Motorola Solutions (MSI)
Market Price (12/24/2025): $378.35 | Market Cap: $63.1 BilSector: Information Technology | Industry: Communications Equipment
Motorola Solutions (MSI)
Market Price (12/24/2025): $378.35Market Cap: $63.1 BilSector: Information TechnologyIndustry: Communications Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% | Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -24% | Key risksMSI key risks include [1] a significant dependence on government contracts, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%, CFO LTM is 2.6 Bil, FCF LTM is 2.4 Bil | ||
| Low stock price volatilityVol 12M is 23% | ||
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Artificial Intelligence, Cloud Computing, Smart Buildings & Proptech, Show more. |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 24%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%, CFO LTM is 2.6 Bil, FCF LTM is 2.4 Bil |
| Low stock price volatilityVol 12M is 23% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, Artificial Intelligence, Cloud Computing, Smart Buildings & Proptech, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -21%, 3Y Excs Rtn is -24% |
| Key risksMSI key risks include [1] a significant dependence on government contracts, Show more. |
Why The Stock Moved
Qualitative Assessment
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Motorola Solutions (MSI) experienced a notable stock decline between August 31, 2025, and December 24, 2025, with several factors contributing to this movement. The stock's performance during this period included reaching a 52-week low and a significant year-to-date decline. Here are five key points explaining the stock's movement: **1. Q3 2025 Earnings Report and Guidance Concerns:** Despite reporting strong third-quarter 2025 results that exceeded analyst expectations for adjusted EPS and revenue, Motorola Solutions' shares fell following the October 30, 2025, earnings release. The market's muted or negative reaction was attributed to the company highlighting rising tariff-driven cost pressures and issuing fourth-quarter guidance that implied slower profit growth. Investors showed concern over potential tariffs impacting annual costs by up to $100 million for 2025. **2. Broader Market and Sector Underperformance:** MSI's stock underperformed the broader market, including the S&P 500 Index and the Technology Select Sector SPDR Fund (XLK), over the 52 weeks leading up to November 2025, and also showed a year-to-date decline in 2025. This suggests that, in addition to company-specific issues, broader sector concerns or market sentiment may have played a role in the stock's decline. **3. Dilution from Acquisitions and Tariff Headwinds:** An acquisition by Motorola Solutions, specifically the $4.4 billion acquisition of Silvus Technologies, was noted to potentially dilute earnings. Additionally, the expectation of tariff headwinds was cited as a factor dampening performance. **4. Concerns over Slower Growth in Land Mobile Radio Equipment and Potential Government Shutdowns:** The stock's decline was partly attributed to worries about slower growth in land mobile radio equipment, a significant segment for Motorola Solutions. Concerns over a potential U.S. government shutdown also contributed, as it could delay federal contract awards and shipments. **5. Analyst Rating Adjustments and Price Target Cuts:** Following the Q3 2025 earnings, several analysts adjusted their ratings and price targets for MSI. For instance, on October 31, 2025, Barclays cut its price target on MSI, and Piper Sandler reiterated a "neutral" rating with a reduced price objective. These adjustments, reflecting cautious sentiment, likely contributed to investor apprehension and the stock's downward pressure. Show moreStock Movement Drivers
Fundamental Drivers
The -19.3% change in MSI stock from 9/23/2025 to 12/23/2025 was primarily driven by a -19.3% change in the company's P/E Multiple.| 9232025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 469.16 | 378.38 | -19.35% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 11094.00 | 11094.00 | 0.00% |
| Net Income Margin (%) | 19.07% | 19.07% | 0.00% |
| P/E Multiple | 36.98 | 29.83 | -19.35% |
| Shares Outstanding (Mil) | 166.80 | 166.80 | 0.00% |
| Cumulative Contribution | -19.35% |
Market Drivers
9/23/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| MSI | -19.3% | |
| Market (SPY) | 3.7% | 12.0% |
| Sector (XLK) | 4.2% | 6.0% |
Fundamental Drivers
The -9.0% change in MSI stock from 6/24/2025 to 12/23/2025 was primarily driven by a -12.1% change in the company's P/E Multiple.| 6242025 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 416.02 | 378.38 | -9.05% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 10957.00 | 11094.00 | 1.25% |
