Motorola Solutions (MSI) Q4 FY2025 earnings: revenue $3.4 billion, up 12.3% on the year

Motorola Solutions, Inc. (MSI) reported revenue of $3.4 billion for Q4 FY2025, the quarter ended 31 December 2025, up 12.3% on the same quarter a year earlier. Net income was $649 million, up 6.2% on the year, and diluted earnings per share $3.86. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2026.

Revenue

$3.4 billion

+12.3% on the year · +12.3% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

27.9%

27.0% a year earlier

Q1 FY2024Q4 FY2025

Net income

$649 million

+6.2% on the year · +15.5% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$3.86

+8.4% on the year · +15.9% on the quarter

Q1 FY2024Q4 FY2025

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

What management said

Guidance figures: 6 new.

Record full-year revenue, earnings, cash flow: Full-year sales were $11.7 billion, up 8%, and the release reports record revenue, earnings, cash flow and ending backlog.
Fourth-quarter sales rose 12%: Q4 sales were $3.4 billion, up 12%, including $188 million of acquisition revenue and $30 million from favorable currency.
Non-GAAP EPS rose in Q4: Q4 non-GAAP EPS was $4.59, up 14%, and GAAP EPS was $3.86, up 8%. Full-year non-GAAP EPS was $15.38, up 11%, and GAAP EPS $12.75, up 38%.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	3,380	3,009	3,010	+12.3%	+12.3%
Cost of revenue	1,612	1,455	1,462	+10.8%	+10.3%
Gross profit	1,768	1,554	1,548	+13.8%	+14.2%
Gross margin	52.3%	51.6%	51.4%
Research and development	269	237	245	+13.5%	+9.8%
Selling, general and administrative	499	485	486	+2.9%	+2.7%
Operating income	944	770	814	+22.6%	+16.0%
Operating margin	27.9%	25.6%	27.0%
Interest expense	117	103	74.0	+13.6%	+58.1%
Pre-tax income	860	725	787	+18.6%	+9.3%
Income tax	211	161	175	+31.1%	+20.6%
Effective tax rate	24.5%	22.2%	22.2%
Net income	649	562	611	+15.5%	+6.2%
Net margin	19.2%	18.7%	20.3%
Diluted EPS	$3.86	$3.33	$3.56	+15.9%	+8.4%

$ million except per share.

Fourth 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

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	1,256	798	1,070	+57.4%	+17.4%
Capital expenditure	114	66.0	86.0	+72.7%	+32.6%
Free cash flow	1,142	732	984	+56.0%	+16.1%
Free cash flow margin	33.8%	24.3%	32.7%
Cash from investing	-192	-4,435	-107
Cash from financing	-802	1,333	-214
Depreciation and amortisation	143	115	86.0	+24.3%	+66.3%
Share-based compensation	80.0	73.0	63.0	+9.6%	+27.0%
Buybacks	490	121	103	+305.0%	+375.7%
Dividends paid	182	182	164	0.0%	+11.0%
Dividend per share	n/a	$1.09	$1.09
Diluted shares, weighted	168m	169m	171m	-0.5%	-1.9%
Shares outstanding at period end	166m	167m	167m	-0.6%	-0.8%

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

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	2,410	2,327	1,703	+3.6%	+41.5%
Non-controlling interest	17.0	17.0	16.0	0.0%	+6.2%
Short-term borrowings	n/a	n/a	0.0
Debt	9,162	9,339	5,997	-1.9%	+52.8%
Operating lease liabilities	471	469	427	+0.4%	+10.3%
Other liabilities	7,329	6,647	6,452	+10.3%	+13.6%
Total liabilities and equity	19,389	18,799	14,595	+3.1%	+32.8%
Fixed assets	1,165	n/a	1,022		+14.0%
Goodwill	6,800	6,776	3,526	+0.4%	+92.9%
Intangible assets	3,104	3,131	1,249	-0.9%	+148.5%
Investments	187	192	135	-2.6%	+38.5%
Cash and equivalents	1,165	894	2,102	+30.3%	-44.6%
Receivables	2,200	2,018	1,952	+9.0%	+12.7%
Inventory	983	943	766	+4.2%	+28.3%
Other assets	3,785	4,845	3,843	-21.9%	-1.5%
Total assets	19,389	18,799	14,595	+3.1%	+32.8%

Questions

What was Motorola Solutions' revenue in Q4 FY2025?

