Motorola Solutions, Inc. (MSI) Balance Sheet

NYSE: MSIAssets, liabilities, debt and equity over 10 years.

MSI balance sheet, 2025

December 31, 2025 · U.S. dollars

$19.39B assets = $16.96B liabilities + $2.43B equity

Both columns are drawn to the same scale: what MSI owns equals what it owes plus shareholders’ equity. Hover a block for its value.

MSI financial health

Current ratio1.04

Adequate · current assets cover current liabilities 1.04×

Debt / equity4.05

High leverage · $4.05 of debt for each $1 of equity

Equity / assets12.4%

Thin equity · of assets funded by shareholders

Cash / debt11.9%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles51.1%

Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

MSI balance sheet trends, 2016–2025

Motorola Solutions, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$8.43B2016	$19.39B2025	+9.7%/yr
Total liabilities	$9.38B2016	$16.96B2025	+6.8%/yr
Shareholders’ equity	−$964.0M2016	$2.41B2025	—
Cash & short-term investments	$1.03B2016	$1.17B2025	+1.4%/yr
Total debt	$4.40B2016	$9.77B2025	+9.3%/yr
Net cash (debt)	−$3.37B2016	−$8.60B2025	−$5.2B
Working capital	$800.0M2016	$222.0M2025	−$578.0M
Book value per share	−$5.572016	$14.342025	—
Current ratio	1.302016	1.042025	−0.27
Debt / equity	56.472022	4.052025	−52.42
Shares outstanding	173.1M2016	168.1M2025	−0.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

MSI assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

MSI liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

MSI debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

MSI balance sheet

Motorola Solutions, Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$1.17B	$2.10B	$1.71B	$1.32B	$1.87B	$1.25B	$1.00B	$1.25B	$1.21B	$1.03B
Cash & equivalents	$1.17B	$2.10B	$1.71B	$1.32B	$1.87B	$1.25B	$1.00B	$1.25B	$1.21B	$1.03B
Short-term investments	—	—	—	—	—	$158.0M	—	—	$0	$46.0M
Receivables	$3.77B	$3.18B	$2.81B	$2.49B	$2.49B	$2.32B	$2.46B	$2.31B	$2.07B	$1.89B
Inventory	$983.0M	$766.0M	$827.0M	$1.05B	$788.0M	$508.0M	$447.0M	$356.0M	$327.0M	$273.0M
Other current assets	$378.0M	$429.0M	$381.0M	$383.0M	$259.0M	$242.0M	$272.0M	$365.0M	$346.0M	$241.0M
Total current assets	$6.30B	$6.48B	$5.72B	$5.25B	$5.41B	$4.33B	$4.18B	$4.27B	$3.95B	$3.43B
Property, plant & equipment (net)	$1.75B	$1.55B	$1.46B	$1.41B	$1.42B	$1.49B	$1.55B	$895.0M	$856.0M	$789.0M
Goodwill & intangible assets	$9.90B	$4.78B	$4.66B	$4.65B	$3.67B	$3.45B	$3.39B	$2.74B	$1.80B	$1.55B
Long-term investments	$187.0M	$135.0M	$143.0M	$147.0M	$209.0M	$158.0M	$159.0M	$169.0M	$247.0M	$238.0M
Other non-current assets	$1.25B	$1.66B	$1.35B	$1.35B	$1.47B	$1.45B	$1.36B	$1.33B	$1.36B	$2.42B
Total assets	$19.39B	$14.60B	$13.34B	$12.81B	$12.19B	$10.88B	$10.64B	$9.41B	$8.21B	$8.43B
Liabilities
Accounts payable	$1.33B	$1.18B	$1.02B	$1.21B	$1.09B	$612.0M	$779.0M	$592.0M	$593.0M	$553.0M
Short-term debt	$882.0M	$449.0M	$1.44B	$119.0M	$129.0M	$138.0M	$138.0M	$31.0M	$52.0M	$4.0M
Deferred revenue	$2.27B	$2.07B	$2.04B	$1.86B	$1.65B	$1.55B	$1.45B	$1.26B	$1.04B	$873.0M
Total current liabilities	$6.08B	$5.05B	$5.74B	$4.56B	$4.06B	$3.49B	$3.44B	$3.10B	$2.93B	$2.63B
Long-term debt	$8.41B	$5.67B	$4.71B	$6.01B	$5.69B	$5.16B	$5.11B	$5.29B	$4.42B	$4.39B
Lease obligations	$604.0M	$554.0M	$532.0M	$419.0M	$313.0M	$402.0M	$619.0M	—	—	—
Other long-term liabilities	$2.47B	$2.15B	$2.16B	$2.11B	$2.46B	$2.77B	$2.77B	$2.30B	$2.58B	$2.35B
Total liabilities	$16.96B	$12.88B	$12.60B	$12.68B	$12.21B	$11.42B	$11.32B	$10.69B	$9.94B	$9.38B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$355.0M	$207.0M
Retained earnings (deficit)	$2.55B	$2.30B	$1.64B	$1.34B	$1.35B	$1.13B	$1.24B	$1.05B	$467.0M	$1.15B
Treasury stock	—	—	—	—	—	—	—	—	$0	$0
Accumulated other comprehensive income	−$2.42B	−$2.54B	−$2.54B	−$2.54B	−$2.38B	−$2.45B	−$2.44B	−$2.77B	−$2.56B	−$2.32B
Minority interest	$17.0M	$16.0M	$15.0M	$15.0M	$17.0M	$17.0M	$17.0M	$17.0M	$15.0M	$12.0M
Total shareholders' equity	$2.41B	$1.70B	$724.0M	$116.0M	−$40.0M	−$558.0M	−$700.0M	−$1.29B	−$1.74B	−$964.0M
Key figures
Total debt	$9.77B	$6.55B	$6.55B	$6.55B	$6.13B	$5.70B	$5.75B	$5.32B	$4.47B	$4.40B
Net cash (debt)	−$8.60B	−$4.45B	−$4.84B	−$5.23B	−$4.26B	−$4.45B	−$4.75B	−$4.07B	−$3.27B	−$3.37B
Working capital	$222.0M	$1.42B	−$11.0M	$695.0M	$1.35B	$838.0M	$739.0M	$1.18B	$1.02B	$800.0M
Tangible book value	−$7.49B	−$3.07B	−$3.93B	−$4.54B	−$3.71B	−$4.01B	−$4.09B	−$4.04B	−$3.54B	−$2.51B
Book value per share	$14.34	$9.97	$4.21	$0.67	−$0.23	−$3.21	−$3.99	−$7.52	−$10.69	−$5.57
Shares outstanding	168.1M	170.8M	172.1M	171.9M	173.6M	174.1M	175.6M	172.0M	162.9M	173.1M
Current ratio	1.04	1.28	1.00	1.15	1.33	1.24	1.21	1.38	1.35	1.30
Quick ratio	0.81	1.05	0.79	0.84	1.07	1.03	1.01	1.15	1.12	1.11
Debt / equity	4.05	3.85	9.05	56.47	—	—	—	—	—	—
Equity / assets	12.4%	11.7%	5.4%	0.9%	−0.3%	−5.1%	−6.6%	−13.7%	−21.2%	−11.4%

