Motorola Solutions, Inc. Financial Ratios — MSI Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	14.39	20.78	31.74	40.63	23.78	39.05	-19.15	126.94	75.68	80.08	100.36	101.08	406.9	129.95	104.74
Return on Assets (%)	5.86	6.62	8.96	11.66	6.5	6.66	-1.86	10.97	8.66	8.82	10.8	10.9	13.07	11.29	12.68
Return on Capital (%)	- -	16.1	- -	- -	14.16	18.39	-6.11	34.59	23.52	22.18	25.08	24.64	27.24	23.25	23.7
Return on Invested Capital (%)	- -	11.72	- -	- -	14.3	19.83	-5.69	34.21	30.89	22.22	24.15	23.81	26.1	27.21	21.92
Gross Margin (%)	50.54	50.95	49.93	48.14	47.74	47.52	47.4	47.39	49.84	48.66	49.44	46.41	49.81	50.96	51.66
EBITDA Margin (%)	16.64	17.26	18.87	19.3	21.42	24.08	25.44	23.21	25.7	24.59	26.37	23.96	27.21	27.97	28.97
Operating Margin (%)	12.18	14.85	16.33	16.36	18.79	19.2	20.06	18.3	20.7	19.07	21.01	19.13	23.64	24.86	25.33
Incremental Operating Margin (%)	38.05	3.52	-204.76	15.9	-58.06	25.95	35.38	6.65	53.12	46.3	40.03	2.76	71.13	39.33	31.21
Pretax Margin (%)	9	14.05	14.13	-19.74	16.1	13.98	16.87	15.01	12.69	15.83	18.99	16.63	21.51	18.23	24.07
Profit Margin (%)	14.12	14.05	17.65	22.09	10.71	9.27	-2.43	13.16	11.01	12.8	15.24	14.96	17.13	14.58	18.44
Net Income to Common Margin (%)	14.12	14.05	17.65	22.09	10.71	9.27	-2.43	13.16	11.01	12.8	15.24	14.96	17.13	14.58	18.44
Effective Tax Rate (%)	- -	23.95	- -	- -	29.88	33.41	114.03	12.07	12.99	18.82	19.46	9.77	20.13	19.78	23.19
Dvd Payout Ratio (%)	9.8	40.3	30.9	-45.76	42.88	49.65	-208.84	34.67	43.36	45.56	38.41	38.66	34.26	41.21	33.61
Sustainable Growth Rate (%)	12.98	12.41	21.94	59.22	13.58	19.66	-59.14	82.93	42.86	43.6	61.82	62	267.48	76.4	69.54

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	1,535	1,863	2,461	3,400	4,349	4,396	4,471	5,320	5,748	5,703	6,130	6,551	6,550	6,551	9,766
ST Debt	405	4	4	4	4	4	52	31	138	138	129	119	1,438	449	882
LT Debt	1,130	1,859	2,457	3,396	4,345	4,392	4,419	5,289	5,610	5,565	6,001	6,432	5,112	6,102	8,884
Total Debt/EBITDA	1.12	1.72	2.09	3	3.56	3.02	2.75	3.12	2.84	3.13	2.84	3	2.41	2.17	2.89
Net Debt/EBITDA	-0.25	0.37	-0.65	-0.49	1.94	2.36	2.01	2.38	2.04	2.15	1.77	2.15	1.59	1.29	2.36
Total Debt/EBIT	1.54	2	2.42	3.53	4.06	3.79	3.49	3.96	3.52	4.03	3.57	3.76	2.78	2.44	3.3
Net Debt/EBIT	-0.35	0.42	-0.75	-0.58	2.21	2.96	2.55	3.02	2.53	2.77	2.22	2.69	1.83	1.45	2.7
EBITDA to Interest Expense	10.34	10.02	8.9	7.72	6.56	6.46	7.55	7.1	8.55	7.82	10.02	9.1	10.9	10.25	9.4
EBITDA-CapEx/Interest Expense	10.34	10.02	8.9	7.72	6.56	6.46	7.55	7.1	8.55	7.82	10.02	9.1	10.9	10.25	9.4
