# Motorola Solutions, Inc. (MSI)

Informational only - not investment advice.

CIK: 0000068505
SIC: 3663 Radio & Tv Broadcasting & Communications Equipment
SIC breadcrumb: [Manufacturing](/division/D/) > [Electronic And Other Electrical Equipment And Components, Except Computer Equipment](/major-group/36/) > [SIC 3663 Radio & Tv Broadcasting & Communications Equipment](/industry/3663/)
Latest 10-K filed: 2026-02-12
SEC page: https://www.sec.gov/edgar/browse/?CIK=68505
Filing source: https://www.sec.gov/Archives/edgar/data/68505/000006850526000010/msi-20251231.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-02-12 · accession 0000068505-26-000010 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000068505.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 11,682,000,000 USD | 2025 | verified |
| Net income | 2,154,000,000 USD | 2025 | verified |
| Assets | 19,389,000,000 USD | 2025 | verified |
| Free cash flow | 2,572,000,000 USD | 2025 | computed |
| Net margin | 18.44% | 2025 | computed |
| Operating margin | 25.58% | 2025 | computed |
| Revenue YoY | +8.00% | 2025 | computed |
| ROE | 89.38% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | MSI | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 18.4% | 6.4% | 78 | 10 |
| Operating margin | 25.6% | 3.9% | 75 | 9 |
| Revenue growth | 8.0% | 12.5% | 30 | 11 |
| FCF margin | 22.0% | 20.0% | 67 | 10 |
| ROE | 89.4% | -3.7% | 89 | 10 |
| ROA | 11.1% | 0.2% | 70 | 11 |
| Liabilities / equity | 7.05 | 1.39 | 100 | 10 |
| Current ratio | 1.04 | 2.82 | 0 | 11 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 3663 Radio & Tv Broadcasting & Communications Equipment, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 11682000000 | USD | 2025 | 2026-02-12 |
| Net income | 2154000000 | USD | 2025 | 2026-02-12 |
| Assets | 19389000000 | USD | 2025 | 2026-02-12 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-12. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000068505.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 6,038,000,000 | 6,380,000,000 | 7,343,000,000 | 7,887,000,000 | 7,414,000,000 | 8,171,000,000 | 9,112,000,000 | 9,978,000,000 | 10,817,000,000 | 11,682,000,000 |
| Net income | 560,000,000 | -155,000,000 | 966,000,000 | 868,000,000 | 949,000,000 | 1,245,000,000 | 1,363,000,000 | 1,709,000,000 | 1,577,000,000 | 2,154,000,000 |
| Operating income | 1,048,000,000 | 1,284,000,000 | 1,255,000,000 | 1,581,000,000 | 1,383,000,000 | 1,667,000,000 | 1,661,000,000 | 2,294,000,000 | 2,688,000,000 | 2,988,000,000 |
| Gross profit | 2,869,000,000 | 3,024,000,000 | 3,480,000,000 | 3,931,000,000 | 3,608,000,000 | 4,040,000,000 | 4,229,000,000 | 4,970,000,000 | 5,512,000,000 | 6,035,000,000 |
| Diluted EPS | 3.24 | -0.95 | 5.62 | 4.95 | 5.45 | 7.17 | 7.93 | 9.93 | 9.23 | 12.75 |
| Operating cash flow | 1,165,000,000 | 1,346,000,000 | 1,075,000,000 | 1,823,000,000 | 1,613,000,000 | 1,837,000,000 | 1,823,000,000 | 2,044,000,000 | 2,391,000,000 | 2,837,000,000 |
| Capital expenditures | 271,000,000 | 227,000,000 | 197,000,000 | 248,000,000 | 217,000,000 | 243,000,000 | 256,000,000 | 253,000,000 | 257,000,000 | 265,000,000 |
| Dividends paid | 280,000,000 | 307,000,000 | 337,000,000 | 379,000,000 | 436,000,000 | 482,000,000 | 530,000,000 | 589,000,000 | 654,000,000 | 728,000,000 |
| Share buybacks | 842,000,000 | 483,000,000 | 132,000,000 | 315,000,000 | 612,000,000 | 528,000,000 | 836,000,000 | 804,000,000 | 244,000,000 | 1,154,000,000 |
| Assets | 8,463,000,000 | 8,208,000,000 | 9,409,000,000 | 10,642,000,000 | 10,876,000,000 | 12,189,000,000 | 12,814,000,000 | 13,336,000,000 | 14,595,000,000 | 19,389,000,000 |
| Stockholders' equity | -964,000,000 | -1,742,000,000 | -1,293,000,000 | -700,000,000 | -558,000,000 | -40,000,000 | 116,000,000 | 724,000,000 | 1,703,000,000 | 2,410,000,000 |
| Cash and cash equivalents | 967,000,000 | 1,205,000,000 | 1,257,000,000 | 1,001,000,000 | 1,254,000,000 | 1,874,000,000 | 1,325,000,000 | 1,705,000,000 | 2,102,000,000 | 1,165,000,000 |
| Free cash flow | 894,000,000 | 1,119,000,000 | 878,000,000 | 1,575,000,000 | 1,396,000,000 | 1,594,000,000 | 1,567,000,000 | 1,791,000,000 | 2,134,000,000 | 2,572,000,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | 9.27% | -2.43% | 13.16% | 11.01% | 12.80% | 15.24% | 14.96% | 17.13% | 14.58% | 18.44% |
| Operating margin | 17.36% | 20.13% | 17.09% | 20.05% | 18.65% | 20.40% | 18.23% | 22.99% | 24.85% | 25.58% |
| Return on equity |  |  |  |  |  |  |  | 236.05% | 92.60% | 89.38% |
| Return on assets | 6.62% | -1.89% | 10.27% | 8.16% | 8.73% | 10.21% | 10.64% | 12.81% | 10.81% | 11.11% |
| Liabilities / equity |  |  |  |  |  |  |  | 17.42 | 7.57 | 7.05 |
| Current ratio | 1.30 | 1.35 | 1.38 | 1.21 | 1.24 | 1.33 | 1.15 | 1.00 | 1.28 | 1.04 |

