Stock Analysis on Net
Stock Analysis on Net

Motorola Solutions Inc. (NYSE:MSI)

This company has been moved to the archive! The financial data has not been updated since August 1, 2024.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Motorola Solutions Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Activity Ratio
Total Asset Turnover
Reported 0.75 0.71 0.67 0.68 0.74
Adjusted 0.81 0.77 0.72 0.74 0.81
Liquidity Ratio
Current Ratio
Reported 1.00 1.15 1.33 1.24 1.21
Adjusted 1.01 1.17 1.35 1.26 1.23
Solvency Ratios
Debt to Equity
Reported 8.31 51.84 — — —
Adjusted — — — — —
Debt to Capital
Reported 0.89 0.98 1.01 1.12 1.16
Adjusted 1.03 1.13 1.12 1.26 1.29
Financial Leverage
Reported 18.42 110.47 — — —
Adjusted — — — — —
Profitability Ratios
Net Profit Margin
Reported 17.13% 14.96% 15.24% 12.80% 11.01%
Adjusted 16.81% 9.55% 15.92% 12.61% 14.18%
Return on Equity (ROE)
Reported 236.05% 1,175.00% — — —
Adjusted — — — — —
Return on Assets (ROA)
Reported 12.81% 10.64% 10.21% 8.73% 8.16%
Adjusted 13.59% 7.35% 11.47% 9.36% 11.45%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Motorola Solutions Inc. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Motorola Solutions Inc. adjusted current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Motorola Solutions Inc. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Motorola Solutions Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Motorola Solutions Inc. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Motorola Solutions Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net sales 9,978 9,112 8,171 7,414 7,887
Total assets 13,336 12,814 12,189 10,876 10,642
Activity Ratio
Total asset turnover1 0.75 0.71 0.67 0.68 0.74
Adjusted
Selected Financial Data (US$ in millions)
Net sales 9,978 9,112 8,171 7,414 7,887
Adjusted total assets2 12,343 11,839 11,343 9,985 9,762
Activity Ratio
Adjusted total asset turnover3 0.81 0.77 0.72 0.74 0.81

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 9,978 ÷ 13,336 = 0.75

2 Adjusted total assets. See details »

3 2023 Calculation
Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 9,978 ÷ 12,343 = 0.81

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Motorola Solutions Inc. adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Current assets 5,725 5,255 5,412 4,327 4,178
Current liabilities 5,736 4,560 4,063 3,489 3,439
Liquidity Ratio
Current ratio1 1.00 1.15 1.33 1.24 1.21
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 5,794 5,316 5,482 4,402 4,241
Current liabilities 5,736 4,560 4,063 3,489 3,439
Liquidity Ratio
Adjusted current ratio3 1.01 1.17 1.35 1.26 1.23

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 5,725 ÷ 5,736 = 1.00

2 Adjusted current assets. See details »

3 2023 Calculation
Adjusted current ratio = Adjusted current assets ÷ Current liabilities
= 5,794 ÷ 5,736 = 1.01

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Motorola Solutions Inc. adjusted current ratio deteriorated from 2021 to 2022 and from 2022 to 2023.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 6,018 6,014 5,693 5,175 5,129
Total Motorola Solutions, Inc. stockholders’ equity (deficit) 724 116 (40) (558) (700)
Solvency Ratio
Debt to equity1 8.31 51.84 — — —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 6,550 6,551 6,130 5,703 5,748
Adjusted total stockholders’ equity (deficit)3 (169) (736) (652) (1,173) (1,301)
Solvency Ratio
Adjusted debt to equity4 — — — — —

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to equity = Total debt ÷ Total Motorola Solutions, Inc. stockholders’ equity (deficit)
= 6,018 ÷ 724 = 8.31

2 Adjusted total debt. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2023 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total stockholders’ equity (deficit)
= 6,550 ÷ -169 = —

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total debt 6,018 6,014 5,693 5,175 5,129
Total capital 6,742 6,130 5,653 4,617 4,429
Solvency Ratio
Debt to capital1 0.89 0.98 1.01 1.12 1.16
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 6,550 6,551 6,130 5,703 5,748
Adjusted total capital3 6,381 5,815 5,478 4,530 4,447
Solvency Ratio
Adjusted debt to capital4 1.03 1.13 1.12 1.26 1.29

