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.

Analysis of Solvency Ratios

Microsoft Excel

Solvency Ratios (Summary)

Motorola Solutions Inc., solvency ratios

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Debt Ratios
Debt to equity 8.31 51.84
Debt to equity (including operating lease liability) 9.05 56.47
Debt to capital 0.89 0.98 1.01 1.12 1.16
Debt to capital (including operating lease liability) 0.90 0.98 1.01 1.11 1.14
Debt to assets 0.45 0.47 0.47 0.48 0.48
Debt to assets (including operating lease liability) 0.49 0.51 0.50 0.52 0.54
Financial leverage 18.42 110.47
Coverage Ratios
Interest coverage 9.62 7.31 8.22 6.04 5.22
Fixed charge coverage 6.52 5.09 5.46 4.23 3.71

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).

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Motorola Solutions Inc. debt to capital ratio improved from 2021 to 2022 and from 2022 to 2023.
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Motorola Solutions Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023.
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Motorola Solutions Inc. debt to assets ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Motorola Solutions Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Motorola Solutions Inc. interest coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Motorola Solutions Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Debt to Equity

Motorola Solutions Inc., debt to equity calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,313 1 5 12 16
Long-term debt, excluding current portion 4,705 6,013 5,688 5,163 5,113
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
Benchmarks
Debt to Equity, Competitors2
Apple Inc. 1.80 2.39 1.99 1.73 1.19
Arista Networks Inc. 0.00 0.00 0.00 0.00 0.00
Cisco Systems Inc. 0.19 0.24 0.28 0.38 0.73
Super Micro Computer Inc. 0.15 0.42 0.09 0.03 0.03
Debt to Equity, Sector
Technology Hardware & Equipment 1.04 1.36 1.25 1.19 1.04
Debt to Equity, Industry
Information Technology 0.62 0.67 0.76 0.87 0.87

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 Click competitor name to see calculations.


Debt to Equity (including Operating Lease Liability)

Motorola Solutions Inc., debt to equity (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,313 1 5 12 16
Long-term debt, excluding current portion 4,705 6,013 5,688 5,163 5,113
Total debt 6,018 6,014 5,693 5,175 5,129
Current operating lease liabilities 125 118 124 126 122
Non-current operating lease liabilities 407 419 313 402 497
Total debt (including operating lease liability) 6,550 6,551 6,130 5,703 5,748
 
Total Motorola Solutions, Inc. stockholders’ equity (deficit) 724 116 (40) (558) (700)
Solvency Ratio
Debt to equity (including operating lease liability)1 9.05 56.47
Benchmarks
Debt to Equity (including Operating Lease Liability), Competitors2
Apple Inc. 1.99 2.61 2.16 1.87 1.19
Arista Networks Inc. 0.01 0.01 0.02 0.03 0.03
Cisco Systems Inc. 0.21 0.27 0.31 0.41 0.73
Super Micro Computer Inc. 0.16 0.44 0.11 0.05 0.03
Debt to Equity (including Operating Lease Liability), Sector
Technology Hardware & Equipment 1.16 1.49 1.37 1.28 1.04
Debt to Equity (including Operating Lease Liability), Industry
Information Technology 0.68 0.73 0.83 0.94 0.90

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Motorola Solutions, Inc. stockholders’ equity (deficit)
= 6,550 ÷ 724 = 9.05

2 Click competitor name to see calculations.


Debt to Capital

Motorola Solutions Inc., debt to capital calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,313 1 5 12 16
Long-term debt, excluding current portion 4,705 6,013 5,688 5,163 5,113
Total debt 6,018 6,014 5,693 5,175 5,129
Total Motorola Solutions, Inc. stockholders’ equity (deficit) 724 116 (40) (558) (700)
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
Benchmarks
Debt to Capital, Competitors2
Apple Inc. 0.64 0.70 0.67 0.63 0.54
Arista Networks Inc. 0.00 0.00 0.00 0.00 0.00
Cisco Systems Inc. 0.16 0.19 0.22 0.28 0.42
Super Micro Computer Inc. 0.13 0.30 0.08 0.03 0.02
Debt to Capital, Sector
Technology Hardware & Equipment 0.51 0.58 0.56 0.54 0.51
Debt to Capital, Industry
Information Technology 0.38 0.40 0.43 0.47 0.46

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 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. Motorola Solutions Inc. debt to capital ratio improved from 2021 to 2022 and from 2022 to 2023.