## As-reported value updates

2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/MSI/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-05. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0000068505.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-10-01 |  |  | 1.63 | reported discrete quarter |
| 2023-Q1 | 2023-04-01 |  |  | 1.61 | reported discrete quarter |
| 2023-Q2 | 2023-07-01 |  |  | 2.15 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 2,556,000,000 | 464,000,000 | 2.70 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 2,849,000,000 | 596,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-30 | 2,389,000,000 | -39,000,000 | -0.23 | reported discrete quarter |
| 2024-Q2 | 2024-06-29 | 2,628,000,000 | 443,000,000 | 2.60 | reported discrete quarter |
| 2024-Q3 | 2024-09-28 | 2,790,000,000 | 562,000,000 | 3.29 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 3,011,000,000 | 611,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-29 | 2,528,000,000 | 430,000,000 | 2.53 | reported discrete quarter |
| 2025-Q2 | 2025-06-28 | 2,765,000,000 | 513,000,000 | 3.04 | reported discrete quarter |
| 2025-Q3 | 2025-09-27 | 3,009,000,000 | 562,000,000 | 3.33 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 3,380,000,000 | 649,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-04-04 | 2,714,000,000 | 366,000,000 | 2.18 | reported discrete quarter |
| 2026-Q2 | 2026-07-04 | 3,133,000,000 | 557,000,000 | 3.33 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from MSI's latest 10-K: [/company/MSI/business/](/company/MSI/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from MSI's latest 10-K: [/company/MSI/risk-factors/](/company/MSI/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/68505/000006850526000028/msi-20260704.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-05
Report date: 2026-07-04

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This commentary should be read in conjunction with the condensed consolidated financial statements and related notes thereto of Motorola Solutions, Inc. (“Motorola Solutions,” the “Company,” “we,” “our,” or “us”) for the three and six months ended July 4, 2026 and June 28, 2025, as well as our consolidated financial statements and related notes thereto and management’s discussion and analysis of financial condition and results of operations in our Annual Report on Form 10-K for the year ended December 31, 2025 (the "Form 10-K").

