Motorola Solutions, Inc. (MSI) Income Statement
MSI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsMSI revenue and net income
Where MSI's revenue goes
2025Each bar shows an amount and its share of revenue. MSI kept 18.4% of revenue as net income.
MSI profit margins
MSI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.0% | +8.6% | +9.5% | +7.4% |
| Gross profit | +6.3% | +11.5% | +10.2% | +8.0% |
| Operating income | +9.2% | +20.9% | +16.2% | +11.4% |
| Net income | +36.6% | +16.5% | +17.8% | +13.4% |
| EPS (diluted) | +8.2% | +13.0% | +14.2% | +15.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MSI quarterly EPS vs estimates
Motorola Solutions beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 29, 2026 (estimate $3.99).
MSI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.68B | $10.82B | $9.98B | $9.11B | $8.17B | $7.41B | $7.89B | $7.34B | $6.38B | $6.04B |
| Cost of revenue | $5.82B | $5.30B | $5.01B | $4.88B | $4.13B | $3.81B | $3.96B | $3.86B | $3.36B | $3.17B |
| Gross profit | $5.86B | $5.51B | $4.97B | $4.23B | $4.04B | $3.61B | $3.93B | $3.48B | $3.02B | $2.87B |
| Research & development | $971.0M | $917.0M | $858.0M | $779.0M | $734.0M | $686.0M | $687.0M | $637.0M | $568.0M | $553.0M |
| Sales, general & admin | $1.84B | $1.75B | $1.56B | $1.45B | $1.35B | $1.29B | $1.40B | $1.25B | $1.02B | $1.04B |
| Total operating expenses | $2.93B | $2.82B | $2.42B | $2.57B | $2.37B | $2.23B | $2.35B | $2.23B | $1.74B | $1.82B |
| Operating income | $2.94B | $2.69B | $2.29B | $1.66B | $1.67B | $1.38B | $1.58B | $1.25B | $1.28B | $1.05B |
| Interest income | $283.0M | $68.0M | $33.0M | $193.0M | $199.0M | $222.0M | $17.0M | $18.0M | $14.0M | $20.0M |
| Interest expense | $365.0M | $295.0M | $216.0M | $240.0M | $215.0M | $233.0M | $237.0M | $240.0M | $215.0M | $225.0M |
| Income before taxes | $2.81B | $1.97B | $2.15B | $1.51B | $1.55B | $1.17B | $1.00B | $1.10B | $1.08B | $844.0M |
| Income taxes | $652.0M | $390.0M | $432.0M | $148.0M | $302.0M | $221.0M | $130.0M | $133.0M | $1.23B | $282.0M |
| Net income | $2.15B | $1.58B | $1.71B | $1.36B | $1.25B | $949.0M | $868.0M | $966.0M | −$155.0M | $560.0M |
| EBITDA | $3.50B | $2.60B | $2.29B | $2.19B | $2.21B | $1.82B | $1.63B | $1.70B | $1.63B | $1.36B |
| EPS (diluted) | $14.96 | $13.83 | $11.96 | $10.37 | $9.14 | $7.69 | $7.95 | $7.13 | $5.46 | $4.95 |
| Gross margin | 50.2% | 51.0% | 49.8% | 46.4% | 49.4% | 48.7% | 49.8% | 47.4% | 47.4% | 47.5% |
| Operating margin | 25.1% | 24.8% | 23.0% | 18.2% | 20.4% | 18.7% | 20.0% | 17.1% | 20.1% | 17.4% |
| Net margin | 18.4% | 14.6% | 17.1% | 15.0% | 15.2% | 12.8% | 11.0% | 13.2% | −2.4% | 9.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.13B | $2.71B | $3.38B | $3.01B | $2.77B | $2.53B | $3.01B | $2.79B | $2.63B | $2.39B | $2.85B | $2.56B |
| Cost of revenue | $1.46B | $1.43B | $1.73B | $1.51B | $1.35B | $1.23B | $1.46B | $1.36B | $1.29B | $1.20B | $1.39B | $1.28B |
| Gross profit | $1.68B | $1.29B | $1.65B | $1.50B | $1.41B | $1.30B | $1.55B | $1.43B | $1.34B | $1.19B | $1.46B | $1.28B |
| Research & development | $260.0M | $252.0M | $270.0M | $237.0M | $231.0M | $233.0M | $246.0M | $234.0M | $220.0M | $218.0M | $218.0M | $215.0M |
| Sales, general & admin | $496.0M | $439.0M | $496.0M | $485.0M | $450.0M | $436.0M | $487.0M | $439.0M | $460.0M | $428.0M | $448.0M | $380.0M |
| Total operating expenses | $869.0M | $691.0M | $768.0M | $720.0M | $721.0M | $718.0M | $735.0M | $722.0M | $695.0M | $673.0M | $717.0M | $641.0M |
