	-71	62	-	-1.00	43	-	-	45	-39
Cash Interest Paid	163	191	176	204	221	217	207	226	234	253
Cash Income Taxes Paid	105	66	122	119	138	181	257	307	587	627

This table details how cash moves in and out of Motorola Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	10/1/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024	3/29/2025
Net Change in Cash & Equivalents	105	503	-303	-312	200	795	-193	-131	23	698	-538
Net Cash From Operating Activities	388	1,273	-8.00	93	714	1,245	382	180	759	1,070	510
Net Cash From Continuing Operating Activities	388	1,273	-8.00	93	714	1,245	382	180	759	1,070	510
Net Income / (Loss) Continuing Operations	280	590	279	373	465	597	-38	445	563	612	432
Consolidated Net Income / (Loss)	280	590	279	373	465	597	-38	445	563	612	432
Depreciation Expense	108	109	98	87	86	85	83	83	84	86	81
Non-Cash Adjustments To Reconcile Net Income	91	44	240	-137	-89	56	757	-95	115	-179	73
Changes in Operating Assets and Liabilities, net	-91	530	-625	-230	252	507	-420	-253	-3.00	551	-76
Net Cash From Investing Activities	-62	-652	-53	-58	-61	-242	-47	-71	-282	-107	-477
Net Cash From Continuing Investing Activities	-62	-652	-53	-58	-61	-242	-47	-71	-282	-107	-477
Purchase of Property, Plant & Equipment	-70	-73	-54	-53	-65	-81	-46	-68	-57	-86	-37
Purchase of Investments	-19	-587	-4.00	-6.00	-2.00	-168	-37	-5.00	-226	-22	-450
Sale and/or Maturity of Investments	27	8.00	5.00	1.00	6.00	7.00	36	2.00	1.00	1.00	10
Net Cash From Financing Activities	-140	-202	-263	-366	-414	-252	-512	-231	-491	-214	-597
Net Cash From Continuing Financing Activities	-140	-202	-263	-366	-414	-252	-512	-231	-491	-214	-597
Repayment of Debt	-	-2.00	0.00	-1.00	-	-	-1,593	-	-313	-	0.00
Repurchase of Common Equity	-94	-	-140	-224	-306	-	-39	-71	-31	-	-325
Payment of Dividends	-132	-132	-149	-151	-148	-146	-163	-166	-165	-164	-182
Issuance of Debt	-	-	0.00	-	-	-	1,288	-	-	-	0.00
Other Financing Activities, net	-	-	-	-	-	-	-	-	-	-	-90
Effect of Exchange Rate Changes	-	-	-	-	-	-	-	-	-	-	26
Cash Interest Paid	48	69	47	70	48	69	36	71	36	110	29
Cash Income Taxes Paid	69	37	100	305	72	110	26	324	103	174	39

This table presents Motorola Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	8,346	8,463	8,208	9,409	10,642	10,876	12,189	12,814	13,336	14,595
Total Current Assets	4,619	3,468	3,950	4,272	4,178	4,327	5,412	5,255	5,725	6,479
Cash & Equivalents	1,980	967	1,205	1,257	1,001	1,254	1,874	1,325	1,705	2,102
Accounts Receivable	1,362	1,410	1,523	1,293	1,412	1,390	1,386	1,518	1,710	1,952
Inventories, net	296	273	327	356	447	508	788	1,055	827	766
Other Current Assets	954	755	832	1,366	1,318	1,175	1,364	1,357	1,459	1,659
Other Current Nonoperating Assets	27	-	-	-	-	-	-	0.00	24	0.00
Plant, Property, & Equipment, net	487	789	856	895	992	0.00	1,042	927	964	1,022
Total Noncurrent Assets	3,240	4,206	3,402	4,242	5,472	6,549	5,735	6,632	6,647	7,094
Long-Term Investments	231	238	247	169	159	158	209	147	143	135
Goodwill	420	728	938	1,514	2,067	2,219	2,565	3,312	3,401	3,526
Intangible Assets	-	821	861	1,230	1,327	1,234	1,105	1,342	1,255	1,249
Noncurrent Deferred & Refundable Income Taxes	2,278	2,219	1,023	985	943	966	916	1,036	1,062	1,280
Other Noncurrent Operating Assets	271	200	333	344	976	1,972	940	795	769	904
Other Noncurrent Nonoperating Assets	40	-	-	-	-	-	-	0.00	17	0.00
Total Liabilities & Shareholders' Equity	8,346	8,463	8,208	9,409	10,642	10,876	12,189	12,814	13,336	14,595
Total Liabilities	8,442	9,415	9,935	10,685	11,325	11,417	12,212	12,683	12,597	12,876
Total Current Liabilities	2,193	2,668	2,931	3,096	3,439	3,489	4,063	4,560	5,736	5,055
Short-Term Debt	4.00	4.00	52	31	16	12	5.00	1.00	1,313	322
Accounts Payable	518	553	593	592	618	612	851	1,062	881	1,018
Accrued Expenses	1,671	2,111	2,286	1,210	1,356	1,311	1,557	1,638	1,504	1,643
Other Current Liabilities	-	-	0.00	1,263	1,449	1,554	1,650	1,859	2,037	2,072
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	0.00	1.00	0.00
Total Noncurrent Liabilities	6,249	6,747	7,004	7,589	7,886	7,928	8,149	8,123	6,861	7,821
Long-Term Debt	4,345	4,392	4,419	5,289	5,113	5,163	5,688	6,013	4,705	5,675
Other Noncurrent Operating Liabilities	1,904	2,355	2,585	2,300	2,773	2,765	2,461	2,110	2,148	2,146
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	0.00	8.00	0.00
Total Equity & Noncontrolling Interests	-96	-952	-1,727	-1,276	-683	-541	-23	131	739	1,719
Total Preferred & Common Equity	-106	-964	-1,742	-1,293	-700	-558	-40	116	724	1,703
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-106	-964	-1,742	-1,293	-700	-558	-40	116	724	1,703
Common Stock	44	205	353	421	501	761	989	1,308	1,624	1,942
Retained Earnings	1,716	1,148	467	1,051	1,239	1,127	1,350	1,343	1,640	2,300
Accumulated Other Comprehensive Income / (Loss)	-1,866	-2,317	-2,562	-2,765	-2,440	-2,446	-2,379	-2,535	-2,540	-2,539
Noncontrolling Interest	10	12	15	17	17	17	17	15	15	16

