Motorola Solutions, Inc.MSI

Motorola Solutions, Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Motorola Solutions ended FY2025 sitting on a massive $15.7 billion backlog, a figure that dwarfs its annual sales and provides exceptional near-term revenue visibility. This metric underscores a broader investment thesis: the company is successfully pivoting from legacy radio hardware into a high-margin, integrated ecosystem of mission-critical software, video, and network technology. This transformation is highly visible over a multi-year timeline. Revenue grew steadily from $8.2 billion in FY2021 to $11.7 billion in FY2025, driven by compounding demand across both its physical products and software segments.

Profitability has scaled much faster than the top line. Operating earnings jumped from $1.7 billion in FY2021 to $3.0 billion in FY2025, demonstrating serious operational leverage as gross margins expanded to 49.8% by FY2023 and hit 51.4% in Q1 2025. Management continues to aggressively funnel cash into strategic growth and shareholder returns. In FY2025, the company executed a landmark $4.4 billion acquisition of Silvus Technologies to expand its mobile networking capabilities, while simultaneously returning $1.9 billion to shareholders via dividends and share repurchases. The market has rewarded this combination of aggressive capital deployment and expanding margins. At the close of FY2025, the stock traded at $383.32, commanding a $63.5 billion market cap and a 30.1x P/E ratio.

Recent Developments (Q4 2025 and Q2 2026)

Motorola Solutions posted divergent top- and bottom-line results in Q1 2026, following a strong finish to Q4 2025 that included an 11% dividend increase to $1.21. Net sales rose 7% year-over-year to $2.714 billion, driven by an 18% surge in Software and Services. This offset a sluggish 1% gain in Products and Systems Integration, which suffered a 10% revenue drop in North America.

Operating earnings declined 10% to $525 million during the quarter, dragged down by a $75 million earnout charge. In governance news, the company appointed Peter A. Leav to the board on March 12, 2026. Bulls will highlight the 35% international hardware sales growth as proof of successful global expansion. Bears will point to deteriorating profitability and rising interest expenses, which pushed net earnings down to $366 million. At a 34.0x P/E ratio as of the May 7, 2026 reporting date, the stock appears richly valued given the recent contraction in operating profits.

What to watch: North American hardware sales recovery; impact of rising debt costs on operating cash flow.

Rev

$11.68B

+8.0% YoY

FY2025

NI

$2.15B

+36.6% YoY

FY2025

EPS

$12.93

+36.8% YoY

FY2025

OCF

$2.84B

+18.7% YoY

FY2025

Revenue Trend
Beta

Year-over-year comparison from 10-K annual reports

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Data from SEC Company Facts

All MSI Financial Metrics(61)

Recent SEC Filings

Motorola Solutions, Inc. 8-K Report, Corporate Update (Aug 17, 2026)

Motorola Solutions, Inc. announced the successful closing of a public offering of senior notes totaling $950 million. This offering includes $350 million in aggregate principal amount of 4.850% senior notes due 2029 and $600 million in aggregate principal amount of 5.650% senior notes due 2036. The issuance was conducted under an underwriting agreement dated August 6, 2026, and pursuant to an existing indenture supplemented by an officers' certificate dated August 17, 2026. The notes were registered on Form S-3. This debt issuance provides a significant capital infusion for Motorola Solutions, likely to support ongoing strategic initiatives, investments, or general corporate purposes. Investors should note the specific interest rates and maturity dates of these new notes, which will impact the company's future interest expense and debt profile. The company has made the relevant underwriting agreement, indenture, officers' certificate, and specimen notes available as exhibits to this filing for detailed review.

Motorola Solutions, Inc. 8-K Report, Financial Results (Aug 5, 2026)

Motorola Solutions, Inc. (MSI) has filed an 8-K report on August 5, 2026, primarily to furnish a press release detailing its financial results for the fiscal quarter ended July 4, 2026. This filing does not contain new material information beyond what is presented in the press release, which is attached as Exhibit 99.1. Investors should refer to Exhibit 99.1 for the specific financial performance details of the quarter. The company has also included the Cover Page Interactive Data File as Exhibit 104. This report serves as a notification mechanism for investors regarding the company's quarterly performance. While the 8-K itself is procedural, the underlying press release is expected to contain key metrics such as revenue, earnings per share (EPS), segment performance, and potentially forward-looking guidance. Investors are advised to review the furnished press release for a comprehensive understanding of MSI's operational and financial condition as of and for the period ending July 4, 2026.

Motorola Solutions, Inc. 8-K Report, Shareholder Vote Results (May 20, 2026)

Motorola Solutions, Inc. (MSI) filed an 8-K on May 20, 2026, reporting the outcomes of its 2026 Annual Meeting of Shareholders held on May 18, 2026. The primary focus of this filing is the shareholder vote on key corporate governance matters and the ratification of the company's auditor. Investors can take comfort in the overwhelming support for the election of all director nominees and the ratification of PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2026. These results indicate strong shareholder confidence in the current leadership and financial oversight of the company. While the shareholder vote on executive compensation was approved on an advisory basis, it garnered a lower, though still majority, level of support compared to director elections and auditor ratification. This provides a point of consideration for investors evaluating management's compensation structure and its alignment with shareholder interests. Overall, the filing confirms stability in board composition and financial auditing practices.

Motorola Solutions, Inc. 8-K Report, Financial Results (May 7, 2026)

Motorola Solutions, Inc. (MSI) has filed an 8-K report on May 7, 2026, primarily to furnish a press release detailing its financial results for the first quarter ended April 4, 2026. While the filing itself doesn't contain the specific financial figures, it directs investors to the accompanying press release (Exhibit 99.1) for comprehensive details on performance. This is a standard procedure for announcing quarterly earnings and provides investors with crucial, albeit indirectly presented, data on the company's operational and financial standing.

Motorola Solutions, Inc. 8-K Report, Executive Changes (Mar 12, 2026)

Motorola Solutions, Inc. (MSI) announced a change to its Board of Directors on March 12, 2026, via an 8-K filing. The Board's size has been expanded from eight to nine members with the appointment of Peter A. Leav as a new director. Mr. Leav, currently a Senior Advisor at TPG Inc., will also serve as a member of the Compensation and Leadership Committee. His appointment is effective immediately and he will serve until the Company's 2026 Annual Meeting. This expansion and addition to a key committee signals a continued focus on governance and leadership expertise, particularly in areas relevant to strategic growth and executive compensation. Investors should note that Mr. Leav's compensation will align with the standard non-employee director arrangements, detailed in previous proxy filings, and he has no disclosed material interests in related party transactions.

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