Motorola Solutions (MSI) reported revenue of $3.4 billion for Q4 FY2025, the quarter ended 31 December 2025, up 12.3% on the same quarter a year earlier.

How much did Motorola Solutions earn in Q4 FY2025?

Net income for Q4 FY2025 was $649 million, up 6.2% on the year, and diluted earnings per share $3.86.

When did Motorola Solutions report Q4 FY2025 results?

Motorola Solutions filed its 10-K for the year that ended with the quarter on 12 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,320	1,892	2,140	2,373	2,707	2,171	2,403	2,556	2,848	2,389	2,628	2,790	3,010	2,528	2,765	3,009	3,380	2,714	3,133	3,376
Cost of revenue	1,137	1,035	1,150	1,342	1,356	1,125	1,214	1,276	1,393	1,197	1,289	1,357	1,462	1,228	1,352	1,455	1,612	1,352	1,455	1,608
Gross profit	1,183	857	990	1,031	1,351	1,046	1,189	1,280	1,455	1,192	1,339	1,433	1,548	1,300	1,413	1,554	1,768	1,362	1,678	1,768
Gross margin	51%	45%	46%	43%	50%	48%	49%	50%	51%	50%	51%	51%	51%	51%	51%	52%	52%	50%	54%	52%
R&D	190	188	191	197	203	210	215	215	218	218	220	234	245	233	231	237	269	252	260	276
SG&A	368	338	356	378	378	368	390	380	423	397	430	439	486	436	450	485	499	439	496	504
Operating income	548	239	358	373	691	399	518	639	738	519	644	711	814	582	692	770	944	525	809	777
Operating margin	24%	13%	17%	16%	26%	18%	22%	25%	26%	22%	25%	25%	27%	23%	25%	26%	28%	19%	26%	23%
Interest expense	55.0	58.0	59.0	62.0	61.0	63.0	63.0	60.0	63.0	61.0	87.0	73.0	74.0	69.0	71.0	103	117	111	109	116
Pre-tax income	518	219	300	333	663	358	487	592	709	-90.0	580	695	787	547	680	725	860	441	742	678
Tax rate	22%	-22%	24%	16%	11%	22%	23%	21%	16%	n/a	23%	19%	22%	21%	24%	22%	25%	17%	25%	24%
Net income	401	267	228	279	589	278	371	464	596	-39.0	443	562	611	430	513	562	649	366	557	512
Net margin	17%	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 flow	703	152	10.0	388	1,273	-8.0	93.0	714	1,245	382	180	759	1,070	510	273	798	1,256	451	469	662
Capital expenditure	68.0	54.0	59.0	70.0	73.0	54.0	53.0	65.0	81.0	46.0	68.0	57.0	86.0	37.0	48.0	66.0	114	62.0	55.0	73.0
Free cash flow	635	98.0	-49.0	318	1,200	-62.0	40.0	649	1,164	336	112	702	984	473	225	732	1,142	389	414	589
Buybacks	131	493	162	94.0	87.0	140	224	306	134	39.0	71.0	31.0	103	325	218	121	490	118	331	94.0
Dividends paid	120	134	132	132	132	148	148	147	146	163	163	164	164	182	182	182	182	201	201	200
Shares outstanding	169m	168m	167m	168m	168m	168m	167m	166m	166m	167m	167m	167m	167m	167m	167m	167m	166m	166m	166m	166m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 2025, filed 12 February 2026: the filing.