This table presents Motorola Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	10/1/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024	3/29/2025
Total Assets	11,625	12,814	12,353	12,252	12,436	13,336	13,326	13,345	13,889	14,595	14,433
Total Current Assets	4,707	5,255	4,826	4,626	5,032	5,725	5,521	5,571	5,808	6,479	5,899
Cash & Equivalents	822	1,325	1,022	710	910	1,705	1,512	1,381	1,404	2,102	1,564
Accounts Receivable	1,368	1,518	1,340	1,513	1,667	1,710	1,592	1,762	1,848	1,952	1,770
Inventories, net	1,157	1,055	1,082	1,020	959	827	840	803	816	766	833
Other Current Assets	1,360	1,357	1,382	1,383	1,496	1,459	1,577	1,625	1,740	1,659	1,732
Plant, Property, & Equipment, net	866	927	927	935	931	964	957	987	1,024	1,022	1,039
Total Noncurrent Assets	6,052	6,632	6,600	6,691	6,473	6,647	6,848	6,787	7,057	7,094	7,495
Long-Term Investments	146	147	144	162	142	143	141	127	140	135	161
Goodwill	2,851	3,312	3,287	3,295	3,278	3,401	3,410	3,400	3,523	3,526	3,841
Intangible Assets	1,177	1,342	1,302	1,261	1,217	1,255	1,232	1,208	1,295	1,249	1,353
Noncurrent Deferred & Refundable Income Taxes	988	1,036	1,073	1,172	1,047	1,062	1,244	1,225	1,214	1,280	1,236
Other Noncurrent Operating Assets	890	795	794	801	789	769	821	827	885	904	904
Total Liabilities & Shareholders' Equity	11,625	12,814	12,353	12,252	12,436	13,336	13,326	13,345	13,889	14,595	14,433
Total Liabilities	12,019	12,683	12,104	11,901	12,060	12,597	12,789	12,528	12,548	12,876	12,774
Total Current Liabilities	3,768	4,560	3,966	3,766	5,288	5,736	4,626	4,644	4,665	5,055	4,922
Short-Term Debt	1.00	1.00	1.00	0.00	1,313	1,313	313	565	322	322	322
Accounts Payable	885	1,062	719	676	722	881	822	861	872	1,018	845
Accrued Expenses	1,333	1,638	1,453	1,326	1,355	1,504	1,601	1,366	1,529	1,643	1,772
Other Current Liabilities	1,549	1,859	1,793	1,764	1,898	2,037	1,890	1,852	1,942	2,072	1,983
Total Noncurrent Liabilities	8,251	8,123	8,138	8,135	6,772	6,861	8,163	7,884	7,883	7,821	7,852
Long-Term Debt	6,012	6,013	6,014	6,015	4,704	4,705	5,994	5,743	5,674	5,675	5,677
Other Noncurrent Operating Liabilities	2,239	2,110	2,124	2,120	2,068	2,148	2,169	2,141	2,209	2,146	2,175
Total Equity & Noncontrolling Interests	-394	131	249	351	376	739	537	817	1,341	1,719	1,659
Total Preferred & Common Equity	-408	116	234	337	362	724	521	802	1,326	1,703	1,641
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-408	116	234	337	362	724	521	802	1,326	1,703	1,641
Common Stock	1,241	1,308	1,388	1,451	1,541	1,624	1,675	1,744	1,822	1,942	1,918
Retained Earnings	989	1,343	1,333	1,333	1,326	1,640	1,399	1,607	1,974	2,300	2,223
Accumulated Other Comprehensive Income / (Loss)	-2,638	-2,535	-2,487	-2,447	-2,505	-2,540	-2,553	-2,549	-2,470	-2,539	-2,500
Noncontrolling Interest	14	15	15	14	14	15	16	15	15	16	18

