MSI

MKT CAP:$73B

Motorola Solutions, Inc.

Market Cap

$73B

Technology·Communication Equipment·🇺🇸 United States·NYSE

Technology·Communication·🇺🇸·NYSE

Stock Price

$438.95+$57.93 (+15.20%)

Apr 24, 2026

Company Details

Motorola Solutions, Inc. provides mission critical communications and analytics in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and ...

CEO

Gregory Q. Brown

IPO Date

Mar 17, 1980

Website

www.motorolasolutions.com

Key Metrics TTM

Revenue

$11.7B

+8.0% YoY

Net Income

$2.2B

EPS (Diluted)

$12.76

Free Cash Flow

$2.6B

Revenue / Share

$69.49

Gross Margin

50.2%

Operating Margin

25.1%

Net Margin

18.4%

FCF Margin

22.0%

P/S

6.2x

P/E

33.9x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 12, 2026

$11.7B+8.0%EPS $12.76

Q4 2025

Feb 12, 2026

$3.4B+12.3%EPS $3.86

Q3 2025

Oct 30, 2025

$3.0B+7.8%EPS $3.33

Q2 2025

Aug 7, 2025

$2.8B+5.2%EPS $3.04

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$2.3B	$1.2B	$549M
Q1 22	$1.9B	$857M	$239M
Q2 22	$2.1B	$990M	$358M
Q3 22	$2.4B	$1.0B	$373M
Q4 22	$2.7B	$1.4B	$691M
Q1 23	$2.2B	$1.0B	$399M
Q3 23	$2.6B	$1.3B	$639M
Q4 23	$2.8B	$1.5B	$738M
Q1 24	$2.4B	$1.2B	$519M
Q2 24	$2.6B	$1.3B	$644M
Q3 24	$2.8B	$1.4B	$711M
Q4 24	$3.0B	$1.5B	$814M
Q1 25	$2.5B	$1.3B	$582M
Q2 25	$2.8B	$1.4B	$692M
Q3 25	$3.0B	$1.5B	$782M
Q4 25	$3.4B	$1.6B	$879M

Valuation

Quarter	P/S	P/E
Q4 21	5.3x	32.9x
Q1 22	5.0x	32.9x
Q2 22	4.3x	30.2x
Q3 22	4.4x	32.6x
Q4 22	4.9x	33.0x
Q1 23	5.1x	34.8x
Q3 23	4.6x	28.2x
Q4 23	5.1x	27.0x
Q1 24	5.9x	45.4x
Q2 24	6.2x	44.1x
Q3 24	7.1x	48.1x
Q4 24	7.2x	49.1x
Q1 25	6.7x	35.7x
Q2 25	6.3x	33.1x
Q3 25	6.7x	35.8x
Q4 25	5.4x	29.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$703M	$635M
Q1 22	$152M	$98M
Q2 22	$10M	-$49M
Q3 22	$388M	$318M
Q4 22	$1.3B	$1.2B
Q1 23	-$8M	-$62M
Q3 23	$714M	$649M
Q4 23	$1.2B	$1.2B
Q1 24	$382M	$336M
Q2 24	$180M	$112M
Q3 24	$759M	$702M
Q4 24	$1.1B	$984M
Q1 25	$510M	$473M
Q2 25	$273M	$225M
Q3 25	$798M	$732M
Q4 25	$1.3B	$1.1B

Capital Expenditures

Quarter	CapEx
Q4 21	$68M
Q1 22	$54M
Q2 22	$59M
Q3 22	$70M
Q4 22	$73M
Q1 23	$54M
Q3 23	$65M
Q4 23	$81M
Q1 24	$46M
Q2 24	$68M
Q3 24	$57M
Q4 24	$86M
Q1 25	$37M
Q2 25	$48M
Q3 25	$66M
Q4 25	$114M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+24.2%	+16.8%
Q1 22	-16.8%	-3.8%
Q2 22	+20.7%	+20.8%
Q3 22	+12.6%	+20.8%
Q4 22	+16.7%	+13.8%
Q1 23	+14.7%	+7.2%
Q3 23	+19.4%	+7.6%
Q4 23	+20.1%	+5.5%
Q1 24	-11.7%	-7.2%
Q2 24	+21.1%	+12.0%
Q3 24	+9.2%	+8.5%
Q4 24	+5.7%	+4.1%
Q1 25	+5.8%	+4.1%
Q2 25	+5.2%	+4.5%
Q3 25	+7.8%	+7.1%
Q4 25	+12.3%	+13.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$35M	1.5%
Q1 22	$37M	2.0%
Q2 22	$44M	2.1%
Q3 22	$45M	1.9%
Q4 22	$46M	1.7%
Q1 23	$55M	2.5%
Q3 23	$52M	2.0%
Q4 23	$52M	1.8%
Q1 24	$56M	2.3%
Q2 24	$63M	2.4%
Q3 24	$61M	2.2%
Q4 24	$63M	2.1%
Q1 25	$66M	2.6%
Q2 25	$74M	2.7%
Q3 25	$73M	2.4%
Q4 25	$80M	2.4%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q4 21	$189M	$368M	—
Q1 22	$188M	$338M	—
Q2 22	$191M	$356M	—
Q3 22	$197M	$378M	—
Q4 22	$202M	$381M	—
Q1 23	$210M	$368M	—
Q3 23	$215M	$380M	—
Q4 23	$218M	$423M	—
Q1 24	$218M	$397M	—
Q2 24	$220M	$430M	—
Q3 24	$234M	$439M	—
Q4 24	$246M	—	$487M
Q1 25	$233M	—	$436M
Q2 25	$231M	—	$450M
Q3 25	$237M	—	$483M
Q4 25	$270M	—	$499M

