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Motorola Solutions, Inc.MSI

Sector
Technology
Industry
Radio & Tv Broadcasting & Communications Equipment
Exchange
NYSE

Stock Price $MSI

Latest filings

You are here#43 of 67 in Technology by market cap

Filing record · 2016–202610-K1110-Q328-K124

MSI filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 124 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Apr ’17Apr ’17
  2. Material agreement8-K · Sep ’19Sep ’19
  3. Leadership change8-K · Mar ’22Mar ’22
  4. Leadership change8-K · Nov ’25Nov ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

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

  19. $11.68B
YoY changeLargest recent move+15.1%in FY18Latest +8.0%

3 older moves run past ±20% (largest −72.3%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All MSI Financial Metrics61 metrics

Income Statement15

Balance Sheet28

Cash Flow13

Per Share5

02—Overview

Motorola Solutions, Inc. Financial Overview 2021–2025

Updated Jul 10, 2026

Motorola Solutions ended FY2025 sitting on a massive $15.7 billiona 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 billionb 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 $1.21c. 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 milliond 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.

03—Filings

Recent SEC Filings

  1. 8-KMotorola Solutions, Inc. 8-K Report, Corporate Update (Sep 9, 2026)Motorola Solutions (NYSE: MSI) announced on September 9, 2026 that its Board of Directors approved a $2.0 billion increase to its share repurchase program, bringing the total authorization since July 2011 to $20 billion. The program has no expiration date, so the company can repurchase shares without a set deadline. The increase replenishes capacity that was nearly exhausted. The filing states that about $17.4 billion had been repurchased under the prior $18 billion authorization through July 4, 2026, and the press release says roughly $0.6 billion of authority remained at the end of the second quarter of 2026. The new $2.0 billion adds to that remaining amount. Repurchases may be made in the open market or through privately negotiated transactions, subject to market conditions. The filing does not set a pace or timetable for buybacks. For investors, the announcement signals continued confidence in capital returns and a willingness to deploy cash to shareholders. It does not disclose new financial results, guidance, or changes to operations. The filing is an Item 8.01 Other Event, so the main value to investors is the expanded buyback capacity and its open-ended term.
  2. 8-KMotorola 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.
  3. 8-KMotorola Solutions, Inc. 8-K Report, Financial Results (Aug 5, 2026)Motorola Solutions reported strong second-quarter 2026 results, with sales of $3.13 billion, up 13% year over year. Organic revenue grew a more modest 5% to $2.89 billion, as acquisitions contributed $243 million and foreign currency added $35 million. GAAP EPS rose 10% to $3.33, and non-GAAP EPS rose 24% to $4.41. Both figures include a $60 million pre-tax benefit ($0.25 per share) from IEEPA tariff refunds, which the company recognized as a one-time item within cost of sales. Gross margin expanded to 53.6% from 51.1%, and operating cash flow nearly doubled to $469 million, lifting free cash flow to $414 million. Record Q2 backlog reached $15.6 billion, up 11%, which supports visibility into the second half. Management raised its full-year 2026 outlook. Revenue guidance rose to approximately $12.975 billion from $12.8 billion, and non-GAAP EPS guidance rose to $17.62 to $17.72 from $16.87 to $16.99. The third-quarter outlook calls for roughly 8% revenue growth and non-GAAP EPS of $4.39 to $4.44. The company also agreed to acquire D-Fend Solutions, a counter-drone technology provider, for $1.5 billion. Investors should weigh the one-time tariff refund benefit and the non-GAAP adjustments, which excluded roughly $1.08 per share of items in the quarter. Rising AI-driven memory costs and higher inventory ($1.33 billion, up from $983 million at year-end) are the main operational risks flagged. Interest expense more than doubled to $103 million from $55 million, reflecting higher debt levels, and total debt stood at about $9.0 billion at quarter-end. Cash fell to $710 million. Capital returns remained significant, with $326 million in share repurchases and $201 million in dividends during the quarter.
  4. 8-KMotorola 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.
  5. 8-KMotorola Solutions, Inc. 8-K Report, Financial Results (May 7, 2026)Motorola Solutions reported first-quarter 2026 sales of $2.714 billion, up 7% year over year, with record Q1 ending backlog of $15.7 billion (up 11%). Growth was driven mostly by acquisitions ($222 million of sales from businesses owned less than four quarters) and a $60 million foreign currency tailwind. Organic revenue fell 1%. Software and Services sales rose 18% to $1.155 billion, while Products and Systems Integration sales rose only 1% to $1.559 billion. GAAP diluted EPS fell 14% to $2.18, mainly due to a $75 million non-cash increase in the contingent Silvus earnout and higher intangibles amortization. Non-GAAP EPS rose 6% to $3.37. Non-GAAP operating margin improved 50 basis points to 28.8%, though Products and Systems Integration non-GAAP margin fell to 24.8% from 28.1%, reflecting higher supply chain and memory costs. Management raised full-year 2026 guidance to approximately $12.8 billion in revenue (from $12.7 billion) and non-GAAP EPS of $16.87 to $16.99 (from $16.70 to $16.85). Q2 guidance calls for about 8.5% revenue growth and non-GAAP EPS of $3.82 to $3.88. Cash generation weakened: operating cash flow was $451 million (vs. $510 million) and free cash flow was $389 million (vs. $473 million), due to inventory build and higher interest and tax payments. Net interest expense more than doubled to $104 million from $51 million. The company paid $201 million in dividends and repurchased $118 million of stock, repaid $200 million of Silvus term loans (leaving $1.3 billion), and agreed to buy Bell Canada's LMR networks services business for about $500 million, expected to close in Q4 2026. Investors should weigh the gap between GAAP and non-GAAP results. Non-GAAP figures exclude roughly $1.19 per share of after-tax items, including recurring share-based compensation and amortization, as well as Hytera litigation gains ($40 million in Q1). The company has not recognized any potential IEEPA tariff refund, and it flagged rising memory costs and supply chain volatility as ongoing risks.
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04—See also

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