This table displays calculated financial ratios and metrics derived from Motorola Solutions' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.16%	6.02%	5.66%	15.09%	7.41%	-6.00%	10.21%	11.52%	9.50%	8.41%
EBITDA Growth	243.85%	8.87%	19.78%	3.15%	-3.18%	11.76%	21.72%	-0.86%	24.79%	-6.73%
EBIT Growth	205.31%	-3.21%	20.76%	2.67%	-6.65%	14.33%	26.00%	-1.19%	35.90%	-6.90%
NOPAT Growth	198.98%	0.12%	-125.82%	712.43%	24.66%	-18.39%	19.59%	11.63%	22.25%	17.69%
Net Income Growth	-52.85%	-8.32%	-126.87%	741.72%	-10.11%	9.41%	31.16%	9.36%	25.38%	-7.70%
EPS Growth	-42.91%	0.00%	0.00%	691.58%	-11.92%	10.10%	31.56%	10.60%	25.22%	-7.05%
Operating Cash Flow Growth	260.28%	14.10%	15.54%	-20.13%	69.58%	-11.52%	13.89%	-0.76%	12.12%	16.98%
Free Cash Flow Firm Growth	143.89%	-19.60%	54.34%	-137.23%	347.90%	67.68%	-17.62%	-57.78%	294.49%	-4.53%
Invested Capital Growth	4.17%	10.18%	-43.52%	113.02%	25.52%	-1.95%	11.33%	30.28%	4.37%	12.34%
Revenue Q/Q Growth	-2.43%	3.44%	1.17%	4.20%	1.58%	-1.37%	0.58%	4.44%	1.43%	1.52%
EBITDA Q/Q Growth	277.91%	-3.36%	8.16%	1.03%	-13.91%	22.29%	-0.05%	6.97%	0.74%	3.39%
EBIT Q/Q Growth	227.93%	-7.46%	9.26%	1.00%	-18.22%	30.22%	-0.28%	9.17%	1.90%	3.87%
NOPAT Q/Q Growth	216.59%	-4.67%	-122.58%	3,599.76%	10.49%	-14.72%	-0.83%	14.63%	0.31%	-0.21%
Net Income Q/Q Growth	14.79%	-6.02%	-122.64%	3,560.71%	-17.13%	21.71%	-0.79%	15.85%	0.41%	0.96%
EPS Q/Q Growth	17.05%	0.00%	0.00%	2,261.54%	-17.50%	21.65%	-0.83%	16.45%	0.40%	1.10%
Operating Cash Flow Q/Q Growth	2,368.89%	9.29%	22.59%	4.98%	-0.92%	-5.34%	-0.05%	45.49%	-1.35%	-6.82%
Free Cash Flow Firm Q/Q Growth	1,366.38%	330.01%	30.43%	19.71%	-22.15%	-0.23%	-21.72%	76.03%	43.27%	-9.05%
Invested Capital Q/Q Growth	29.25%	-12.12%	-54.24%	-13.02%	-1.79%	-7.23%	0.25%	0.47%	-8.69%	-5.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	47.74%	47.52%	47.40%	47.39%	49.84%	48.66%	49.44%	46.41%	49.81%	50.96%
EBITDA Margin	21.77%	22.36%	25.34%	22.72%	20.48%	24.35%	26.89%	23.90%	27.24%	23.44%
Operating Margin	17.45%	17.36%	20.13%	17.09%	20.05%	18.65%	20.40%	18.23%	22.99%	24.85%
EBIT Margin	19.14%	17.47%	19.97%	17.81%	15.48%	18.83%	21.53%	19.07%	23.67%	20.33%
Profit (Net Income) Margin	10.76%	9.31%	-2.37%	13.20%	11.04%	12.85%	15.30%	15.00%	17.18%	14.63%
Tax Burden Percent	66.85%	66.59%	-14.03%	87.93%	87.01%	81.18%	80.54%	90.23%	79.87%	80.22%
Interest Burden Percent	84.13%	80.00%	84.46%	84.25%	81.98%	84.10%	88.23%	87.17%	90.86%	89.68%
Effective Tax Rate	29.88%	33.41%	114.03%	12.07%	12.99%	18.82%	19.46%	9.77%	20.13%	19.78%
Return on Invested Capital (ROIC)	36.01%	33.62%	-10.58%	57.37%	46.60%	34.50%	39.44%	36.29%	38.37%	41.65%
ROIC Less NNEP Spread (ROIC-NNEP)	22.02%	28.40%	-9.62%	53.44%	33.76%	30.11%	36.92%	33.06%	35.65%	27.10%
Return on Net Nonoperating Assets (RNNOA)	9.91%	-140.87%	21.86%	-121.91%	-135.52%	-190.22%	-482.70%	2,495.19%	355.65%	87.08%
Return on Equity (ROE)	45.92%	-107.25%	11.27%	-64.54%	-88.92%	-155.72%	-443.26%	2,531.48%	394.02%	128.72%
Cash Return on Invested Capital (CROIC)	31.93%	23.94%	45.04%	-14.84%	23.97%	36.47%	28.72%	9.99%	34.10%	30.02%
Operating Return on Assets (OROA)	11.61%	12.55%	15.28%	14.85%	12.18%	12.98%	15.25%	13.90%	18.07%	15.75%
Return on Assets (ROA)	6.53%	6.69%	-1.81%	11.00%	8.69%	8.86%	10.84%	10.93%	13.11%	11.33%
Return on Common Equity (ROCE)	45.21%	-109.50%	11.39%	-65.22%	-90.47%	-160.04%	-469.98%	1,781.41%	380.44%	127.10%
Return on Equity Simple (ROE_SIMPLE)	-578.30%	-58.30%	8.67%	-74.94%	-124.43%	-170.79%	-3,125.00%	1,178.45%	236.74%	92.89%
Net Operating Profit after Tax (NOPAT)	697	698	-180	1,104	1,376	1,123	1,343	1,499	1,832	2,156
NOPAT Margin	12.24%	11.56%	-2.82%	15.03%	17.44%	15.14%	16.43%	16.45%	18.36%	19.94%
Net Nonoperating Expense Percent (NNEP)	13.99%	5.23%	-0.96%	3.93%	12.84%	4.39%	2.51%	3.23%	2.72%	14.55%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	24.39%	27.12%	27.95%
Cost of Revenue to Revenue	52.26%	52.48%	52.60%	52.61%	50.16%	51.34%	50.56%	53.59%	50.19%	49.04%
SG&A Expenses to Revenue	19.40%	17.29%	16.07%	17.08%	17.79%	17.44%	16.56%	15.91%	15.64%	16.20%
R&D to Revenue	10.89%	9.16%	8.90%	8.67%	8.71%	9.25%	8.98%	8.55%	8.60%	8.48%
Operating Expenses to Revenue	30.29%	30.16%	27.27%	30.30%	29.80%	30.01%	29.04%	28.18%	26.82%	26.11%
Earnings before Interest and Taxes (EBIT)	1,090	1,055	1,274	1,308	1,221	1,396	1,759	1,738	2,362	2,199
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,240	1,350	1,617	1,668	1,615	1,805	2,197	2,178	2,718	2,535
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	363.13	71.06	45.36
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.84	2.03	2.09	2.37	3.29	3.72	5.44	4.62	5.16	7.14
Price to Earnings (P/E)	17.22	21.84	0.00	18.02	29.88	29.03	35.69	30.90	30.10	48.98
Dividend Yield	2.40%	2.31%	2.35%	2.00%	1.55%	1.62%	1.11%	1.29%	1.17%	0.87%
Earnings Yield	5.81%	4.58%	0.00%	5.55%	3.35%	3.44%	2.80%	3.24%	3.32%	2.04%
Enterprise Value to Invested Capital (EV/IC)	6.40	7.06	13.24	8.14	9.11	9.72	13.40	9.99	11.41	14.79
Enterprise Value to Revenue (EV/Rev)	2.22	2.55	2.55	2.90	3.79	4.23	5.88	5.12	5.58	7.49
Enterprise Value to EBITDA (EV/EBITDA)	10.20	11.39	10.06	12.78	18.53	17.36	21.88	21.43	20.47	31.96
Enterprise Value to EBIT (EV/EBIT)	11.60	14.57	12.77	16.30	24.51	22.44	27.33	26.86	23.55	36.85
Enterprise Value to NOPAT (EV/NOPAT)	18.15	22.03	0.00	19.32	21.75	27.91	35.80	31.15	30.36	37.57
Enterprise Value to Operating Cash Flow (EV/OCF)	12.39	13.19	12.09	19.83	16.41	19.42	26.17	25.61	27.22	33.89
Enterprise Value to Free Cash Flow (EV/FCFF)	20.47	30.94	21.22	0.00	42.28	26.40	49.17	113.10	34.17	52.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-45.30	-4.62	-2.59	-4.17	-7.51	-9.57	-247.52	45.91	8.14	3.49
Long-Term Debt to Equity	-45.26	-4.61	-2.56	-4.15	-7.49	-9.54	-247.30	45.90	6.37	3.30
Financial Leverage	0.45	-4.96	-2.27	-2.28	-4.01	-6.32	-13.07	75.48	9.98	3.21