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 6,018 ÷ 6,742 = 0.89

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2023 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 6,550 ÷ 6,381 = 1.03

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Motorola Solutions Inc. adjusted debt-to-capital ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Total assets 13,336 12,814 12,189 10,876 10,642
Total Motorola Solutions, Inc. stockholders’ equity (deficit) 724 116 (40) (558) (700)
Solvency Ratio
Financial leverage1 18.42 110.47 — — —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 12,343 11,839 11,343 9,985 9,762
Adjusted total stockholders’ equity (deficit)3 (169) (736) (652) (1,173) (1,301)
Solvency Ratio
Adjusted financial leverage4 — — — — —

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Financial leverage = Total assets ÷ Total Motorola Solutions, Inc. stockholders’ equity (deficit)
= 13,336 ÷ 724 = 18.42

2 Adjusted total assets. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2023 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total stockholders’ equity (deficit)
= 12,343 ÷ -169 = —

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to Motorola Solutions, Inc. 1,709 1,363 1,245 949 868
Net sales 9,978 9,112 8,171 7,414 7,887
Profitability Ratio
Net profit margin1 17.13% 14.96% 15.24% 12.80% 11.01%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings2 1,677 870 1,301 935 1,118
Net sales 9,978 9,112 8,171 7,414 7,887
Profitability Ratio
Adjusted net profit margin3 16.81% 9.55% 15.92% 12.61% 14.18%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
Net profit margin = 100 × Net earnings attributable to Motorola Solutions, Inc. ÷ Net sales
= 100 × 1,709 ÷ 9,978 = 17.13%

2 Adjusted net earnings. See details »

3 2023 Calculation
Adjusted net profit margin = 100 × Adjusted net earnings ÷ Net sales
= 100 × 1,677 ÷ 9,978 = 16.81%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Motorola Solutions Inc. adjusted net profit margin ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to Motorola Solutions, Inc. 1,709 1,363 1,245 949 868
Total Motorola Solutions, Inc. stockholders’ equity (deficit) 724 116 (40) (558) (700)
Profitability Ratio
ROE1 236.05% 1,175.00% — — —
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings2 1,677 870 1,301 935 1,118
Adjusted total stockholders’ equity (deficit)3 (169) (736) (652) (1,173) (1,301)
Profitability Ratio
Adjusted ROE4 — — — — —

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROE = 100 × Net earnings attributable to Motorola Solutions, Inc. ÷ Total Motorola Solutions, Inc. stockholders’ equity (deficit)
= 100 × 1,709 ÷ 724 = 236.05%

2 Adjusted net earnings. See details »

3 Adjusted total stockholders’ equity (deficit). See details »

4 2023 Calculation
Adjusted ROE = 100 × Adjusted net earnings ÷ Adjusted total stockholders’ equity (deficit)
= 100 × 1,677 ÷ -169 = —

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Reported
Selected Financial Data (US$ in millions)
Net earnings attributable to Motorola Solutions, Inc. 1,709 1,363 1,245 949 868
Total assets 13,336 12,814 12,189 10,876 10,642
Profitability Ratio
ROA1 12.81% 10.64% 10.21% 8.73% 8.16%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net earnings2 1,677 870 1,301 935 1,118
Adjusted total assets3 12,343 11,839 11,343 9,985 9,762
Profitability Ratio
Adjusted ROA4 13.59% 7.35% 11.47% 9.36% 11.45%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

1 2023 Calculation
ROA = 100 × Net earnings attributable to Motorola Solutions, Inc. ÷ Total assets
= 100 × 1,709 ÷ 13,336 = 12.81%

2 Adjusted net earnings. See details »

3 Adjusted total assets. See details »

4 2023 Calculation
Adjusted ROA = 100 × Adjusted net earnings ÷ Adjusted total assets
= 100 × 1,677 ÷ 12,343 = 13.59%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Motorola Solutions Inc. adjusted ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.