Motorola Solutions
Motorola Solutions is a global leader in mission-critical safety and security technologies for public safety, government, including defense, and enterprise customers.
10-K, Feb 12, 2026
Source and method
In the company’s words: first descriptive sentence of 10-K Item 1, verbatim (extractive). Item 1 · Business · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
Business
How does Motorola Solutions make money?
Product And Systems Integration is 62.1% of revenue.
Source and method
Revenue by segments, FY2025.
annual report FY2025 · 0000068505-26-000010 · shares derived = part / total revenue
Calculated: share = part revenue ÷ total revenue ($11.7B).
- Product And Systems Integration: $7.3B · 62.1%
- Services And Software: $4.4B · 37.9%
What is left of every $100?
Of every $100 in revenue, $18 is net income.
Source and method
Of every $100 of revenue, FY2025.
Calculated: amount ÷ revenue × 100.
- Revenue: $11.7B
- Gross profit: $6.0B
- Operating income: $3.0B
- Net income: $2.2B
- Free cash flow: $2.6B
Where do customers sit?
71.6% of revenue is from North America.
Source and method
Revenue by region, latest annual report.
10-K · 0000068505-26-000010 · XBRL revenue by region · one level, shares add up to 100.0% · derived
Calculated: share = region revenue ÷ total revenue.
In the company’s words ›
“Our business is focused on safety and security, driven by our commitment to help create safer communities, safer schools, safer hospitals, safer businesses, and ultimately, safer nations.”
“Grounded in nearly 100 years of close customer and community collaboration, we design and advance technology for more than 100,000 customers in over 100 countries with the goal of making everywhere safer for all.”
“Our ecosystem of safety and security technologies includes Mission Critical Networks ("MCN"), Video Security and Access Control ("Video") and Command Center.”
Item 1 · Business · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
Where did the growth actually come from?
Services And Software drove 50% of growth.
Source & method
- Counted
- Segment revenue as filed, first and last fiscal year of the range.
- Formulas
- Change = segment revenue (to) − segment revenue (from); share of growth = change / total revenue change (calculated). Not allocated = total revenue − sum of reported segments (calculated, never filled in).
- Guards
- Segment break: if the company redrew its segments inside the range, no share of growth is claimed. No segment break reported for this company. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Thesis
Why do people invest?
3 reasons in the company’s own words.
Revenue growth
“Net sales were $11.7 billion in 2025 compared to $10.8 billion in 2024.”
Item 7 · MD&A · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
Number check (revenue): stated $11.7B matches the stored value ($11.7B, ±10%)
Revenue: $11.7B FY2025 · +8.0% vs FY2024 · KPIs
Position (in the company’s words)
“Our largest customer is the U.S. government (through multiple contracts with its various branches and agencies, including the armed services), representing approximately 8% of our consolidated net sales in 2025.”
Item 1 · Business · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
R&D investment
“R&D expenditures were $970 million in 2025, $917 million in 2024 and $858 million in 2023.”
Item 1 · Business · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
Number check (R&D expense): stated $970M matches the stored value ($970M, ±10%)
R&D expense: $970M FY2025 · +5.8% vs FY2024 · Profitability charts
Source and method
Verbatim · selection. Sentences selected by rules from the 10-K and checked word for word against it; no AI summary. Not investment advice, not a recommendation, no forecast.
3 of 3 points met the selection rules (score, subject = the metric, quoted number within ±10% of the stored value).
KPIs
How fast is revenue growing?
Revenue grew 8.0% to $11.7B.
Revenue grew 13% YoY to $3.1B.
Source & method
- Counted
- Total revenue, as filed in 10-K / 20-F / 10-Q XBRL.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Did the growth reach the shareholder?
Per share, revenue grew 30.4%.
Source & method
- Counted
- Revenue and weighted-average diluted shares, as filed, first and last fiscal year of the range.
- Formulas
- Revenue per diluted share = revenue / diluted shares; growth = (to / from) − 1. All three changes are calculated.
- Guards
- IPO: if the start year ended more than 365 days before the first SEC filing and diluted shares then rose ≥25%, the range is hidden by default (Options → Include IPO-distorted periods). Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How profitable is it?
25.6% operating margin, up from 24.8%.
51.7% gross margin, up from 51.0%.
Operating income grew 11% to $3.0B.
Net income grew 37% to $2.2B.
R&D grew 5.8% to $970M.
SG&A grew 6.7% to $1.9B.
EPS diluted grew 38% to $12.75.
25.8% operating margin, up from 25.0%.
53.6% gross margin, up from 51.1%.
Operating income grew 17% YoY to $809M.
Net income grew 8.6% YoY to $557M.
R&D grew 13% YoY to $260M.
SG&A grew 10% YoY to $496M.
EPS diluted grew 9.5% YoY to $3.33.
Source & method
- Counted
- Income statement items, as filed.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How much cash does it make, and where does it go?
Keeps $22 of every $100 as free cash.
Operating cash flow grew 19% to $2.8B.
Capex grew 3.1% to $265M.
Buybacks grew 373% to $1.2B.
Dividends grew 11% to $728M.
Stock-based compensation grew 21% to $293M.
Free cash flow grew 84% YoY to $414M.
Operating cash flow grew 72% YoY to $469M.
Capex grew 15% YoY to $55.0M.
Buybacks grew 52% YoY to $331M.