Leverage Ratio	7.03	-16.04	-6.22	-5.87	-10.24	-17.58	-40.90	231.51	30.06	11.36
Compound Leverage Factor	5.91	-12.83	-5.26	-4.94	-8.39	-14.78	-36.08	201.80	27.31	10.19
Debt to Total Capital	102.26%	127.64%	162.94%	131.55%	115.36%	111.67%	100.41%	97.87%	89.06%	77.72%
Short-Term Debt to Total Capital	0.09%	0.12%	1.90%	0.77%	0.36%	0.26%	0.09%	0.02%	19.43%	4.17%
Long-Term Debt to Total Capital	102.16%	127.53%	161.04%	130.79%	115.00%	111.42%	100.32%	97.85%	69.63%	73.55%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.24%	0.35%	0.55%	0.42%	0.38%	0.37%	0.30%	0.24%	0.22%	0.21%
Common Equity to Total Capital	-2.49%	-27.99%	-63.48%	-31.97%	-15.74%	-12.04%	-0.71%	1.89%	10.71%	22.07%
Debt to EBITDA	3.51	3.26	2.77	3.19	3.18	2.87	2.59	2.76	2.21	2.37
Net Debt to EBITDA	1.72	2.32	1.83	2.33	2.46	2.08	1.64	2.09	1.53	1.48
Long-Term Debt to EBITDA	3.50	3.25	2.73	3.17	3.17	2.86	2.59	2.76	1.73	2.24
Debt to NOPAT	6.24	6.30	-24.81	4.82	3.73	4.61	4.24	4.01	3.28	2.78
Net Debt to NOPAT	3.07	4.48	-16.40	3.53	2.89	3.35	2.69	3.03	2.28	1.74
Long-Term Debt to NOPAT	6.23	6.29	-24.52	4.79	3.72	4.60	4.24	4.01	2.57	2.63
Altman Z-Score	2.50	2.21	2.32	2.52	2.74	2.79	3.62	3.36	3.95	5.18
Noncontrolling Interest Sharing Ratio	1.54%	-2.10%	-1.01%	-1.07%	-1.74%	-2.78%	-6.03%	29.63%	3.45%	1.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.11	1.30	1.35	1.38	1.21	1.24	1.33	1.15	1.00	1.28
Quick Ratio	1.52	0.89	0.93	0.82	0.70	0.76	0.80	0.62	0.60	0.80
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	618	497	767	-285	708	1,187	978	413	1,628	1,554
Operating Cash Flow to CapEx	593.60%	588.38%	592.95%	545.69%	756.43%	1,001.86%	775.11%	712.11%	807.91%	930.35%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.83	7.54	6.85
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.07	9.46	10.53
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.93	8.29	9.40
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.61	0.72	0.77	0.83	0.79	0.69	0.71	0.73	0.76	0.77
Accounts Receivable Turnover	4.11	4.36	4.35	5.22	5.83	5.29	5.89	6.28	6.18	5.91
Inventory Turnover	9.29	11.14	11.19	11.31	9.85	7.97	6.38	5.30	5.32	6.66
Fixed Asset Turnover	10.99	9.46	7.76	8.39	8.36	0.00	0.00	9.26	10.55	10.89
Accounts Payable Turnover	5.63	5.92	5.86	6.52	6.54	6.19	5.65	5.11	5.15	5.59
Days Sales Outstanding (DSO)	88.80	83.78	83.90	69.99	62.59	68.97	62.00	58.16	59.04	61.78
Days Inventory Outstanding (DIO)	39.31	32.77	32.63	32.27	37.04	45.79	57.25	68.88	68.58	54.80
Days Payable Outstanding (DPO)	64.88	61.68	62.32	55.98	55.82	58.98	64.63	71.50	70.81	65.33
Cash Conversion Cycle (CCC)	63.23	54.87	54.21	46.27	43.82	55.79	54.62	55.55	56.82	51.26
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,975	2,176	1,229	2,618	3,286	3,222	3,587	4,673	4,877	5,479
Invested Capital Turnover	2.94	2.91	3.75	3.82	2.67	2.28	2.40	2.21	2.09	2.09
Increase / (Decrease) in Invested Capital	79	201	-947	1,389	668	-64	365	1,086	204	602
Enterprise Value (EV)	12,649	15,370	16,275	21,320	29,923	31,329	48,066	46,680	55,630	81,024
Market Capitalization	10,501	12,230	13,304	17,409	25,937	27,549	44,439	42,123	51,445	77,248
Book Value per Share	($0.60)	($5.81)	($10.75)	($7.91)	($4.09)	($3.29)	($0.24)	$0.69	$4.36	$10.19
Tangible Book Value per Share	($2.98)	($15.14)	($21.86)	($24.69)	($23.89)	($23.66)	($21.97)	($27.14)	($23.69)	($18.38)
Total Capital	4,253	3,444	2,744	4,044	4,446	4,634	5,670	6,145	6,757	7,716
Total Debt	4,349	4,396	4,471	5,320	5,129	5,175	5,693	6,014	6,018	5,997
Total Long-Term Debt	4,345	4,392	4,419	5,289	5,113	5,163	5,688	6,013	4,705	5,675
Net Debt	2,138	3,128	2,956	3,894	3,969	3,763	3,610	4,542	4,170	3,760
Capital Expenditures (CapEx)	172	198	227	197	241	161	237	256	253	257
Debt-free, Cash-free Net Working Capital (DFCFNWC)	450	-226	-197	-50	-246	-404	-520	-629	-403	-356
Debt-free Net Working Capital (DFNWC)	2,430	804	1,071	1,207	755	850	1,354	696	1,302	1,746
Net Working Capital (NWC)	2,426	800	1,019	1,176	739	838	1,349	695	-11	1,424
Net Nonoperating Expense (NNE)	84	136	-29	135	505	170	93	132	118	574
Net Nonoperating Obligations (NNO)	2,071	3,128	2,956	3,894	3,969	3,763	3,610	4,542	4,138	3,760
Total Depreciation and Amortization (D&A)	150	295	343	360	394	409	438	440	356	336
Debt-free, Cash-free Net Working Capital to Revenue	7.90%	-3.74%	-3.09%	-0.68%	-3.12%	-5.45%	-6.36%	-6.90%	-4.04%	-3.29%
Debt-free Net Working Capital to Revenue	42.67%	13.32%	16.79%	16.44%	9.57%	11.46%	16.57%	7.64%	13.05%	16.14%
Net Working Capital to Revenue	42.60%	13.25%	15.97%	16.02%	9.37%	11.30%	16.51%	7.63%	-0.11%	13.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.06	$3.30	($0.95)	$0.00	$5.21	$5.58	$7.36	$8.14	$10.23	$9.45
Adjusted Weighted Average Basic Shares Outstanding	199.60M	169.60M	162.90M	162.40M	166.60M	170M	169.20M	167.50M	167M	166.80M
Adjusted Diluted Earnings per Share	$3.02	$3.24	($0.95)	$0.00	$4.95	$5.45	$7.17	$7.93	$9.93	$9.23
Adjusted Weighted Average Diluted Shares Outstanding	201.80M	173.10M	162.90M	172M	175.60M	174.10M	173.60M	171.90M	172.10M	170.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	174.34M	164.74M	161.31M	163.87M	170.58M	169.03M	168.21M	167.25M	166.13M	166.94M
Normalized Net Operating Profit after Tax (NOPAT)	697	698	899	1,104	1,376	1,123	1,343	1,499	1,832	2,156
Normalized NOPAT Margin	12.24%	11.56%	14.09%	15.03%	17.44%	15.14%	16.43%	16.45%	18.36%	19.94%
Pre Tax Income Margin	16.10%	13.98%	16.87%	15.01%	12.69%	15.83%	18.99%	16.63%	21.51%	18.23%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	7.69	10.94	9.69
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.63	8.48	9.50
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	6.56	9.76	8.56
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.50	7.31	8.37
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	45.19%	49.82%	-203.97%	34.88%	43.86%	46.17%	38.96%	39.21%	34.66%	41.59%
Augmented Payout Ratio	563.46%	199.64%	-523.84%	48.50%	80.02%	110.39%	81.20%	39.21%	34.66%	41.59%