Motorola Solutions, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$710.0M	$886.0M	$1.17B	$894.0M	$3.21B	$1.56B	$2.10B	$1.40B	$1.38B	$1.51B	$1.71B	$910.0M
Cash & equivalents	$710.0M	$886.0M	$1.17B	$894.0M	$3.21B	$1.56B	$2.10B	$1.40B	$1.38B	$1.51B	$1.71B	$910.0M
Receivables	$2.63B	$3.48B	$3.77B	$3.61B	$3.27B	$3.06B	$3.18B	$3.15B	$2.97B	$2.72B	$2.81B	$2.76B
Inventory	$1.33B	$1.18B	$983.0M	$943.0M	$861.0M	$833.0M	$766.0M	$816.0M	$803.0M	$840.0M	$827.0M	$959.0M
Other current assets	$1.46B	$323.0M	$378.0M	$285.0M	$381.0M	$444.0M	$429.0M	$439.0M	$415.0M	$450.0M	$381.0M	$404.0M
Total current assets	$6.13B	$5.87B	$6.30B	$5.73B	$7.71B	$5.90B	$6.48B	$5.81B	$5.57B	$5.52B	$5.72B	$5.03B
Property, plant & equipment (net)	$1.17B	$1.77B	$1.75B	$1.68B	$1.66B	$1.56B	$1.55B	$1.57B	$1.51B	$1.49B	$1.46B	$1.38B
Goodwill & intangible assets	$9.83B	$9.93B	$9.90B	$9.91B	$5.20B	$5.19B	$4.78B	$4.82B	$4.61B	$4.64B	$4.66B	$4.50B
Long-term investments	$300.0M	$187.0M	$187.0M	$192.0M	$180.0M	$161.0M	$135.0M	$140.0M	$127.0M	$141.0M	$143.0M	$142.0M
Other non-current assets	$1.81B	$1.32B	$1.25B	$1.29B	$1.66B	$1.62B	$1.66B	$1.55B	$1.52B	$1.53B	$1.35B	$1.38B
Total assets	$19.24B	$19.08B	$19.39B	$18.80B	$16.41B	$14.43B	$14.60B	$13.89B	$13.35B	$13.33B	$13.34B	$12.44B
Liabilities
Accounts payable	$1.13B	$1.11B	$1.33B	$940.0M	$1.08B	$1.01B	$1.18B	$1.05B	$1.02B	$822.0M	$881.0M	$859.0M
Short-term debt	$760.0M	$680.0M	$882.0M	$1.06B	$199.0M	$436.0M	$449.0M	$453.0M	$689.0M	$435.0M	$1.44B	$1.43B
Deferred revenue	$2.34B	$2.30B	$2.27B	$2.07B	$2.02B	$1.98B	$2.07B	$1.94B	$1.85B	$1.89B	$2.04B	$1.90B
Total current liabilities	$5.58B	$5.56B	$6.08B	$5.66B	$4.46B	$4.92B	$5.05B	$4.67B	$4.64B	$4.63B	$5.74B	$5.29B
Long-term debt	$8.42B	$8.41B	$8.41B	$8.41B	$7.66B	$5.68B	$5.67B	$5.67B	$5.74B	$5.99B	$4.71B	$4.70B
Lease obligations	$587.0M	$624.0M	$604.0M	$597.0M	$601.0M	$526.0M	$554.0M	$575.0M	$545.0M	$569.0M	$532.0M	$368.0M
Other long-term liabilities	$2.56B	$2.54B	$2.47B	$2.38B	$2.30B	$2.17B	$2.15B	$2.21B	$2.14B	$2.17B	$2.16B	$2.07B
Total liabilities	$16.55B	$16.52B	$16.96B	$16.45B	$14.43B	$12.77B	$12.88B	$12.55B	$12.53B	$12.79B	$12.60B	$12.06B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M
Retained earnings (deficit)	$2.63B	$2.60B	$2.55B	$2.59B	$2.33B	$2.22B	$2.30B	$1.97B	$1.61B	$1.40B	$1.64B	$1.33B
Accumulated other comprehensive income	−$2.42B	−$2.42B	−$2.42B	−$2.42B	−$2.41B	−$2.50B	−$2.54B	−$2.47B	−$2.55B	−$2.55B	−$2.54B	−$2.50B
Minority interest	$16.0M	$19.0M	$17.0M	$17.0M	$16.0M	—	—	—	—	—	—	—
Total shareholders' equity	$2.67B	$2.54B	$2.41B	$2.33B	$1.97B	$1.64B	$1.70B	$1.33B	$802.0M	$521.0M	$724.0M	$362.0M
Key figures
Total debt	$9.62B	$9.59B	$9.77B	$9.94B	$8.33B	$6.53B	$6.55B	$6.57B	$6.85B	$6.88B	$6.55B	$6.50B
Net cash (debt)	−$8.91B	−$8.70B	−$8.60B	−$9.04B	−$5.13B	−$4.96B	−$4.45B	−$5.17B	−$5.47B	−$5.36B	−$4.84B	−$5.59B
Working capital	$553.0M	$311.0M	$222.0M	$75.0M	$3.25B	$977.0M	$1.42B	$1.14B	$927.0M	$895.0M	−$11.0M	−$256.0M
Tangible book value	−$7.16B	−$7.39B	−$7.49B	−$7.58B	−$3.23B	−$3.55B	−$3.07B	−$3.49B	−$3.81B	−$4.12B	−$3.93B	−$4.13B
Book value per share	$15.98	$15.14	$14.34	$13.77	$11.66	$9.66	$9.97	$7.76	$4.71	$3.13	$4.22	$2.11
Shares outstanding	167.2M	168.0M	168.1M	169.0M	168.8M	169.8M	170.8M	170.9M	170.3M	166.3M	171.5M	171.7M
Current ratio	1.10	1.06	1.04	1.01	1.73	1.20	1.28	1.25	1.20	1.19	1.00	0.95
Quick ratio	0.60	0.79	0.81	0.80	1.45	0.94	1.05	0.98	0.94	0.91	0.79	0.69
Debt / equity	3.60	3.77	4.05	4.27	4.23	3.98	3.85	4.96	8.54	13.20	9.05	17.96
Equity / assets	13.9%	13.3%	12.4%	12.4%	12.0%	11.4%	11.7%	9.5%	6.0%	3.9%	5.4%	2.9%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.

