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Motorola Solutions

NYSE:MSI
Snowflake Description

Established dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MSI
NYSE
$23B
Market Cap
  1. Home
  2. US
  3. Tech
Company description

Motorola Solutions, Inc. provides mission-critical communication solutions the United States, the United Kingdom, Canada, and internationally. The last earnings update was 6 days ago. More info.


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MSI Share Price and Events
7 Day Returns
0.9%
NYSE:MSI
3%
US Communications
1.4%
US Market
1 Year Returns
32.1%
NYSE:MSI
12.9%
US Communications
2.3%
US Market
MSI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Motorola Solutions (MSI) 0.9% 20.9% 11.3% 32.1% 86.9% 110%
US Communications 3% 11% 11.2% 12.9% 77.5% 78.8%
US Market 1.4% 5.6% 5.7% 2.3% 44.2% 40.9%
1 Year Return vs Industry and Market
  • MSI outperformed the Communications industry which returned 12.9% over the past year.
  • MSI outperformed the Market in United States of America which returned 2.3% over the past year.
Price Volatility
MSI
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Motorola Solutions undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Motorola Solutions to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Motorola Solutions.

NYSE:MSI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.6%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:MSI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 7.3%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.03
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.033 (1 + (1- 21%) (23.32%))
1.223
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.223 * 7.27%)
11.62%

Discounted Cash Flow Calculation for NYSE:MSI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Motorola Solutions is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:MSI DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (USD, Millions) 1,397.80 1,502.40 1,553.16 1,605.64 1,659.90
Source Analyst x5 Analyst x5 Est @ 3.38% Est @ 3.38% Est @ 3.38%
Present Value
Discounted (@ 11.62%)
1,252.28 1,205.86 1,116.82 1,034.36 957.98
Present value of next 5 years cash flows $5,567.30
NYSE:MSI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $1,659.90 × (1 + 2.73%) ÷ (11.62% – 2.73%)
$19,179.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $19,179.84 ÷ (1 + 11.62%)5
$11,069.35
NYSE:MSI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $5,567.30 + $11,069.35
$16,636.65
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $16,636.65 / 163.87
$101.52
NYSE:MSI Discount to Share Price
Calculation Result
Value per share (USD) From above. $101.52
Current discount Discount to share price of $138.39
= -1 x ($138.39 - $101.52) / $101.52
-36.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Motorola Solutions is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Motorola Solutions's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Motorola Solutions's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:MSI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $5.95
NYSE:MSI Share Price ** NYSE (2019-02-21) in USD $138.39
United States of America Communications Industry PE Ratio Median Figure of 35 Publicly-Listed Communications Companies 27.23x
United States of America Market PE Ratio Median Figure of 3,045 Publicly-Listed Companies 17.39x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Motorola Solutions.

NYSE:MSI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MSI Share Price ÷ EPS (both in USD)

= 138.39 ÷ 5.95

23.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Motorola Solutions is good value based on earnings compared to the US Communications industry average.
  • Motorola Solutions is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Motorola Solutions's expected growth come at a high price?
Raw Data
NYSE:MSI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
11.7%per year
United States of America Communications Industry PEG Ratio Median Figure of 22 Publicly-Listed Communications Companies 1.6x
United States of America Market PEG Ratio Median Figure of 2,118 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

NYSE:MSI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.27x ÷ 11.7%

1.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Motorola Solutions is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Motorola Solutions's assets?
Raw Data
NYSE:MSI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $-7.91
NYSE:MSI Share Price * NYSE (2019-02-21) in USD $138.39
United States of America Communications Industry PB Ratio Median Figure of 67 Publicly-Listed Communications Companies 1.87x
United States of America Market PB Ratio Median Figure of 5,129 Publicly-Listed Companies 1.87x
NYSE:MSI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MSI Share Price ÷ Book Value per Share (both in USD)