EBIT to Interest Expense	7.57	8.62	7.7	6.54	5.75	5.15	5.95	5.6	6.89	6.07	7.99	7.26	9.47	9.12	8.22
Interest Expense	132	108	132	147	186	225	215	240	237	233	215	240	249	295	360
Common Equity/Total Assets	37.43	25.75	30.88	26.24	-1.27	-11.39	-21.22	-13.74	-6.58	-5.13	-0.33	0.91	5.43	11.67	12.43
Long-Term Debt/Equity (%)	21.43	56.5	66.6	122.78	- -	- -	- -	- -	- -	- -	- -	4,909.92	691.75	354.97	366.05
Long-Term Debt/Capital (%)	16.6	36.08	39.95	55.08	102.16	127.53	161.04	130.79	110.76	107.81	98.26	96.26	70.13	73.78	72.86
Long-Term Debt/Total Assets (%)	8.11	14.66	20.73	32.58	52.06	51.9	53.84	56.21	52.72	51.17	49.23	50.2	38.33	41.81	45.82
Total Debt/Equity (%)	29.11	56.63	66.71	122.92	-4,530.21	-461.76	-258.89	-416.93	-841.58	-1,054.16	-26,652.17	5,000.76	886.33	381.09	402.39
Total Debt/Capital (%)	22.54	36.15	40.02	55.14	102.26	127.64	162.94	131.55	113.48	110.48	100.38	98.04	89.86	79.21	80.1
Total Debt/Total Assets (%)	11.02	14.69	20.77	32.62	52.11	51.94	54.47	56.54	54.01	52.44	50.29	51.12	49.12	44.89	50.37
Net Debt to Equity	-6.56	12.01	-20.71	-20.03	-2,467.71	-360.19	-189.11	-318.42	-604.39	-724.77	-16,604.35	3,579.39	583.63	226.76	329.58
Net Debt/Capital (%)	-7.02	10.72	-26.12	-25.05	104.22	138.43	212.22	145.78	101.57	100.33	90.22	87.53	77.24	63.17	72.52
EBITDA	1,365	1,082	1,175	1,135	1,220	1,454	1,623	1,704	2,027	1,823	2,155	2,183	2,715	3,025	3,384
EBITDA-CapEx	1,365	1,082	1,175	1,135	1,220	1,454	1,623	1,704	2,027	1,823	2,155	2,183	2,715	3,025	3,384
Operating Income (Loss)	999	931	1,017	962	1,070	1,159	1,280	1,344	1,633	1,414	1,717	1,743	2,359	2,689	2,959

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	1.33	1.08	1	1.76	1.1	0.38	0.41	0.41	0.29	0.36	0.46	0.29	0.3	0.42	0.19
Current Ratio	2.3	2.22	2.18	3.06	2.11	1.3	1.35	1.38	1.21	1.24	1.33	1.15	1	1.28	1.04
Quick Ratio	1.93	1.8	1.59	2.64	1.91	1.12	1.15	1.2	1.03	1.04	1.09	0.85	0.8	1.05	0.82
CFO/Avg Current Liab	0.14	0.3	0.29	-0.2	0.46	0.48	0.48	0.36	0.56	0.47	0.49	0.42	0.4	0.44	0.51
Common Equity/Total Assets	37.43	25.75	30.88	26.24	-1.27	-11.39	-21.22	-13.74	-6.58	-5.13	-0.33	0.91	5.43	11.67	12.43
Long-Term Debt/Equity (%)	21.43	56.5	66.6	122.78	- -	- -	- -	- -	- -	- -	- -	4,909.92	691.75	354.97	366.05
Long-Term Debt/Capital (%)	16.6	36.08	39.95	55.08	102.16	127.53	161.04	130.79	110.76	107.81	98.26	96.26	70.13	73.78	72.86
Long-Term Debt/Total Assets (%)	8.11	14.66	20.73	32.58	52.06	51.9	53.84	56.21	52.72	51.17	49.23	50.2	38.33	41.81	45.82