| Net Income Margin (%) | 18.67% | 19.07% | 2.14% |
| P/E Multiple | 33.94 | 29.83 | -12.11% |
| Shares Outstanding (Mil) | 166.90 | 166.80 | 0.06% |
| Cumulative Contribution | -9.05% |
Market Drivers
6/24/2025 to 12/23/2025| Return | Correlation | |
|---|---|---|
| MSI | -9.0% | |
| Market (SPY) | 13.7% | 17.0% |
| Sector (XLK) | 18.2% | 8.9% |
Fundamental Drivers
The -18.6% change in MSI stock from 12/23/2024 to 12/23/2025 was primarily driven by a -40.0% change in the company's P/E Multiple.| 12232024 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 464.69 | 378.38 | -18.57% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 10656.00 | 11094.00 | 4.11% |
| Net Income Margin (%) | 14.66% | 19.07% | 30.12% |
| P/E Multiple | 49.71 | 29.83 | -40.00% |
| Shares Outstanding (Mil) | 167.10 | 166.80 | 0.18% |
| Cumulative Contribution | -18.57% |
Market Drivers
12/23/2024 to 12/23/2025| Return | Correlation | |
|---|---|---|
| MSI | -18.6% | |
| Market (SPY) | 16.7% | 43.4% |
| Sector (XLK) | 23.2% | 37.4% |
Fundamental Drivers
The 52.5% change in MSI stock from 12/24/2022 to 12/23/2025 was primarily driven by a 41.6% change in the company's Net Income Margin (%).| 12242022 | 12232025 | Change | |
|---|---|---|---|
| Stock Price ($) | 248.16 | 378.38 | 52.47% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8725.00 | 11094.00 | 27.15% |
| Net Income Margin (%) | 13.47% | 19.07% | 41.63% |
| P/E Multiple | 35.31 | 29.83 | -15.54% |
| Shares Outstanding (Mil) | 167.20 | 166.80 | 0.24% |
| Cumulative Contribution | 52.47% |
Market Drivers
12/24/2023 to 12/23/2025| Return | Correlation | |
|---|---|---|
| MSI | 24.7% | |
| Market (SPY) | 48.4% | 44.0% |
| Sector (XLK) | 53.8% | 37.7% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MSI Return | 7% | 62% | -4% | 23% | 49% | -18% | 150% |
| Peers Return | 16% | 47% | -19% | 30% | 24% | 3% | 128% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 114% |
Monthly Win Rates [3] | |||||||
| MSI Win Rate | 58% | 83% | 50% | 50% | 75% | 50% | |
| Peers Win Rate | 57% | 70% | 40% | 57% | 63% | 58% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| MSI Max Drawdown | -22% | -2% | -27% | -2% | -1% | -20% | |
| Peers Max Drawdown | -30% | -3% | -33% | -7% | -11% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: ANET, TU, SWKS, CSCO, MSI. See MSI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/23/2025 (YTD)
How Low Can It Go
| Event | MSI | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -27.8% | -25.4% |
| % Gain to Breakeven | 38.4% | 34.1% |
| Time to Breakeven | 284 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -33.1% | -33.9% |
| % Gain to Breakeven | 49.4% | 51.3% |
| Time to Breakeven | 368 days | 148 days |
| 2018 Correction | ||
| % Loss | -18.6% | -19.8% |
| % Gain to Breakeven | 22.8% | 24.7% |
| Time to Breakeven | 46 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -84.9% | -56.8% |
| % Gain to Breakeven | 563.5% | 131.3% |
| Time to Breakeven | 3,693 days | 1,480 days |
Compare to ANET, TU, SWKS, CSCO, MSI
In The Past
Motorola Solutions's stock fell -27.8% during the 2022 Inflation Shock from a high on 12/29/2021. A -27.8% loss requires a 38.4% gain to breakeven.
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Motorola Solutions, Inc. provides mission critical communications and analytics in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation, and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce. Its land mobile radio communications and video security and access control devices include two-way portable and vehicle-mounted radios, fixed and mobile video cameras, and accessories; 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 Software and 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, unified communications applications, and video software solutions through on-premise and as a service. It serves government, public safety, and commercial customers. 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.
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Here are 1-3 brief analogies to describe Motorola Solutions (MSI):
- Raytheon for public safety and critical enterprise technology. (Analogous to a defense contractor, but focused on technology for police, fire, EMS, utilities, and other essential services.)
- Cisco Systems for mission-critical two-way radio and public safety networks. (Similar to how Cisco provides networking for businesses, MSI builds the secure, resilient communication networks for first responders and critical operations.)
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```html- Land Mobile Radio (LMR) Systems: Provides mission-critical two-way radio communication systems for public safety and enterprise.
