Motorola Solutions, Inc.
TechnologyNYSE:MSI · New York Stock Exchange
+$1.00 today
Vol 0.20M · 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.
Earnings Waterfall
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
Seagate Technology Holdings plc
NASDAQ:STX
$211.31B
Western Digital Corporation
NASDAQ:WDC
$195.87B
Fortinet, Inc.
NASDAQ:FTNT
$106.61B
Nokia Oyj
NYSE:NOK
$81.07B
TE Connectivity Ltd.
NYSE:TEL
$61.78B
CoreWeave, Inc. Class A Common Stock
NASDAQ:CRWV
$56.50B
Infosys Limited
NYSE:INFY
$47.86B
Autodesk, Inc.
NASDAQ:ADSK
$41.62B
Ubiquiti Inc.
NYSE:UI
$35.59B
Workday, Inc.
NASDAQ:WDAY
$33.74B
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.