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Stocks / United States / MSI · Radio & Tv Broadcasting & Communications Equipment · NYSE

Motorola Solutions, Inc. (MSI)

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Motorola Solutions, Inc. (MSI) reported revenue of $3.1 billion for Q2 FY2026, the quarter ended 4 July 2026, up 13.3% on the same quarter a year earlier. Net income was $557 million, up 8.6% on the year, and diluted earnings per share $3.33. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$3.1 billionup 13.3%
Net income$557 millionup 8.6%
Diluted EPS$3.33
QuarterQ2 FY2026ended 4 July 2026

Ratios

From the filings

ROE79.9%
ROCE27.5%
Operating margin24.9%
Net margin17.4%
FCF margin21.9%
Interest cover6.93
Debt to equity3.15
Cash conversion1.39
Share count, 1 year-0.7%
Sales CAGR, 3 years8.6%
Profit CAGR, 3 years16.5%
EPS, TTM$12.69

At the close of 21 September 2026

Price$461.36
Market cap$76.4 billion
Stock P/E36.36
Price to book28.58
EV / EBITDA23.37
Dividend yield1.0%
Market cap / sales6.24
52-week high$491.24
52-week low$363.83
Price, 1 year-3.1%
Price CAGR, 3 years18.4%
Price CAGR, 5 years14.0%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Motorola Solutions, Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on MSI