- Two-Way Radios: Offers a range of durable handheld and mobile radios for reliable voice communication.
- Command Center Software: Delivers software solutions for emergency call handling, dispatch, and incident management for public safety agencies.
- Video Security & Analytics: Supplies cameras, access control, and intelligent video analytics software for surveillance and security.
- Managed & Support Services: Offers comprehensive services for the maintenance, optimization, and technical support of its communication and security solutions.
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Motorola Solutions (MSI) primarily sells its products and services to other organizations (B2B) rather than directly to individuals. Given the nature of its business, MSI's major customers are predominantly government agencies and a diverse array of enterprise and commercial entities across various sectors worldwide. As such, it is not typical to identify a short list of specific "customer companies" that are publicly traded with associated stock symbols, as would be the case for a component supplier or a company with a few dominant buyers. Their sales are distributed across thousands of governmental bodies and numerous commercial clients globally. Instead, MSI serves broad categories of customers, which include:- Public Safety & Government Agencies: This is Motorola Solutions' largest customer segment. It includes federal, state, and local law enforcement agencies, fire departments, emergency medical services, national security organizations, and other governmental bodies globally that rely on critical communications, command center software, and video security solutions. These entities are not public companies with stock symbols.
- Enterprise & Commercial Customers: This broad category encompasses a wide range of industries that require secure, reliable communications, video security, and analytics solutions. Key verticals include:
- Utilities: Electric, gas, water, and telecom service providers.
- Transportation: Airports, railway operators, port authorities, and public transit systems.
- Industrial & Critical Infrastructure: Manufacturing, mining, oil & gas, and other large industrial operations.
- Other Commercial Sectors: Hospitality, education, healthcare, and large retail chains for internal communication and security needs.
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Greg Brown, Chairman and Chief Executive Officer
Greg Brown has served as the Chairman and Chief Executive Officer of Motorola Solutions since 2008. Prior to joining Motorola in 2003, he was the Chairman and CEO of Micromuse, a company he led which was subsequently acquired by IBM in 2003. During his tenure at Motorola, he led the acquisition of Symbol Technologies for $3.9 billion. Under his leadership, Motorola Solutions has completed over 50 acquisitions and oversaw the split of Motorola into Motorola Mobility and Motorola Solutions in 2008. Motorola Solutions received a $1 billion investment from the private equity firm Silver Lake Partners in 2015.
Jason Winkler, Executive Vice President and Chief Financial Officer
Jason Winkler was appointed Executive Vice President and Chief Financial Officer of Motorola Solutions on July 1, 2020. He has held various financial leadership positions within Motorola Solutions since joining the company in 2001, including finance lead for the products and sales group, global sales and services, North America, chief of staff to the chairman and CEO, and senior director of investor relations. Before his time at Motorola, Winkler worked at Oracle and Hewitt Associates (now AON).
Jack Molloy, Executive Vice President and Chief Operating Officer
Jack Molloy serves as the Executive Vice President and Chief Operating Officer, overseeing the company's global commercial strategy and daily business operations, including sales, services, government affairs, and marketing. With over 31 years at Motorola Solutions, he has held numerous leadership roles in sales organizations, systems integration, managed & support services, and product development teams. He has been instrumental in driving strategic acquisitions and business integrations, expanding the company's video security portfolio.
Mahesh Saptharishi, Executive Vice President and Chief Technology Officer
Mahesh Saptharishi is the Executive Vice President and Chief Technology Officer, responsible for the company's global product organization and overseeing product development for critical communications, video security, and command center solutions. He joined Motorola Solutions in 2018 following the acquisition of Avigilon, where he was the Senior Vice President and Chief Technology Officer. Prior to Avigilon, Saptharishi founded VideoIQ, a video analytics company that was acquired by Avigilon, and also founded Broad Reach Security, which was later acquired by GE.
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Here are the key business risks for Motorola Solutions (MSI):
- Intense Competition and Rapid Technological Change: Motorola Solutions operates in a dynamic market characterized by rapid technological advancements, particularly in AI and video security. The company faces significant competition from new and existing entrants, necessitating continuous innovation and adaptation of its product and service offerings to maintain market share and financial performance. Failure to effectively introduce new products, enhance existing ones, or keep pace with evolving technologies and customer demands, especially in areas like AI and cloud solutions, could adversely impact the business. This also requires substantial investment in research and development, which could strain resources and increase costs.