Total Debt/Equity (%)	29.11	56.63	66.71	122.92	-4,530.21	-461.76	-258.89	-416.93	-841.58	-1,054.16	-26,652.17	5,000.76	886.33	381.09	402.39
Total Debt/Capital (%)	22.54	36.15	40.02	55.14	102.26	127.64	162.94	131.55	113.48	110.48	100.38	98.04	89.86	79.21	80.1
Total Debt/Total Assets (%)	11.02	14.69	20.77	32.62	52.11	51.94	54.47	56.54	54.01	52.44	50.29	51.12	49.12	44.89	50.37
CFO/Total Liabilities	10.1	11.4	11.57	-7.08	12.09	12.37	13.55	10.06	16.1	14.13	15.04	14.37	16.23	18.57	16.73
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	2.54	2.47	2.79	3.09	2.69	2.67	2.83	3.26	3.65	3.49	4.29	4.2	4.79	6.11	4.91

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	3.2	3.35	3.83	4.23	4.11	4.36	4.35	5.22	5.83	5.29	5.89	6.28	6.18	5.91	5.63
Days Sales Outstanding	114.22	109.08	95.25	86.21	88.8	83.78	83.9	69.99	62.59	68.97	62	58.16	59.04	61.78	64.86
Inventory Turnover	4.33	6	7.25	8.82	9.29	11.14	11.19	11.31	9.85	7.97	6.38	5.3	5.32	6.66	6.46
Days Inventory Outstanding	84.39	60.83	50.34	41.41	39.31	32.77	32.63	32.27	37.04	45.79	57.25	68.88	68.58	54.8	56.52
Accounts Payable Turnover	2.04	4.45	4.58	4.86	4.42	4.54	4.62	5.12	5.2	4.97	4.74	4.49	4.29	4.77	4.68
Accounts Payable Turnover Days	178.74	81.99	79.63	75.08	82.55	80.4	79.05	71.32	70.17	73.39	77.04	81.26	85.06	76.53	77.99
Cash Conversion Cycle	19.87	87.92	65.96	52.53	45.56	36.15	37.48	30.93	29.47	41.38	42.22	45.79	42.56	40.06	43.4
Inventory to Cash Days	29.83	48.25	44.91	44.8	49.49	51.02	51.27	37.72	25.55	23.18	4.75	-10.72	-9.54	6.98	8.34
Inventories	512	513	347	345	296	273	327	356	447	508	788	1,055	827	766	983
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	363	432	315	313	287	253	282	293	374	360	643	829	640	498	644
Finished Goods	319	244	157	163	151	151	178	206	209	271	268	354	328	396	455
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	14,757	15,373	17,179	14,744	11,931	13,652	14,563	18,809	27,474	28,808	45,836	43,166	52,036	77,239	63,516
- Cash & Cash Equivalents	1,881	1,468	3,225	3,954	1,980	967	1,205	1,257	1,001	1,254	1,874	1,325	1,705	2,099	1,163
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	60	25	30	31	10	12	15	17	17	17	17	15	15	16	17
+ Total Debt	1,535	1,863	2,461	3,400	4,349	4,396	4,471	5,320	5,748	5,703	6,130	6,551	6,550	6,551	9,766
Enterprise Value	11,261	13,658	16,443	14,221	13,872	17,047	17,844	22,889	32,238	33,274	50,109	48,407	56,896	81,707	72,136
Total Capital	6,809	5,153	6,150	6,166	4,253	3,444	2,744	4,044	5,065	5,162	6,107	6,682	7,289	8,270	12,193