| Operating income | $809.0M | $595.0M | $879.0M | $782.0M | $692.0M | $582.0M | $814.0M | $711.0M | $644.0M | $519.0M | $738.0M | $639.0M |
| Interest income | $6.0M | $7.0M | $112.0M | $17.0M | $16.0M | $18.0M | $18.0M | $15.0M | $18.0M | $17.0M | — | $64.0M |
| Interest expense | $109.0M | $111.0M | $122.0M | $103.0M | $71.0M | $69.0M | $74.0M | $73.0M | $87.0M | $61.0M | $63.0M | $60.0M |
| Income before taxes | $742.0M | $441.0M | $861.0M | $725.0M | $680.0M | $547.0M | $788.0M | $695.0M | $580.0M | −$90.0M | $708.0M | $592.0M |
| Income taxes | $184.0M | $73.0M | $211.0M | $161.0M | $165.0M | $115.0M | $176.0M | $132.0M | $135.0M | −$52.0M | $111.0M | $127.0M |
| Net income | $557.0M | $366.0M | $649.0M | $562.0M | $513.0M | $430.0M | $611.0M | $562.0M | $443.0M | −$39.0M | $596.0M | $464.0M |
| EBITDA | $999.0M | $695.0M | $1.13B | $943.0M | $837.0M | $697.0M | $948.0M | $852.0M | $750.0M | $54.0M | $878.0M | $738.0M |
| EPS (diluted) | $3.93 | $3.37 | $4.59 | $4.06 | $3.13 | $3.18 | $4.04 | $3.74 | $3.24 | $2.81 | $3.90 | $3.19 |
| Gross margin | 53.6% | 47.4% | 48.7% | 49.9% | 51.1% | 51.4% | 51.4% | 51.4% | 51.0% | 49.9% | 51.1% | 50.1% |
| Operating margin | 25.8% | 21.9% | 26.0% | 26.0% | 25.0% | 23.0% | 27.0% | 25.5% | 24.5% | 21.7% | 25.9% | 25.0% |
| Net margin | 17.8% | 13.5% | 19.2% | 18.7% | 18.6% | 17.0% | 20.3% | 20.1% | 16.9% | −1.6% | 20.9% | 18.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in MSI's financial statements (latest annual report filed February 12, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MSI financial results
In fiscal year 2025 (ended December 31, 2025), Motorola Solutions reported revenue of $11.7 billion, up 8.0% from the year before. It had net income of $2.2 billion (up 36.6%), a net profit margin of 18.4%. Diluted earnings per share came to $14.96. Over five years revenue grew at an average rate of 9.5% a year.
See the MSI stock overview for the latest quote and news, or the MSI chart for price history and technical indicators.
MSI income statement FAQ
What is Motorola Solutions's annual revenue?
Motorola Solutions reported total revenue of $11.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 8.0% from $10.8 billion the previous year.
Is Motorola Solutions profitable?
Yes. Motorola Solutions reported net income of $2.2 billion in fiscal 2025, a net profit margin of 18.4%; its operating margin was 25.1%.
What is Motorola Solutions's gross margin?
Motorola Solutions's gross margin was 50.2% in fiscal 2025: for every $100 of revenue, Motorola Solutions kept $50 after the direct cost of its products and services.
How much does Motorola Solutions spend on research and development?
Motorola Solutions spent $971.0 million on research and development in fiscal 2025, 8.3% of revenue.
How fast is Motorola Solutions growing?
Revenue grew 9.5% a year on average over the last five fiscal years, from $7.4 billion to $11.7 billion.
What are Motorola Solutions's earnings per share?
Motorola Solutions earned $14.96 per diluted share in fiscal 2025, compared with $13.83 a year earlier.
When will Motorola Solutions report its next earnings?
Motorola Solutions is expected to report results for the quarter ending September 30, 2026 on October 29, 2026.
When does Motorola Solutions's fiscal year end?
Motorola Solutions's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 12, 2026.