Financials · MSI

Motorola Solutions Inc. (MSI) financials

For the twelve months ended Oct 3, 2026, Motorola Solutions Inc. reported $12.60B of revenue and $2.08B of net income.

Revenue, TTM
$12.60B
Revenue growth, YoY
+11.4%
Net income, TTM
$2.08B
Net income growth, YoY
-1.5%
Net margin
16.5%
Free cash flow, TTM
$2.53B
EPS, diluted, TTM
$12.42
EPS growth, YoY
-0.4%
Cash
$774.00M
Total debt
$10.11B
P/E
40.82
P/S
6.75
Market cap
$85.07B
Annual revenue$11.68B
FY2016FY2025
Annual net income$2.15B
FY2016FY2025
Annual free cash flow$2.57B
FY2016FY2025

MSI revenue and earnings growth

MSI revenueQ3 2026$3.38B

Quarter YoY
+12.2%
QoQ
+7.8%
FY YoY
+8.0%
5Y CAGR
+9.5%
10Y CAGR
+7.4%

MSI revenue was $3.38B in fiscal Q3 2026 (ended Oct 3, 2026), up 12.2% from a year earlier and up 7.8% from the prior quarter. For the full fiscal 2025 it was $11.68B, up 8.0% from fiscal 2024. Compound annual growth was +9.5% over 5 years and +7.4% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MSI net incomeQ3 2026$512.00M

Quarter YoY
-8.9%
QoQ
-8.1%
FY YoY
+36.6%
5Y CAGR
+17.8%
10Y CAGR
+13.4%

MSI net income was $512.00M in fiscal Q3 2026 (ended Oct 3, 2026), down 8.9% from a year earlier and down 8.1% from the prior quarter. For the full fiscal 2025 it was $2.15B, up 36.6% from fiscal 2024. Compound annual growth was +17.8% over 5 years and +13.4% over 10 years. It rose in 5 of the last 7 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MSI EPSQ3 2026$3.06

Quarter YoY
-8.1%
QoQ
-8.1%
FY YoY
+38.1%
5Y CAGR
+18.5%
10Y CAGR
+15.5%

MSI diluted EPS was $3.06 in fiscal Q3 2026 (ended Oct 3, 2026), down 8.1% from a year earlier and down 8.1% from the prior quarter. For the full fiscal 2025 it was $12.75, up 38.1% from fiscal 2024. Compound annual growth was +18.5% over 5 years and +15.5% over 10 years.

