Motorola Solutions, Inc. (MSI) Key Metrics
MSI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $76.65B
- Enterprise value
- $85.11B
- P/E (TTM)
- 36.5 10-yr median 31.5
- Forward P/E
- 23.9
- PEG ratio
- 2.02
- Price / sales
- 6.3 10-yr median 4.4
- Price / book
- 28.5 10-yr median 60.4
- EV / EBITDA
- 22.9 10-yr median 20.6
- Dividend yield
- 1.05% $4.84 a year
- Beta
- 0.89
MSI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsMSI valuation Price multiples at each fiscal year-end price.
MSI returns How much profit the business earns on the capital it uses.
MSI per-share figures Results divided by the shares outstanding at year-end.
MSI financial health Debt, liquidity and how easily interest is covered.
MSI efficiency & capital use Working capital cycle and where the cash goes.
MSI valuation history
MSI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MSI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MSI cash returned to shareholders
MSI price vs earnings per share
MSI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $64.44B | $78.95B | $53.88B | $44.30B | $47.17B | $29.61B | $28.30B | $19.79B | $14.72B | $14.35B |
| Enterprise value | $73.04B | $83.40B | $58.73B | $49.53B | $51.42B | $34.06B | $33.04B | $23.86B | $17.98B | $17.71B |
| P/E ratio | 29.9 | 50.1 | 31.5 | 32.5 | 37.9 | 31.2 | 32.6 | 20.5 | — | 25.6 |
| Price / sales | 5.5 | 7.3 | 5.4 | 4.9 | 5.8 | 4.0 | 3.6 | 2.7 | 2.3 | 2.4 |
| Price / book | 26.7 | 46.4 | 74.4 | 381.9 | — | — | — | — | — | — |
| Price / free cash flow | 25.1 | 37.0 | 30.1 | 28.3 | 29.6 | 21.2 | 18.0 | 22.5 | 13.2 | 16.0 |
| Price / operating cash flow | 22.7 | 33.0 | 26.4 | 24.3 | 25.7 | 18.4 | 15.5 | 18.4 | 10.9 | 12.3 |
| EV / sales | 6.3 | 7.7 | 5.9 | 5.4 | 6.3 | 4.6 | 4.2 | 3.2 | 2.8 | 2.9 |
| EV / EBITDA | 20.9 | 32.0 | 25.6 | 22.6 | 23.3 | 18.8 | 20.2 | 14.0 | 11.0 | 13.0 |
| EV / free cash flow | 28.4 | 39.1 | 32.8 | 31.6 | 32.3 | 24.4 | 21.0 | 27.2 | 16.1 | 19.8 |
| Earnings yield | 3.3% | 2.0% | 3.2% | 3.1% | 2.6% | 3.2% | 3.1% | 4.9% | −1.1% | 3.9% |
| Free cash flow yield | 4.0% | 2.7% | 3.3% | 3.5% | 3.4% | 4.7% | 5.6% | 4.4% | 7.6% | 6.2% |
| Dividend yield | 1.1% | 0.8% | 1.1% | 1.2% | 1.0% | 1.5% | 1.3% | 1.7% | 2.1% | 2.0% |
| Shareholder yield (dividends + buybacks) | 2.9% | 1.1% | 2.6% | 3.1% | 2.1% | 3.5% | 2.5% | 2.4% | 5.4% | 7.8% |
| Share price at fiscal year-end | $383.32 | $462.23 | $313.09 | $257.71 | $271.70 | $170.06 | $161.14 | $115.04 | $90.34 | $82.89 |
| Per share | ||||||||||
| Revenue per share | $69.49 | $63.33 | $57.98 | $53.01 | $47.07 | $42.58 | $44.91 | $42.69 | $39.17 | $34.88 |
| Earnings per share | $12.81 | $9.23 | $9.93 | $7.93 | $7.17 | $5.45 | $4.94 | $5.62 | −$0.95 | $3.24 |
