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MSIMotorola Solutions

Technology · Communications Equipment · NYSE

Motorola Solutions is a global leader in mission-critical safety and security technologies for public safety, government, including defense, and enterprise customers. 10-K, Item 1

MSI quote by TradingView
Employees
23,000
Headquarters
Chicago, IL
CEO
Gregory Q. Brown
Next results
around Feb 10, 2027
Compare with peers → Embed
All key numbers (42, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)12.43Sales (ttm)12.6BNet income (ttm)2.1BSales growth+8.0%EPS growth+38.1%Sales Q/Q+12.2%
Free cash flow2.5BGross margin52.2%Oper. margin24.2%Net margin16.5%FCF margin20.1%ROE67.9%
ROA9.9%R&D / sales8.3%Dividend4.48Debt/Eq3.29Curr. ratio1.10Cash774.0M
Op. cash flow (ttm)2.8BEBITDA3.4BEBITDA margin29.2%Net debt9.3BQuick ratio0.94Interest cover8.30
ROIC17.4%Payout ratio35.1%Tax rate23.2%Stock pay / sales2.5%Shares out.165.3MShares Y/Y-1.1%
Book / share18.56Cash / share4.68Sales / share76.23Asset turnover0.60Inventory turns5.74Days sales out.69
Sales 3Y CAGR+8.6%Sales 5Y CAGR+9.5%EPS 3Y CAGR+17.1%EPS 5Y CAGR+18.5%Employees23,000Sales / employee548K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Debt rose 53%$6.0B → $9.2B · Short-term + long-term debt at year end
What management wrote about it → · Every company →

MSI against Technology peers

Ten years, side by side → · All 75 →
GrowthProfitBalanceCleanInsiders
MSIPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 75 companies, the better end on the right. Hover a dot for the company.

Sales growth
+8.0%56th of 75 · median +14.1%
Net margin
16.5%42nd of 75 · median 19.1%
Return on equity
67.9%9th of 69 · median 23.9%
Free cash flow margin
20.1%42nd of 71 · median 22.3%
Debt / equity (less is better)
3.2961st of 61 · median 0.46
MSI and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
MSI Motorola Solutions$12.6B +8.0%52.2%16.5%67.9%20.1%3.29
ADI Analog Devices$13.9B +16.9%65.8%29.8%12.3%35.6%0.27
STX Seagate Technology$13.8B +34.1%50.4%31.9%127.3%30.1%0.68
NXPI NXP Semiconductors$13.8B -2.7%56.4%23.4%26.7%25.4%1.07
ANET Arista Networks$11.9B +28.6%62.9%40.0%28.9%42.2%-
PANW Palo Alto Networks$11.5B +24.5%70.4%2.7%1.1%35.8%-

From $8.2B of sales to $1.2B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $4.0BRevenue to Cost of revenue: $4.1BGross profit to Operating profit: $1.7BGross profit to Operating expenses: $2.4BOperating profit to Net profit: $1.2BOperating profit to Tax & other: $422.0MOperating expenses to R&D: $734.0MOperating expenses to Sales, admin & other: $1.6B Revenue: $8.2B Revenue$8.2B +10% Y/Y Gross profit: $4.0B · 49% margin Gross profit$4.0B49% margin +12% Y/Y Cost of revenue: $4.1B · 51% of revenue Cost of revenue$4.1B51% of revenue Operating profit: $1.7B · 20% margin Operating profit$1.7B20% margin +21% Y/Y Operating expenses: $2.4B · 29% of revenue Operating expenses$2.4B29% of revenue Net profit: $1.2B · 15% margin Net profit$1.2B15% margin +31% Y/Y Tax & other: $422.0M · 5% of revenue Tax & other$422.0M5% of revenue R&D: $734.0M · 9% of revenue R&D$734.0M9% of revenue Sales, admin & other: $1.6B · 20% of revenue Sales, admin & other$1.6B20% of revenue

