Motorola Solutions, Inc.
NYSE:MSI · New York Stock Exchange
-$3.21 today
Vol 1.22M · Avg 1.09M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Stock Ticker Earnings Waterfall
NYSE:MSI · Revenue to Net Income
Key Ratios
Analysis
$11.9B of revenue converted into $2.1B of net income for the selected period. Gross margin is 49.3% and net margin is 17.5%, showing how much revenue survives after costs and taxes. EPS is $12.41, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.7B +8.0% | $10.8B +8.4% | $10.0B +9.5% | $9.1B +11.5% | $8.2B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $5.8B +9.7% | $5.3B +5.9% | $5.0B +2.6% | $4.9B +18.2% | $4.1B | $725.6M | $804.0M | $882.4M |
| Gross Profit | $5.9B +6.3% | $5.5B +10.9% | $5.0B +17.5% | $4.2B +4.7% | $4.0B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 50.2% -0.8pp | 51.0% +1.1pp | 49.8% +3.4pp | 46.4% -3.0pp | 49.4% | 9.8% | 28.9% | 38.3% |
| Research & Development | $971.0M +5.9% | $917.0M +6.9% | $858.0M +10.1% | $779.0M +6.1% | $734.0M | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $1.9B +6.6% | $1.8B +12.2% | $1.6B +7.7% | $1.4B +7.2% | $1.4B | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $2.9B +3.6% | $2.8B +5.5% | $2.7B +4.2% | $2.6B +8.2% | $2.4B | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $451.0M +34.2% | $336.0M -5.6% | $356.0M -19.1% | $440.0M +0.5% | $438.0M | $374.2M | $1.2B | $631.8M |
| EBITDA | $3.5B +35.4% | $2.6B -5.4% | $2.8B +25.3% | $2.2B -0.5% | $2.2B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 30.2% +6.1pp | 24.1% -3.5pp | 27.6% +3.5pp | 24.1% -2.9pp | 27.0% | 5.6% | 46.3% | 42.0% |
| Operating Income | $2.9B +9.2% | $2.7B +17.2% | $2.3B +38.1% | $1.7B -0.4% | $1.7B | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 25.1% +0.3pp | 24.8% +1.9pp | 23.0% +4.8pp | 18.2% -2.2pp | 20.4% | 16.6% | 24.1% | 22.0% |
| Interest Income | $58.0M -14.7% | $68.0M +106.1% | $33.0M +135.7% | $14.0M +100.0% | $7.0M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $365.0M +23.7% | $295.0M +18.5% | $249.0M +3.8% | $240.0M +11.6% | $215.0M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$122.0M +83.0% | -$716.0M -383.8% | -$148.0M -1.4% | -$146.0M -27.0% | -$115.0M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $2.8B +42.6% | $2.0B -8.1% | $2.1B +41.7% | $1.5B -2.4% | $1.6B | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 24.1% +5.8pp | 18.2% -3.3pp | 21.5% +4.9pp | 16.6% -2.4pp | 19.0% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $652.0M +67.2% | $390.0M -9.7% | $432.0M +191.9% | $148.0M -51.0% | $302.0M | $1.3B | -$1.6B | $745.2M |
| Net Income | $2.2B +36.6% | $1.6B -7.7% | $1.7B +25.4% | $1.4B +9.5% | $1.2B | $4.9B | $4.8B | $4.7B |
| Net Margin | 18.4% +3.9pp | 14.6% -2.5pp | 17.1% +2.2pp | 15.0% -0.3pp | 15.2% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $13 +36.8% | $9 -7.6% | $10 +25.7% | $8 +10.6% | $7 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $13 +38.2% | $9 -7.0% | $10 +25.2% | $8 +10.6% | $7 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $166.2M -0.4% | $166.8M -0.1% | $167.0M -0.3% | $167.5M -1.0% | $169.2M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $168.1M -1.6% | $170.8M -0.8% | $172.1M +0.1% | $171.9M -1.0% | $173.6M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Western Digital Corporation
NASDAQ:WDC
$257.44B
Seagate Technology Holdings plc
NASDAQ:STX
$238.56B
Fortinet, Inc.
NASDAQ:FTNT
$107.36B
Nokia Oyj
NYSE:NOK
$72.91B
TE Connectivity Ltd.
NYSE:TEL
$63.61B
CoreWeave, Inc. Class A Common Stock
NASDAQ:CRWV
$63.49B
Infosys Limited
NYSE:INFY
$42.52B
Autodesk, Inc.
NASDAQ:ADSK
$40.65B
Ubiquiti Inc.
NYSE:UI
$35.14B
Workday, Inc.
NASDAQ:WDAY
$30.83B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does MSI generate?
Motorola Solutions, Inc. (MSI) reported $11.68B of revenue in fiscal 2025.
Is MSI profitable?
Motorola Solutions, Inc. (MSI) reported $2.15B of net income, with a net margin of 18.4%.
Explore More
Continue the stock analysis
Jump to another research area for this company.