- Dependence on Government Contracts and Procurement Cycles: A significant portion of Motorola Solutions' revenue is derived from contracts with government agencies, including the U.S. federal government, and state and local public safety entities. These contracts are often long-term but are subject to cancellation at the customer's convenience. Postponements in government equipment replacement cycles can lead to delays in growth and reduced pricing power. The loss of a major government customer, such as the U.S. government (which represented approximately 9% of consolidated net sales in 2024), could have a material adverse effect on the company's revenue and earnings.
- Supply Chain Disruptions: Motorola Solutions is exposed to risks associated with disruptions in its global supply chain. This includes challenges in obtaining necessary materials and components at acceptable prices, as well as complexities and potential non-compliance issues arising from its reliance on third-party subcontractors and suppliers. Global events, such as the "container crisis" or "chip crisis," can significantly impact the company's ability to produce and deliver its products, affecting operational efficiency and profitability.
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The shift towards Mission Critical Push-to-Talk (MCPTT) over commercial and private broadband networks (4G LTE, 5G) presents a clear emerging threat to Motorola Solutions' traditional Land Mobile Radio (LMR) business. While LMR systems (e.g., P25, TETRA) are renowned for their mission-critical reliability and direct mode capabilities, advancements in cellular technology, coupled with the standardization of MCPTT by 3GPP, are enabling robust and increasingly capable broadband-based communication alternatives. This trend could progressively reduce the long-term reliance on dedicated, expensive LMR infrastructure and devices for an expanding segment of public safety and enterprise users. Although Motorola Solutions offers its own Push-to-Talk over Cellular (PoC) solutions (WAVE PTX) and participates in broadband deployments, the growing capability and cost-effectiveness of broadband-based MCPTT could lead to a gradual cannibalization of its core, higher-margin LMR sales and services over time.
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Motorola Solutions (MSI) has an addressable market of $66 billion for all its segments combined. This market size is considered global, as no specific regional limitation was provided in the source.
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Here are 3-5 expected drivers of future revenue growth for Motorola Solutions (MSI) over the next 2-3 years:- Expansion of Software and Services, including Cloud and AI-powered Solutions: Motorola Solutions anticipates continued strong demand and growth in its Software and Services segment. This includes increasing adoption of cloud and Software-as-a-Service (SaaS) solutions, particularly in video security, command center software, and advanced analytics powered by Artificial Intelligence (AI). The company's strategic focus on recurring revenue streams from these higher-margin offerings is a key growth driver.
- Growth in Video Security and Access Control: The company is actively expanding its offerings in video security and access control, driven by new product innovations and strategic acquisitions. This includes integrated physical security suites, AI-powered video analytics, and solutions for various sectors such as public safety, enterprise, and retail. Acquisitions like Avigilon, Pelco, Openpath, and IPVideo have significantly bolstered this portfolio.
- Sustained Demand for Land Mobile Radio (LMR) Communications: LMR systems remain a critical component for public safety and enterprise customers globally, ensuring a steady revenue stream for Motorola Solutions. The company continues to innovate within this segment, introducing new broadband-enabled radios and updating existing products, which drives device sales, software upgrades, and infrastructure expansion.
- Strategic Acquisitions and Partnerships: Motorola Solutions consistently leverages strategic acquisitions to expand its product offerings, technological capabilities, and geographical reach. Recent examples include Silvus Technologies, RapidDeploy, Theatro, Futurecom Systems Group, Rave Mobile Safety, and 3tc Software, all of which enhance its portfolio in mission-critical communications, command center solutions, and public safety software. The company also forms strategic alliances with government agencies and other technology providers to deploy advanced communication and security infrastructure.
- International Market Expansion and Public Safety Initiatives: Motorola Solutions is actively targeting growth in new geographical markets, particularly where there is increasing demand for public safety and enterprise security solutions. The company's focus on essential security and communication products, coupled with long-standing relationships with government and public safety customers worldwide, positions it to benefit from infrastructure development and rising urbanization rates that create a need for enhanced security services.
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1. Share Repurchases
- Motorola Solutions repurchased $804 million of its common stock in 2023 and $836 million in 2022.
- In 2024, the company repurchased $244 million of its common stock at an average price of $396.69 per share.
- The Board of Directors has authorized an aggregate share repurchase amount of up to $18.0 billion with no expiration date. As of December 31, 2024, approximately $2.2 billion of this authority remained available for future repurchases.
2. Share Issuance
- In 2023, Motorola Solutions generated $104 million in net proceeds from the issuance of common stock, primarily related to its employee stock option and employee stock purchase plans.