MSI free cash flowQ3 2026$589.00M

Quarter YoY
-19.5%
QoQ
+42.3%
FY YoY
+20.5%
5Y CAGR
+13.0%
10Y CAGR
+11.8%

MSI free cash flow was $589.00M in fiscal Q3 2026 (ended Oct 3, 2026), down 19.5% from a year earlier and up 42.3% from the prior quarter. For the full fiscal 2025 it was $2.57B, up 20.5% from fiscal 2024. Compound annual growth was +13.0% over 5 years and +11.8% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$11.68B$10.82B$9.98B$9.11B$8.17B$7.41B$7.89B$7.34B$6.38B$6.04B
Cost of revenue$5.65B$5.30B$5.01B$4.88B$4.13B$3.81B$3.96B$3.86B$3.36B$3.17B
Gross profit$6.04B$5.51B$4.97B$4.23B$4.04B$3.61B$3.93B$3.48B$3.02B$2.87B
Research and development$970.00M$917.00M$858.00M$779.00M$734.00M$686.00M$687.00M$637.00M$568.00M$553.00M
Selling, general and admin$1.87B$1.75B$1.56B$1.45B$1.35B$1.29B$1.40B$1.25B$1.02B$1.04B
Operating income$2.99B$2.69B$2.29B$1.66B$1.67B$1.38B$1.58B$1.25B$1.28B$1.05B
Interest expense$360.00M$295.00M$249.00M$240.00M$215.00M$233.00M$237.00M$240.00M$215.00M$225.00M
Pre-tax income$2.81B$1.97B$2.15B$1.51B$1.55B$1.17B$1.00B$1.10B$1.08B$844.00M
Income tax$652.00M$390.00M$432.00M$148.00M$302.00M$221.00M$130.00M$133.00M$1.23B$282.00M
Net income$2.15B$1.58B$1.71B$1.36B$1.25B$949.00M$868.00M$966.00M-$155.00M$560.00M
EPS, basic$12.93$9.45$10.23$8.14$7.36$5.58$5.21$5.95-$0.95$3.30
EPS, diluted$12.75$9.23$9.93$7.93$7.17$5.45$4.95$5.62-$0.95$3.24
Diluted shares169.0M170.8M172.1M171.9M173.6M174.1M175.6M172.0M162.9M173.1M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$1.17B$2.10B$1.71B$1.32B$1.87B$1.25B$1.00B$1.26B$1.27B$1.03B
Receivables$2.20B$1.95B$1.71B$1.52B$1.39B$1.39B$1.41B$1.29B$1.52B$1.41B
Inventory$983.00M$766.00M$827.00M$1.05B$788.00M$508.00M$447.00M$356.00M$327.00M$273.00M
Current assets$6.30B$6.48B$5.72B$5.25B$5.41B$4.33B$4.18B$4.27B$3.95B$3.47B
Goodwill$6.80B$3.53B$3.40B$3.31B$2.56B$2.22B$2.07B$1.51B$938.00M$728.00M
Total assets$19.39B$14.60B$13.34B$12.81B$12.19B$10.88B$10.64B$9.41B$8.21B$8.46B
Current liabilities$6.08B$5.05B$5.74B$4.56B$4.06B$3.49B$3.44B$3.10B$2.93B$2.67B
Short-term debt$749.00M$322.00M$1.31B$1.00M$5.00M$12.00M$16.00M$31.00M$52.00M$4.00M
Long-term debt$8.41B$5.67B$4.71B$6.01B$5.69B$5.16B$5.11B$5.29B$4.42B$4.39B
Total debt$9.16B$6.00B$6.02B$6.01B$5.69B$5.17B$5.13B$5.32B$4.47B$4.40B
Total liabilities$16.96B$12.88B$12.60B$12.68B$12.21B$11.42B$11.32B$10.69B$9.94B$9.41B
Shareholders' equity$2.41B$1.70B$724.00M$116.00M-$40.00M-$558.00M-$700.00M-$1.29B-$1.74B-$964.00M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$2.84B$2.39B$2.04B$1.82B$1.84B$1.61B$1.82B$1.07B$1.35B$1.17B
Capital expenditures$265.00M$257.00M$253.00M$256.00M$243.00M$217.00M$248.00M$197.00M$227.00M$271.00M
Free cash flow$2.57B$2.13B$1.79B$1.57B$1.59B$1.40B$1.57B$878.00M$1.12B$894.00M
Investing cash flow-$5.16B-$507.00M-$414.00M-$1.39B-$742.00M-$437.00M-$934.00M-$1.27B-$448.00M-$1.00B
Financing cash flow$1.31B-$1.45B-$1.29B-$906.00M-$429.00M-$966.00M-$1.14B$220.00M-$722.00M-$1.04B
Dividends paid$728.00M$654.00M$589.00M$530.00M$482.00M$436.00M$379.00M$337.00M$307.00M$280.00M
Share repurchases$1.15B$244.00M$804.00M$836.00M$528.00M$612.00M$315.00M$132.00M$483.00M$842.00M
Stock-based compensation$293.00M$243.00M$212.00M$172.00M$129.00M$129.00M$118.00M$73.00M$66.00M$68.00M
Depreciation and amortization$425.00M$336.00M$356.00M$440.00M$438.00M$409.00M$394.00M$360.00M$343.00M$295.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY8.0%8.4%9.5%11.5%10.2%-6.0%7.4%15.1%5.7%6.0%
Net income growth, YoY36.6%-7.7%25.4%9.5%31.2%9.3%-10.1%---8.2%
EPS growth, YoY38.1%-7.0%25.2%10.6%31.6%10.1%-11.9%--7.3%
Gross margin51.7%51.0%49.8%46.4%49.4%48.7%49.8%47.4%47.4%47.5%
Operating margin25.6%24.8%23.0%18.2%20.4%18.7%20.0%17.1%20.1%17.4%
Net margin18.4%14.6%17.1%15.0%15.2%12.8%11.0%13.2%-2.4%9.3%
Free cash flow margin22.0%19.7%17.9%17.2%19.5%18.8%20.0%12.0%17.5%14.8%
Return on equity89.4%92.6%236.0%1175.0%------
Return on assets11.1%10.8%12.8%10.6%10.2%8.7%8.2%10.3%-1.9%6.6%
Current ratio1.041.281.001.151.331.241.211.381.351.30
Debt to equity3.803.528.3151.84------

Source: XBRL data Motorola Solutions Inc. files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures and share counts are restated for stock splits the filings show: 1-for-7, first reported Feb 18, 2011.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MSI peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MSI$12.60B+11.4%$2.08B16.5%$85.07B
QCOM$43.12B-2.6%$13.63B31.6%$176.99B
NOK€19.89B+3.5%€651.00M3.3%$43.99B
UI$3.27B+27.2%$960.30M29.3%$35.87B
ERICSEK 236.68B-4.5%SEK 28.43B12.0%$34.57B
PL$378.28M+44.1%-$359.87M-95.1%$4.56B
ONDS$174.10M+979.3%$167.06M96.0%$3.11B
VISN$1.63B+10.9%$8.19B504.0%$1.27B
HLIT$360.52M-26.2%-$43.31M-12.0%$1.04B

MSI FAQ

9 questions
  • What is MSI revenue?
    Motorola Solutions Inc. (MSI) reported $12.60B of revenue for the twelve months ended Oct 3, 2026. That is up 11.4% from the year before. Revenue for fiscal 2025 was $11.68B.
  • Is MSI profitable?
    Yes. Motorola Solutions Inc. earned $2.08B in net income for the twelve months ended Oct 3, 2026, a net margin of 16.5%.
  • How much cash and debt does MSI have?
    Motorola Solutions Inc. reported $774.00M in cash and cash equivalents and $10.11B of debt on its most recent balance sheet in SEC filings.
  • How fast is MSI revenue growing?
    Motorola Solutions Inc.'s revenue changed +8.0% in fiscal 2025, to $11.68B. Its compound annual growth rate was +9.5% over 5 years and +7.4% over 10 years.
  • What is MSI gross margin?
    Motorola Solutions Inc.'s gross profit was $6.58B on $12.60B of revenue for the twelve months ended Oct 3, 2026, a gross margin of 52.2%.
  • What is MSI free cash flow?
    Motorola Solutions Inc. generated $2.53B of free cash flow for the twelve months ended Oct 3, 2026, which is operating cash flow of $2.84B less capital expenditures.
  • What is MSI earnings per share?
    Diluted earnings per share were $12.42 for the twelve months ended Oct 3, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MSI last report financial results?
    The latest statements here come from Motorola Solutions Inc.'s 10-Q filed on Nov 4, 2026, covering the period ended Oct 3, 2026.
  • Where does this MSI financial data come from?
    Quantisnow builds these statements from the structured XBRL data Motorola Solutions Inc. files with the SEC. It is provided for information only and is not investment advice.