Swipe sideways for the whole flow →

From $9.1B of sales to $1.4B of profit

FY2022, from the 10-K income statement and revenue by segment
Products and Systems Integration to Revenue: $5.7BSoftware and Services to Revenue: $3.4BRevenue to Gross profit: $4.2BRevenue to Cost of revenue: $4.9BGross profit to Operating profit: $1.7BGross profit to Operating expenses: $2.6BOperating profit to Net profit: $1.4BOperating profit to Tax & other: $298.0MOperating expenses to R&D: $779.0MOperating expenses to Sales, admin & other: $1.8B Products and Systems Integration: $5.7B · 63% Products and Systems In…$5.7B63% Software and Services: $3.4B · 37% Software and Services$3.4B37% Revenue: $9.1B Revenue$9.1B +12% Y/Y Gross profit: $4.2B · 46% margin Gross profit$4.2B46% margin +5% Y/Y Cost of revenue: $4.9B · 54% of revenue Cost of revenue$4.9B54% of revenue Operating profit: $1.7B · 18% margin Operating profit$1.7B18% margin +0% Y/Y Operating expenses: $2.6B · 28% of revenue Operating expenses$2.6B28% of revenue Net profit: $1.4B · 15% margin Net profit$1.4B15% margin +9% Y/Y Tax & other: $298.0M · 3% of revenue Tax & other$298.0M3% of revenue R&D: $779.0M · 9% of revenue R&D$779.0M9% of revenue Sales, admin & other: $1.8B · 20% of revenue Sales, admin & other$1.8B20% of revenue

Swipe sideways for the whole flow →

From $10.0B of sales to $1.7B of profit

FY2023, from the 10-K income statement and revenue by segment
Products and Systems Integration to Revenue: $6.2BSoftware and Services to Revenue: $3.7BRevenue to Gross profit: $5.0BRevenue to Cost of revenue: $5.0BGross profit to Operating profit: $2.3BGross profit to Operating expenses: $2.7BOperating profit to Net profit: $1.7BOperating profit to Tax & other: $585.0MOperating expenses to R&D: $858.0MOperating expenses to Sales, admin & other: $1.8B Products and Systems Integration: $6.2B · 63% Products and Systems In…$6.2B63% Software and Services: $3.7B · 37% Software and Services$3.7B37% Revenue: $10.0B Revenue$10.0B +10% Y/Y Gross profit: $5.0B · 50% margin Gross profit$5.0B50% margin +18% Y/Y Cost of revenue: $5.0B · 50% of revenue Cost of revenue$5.0B50% of revenue Operating profit: $2.3B · 23% margin Operating profit$2.3B23% margin +38% Y/Y Operating expenses: $2.7B · 27% of revenue Operating expenses$2.7B27% of revenue Net profit: $1.7B · 17% margin Net profit$1.7B17% margin +25% Y/Y Tax & other: $585.0M · 6% of revenue Tax & other$585.0M6% of revenue R&D: $858.0M · 9% of revenue R&D$858.0M9% of revenue Sales, admin & other: $1.8B · 18% of revenue Sales, admin & other$1.8B18% of revenue

