NYSE: MSI
Motorola Solutions, Inc.CIK 0000068505 · SIC 3663 · Radio & TV Broadcasting & Communications Equipment
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Motorola Solutions offers senior notes to fund $1.5B D-Fend counter-drone acquisition
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Motorola Solutions Q2 revenue +13.3% to $3.13B; net income +8.6% to $557.0M
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Latest financial statements
From 10-Q filed Nov 4, 2026 (period ending Oct 3, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(In millions, except per share amounts)
| Description | Three months ended October 3, 2026 | Three months ended September 27, 2025 | Nine months ended October 3, 2026 | Nine months ended September 27, 2025 |
|---|---|---|---|---|
| Net sales from products | 1,999 | 1,751 | 5,298 | 4,731 |
| Net sales from services | 1,377 | 1,258 | 3,925 | 3,571 |
| Net sales | 3,376 | 3,009 | 9,223 | 8,302 |
| Costs of products sales | 800 | 728 | 2,130 | 1,948 |
| Costs of services sales | 808 | 727 | 2,285 | 2,087 |
| Costs of sales | 1,608 | 1,455 | 4,415 | 4,035 |
| Gross margin | 1,768 | 1,554 | 4,808 | 4,267 |
| Selling, general and administrative expenses | 504 | 485 | 1,439 | 1,371 |
| Research and development expenditures | 276 | 237 | 788 | 700 |
| Other charges | 211 | 62 | 470 | 152 |
| Operating earnings | 777 | 770 | 2,111 | 2,044 |
| Other income (expense): | ||||
| Interest expense, net | (107) | (86) | (315) | (192) |
| Other, net | 8 | 41 | 64 | 100 |
| Total other expense | (99) | (45) | (251) | (92) |
| Net earnings before income taxes | 678 | 725 | 1,860 | 1,952 |
| Income tax expense | 164 | 161 | 420 | 442 |
| Net earnings | 514 | 564 | 1,440 | 1,510 |
| Less: Earnings attributable to non-controlling interests | 2 | 2 | 5 | 5 |
| Net earnings attributable to Motorola Solutions, Inc. | 512 | 562 | 1,435 | 1,505 |
| Earnings per common share: | ||||
| Basic | 3.09 | 3.37 | 8.66 | 9.02 |
| Diluted | 3.06 | 3.33 | 8.57 | 8.89 |
| Weighted average common shares outstanding: | ||||
| Basic | 165.5 | 166.6 | 165.7 | 166.8 |
| Diluted | 167.4 | 169.0 | 167.5 | 169.2 |
Condensed Consolidated Balance Sheets (Unaudited)
(In millions, except par value)
| Description | October 3, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | 774 | 1,165 |
| Accounts receivable, net | 2,441 | 2,200 |
| Contract assets | 1,535 | 1,574 |
| Inventories, net | 1,511 | 983 |
| Other current assets | 452 | 378 |
| Total current assets | 6,713 | 6,300 |
| Property, plant and equipment, net | 1,203 | 1,165 |
| Operating lease assets | 534 | 581 |
| Investments | 292 | 187 |
| Deferred income taxes | 697 | 761 |
| Goodwill | 7,666 | 6,800 |
| Intangible assets, net | 3,502 | 3,104 |
| Other assets | 534 | 491 |
| Total assets | 21,141 | 19,389 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Short-term borrowings | 750 | 749 |
| Accounts payable | 1,049 | 1,134 |
| Contract liabilities | 2,481 | 2,265 |
| Accrued liabilities | 1,839 | 1,930 |
| Total current liabilities | 6,119 | 6,078 |
| Long-term debt | 9,361 | 8,413 |
| Operating lease liabilities | 409 | 471 |
| Other liabilities | 2,166 | 2,000 |
| Stockholders’ Equity | ||
| Preferred stock, $100 par value: 0.5 shares authorized; none issued and outstanding | — | — |
| Common stock, $0.01 par value: | 2 | 2 |
| Authorized shares: 600.0 | ||
| Issued shares: 10/3/26—167.4; 12/31/25—167.4 | ||
| Outstanding shares: 10/3/26—165.5; 12/31/25—165.7 | ||
| Additional paid-in capital | 2,630 | 2,279 |
| Retained earnings | 2,844 | 2,549 |
| Accumulated other comprehensive loss | (2,407) | (2,420) |
| Total Motorola Solutions, Inc. stockholders’ equity | 3,069 | 2,410 |
| Non-controlling interests | 17 | 17 |
| Total stockholders’ equity | 3,086 | 2,427 |
| Total liabilities and stockholders’ equity | 21,141 | 19,389 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions)
| Description | Nine months ended October 3, 2026 | Nine months ended September 27, 2025 |
|---|---|---|
| Operating | ||
| Net earnings | 1,440 | 1,510 |
| Adjustments to reconcile Net earnings to Net cash provided by operating activities: | ||
| Depreciation and amortization | 441 | 282 |
| Contingent earnout adjustment | 178 | — |
| Non-cash other charges (income) | 10 | (4) |
| Share-based compensation expenses | 307 | 213 |
| Changes in assets and liabilities, net of effects of acquisitions, dispositions, and foreign currency translation adjustments: | ||
| Accounts receivable | (227) | 1 |
| Inventories | (503) | (107) |
| Other current assets and contract assets | (24) | (230) |
| Accounts payable, accrued liabilities and contract liabilities | (161) | (280) |
| Other assets and liabilities | 73 | 101 |
| Deferred income taxes | 48 | 95 |
| Net cash provided by operating activities | 1,582 | 1,581 |
| Investing | ||
| Acquisitions and investments, net | (1,587) | (4,835) |
| Proceeds from sales of investments and businesses, net | 8 | 14 |
| Capital expenditures | (190) | (151) |
| Proceeds from sales of property, plant and equipment | 1 | — |
| Net cash used for investing activities | (1,768) | (4,972) |
| Financing | ||
| Net proceeds from issuance of debt | 942 | 2,733 |
| Net proceeds from short-term borrowings | 500 | 923 |
| Repayments of short-term debt | (500) | (322) |
| Revolving credit facility renewal fees | — | (5) |
| Issuances of common stock, net of tax | 45 | (3) |
| Purchases of common stock | (543) | (664) |
| Payments of dividends | (602) | (546) |
| Payments of dividends to non-controlling interests | (5) | (5) |
| Net cash provided by (used for) financing activities | (163) | 2,111 |
| Effect of exchange rate changes on total cash and cash equivalents | (42) | 72 |
| Net decrease in total cash and cash equivalents | (391) | (1,208) |
| Cash and cash equivalents, beginning of period | 1,165 | 2,102 |
| Cash and cash equivalents, end of period | 774 | 894 |
| Supplemental Cash Flow Information | ||
| Cash paid during the period for: | ||
| Interest paid | 330 | 166 |
| Income and withholding taxes, net of refunds | 474 | 413 |
Amounts as printed on the EDGAR/iXBRL face — (In millions, except per share amounts); (In millions, except par value); (In millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