= 138.39 ÷ -7.91

-17.5x

* Primary Listing of Motorola Solutions.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Motorola Solutions has negative assets, we can't compare the value of its assets to the US Communications industry average.
X
Value checks
We assess Motorola Solutions's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check)
  5. Motorola Solutions has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Motorola Solutions expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Motorola Solutions expected to grow at an attractive rate?
  • Motorola Solutions's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Motorola Solutions's earnings growth is positive but not above the United States of America market average.
  • Motorola Solutions's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MSI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MSI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 11.7%
NYSE:MSI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 4.7%
United States of America Communications Industry Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Communications Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:MSI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MSI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 9,112 1
2022-12-31 8,771 1
2021-12-31 8,641 1,395 3
2020-12-31 8,193 1,734 1,239 13
2019-12-31 7,830 1,607 1,123 13
NYSE:MSI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 7,343 1,075 966
2018-09-29 7,046 1,024 -31
2018-06-30 6,830 956 -66
2018-03-31 6,567 704 -115
2017-12-31 6,380 1,346 -155
2017-09-30 6,306 1,098 663
2017-07-01 6,192 1,176 644
2017-04-01 6,126 1,294 620
2016-12-31 6,038 1,165 560
2016-10-01 5,837 1,066 594
2016-07-02 5,727 1,019 526
2016-04-02 5,665 878 570

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Motorola Solutions's earnings are expected to grow by 11.7% yearly, however this is not considered high growth (20% yearly).
  • Motorola Solutions's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:MSI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Motorola Solutions Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MSI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 8.24 8.24 8.24 1.00
2020-12-31 7.17 7.66 6.71 6.00
2019-12-31 6.54 7.04 6.30 6.00
NYSE:MSI Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 5.95
2018-09-29 -0.19
2018-06-30 -0.41
2018-03-31 -0.71
2017-12-31 -0.95
2017-09-30 4.05
2017-07-01 3.90
2017-04-01 3.71
2016-12-31 3.30
2016-10-01 3.44
2016-07-02 2.92
2016-04-02 3.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Motorola Solutions will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Motorola Solutions's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Motorola Solutions has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Motorola Solutions performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Motorola Solutions's growth in the last year to its industry (Communications).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Motorola Solutions's year on year earnings growth rate has been positive over the past 5 years.
  • Motorola Solutions has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Motorola Solutions has become profitable in the last year making it difficult to compare the US Communications industry average.
Earnings and Revenue History
Motorola Solutions's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Motorola Solutions Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MSI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 7,343.00 966.00 1,179.00 637.00
2018-09-29 7,046.00 -31.00 1,115.00 627.00
2018-06-30 6,830.00 -66.00 1,057.00 609.00
2018-03-31 6,567.00 -115.00 1,014.00 585.00
2017-12-31 6,380.00 -155.00 979.00 568.00
2017-09-30 6,306.00 663.00 1,002.00 555.00
2017-07-01 6,192.00 644.00 1,001.00 552.00
2017-04-01 6,126.00 620.00 1,010.00 553.00
2016-12-31 6,038.00 560.00 999.00 553.00
2016-10-01 5,837.00 594.00 974.00 563.00
2016-07-02 5,727.00 526.00 986.00 579.00
2016-04-02 5,665.00 570.00 999.00 596.00
2015-12-31 5,695.00 640.00 1,021.00 620.00
2015-10-03 5,836.00 -563.00 1,051.00 633.00
2015-07-04 5,850.00 -622.00 1,079.00 646.00
2015-04-04 5,876.00 -695.00 1,133.00 666.00
2014-12-31 5,881.00 -697.00 1,184.00 681.00
2014-09-27 5,875.00 521.00 1,248.00 712.00
2014-06-28 5,956.00 716.00 1,280.00 729.00
2014-03-29 6,059.00 861.00 1,311.00 748.00
2013-12-31 6,227.00 933.00 1,330.00 761.00
2013-09-28 4,422.00 769.00 1,002.00 570.00
2013-06-29 7,487.00 922.00 1,660.00 934.00
2013-03-30 8,138.00 876.00 1,817.00 1,008.00
2012-12-31 6,269.00 670.00 1,472.00 790.00
2012-09-29 8,557.00 719.00 1,952.00 1,051.00
2012-06-30 8,489.00 666.00 1,937.00 1,059.00
2012-03-31 8,325.00 539.00 1,923.00 1,050.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Motorola Solutions has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Motorola Solutions used its assets more efficiently than the US Communications industry average last year based on Return on Assets.
  • Motorola Solutions has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Motorola Solutions's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Communications industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Motorola Solutions has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Motorola Solutions's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Motorola Solutions's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Motorola Solutions is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Motorola Solutions's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Motorola Solutions's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Motorola Solutions has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Motorola Solutions Company Filings, last reported 1 month ago.