Swipe sideways for the whole flow →

From $10.8B of sales to $1.6B of profit

FY2024, from the 10-K income statement and revenue by segment
Products and Systems Integration to Revenue: $6.9BSoftware and Services to Revenue: $3.9BRevenue to Gross profit: $5.5BRevenue to Cost of revenue: $5.3BGross profit to Operating profit: $2.7BGross profit to Operating expenses: $2.8BOperating profit to Net profit: $1.6BOperating profit to Tax & other: $1.1BOperating expenses to R&D: $917.0MOperating expenses to Sales, admin & other: $1.9B Products and Systems Integration: $6.9B · 64% Products and Systems In…$6.9B64% Software and Services: $3.9B · 36% Software and Services$3.9B36% Revenue: $10.8B Revenue$10.8B +8% Y/Y Gross profit: $5.5B · 51% margin Gross profit$5.5B51% margin +11% Y/Y Cost of revenue: $5.3B · 49% of revenue Cost of revenue$5.3B49% of revenue Operating profit: $2.7B · 25% margin Operating profit$2.7B25% margin +17% Y/Y Operating expenses: $2.8B · 26% of revenue Operating expenses$2.8B26% of revenue Net profit: $1.6B · 15% margin Net profit$1.6B15% margin −8% Y/Y Tax & other: $1.1B · 10% of revenue Tax & other$1.1B10% of revenue R&D: $917.0M · 8% of revenue R&D$917.0M8% of revenue Sales, admin & other: $1.9B · 18% of revenue Sales, admin & other$1.9B18% of revenue

Swipe sideways for the whole flow →

From $11.7B of sales to $2.2B of profit

FY2025, from the 10-K income statement and revenue by segment
Products and Systems Integration to Revenue: $7.3BSoftware and Services to Revenue: $4.4BRevenue to Gross profit: $6.0BRevenue to Cost of revenue: $5.6BGross profit to Operating profit: $3.0BGross profit to Operating expenses: $3.0BOperating profit to Net profit: $2.2BOperating profit to Tax & other: $834.0MOperating expenses to R&D: $970.0MOperating expenses to Sales, admin & other: $2.1B Products and Systems Integration: $7.3B · 62% Products and Systems In…$7.3B62% Software and Services: $4.4B · 38% Software and Services$4.4B38% Revenue: $11.7B Revenue$11.7B +8% Y/Y Gross profit: $6.0B · 52% margin Gross profit$6.0B52% margin +9% Y/Y Cost of revenue: $5.6B · 48% of revenue Cost of revenue$5.6B48% of revenue Operating profit: $3.0B · 26% margin Operating profit$3.0B26% margin +11% Y/Y Operating expenses: $3.0B · 26% of revenue Operating expenses$3.0B26% of revenue Net profit: $2.2B · 18% margin Net profit$2.2B18% margin +37% Y/Y Tax & other: $834.0M · 7% of revenue Tax & other$834.0M7% of revenue R&D: $970.0M · 8% of revenue R&D$970.0M8% of revenue Sales, admin & other: $2.1B · 18% of revenue Sales, admin & other$2.1B18% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • R&D
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

2 of 4
  • !
    Net margin below the peer median16.5% vs 19.1%
  • ✓
    Gross margin up over 5 years48.7% → 51.7%
  • ✓
    Return on equity above 15%67.9%
  • !
    A profit in 9 of 10 years
Net margin, FY2016 to FY2025: 9.3% → 18.4%

Balance sheet

2 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 8.3× interest expense
  • !
    Debt larger than equityDebt / equity 3.29 on the latest balance sheet (peer median 0.46)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.10
  • !
    Net debt over 3 years of free cash flow$9.3B net debt, 3.7 years
Debt / equity at each year end, FY2016 to FY2025: 51.84 → 3.80
What the debt is made of ↓

Cash and shareholders

4 of 4
  • ✓
    Free cash flow positive in every one of 10 years$2.6B last year
  • ✓
    Share count down over 5 years−2.9%
  • ✓
    Dividend per share up over 5 years$2.63 → $4.48
  • ✓
    Cash from operations above net income$2.8B vs $2.2B
Free cash flow, FY2016 to FY2025: 894.0M → 2.6B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Oct 3, 2026 · schedule of Dec 31, 2025
Debt: $10.1B Debt$10.1B Long-term debt: $9.4B · 93% Long-term debt$9.4B · 93% Short-term borrowings: $750.0M · 7% Short-term borrowings$750.0M · 7% Next 12 months: $750.0M · 7% Next 12 months$750.0M · 7% Year 3: $1.5B · 15% Year 3$1.5B · 15% Year 4: $1.2B · 12% Year 4$1.2B · 12% Year 5: $1.5B · 15% Year 5$1.5B · 15%

