Motorola Solutions (MSI) FY2021 results: revenue $8.2 billion, up 10.2% on the year
Motorola Solutions, Inc. (MSI) reported revenue of $8.2 billion for fiscal 2021, the year ended 31 December 2021, up 10.2% on the year before. Net income was $1.2 billion, up 31.2%, and diluted earnings per share $7.17. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2022.
Revenue
$8.2 billion
+10.2% on the year
FY2014FY2021
Operating margin
20.4%
18.7% a year earlier
FY2014FY2021
Net income
$1.2 billion
+31.2% on the year
FY2014FY2021
Diluted EPS
$7.17
+31.6% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,837
1,613
1,823
+13.9%
Capital expenditure
243
217
248
+12.0%
Free cash flow
1,594
1,396
1,575
+14.2%
Free cash flow margin
19.5%
18.8%
20.0%
Cash from investing
-742
-437
-934
Cash from financing
-429
-966
-1,144
Depreciation and amortisation
438
409
394
+7.1%
Share-based compensation
129
129
118
0.0%
Buybacks
528
612
315
-13.7%
Dividends paid
482
436
379
+10.6%
Dividend per share
$2.92
$2.63
$2.35
+11.0%
Diluted shares, weighted
174m
174m
176m
-0.3%
Shares outstanding at period end
169m
169m
170m
-0.4%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
-40.0
-558
-700
Non-controlling interest
17.0
17.0
17.0
0.0%
Debt
5,693
5,175
5,129
+10.0%
Operating lease liabilities
313
402
497
-22.1%
Finance lease liabilities
0.0
5.0
16.0
Other liabilities
6,206
5,835
5,683
+6.4%
Total liabilities and equity
12,189
10,876
10,642
+12.1%
Fixed assets
1,042
1,022
992
+2.0%
Goodwill
2,565
2,219
2,067
+15.6%
Intangible assets
1,105
1,234
1,327
-10.5%
Investments
209
158
159
+32.3%
Cash and equivalents
1,874
1,254
1,001
+49.4%
Receivables
1,386
1,390
1,412
-0.3%
Inventory
788
508
447
+55.1%
Other assets
3,220
3,091
3,237
+4.2%
Total assets
12,189
10,876
10,642
+12.1%
10-K for the year ended 31 December 2021, filed 16 February 2022: the filing.