This table displays calculated financial ratios and metrics derived from Motorola Solutions' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	10/1/2022	12/31/2022	4/1/2023	7/1/2023	9/30/2023	12/31/2023	3/30/2024	6/29/2024	9/28/2024	12/31/2024	3/29/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.62%	16.68%	14.75%	12.29%	7.71%	5.21%	10.04%	9.36%	9.15%	5.69%	5.82%
EBITDA Growth	-11.66%	20.76%	32.55%	34.83%	46.40%	2.42%	-92.73%	16.01%	14.34%	9.81%	1,735.14%
EBIT Growth	-14.97%	25.57%	50.55%	52.81%	64.80%	6.14%	-111.19%	19.30%	16.56%	10.78%	1,400.00%
NOPAT Growth	-8.56%	44.23%	6.32%	45.18%	60.03%	1.06%	16.83%	24.54%	14.75%	1.86%	26.52%
Net Income Growth	-9.09%	46.40%	4.10%	62.88%	66.07%	1.19%	-113.62%	19.30%	21.08%	2.51%	1,236.84%
EPS Growth	-7.39%	48.48%	4.55%	61.65%	65.64%	1.17%	-114.29%	20.93%	21.85%	2.88%	1,200.00%
Operating Cash Flow Growth	3.19%	81.08%	-105.26%	830.00%	84.02%	-2.20%	4,875.00%	93.55%	6.30%	-14.06%	33.51%
Free Cash Flow Firm Growth	-419.08%	-867.99%	45.58%	66.72%	75.23%	188.61%	159.66%	194.37%	165.91%	-92.57%	-204.46%
Invested Capital Growth	29.99%	30.28%	17.63%	16.79%	14.84%	4.37%	1.82%	2.24%	8.46%	12.34%	14.29%
Revenue Q/Q Growth	10.89%	14.08%	-19.80%	10.69%	6.37%	11.42%	-16.12%	10.00%	6.16%	7.89%	-16.01%
EBITDA Q/Q Growth	6.84%	65.20%	-38.38%	23.97%	16.01%	15.57%	-95.63%	1,878.38%	14.34%	10.99%	-26.91%
EBIT Q/Q Growth	10.11%	82.91%	-42.68%	32.36%	18.75%	17.80%	-106.04%	1,510.87%	16.02%	11.95%	-29.06%
NOPAT Q/Q Growth	14.77%	96.06%	-49.43%	27.59%	26.51%	23.81%	-41.54%	36.00%	16.57%	9.90%	-27.39%
Net Income Q/Q Growth	22.27%	110.71%	-52.71%	33.69%	24.66%	28.39%	-106.37%	1,271.05%	26.52%	8.70%	-29.41%
EPS Q/Q Growth	22.56%	110.43%	-53.06%	33.54%	25.58%	28.52%	-106.63%	1,230.43%	26.54%	8.51%	-29.13%
Operating Cash Flow Q/Q Growth	3,780.00%	228.09%	-100.63%	1,262.50%	667.74%	74.37%	-69.32%	-52.88%	321.67%	40.98%	-52.34%
Free Cash Flow Firm Q/Q Growth	35.74%	37.96%	3.83%	13.20%	52.17%	321.93%	-35.24%	37.29%	-66.60%	-75.00%	-1,010.95%
Invested Capital Q/Q Growth	-1.13%	0.47%	9.09%	7.77%	-2.78%	-8.69%	6.44%	8.21%	3.13%	-5.42%	8.29%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.45%	49.91%	48.18%	49.48%	50.08%	51.09%	49.90%	50.95%	51.36%	51.43%	51.42%
EBITDA Margin	21.07%	30.51%	23.45%	26.26%	28.64%	29.71%	1.55%	27.85%	30.00%	30.86%	26.86%
Operating Margin	15.72%	25.53%	18.38%	21.56%	25.00%	25.91%	21.72%	24.51%	25.48%	27.04%	23.02%
EBIT Margin	16.52%	26.49%	18.93%	22.64%	25.27%	26.72%	-1.93%	24.70%	26.99%	28.01%	23.66%
Profit (Net Income) Margin	11.80%	21.80%	12.85%	15.52%	18.19%	20.96%	-1.59%	16.93%	20.18%	20.33%	17.09%
Tax Burden Percent	84.08%	88.99%	77.93%	76.59%	78.55%	84.20%	42.22%	76.72%	81.01%	77.76%	78.98%
Interest Burden Percent	84.95%	92.47%	87.10%	89.52%	91.64%	93.17%	195.65%	89.37%	92.30%	93.36%	91.47%
Effective Tax Rate	15.92%	11.01%	22.07%	23.41%	21.45%	15.80%	0.00%	23.28%	18.99%	22.24%	21.02%
Return on Invested Capital (ROIC)	28.03%	50.12%	28.52%	31.26%	38.66%	45.59%	30.14%	35.27%	39.51%	43.93%	35.81%
ROIC Less NNEP Spread (ROIC-NNEP)	27.27%	49.51%	27.85%	30.80%	37.93%	45.03%	21.69%	34.28%	39.24%	43.40%	35.20%
Return on Net Nonoperating Assets (RNNOA)	-376.79%	3,736.82%	-5,388.20%	-4,006.36%	-21,091.52%	449.29%	262.28%	291.82%	215.19%	139.45%	143.09%
Return on Equity (ROE)	-348.76%	3,786.94%	-5,359.68%	-3,975.10%	-21,052.86%	494.88%	292.42%	327.09%	254.70%	183.38%	178.91%
Cash Return on Invested Capital (CROIC)	5.70%	9.99%	15.97%	16.63%	22.75%	34.10%	36.80%	35.29%	30.70%	30.02%	25.56%
Operating Return on Assets (OROA)	12.51%	19.31%	14.81%	18.27%	20.67%	20.39%	-1.53%	20.11%	21.85%	21.69%	18.67%
Return on Assets (ROA)	8.93%	15.89%	10.06%	12.53%	14.88%	16.00%	-1.26%	13.79%	16.34%	15.75%	13.49%
Return on Common Equity (ROCE)	-364.52%	2,664.88%	-8,969.26%	-5,333.68%	-53,801.75%	477.82%	280.89%	318.97%	250.40%	181.07%	176.14%
Return on Equity Simple (ROE_SIMPLE)	-289.22%	0.00%	588.89%	451.63%	471.55%	0.00%	268.14%	183.17%	118.18%	0.00%	125.05%
Net Operating Profit after Tax (NOPAT)	314	615	311	397	502	621	363	494	576	633	460
NOPAT Margin	13.22%	22.72%	14.32%	16.51%	19.64%	21.82%	15.21%	18.80%	20.64%	21.03%	18.18%
Net Nonoperating Expense Percent (NNEP)	0.76%	0.61%	0.67%	0.46%	0.74%	0.56%	8.45%	0.99%	0.28%	0.53%	0.62%