| Operating cash flow per share | $16.88 | $14.00 | $11.88 | $10.61 | $10.58 | $9.26 | $10.38 | $6.25 | $8.26 | $6.73 |
| Free cash flow per share | $15.30 | $12.49 | $10.41 | $9.12 | $9.18 | $8.02 | $8.97 | $5.10 | $6.87 | $5.16 |
| Cash per share | $6.93 | $12.31 | $9.91 | $7.71 | $10.79 | $7.20 | $5.70 | $7.24 | $7.40 | $5.95 |
| Book value per share | $14.34 | $9.97 | $4.21 | $0.67 | −$0.23 | −$3.21 | −$3.99 | −$7.52 | −$10.69 | −$5.57 |
| Tangible book value per share | −$44.58 | −$17.99 | −$22.85 | −$26.40 | −$21.37 | −$23.04 | −$23.31 | −$23.47 | −$21.74 | −$14.52 |
| Dividends per share | $4.33 | $3.83 | $3.42 | $3.08 | $2.78 | $2.50 | $2.16 | $1.96 | $1.88 | $1.62 |
| Capex per share | $1.58 | $1.50 | $1.47 | $1.49 | $1.40 | $1.25 | $1.41 | $1.15 | $1.39 | $1.57 |
| Debt per share | $58.10 | $38.35 | $38.06 | $38.11 | $35.31 | $32.76 | $32.73 | $30.93 | $27.45 | $25.40 |
| Shares outstanding | 168.1M | 170.8M | 172.1M | 171.9M | 173.6M | 174.1M | 175.6M | 172.0M | 162.9M | 173.1M |
| Change in shares outstanding | −1.6% | −0.8% | +0.1% | −1.0% | −0.3% | −0.9% | +2.1% | +5.6% | −5.9% | −14.2% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 104.7% | 130.0% | 406.9% | — | — | — | — | — | — | — |
| Return on invested capital (ROIC) | 26.3% | 36.8% | 33.6% | 31.4% | 33.1% | 28.3% | 40.3% | 51.3% | 32.7% | 29.7% |
| Return on assets (ROA) | 12.7% | 11.3% | 13.1% | 10.9% | 10.8% | 8.8% | 8.7% | 11.0% | −1.9% | 6.7% |
| Return on tangible assets | 22.7% | 16.1% | 19.7% | 16.7% | 14.6% | 12.8% | 12.0% | 14.5% | −2.4% | 8.1% |
| Free cash flow margin | 22.0% | 19.7% | 17.9% | 17.2% | 19.5% | 18.8% | 20.0% | 12.0% | 17.5% | 14.8% |
| Income quality (OCF / net income) | 1.32 | 1.52 | 1.20 | 1.34 | 1.48 | 1.70 | 2.10 | 1.11 | — | 2.08 |
| Financial health | ||||||||||
| Total debt | $9.77B | $6.55B | $6.55B | $6.55B | $6.13B | $5.70B | $5.75B | $5.32B | $4.47B | $4.40B |
| Cash & short-term investments | $1.17B | $2.10B | $1.71B | $1.32B | $1.87B | $1.25B | $1.00B | $1.25B | $1.21B | $1.03B |
| Net debt | $8.60B | $4.45B | $4.84B | $5.23B | $4.26B | $4.45B | $4.75B | $4.07B | $3.27B | $3.37B |
| Debt / equity | 4.05 | 3.85 | 9.05 | 56.47 | — | — | — | — | — | — |
| Debt / assets | 0.50 | 0.45 | 0.49 | 0.51 | 0.50 | 0.52 | 0.54 | 0.57 | 0.54 | 0.52 |
| Net debt / EBITDA | 2.46 | 1.71 | 2.11 | 2.38 | 1.93 | 2.45 | 2.91 | 2.39 | 2.00 | 2.47 |
| Current ratio | 1.04 | 1.28 | 1.00 | 1.15 | 1.33 | 1.24 | 1.21 | 1.38 | 1.35 | 1.30 |
| Quick ratio | 0.87 | 1.13 | 0.85 | 0.92 | 1.14 | 1.09 | 1.08 | 1.26 | 1.24 | 1.20 |
| Interest coverage | 8.0 | 9.1 | 10.6 | 6.9 | 7.8 | 5.9 | 6.7 | 5.2 | 6.0 | 4.7 |
| Working capital | $222.0M | $1.42B | −$11.0M | $695.0M | $1.35B | $838.0M | $739.0M | $1.18B | $1.02B | $800.0M |
| Invested capital | $11.01B | $6.15B | $5.57B | $5.34B | $4.22B | $3.89B | $4.05B | $2.78B | $1.52B | $2.40B |
