15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 9.5% per year over the past 5 years.
Net income has grown faster than revenue (17.8% vs 9.5% per year).
Operating margin has expanded, at 25.6% in the latest year.
Free cash flow has grown 13.0% per year over the past 5 years.
Financial health
Total debt ($9.2B) exceeds cash ($1.2B); net debt is $8.0B.
Total debt has grown in line with revenue (12.1% vs 9.5% per year).
Operating income covered interest expense 8.3× in the latest year, up from 5.9× 5 years ago.
Total debt is 2.7× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 33.8% of earnings and 28.3% of free cash flow.
The dividend has grown 10.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$11.7B
$2.2B
51.7%
25.6%
$2.6B
$9.2B
$1.2B
2024
$10.8B
$1.6B
51.0%
24.8%
$2.1B
$6.0B
$2.1B
2023
$10.0B
$1.7B
49.8%
23.0%
$1.8B
$6.0B
$1.7B
2022
$9.1B
$1.4B
46.4%
18.2%
$1.6B
$6.0B
$1.3B
2021
$8.2B
$1.2B
49.4%
20.4%
$1.6B
$5.7B
$1.9B
2020
$7.4B
$949M
48.7%
18.7%
$1.4B
$5.2B
$1.3B
2019
$7.9B
$868M
49.8%
20.0%
$1.6B
$5.1B
$1.0B
2018
$7.3B
$966M
47.4%
17.1%
$878M
$5.3B
$1.3B
2017
$6.4B
-$155M
47.4%
20.1%
$1.1B
$4.5B
$1.2B
2016
$6.0B
$560M
47.5%
17.4%
$894M
$4.4B
$967M
2015
—
$610M
—
—
$846M
$4.3B
$2.0B
2014
—
$1.3B
—
—
-$818M
$3.4B
$4.0B
2013
—
$1.1B
—
—
$386M
$2.5B
$3.2B
2012
—
$881M
—
—
$504M
$1.9B
$1.5B
2011
—
$1.2B
—
—
$201M
$1.5B
$1.9B
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Apr '26
$2.7B
$366M
50.2%
19.3%
$389M
$9.0B
$886M
Dec '25
$3.4B
$649M
52.3%
27.9%
$1.1B
$9.2B
$1.2B
Sep '25
$3.0B
$562M
51.6%
25.6%
$732M
$9.3B
$894M
Jun '25
$2.8B
$513M
51.1%
25.0%
$225M
$7.7B
$3.2B
Mar '25
$2.5B
$430M
51.4%
23.0%
$473M
$5.7B
$1.6B
Dec '24
$3.0B
$611M
51.4%
27.0%
$984M
$6.0B
$2.1B
Sep '24
$2.8B
$562M
51.4%
25.5%
$702M
$6.0B
$1.4B
Jun '24
$2.6B
$443M
51.0%
24.5%
$112M
$6.3B
$1.4B
Mar '24
$2.4B
-$39M
49.9%
21.7%
$336M
$6.3B
$1.5B
Dec '23
$2.8B
$596M
51.1%
25.9%
$1.2B
$6.0B
$1.7B
Sep '23
$2.6B
$464M
50.1%
25.0%
$649M
$4.7B
$910M
Jul '23
$2.4B
$371M
49.5%
21.6%
$40M
$6.0B
$710M
Apr '23
$2.2B
$278M
48.2%
18.4%
-$62M
$6.0B
$1.0B
Dec '22
$2.7B
$589M
49.9%
25.5%
$1.2B
$6.0B
$1.3B
Oct '22
$2.4B
$279M
43.4%
15.7%
$318M
$6.0B
$822M
Jul '22
$2.1B
$228M
46.3%
16.7%
-$49M
$6.0B
$717M
Apr '22
$1.9B
$267M
45.3%
12.6%
$98M
$5.7B
$878M
Dec '21
$2.3B
$401M
51.0%
23.7%
$635M
$5.7B
$1.9B
Oct '21
$2.1B
$307M
49.6%
21.4%
$315M
$5.7B
$1.7B
Jul '21
$2.0B
$293M
48.3%
18.8%
$326M
$5.7B
$1.9B
Valuation over time
How the market has priced MSI against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 34.8× (Mar '23) to 30.6× (Jun '26).
The price-to-sales ratio has risen from 5.2× (Mar '23) to 5.6× (Jun '26).
The dividend yield has fallen from 1.1% (Mar '23) to 1.1% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is MSI growing its revenue and profit?
Over the past 5 years, Motorola Solutions's revenue has grown 9.5% per year, and net income grown 17.8% per year. These are computed facts, not advice.
How much debt does MSI have?
As of FY2025, Motorola Solutions reported $9.2B of total debt against $1.2B of cash; operating income covered interest expense 8.3×.
What is MSI's profit margin?
In FY2025, gross margin was 51.7%, operating margin 25.6%, and net margin 18.4%.
What is MSI's P/E ratio?
As of Jun '26, Motorola Solutions traded at a price-to-earnings ratio of about 30.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.