Motorola Solutions, Inc. (MSI) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 451M | 1.26B | 798M | 273M | 510M | 1.07B | 759M | 180M | 382M | 1.25B | 714M | 93M | -8M | 1.27B | 388M | 10M | 152M | 703M | 376M | 388M |
| Operating CF Margin % | 16.62% | 37.16% | 26.52% | 9.87% | 20.17% | 35.54% | 27.2% | 6.85% | 15.99% | 43.7% | 27.93% | 3.87% | -0.37% | 47.03% | 16.35% | 0.47% | 8.03% | 30.3% | 17.85% | 19.69% |
| Operating CF Growth % | -11.57% | 17.38% | 5.14% | 51.67% | 33.51% | -14.06% | 6.3% | 93.55% | 4875% | -2.2% | 84.02% | 830% | -105.26% | 81.08% | 3.19% | -97.42% | -58.92% | 0% | -4.08% | 85.65% |
| Net Income | 368M | 650M | 562M | 515M | 432M | 610M | 563M | 443M | -39M | 595M | 465M | 373M | 278M | 590M | 280M | 229M | 268M | 402M | 308M | 295M |
| Depreciation & Amortization | 143M | 143M | 115M | 86M | 81M | 87M | 72M | 95M | 83M | 111M | 86M | 87M | 98M | 109M | 108M | 112M | 111M | 113M | 105M | 110M |
| Stock-Based Compensation | 100M | 80M | 73M | 74M | 66M | 63M | 61M | 63M | 56M | 52M | 52M | 53M | 55M | 46M | 45M | 44M | 37M | 35M | 34M | 31M |
| Deferred Taxes | 0 | -1M | 78M | 0 | 0 | 0 | 0 | 11M | -181M | -30M | 1M | -102M | 0 | -122M | -91M | 58M | -179M | 32M | 25M | -24M |
| Other Non-Cash Items | 83M | 8M | 2M | -12M | 7M | -55M | 9M | 2M | 589M | 6M | 12M | 91M | -547M | 337M | 147M | 23M | 179M | 8M | 18M | 1M |
| Working Capital Changes | -243M | 376M | -32M | -390M | -76M | 365M | 54M | -434M | -126M | 511M | 98M | -409M | 108M | 313M | -101M | -456M | -264M | 113M | -114M | -25M |
| Change in Receivables | 155M | -174M | -128M | -68M | 197M | -125M | -64M | -170M | 113M | -26M | -164M | -169M | 139M | -117M | -101M | -142M | 248M | -186M | -32M | -77M |
| Change in Inventory | -199M | -38M | -23M | -22M | -62M | 41M | -8M | 36M | -7M | 106M | 58M | 62M | -26M | 118M | -83M | -115M | -162M | -185M | -46M | -29M |
| Change in Payables | -290M | 560M | 175M | -280M | -175M | 427M | 206M | -241M | -90M | 390M | 217M | -215M | 0 | 634M | 116M | -111M | -188M | 617M | 259M | 128M |
| Cash from Investing | -183M | -192M | -4.43B | -60M | -477M | -107M | -282M | -71M | -47M | -242M | -61M | -58M | -53M | -652M | -62M | -116M | -557M | -217M | -411M | -62M |
| Capital Expenditures | -62M | -114M | -66M | -48M | -37M | -86M | -57M | -68M | -46M | -81M | -65M | -53M | -54M | -73M | -70M | -59M | -54M | -68M | -61M | -62M |
| CapEx % of Revenue | 2.28% | 3.37% | 2.19% | 1.74% | 1.46% | 2.86% | 2.04% | 2.59% | 1.93% | 2.84% | 2.54% | 2.21% | 2.49% | 2.7% | 2.95% | 2.76% | 2.85% | 2.93% | 2.9% | 3.15% |