Total Debt/Capital (%)	22.54	36.15	40.02	55.14	102.26	127.64	162.94	131.55	113.48	110.48	100.38	98.04	89.86	79.21	80.1
Total Debt / EV	0.14	0.14	0.15	0.24	0.31	0.26	0.25	0.23	0.18	0.17	0.12	0.14	0.12	0.08	0.14
EV/Sales	1.37	2.18	2.64	2.42	2.44	2.82	2.8	3.12	4.09	4.49	6.13	5.31	5.7	7.55	6.17
EV/EBITDA	8.25	12.62	13.99	12.53	11.37	11.72	10.99	13.43	15.9	18.25	23.25	22.17	20.96	27.01	21.32
EV/EBIT	11.27	14.67	16.17	14.78	12.96	14.71	13.94	17.03	19.74	23.53	29.18	27.77	24.12	30.39	24.38
EV/Cash Flow to Firm	11.19	11.85	15.16	- -	12.05	12.97	13.56	17.8	15.89	18.46	24.93	23.73	25.37	31.09	23.17
EV/Free Cash Flow to Firm	11.19	11.85	15.16	- -	12.05	12.97	13.56	17.8	15.89	18.46	24.93	23.73	25.37	31.09	23.17
Diluted Market Cap	15,725	16,559	18,259	16,475	13,813	14,348	14,716	19,787	28,296	29,607	47,167	44,300	53,883	78,949	64,781
Diluted Enterprise Value	15,439	16,979	17,525	15,952	16,192	17,789	17,997	23,867	33,060	34,073	51,440	49,541	58,743	83,417	73,401
EV per Share	35.32	49.47	64.61	64.7	79.59	103.5	110.69	139.99	189.08	196.42	297.03	289	342.33	488.97	435.34
TTM Sales	8,203	6,269	6,227	5,881	5,695	6,038	6,380	7,343	7,887	7,414	8,171	9,112	9,978	10,817	11,682
TTM EBITDA	1,365	1,082	1,175	1,135	1,220	1,454	1,623	1,704	2,027	1,823	2,155	2,183	2,715	3,025	3,384
TTM Operating Income	999	931	1,017	962	1,070	1,159	1,280	1,344	1,633	1,414	1,717	1,743	2,359	2,689	2,959
TTM Cash Flow to Firm	1,007	1,152	1,085	-454	1,151	1,315	1,316	1,286	2,029	1,802	2,010	2,040	2,243	2,628	3,114
TTM Free Cash Flow to Firm	1,007	1,152	1,085	-454	1,151	1,315	1,316	1,286	2,029	1,802	2,010	2,040	2,243	2,628	3,114

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	17.99	15.48	19.34	-30.4	13.53	12.32	10.93	18.41	15.52	18.36	25.68	24.3	26.36	33.02	22.83
EV/EBIT	11.27	14.67	16.17	14.78	12.96	14.71	13.94	17.03	19.74	23.53	29.18	27.77	24.12	30.39	24.38
Enterprise Value	11,261	13,658	16,443	14,221	13,872	17,047	17,844	22,889	32,238	33,274	50,109	48,407	56,896	81,707	72,136
Low Price	36.32	44.18	53.28	57.79	56.4	59.13	76.92	89.18	110.61	120.77	165.6	195.18	251	307.31	359.36
EV/Sales	1.37	2.18	2.64	2.42	2.44	2.82	2.8	3.12	4.09	4.49	6.13	5.31	5.7	7.55	6.17
EV/EBITDA	8.25	12.62	13.99	12.53	11.37	11.72	10.99	13.43	15.9	18.25	23.25	22.17	20.96	27.01	21.32
Price/Earnings	13.34	18.46	16.34	12.68	22.4	25.1	- -	19.34	30.93	30.46	36.93	31.67	30.59	48.89	29.65
Price/Earnings Average	12.5	16.45	14.53	12.18	21.17	21.99	-90.72	19.36	29.65	27.9	29.35	28.78	27.8	41.91	33.19