Return On Investment Capital (ROIC_SIMPLE)	-	10.01%	-	-	-	9.20%	-	-	-	8.20%	6.00%
Cost of Revenue to Revenue	56.55%	50.09%	51.82%	50.52%	49.92%	48.91%	50.10%	49.05%	48.64%	48.57%	48.58%
SG&A Expenses to Revenue	15.93%	13.96%	16.95%	16.23%	14.87%	14.85%	16.62%	16.36%	15.73%	16.15%	17.25%
R&D to Revenue	8.30%	7.50%	9.67%	8.95%	8.41%	7.65%	9.13%	8.37%	8.39%	8.14%	9.22%
Operating Expenses to Revenue	27.73%	24.38%	29.80%	27.92%	25.08%	25.18%	28.17%	26.45%	25.88%	24.39%	28.40%
Earnings before Interest and Taxes (EBIT)	392	717	411	544	646	761	-46	649	753	843	598
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	500	826	509	631	732	846	37	732	837	929	679
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	363.13	201.51	144.27	124.27	71.06	112.79	80.28	56.16	45.36	44.05
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.19	4.62	5.02	5.04	4.57	5.16	5.76	6.18	6.99	7.14	6.60
Price to Earnings (P/E)	31.14	30.90	34.32	32.05	26.43	30.10	42.21	43.98	47.68	48.98	35.33
Dividend Yield	1.44%	1.29%	1.18%	1.18%	1.31%	1.17%	1.05%	0.99%	0.88%	0.87%	0.96%
Earnings Yield	3.21%	3.24%	2.91%	3.12%	3.78%	3.32%	2.37%	2.27%	2.10%	2.04%	2.83%
Enterprise Value to Invested Capital (EV/IC)	8.95	9.99	10.20	9.79	9.36	11.41	12.22	12.32	13.63	14.79	12.91
Enterprise Value to Revenue (EV/Rev)	4.77	5.12	5.54	5.57	5.08	5.58	6.22	6.64	7.41	7.49	6.99
Enterprise Value to EBITDA (EV/EBITDA)	20.45	21.43	22.59	21.81	18.52	20.47	28.24	29.49	32.19	31.96	24.10
Enterprise Value to EBIT (EV/EBIT)	26.16	26.86	27.73	26.05	21.56	23.55	33.30	34.43	37.29	36.85	26.93
Enterprise Value to NOPAT (EV/NOPAT)	31.85	31.15	34.29	32.84	27.36	30.36	31.94	33.22	36.53	37.57	35.39
Enterprise Value to Operating Cash Flow (EV/OCF)	33.24	25.61	31.28	30.80	24.11	27.22	26.06	27.45	30.76	33.89	30.40
Enterprise Value to Free Cash Flow (EV/FCFF)	177.60	113.10	69.07	63.44	43.96	34.17	33.51	35.30	46.19	52.13	53.86
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-15.26	45.91	24.16	17.14	16.00	8.14	11.74	7.72	4.47	3.49	3.62
Long-Term Debt to Equity	-15.26	45.90	24.15	17.14	12.51	6.37	11.16	7.03	4.23	3.30	3.42
Financial Leverage	-13.82	75.48	-193.49	-130.09	-556.11	9.98	12.09	8.51	5.48	3.21	4.07
Leverage Ratio	-35.90	231.51	-489.84	-302.84	-1,336.72	30.06	32.67	21.92	15.33	11.36	12.64
Compound Leverage Factor	-30.50	214.07	-426.67	-271.10	-1,224.98	28.00	63.92	19.59	14.15	10.61	11.56
Debt to Total Capital	107.01%	97.87%	96.02%	94.49%	94.12%	89.06%	92.15%	88.53%	81.72%	77.72%	78.34%
Short-Term Debt to Total Capital	0.02%	0.02%	0.02%	0.00%	20.54%	19.43%	4.57%	7.93%	4.39%	4.17%	4.20%
Long-Term Debt to Total Capital	106.99%	97.85%	96.01%	94.49%	73.58%	69.63%	87.58%	80.60%	77.33%	73.55%	74.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.25%	0.24%	0.24%	0.22%	0.22%	0.22%	0.23%	0.21%	0.20%	0.21%	0.24%
Common Equity to Total Capital	-7.26%	1.89%	3.74%	5.29%	5.66%	10.71%	7.61%	11.26%	18.07%	22.07%	21.43%
Debt to EBITDA	2.95	2.76	2.61	2.44	2.23	2.21	2.81	2.69	2.45	2.37	1.89
Net Debt to EBITDA	2.48	2.09	2.11	2.09	1.84	1.53	2.07	2.05	1.82	1.48	1.35
Long-Term Debt to EBITDA	2.95	2.76	2.61	2.44	1.74	1.73	2.67	2.45	2.31	2.24	1.79
Debt to NOPAT	4.60	4.01	3.96	3.67	3.29	3.28	3.18	3.03	2.77	2.78	2.77
Net Debt to NOPAT	3.86	3.03	3.20	3.14	2.72	2.28	2.34	2.30	2.06	1.74	1.98
Long-Term Debt to NOPAT	4.60	4.01	3.96	3.67	2.58	2.57	3.02	2.76	2.63	2.63	2.62
Altman Z-Score	2.90	3.10	3.44	3.62	3.33	3.56	3.74	4.28	4.80	4.87	4.59
Noncontrolling Interest Sharing Ratio	-4.52%	29.63%	-67.35%	-34.18%	-155.56%	3.45%	3.94%	2.48%	1.69%	1.26%	1.55%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.25	1.15	1.22	1.23	0.95	1.00	1.19	1.20	1.25	1.28	1.20
Quick Ratio	0.58	0.62	0.60	0.59	0.49	0.60	0.67	0.68	0.70	0.80	0.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-759	-471	-453	-393	-188	417	270	371	124	31	-282
Operating Cash Flow to CapEx	554.29%	1,743.84%	-14.81%	175.47%	1,098.46%	1,537.04%	830.43%	264.71%	1,331.58%	1,244.19%	1,378.38%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-3.55	0.00	0.00	0.00	2.14	0.00	-5.54
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	13.47	0.00	0.00	0.00	13.09	0.00	10.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	12.25	0.00	0.00	0.00	12.10	0.00	9.27