The debt note's own lines, 2025-12-31

Fixed rate $0Floating $748.0M Not stated $8.4B

Line, as the company names itKindRateFixed or floatingAmount
2.3% senior notes due 2030 (Senior Notes)Notes and bonds2.30%not stated$896.0M
5.4% senior notes due 2034 (Senior Notes)Notes and bonds–not stated$894.0M
5.55% senior notes due 2035 (Senior Notes)Notes and bonds5.55%not stated$892.0M
2.75% senior notes due 2031 (Senior Notes)Notes and bonds2.75%not stated$847.0M
4.6% senior notes due 2029 (Senior Notes)Notes and bonds4.60%not stated$802.0M
6.5% debentures due 2025 (Unsecured Debt)Secured–not stated$749.0M
Term loan due 2028 (Unsecured Debt)Secured–floating$748.0M
4.6% senior notes due 2028 (Senior Notes)Notes and bonds4.60%not stated$698.0M
5.6% senior notes due 2032 (Senior Notes)Notes and bonds5.60%not stated$597.0M
4.85% senior notes due 2030 (Senior Notes)Notes and bonds4.85%not stated$595.0M
5.2% senior notes due 2032 (Senior Notes)Notes and bonds5.20%not stated$496.0M
5.0% senior notes due 2029 (Unsecured Debt)Secured–not stated$397.0M
5.5% senior notes due 2044 (Senior Notes)Notes and bonds5.50%not stated$397.0M
5.22% debentures due 2097 (Unsecured Debt)Secured–not stated$93.0M
6.625% senior notes due 2037 (Senior Notes)Notes and bonds6.62%not stated$38.0M
6.5% debentures due 2028 (Unsecured Debt)Secured–not stated$24.0M
All 16 lines

From the debt note in the 10-K's XBRL (0000068505-26-000010), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 11.7B Net income 2.2B
FY2016 revenue 6.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-19-000006 FY2016 net income 560.0M · NetIncomeLoss, 0000068505-19-000006 6.0B FY2016 FY2017 revenue 6.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-20-000006 FY2017 net income -155.0M · NetIncomeLoss, 0000068505-20-000006 6.4B FY2017 FY2018 revenue 7.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-21-000008 FY2018 net income 966.0M · NetIncomeLoss, 0000068505-21-000008 7.3B FY2018 FY2019 revenue 7.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-22-000010 FY2019 net income 868.0M · NetIncomeLoss, 0000068505-22-000010 7.9B FY2019 FY2020 revenue 7.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-23-000015 FY2020 net income 949.0M · NetIncomeLoss, 0000068505-23-000015 7.4B FY2020 FY2021 revenue 8.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-24-000008 FY2021 net income 1.2B · NetIncomeLoss, 0000068505-24-000008 8.2B FY2021 FY2022 revenue 9.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-25-000012 FY2022 net income 1.4B · NetIncomeLoss, 0000068505-25-000012 9.1B FY2022 FY2023 revenue 10.0B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-26-000010 FY2023 net income 1.7B · NetIncomeLoss, 0000068505-26-000010 10.0B FY2023 FY2024 revenue 10.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-26-000010 FY2024 net income 1.6B · NetIncomeLoss, 0000068505-26-000010 10.8B FY2024 FY2025 revenue 11.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000068505-26-000010 FY2025 net income 2.2B · NetIncomeLoss, 0000068505-26-000010 11.7B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

