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Motorola Solutions Inc (MSI) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

TECHNOLOGY · Communications Equipment · DATA UPDATED 2026-08-29

Motorola Solutions Inc (MSI) operates in the Communications Equipment industry and is headquartered in Chicago, United States with about 23,000 employees. Its market capitalization is roughly $76 billion. In the fiscal year ended 2025-12-31, MSI reported $11.7B in revenue and $2.2B in net income.

Motorola Solutions, Inc. provides public safety, government, defense, and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. It operates in two segments, Products and Systems Integration, and Software and Services.

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MSI Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$12.2B	$11.7B	$10.8B	$10.0B	$9.1B	$8.2B	$7.4B	$7.9B	$7.3B	$6.4B	$6.0B	$5.7B	$5.9B	$6.2B	$6.3B	$8.2B	$7.6B	$18.1B	$30.1B	$36.6B	$42.9B
Gross Profit	$6.1B	$5.9B	$5.5B	$5.0B	$4.2B	$4.0B	$3.6B	$3.9B	$3.5B	$3.0B	$2.9B	$2.7B	$2.8B	$3.1B	$3.2B	$4.1B	$3.8B	$5.7B	$8.4B	$10.0B	$12.7B
Gross Margin %	50.0%	50.2%	51.0%	49.8%	46.4%	49.4%	48.7%	49.8%	47.4%	47.4%	47.5%	47.7%	48.1%	49.9%	50.9%	50.5%	50.0%	31.6%	27.9%	27.2%	29.7%
Operating Income (EBIT)	$3.1B	$2.9B	$2.7B	$2.3B	$1.7B	$1.7B	$1.4B	$1.6B	$1.3B	$1.3B	$1.0B	$994M	($1.0B)	$947M	$920M	$858M	$751M	($492M)	($2.4B)	($553M)	$4.1B
Operating Margin %	25.1%	25.1%	24.9%	23.0%	18.2%	20.4%	18.6%	20.1%	17.1%	20.1%	17.4%	17.4%	-17.1%	15.2%	14.7%	10.5%	9.9%	-2.7%	-7.9%	-1.5%	9.5%
Net Income	$2.1B	$2.2B	$1.6B	$1.7B	$1.4B	$1.2B	$949M	$868M	$966M	($155M)	$560M	$610M	$1.3B	$1.1B	$881M	$1.2B	$633M	($51M)	($4.2B)	($49M)	$3.7B
Net Margin %	17.4%	18.4%	14.6%	17.1%	15.0%	15.2%	12.8%	11.0%	13.2%	-2.4%	9.3%	10.7%	22.1%	17.6%	14.1%	14.1%	8.3%	-0.3%	-14.1%	-0.1%	8.5%
EBITDA	$3.8B	$3.5B	$2.6B	$2.3B	$2.2B	$2.2B	$1.8B	$1.6B	$1.7B	$1.6B	$1.4B	$1.3B	($841M)	$1.2B	$1.1B	$1.2B	$1.2B	$350M	($1.6B)	$736M	$4.7B
Earnings Per Share (EPS)	$12.70	$12.81	$9.23	$9.93	$7.93	$7.17	$5.45	$4.94	$5.62	$-0.95	$3.24	$3.02	$5.29	$4.06	$2.96	$3.41	$1.87	$-0.16	$-13.11	$-0.15	$10.23
Shares Outstanding (M)	167M	168M	171M	172M	172M	174M	174M	176M	172M	163M	173M	202M	246M	270M	297M	340M	338M	328M	324M	330M	358M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSI Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$3.1B	$2.7B	$3.4B	$3.0B	$2.8B	$2.5B	$3.0B	$2.8B
Gross Profit	$1.7B	$1.3B	$1.6B	$1.5B	$1.4B	$1.3B	$1.5B	$1.4B
Gross Margin %	53.6%	47.4%	48.7%	49.9%	51.1%	51.4%	51.4%	51.4%
Operating Income (EBIT)	$809M	$595M	$879M	$782M	$692M	$582M	$814M	$711M
