Motorola Solutions, Inc.

MSI 10-K · Q4 2025

MSI Q4 2025 request

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Income Statement

Income Statement
Metric Q4 2025 Q4 2024 YoY
Revenue 3,380 3,011 +12.3%
Show Product Lines breakouts
Command Center 258 216 +19.4%
Command Center · Software and Services 258 216 +19.4%
Mission Critical Networks (MCN) 2,500 2,249 +11.2%
Mission Critical Networks (MCN) · Products and Systems Integration 1,797 1,627 +10.4%
Mission Critical Networks (MCN) · Software and Services 703 622 +13.0%
Product 2,039 1,815 +12.3%
Service 1,341 1,196 +12.1%
Video 622 546 +13.9%
Video · Products and Systems Integration 361 323 +11.8%
Video · Software and Services 261 223 +17.0%
Show Business Segments breakouts
Products and Systems Integration 2,158 1,950 +10.7%
Products and Systems Integration · International 629 484 +30.0%
Products and Systems Integration · North America 1,529 1,466 +4.3%
Products and Systems Integration · Sales Channel Directly To Consumer 1,385 1,269 +9.1%
Products and Systems Integration · Sales Channel Through Intermediary 773 681 +13.5%
Software and Services 1,222 1,061 +15.2%
Software and Services · International 389 323 +20.4%
Software and Services · North America 833 738 +12.9%
Software and Services · Sales Channel Directly To Consumer 1,108 969 +14.3%
Software and Services · Sales Channel Through Intermediary 114 92 +23.9%
Show Geography breakouts
International 1,018 807 +26.1%
North America 2,362 2,204 +7.2%
Show Contract With Customer Sales Channel breakouts
Sales Channel Directly To Consumer 2,493 2,238 +11.4%
Sales Channel Through Intermediary 887 773 +14.7%
Cost of Revenue 1,612 1,462 +10.3%
Show Product Lines breakouts
Product 828 733 +13.0%
Service 784 729 +7.5%
Show Business Segments breakouts
Products and Systems Integration 989 893 +10.8%
Software and Services 623 569 +9.5%
Gross Profit 1,768 1,549 +14.1%
Show Business Segments breakouts
Products and Systems Integration 1,169 1,057 +10.6%
Software and Services 599 492 +21.7%
Selling, General & Administrative 499 487 +2.5%
Show Business Segments breakouts
Products and Systems Integration 399 392 +1.8%
Software and Services 100 95 +5.3%
Research & Development 270 246 +9.8%
Show Business Segments breakouts
Products and Systems Integration 168 153 +9.8%
Software and Services 102 93 +9.7%
Other Operating Income Expense Net 55 2 +2650.0%
Show Business Segments breakouts
Products and Systems Integration 14 -29 +148.3%
Software and Services 41 31 +32.3%
Operating Income 944 814 +16.0%
Show Business Segments breakouts
Products and Systems Integration 588 541 +8.7%
Software and Services 356 273 +30.4%
Interest Expense -110 -56 -96.4%
Other Non-Operating Income (Expense) 26 30 -13.3%
Non-Operating Income (Expense) -84 -26 -223.1%
Income Before Taxes 860 788 +9.1%
Income Tax Expense (Benefit) 210 176 +19.3%
Net Income 650 612 +6.2%
Net Income Loss Attributable To Noncontrolling Interest 1 1 0.0%
Net Income 649 611 +6.2%
EPS (Basic) 3.91 3.66 +6.8%
EPS (Diluted) 3.86 3.57 +8.1%
Wtd Avg Shares (Basic) -0.2 0.1 -300.0%
Wtd Avg Shares (Diluted) -0.2 0.2 -200.0%
Comprehensive Income 646 542 +19.2%
Foreign Currency Transaction Gain Loss Before Tax 2 24 -91.7%
Interest Expense -117 -74 -58.1%

