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Motorola Solutions

MSI Clue Score54
United States Fiscal year ends December CIK 0000068505
$444.18 -0.66% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $444.18 +88.48% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue6.04Operating income1.05Net income0.56EPS, diluted3.24Fiscal year 2017Revenue6.38 +5.7%Operating income1.28Net income−0.16 −127.7%EPS, diluted−0.95 −129.3%Fiscal year 2018Revenue7.34 +15.1%Operating income1.26Net income0.97EPS, diluted5.62Fiscal year 2019Revenue7.89 +7.4%Operating income1.58Net income0.87 −10.1%EPS, diluted4.95 −11.9%Fiscal year 2020Revenue7.41 −6.0%Operating income1.38Net income0.95 +9.3%EPS, diluted5.45 +10.1%Fiscal year 2021Revenue8.17 +10.2%Operating income1.67Net income1.25 +31.2%EPS, diluted7.17 +31.6%Fiscal year 2022Revenue9.11 +11.5%Operating income1.66Net income1.36 +9.5%EPS, diluted7.93 +10.6%Fiscal year 2023Revenue9.98 +9.5%Operating income2.29Net income1.71 +25.4%EPS, diluted9.93 +25.2%Fiscal year 2024Revenue10.82 +8.4%Operating income2.69Net income1.58 −7.7%EPS, diluted9.23 −7.0%Fiscal year 2025Revenue11.68 +8.0%Operating income2.99Net income2.15 +36.6%EPS, diluted12.75 +38.1%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 6.04 6.38 7.34 7.89 7.41 8.17 9.11 9.98 10.82 11.68
Growth +5.7% +15.1% +7.4% −6.0% +10.2% +11.5% +9.5% +8.4% +8.0%
Operating income 1.05 1.28 1.26 1.58 1.38 1.67 1.66 2.29 2.69 2.99
Net income 0.56 −0.16 0.97 0.87 0.95 1.25 1.36 1.71 1.58 2.15
Growth −127.7% −10.1% +9.3% +31.2% +9.5% +25.4% −7.7% +36.6%
EPS, diluted 3.24 −0.95 5.62 4.95 5.45 7.17 7.93 9.93 9.23 12.75
Growth −129.3% −11.9% +10.1% +31.6% +10.6% +25.2% −7.0% +38.1%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin47.5%Operating margin17.4%Net margin9.3%Free cash flow margin14.8%Fiscal year 2017Gross margin47.4%Operating margin20.1%Net margin−2.4%Free cash flow margin17.5%Fiscal year 2018Gross margin47.4%Operating margin17.1%Net margin13.2%Free cash flow margin12.0%Fiscal year 2019Gross margin49.8%Operating margin20.0%Net margin11.0%Free cash flow margin20.0%Fiscal year 2020Gross margin48.7%Operating margin18.7%Net margin12.8%Free cash flow margin18.8%Fiscal year 2021Gross margin49.4%Operating margin20.4%Net margin15.2%Free cash flow margin19.5%Fiscal year 2022Gross margin46.4%Operating margin18.2%Net margin15.0%Free cash flow margin17.2%Fiscal year 2023Gross margin49.8%Operating margin23.0%Net margin17.1%Free cash flow margin17.9%Fiscal year 2024Gross margin51.0%Operating margin24.8%Net margin14.6%Free cash flow margin19.7%Fiscal year 2025Gross margin51.7%Operating margin25.6%Net margin18.4%Free cash flow margin22.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 47.5% 47.4% 47.4% 49.8% 48.7% 49.4% 46.4% 49.8% 51.0% 51.7%
Operating margin 17.4% 20.1% 17.1% 20.0% 18.7% 20.4% 18.2% 23.0% 24.8% 25.6%
Net margin 9.3% −2.4% 13.2% 11.0% 12.8% 15.2% 15.0% 17.1% 14.6% 18.4%
Free cash flow margin 14.8% 17.5% 12.0% 20.0% 18.8% 19.5% 17.2% 17.9% 19.7% 22.0%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.17Capital expenditure−0.27Free cash flow0.89Buybacks−0.84Dividends paid−0.28Fiscal year 2017Operating cash flow1.35Capital expenditure−0.23Free cash flow1.12 +25.2%Buybacks−0.48Dividends paid−0.31Fiscal year 2018Operating cash flow1.08Capital expenditure−0.20Free cash flow0.88 −21.5%Buybacks−0.13Dividends paid−0.34Fiscal year 2019Operating cash flow1.82Capital expenditure−0.25Free cash flow1.58 +79.4%Buybacks−0.32Dividends paid−0.38Fiscal year 2020Operating cash flow1.61Capital expenditure−0.22Free cash flow1.40 −11.4%Buybacks−0.61Dividends paid−0.44Fiscal year 2021Operating cash flow1.84Capital expenditure−0.24Free cash flow1.59 +14.2%Buybacks−0.53Dividends paid−0.48Fiscal year 2022Operating cash flow1.82Capital expenditure−0.26Free cash flow1.57 −1.7%Buybacks−0.84Dividends paid−0.53Fiscal year 2023Operating cash flow2.04Capital expenditure−0.25Free cash flow1.79 +14.3%Buybacks−0.80Dividends paid−0.59Fiscal year 2024Operating cash flow2.39Capital expenditure−0.26Free cash flow2.13 +19.2%Buybacks−0.24Dividends paid−0.65Fiscal year 2025Operating cash flow2.84Capital expenditure−0.27Free cash flow2.57 +20.5%Buybacks−1.15Dividends paid−0.73
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.17 1.35 1.08 1.82 1.61 1.84 1.82 2.04 2.39 2.84
Capital expenditure −0.27 −0.23 −0.20 −0.25 −0.22 −0.24 −0.26 −0.25 −0.26 −0.27
Free cash flow 0.89 1.12 0.88 1.58 1.40 1.59 1.57 1.79 2.13 2.57
Growth +25.2% −21.5% +79.4% −11.4% +14.2% −1.7% +14.3% +19.2% +20.5%
Buybacks −0.84 −0.48 −0.13 −0.32 −0.61 −0.53 −0.84 −0.80 −0.24 −1.15
Dividends paid −0.28 −0.31 −0.34 −0.38 −0.44 −0.48 −0.53 −0.59 −0.65 −0.73