| Acquisitions | 1M | 0 | 464M | -14M | -450M | -22M | -226M | -5M | -37M | -12M | -2M | -6M | -4M | -587M | -19M | -59M | -512M | -161M | -351M | -7M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | -81M | -464M | 0 | 0 | 1M | 1M | 5M | 0 | 12M | -65M | -53M | 5M | -1.25B | -18M | -59M | -510M | -588M | -61M | 6M |
| Cash from Financing | -525M | -801M | 1.33B | 1.38B | -597M | -214M | -491M | -231M | -512M | -252M | -414M | -366M | -263M | -202M | -140M | 13M | -577M | -250M | -209M | 286M |
| Debt Issued (Net) | -200M | -179M | 1.6B | 1.73B | 0 | 618M | -313M | 0 | -305M | 0 | 0 | -1M | 0 | -2M | 0 | 314M | -2M | 5M | -3M | 499M |
| Equity Issued (Net) | -124M | -441M | -87M | -165M | -415M | -50M | -13M | -65M | -44M | -106M | -266M | -214M | -114M | -68M | -8M | -163M | -441M | -128M | -86M | -102M |
| Dividends Paid | -201M | -182M | -182M | -182M | -182M | -164M | -164M | -163M | -163M | -146M | -147M | -148M | -148M | -132M | -132M | -132M | -134M | -120M | -120M | -121M |
| Share Repurchases | -118M | -490M | -84M | -255M | -325M | -106M | -31M | -71M | -39M | -134M | -306M | -224M | -140M | -87M | -94M | -162M | -493M | -131M | -125M | -102M |
| Other Financing | 0 | 1M | -1M | -9M | 0 | -618M | -1M | -3M | 0 | 0 | -1M | -4M | -1M | 0 | 0 | -6M | 0 | -7M | 0 | 10M |
| Net Change in Cash | -279M | 271M | -2.31B | 1.64B | -538M | 698M | 23M | -131M | -193M | 795M | 200M | -312M | -303M | 503M | 105M | -161M | -996M | 221M | -268M | 601M |
| Free Cash Flow | 389M | 1.14B | 732M | 225M | 473M | 984M | 702M | 112M | 336M | 1.16B | 649M | 40M | -62M | 1.2B | 318M | -49M | 98M | 635M | 315M | 326M |
| FCF Margin % | 14.33% | 33.79% | 24.33% | 8.14% | 18.71% | 32.68% | 25.16% | 4.26% | 14.06% | 40.86% | 25.39% | 1.66% | -2.86% | 44.33% | 13.4% | -2.29% | 5.18% | 27.37% | 14.95% | 16.54% |
| FCF Growth % | -17.76% | 16.06% | 4.27% | 100.89% | 40.77% | -15.46% | 8.17% | 180% | 641.94% | -3% | 104.09% | 181.63% | -163.27% | 88.98% | 0.95% | -115.03% | -69.18% | -0.31% | -8.16% | 110.32% |
| FCF per Share | 2.32 | 6.79 | 4.33 | 1.33 | 2.79 | 5.76 | 4.11 | 0.66 | 2.02 | 6.79 | 3.78 | 0.23 | -0.36 | 6.98 | 1.85 | -0.29 | 0.57 | 3.65 | 1.81 | 1.88 |
| FCF Conversion (FCF/Net Income) | 1.23x | 1.94x | 1.42x | 0.53x | 1.19x | 1.75x | 1.35x | 0.41x | -9.79x | 2.09x | 1.54x | 0.25x | -0.03x | 2.16x | 1.39x | 0.04x | 0.57x | 1.75x | 1.22x | 1.32x |
| Interest Paid | 0 | 119M | 31M | 106M | 29M | 110M | 36M | 71M | 36M | 69M | 48M | 70M | 47M | 69M | 48M | 56M | 53M | 52M | 53M | 43M |
| Taxes Paid | 0 | 156M | 98M | 276M | 39M | 174M | 103M | 324M | 26M | 110M | 72M | 305M | 100M | 37M | 69M | 168M | 33M | 27M | 51M | 101M |