NYSE:MSI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 -1,276.00 5,320.00 1,246.00
2018-09-29 -1,395.00 5,432.00 839.00
2018-06-30 -1,492.00 5,645.00 878.00
2018-03-31 -1,539.00 5,796.00 795.00
2017-12-31 -1,727.00 4,471.00 1,205.00
2017-09-30 -818.00 4,470.00 653.00
2017-07-01 -976.00 4,467.00 792.00
2017-04-01 -1,037.00 4,458.00 811.00
2016-12-31 -952.00 4,396.00 1,013.00
2016-10-01 -648.00 5,049.00 1,732.00
2016-07-02 -678.00 5,033.00 1,592.00
2016-04-02 -137.00 5,027.00 1,987.00
2015-12-31 -96.00 4,349.00 2,418.00
2015-10-03 -298.00 4,390.00 2,200.00
2015-07-04 1,823.00 3,399.00 3,112.00
2015-04-04 2,094.00 3,398.00 3,353.00
2014-12-31 2,766.00 3,400.00 3,954.00
2014-09-27 3,242.00 3,405.00 2,845.00
2014-06-28 4,169.00 2,450.00 2,876.00
2014-03-29 3,747.00 2,466.00 3,141.00
2013-12-31 3,689.00 2,461.00 3,225.00
2013-09-28 2,705.00 2,462.00 2,890.00
2013-06-29 2,819.00 2,456.00 3,216.00
2013-03-30 3,122.00 2,454.00 3,718.00
2012-12-31 3,290.00 1,863.00 3,601.00
2012-09-29 3,897.00 1,864.00 3,539.00
2012-06-30 3,873.00 1,865.00 3,705.00
2012-03-31 4,110.00 1,530.00 3,767.00
  • Motorola Solutions has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Motorola Solutions's debt level has increased considering it has negative shareholder equity.
  • Debt is well covered by operating cash flow (20.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.9x coverage).
X
Financial health checks
We assess Motorola Solutions's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Motorola Solutions has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Motorola Solutions's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.65%
Current annual income from Motorola Solutions dividends. Estimated to be 1.8% next year.
If you bought $2,000 of Motorola Solutions shares you are expected to receive $33 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Motorola Solutions's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.4%).
  • Motorola Solutions's dividend is below the markets top 25% of dividend payers in United States of America (3.54%).
Upcoming dividend payment

Purchase Motorola Solutions on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:MSI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
United States of America Communications Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2001 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:MSI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 2.85 2.00
2020-12-31 2.55 6.00
2019-12-31 2.31 6.00
NYSE:MSI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-14 2.280 1.646
2018-11-15 2.280 1.879
2018-08-28 2.080 1.658
2018-05-15 2.080 1.775
2018-02-15 2.080 1.934
2017-11-03 2.080 2.201
2017-08-22 1.880 2.150
2017-05-16 1.880 2.161
2017-02-16 1.880 2.260
2017-02-02 1.880 2.374
2016-11-04 1.880 2.300
2016-11-03 1.880 2.557
2016-08-18 1.640 2.179
2016-05-17 1.640 2.385
2016-02-18 1.640 2.245
2015-11-17 1.640 2.461
2015-08-18 1.360 2.010
2015-05-19 1.360 2.285
2015-02-12 1.360 2.130
2014-11-13 1.360 2.088
2014-07-31 1.360 2.203
2014-05-06 1.240 1.863
2014-01-30 1.240 1.915
2013-10-17 1.240 1.915
2013-05-07 1.040 1.803
2013-01-17 1.040 1.709
2012-10-26 1.040 1.905
2012-07-25 1.040 2.115
2012-05-01 0.880 1.838
2012-01-27 0.880 1.781
2011-11-09 0.880 1.905
2011-07-28 0.880 2.059
2011-01-27 0.000 0.000
2010-11-02 0.000 0.000
2010-10-28 0.000 0.000
2010-08-05 0.000 0.000
2010-07-29 0.000 0.000
2010-05-04 0.000 0.000
2010-04-29 0.000 0.000
2010-02-16 0.000 0.000
2010-01-28 0.000 0.000
2009-11-04 0.000 0.000
2009-10-29 0.000 0.000
2009-08-04 0.000 0.000
2009-07-30 0.000 0.000
2009-02-23 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Motorola Solutions's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.3x coverage).
X
Income/ dividend checks
We assess Motorola Solutions's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Motorola Solutions afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Motorola Solutions has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Motorola Solutions's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Greg Brown
COMPENSATION $15,339,548
AGE 58
TENURE AS CEO 7.8 years
CEO Bio

