Motorola Solutions Inc
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+ FollowMarket Cap$84.44B
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Earnings Call Q3 2026
November 4, 2026 - AI Summary
Strong Q3 performance; beats guidance; margin expansion
- Revenue +12% YoY, above guidance, with double-digit growth in both segments and all 3 technologies.
- EPS (GAAP) $3.06, Non-GAAP EPS $4.69 (+16% YoY).
- Operating margin (Non-GAAP) 32.5% (+200 bps YoY), driven by operating leverage (partly offset by higher supply chain costs).
- GAAP operating earnings down to 23% of sales largely due to a Silvus earn-out noncash charge ($87M; ~$0.52 EPS impact).
Demand & visibility: record orders and backlog
- Record Q3 orders; ending backlog $16.6B (all-time record), +14% YoY and +~$1B sequentially.
- Backlog growth was broad-based across all 3 technologies, with the biggest sequential lift tied to Mission Critical Networks (MCN) (including Silvus + LMR demand).
- Management emphasized the backlog supports strong multiyear visibility.
Capital returns & cash generation
- Q3 operating cash flow $662M; free cash flow $589M.
- YTD operating cash flow ~ $1.6B (with investments in inventory).
- Raising operating cash flow guidance by $50M to ~$3.05B for the year.
- Q3 shareholder returns: $200M dividends, $94M share repurchases; Board also approved +$2B increase to the repurchase program.
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$394.01
26.4% downside
Current Fair Value
26.4% downsideOvervalued by 26.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $84.44 Billion |
|---|---|
| Enterprise Value | $95.69 Billion |
| Annual dividend | $4.84 |
| Dividend yield | 0.94% |
| Earnings per Share | $12.93 |
| Beta | 0.87 |
| Outstanding Shares | 165,500,000 |
Return
| Return on Equity | 79.94% |
|---|---|
| Return on Assets | 11.10% |
| Return on Invested Capital | 21.22% |
Valuation & Multiples
| P/E Ratio | 40.96 |
|---|---|
| PEG | 477.61 |
| Price to Sales | 7.33 |
| Price to Book Ratio | 33.46 |
| Enterprise Value to Revenue | 7.82 |
| Enterprise Value to EBIT | 33.01 |
| Enterprise Value to Net Income | 44 |
| Total Debt to Enterprise | 0.12 |
| Debt to Equity | 4.48 |
Revenue Sources
No data
Last Earnings Call
Report Date
November 4, 2026
EPS
$4.69
Est. $4.42Revenue
$3.38 B
Est. $3.26 BNext Earnings Call
Expected Date
February 10, 2027
EPS Estimate
$5.49
Consensus analyst estimateRevenue Estimate
$3.82 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 188.50, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 188.5000▲ 18726.80% |
|---|---|
| Total Calls | 1,600▼ 99.61% |
| Total Puts | 301,600▼ 40.73% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 15.31%▼ 74.21% |
|---|---|
| Total Invested | $11.28B▼ 81.72% |
| Investors Holding | 807▼ 703.00% |
About Motorola Solutions Inc
23,000 employees
CEO: Gregory Brown
Motorola Solutions, Inc. delivers vital communication and analytical technologies to clients across the United States, United Kingdom, Canada, and other international markets. The company operates through two main divisions: Products and...