Motorola Solutions (MSI) Investor presentation summary

Business overview and market opportunity

• Operates a technology ecosystem for public safety, defense, and enterprise security with a $83B total addressable market as of 2026, spanning video security, mission critical networks, and command center solutions.

• Nearly half of revenue is now generated from video, software, unmanned systems, and recurring services, reflecting a significant portfolio transformation since 2015.

• Serves public safety agencies, defense, and enterprises, with 75% of revenue from public safety and defense and 72% of revenue from North America.

• Video security and access control, mission critical networks, and command center technologies are core segments, each with substantial growth and monetization opportunities.

Financial performance and guidance

• Achieved $11.7B in 2025 revenue, with 38% from software and services, primarily recurring.

• Non-GAAP EPS grew at a 17% CAGR and free cash flow at a 12% CAGR since 2015.

• 2026 guidance projects ~$12.7B in revenue, $16.70–$16.85 non-GAAP EPS, and ~$3.0B in operating cash flow.

• Maintains strong cash flows, consistent revenue growth, and ongoing margin expansion, supporting acquisitions and share repurchases.

Capital allocation and acquisitions

• Over $11B invested in strategic acquisitions since 2015, contributing over $4B in estimated 2026 revenue and ~$1B in adjusted EBITDA.

• Reduced outstanding shares by 51% since 2011 and repurchased ~$9.1B in shares since 2015.

• Capital allocation framework prioritizes share repurchases, acquisitions, dividends, and capex, with a 10% capex, 60% dividends, and 30% share repurchases/acquisitions split.