Mr. Gregory Q. Brown, also known as Greg, has been the Chief Executive Officer of Motorola Solutions, Inc. since May 3, 2011. Mr. Brown has been an Executive Director of Motorola Solutions, Inc., since July 25, 2007. He serves as the President of Motorola Ventures. Mr. Brown served as the Chief Executive Officer of Motorola Solutions Inc., from January 1, 2008 to August 3, 2008. He served as the President of Motorola Solutions, Inc., from March 2007 to August 2008 and again from January 2011 to May 2011. He served as Co-Chief Executive Officer of Motorola Solutions, Inc., from August 4, 2008 to January 4, 2011, Chief Operating Officer from March 2007 to January 2008 and an Executive Vice President from January 2003 to March 21, 2007. He served as the Chief Executive Officer of Broadband Mobility solutions at Motorola Solutions, Inc. since August 2008. He also served as Chief Executive Officer of Enterprise Mobility Solutions and Networks businesses. He has 25 years of high-tech experience includes leadership positions in the Telecommunications, Computing, Software and Wireless Industries. He has been an Executive Chairman of Motorola Solutions, Inc. since May 3, 2011 and also as its Head of Broadband Mobility Solutions Division since August 2008. Mr. Brown served as the Chief Executive Officer and President of Commercial Solutions at Government Solutions and Industrial Solutions at Motorola Solutions, Inc. from January 2003 to January 2005. He served as the President of Government & Enterprise Mobility Solutions (GEMS) Business Unit of Motorola from January 2005 to March 3, 2006 and the President of Motorola Networks & Enterprise from March 3, 2006 to March 21, 2007. From January 2003 to March 2007, he served as President of various Motorola businesses within Broadband Mobility Solutions. He served as the Chairman of RiverSoft, Inc. He served as the Chairman and Chief Executive Officer of Micromuse, Inc. (formerly, Riversoft PLC) from February 1999 to January 2003. Prior to Micromuse, he served as the President of Ameritech Custom Business Services of Ameritech Corporation from 1996 to 1999. He served as the President of Ameritech New Media Inc., from September 1996 to February 1999 and was responsible for all of its Consumer Cable TV Operations, Programming and Content Relationships. Mr. Brown served in a variety of General Management Positions, including 4 years as the President of two Ameritech Information System Divisions. Prior to Ameritech in 1987, he held a variety of Sales and Marketing positions with AT&T in Michigan for 5 years. He has been the Chair of Federal Reserve Bank Of Chicago since January 1, 2015. He served as the Deputy Chair of Federal Reserve Bank Of Chicagofrom January 1, 2013 to January 1, 2015. He has been Director of Xerox Corporation since January 26, 2017. He has been Director of Federal Reserve Bank Of Chicago since 2013. He serves as a Director for National Merit Scholarship Corporation. He serves as Member of the College of Engineering Advisory Council at the University of Notre Dame and serves as Member of the Board of Overseers at Rutgers University Foundation. He serves as a Member of Board of Directors at World Business Chicago and the Chicago Council on Foreign Relations. He served as Director of US-China Business Council, Inc. He served as a Director of R.R. Donnelley & Sons Company from 2001 to May 26, 2005 and Micromuse Inc. until June 2004. He served as a Director of Micromuse Systems, Inc. from January 31, 2013 to July 31, 2014. He is a member of the Business Council, the Business Roundtable, the Technology Chief Executive Officer Council, the Commercial Club of Chicago and the Northwestern Memorial Hospital board and US-China Business Council, Inc. He is a Member of the Northwestern University Memorial Foundation. He is a Member of the 2016 Chicago Olympic Committee. He was a member of the President of the United States’ Management Advisory Board. He was a Member of White House's on President Bush's National Security Telecommunications Advisory Committee (NSTAC) since May 2004. Mr. Brown received a BA in Economics from Rutgers University in June 1982.