Forward-Looking Statements

Statements in this Quarterly Report on Form 10-Q for the quarter ended July 4, 2026 (this “Form 10-Q”) which are not historical in nature are forward-looking statements within the meaning of applicable federal securities law. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as “believes,” “expects,” “intends,” “aims,” “estimates” and similar expressions. We can give no assurance that any future results or events discussed in these statements will be achieved. Any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. Readers are cautioned that such forward-looking statements are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from the statements contained in this Form 10-Q. Some of these risks and uncertainties include, but are not limited to, those discussed in Part I, Item 1A “Risk Factors” of the Form 10-K, and those described elsewhere in our other SEC filings. Forward-looking statements include, but are not limited to, statements under the following headings: (1) “Management's Discussion and Analysis of Financial Condition and Results of Operations,” about: (a) the impact of changes in the global trade environment, the dynamic supply chain environment and the memory market on our business, and our actions in response thereto (including with respect to inventory levels); (b) the impact of acquisitions on our business; (c) our plans to assess the impact of changes to tax law on our business; (d) the return of capital to shareholders through dividends and/or repurchasing shares; (e) future payments, charges, and use of accruals associated with our reorganization of business programs and employee separation costs; (f) our ability to repatriate funds; (g) the liquidity of our investments; (h) our ability to access the capital markets; (i) our use of proceeds from the issuance of notes under our unsecured commercial paper program; (j) adequacy of internal resources to generate adequate amounts of cash to meet expected working capital, capital expenditure and cash requirements; and (k) future cash flows generated from operations, and future uses of cash, investments and debt facilities; and (2) “Quantitative and Qualitative Disclosures about Market Risk,” about: (a) the impact of foreign currency risk; and (b) future hedging activity and expectations of the Company.

Executive Overview

Business Overview

The Company manages the business through two segments: “Products and Systems Integration” and “Software and Services.” Within these segments, the Company reports net sales across three principal product lines:

•MCN: Infrastructure, mobile ad-hoc network ("MANET") technology, devices (two-way radio and broadband, including both for public safety and professional and commercial radio ("PCR")), software and artificial intelligence ("AI")-powered capabilities. MCN includes installation and integration, backed by managed and support services, to help assure mission-critical communications availability, security and resiliency;

•Video: Cameras (fixed, body-worn, in-vehicle), access control, sensors, infrastructure, video management, video monitoring, software and AI-powered analytics that enable visibility of events and focus attention on what's important, to inform faster and more accurate decisions and actions; and

•Command Center: Command center solutions, software applications and AI-powered capabilities, that unify voice and data from public safety agencies, enterprises and the community, enabling a broad informational view of operations and incidents while helping to accelerate workflows and improve the accuracy, speed and trust of decisions.

We have invested across these three technologies organically and through acquisitions to evolve our land mobile radio ("LMR") focus and expand our ecosystem of safety and security products and services. Across all three technologies, we offer AI-powered capabilities and software solutions, services such as cybersecurity subscription services and managed and support services.

28

Second Quarter Financial Results

•Net sales were $3.1 billion in the second quarter of 2026 compared to $2.8 billion in the second quarter of 2025.

•Operating earnings were $809 million in the second quarter of 2026 compared to $692 million in the second quarter of 2025.

•Net earnings attributable to Motorola Solutions, Inc. was $557 million, or $3.33 per diluted common share, in the second quarter of 2026, compared to $513 million, or $3.04 per diluted common share, in the second quarter of 2025.

•Operating cash flow increased $137 million to $920 million in the first half of 2026 compared to $783 million in the first half of 2025.

•We repurchased $444 million of common stock and paid $402 million in dividends in the first half of 2026.

Recent Events

Macroeconomic Environment Update

The global trade landscape continues to shift rapidly, including evolving tariffs and import/export regulations, such as restrictions around rare earth minerals, trade barriers and trade disputes.