Debt to Capital (including Operating Lease Liability)

Motorola Solutions Inc., debt to capital (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,313 1 5 12 16
Long-term debt, excluding current portion 4,705 6,013 5,688 5,163 5,113
Total debt 6,018 6,014 5,693 5,175 5,129
Current operating lease liabilities 125 118 124 126 122
Non-current operating lease liabilities 407 419 313 402 497
Total debt (including operating lease liability) 6,550 6,551 6,130 5,703 5,748
Total Motorola Solutions, Inc. stockholders’ equity (deficit) 724 116 (40) (558) (700)
Total capital (including operating lease liability) 7,274 6,667 6,090 5,145 5,048
Solvency Ratio
Debt to capital (including operating lease liability)1 0.90 0.98 1.01 1.11 1.14
Benchmarks
Debt to Capital (including Operating Lease Liability), Competitors2
Apple Inc. 0.67 0.72 0.68 0.65 0.54
Arista Networks Inc. 0.01 0.01 0.02 0.03 0.03
Cisco Systems Inc. 0.18 0.21 0.24 0.29 0.42
Super Micro Computer Inc. 0.14 0.30 0.10 0.05 0.02
Debt to Capital (including Operating Lease Liability), Sector
Technology Hardware & Equipment 0.54 0.60 0.58 0.56 0.51
Debt to Capital (including Operating Lease Liability), Industry
Information Technology 0.41 0.42 0.45 0.49 0.47

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 (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 6,550 ÷ 7,274 = 0.90

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to capital ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. Motorola Solutions Inc. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023.

Debt to Assets

Motorola Solutions Inc., debt to assets calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,313 1 5 12 16
Long-term debt, excluding current portion 4,705 6,013 5,688 5,163 5,113
Total debt 6,018 6,014 5,693 5,175 5,129
 
Total assets 13,336 12,814 12,189 10,876 10,642
Solvency Ratio
Debt to assets1 0.45 0.47 0.47 0.48 0.48
Benchmarks
Debt to Assets, Competitors2
Apple Inc. 0.32 0.34 0.36 0.35 0.32
Arista Networks Inc. 0.00 0.00 0.00 0.00 0.00
Cisco Systems Inc. 0.08 0.10 0.12 0.15 0.25
Super Micro Computer Inc. 0.08 0.19 0.04 0.02 0.01
Debt to Assets, Sector
Technology Hardware & Equipment 0.26 0.29 0.30 0.30 0.30
Debt to Assets, Industry
Information Technology 0.26 0.26 0.28 0.30 0.30

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 assets = Total debt ÷ Total assets
= 6,018 ÷ 13,336 = 0.45

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio A solvency ratio calculated as total debt divided by total assets. Motorola Solutions Inc. debt to assets ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Debt to Assets (including Operating Lease Liability)

Motorola Solutions Inc., debt to assets (including operating lease liability) calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Current portion of long-term debt 1,313 1 5 12 16
Long-term debt, excluding current portion 4,705 6,013 5,688 5,163 5,113
Total debt 6,018 6,014 5,693 5,175 5,129
Current operating lease liabilities 125 118 124 126 122
Non-current operating lease liabilities 407 419 313 402 497
Total debt (including operating lease liability) 6,550 6,551 6,130 5,703 5,748
 
Total assets 13,336 12,814 12,189 10,876 10,642
Solvency Ratio
Debt to assets (including operating lease liability)1 0.49 0.51 0.50 0.52 0.54
Benchmarks
Debt to Assets (including Operating Lease Liability), Competitors2
Apple Inc. 0.35 0.38 0.39 0.38 0.32
Arista Networks Inc. 0.01 0.01 0.01 0.02 0.02
Cisco Systems Inc. 0.09 0.11 0.13 0.16 0.25
Super Micro Computer Inc. 0.08 0.19 0.05 0.03 0.01
Debt to Assets (including Operating Lease Liability), Sector
Technology Hardware & Equipment 0.29 0.31 0.33 0.32 0.30
Debt to Assets (including Operating Lease Liability), Industry
Information Technology 0.28 0.29 0.31 0.33 0.31

