Motorola Solutions, Inc. (MSI)
Information Technology · Communications Equipment · US stock · S&P 500 component
$477.81
▲ +10.31 (2.21%)
Fair valueFair
$439 −8.2% to fair value
$219fair band $373–$532$658
Day's range
$467.31 – $479.48
52-week range
$359.36 – $494.85
About Motorola Solutions, Inc.
Motorola Solutions provides communications and safety technology for public safety agencies and businesses. Its products include two-way radio systems, commonly used by police, fire and emergency medical services, plus video security cameras, access control, and software for emergency call handling and command centres. It organises its activities into a products and systems integration segment and a software and services segment, with customers in government, utilities, transport and enterprise.
The company earns money from radios and systems, then from recurring software, maintenance and managed services that customers add on top. Revenue was $12.2 billion over the last twelve months, with growth of 8.6% a year across the last three years. The operating margin is 24.9%, and the business earns a profit of 20% on the capital invested in it. Net debt is 2.5 times EBITDA. A dividend is paid, with a yield of 1.0%. On the site's X-Ray Score it receives 48 out of 100.
Price chart
52-wk range $359.36 – $494.85Volume 1,222,264Daily, split-adjusted
Vitals
Market cap$79.9B
52-week range$359.36 – $494.85
Volume (last day)1,222,264
P/E (TTM)37.7
EBIT / EV yield3.4%
Free-cash-flow yield3.4%
Dividend yield1.0%
Revenue (TTM)$12.2B
Net income (TTM)$2.1B
Operating margin24.9%
Return on capital20.3%
Debt incl. leases$9.6B
Cash & securities$710M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$439middle half of models $327 – $513
Fair
−8.2% to fair value
Average of the 15 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $478
Undervalued < $373Fair $373 – $532Overvalued > $532
P/E multiple
$470
P/B multiple
$702
P/S multiple
$470
EV/EBITDA multiple
$557
EV/EBIT multiple
$514
EV/revenue multiple
$464
10-year DCF, EBITDA exit
$502
5-year DCF, EBITDA exit
$525
10-year DCF, revenue exit
$494
5-year DCF, revenue exit
$511
10-year DCF, growth exit
$258
5-year DCF, growth exit
$235
Dividend discount, stable
$223
Dividend discount, multi-stage
$395
Earnings power value
$258
Growth the price implies
20.5%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Weak business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
49/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.4%
Free-cash-flow yield3.4%
Fair value vs price0.9×
Growth
Fair
54/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)8.6%
EPS growth (3y)17.2%
Growth consistency100%
Profitability
Fair
55/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital20.3%
Operating margin24.9%
Gross profitability33.1%
Financial health
Weak
27/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA2.5×
Interest cover6.9×
Dividends
Fair
57/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.0%
Dividends vs free cash flow30%
Dividend growth11.2%
Quarterly results: last 6 quarters
+5.8%
Mar '25
+5.2%
Jun '25
+7.8%
Sep '25
+12.3%
Dec '25
+7.4%
Apr '26
+13.3%
Jul '26
Revenue against the same quarter a year earlier. Latest quarter revenue $3.1B, diluted EPS $3.33.
Compare with peers
ANET Arista Networks, Inc.62 FFIV F5, Inc.55 CSCO Cisco Systems, Inc.42 CIEN Ciena Corp40Other Communications Equipment companies by X-Ray Score.
SWOT analysis: Motorola Solutions, Inc.
Strengthsinside the company
- Return on invested capital is 20.3%, against a median of 21.6% for industry peers.
- Earnings per share have compounded at 17.2% a year over three years.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Dividends use only 30% of free cash flow, which leaves room to raise them.
- Trades at 37.4x earnings, 30% below the 53.8x median of industry peers.
- Our Market Compass rates the backdrop for Information Technology as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare MSI with peers and sector
Medians of 5 Communications Equipment peers and of 74 Information Technology stocks in our universe.
Largest peers (X-Ray Score): CSCO 42, ANET 62, LITE 35, CIEN 40, FFIV 55.