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.76	0.73	0.78	0.81	0.82	0.76	0.79	0.81	0.81	0.77	0.79
Accounts Receivable Turnover	6.81	6.28	7.54	6.90	6.48	6.18	6.96	6.36	6.06	5.91	6.52
Inventory Turnover	5.30	5.30	4.89	4.82	4.70	5.32	5.29	5.66	5.90	6.66	6.38
Fixed Asset Turnover	0.00	9.26	9.36	9.78	10.95	10.55	10.82	10.84	10.90	10.89	10.98
Accounts Payable Turnover	6.20	5.11	6.43	6.32	6.19	5.15	6.59	6.71	6.57	5.59	6.40
Days Sales Outstanding (DSO)	53.63	58.16	48.41	52.87	56.31	59.04	52.48	57.35	60.21	61.78	56.00
Days Inventory Outstanding (DIO)	68.91	68.88	74.64	75.76	77.68	68.58	69.05	64.54	61.87	54.80	57.22
Days Payable Outstanding (DPO)	58.89	71.50	56.74	57.79	59.00	70.81	55.36	54.41	55.56	65.33	57.01
Cash Conversion Cycle (CCC)	63.65	55.55	66.32	70.85	74.99	56.82	66.17	67.48	66.51	51.26	56.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,651	4,673	5,098	5,494	5,341	4,877	5,191	5,617	5,793	5,479	5,933
Invested Capital Turnover	2.12	2.21	1.99	1.89	1.97	2.09	1.98	1.88	1.91	2.09	1.97
Increase / (Decrease) in Invested Capital	1,073	1,086	764	790	690	204	93	123	452	602	742
Enterprise Value (EV)	41,644	46,680	52,018	53,777	49,965	55,630	63,432	69,203	78,938	81,024	76,574
Market Capitalization	36,585	42,123	47,154	48,620	44,986	51,445	58,762	64,388	74,471	77,248	72,282
Book Value per Share	($2.44)	$0.69	$1.40	$2.01	$2.17	$4.36	$3.13	$4.81	$7.95	$10.19	$9.83
Tangible Book Value per Share	($26.58)	($27.14)	($26.04)	($25.16)	($24.75)	($23.69)	($24.78)	($22.82)	($20.93)	($18.38)	($21.28)
Total Capital	5,619	6,145	6,264	6,366	6,393	6,757	6,844	7,125	7,337	7,716	7,658
Total Debt	6,013	6,014	6,015	6,015	6,017	6,018	6,307	6,308	5,996	5,997	5,999
Total Long-Term Debt	6,012	6,013	6,014	6,015	4,704	4,705	5,994	5,743	5,674	5,675	5,677
Net Debt	5,045	4,542	4,849	5,143	4,965	4,170	4,654	4,800	4,452	3,760	4,274
Capital Expenditures (CapEx)	70	73	54	53	65	81	46	68	57	86	37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	118	-629	-161	150	147	-403	-304	111	61	-356	-265
Debt-free Net Working Capital (DFNWC)	940	696	861	860	1,057	1,302	1,208	1,492	1,465	1,746	1,299
Net Working Capital (NWC)	939	695	860	860	-256	-11	895	927	1,143	1,424	977
Net Nonoperating Expense (NNE)	34	25	32	24	37	24	401	49	13	21	28
Net Nonoperating Obligations (NNO)	5,045	4,542	4,849	5,143	4,965	4,138	4,654	4,800	4,452	3,760	4,274
Total Depreciation and Amortization (D&A)	108	109	98	87	86	85	83	83	84	86	81
Debt-free, Cash-free Net Working Capital to Revenue	1.35%	-6.90%	-1.71%	1.55%	1.49%	-4.04%	-2.98%	1.07%	0.57%	-3.29%	-2.42%
Debt-free Net Working Capital to Revenue	10.77%	7.64%	9.17%	8.91%	10.75%	13.05%	11.85%	14.32%	13.75%	16.14%	11.86%
Net Working Capital to Revenue	10.76%	7.63%	9.16%	8.91%	-2.60%	-0.11%	8.78%	8.90%	10.73%	13.16%	8.92%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.67	$3.52	$1.66	$2.21	$2.78	$3.58	($0.23)	$2.65	$3.36	$3.67	$2.58
Adjusted Weighted Average Basic Shares Outstanding	167.20M	167.50M	167.40M	167.50M	166.70M	167M	166.30M	166.90M	167.10M	166.80M	166.90M
Adjusted Diluted Earnings per Share	$1.63	$3.43	$1.61	$2.15	$2.70	$3.47	($0.23)	$2.60	$3.29	$3.57	$2.53
Adjusted Weighted Average Diluted Shares Outstanding	171.50M	171.90M	172.60M	172.60M	171.70M	172.10M	166.30M	170.30M	170.90M	170.80M	169.80M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	167.20M	167.25M	167.72M	167.02M	165.97M	166.13M	166.79M	166.84M	167.12M	166.94M	166.92M
Normalized Net Operating Profit after Tax (NOPAT)	314	615	311	397	502	621	363	494	576	633	460
Normalized NOPAT Margin	13.22%	22.72%	14.32%	16.51%	19.64%	21.82%	15.21%	18.80%	20.64%	21.03%	18.18%
Pre Tax Income Margin	14.03%	24.49%	16.49%	20.27%	23.16%	24.89%	-3.77%	22.07%	24.91%	26.15%	21.64%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	12.19	0.00	0.00	0.00	12.98	0.00	11.73
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	9.47	0.00	0.00	0.00	9.93	0.00	9.01
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	10.96	0.00	0.00	0.00	12.00	0.00	11.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	8.24	0.00	0.00	0.00	8.95	0.00	8.29
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	44.41%	39.21%	39.99%	37.06%	33.98%	34.66%	43.52%	42.41%	40.84%	41.59%	32.99%
Augmented Payout Ratio	118.98%	39.21%	75.04%	72.86%	78.32%	34.66%	93.84%	79.85%	58.39%	41.59%	32.99%