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 assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 6,550 ÷ 13,336 = 0.49

2 Click competitor name to see calculations.

Solvency ratio Description The company
Debt to assets ratio (including operating lease liability) A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. Motorola Solutions Inc. debt to assets ratio (including operating lease liability) deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Financial Leverage

Motorola Solutions Inc., financial leverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
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
Benchmarks
Financial Leverage, Competitors2
Apple Inc. 5.67 6.96 5.56 4.96 3.74
Arista Networks Inc. 1.38 1.39 1.44 1.43 1.45
Cisco Systems Inc. 2.30 2.36 2.36 2.50 2.91
Super Micro Computer Inc. 1.86 2.25 2.05 1.80 1.79
Financial Leverage, Sector
Technology Hardware & Equipment 4.05 4.72 4.17 3.95 3.46
Financial Leverage, Industry
Information Technology 2.44 2.56 2.71 2.90 2.86

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 Click competitor name to see calculations.


Interest Coverage

Motorola Solutions Inc., interest coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net earnings attributable to Motorola Solutions, Inc. 1,709 1,363 1,245 949 868
Add: Net income attributable to noncontrolling interest 5 4 5 4 3
Add: Income tax expense 432 148 302 221 130
Add: Interest expense 249 240 215 233 237
Earnings before interest and tax (EBIT) 2,395 1,755 1,767 1,407 1,238
Solvency Ratio
Interest coverage1 9.62 7.31 8.22 6.04 5.22
Benchmarks
Interest Coverage, Competitors2
Apple Inc. 29.92 41.64 42.29 24.35 19.38
Arista Networks Inc.
Cisco Systems Inc. 36.87 41.21 31.56 24.88 17.96
Super Micro Computer Inc. 72.55 53.71 48.81 40.01 13.97
Interest Coverage, Sector
Technology Hardware & Equipment 31.25 42.09 41.08 24.67 19.29
Interest Coverage, Industry
Information Technology 18.86 24.65 23.05 16.83 15.85

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
Interest coverage = EBIT ÷ Interest expense
= 2,395 ÷ 249 = 9.62

2 Click competitor name to see calculations.

Solvency ratio Description The company
Interest coverage ratio A solvency ratio calculated as EBIT divided by interest payments. Motorola Solutions Inc. interest coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Fixed Charge Coverage

Motorola Solutions Inc., fixed charge coverage calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Selected Financial Data (US$ in millions)
Net earnings attributable to Motorola Solutions, Inc. 1,709 1,363 1,245 949 868
Add: Net income attributable to noncontrolling interest 5 4 5 4 3
Add: Income tax expense 432 148 302 221 130
Add: Interest expense 249 240 215 233 237
Earnings before interest and tax (EBIT) 2,395 1,755 1,767 1,407 1,238
Add: Operating lease cost 140 130 133 130 133
Earnings before fixed charges and tax 2,535 1,885 1,900 1,537 1,371
 
Interest expense 249 240 215 233 237
Operating lease cost 140 130 133 130 133
Fixed charges 389 370 348 363 370
Solvency Ratio
Fixed charge coverage1 6.52 5.09 5.46 4.23 3.71
Benchmarks
Fixed Charge Coverage, Competitors2
Apple Inc. 20.17 25.65 26.13 16.34 14.48
Arista Networks Inc. 73.83 49.20 31.02 24.95 30.94
Cisco Systems Inc. 18.98 20.30 16.92 14.79 12.28
Super Micro Computer Inc. 40.95 24.03 12.52 10.45 7.48
Fixed Charge Coverage, Sector
Technology Hardware & Equipment 20.34 25.07 24.67 16.09 14.08
Fixed Charge Coverage, Industry
Information Technology 11.88 14.17 13.49 10.22 10.45

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
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 2,535 ÷ 389 = 6.52

2 Click competitor name to see calculations.

Solvency ratio Description The company
Fixed charge coverage ratio A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. Motorola Solutions Inc. fixed charge coverage ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.