Filings19 in twelve months: 9 current reports (8-K), about 4 results of operations; 2 other events; 2 officer or director change; 1 shareholder vote
Planned insider sales14 Form 144 notices in twelve months, $136.8 million; latest 2 September 2026
Options tapeput/call 0.45 by open interest on 23 September 2026; the straddle prices a 4.7% move to 16 October 2026
Holders12 of the followed funds hold it; largest Geode Capital Management; 5 Schedule 13D or 13G filings in twelve months
Insider trading80 sales and 0 purchases on Form 4 in twelve months
Congress1 House trade disclosed in six months
Short interest3.3 million shares short, 3.16 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,5562,8482,3892,6282,7903,0102,5282,7653,0093,3802,7143,133
Cost of revenue1,2761,3931,1971,2891,3571,4621,2281,3521,4551,6121,3521,455
Gross profit1,2801,4551,1921,3391,4331,5481,3001,4131,5541,7681,3621,678
Gross margin50%51%50%51%51%51%51%51%52%52%50%54%
R&D215218218220234245233231237269252260
SG&A380423397430439486436450485499439496
Operating income639738519644711814582692770944525809
Operating margin25%26%22%25%25%27%23%25%26%28%19%26%
Interest expense60.063.061.087.073.074.069.071.0103117111109
Pre-tax income592709-90.0580695787547680725860441742
Tax rate21%16%n/a23%19%22%21%24%22%25%17%25%
Net income464596-39.0443562611430513562649366557
Net margin18%21%-2%17%20%20%17%19%19%19%13%18%
Diluted EPS$2.70$3.47-$0.23$2.60$3.29$3.57$2.53$3.04$3.33$3.85$2.18$3.33
Operating cash flow7141,2453821807591,0705102737981,256451469
Capital expenditure65.081.046.068.057.086.037.048.066.011462.055.0
Free cash flow6491,1643361127029844732257321,142389414
Buybacks30613439.071.031.0103325218121490118331
Dividends paid147146163163164164182182182182201201
Shares outstanding166m166m167m167m167m167m167m167m167m166m166m166m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue5,8815,6956,0386,3807,3437,8877,4148,1719,1129,97810,81711,68212,236
Cost of revenue3,0502,9763,1693,3563,8633,9563,8064,1314,8835,0085,3055,6475,874
Gross profit2,8312,7192,8693,0243,4803,9313,6084,0404,2294,9705,5126,0356,362
Gross margin48.1%47.7%47.5%47.4%47.4%49.8%48.7%49.4%46.4%49.8%51.0%51.7%52.0%
Research and development6816205535686376876867347798589179701,018
Selling, general and administrative1,1841,0211,0441,0251,2541,4031,2931,3531,4501,5611,7521,8701,919
Operating income-1,0069941,0481,2821,2551,5811,3831,6671,6612,2942,6882,9883,048
Operating margin-17.1%17.5%17.4%20.1%17.1%20.0%18.7%20.4%18.2%23.0%24.8%25.6%24.9%
Interest expense147186225215240237233215240249295360440
Pre-tax income-1,1619178441,0761,1021,0011,1741,5521,5152,1461,9722,8122,768
Income tax-4652742821,227133130221302148432390652629
Effective tax raten/a29.9%33.4%114.0%12.1%13.0%18.8%19.5%9.8%20.1%19.8%23.2%22.7%
Net income1,299610560-1559668689491,2451,3631,7091,5772,1542,134
Net margin22.1%10.7%9.3%-2.4%13.2%11.0%12.8%15.2%15.0%17.1%14.6%18.4%17.4%
Diluted EPS$5.29$3.02$3.24-$0.95$5.62$4.95$5.45$7.17$7.93$9.93$9.23$12.75$12.69
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow-6371,0211,1651,3461,0751,8231,6131,8371,8232,0442,3912,8372,974
Capital expenditure181175271227197248217243256253257265297
Free cash flow-8188468941,1198781,5751,3961,5941,5671,7912,1342,5722,677
Free cash flow margin-13.9%14.9%14.8%17.5%12.0%20.0%18.8%19.5%17.2%17.9%19.7%22.0%21.9%
Depreciation and amortisation173150295343360394409438440356336425549
Share-based compensation94.078.068.066.073.0118129129172212243293357
Buybacks2,5463,1778424831323156125288368042441,1541,060
Dividends paid318277280307337379436482530589654728766
Dividend per share$1.30$1.43$1.70$1.93$2.13$2.35$2.63$2.92$3.25$3.62$4.03$4.48n/a
Diluted shares, weighted246m202m173m163m172m176m174m174m172m172m171m169m167m
Shares outstanding at period end220m174m165m161m164m170m169m169m168m166m167m166m166m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015 FY2016 FY2017 FY2018 FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Total assets10,4238,3468,4638,2089,40910,64210,87612,18912,81413,33614,59519,38919,242
Cash and equivalents3,9541,9809671,2051,2571,0011,2541,8741,3251,7052,1021,165710
Receivables1,4091,3621,4101,5231,2931,4121,3901,3861,5181,7101,9522,2002,160
Inventory3452962733273564475087881,0558277669831,333
Goodwill3834207289381,5142,0672,2192,5653,3123,4013,5266,8006,883
Long-term debt3,3964,3454,3924,4195,2895,1135,1635,6886,0134,7055,6758,4138,417
Borrowings, as the company tags them3,4074,3554,4014,4765,3245,1325,1775,6956,0156,0195,9989,1639,033
Operating lease liabilitiesn/an/an/an/an/a497402313419407427471442
Finance lease liabilitiesn/an/an/an/an/a16.05.00.0n/an/an/an/an/a
Shareholders' equity2,735-106-964-1,742-1,293-700-558-40.01167241,7032,4102,672
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded7.4%9.5%8.6%10.3%
Profit growth, compounded13.4%17.8%16.5%0.9%
Return on equity, averagen/a398.3%139.3%89.4%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Radio & Tv Broadcasting & Communications Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Qualcomm Inc. QCOM$205.3 billion22.1733.5%23.2%1.9%0.461.8%
Motorola Solutions, Inc. MSI$76.4 billion36.3679.9%24.9%10.3%3.151.0%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q4 July 20265 August 2026EDGAR
10-Q4 April 20267 May 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q27 September 202530 October 2025EDGAR
10-Q28 June 20257 August 2025EDGAR
10-Q29 March 20251 May 2025EDGAR
10-K31 December 202414 February 2025EDGAR
10-Q28 September 20247 November 2024EDGAR
10-Q29 June 20241 August 2024EDGAR
10-Q30 March 20242 May 2024EDGAR

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