On February 20, 2026, a U.S. Supreme Court ruling invalidated tariffs imposed under the International Emergency Economic Powers Act ("IEEPA"). On April 20, 2026, the U.S. Customs and Border Protection launched a system to process IEEPA tariff refund claims. Following the implementation of this system, we have determined that the recovery of a portion of these refunds is now probable. Accordingly, during the quarter ended July 4, 2026, we recognized a favorable adjustment of $60 million recorded within Cost of sales in our Condensed Consolidated Statements of Operations.

In addition, we are experiencing higher costs for memory in our products which is a result of substantial demand in the market driven by AI. As a result, we continue to observe elevated volatility and uncertainty around the global supply chain. We engage with global suppliers across a diverse network of locations around the world. We are actively managing our inventory and continue to work with our global supply base to mitigate our exposure to elevated volatility and uncertainty from these rising memory costs, as well as global tariffs and import/export regulations that have developed, and which may continue to develop, to ensure supply continues at levels necessary to meet our current customer demand. We expect inventory levels to remain elevated as we mitigate this dynamic supply chain environment. The current environment has led to increased costs on materials and components, for which we continue to develop mitigation actions going forward.

Recent Acquisitions

[[GREPCENT_TABLE]]
[["Segment(s)","Technology","Acquisition","Description","Purchase Price","Date of Acquisition"],["Software and Services","Command Center","Hyper","Provider of conversational, agentic AI designed to reduce the burden on understaffed public safety answering points (PSAPs) by handling non-emergency calls.","$23 million and share-based compensation of $2 million","March 24, 2026"],["Software and Services","Command Center","Exacom","Provider of cloud-native voice and multimedia recording and logging solutions for mission-critical communications.","$67 million and share-based compensation of $1 million","March 11, 2026"],["Software and Services","Video Security and Access Control","Blue Eye","Provider of AI-powered enterprise remote video monitoring (\"RVM\") services.","$79 million and share-based compensation of $1 million","November 18, 2025"],["Products and Systems Integration & Software and Services","Mission Critical Networks","Silvus Technologies","Designer and developer of software-defined high-speed MANET technology.","$4.4 billion and share-based compensation of $20 million","August 6, 2025"],["Software and Services","Command Center","Theatro","Creator of AI and voice-powered communication and digital workflow software for frontline workers.","$174 million and share-based compensation of $5 million","March 6, 2025"],["Software and Services","Command Center","RapidDeploy","Provider of cloud-native 911 solutions.","$240 million and share-based compensation of $6 million","February 21, 2025"]]
[[/GREPCENT_TABLE]]

