undamentalytics Newsletter
Sign in

Motorola Solutions key statistics and ratios

In fiscal 2025, Motorola Solutions had return on equity of 104.7%, an operating margin of 25.6%, debt equal to 380.2% of equity and a current ratio of 1.04. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJul 2026
Gross margin50.1%50.0%50.5%50.9%49.9%48.1%47.7%47.5%47.4%47.4%49.8%48.7%49.4%46.4%49.8%51.0%51.7%52.0%
Operating margin8.2%9.9%10.5%14.7%15.2%−17.1%17.5%17.4%20.1%17.1%20.0%18.7%20.4%18.2%23.0%24.8%25.6%24.9%
Net margin−0.7%8.3%14.1%14.1%17.6%22.1%10.7%9.3%−2.4%13.2%11.0%12.8%15.2%15.0%17.1%14.6%18.4%17.4%
Free-cash-flow margin7.1%8.0%8.1%8.0%6.2%−13.9%14.9%14.8%17.5%12.0%20.0%18.8%19.5%17.2%17.9%19.7%22.0%21.9%
Return on equity−0.5%6.1%14.4%20.8%31.7%40.6%46.4%————————130.0%104.7%84.0%
Return on assets−0.2%2.5%5.9%6.6%9.0%11.7%6.5%6.7%−1.9%11.0%8.7%8.8%10.8%10.9%13.1%11.3%12.7%11.0%
Asset turnover0.270.300.420.470.510.530.610.720.770.830.790.690.710.730.760.770.690.63
Current ratio1.941.972.302.222.183.062.111.301.351.381.211.241.331.151.001.281.041.10
Debt to equity39.9%39.5%29.4%57.1%67.3%124.6%———————>999%831.4%352.2%380.2%338.1%
Interest cover (operating income ÷ interest)2.7x3.5x6.5x8.5x7.2xn/m5.3x4.7x6.0x5.2x6.7x5.9x7.8x6.9x9.2x9.1x8.3x6.9x
Effective tax rate29.7%60.7%−0.4%24.0%−6.7%—29.9%33.4%—12.1%13.0%18.8%19.5%9.8%20.1%19.8%23.2%22.7%
R&D as % of revenue14.3%13.6%12.6%12.6%12.2%11.6%10.9%9.2%8.9%8.7%8.7%9.3%9.0%8.5%8.6%8.5%8.3%8.3%
SG&A as % of revenue23.9%24.6%23.3%23.5%21.4%20.1%17.9%17.3%16.1%17.1%17.8%17.4%16.6%15.9%15.6%16.2%16.0%15.7%
Capital spending as % of revenue2.0%2.5%2.3%2.7%2.7%3.1%3.1%4.5%3.6%2.7%3.1%2.9%3.0%2.8%2.5%2.4%2.3%2.4%
Free cash flow ÷ net income—96.5%57.2%57.2%35.1%−63.0%138.7%159.6%—90.9%181.5%147.1%128.0%115.0%104.8%135.3%119.4%125.4%
Dividends ÷ net income—0.0%0.7%30.6%26.6%24.5%45.4%50.0%—34.9%43.7%45.9%38.7%38.9%34.5%41.5%33.8%35.9%
Dividends and buybacks ÷ free cash flow23.2%0.0%168.9%537.3%514.5%—408.3%125.5%70.6%53.4%44.1%75.1%63.4%87.2%77.8%42.1%73.2%68.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 5 checks passed · July 4, 2026
What it owns · $19.2bn
Short-term assets $6.1bnLonger-term assets $13.1bn
What it owes, and who funded it · $8.3bn
Short-term liabilities $5.6bnShareholders' equity $2.7bn
  • Short-term assets cover short-term liabilities $6.1bn of assets due within a year against $5.6bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $710m of cash against $9.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 338% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $3.0bn of operating cash flow against $9.0bn of debt.
  • Operating profit covers interest at least five times over Operating income of $3.0bn against $440m of interest.

From Motorola Solutions's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

85 /100

Strong moat

How hard Motorola Solutions's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 24.5% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 48.7%, moving by 1.5 percentage points (standard deviation) across 10 years.

  • Durability 16 / 20

    Operating margin has been a median 19.7%; its worst year was 18.2%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 19.5% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 3.0% over five years; stock-based pay has been a median 1.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (90 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: ANET vs MSIERIC vs MSICIEN vs MSI

More: Communications Equipment stocks compared, Technology sector, rankings of US companies

Figures from Motorola Solutions's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Motorola Solutions.