Dividends grew 10% YoY to $201M.
Stock-based compensation grew 41% YoY to $104M.
Source & method
- Counted
- Cash flow statement items, as filed; free cash flow = operating cash flow − capex (calculated).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How strong is the balance sheet?
$1.2B cash vs $9.2B debt.
Total debt grew 53% to $9.2B.
Interest expense grew 33% to $302M.
Total assets grew 33% to $19.4B.
Equity grew 42% to $2.4B.
Cash fell 78% YoY to $710M.
Total debt grew 17% YoY to $9.0B.
Interest expense grew 87% YoY to $103M.
Total assets grew 17% YoY to $19.2B.
Equity grew 36% YoY to $2.7B.
Source & method
- Counted
- Balance sheet items at fiscal year end, as filed; total debt is derived from reported components (excl. operating leases).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Dependencies
Who does Motorola Solutions depend on?
No customer above the disclosure threshold.
Risks
What could go wrong?
4 of 29 risk factors, one per theme.
Supply chain and manufacturing
“Catastrophic events may interrupt our business, or our customers’ or suppliers’ business, which may adversely affect our business, results of operations, financial position, cash flows or stock price.”
Item 1A · Risk Factors · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
AI and new products
“We use AI in our products and services, and challenges related to the use of AI could subject us to legal liability or additional regulatory oversight, or adversely affect our business, financial condition, results of operations or business reputation.”
Item 1A · Risk Factors · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
Regulation and legal proceedings
“If the quality of our products does not meet our customers' expectations or regulatory or industry standards, or our products and services suffer from an actual or perceived systems or service failure, then our results of operations, financial condition, or reputation could be negatively impacted.”
Item 1A · Risk Factors · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
Acquisitions
“We expect to continue to make strategic acquisitions of other companies or businesses and these acquisitions introduce significant risks and uncertainties, including risks related to integrating the acquired businesses and achieving benefits from the acquisitions.”
Item 1A · Risk Factors · 10-K · 0000068505-26-000010 · filed Feb 12, 2026
Source and method
Short verbatim quotes from the risk factors in Item 1A, one per theme (a partial selection). Full list: 10-K.
Who’s invested
Who owns more than 5%?
BlackRock, Inc. holds 8%.
BlackRock, Inc.8%
13G/A · as of Mar 31, 2025 · filed Apr 24, 2025
Vanguard Capital Management LLC7.49%
13G · as of Mar 31, 2026 · filed Apr 30, 2026
Vanguard Portfolio Management LLC5.83%
13G · as of Mar 31, 2026 · filed Apr 29, 2026
Source and method
Holders above 5% from Schedule 13G/13D, SEC filings only.
3 filings reporting a stake below 5% (e.g. after selling) not listed.
13F holders and insider trades ›
Largest institutional holders, 13F, quarter ending Jun 30, 2026
BlackRock, Inc.10.8%
15.9M shares · 13F filed Aug 7, 2026 · share of 13F-reported
Vanguard Capital Management LLC7.4%
10.8M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Vanguard Portfolio Management LLC6.6%
9.7M shares · 13F filed Aug 13, 2026 · share of 13F-reported
State Street Corp5.3%
7.8M shares · 13F filed Aug 7, 2026 · share of 13F-reported
Geode Capital Management, LLC2.8%
4.1M shares · 13F filed Aug 12, 2026 · share of 13F-reported
1,470 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding.
Insiders, last 12 months (Form 4, open market)
0 purchases · 80 sales · $101M sold
Grants, gifts and tax withholding counted separately · window Oct 14, 2025 – Oct 14, 2026
All metrics
All metrics · 37 SEC metrics, FY2016–FY2025
Income statement 11
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | ||||||||||
| D&A | ||||||||||
| Discontinued operations | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | ||
| Gross profit | ||||||||||
| Income taxes | ||||||||||
| Interest expense | ||||||||||
| Net income | ||||||||||
| Operating income | ||||||||||
| Research and development | ||||||||||
| Revenue | ||||||||||
| SG&A | ||||||||||
Balance sheet 10
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | ||||||||||
| Current liabilities | ||||||||||
| Current portion of long-term debt | ||||||||||
| Equity | ||||||||||
| Equity incl. NCI | ||||||||||
| Long-term debt | ||||||||||
| Short-term debt (balance sheet line) | not reported | |||||||||
| Total assets | ||||||||||
| Total debt calc. | ||||||||||
| Total liabilities & equity | ||||||||||
Cash flow 7
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Buybacks | ||||||||||
| Capex | ||||||||||
| Dividends | ||||||||||
| Free cash flow calc. | ||||||||||
| Interest paid | ||||||||||
| Operating cash flow | ||||||||||
| Stock-based compensation | ||||||||||
Per share & shares 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS basic | ||||||||||
| EPS diluted | ||||||||||
| Wtd. shares basic | ||||||||||
| Wtd. shares diluted | ||||||||||
Other 5
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| NCI income | ||||||||||
| Other income (incl. interest) | ||||||||||
| Pretax income | ||||||||||
| Short-term borrowings / commercial paper | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | ||
| Total liabilities calc. | ||||||||||
Method
extractive: verbatim sentences selected by rules from Item 1, 1A and 7; no AI summary; every sentence matched verbatim against the filing text. Numbers: Hollsteen SEC dataset. Every value opens its SEC source · version history of all values