29

Results of Operations

[[GREPCENT_TABLE]]
[["","Three Months Ended","","Six Months Ended"],["(Dollars in millions, except per share amounts)","July 4, 2026","","% of Sales*","","June 28, 2025","","% of Sales*","","July 4, 2026","","% of Sales*","","June 28, 2025","","% of Sales*"],["Net sales from products","$","1,818","","","","","$","1,533","","","","","$","3,300","","","","","$","2,980"],["Net sales from services","1,315","","","","","1,232","","","","","2,548","","","","","2,313"],["Net sales","3,133","","","","","2,765","","","","","5,848","","","","","5,293"],["Costs of products sales","702","","","38.6","%","","646","","","42.1","%","","1,332","","","40.4","%","","1,220","","","40.9","%"],["Costs of services sales","753","","","57.3","%","","706","","","57.3","%","","1,476","","","57.9","%","","1,360","","","58.8","%"],["Costs of sales","1,455","","","","","1,352","","","","","2,808","","","","","2,580"],["Gross margin","1,678","","","53.6","%","","1,413","","","51.1","%","","3,040","","","52.0","%","","2,713","","","51.3","%"],["Selling, general and administrative expenses","496","","","15.8","%","","450","","","16.3","%","","935","","","16.0","%","","886","","","16.7","%"],["Research and development expenditures","260","","","8.3","%","","231","","","8.4","%","","512","","","8.8","%","","464","","","8.8","%"],["Other charges","113","","","3.6","%","","40","","","1.4","%","","259","","","4.4","%","","89","","","1.7","%"],["Operating earnings","809","","","25.8","%","","692","","","25.0","%","","1,334","","","22.8","%","","1,274","","","24.1","%"],["Other income (expense):"],["Interest expense, net","(103)","","","(3.3)","%","","(55)","","","(2.0)","%","","(208)","","","(3.6)","%","","(106)","","","(2.0)","%"],["Other, net","36","","","1.1","%","","43","","","1.6","%","","56","","","1.0","%","","59","","","1.1","%"],["Total other expense","(67)","","","(2.1)","%","","(12)","","","(0.4)","%","","(152)","","","(2.6)","%","","(47)","","","(0.9)","%"],["Net earnings before income taxes","742","","","23.7","%","","680","","","24.6","%","","1,182","","","20.2","%","","1,227","","","23.2","%"],["Income tax expense","184","","","5.9","%","","165","","","6.0","%","","256","","","4.4","%","","280","","","5.3","%"],["Net earnings","558","","","17.8","%","","515","","","18.6","%","","926","","","15.8","%","","947","","","17.9","%"],["Less: Earnings attributable to non-controlling interests","1","","","\u2014","%","","2","","","0.1","%","","3","","","0.1","%","","4","","","0.1","%"],["Net earnings attributable to Motorola Solutions, Inc.","$","557","","","17.8","%","","$","513","","","18.6","%","","$","923","","","15.8","%","","$","943","","","17.8","%"],["Earnings per diluted common share","$","3.33","","","","","$","3.04","","","","","$","5.51","","","","","$","5.57"]]
[[/GREPCENT_TABLE]]

* Percentages may not add due to rounding

30

Results of Operations—Three months ended July 4, 2026 compared to three months ende

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/68505/000006850526000010/msi-20251231.htm
Complete FY 2025 MD&A: /company/MSI/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-02-12
Report date: 2025-12-31

Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following is a discussion and analysis of our financial position as of December 31, 2025 and 2024 and results of operations and cash flows for each of the three years in the period ended December 31, 2025. This commentary should be read in conjunction with our consolidated financial statements and the notes thereto appearing under “Item 8: Financial Statements and Supplementary Data.”

Executive Overview

Our Business

Motorola Solutions is a global leader in mission-critical safety and security technologies for public safety, government, including defense, and enterprise customers. Our business is focused on safety and security driven by our commitment to help create safer communities, safer schools, safer hospitals, safer businesses, and ultimately, safer nations. Grounded in nearly 100 years of close customer and community collaboration, we design and advance technology for more than 100,000 customers in over 100 countries, with the goal of making everywhere safer for all.

Our ecosystem of safety and security technologies is managed through two segments: "Products and Systems Integration" and Software and Services". Within these segments, we have three principal product lines in which we report net sales: Mission Critical Networks ("MCN"), Video Security and Access Control ("Video") and Command Center. Our strategy is to generate value through our technologies that help meet the changing needs of our customers around the world in protecting people, property and places. While each technology individually strives to make users safer and more productive, we believe we can enable better outcomes for our customers by uniting these technologies as a comprehensive integrated safety and security system. Our goal is to help dismantle silos and barriers between people and systems, so that data unifies, information flows, operations run and collaboration improves to help strengthen safety and security everywhere.

We have invested across these three technologies organically and through acquisitions to evolve our land mobile radio ("LMR") focus and expand our ecosystem of safety and security products and services. Across all three technologies, we offer artificial intelligence ("AI")-powered capabilities and software solutions, services such as cybersecurity subscription services and managed and support services.

We support public safety and defense agencies in their mission to help protect communities and countries. We additionally serve our growing base of enterprise customers, including schools, hospitals, businesses and stadiums, as the criticality of safety and security becomes increasingly important. Across these diverse sectors, our technologies facilitate the connection between those in need and those who can help, enabling the collaboration that is critical for a more proactive approach to safety and security.