Revenue Segments

Quarter	Product	Service
Q4 21	$1.4B	$955M
Q1 22	$1.0B	$846M
Q2 22	$1.2B	$928M
Q3 22	$1.4B	$934M
Q4 22	$1.7B	$1.0B
Q1 23	$1.2B	$947M
Q3 23	$1.5B	$1.1B
Q4 23	$1.8B	$1.1B
Q1 24	$1.4B	$984M
Q2 24	$1.6B	$1.1B
Q3 24	$1.7B	$1.1B
Q4 24	$1.8B	$1.2B
Q1 25	$1.4B	$1.1B
Q2 25	$1.5B	$1.2B
Q3 25	$1.8B	$1.3B
Q4 25	$2.0B	$1.3B

Revenue by Geography

Quarter	International	North America	United Kingdom
Q4 21	$706M	$1.6B	—
Q1 22	$587M	$1.3B	—
Q2 22	$656M	$1.5B	—
Q3 22	$686M	$1.7B	—
Q4 22	$809M	$1.9B	—
Q1 23	$679M	$1.5B	—
Q3 23	$773M	$1.8B	—
Q4 23	$832M	$2.0B	—
Q1 24	$696M	$1.7B	—
Q2 24	$711M	$1.9B	—
Q3 24	$783M	$2.0B	—
Q4 24	$807M	$2.2B	—
Q1 25	$676M	$1.9B	—
Q2 25	$738M	$2.0B	—
Q3 25	$888M	$2.1B	—
Q4 25	$415M	$2.4B	$603M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$878M	$0	$878M
Q2 22	$717M	$0	$717M
Q3 22	$822M	$0	$822M
Q4 22	$1.3B	$0	$1.3B
Q1 23	$1.0B	$0	$1.0B
Q2 23	$710M	$0	$710M
Q3 23	$910M	$0	$910M
Q4 23	$1.7B	$0	$1.7B
Q1 24	$1.5B	$0	$1.5B
Q2 24	$1.4B	$0	$1.4B
Q3 24	$1.4B	$0	$1.4B
Q4 24	$2.1B	$0	$2.1B
Q1 25	$1.6B	$0	$1.6B
Q2 25	$3.2B	$0	$3.2B
Q3 25	$894M	$0	$894M
Q4 25	$1.2B	$0	$1.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	174M	+0.1%	+0.4%
Q1 22	173M	-0.6%	-0.2%
Q2 22	171M	-1.3%	-1.3%
Q3 22	172M	+0.4%	-1.5%
Q4 22	172M	+0.2%	-1.3%
Q1 23	173M	+0.4%	-0.3%
Q3 23	172M	-0.5%	+0.5%
Q4 23	172M	-0.1%	0.0%
Q1 24	166M	-3.0%	-3.3%
Q2 24	170M	+2.4%	-1.3%
Q3 24	171M	+0.4%	-0.5%
Q4 24	171M	-0.1%	-0.4%
Q1 25	170M	-0.6%	+2.1%
Q2 25	169M	-0.6%	-0.9%
Q3 25	169M	+0.1%	-1.1%
Q4 25	168M	-0.5%	-1.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$124.1K	19K
Q1 22	$101.2K	19K
Q2 22	$114.4K	19K
Q3 22	$126.9K	19K
Q4 22	$135.3K	20K
Q1 23	$108.5K	20K
Q3 23	$127.8K	20K
Q4 23	$135.7K	21K
Q1 24	$113.8K	21K
Q2 24	$125.1K	21K
Q3 24	$132.9K	21K
Q4 24	$143.4K	21K
Q1 25	$120.4K	21K
Q2 25	$131.7K	21K
Q3 25	$143.3K	21K
Q4 25	$147.0K	23K

Revenue / Employee