Motorola Solutions (MSI) Investor presentation summary

Business overview and market opportunity

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

• Half of revenue now comes from high-growth areas: video, software, unmanned systems, and recurring services, with cloud, SaaS, and AI revenue expanding rapidly.

• Serves public safety agencies, defense, and enterprises, with 75% of revenue from public safety and defense and 25% from enterprise customers.

• 72% of revenue is generated in North America, with the remainder from international markets.

Financial performance and guidance

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

• Non-GAAP EPS has grown at a 17% CAGR since 2015, and free cash flow at a 12% CAGR over the same period.

• 2026 guidance projects revenue of ~$12.98B, non-GAAP EPS of $17.62–$17.72, and $3B in operating cash flow.

• Maintains a strong balance sheet with ~$2.96B in liquidity and a net debt to adjusted EBITDA ratio of ~2.0x.

Segment and technology highlights

• Video Security & Access Control: $2.1B in 2025 revenue, double-digit growth, with over 5.5M fixed cameras deployed and 90%+ of portfolio featuring embedded AI.

• Mission Critical Networks: $8.6B in 2025 revenue, serving 13K+ LMR networks globally, with recurring services and device refresh cycles every 7–8 years.

• Command Center: $0.9B in 2025 revenue, double-digit growth, with ~60% of US 911 centers using at least one software solution.