This collaboration is clearly illustrated in a school setting: When a teacher presses a panic button, our technologies can automatically notify local law enforcement, trigger a lockdown to secure all entries, share live video feeds with first responders and send mass notifications to key stakeholders. This integrated workflow helps schools to detect, respond to and resolve safety and security threats faster and more effectively.

The principal products within each segment, by technology, are described below:

Products and Systems Integration Segment

In 2025, the segment’s net sales were $7.3 billion, representing 62% of our consolidated net sales.

MCN

Our MCN technology includes infrastructure and devices for LMR, mobile ad-hoc network ("MANET") technology, as well as devices for public safety Long Term Evolution (“LTE”) and public carrier LTE. Our technology enables voice and multimedia collaborations across two-way radio, Wi-Fi and public and private broadband networks. We are a global leader in the two-way radio category, including Project 25 (P25), Terrestrial Trunked Radio (TETRA) and Digital Mobile Radio (DMR), as well as other professional and commercial radio ("PCR") solutions. We also deliver LTE solutions for public safety, government, including defense, and enterprise users, with our portfolio of devices operating in both low-band and mid-band frequencies. Additionally, through our MANET and High Frequency (HF) and Very High Frequency (VHF) communications technologies, we support defense, government and disaster relief agency customers that require dynamic, mobile and tactical point-to-point voice and data communications in remote or contested environments without the need for fixed infrastructure.

We believe that public safety, government agencies, including defense, and enterprises continue to trust mission-critical communications systems and devices because they are purpose-built and designed for reliability, availability, security and resiliency to help keep people connected even during the most challenging conditions.

By extending our two-way radios with broadband data capabilities, we strive to provide our customers with greater functionality and multimedia access to the information and data they need in their workflows. Examples include application services such as GPS location to better protect lone workers, job dispatch to assign work orders and over-the-air programming to optimize device uptime. Our view is that complementary data applications such as these enable our customers to work more efficiently and safely, while maintaining their mission-critical voice communications to remain connected and working in collaboration with others.

33

Primary sources of revenue for this technology come from selling devices and building communications systems, including the installation and integration of our infrastructure equipment within our customers’ operations. The MCN technology within the Products and Systems Integration segment represented 84% of the net sales of the total segment in 2025.

Video

Our Video technology includes video management infrastructure, AI-powered security cameras including fixed and certain mobile video equipment, as well as on-premises and cloud-based access control solutions. We deploy video security and access control solutions to thousands of government, public safety and enterprise customers around the world, including schools, transportation systems, healthcare centers, public venues, commercial real estate, utilities, prisons, factories, casinos, airports, financial institutions, government facilities, state and local law enforcement agencies and retailers.

Organizations utilize video security and access control to verify critical events or incidents in real-time and to provide evidentiary data to investigate an event after it occurs. Our view is that government and public safety customers are increasingly turning to video security technologies to increase visibility, accountability and safety for communities and first responders alike.

The Video technology within the Products and Systems Integration segment represented 16% of the net sales of the total segment in 2025.

Software and Services Segment

In 2025, the segment’s net sales were $4.4 billion, representing 38% of our consolidated net sales.

MCN

MCN services include support and managed services, which offer a broad continuum of support for our customers. Support services include repair and replacement, technical support and preventative maintenance, and more advanced offerings such as system monitoring, software updates and cybersecurity services. Managed services range from partial to full operational support of customer-owned or Motorola Solutions-owned communications systems. Our customers’ systems often have multi-year or multi-decade lifespans that help drive demand for software upgrades, as well as additional services to monitor, manage, maintain and secure these complex networks and solutions. We strive to deliver services to our customers that help improve performance across their systems, devices and applications for greater safety and productivity.

Given the mission-critical nature of our customers’ operational environments, we aim to design the mission-critical networks they rely on for reliability, availability, security and resiliency. We have a comprehensive approach to system upgrades that addresses hardware, software and implementation services. As new system releases and data security updates become available, we work with our customers to upgrade software, hardware, or both. This may include site controllers, comparators, routers, LAN switches, servers, dispatch consoles, logging equipment, network management terminals, network security devices such as firewalls and intrusion detection sensors, on-site or remotely.