| Metric | MSI | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 48 | 42 | 50 |
| Valuation | 49 | 34 | 52 |
| Growth | 54 | 52 | 54 |
| Profitability | 55 | 49 | 49 |
| Financial health | 27 | 54 | 50 |
| Dividends | 57 | – | 50 |
Sector leaders: highest X-Ray Score in Information Technology
MSI ranks #46 of 75 in Information Technology and #3 of 6 in Communications Equipment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for MSI
Each factor is rated by where MSI stands among the 75 Information Technology stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 2 Good · 16 Average · 5 Bad of 23
Growth: 0 · 2 · 1
Profitability: 1 · 4 · 0
Financial strength: 0 · 1 · 3
Valuation: 0 · 4 · 1
Cash flow: 0 · 4 · 0
Efficiency: 1 · 1 · 0
| Factor | MSI | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +8.6% | Average beats 47% | +9.7% | – | – |
| Revenue growth, last year | +8.0% | Bad beats 27% | +13.7% | +9.5% | ≈ In line |
| EPS growth, 3 years a year | +17.2% | Average beats 64% | +5.9% | – | – |
| Profitability | |||||
| Gross margin | 52.0% | Average beats 40% | 57.8% | 49.8% | ≈ In line |
| Operating margin | 24.9% | Average beats 57% | 20.3% | 23.0% | ≈ In line |
| Net margin | 17.4% | Average beats 47% | 17.8% | 15.2% | ▲ Better |
| Return on invested capital | 20.3% | Average beats 53% | 19.4% | – | – |
| Return on equity | 79.9% | Good beats 89% | 21.0% | 164.3% | ▼ Worse |
| Financial strength | |||||
| Net debt / EBITDA | 2.5x | Bad beats 17% | 0.8x | 1.8x | ▼ Worse |
| Interest cover | 6.9x | Bad beats 14% | 23.0x | 8.3x | ▼ Worse |
| Current ratio | 1.10 | Bad beats 27% | 1.57 | 1.15 | ≈ In line |
| Piotroski F-score | 6 / 9 | Average beats 43% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 37.4x | Average beats 42% | 33.6x | 32.5x | ▼ Worse |
| Price / book | 29.9x | Bad beats 11% | 8.3x | 60.4x | ▲ Better |
| Price / sales | 6.5x | Average beats 54% | 6.9x | 5.5x | ▼ Worse |
| EV / EBITDA | 24.7x | Average beats 50% | 24.7x | 23.3x | ≈ In line |
| Free cash flow yield | 3.4% | Average beats 50% | 3.4% | 3.4% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 21.9% | Average beats 47% | 22.3% | 19.5% | ▲ Better |
| Cash from operations / net income | 1.39 | Average beats 51% | 1.39 | 1.34 | ≈ In line |
| Free cash flow growth, 3 years a year | +18.0% | Average beats 53% | +15.4% | – | – |
| Accruals (lower is better) | −4.4% | Average beats 49% | −4.4% | – | – |
| Efficiency | |||||
| Inventory turnover | 4.4x | Good beats 67% | 3.9x | 5.7x | ▼ Worse |
| Days sales outstanding | 64 days | Average beats 47% | 63 days | 63 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 1 Good · ● 11 Average · ● 4 BadCash quality
Earnings backed by cashAverage
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
EPS growth (3y)Average
Free-cash-flow growth (3y)Average
Revenue growth (3y)Average
Growth consistencyGood
Balance sheet
Current ratioBad
Net debt / EBITDABad
Interest coverBad
Valuation
Fair value vs priceAverage
EBIT / EV yieldAverage
Profitability
Return on invested capitalAverage
Operating marginAverage
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 47/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $8.2B | $9.1B | $10.0B | $10.8B | $11.7B |
| Operating income | $1.7B | $1.7B | $2.3B | $2.7B | $3.0B |
| Net income | $1.2B | $1.4B | $1.7B | $1.6B | $2.2B |
| Operating cash flow | $1.8B | $1.8B | $2.0B | $2.4B | $2.8B |
| Operating margin | 20.4% | 18.2% | 23.0% | 24.8% | 25.6% |
| Free cash flow | $1.6B | $1.6B | $1.8B | $2.1B | $2.6B |
| Diluted EPS | $7.17 | $7.93 | $9.93 | $9.23 | $12.75 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 1 neutral · 3 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 457.8 | Bullish |
| EMA 10 | 461.6 | Bullish |
| SMA 20 | 454.1 | Bullish |
| EMA 20 | 458.6 | Bullish |
| SMA 50 | 463.6 | Bullish |
| EMA 50 | 455.5 | Bullish |
| SMA 100 | 441.2 | Bullish |
| EMA 100 | 447.4 | Bullish |
| SMA 200 | 434.6 | Bullish |
| EMA 200 | 437.7 | Bullish |
Oscillators (daily)
| RSI (14) | 67.01 | Neutral |
| MACD (12, 26) | 2.30 | Bullish |
| Momentum (12) | 4.72 | Bullish |
| Stochastic %K (14) | 95.65 | Bearish |
| Williams %R (14) | -4.35 | Bearish |
| CCI (20) | 210.2 | Bearish |
Pivot points (classic, last session)
S3 458.1 | S2 462.7 | S1 470.3 | Pivot 474.9 | R1 482.4 | R2 487.0 | R3 494.6 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
4.84 USD
Yield on today's price
1.01%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.2100 | |
| 1.2100 | |
| 1.2100 | |
| 1.2100 | |
| 1.0900 | |
| 1.0900 | |
| 1.0900 | |
| 1.0900 | |
| 0.9800 | |
| 0.9800 | |
| 0.9800 | |
| 0.9800 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold MSI
| ETF | Share of the fund |
|---|---|
| IYZ iShares U.S. Telecommunications | 3.42% |
| TDIV First Trust NASDAQ Technology Dividend... | 2.21% |
| FTCS First Trust Capital Strength | 1.89% |
| VOT Vanguard Mid-Cap Growth | 1.52% |
| RSPT Invesco S&P 500 Equal Weight Technolog... | 1.45% |
| USMV iShares MSCI USA Min Vol Factor | 1.39% |
| MOAT VanEck Morningstar Wide Moat | 1.24% |
| ACWV iShares MSCI Global Min Vol Factor | 1.16% |
The eight funds with the largest weight in MSI among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
MSI stock splits
MSI has split its stock 3 times since 1993. The latest was a 3-for-1 split on 2 Jun 2000.
Full MSI stock split history →MSI SEC filings
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Other events
424B5SEC EDGAR
424B5
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.