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Motorola Solutions (MSI) Q4 FY2021 earnings: revenue $2.3 billion, up 2.1% on the year

Motorola Solutions, Inc. (MSI) reported revenue of $2.3 billion for Q4 FY2021, the quarter ended 31 December 2021, up 2.1% on the same quarter a year earlier. Net income was $401 million, down 2.7% on the year, and diluted earnings per share $2.31. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.

Revenue
$2.3 billion
+2.1% on the year · +10.1% on the quarter
Q1 FY2020Q4 FY2021
Operating margin
23.6%
24.4% a year earlier
Q1 FY2020Q4 FY2021
Net income
$401 million
-2.7% on the year · +30.6% on the quarter
Q1 FY2020Q4 FY2021
Diluted EPS
$2.31
-2.5% on the year · +31.3% on the quarter
Q1 FY2020Q4 FY2021

this quarterthe same quarter a year earlierHover a bar for its figure.

Income statement (profit and loss)

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Revenue2,3202,1072,273+10.1%+2.1%
Cost of revenue1,137n/an/a
Gross profit1,183n/an/a
Gross margin51.0%n/an/a
Research and development190n/an/a
Selling, general and administrative368n/an/a
Operating income548451555+21.5%-1.3%
Operating margin23.6%21.4%24.4%
Interest expense55.0n/an/a
Pre-tax income518n/an/a
Income tax115n/an/a
Effective tax rate22.2%n/an/a
Net income401307412+30.6%-2.7%
Net margin17.3%n/an/a
Diluted EPS$2.31$1.76$2.37+31.3%-2.5%
$ million except per share.
Read moreFourth quarters are the year less the first three 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.

Cash flow

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Operating cash flow703n/an/a
Capital expenditure68.0n/an/a
Free cash flow635n/an/a
Free cash flow margin27.4%n/an/a
Cash from investing-217n/an/a
Cash from financing-250n/an/a
Depreciation and amortisation113105109+7.6%+3.7%
Share-based compensation35.0n/an/a
Buybacks131n/an/a
Dividends paid120n/an/a
Diluted shares, weighted174m174mn/a-0.3%
Shares outstanding at period end169m169m169m-0.2%-0.4%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ4 FY2021Q3 FY2021Q4 FY2020On the quarterOn the yearLast 8 quarters
Shareholders' equity-40.0-263-558
Non-controlling interest17.0n/an/a
Debt5,6935,6935,1750.0%+10.0%
Operating lease liabilities313n/an/a
Finance lease liabilities0.0n/an/a
Other liabilities6,206n/an/a
Total liabilities and equity12,189n/an/a
Fixed assets1,042n/an/a
Goodwill2,565n/an/a
Intangible assets1,105n/an/a
Investments209n/an/a
Cash and equivalents1,8741,6531,254+13.4%+49.4%
Receivables1,386n/an/a
Inventory788n/an/a
Other assets3,220n/an/a
Total assets12,189n/an/a

Questions

What was Motorola Solutions' revenue in Q4 FY2021?

Motorola Solutions (MSI) reported revenue of $2.3 billion for Q4 FY2021, the quarter ended 31 December 2021, up 2.1% on the same quarter a year earlier.

How much did Motorola Solutions earn in Q4 FY2021?

Net income for Q4 FY2021 was $401 million, down 2.7% on the year, and diluted earnings per share $2.31.

When did Motorola Solutions report Q4 FY2021 results?

Motorola Solutions filed its 10-K for the year that ended with the quarter on 16 February 2022; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,3201,8922,1402,3732,7072,1712,4032,5562,8482,3892,6282,7903,0102,5282,7653,0093,3802,7143,1333,376
Cost of revenue1,1371,0351,1501,3421,3561,1251,2141,2761,3931,1971,2891,3571,4621,2281,3521,4551,6121,3521,4551,608
Gross profit1,1838579901,0311,3511,0461,1891,2801,4551,1921,3391,4331,5481,3001,4131,5541,7681,3621,6781,768
Gross margin51%45%46%43%50%48%49%50%51%50%51%51%51%51%51%52%52%50%54%52%
R&D190188191197203210215215218218220234245233231237269252260276
SG&A368338356378378368390380423397430439486436450485499439496504
Operating income548239358373691399518639738519644711814582692770944525809777
Operating margin24%13%17%16%26%18%22%25%26%22%25%25%27%23%25%26%28%19%26%23%
Interest expense55.058.059.062.061.063.063.060.063.061.087.073.074.069.071.0103117111109116
Pre-tax income518219300333663358487592709-90.0580695787547680725860441742678
Tax rate22%-22%24%16%11%22%23%21%16%n/a23%19%22%21%24%22%25%17%25%24%
Net income401267228279589278371464596-39.0443562611430513562649366557512
Net margin17%14%11%12%22%13%15%18%21%-2%17%20%20%17%19%19%19%13%18%15%
Diluted EPS$2.31$1.54$1.33$1.63$3.43$1.61$2.15$2.70$3.47-$0.23$2.60$3.29$3.56$2.53$3.04$3.33$3.86$2.18$3.33$3.06
Operating cash flow70315210.03881,273-8.093.07141,2453821807591,0705102737981,256451469662
Capital expenditure68.054.059.070.073.054.053.065.081.046.068.057.086.037.048.066.011462.055.073.0
Free cash flow63598.0-49.03181,200-62.040.06491,1643361127029844732257321,142389414589
Buybacks13149316294.087.014022430613439.071.031.010332521812149011833194.0
Dividends paid120134132132132148148147146163163164164182182182182201201200
Shares outstanding169m168m167m168m168m168m167m166m166m167m167m167m167m167m167m167m166m166m166m166m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* 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. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. 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.

10-K for the period ended 31 December 2021, filed 16 February 2022: the filing.