Key Financial Trends

Motorola Solutions (NYSE:MSI) has shown a mixed performance over the last several quarters, with key trends emerging from its quarterly financial results for 2022 through Q1 2025.

Revenue and Profitability:

Operating revenue grew steadily from around $2.37 billion in Q3 2022 to $2.53 billion in Q1 2025, showing overall top-line growth.
Gross profit has improved in line with revenue growth, reaching $1.3 billion in Q1 2025 from $1.03 billion in Q3 2022.
Operating expenses (SG&A and R&D) have increased but remain relatively stable as a percentage of revenue, indicating controlled cost management.
Q1 2024 posted a loss from continuing operations (-$38M), linked to a significant negative impact from other income/expense net (-$609M), reflecting some financial challenges or one-time charges during that period.
The company rebounded strongly after Q1 2024, with Q1 2025 net income at $432 million and basic EPS of $2.58, showing recovery and growth.

Cash Flow and Capital Allocation:

Net cash from operating activities shows strong positive cash flow generation, with $510 million in Q1 2025 and even higher values in prior quarters (e.g., $1.245 billion in Q4 2023), reflecting solid underlying business cash generation.
Capital expenditures have risen, reaching $37 million in Q1 2025 and higher in some previous quarters, indicating ongoing investments which might impact free cash flow.
The company has engaged in significant share repurchases (e.g., $325 million in Q1 2025), which reduces cash but signals confidence in the stock by management.
Dividend payments have steadily increased to about $1.09 per share in Q1 2025 from $0.79 in Q3 2022, representing a cash outflow that must be supported by cash flows.

Balance Sheet Strength and Leverage:

Total assets increased from approximately $11.6 billion in Q3 2022 to $14.4 billion in Q1 2025, reflecting growth and asset buildup.
Total liabilities have also grown, with long-term debt around $5.7 billion in Q1 2025, up from approximately $4.7 billion in late 2022, indicating increased leverage.
Equity remains relatively modest compared to liabilities, suggesting leverage and financial risk need careful monitoring.
The company's cash and equivalents fluctuated but were healthy at about $1.56 billion in Q1 2025, providing liquidity.

Summary:

Motorola Solutions has demonstrated revenue growth and operational profitability improvement from 2022 into early 2025, recovering well from a difficult Q1 2024. The company generates strong operating cash flow, which supports dividends and share repurchases, signaling management's confidence. However, increasing debt levels and elevated capital expenditures require monitoring to ensure financial flexibility. The loss in early 2024 due to other expenses represents a caution point but has been followed by a return to profitability.

Investors should weigh the company's positive top-line and cash flow trends against its leverage and periodic earnings volatility when considering MSI's stock.

08/03/25 08:08 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Motorola Solutions' Financials

When does Motorola Solutions' fiscal year end?

According to the most recent income statement we have on file, Motorola Solutions' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Motorola Solutions' net income changed over the last 9 years?

Motorola Solutions' net income appears to be on an upward trend, with a most recent value of $1.58 billion in 2024, rising from $613 million in 2015. The previous period was $1.71 billion in 2023. View Motorola Solutions' forecast to see where analysts expect Motorola Solutions to go next.

What is Motorola Solutions' operating income?

Motorola Solutions' total operating income in 2024 was $2.69 billion, based on the following breakdown:

Total Gross Profit: $5.51 billion
Total Operating Expenses: $2.82 billion

How has Motorola Solutions' revenue changed over the last 9 years?

Over the last 9 years, Motorola Solutions' total revenue changed from $5.70 billion in 2015 to $10.82 billion in 2024, a change of 89.9%.

How much debt does Motorola Solutions have?

Motorola Solutions' total liabilities were at $12.88 billion at the end of 2024, a 2.2% increase from 2023, and a 52.5% increase since 2015.

How much cash does Motorola Solutions have?

In the past 9 years, Motorola Solutions' cash and equivalents has ranged from $967 million in 2016 to $2.10 billion in 2024, and is currently $2.10 billion as of their latest financial filing in 2024.

How has Motorola Solutions' book value per share changed over the last 9 years?

Over the last 9 years, Motorola Solutions' book value per share changed from -0.60 in 2015 to 10.19 in 2024, a change of -1,797.2%.

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This page (NYSE:MSI) was last updated on 8/3/2025 by MarketBeat.com Staff

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Motorola Solutions (MSI) Financials

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Motorola Solutions (MSI) Financials

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