MSI's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue11.7B
FY2016: 6.0BFY2017: 6.4BFY2018: 7.3BFY2019: 7.9BFY2020: 7.4BFY2021: 8.2BFY2022: 9.1BFY2023: 10.0BFY2024: 10.8BFY2025: 11.7B FY2017FY2019FY2021FY2023FY2025
Net income2.2B
FY2016: 560.0MFY2017: -155.0MFY2018: 966.0MFY2019: 868.0MFY2020: 949.0MFY2021: 1.2BFY2022: 1.4BFY2023: 1.7BFY2024: 1.6BFY2025: 2.2B FY2017FY2019FY2021FY2023FY2025
Free cash flow2.6B
FY2016: 894.0MFY2017: 1.1BFY2018: 878.0MFY2019: 1.6BFY2020: 1.4BFY2021: 1.6BFY2022: 1.6BFY2023: 1.8BFY2024: 2.1BFY2025: 2.6B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)12.75
FY2016: 3.24FY2017: -0.95FY2018: 5.62FY2019: 4.95FY2020: 5.45FY2021: 7.17FY2022: 7.93FY2023: 9.93FY2024: 9.23FY2025: 12.75 FY2017FY2019FY2021FY2023FY2025
Dividend per share4.48
FY2016: 1.70FY2017: 1.93FY2018: 2.13FY2019: 2.35FY2020: 2.63FY2021: 2.92FY2022: 3.25FY2023: 3.62FY2024: 4.03FY2025: 4.48 FY2017FY2019FY2021FY2023FY2025
Diluted shares169.0M
FY2016: 173.1MFY2017: 162.9MFY2018: 172.0MFY2019: 175.6MFY2020: 174.1MFY2021: 173.6MFY2022: 171.9MFY2023: 172.1MFY2024: 170.8MFY2025: 169.0M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Products and Systems Integration 7.3B62.1% +5.4%
Software and Services 4.4B37.9% +12.6%

10-K 0000068505-26-000010, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Mission Critical Networks (MCN) 8.6B74.0% +6.8%
Video 2.1B18.1% +10.4%
Command Center 915.0M7.8% +14.8%

10-K 0000068505-26-000010, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
North America 8.4B71.6% +6.9%
United States 7.9B67.9% +6.7%
International 3.3B28.4% +10.8%
Other 2.7B23.3% +12.0%
United Kingdom 603.0M5.2% +5.4%
Canada 433.0M3.7% +11.6%