CEO Compensation
  • Greg's compensation has increased in line with Motorola Solutions recently becoming profitable.
  • Greg's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Motorola Solutions management team in years:

2.8
Average Tenure
53
Average Age
  • The tenure for the Motorola Solutions management team is about average.
Management Team

Greg Brown

TITLE
Chairman & CEO
COMPENSATION
$15M
AGE
58
TENURE
7.8 yrs

Gino Bonanotte

TITLE
Executive VP & CFO
COMPENSATION
$4M
AGE
53
TENURE
5.3 yrs

Mark Hacker

TITLE
Executive VP
COMPENSATION
$3M
AGE
46
TENURE
4.1 yrs

Jack Molloy

TITLE
Executive Vice President of Products & Sales
COMPENSATION
$6M
AGE
46
TENURE
1.6 yrs

Dan Pekofske

TITLE
Corporate VP & Chief Accounting Officer
AGE
42
TENURE
0.4 yrs

Paul Steinberg

TITLE
CTO & Senior VP
AGE
55

Chris Kutsor

TITLE
Vice President of Investor Relations

Cynthia Yazdi

TITLE
Senior VP and Chief of Staff
AGE
53
TENURE
0.5 yrs

Manuel Cuevas-Trisán

TITLE
Chief Human Resources Officer and Corporate VP of Employment Law & Data Protection

Michael Annes

TITLE
Senior Vice President of Business Development
AGE
54
Board of Directors Tenure

Average tenure and age of the Motorola Solutions board of directors in years:

4.1
Average Tenure
59
Average Age
  • The tenure for the Motorola Solutions board of directors is about average.
Board of Directors

Greg Brown

TITLE
Chairman & CEO
COMPENSATION
$15M
AGE
58
TENURE
7.8 yrs

Judy Lewent

TITLE
Independent Director
COMPENSATION
$313K
AGE
69
TENURE
8.1 yrs

Anne Pramaggiore

TITLE
Independent Director
COMPENSATION
$300K
AGE
59
TENURE
6.1 yrs

Ken Denman

TITLE
Independent Director
COMPENSATION
$282K
AGE
59
TENURE
2 yrs

Sam Scott

TITLE
Lead Independent Director
COMPENSATION
$330K
AGE
74
TENURE
4.1 yrs

Clay Jones

TITLE
Independent Director
COMPENSATION
$298K
AGE
69
TENURE
4.1 yrs

Egon Durban

TITLE
Independent Director
COMPENSATION
$290K
AGE
45
TENURE
3.5 yrs

Greg Mondre

TITLE
Independent Director
COMPENSATION
$295K
AGE
44
TENURE
3.5 yrs

Joe Tucci

TITLE
Independent Director
COMPENSATION
$257K
AGE
71
TENURE
1.8 yrs

Egon Durban

TITLE
Director
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
08. Nov 18 Sell Cynthia Yazdi Individual 06. Nov 18 06. Nov 18 -735 $124.70 $-91,655
07. Nov 18 Sell Daniel Pekofske Individual 05. Nov 18 05. Nov 18 -117 $123.13 $-14,406
14. Sep 18 Sell John Molloy Individual 12. Sep 18 12. Sep 18 -332 $125.93 $-41,810
11. Sep 18 Sell Mark Hacker Individual 07. Sep 18 07. Sep 18 -8,476 $126.79 $-1,074,686
14. Mar 18 Sell Gregory Brown Individual 13. Mar 18 13. Mar 18 -22,000 $109.53 $-2,399,109
X
Management checks
We assess Motorola Solutions's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Motorola Solutions has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Motorola Solutions, Inc. (NYSE:MSI) Expensive For A Reason? A Look At The Intrinsic Value

by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.

Simply Wall St -

Motorola Solutions, Inc. (NYSE:MSI) Insiders Have Been Selling

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … As a general rule we consider it to be discouraging when insiders are selling below the current price. … It's not particularly great to see insiders were selling shares around current prices

Simply Wall St -

Should You Like Motorola Solutions, Inc.’s (NYSE:MSI) High Return On Capital Employed?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

What Kind Of Shareholders Own Motorola Solutions Inc (NYSE:MSI)?