MSI financial position

At the end of fiscal 2025 (December 31, 2025), Motorola Solutions had total assets of $19.4 billion (up 32.8% from a year earlier), total liabilities of $17.0 billion and shareholders' equity of $2.4 billion. It held $1.2 billion in cash and short-term investments against $9.8 billion of debt, net debt of $8.6 billion. Its current ratio was 1.04. In the latest quarter (ended June 30, 2026) total assets were $19.2 billion and equity $2.7 billion.

Related: MSI income statement, MSI cash flow statement, MSI key metrics. See the MSI stock overview for the latest quote and news.

MSI balance sheet FAQ

What are Motorola Solutions's total assets?

Motorola Solutions reported total assets of $19.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $14.6 billion a year earlier.

How much debt does Motorola Solutions have?

Motorola Solutions had $9.8 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 4.05.

How much cash does Motorola Solutions have?

Motorola Solutions held $1.2 billion in cash and short-term investments at the end of fiscal 2025; with $9.8 billion of debt that is net debt of $8.6 billion.

What is Motorola Solutions's book value?

Motorola Solutions's shareholders' equity (book value) was $2.4 billion at the end of fiscal 2025, or $14.34 per share.

What is Motorola Solutions's current ratio?

Motorola Solutions had current assets of $6.3 billion and current liabilities of $6.1 billion, a current ratio of 1.04 (it can cover its short-term obligations).

How much goodwill does Motorola Solutions have?

Motorola Solutions carried $9.9 billion of goodwill and intangible assets, 51.1% of total assets, at the end of fiscal 2025.