Balance Sheet

Balance Sheet
Metric Q4 2025 Q4 2024 YoY
Current Assets
Cash & Cash Equivalents 1,165 2,102 -44.6%
Accounts Receivable 2,200 1,952 +12.7%
Contract With Customer Asset Net Current 1,574 1,230 +28.0%
Inventory 983 766 +28.3%
Other Assets Current 378 429 -11.9%
Total Current Assets 6,300 6,479 -2.8%
Non-Current Assets
Operating Lease Right-of-Use Assets 581 529 +9.8%
Long Term Investments 187 135 +38.5%
Deferred Tax Assets 761 1,280 -40.5%
Goodwill 6,800 3,526 +92.9%
Show Business Segments breakouts
Products and Systems Integration 4,229 1,573 +168.8%
Software and Services 2,571 1,953 +31.6%
Intangible Assets 3,104 1,249 +148.5%
Other Non-Current Assets 491 375 +30.9%
Total Assets 19,389 14,595 +32.8%
Show Geography breakouts
CA 435 383 +13.6%
GB 2,538 2,190 +15.9%
Other 1,051 566 +85.7%
US 15,365 11,456 +34.1%
Property, Plant & Equipment 1,165 1,022 +14.0%
Other Assets
Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization 1,165 1,022 +14.0%
Current Liabilities
Accounts Payable 1,134 1,018 +11.4%
Deferred Revenue (Current) 2,265 2,072 +9.3%
Accrued Liabilities 1,930 1,643 +17.5%
Total Current Liabilities 6,078 5,055 +20.2%
Non-Current Liabilities
Long-Term Debt 8,413 5,675 +48.2%
Operating Lease Liabilities 471 427 +10.3%
Other Non-Current Liabilities 2,000 1,719 +16.3%
Deferred Tax Liabilities 124 87 +42.5%
Contract With Customer Liability Noncurrent 751 496 +51.4%
Other Liabilities
Short Term Borrowings 749
Show Debt Instrument breakouts
6.5% debentures due 2025 · Unsecured Debt 749
Stockholders' Equity
Common Stock 2 2 0.0%
Additional Paid In Capital Common Stock 2,279 1,940 +17.5%
Retained Earnings 2,549 2,300 +10.8%
Accumulated Other Comprehensive Income -2,420 -2,539 +4.7%
Total Stockholders' Equity 2,410 1,703 +41.5%
Minority Interest 17 16 +6.2%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 2,427 1,719 +41.2%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment -1,969 -1,986 +0.9%
Accumulated Gain Loss Net Cash Flow Hedge Parent -6 -7 +14.3%
Accumulated Other Comprehensive Income -2,420 -2,539 +4.7%
Accumulated Translation Adjustment -445 -546 +18.5%
Common Stock Including Additional Paid In Capital 2,281 1,942 +17.5%
Noncontrolling Interest 17 16 +6.2%
Retained Earnings 2,549 2,300 +10.8%
Total Liabilities & Equity 19,389 14,595 +32.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q4 2025 YTD Q4 2024 YoY
Operating Activities
Depreciation & Amortization 143 86 +66.3%
Other Non Cash Charges Or Income 7 4 +75.0%
Stock-Based Compensation 80 63 +27.0%
Increase Decreasein Accounts Receivable Contract Assets And Contract Liabilities -174 -125 -39.2%
Change in Inventory -38 41 -192.7%
Increase Decrease In Other Operating Assets 9 66 -86.4%
Increase Decrease In Accounts Payable And Accrued Liabilities And Contract With Customer Liability 560 427 +31.1%
Increase Decrease In Other Operating Capital Net 20 -44 +145.5%
Deferred Income Taxes -1 -60 +98.3%
Net Cash from Operations 1,256 1,070 +17.4%
Investing Activities
Payments For Acquisitions And Investments Net -81 -22 -268.2%
Proceeds From Sales Of Investments And Businesses Net 3 1 +200.0%
Payments To Acquire Productive Assets -114 -86 -32.6%
Show Business Segments breakouts
Products and Systems Integration -59 -39 -51.3%
Software and Services -55 -47 -17.0%
Net Cash from Investing -192 -107 -79.4%
Financing Activities
Proceeds From Issuance Of Debt 0 0
Repayments Of Long Term Debt 0 0
Payments Of Dividends Common Stock -182 -164 -11.0%
Payments Of Dividends Minority Interest 0 0
Net Cash from Financing -802 -214 -274.8%
Share Repurchases 490 103 +375.7%
Supplemental
Interest Paid 119 110 +8.2%
Income Taxes Paid 156 174 -10.3%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 9 -51 +117.6%
Net Change in Cash 271 698 -61.2%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 1,165 2,102 -44.6%

Values in millions USD. Source: SEC EDGAR 10-K filing.

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