Motorola Solutions (MSI) FY2024 results: revenue $10.8 billion, up 8.4% on the year
Motorola Solutions, Inc. (MSI) reported revenue of $10.8 billion for fiscal 2024, the year ended 31 December 2024, up 8.4% on the year before. Net income was $1.6 billion, down 7.7%, and diluted earnings per share $9.23. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.
Revenue
$10.8 billion
+8.4% on the year
FY2017FY2024
Operating margin
24.8%
23.0% a year earlier
FY2017FY2024
Net income
$1.6 billion
-7.7% on the year
FY2017FY2024
Diluted EPS
$9.23
-7.0% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
2,391
2,044
1,823
+17.0%
Capital expenditure
257
253
256
+1.6%
Free cash flow
2,134
1,791
1,567
+19.2%
Free cash flow margin
19.7%
17.9%
17.2%
Cash from investing
-507
-414
-1,387
Cash from financing
-1,448
-1,295
-906
Depreciation and amortisation
336
356
440
-5.6%
Share-based compensation
243
212
172
+14.6%
Buybacks
244
804
836
-69.7%
Dividends paid
654
589
530
+11.0%
Dividend per share
$4.03
$3.62
$3.25
+11.3%
Diluted shares, weighted
171m
172m
172m
-0.8%
Shares outstanding at period end
167m
166m
168m
+0.5%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
1,703
724
116
+135.2%
Non-controlling interest
16.0
15.0
15.0
+6.7%
Short-term borrowings
0.0
n/a
n/a
Debt
5,997
6,018
6,014
-0.3%
Operating lease liabilities
427
407
419
+4.9%
Other liabilities
6,452
6,172
6,250
+4.5%
Total liabilities and equity
14,595
13,336
12,814
+9.4%
Fixed assets
1,022
964
927
+6.0%
Goodwill
3,526
3,401
3,312
+3.7%
Intangible assets
1,249
1,255
1,342
-0.5%
Investments
135
143
147
-5.6%
Cash and equivalents
2,102
1,705
1,325
+23.3%
Receivables
1,952
1,710
1,518
+14.2%
Inventory
766
827
1,055
-7.4%
Other assets
3,843
3,331
3,188
+15.4%
Total assets
14,595
13,336
12,814
+9.4%
10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.