financial statements
The full income statement, balance sheet, and cash-flow statement for Motorola Solutions Inc. (MSI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 11.7B YoY+8.0% | 10.8B YoY+8.4% | 9.98B YoY+9.5% | 9.11B YoY+11.5% | 8.17B YoY+10.2% | |
6.04B YoY+9.5% | 5.51B YoY+10.9% | 4.97B YoY+17.5% | 4.23B YoY+4.7% | 4.04B YoY+12.0% | ||
| Research & development | 970M YoY+5.8% | 917M YoY+6.9% | 858M YoY+10.1% | 779M YoY+6.1% | 734M YoY+7.0% | |
| Selling, general & administrative | 1.87B YoY+6.7% | 1.75B YoY+12.2% | 1.56B YoY+7.7% | 1.45B YoY+7.2% | 1.35B YoY+4.6% | |
| Restructuring | 0.00 | 0.00 YoY-100.0% | 24.0M | 0.00 | 0.00 | |
| Amortization of intangibles | 234M YoY+53.9% | 152M YoY-14.1% | 177M YoY-31.1% | 257M YoY+8.9% | 236M YoY+9.8% | |
| Operating income | 2.99B YoY+11.2% | 2.69B YoY+17.2% | 2.29B YoY+38.1% | 1.66B YoY-0.4% | 1.67B YoY+20.5% | |
| Interest expense | 360M YoY+22.0% | 295M YoY+18.5% | 249M YoY+3.8% | 240M YoY+11.6% | 215M YoY-7.7% | |
| Other non-operating income | 126M YoY+125.8% | -489M YoY-819.1% | 68.0M YoY-11.7% | 77.0M YoY-16.3% | 92.0M YoY+607.7% | |
| Pre-tax income | 2.81B YoY+42.6% | 1.97B YoY-8.1% | 2.15B YoY+41.7% | 1.51B YoY-2.4% | 1.55B YoY+32.2% | |
| Income tax | 652M YoY+67.2% | 390M YoY-9.7% | 432M YoY+191.9% | 148M YoY-51.0% | 302M YoY+36.7% | |
2.15B YoY+36.6% | 1.58B YoY-7.7% | 1.71B YoY+25.4% | 1.36B YoY+9.5% | 1.25B YoY+31.2% | ||
$12.75 YoY+38.1% | $9.23 YoY-7.0% | $9.93 YoY+25.2% | $7.93 YoY+10.6% | $7.17 YoY+31.6% | ||
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
6.30B YoY-2.8% | 6.48B YoY+13.2% | 5.72B YoY+8.9% | 5.25B YoY-2.9% | 5.41B YoY+25.1% | ||
19.4B YoY+32.8% | 14.6B YoY+9.4% | 13.3B YoY+4.1% | 12.8B YoY+5.1% | 12.2B YoY+12.1% | ||
6.08B YoY+20.2% | 5.05B YoY-11.9% | 5.74B YoY+25.8% | 4.56B YoY+12.2% | 4.06B YoY+16.5% | ||
| Long-term debt | 8.41B YoY+48.2% | 5.67B YoY+20.6% | 4.71B YoY-21.8% | 6.01B YoY+5.7% | 5.69B YoY+10.2% | |
| Deferred revenue (non-current) | 751M YoY+51.4% | 496M YoY+17.0% | 424M YoY+16.8% | 363M YoY+18.6% | 306M YoY+8.1% | |
| Non-current lease liability | 471M YoY+10.3% | 427M YoY+4.9% | 407M YoY-2.9% | 419M YoY+33.9% | 313M YoY-22.1% | |
| Deferred tax liabilities | 124M YoY+42.5% | 87.0M YoY+58.2% | 55.0M YoY-24.7% | 73.0M YoY-60.1% | 183M YoY+1.7% | |
| Other non-current liabilities | 2.00B YoY+16.3% | 1.72B YoY-1.3% | 1.74B YoY+3.0% | 1.69B YoY-21.3% | 2.15B YoY-9.1% | |
2.41B YoY+41.5% | 1.70B YoY+135.2% | 724M YoY+524.1% | 116M YoY+390.0% | -40.0M YoY+92.8% | ||
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
2.84B YoY+18.7% | 2.39B YoY+17.0% | 2.04B YoY+12.1% | 1.82B YoY-0.8% | 1.84B YoY+13.9% | ||
-5.16B YoY-918.5% | -507M YoY-22.5% | -414M YoY+70.2% | -1.39B YoY-86.9% | -742M YoY-69.8% | ||
1.31B YoY+190.4% | -1.45B YoY-11.8% | -1.29B YoY-42.9% | -906M YoY-111.2% | -429M YoY+55.6% | ||
| FX effect on cash | 81.0M YoY+307.7% | -39.0M YoY-186.7% | 45.0M YoY+157.0% | -79.0M YoY-71.7% | -46.0M YoY-207.0% | |
| Net change in cash | -937M YoY-336.0% | 397M YoY+4.5% | 380M YoY+169.2% | -549M YoY-188.5% | 620M YoY+145.1% | |
| Interest paid | 285M YoY+12.6% | 253M YoY+8.1% | 234M YoY+3.5% | 226M YoY+9.2% | 207M YoY-4.6% | |
| Income taxes paid | 569M YoY-9.3% | 627M YoY+6.8% | 587M YoY+91.2% | 307M YoY+19.5% | 257M YoY+42.0% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 63.8B YoY-17.4% | 77.2B YoY+48.7% | 52.0B YoY+20.6% | 43.1B YoY-6.1% | 45.9B YoY+59.2% | |
| P/E | 29.6× YoY-39.5% | 49.0× YoY+59.4% | 30.7× YoY-16.1% | 36.6× YoY-0.7% | 36.9× YoY+21.3% | |
| P/S | 5.5× YoY-23.5% | 7.1× YoY+34.3% | 5.3× YoY+7.8% | 4.9× YoY-12.2% | 5.6× YoY+44.4% | |
| P/B | 26.5× YoY-41.6% | 45.4× YoY-68.6% | 144.5× | — | — | |
| P/FCF | 24.8× YoY-31.4% | 36.2× YoY+26.5% | 28.6× YoY-33.3% | 42.9× YoY+49.1% | 28.8× YoY+39.4% | |
| Earnings yield | 3.4% YoY+65.3% | 2.0% YoY-37.3% | 3.3% YoY+19.1% | 2.7% YoY+0.7% | 2.7% YoY-17.6% | |
| FCF yield | 4.0% YoY+45.8% | 2.8% YoY-20.9% | 3.5% YoY+50.0% | 2.3% YoY-32.9% | 3.5% YoY-28.3% | |
| Dividend yield | 1.2% YoY+34.1% | 0.9% YoY-24.6% | 1.2% YoY-8.3% | 1.3% YoY+17.3% | 1.1% YoY-30.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: MSI's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MSI filings on SEC EDGAR → Not investment advice.