Financials Motorola Solutions, Inc.

Equities

MSI

US6200763075

Communications & Networking

Market Closed - Nyse 04:00:02 2024-05-31 pm EDT 5-day change 1st Jan Change
364.9 USD +1.45% Intraday chart for Motorola Solutions, Inc. +0.43% +16.55%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 27,609 28,829 45,889 43,090 51,963 60,862 - -
Enterprise Value (EV) 1 31,737 32,750 49,708 47,779 56,276 65,297 64,587 63,827
P/E ratio 32.6 x 31.2 x 37.9 x 32.5 x 31.5 x 42.5 x 29.6 x 25.4 x
Yield 1.46% 1.55% 1.07% 1.26% - 1.08% 1.16% 1.3%
Capitalization / Revenue 3.5 x 3.89 x 5.62 x 4.73 x 5.21 x 5.69 x 5.38 x 5.09 x
EV / Revenue 4.02 x 4.42 x 6.08 x 5.24 x 5.64 x 6.11 x 5.71 x 5.34 x
EV / EBITDA 14.7 x 16.1 x 21.4 x 18.7 x 19 x 19.7 x 18.1 x 16.5 x
EV / FCF 20.2 x 23.5 x 31.2 x 30.5 x 31.4 x 37.8 x 29.1 x 24.3 x
FCF Yield 4.96% 4.26% 3.21% 3.28% 3.18% 2.64% 3.43% 4.12%
Price to Book -40.5 x -51.8 x -1,179 x 382 x 74.4 x 58.1 x 34.4 x 23.5 x
Nbr of stocks (in thousands) 171,336 169,523 168,897 167,203 165,968 166,787 - -
Reference price 2 161.1 170.1 271.7 257.7 313.1 364.9 364.9 364.9
Announcement Date 2/6/20 2/4/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 7,887 7,414 8,171 9,112 9,978 10,687 11,318 11,956
EBITDA 1 2,161 2,029 2,319 2,551 2,963 3,319 3,569 3,861
EBIT 1 1,975 1,835 2,117 2,368 2,784 3,054 3,301 3,499
Operating Margin 25.04% 24.75% 25.91% 25.99% 27.9% 28.58% 29.17% 29.26%
Earnings before Tax (EBT) 1 1,001 1,174 1,552 1,515 2,146 1,887 2,758 3,113
Net income 1 868 949 1,245 1,363 1,709 1,460 2,097 2,415
Net margin 11.01% 12.8% 15.24% 14.96% 17.13% 13.67% 18.52% 20.2%
EPS 2 4.950 5.450 7.170 7.930 9.930 8.580 12.31 14.36
Free Cash Flow 1 1,575 1,396 1,594 1,567 1,791 1,726 2,216 2,629
FCF margin 19.97% 18.83% 19.51% 17.2% 17.95% 16.15% 19.58% 21.99%
FCF Conversion (EBITDA) 72.88% 68.8% 68.74% 61.43% 60.45% 52.01% 62.08% 68.09%
FCF Conversion (Net income) 181.45% 147.1% 128.03% 114.97% 104.8% 118.2% 105.69% 108.87%
Dividend per Share 2 2.350 2.630 2.920 3.250 - 3.943 4.245 4.731
Announcement Date 2/6/20 2/4/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 2,320 1,892 2,140 2,373 2,706 2,171 2,403 2,556 2,848 2,389 2,586 2,715 2,999 2,517 2,739
EBITDA 1 719 419 544 721 868 575 685 788 915 682 777.8 866 998.2 724.1 821
EBIT 1 670 374 497 676 822 532 641 741 870 638 712.7 792.5 924.8 673.8 785.1
Operating Margin 28.88% 19.77% 23.22% 28.49% 30.38% 24.5% 26.67% 28.99% 30.55% 26.71% 27.56% 29.19% 30.84% 26.77% 28.67%
Earnings before Tax (EBT) 1 518 219 300 333 663 358 487 592 707 -90 563.8 637 776.8 530.3 638.3
Net income 1 401 267 228 279 589 278 371 464 595 -39 428.2 479.9 588.8 407 488.7
Net margin 17.28% 14.11% 10.65% 11.76% 21.77% 12.81% 15.44% 18.15% 20.89% -1.63% 16.56% 17.67% 19.64% 16.17% 17.84%
EPS 2 2.300 1.540 1.330 1.630 3.430 1.610 2.150 2.700 3.470 -0.2300 2.519 2.821 3.447 2.365 2.795
Dividend per Share 2 0.7900 0.7900 0.7900 0.7900 0.8800 0.8800 0.8800 - - - 0.9801 0.9801 1.043 1.070 1.070
Announcement Date 2/9/22 5/12/22 8/4/22 11/3/22 2/9/23 5/4/23 8/3/23 11/2/23 2/8/24 5/2/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 4,128 3,921 3,819 4,689 4,313 4,435 3,724 2,964
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.91 x 1.932 x 1.647 x 1.838 x 1.456 x 1.336 x 1.043 x 0.7678 x
Free Cash Flow 1 1,575 1,396 1,594 1,567 1,791 1,726 2,216 2,629
ROE (net income / shareholders' equity) - - - - 407% 230% 125% 107%
ROA (Net income/ Total Assets) 13.9% 12.5% 10.8% 14.2% 13.1% 12.5% 15.5% 15.6%
Assets 1 6,225 7,620 11,532 9,573 13,075 11,642 13,516 15,444
Book Value Per Share 2 -3.980 -3.280 -0.2300 0.6700 4.210 6.280 10.60 15.50
Cash Flow per Share 2 10.40 9.260 10.60 10.60 11.90 13.40 15.30 17.30
Capex 1 248 217 243 256 253 285 306 299
Capex / Sales 3.14% 2.93% 2.97% 2.81% 2.54% 2.67% 2.7% 2.5%
Announcement Date 2/6/20 2/4/21 2/9/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
14
Last Close Price
364.9 USD
Average target price
375 USD
Spread / Average Target
+2.76%
Consensus
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