- Net proceeds from the issuance of common stock in connection with employee stock option and employee stock purchase plans amounted to $156 million in 2022.
3. Inbound Investments
- No significant inbound investments by third-parties were prominently reported within the provided financial summaries for the last 3-5 years.
4. Outbound Investments
- Motorola Solutions acquired Silvus Technologies for $4.4 billion in May 2025, a significant investment in radio systems for various verticals.
- The company's acquisitions and investments, net of cash acquired, totaled $282 million in 2024, $180 million in 2023, and $1.2 billion in 2022.
- Key acquisitions in recent years include Rave Mobile Safety (December 2022), IPVideo (December 2023), 3tc Software (November 2024), and RapidDeploy (February 2025), expanding its public safety and video security offerings.
5. Capital Expenditures
- Capital expenditures were $257 million in 2024, $253 million in 2023, and $256 million in 2022.
- The company's capital expenditures averaged $245.2 million from fiscal years ending December 2020 to 2024.
- Expected capital expenditures for 2025 are projected to be approximately $250.5 million.
Latest Trefis Analyses
| Title | Topic | |
|---|---|---|
| DASHBOARDS | ||
| Motorola Solutions Earnings Notes | ||
| Motorola Solutions Earnings Notes | ||
| Motorola Solutions Stock at Support Zone - Bargain or Trap? | Actionable | |
| Can F5 Outrun Motorola Solutions in the Next Rally? | Counter-Intuitive Comparisons | |
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| How Low Can Motorola Solutions Stock Really Go? | Return | |
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| How Does Motorola Solutions Stock Stack Up Against Its Peers? | Peer Comparison | |
| Day 5 of Gains Streak for Motorola Solutions Stock with 8.6% Return (vs. 2.5% YTD) [8/12/2025] | Notification | |
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| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to MSI. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | ENPH | Enphase Energy | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 11.7% | 11.7% | -0.9% |
| 11262025 | PD | PagerDuty | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 10.2% | 10.2% | 0.0% |
| 11212025 | CRM | Salesforce | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 16.2% | 16.2% | -0.1% |
| 11212025 | HUBS | HubSpot | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 11.7% | 11.7% | 0.0% |
| 11212025 | FIVN | Five9 | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 4.2% | 4.2% | 0.0% |
| 11212025 | MSI | Motorola Solutions | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 2.9% | 2.9% | -1.1% |
Research & Analysis
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Peer Comparisons for Motorola Solutions
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 78.02 |
| Mkt Cap | 63.1 |
| Rev LTM | 11,094 |
| Op Inc LTM | 2,785 |
| FCF LTM | 2,384 |
| FCF 3Y Avg | 2,047 |
| CFO LTM | 4,141 |
| CFO 3Y Avg | 2,964 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.4% |
| Rev Chg 3Y Avg | 5.0% |
| Rev Chg Q | 7.3% |
| QoQ Delta Rev Chg LTM | 1.8% |
| Op Mgn LTM | 22.5% |
| Op Mgn 3Y Avg | 23.8% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 23.8% |
| CFO/Rev 3Y Avg | 26.1% |
| FCF/Rev LTM | 22.1% |
| FCF/Rev 3Y Avg | 24.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 63.1 |
| P/S | 5.3 |
| P/EBIT | 21.1 |
| P/E | 29.8 |
| P/CFO | 22.5 |
| Total Yield | 5.4% |
| Dividend Yield | 2.1% |
| FCF Yield 3Y Avg | 6.0% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.9% |
| 3M Rtn | -17.7% |
| 6M Rtn | -9.0% |
| 12M Rtn | 0.1% |
| 3Y Rtn | 52.5% |
| 1M Excs Rtn | -1.8% |
| 3M Excs Rtn | -20.7% |
| 6M Excs Rtn | -22.6% |
| 12M Excs Rtn | -17.7% |
| 3Y Excs Rtn | -24.4% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Products and Systems Integration | 6,242 | 5,728 | 5,033 | 4,634 | 5,329 |
| Software and Services | 3,736 | 3,384 | 3,138 | 2,780 | 2,558 |