10-K 0000068505-26-000010, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue6.0B6.4B7.3B7.9B7.4B8.2B9.1B10.0B10.8B11.7B
Cost of revenue3.2B3.4B3.9B4.0B3.8B4.1B4.9B5.0B5.3B5.6B
Gross profit2.9B3.0B3.5B3.9B3.6B4.0B4.2B5.0B5.5B6.0B
R&D553.0M568.0M637.0M687.0M686.0M734.0M779.0M858.0M917.0M970.0M
SG&A1.0B1.0B1.3B1.4B1.3B1.4B1.4B1.6B1.8B1.9B
Operating income1.0B1.3B1.3B1.6B1.4B1.7B1.7B2.3B2.7B3.0B
Interest expense225.0M215.0M240.0M237.0M233.0M215.0M240.0M249.0M295.0M360.0M
Pretax income844.0M1.1B1.1B1.0B1.2B1.6B1.5B2.1B2.0B2.8B
Income tax282.0M1.2B133.0M130.0M221.0M302.0M148.0M432.0M390.0M652.0M
Net income560.0M-155.0M966.0M868.0M949.0M1.2B1.4B1.7B1.6B2.2B
EPS (diluted)3.24-0.955.624.955.457.177.939.939.2312.75
Diluted shares173.1M162.9M172.0M175.6M174.1M173.6M171.9M172.1M170.8M169.0M
Depreciation & amortization295.0M343.0M360.0M394.0M409.0M438.0M440.0M356.0M336.0M425.0M
EBITDA1.3B1.6B1.6B2.0B1.8B2.1B2.1B2.6B3.0B3.4B
Gross margin47.5%47.4%47.4%49.8%48.7%49.4%46.4%49.8%51.0%51.7%
Operating margin17.4%20.1%17.1%20.0%18.7%20.4%18.2%23.0%24.8%25.6%
Net margin9.3%-2.4%13.2%11.0%12.8%15.2%15.0%17.1%14.6%18.4%
Revenue growth-+5.7%+15.1%+7.4%-6.0%+10.2%+11.5%+9.5%+8.4%+8.0%
EPS growth--129%--11.9%+10.1%+31.6%+10.6%+25.2%-7.0%+38.1%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash967.0M1.2B1.3B1.0B1.3B1.9B1.3B1.7B2.1B1.2B
Receivables1.4B1.5B1.3B1.4B1.4B1.4B1.5B1.7B2.0B2.2B
Inventory273.0M327.0M356.0M447.0M508.0M788.0M1.1B827.0M766.0M983.0M
Current assets3.5B4.0B4.3B4.2B4.3B5.4B5.3B5.7B6.5B6.3B
Property & equipment789.0M856.0M895.0M992.0M1.0B1.0B927.0M964.0M1.0B1.2B
Goodwill728.0M938.0M1.5B2.1B2.2B2.6B3.3B3.4B3.5B6.8B
Total assets8.5B8.2B9.4B10.6B10.9B12.2B12.8B13.3B14.6B19.4B
Accounts payable553.0M593.0M592.0M618.0M612.0M851.0M1.1B881.0M1.0B1.1B
Current liabilities2.7B2.9B3.1B3.4B3.5B4.1B4.6B5.7B5.1B6.1B
Total debt4.4B4.5B5.3B5.1B5.2B5.7B6.0B6.0B6.0B9.2B
Shareholders' equity-964.0M-1.7B-1.3B-700.0M-558.0M-40.0M116.0M724.0M1.7B2.4B
Retained earnings1.1B467.0M1.1B1.2B1.1B1.4B1.3B1.6B2.3B2.5B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow1.2B1.3B1.1B1.8B1.6B1.8B1.8B2.0B2.4B2.8B
Capital spending271.0M227.0M197.0M248.0M217.0M243.0M256.0M253.0M257.0M265.0M
Free cash flow894.0M1.1B878.0M1.6B1.4B1.6B1.6B1.8B2.1B2.6B
Stock-based pay (added back)68.0M66.0M73.0M118.0M129.0M129.0M172.0M212.0M243.0M293.0M
Dividends paid280.0M307.0M337.0M379.0M436.0M482.0M530.0M589.0M654.0M728.0M
Buybacks842.0M483.0M132.0M315.0M612.0M528.0M836.0M804.0M244.0M1.2B
Debt raised673.0M10.0M1.1B1.8B892.0M844.0M595.0M01.3B2.7B
Debt repaid686.0M21.0M323.0M2.0B914.0M353.0M285.0M1.0M1.9B322.0M
Investing cash flow-1.0B-448.0M-1.3B-934.0M-437.0M-742.0M-1.4B-414.0M-507.0M-5.2B
Financing cash flow-1.0B-722.0M220.0M-1.1B-966.0M-429.0M-906.0M-1.3B-1.4B1.3B
Dividend per share1.701.932.132.352.632.923.253.624.034.48

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)68.0M66.0M73.0M118.0M129.0M129.0M172.0M212.0M243.0M293.0M
Stock-based pay / revenue1.1%1.0%1.0%1.5%1.7%1.6%1.9%2.1%2.2%2.5%
Operating lease cost---133.0M130.0M133.0M130.0M140.0M140.0M146.0M
Operating lease cash paid---140.0M144.0M145.0M145.0M147.0M152.0M156.0M
Finance lease principal paid---14.0M12.0M11.0M4.0M---
Right-of-use assets---554.0M468.0M382.0M485.0M495.0M529.0M581.0M
Operating lease liabilities---619.0M528.0M437.0M537.0M532.0M554.0M604.0M
Finance lease liabilities---29.0M16.0M4.0M1.0M---

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on MSI in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/MSI/export.csv") into a cell.