| Tangible asset value | −$7.48B | −$3.06B | −$3.92B | −$4.52B | −$3.69B | −$3.99B | −$4.08B | −$4.02B | −$3.53B | −$2.50B |
| Net current asset value | −$10.66B | −$6.40B | −$6.87B | −$7.43B | −$6.80B | −$7.09B | −$7.15B | −$6.41B | −$5.99B | −$5.95B |
| Graham number | $64.29 | $45.51 | $30.66 | $10.97 | — | — | — | — | — | — |
| Graham net-net per share | −$74.21 | −$46.86 | −$48.63 | −$52.13 | −$46.52 | −$46.91 | −$47.02 | −$43.79 | −$43.05 | −$39.26 |
| Capital allocation | ||||||||||
| Dividends paid | $728.0M | $654.0M | $589.0M | $530.0M | $482.0M | $436.0M | $379.0M | $337.0M | $307.0M | $280.0M |
| Share buybacks (net) | $1.15B | $247.0M | $804.0M | $836.0M | $528.0M | $612.0M | $315.0M | $132.0M | $483.0M | $842.0M |
| Dividend payout ratio | 33.8% | 41.5% | 34.5% | 38.9% | 38.7% | 45.9% | 43.7% | 34.9% | — | 50.0% |
| Dividends + buybacks / free cash flow | 73.2% | 42.2% | 77.8% | 87.2% | 63.4% | 75.1% | 44.1% | 53.4% | 70.6% | 125.5% |
| Capex / revenue | 2.3% | 2.4% | 2.5% | 2.8% | 3.0% | 2.9% | 3.1% | 2.7% | 3.6% | 4.5% |
| Capex / operating cash flow | 9.3% | 10.7% | 12.4% | 14.0% | 13.2% | 13.5% | 13.6% | 18.3% | 16.9% | 23.3% |
| Capex / depreciation | 0.62 | 0.76 | 0.71 | 0.58 | 0.55 | 0.53 | 0.63 | 0.55 | 0.66 | 0.92 |
| Stock-based compensation / revenue | 2.5% | 2.2% | 2.1% | 1.9% | 1.6% | 1.7% | 1.5% | 1.0% | 1.0% | 1.1% |
| R&D / revenue | 8.3% | 8.5% | 8.6% | 8.5% | 9.0% | 9.3% | 8.7% | 8.7% | 8.9% | 9.2% |
| SG&A / revenue | 15.7% | 16.2% | 15.6% | 15.9% | 16.6% | 17.4% | 17.8% | 17.1% | 16.1% | 17.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 108.7 | 101.1 | 97.0 | 99.8 | 107.5 | 117.7 | 110.2 | 108.8 | 113.2 | 109.5 |
| Days of inventory on hand | 54.8 | 54.8 | 68.6 | 68.9 | 57.3 | 45.8 | 37.0 | 32.3 | 32.6 | 32.8 |
| Days payables outstanding | 78.6 | 75.6 | 81.2 | 85.7 | 75.0 | 66.7 | 63.2 | 56.0 | 62.3 | 61.7 |
| Cash conversion cycle (days) | 84.9 | 80.3 | 84.4 | 83.0 | 89.8 | 96.8 | 84.0 | 85.1 | 83.5 | 80.6 |
| Receivables turnover | 3.36 | 3.61 | 3.76 | 3.66 | 3.39 | 3.10 | 3.31 | 3.36 | 3.22 | 3.33 |
| Payables turnover | 4.64 | 4.82 | 4.50 | 4.26 | 4.87 | 5.47 | 5.77 | 6.52 | 5.86 | 5.92 |
| Inventory turnover | 6.66 | 6.66 | 5.32 | 5.30 | 6.38 | 7.97 | 9.85 | 11.31 | 11.19 | 11.14 |
| Asset turnover | 0.69 | 0.77 | 0.76 | 0.73 | 0.71 | 0.69 | 0.79 | 0.83 | 0.77 | 0.72 |
| Average receivables | $3.48B | $3.00B | $2.65B | $2.49B | $2.41B | $2.39B | $2.38B | $2.19B | $1.98B | $1.81B |
| Average payables | $1.25B | $1.10B | $1.11B | $1.15B | $849.0M | $695.5M | $685.5M | $592.5M | $573.0M | $535.5M |
| Average inventory | $874.5M | $796.5M | $941.0M | $921.5M | $648.0M | $477.5M | $401.5M | $341.5M | $300.0M | $284.5M |