| Total | 9,978 | 9,112 | 8,171 | 7,414 | 7,887 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Products and Systems Integration | 1,244 | 913 | 760 | 656 | 994 |
| Software and Services | 1,050 | 748 | 907 | 727 | 587 |
| Total | 2,294 | 1,661 | 1,667 | 1,383 | 1,581 |
Price Behavior
Price Behavior
| Market Price | $378.38 | |
| Market Cap ($ Bil) | 63.0 | |
| First Trading Date | 01/03/1977 | |
| Distance from 52W High | -22.4% | |
| 50 Days | 200 Days | |
| DMA Price | $393.32 | $422.47 |
| DMA Trend | down | down |
| Distance from DMA | -3.8% | -10.4% |
| 3M | 1YR | |
| Volatility | 22.6% | 23.0% |
| Downside Capture | 44.93 | 57.04 |
| Upside Capture | -65.01 | 28.06 |
| Correlation (SPY) | 10.4% | 43.2% |
MSI Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.42 | 0.28 | 0.32 | 0.44 | 0.52 | 0.61 |
| Up Beta | 1.39 | 1.45 | 1.25 | 1.04 | 0.56 | 0.58 |
| Down Beta | 0.39 | 0.46 | 0.21 | 0.35 | 0.52 | 0.59 |
| Up Capture | -110% | -83% | -52% | 5% | 18% | 32% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 7 | 15 | 27 | 64 | 128 | 410 |
| Down Capture | 97% | 53% | 74% | 56% | 74% | 85% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 12 | 26 | 35 | 61 | 120 | 339 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of MSI With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| MSI | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -17.3% | 26.5% | 18.8% | 72.9% | 9.0% | 3.7% | -11.4% |
| Annualized Volatility | 23.0% | 27.6% | 19.5% | 19.2% | 15.3% | 17.2% | 35.0% |
| Sharpe Ratio | -0.89 | 0.83 | 0.76 | 2.72 | 0.36 | 0.05 | -0.14 |
| Correlation With Other Assets | 37.6% | 43.6% | 9.6% | 11.0% | 35.3% | 16.1% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of MSI With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| MSI | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 19.1% | 19.1% | 14.8% | 18.9% | 11.8% | 4.7% | 35.5% |
| Annualized Volatility | 22.4% | 24.7% | 17.1% | 15.5% | 18.7% | 18.9% | 48.9% |
| Sharpe Ratio | 0.74 | 0.70 | 0.70 | 0.98 | 0.51 | 0.16 | 0.62 |
| Correlation With Other Assets | 52.3% | 59.0% | 8.0% | 8.2% | 48.9% | 21.1% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of MSI With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| MSI | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 20.4% | 22.4% | 14.8% | 15.1% | 6.8% | 5.4% | 69.1% |
| Annualized Volatility | 24.9% | 24.2% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.76 | 0.85 | 0.71 | 0.85 | 0.31 | 0.23 | 0.90 |
| Correlation With Other Assets | 55.7% | 62.1% | 3.1% | 15.5% | 51.2% | 16.7% | |
ETFs used for asset classes: Sector ETF = XLK, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/30/2025 | -5.8% | -9.9% | -12.6% |
| 8/7/2025 | 1.9% | 3.7% | 7.5% |
| 5/1/2025 | -7.5% | -6.6% | -4.6% |
| 2/13/2025 | -6.0% | -9.5% | -9.3% |
| 11/7/2024 | 7.4% | 5.1% | 1.9% |
| 8/1/2024 | 2.9% | 3.4% | 10.9% |
| 5/2/2024 | 5.2% | 7.1% | 9.0% |
| 2/8/2024 | 0.8% | -1.4% | 2.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 13 | 15 |
| # Negative | 10 | 11 | 9 |
| Median Positive | 4.8% | 4.3% | 7.5% |
| Median Negative | -3.4% | -2.0% | -4.6% |
| Max Positive | 7.4% | 9.8% | 16.2% |
| Max Negative | -7.5% | -9.9% | -12.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 10302025 | 10-Q 9/27/2025 |
| 6302025 | 8072025 | 10-Q 6/28/2025 |
| 3312025 | 5012025 | 10-Q 3/29/2025 |
| 12312024 | 2142025 | 10-K 12/31/2024 |
| 9302024 | 11072024 | 10-Q 9/28/2024 |
| 6302024 | 8012024 | 10-Q 6/29/2024 |
| 3312024 | 5022024 | 10-Q 3/30/2024 |
| 12312023 | 2152024 | 10-K 12/31/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 8032023 | 10-Q 7/1/2023 |
| 3312023 | 5042023 | 10-Q 4/1/2023 |
| 12312022 | 2162023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 10/1/2022 |
| 6302022 | 8042022 | 10-Q 7/2/2022 |
| 3312022 | 5122022 | 10-Q 4/2/2022 |
| 12312021 | 2162022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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