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.97Total debt4.40Net cash (debt)−3.43Shareholders’ equity−0.96Fiscal year 2017Cash1.21Total debt4.47Net cash (debt)−3.27Shareholders’ equity−1.74Fiscal year 2018Cash1.26Total debt5.32Net cash (debt)−4.06Shareholders’ equity−1.29Fiscal year 2019Cash1.00Total debt5.13Net cash (debt)−4.13Shareholders’ equity−0.70Fiscal year 2020Cash1.25Total debt5.18Net cash (debt)−3.92Shareholders’ equity−0.56Fiscal year 2021Cash1.87Total debt5.69Net cash (debt)−3.82Shareholders’ equity−0.04Fiscal year 2022Cash1.33Total debt6.01Net cash (debt)−4.69Shareholders’ equity0.12Debt to equity51.84Fiscal year 2023Cash1.71Total debt6.02Net cash (debt)−4.31Shareholders’ equity0.72Debt to equity8.31Fiscal year 2024Cash2.10Total debt6.00Net cash (debt)−3.90Shareholders’ equity1.70Debt to equity3.52Fiscal year 2025Cash1.17Total debt8.41Net cash (debt)−7.25Shareholders’ equity2.41Debt to equity3.49
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.97 1.21 1.26 1.00 1.25 1.87 1.33 1.71 2.10 1.17
Total debt 4.40 4.47 5.32 5.13 5.18 5.69 6.01 6.02 6.00 8.41
Net cash (debt) −3.43 −3.27 −4.06 −4.13 −3.92 −3.82 −4.69 −4.31 −3.90 −7.25
Shareholders’ equity −0.96 −1.74 −1.29 −0.70 −0.56 −0.04 0.12 0.72 1.70 2.41
Debt to equity n/a n/a n/a n/a n/a n/a 51.84 8.31 3.52 3.49

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
6.04 6.38 7.34 7.89 7.41 8.17 9.11 9.98 10.82 11.68
Growth +5.7% +15.1% +7.4% −6.0% +10.2% +11.5% +9.5% +8.4% +8.0%
3.17 3.36 3.86 3.96 3.81 4.13 4.88 5.01 5.31 5.65
2.87 3.02 3.48 3.93 3.61 4.04 4.23 4.97 5.51 6.04
Growth +5.4% +15.1% +13.0% −8.2% +12.0% +4.7% +17.5% +10.9% +9.5%
0.55 0.57 0.64 0.69 0.69 0.73 0.78 0.86 0.92 0.97
1.04 1.03 1.25 1.40 1.29 1.35 1.45 1.56 1.75 1.87
1.05 1.28 1.26 1.58 1.38 1.67 1.66 2.29 2.69 2.99
Growth +22.5% −2.3% +26.0% −12.5% +20.5% −0.4% +38.1% +17.2% +11.2%
0.84 1.08 1.10 1.00 1.17 1.55 1.52 2.15 1.97 2.81
0.28 1.23 0.13 0.13 0.22 0.30 0.15 0.43 0.39 0.65
0.56 −0.16 0.97 0.87 0.95 1.25 1.36 1.71 1.58 2.15
Growth −127.7% −10.1% +9.3% +31.2% +9.5% +25.4% −7.7% +36.6%
Per share
3.30 −0.95 5.95 5.21 5.58 7.36 8.14 10.23 9.45 12.93
3.24 −0.95 5.62 4.95 5.45 7.17 7.93 9.93 9.23 12.75
Growth −129.3% −11.9% +10.1% +31.6% +10.6% +25.2% −7.0% +38.1%
169.6 162.9 162.4 166.6 170.0 169.2 167.5 167.0 166.8 166.6
173.1 162.9 172.0 175.6 174.1 173.6 171.9 172.1 170.8 169.0
Growth −5.9% +5.6% +2.1% −0.9% −0.3% −1.0% +0.1% −0.8% −1.1%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 9.5% a year over five years, and earnings per share grew 18.5% a year.
  • The diluted share count fell 2.9% in five years, so buybacks did some of the work per share.
  • Operating margin is up 6.9 points on five years ago, at 25.6%.
  • A net loss in 1 of 10 years on file.