The big shareholder groups in Motorola Solutions Inc (NYSE:MSI) have power over the company. … Generally speaking, as a company grows, institutions will increase their ownership. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Is Motorola Solutions Inc's (NYSE:MSI) CEO Salary Justified?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … How Does Greg Brown's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Motorola Solutions Inc has a market cap of US$19.5b, and is paying total annual CEO compensation of US$15m.

Simply Wall St -

Motorola Solutions Inc (NYSE:MSI) Investors Are Paying Above The Intrinsic Value

by taking the expected future cash flows and discounting them to today's value. … discounted cash flows (DCF). … If you are reading this and its not July 2018 then I highly recommend you check out the latest calculation for Motorola Solutions by following the link below

Simply Wall St -

What Does Motorola Solutions Inc's (NYSE:MSI) Share Price Indicate?

saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. … With many analysts covering the large-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … However, could the stock still be trading at a relatively cheap price

Simply Wall St -

Motorola Solutions Inc (NYSE:MSI): Ex-Dividend Is In 5 Days, Should You Buy?

Motorola Solutions Inc (NYSE:MSI) will be distributing its dividend of $0.52 per share on the 13 July 2018, and will start trading ex-dividend in 5 days time on the 14 June 2018. … Below, I will explain how holding Motorola Solutions can impact your portfolio income stream, by analysing the stock's most recent financial data and dividend attributes. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:

Simply Wall St -

With A -118.57% Earnings Drop, Did Motorola Solutions Inc (NYSE:MSI) Really Underperform?

NYSE:MSI Income Statement May 25th 18 We can further evaluate Motorola Solutions's loss by looking at what the industry has been experiencing over the past few years. … Each year, for the past half a decade Motorola Solutions has seen an annual decline in revenue of -4.15%, on average. … I recommend you continue to research Motorola Solutions to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for MSI’s future growth?

Simply Wall St -

Is Motorola Solutions Inc (NYSE:MSI) Undervalued?

Let’s take a look at Motorola Solutions’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … This means that if you believe the current share price should move towards its intrinsic value over time, a low beta could suggest it is not likely to reach that level anytime soon, and once it’s there, it may be hard to fall back down into an attractive buying range again. … If you believe MSI should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable.

Simply Wall St -

Company Info

Map
Description

Motorola Solutions, Inc. provides mission-critical communication solutions the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Services and Software. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video solutions, as well as the implementation, optimization, and integration of networks, devices, software, and applications for government, public safety and first-responder agencies, municipalities, and commercial and industrial customers. Its products include two-way portable and vehicle-mounted radios, accessories, software features, and upgrades; video cameras; radio network core and central processing software, base stations, consoles, and repeaters; and video analytics, network video management hardware and software, and access control solutions. The Services segment provides repair, technical support, and hardware maintenance services. This segment also offers monitoring, software updates, and cybersecurity services; and public safety and enterprise command center software suite, unified communications applications, and video software solutions. It serves for government, public safety, and commercial communication networks. The company was formerly known as Motorola, Inc. and changed its name to Motorola Solutions, Inc. in January 2011. Motorola Solutions, Inc. was founded in 1928 and is headquartered in Chicago, Illinois.

Details
Name: Motorola Solutions, Inc.
MSI
Exchange: NYSE
Founded: 1928
$22,812,522,002
163,871,288
Website: http://www.motorolasolutions.com
Address: Motorola Solutions, Inc.
500 West Monroe Street,
Suite 4400,
Chicago,
Illinois, 60661,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MSI Common Stock New York Stock Exchange US USD 02. Jan 1968
DB MTLA Common Stock Deutsche Boerse AG DE EUR 02. Jan 1968
LSE 0K3H Common Stock London Stock Exchange GB USD 02. Jan 1968
Number of employees
Current staff
Staff numbers
16,000
Motorola Solutions employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/21 23:42
End of day share price update: 2019/02/21 00:00
Last estimates confirmation: 2019/02/12
Last earnings filing: 2019/02/15
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.