Operating Margin %	25.8%	21.9%	26.0%	26.0%	25.0%	23.0%	27.0%	25.5%
Net Income	$557M	$366M	$649M	$562M	$513M	$430M	$611M	$562M
Net Margin %	17.8%	13.5%	19.2%	18.7%	18.6%	17.0%	20.3%	20.1%
EBITDA	$999M	$709M	$1.1B	$956M	$837M	$697M	$948M	$852M
Earnings Per Share (EPS)	$3.33	$2.18	$3.86	$3.33	$3.04	$2.53	$3.58	$3.29
Shares Outstanding (M)	167M	168M	168M	169M	169M	170M	171M	171M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSI Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$3.0B	$2.8B	$2.4B	$2.0B	$1.8B	$1.8B	$1.6B	$1.8B	$1.1B	$1.3B	$1.2B	$1.0B	($590M)	$944M	$1.1B	$874M	$2.0B	$629M	$242M	$710M	$3.5B
Capital Expenditures (CapEx)	$297M	$265M	$257M	$253M	$256M	$243M	$217M	$248M	$197M	$227M	$271M	$175M	$181M	$191M	$187M	$186M	$335M	$275M	$504M	$527M	$649M
Free Cash Flow (FCF)	$2.7B	$2.6B	$2.1B	$1.8B	$1.6B	$1.6B	$1.4B	$1.6B	$878M	$1.1B	$894M	$830M	($771M)	$753M	$883M	$688M	$1.6B	$354M	($262M)	$183M	$2.9B
FCF Margin %	21.9%	22.0%	19.7%	17.9%	17.2%	19.5%	18.8%	20.0%	12.0%	17.5%	14.8%	14.6%	-13.1%	12.1%	14.1%	8.4%	21.4%	1.9%	-0.9%	0.5%	6.7%
Dividends Paid	$766M	$728M	$654M	$589M	$530M	$482M	$436M	$379M	$337M	$307M	$280M	$277M	$318M	$292M	$270M	$72M	$114M	$114M	$453M	$468M	$443M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSI Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$469M	$451M	$1.3B	$798M	$273M	$510M	$1.1B	$759M
Capital Expenditures (CapEx)	$55M	$62M	$114M	$66M	$48M	$37M	$86M	$57M
Free Cash Flow (FCF)	$414M	$389M	$1.1B	$732M	$225M	$473M	$984M	$702M
FCF Margin %	13.2%	14.3%	33.8%	24.3%	8.1%	18.7%	32.7%	25.2%
Dividends Paid	$201M	$201M	$182M	$182M	$182M	$182M	$164M	$164M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSI Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$19.2B	$19.4B	$14.6B	$13.3B	$12.8B	$12.2B	$10.9B	$10.6B	$9.4B	$8.2B	$8.4B	$8.4B	$10.4B	$11.9B	$12.7B	$13.9B	$25.6B	$25.6B	$27.9B	$34.8B	$38.6B
Cash & Cash Equivalents	$710M	$1.2B	$2.1B	$1.7B	$1.3B	$1.9B	$1.3B	$1.0B	$1.2B	$1.2B	$1.0B	$2.0B	$4.0B	$3.2B	$1.5B	$1.9B	$4.2B	$2.9B	$3.1B	$2.8B	$3.2B
Total Liabilities	$16.6B	$17.0B	$12.9B	$12.6B	$12.7B	$12.2B	$11.4B	$11.3B	$10.7B	$9.9B	$9.4B	$8.5B	$7.7B	$8.2B	$9.4B	$8.7B	$14.6B	$15.7B	$18.4B	$19.4B	$21.5B
Total Debt (Short + Long-Term)	$9.2B	$9.3B	$6.1B	$6.1B	$6.1B	$5.8B	$5.3B	$5.3B	$5.3B	$4.5B	$4.4B	$4.4B	$3.3B	$2.5B	$1.9B	$1.5B	$2.8B	$3.9B	$4.2B	$4.3B	$4.4B
Total Shareholders' Equity	$2.7B	$2.4B	$1.7B	$724M	$116M	($40M)	($558M)	($700M)	($1.3B)	($1.7B)	($964M)	($106M)	$2.7B	$3.7B	$3.3B	$5.2B	$10.9B	$9.8B	$9.5B	$15.4B	$17.1B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MSI viewer.

MSI Metric Deep Dives

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