| Intangibles / total assets | 51.1% | 32.7% | 34.9% | 36.3% | 30.1% | 31.7% | 31.9% | 29.2% | 21.9% | 18.4% |
Computed from MSI's annual financial statements (latest annual report filed February 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MSI valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Motorola Solutions traded at 29.9 times earnings, against a 10-year median of 31.5. Based on the latest twelve months, the trailing P/E is 36.5 and the forward P/E is 23.9. Motorola Solutions earned a return on equity of 104.7% and a return on invested capital of 26.3% in fiscal 2025. It ended the year with $9.8 billion of debt and $1.2 billion in cash and short-term investments, net debt of $8.6 billion. It returned $1.9 billion to shareholders: $728.0 million in dividends and $1.2 billion in share buybacks, 73% of free cash flow.
See the MSI income statement, the MSI chart for price history, or the MSI stock overview for the latest quote and news.
MSI key metrics FAQ
What is Motorola Solutions's P/E ratio?
Motorola Solutions's trailing P/E ratio is 36.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 23.9. At the end of fiscal 2025 it was 29.9, compared with a 10-year median of 31.5.
What is Motorola Solutions's EV/EBITDA?
Motorola Solutions's enterprise value was 20.9 times EBITDA at the end of fiscal 2025 (enterprise value $73.0 billion, EBITDA $3.5 billion); the current EV/EBITDA is 22.9.
What is Motorola Solutions's return on equity?
Motorola Solutions's return on equity (ROE) was 104.7% in fiscal 2025: net income of $2.2 billion on average shareholders' equity of $2.1 billion. ROE is high partly because years of buybacks have reduced equity on the balance sheet.
What is Motorola Solutions's ROIC?
Motorola Solutions's return on invested capital was 26.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Motorola Solutions have?
Motorola Solutions had total debt of $9.8 billion at the end of fiscal 2025, a debt-to-equity ratio of 4.05 and $8.6 billion of net debt (2.46 times EBITDA).
What is Motorola Solutions's dividend yield?
Motorola Solutions's forward dividend yield is 1.05%. Motorola Solutions paid $728.0 million in dividends in fiscal 2025 ($4.33 per share), a payout ratio of 33.8%.
Does Motorola Solutions buy back its shares?
Yes. Motorola Solutions spent $1.2 billion on net share repurchases in fiscal 2025 Shares outstanding changed −1.6% over the year, to 168.1M..
What is Motorola Solutions's free cash flow yield?
Motorola Solutions generated $2.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 4.0% on its market value at year-end ($64.4 billion).
What is Motorola Solutions's current ratio?
Motorola Solutions's current ratio was 1.04 at the end of fiscal 2025: current assets were 1.04 times current liabilities.