The MCN technology within the Software and Services segment represented 58% of the net sales of the total segment in 2025.

Video

Video software includes video network management and access control software, decision management and digital evidence management software, certain mobile video equipment and advanced vehicle location data analysis software, including license plate recognition, site protection, and mailroom and visitor management software. Our software is designed to complement video hardware systems, providing end-to-end video security to help keep people, property and places safe.

Our video network management software integrates AI-powered analytics to deliver operational insights to our customers by bringing attention to important events within their video footage. Given the growing volume of video content, we believe that AI-powered analytics are critical to delivering meaningful, action-oriented insights. Our view is that these insights can help to proactively detect an important event in real time as well as reactively search video content to investigate an important event that occurred in the past. For example, AI-powered analytics can highlight a person at a facility out of hours (unusual activity), locate a missing child at a theme park (appearance search), automate video verification workflows for building access (site protection), flag a vehicle of interest at a school (license plate recognition), send an alert if doors to a restricted area are propped open at a hospital (access control), trigger a school's customized lockdown plan while simultaneously alerting first responders and sharing the school's video footage (decision management) or redact people and objects in video evidence for investigations (digital evidence management).

Our cloud technologies can offer organizations the ability to access, search and manage their video security intrusion, access control, mailroom and visitor management systems from a centralized dashboard, accessible on remote devices such as smartphones and laptops via web browser or mobile app. Additionally, our on-premises fixed video systems can be connected to the cloud, enabling our customers to securely access and manage video across their sites from a remote or central monitoring location. We believe that governments, public safety agencies and enterprises are increasingly turning to scalable, cloud-based multi-factor authentication access control to make their facilities more secure.

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Our Video services include our "hardware-as-a-subscription" offerings for law enforcement, simplifying procurement by offering cameras in a predictable subscription. Our body cameras can be paired with either on-premises or cloud-based digital evidence management software and complementary command center products. Our cloud solutions are also sold as-a-service, available from single-year to multi-year hosted services, supporting our customers with upgrades and software enhancements to help ensure system performance and technological advancement. We also provide central monitoring services for customers who prefer a turnkey offering.

The Video technology within the Softwar

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/MSI/mda/fy2025/
All MD&A years: /company/MSI/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/MSI/mda/fy2024/): filed 2025-02-14; accession 0000068505-25-000012 (https://www.sec.gov/Archives/edgar/data/68505/000006850525000012/msi-20241231.htm)
- [FY 2023 MD&A](/company/MSI/mda/fy2023/): filed 2024-02-15; accession 0000068505-24-000008 (https://www.sec.gov/Archives/edgar/data/68505/000006850524000008/msi-20231231.htm)
- [FY 2022 MD&A](/company/MSI/mda/fy2022/): filed 2023-02-16; accession 0000068505-23-000015 (https://www.sec.gov/Archives/edgar/data/68505/000006850523000015/msi-20221231.htm)
- [FY 2021 MD&A](/company/MSI/mda/fy2021/): filed 2022-02-16; accession 0000068505-22-000010 (https://www.sec.gov/Archives/edgar/data/68505/000006850522000010/msi-20211231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 3663 Radio & Tv Broadcasting & Communications Equipment) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [INDPRO](/indicator/INDPRO/): Industrial Production: Total Index
- [TCU](/indicator/TCU/): Capacity Utilization: Total Index
- [PPIACO](/indicator/PPIACO/): Producer Price Index by Commodity: All Commodities
- [GDPC1](/indicator/GDPC1/): Real Gross Domestic Product
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm

Macro-to-micro threads including this sector: [Inflation (CPI / PCE / PPI)](/thread/inflation-cpi-pce-ppi/), [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Money & trade](/thread/money-trade/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/), [Industrial orders & inventories](/thread/industrial-orders/), [Trade & external](/thread/trade-external/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/MSI.md · JSON record: /company/MSI.json · verified financials: /company/MSI/financials.json / /company/MSI/financials.csv · machine TOC for the whole site: /llms.txt