Price/Earnings High	13.81	18.49	16.38	12.92	23.88	26.52	-100.16	22.52	34.99	33.59	37.19	33.81	32.23	53.71	38.07
Price/Earnings Low	10.47	14.65	12.9	10.93	18.45	17.91	-80.84	14.99	21.23	21.63	22.51	23.99	24.53	32.5	27.79
Price/Book Value	2.83	4.71	4.69	5.39	-112.56	-14.16	-8.36	-14.55	-39.25	-51.63	-1,145.89	372.12	71.87	45.35	26.36
Price/Book Value Average	2.65	4.19	4.18	5.18	-106.38	-12.4	-7.99	-14.56	-37.63	-47.27	-910.96	338.13	65.31	38.88	29.5
Price/Book Value High	2.93	4.72	4.71	5.49	-119.99	-14.96	-8.82	-16.94	-44.4	-56.92	-1,154.12	397.32	75.72	49.83	33.84
Price/Book Value Low	2.22	3.74	3.71	4.64	-92.74	-10.1	-7.12	-11.28	-26.94	-36.66	-698.42	281.83	57.62	30.15	24.71
Price/Tangible Book Value	3.95	9.34	5.22	6.33	-20.75	-5.43	-4.11	-4.66	-6.71	-7.18	-12.35	-9.51	-13.23	-25.14	-8.48
Price/Tangible Book Value Average	3.7	8.32	4.64	6.08	-19.61	-4.76	-3.93	-4.66	-6.43	-6.58	-9.82	-8.64	-12.03	-21.56	-9.49
Price/Tangible Book Value High	4.09	9.35	5.23	6.45	-22.12	-5.74	-4.34	-5.43	-7.59	-7.92	-12.44	-10.16	-13.94	-27.62	-10.88
Price/Tangible Book Value Low	3.1	7.41	4.12	5.45	-17.1	-3.88	-3.5	-3.61	-4.61	-5.1	-7.53	-7.2	-10.61	-16.72	-7.95
Price/Sales	1.88	2.59	2.88	2.8	2.4	2.33	2.31	2.54	3.4	3.9	5.63	4.74	5.24	7.13	5.47
Price/Sales Average	1.76	2.31	2.56	2.69	2.27	2.04	2.2	2.55	3.26	3.57	4.47	4.3	4.76	6.11	6.12
Price/Sales High	1.95	2.6	2.89	2.85	2.56	2.46	2.43	2.96	3.85	4.3	5.67	5.06	5.52	7.83	7.02
Price/Sales Low	1.48	2.06	2.28	2.41	1.98	1.66	1.96	1.97	2.34	2.77	3.43	3.59	4.2	4.74	5.12
Price/Cash Flow	17.68	15.2	19.02	-30.4	13.38	12.07	10.93	17.38	14.73	17.92	25.03	23.68	25.58	32.25	22.51
Price/Cash Flow Average	16.56	13.54	16.92	-29.2	12.65	10.57	10.45	17.39	14.12	16.41	19.89	21.52	23.25	27.65	25.2
Price/Cash Flow High	18.3	15.22	19.07	-30.96	14.27	12.75	11.53	20.24	16.66	19.76	25.2	25.28	26.95	35.43	28.91
Price/Cash Flow Low	13.87	12.06	15.01	-26.19	11.03	8.61	9.31	13.47	10.11	12.73	15.25	17.93	20.51	21.44	21.1
Price/Free Cash Flow Average	16.85	13.79	17.21	-29.2	12.79	10.79	10.45	18.42	14.88	16.81	20.41	22.08	23.96	28.31	25.56
Price/Free Cash Flow High	18.62	15.5	19.39	-30.96	14.42	13.01	11.53	21.44	17.56	20.24	25.86	25.95	27.77	36.28	29.32
Price/Free Cash Flow Low	14.12	12.28	15.27	-26.19	11.15	8.79	9.31	14.27	10.65	13.04	15.65	18.4	21.13	21.95	21.41
EV/Sales Average	1.65	2.25	2.34	2.32	2.4	2.55	2.7	3.12	3.94	4.16	4.98	4.88	5.23	6.53	6.82
EV/Sales High	1.83	2.52	2.65	2.46	2.65	2.96	2.92	3.54	4.54	4.89	6.17	5.63	5.98	8.26	7.72
EV/Sales Low	1.38	2.01	2.06	2.07	2.14	2.18	2.46	2.54	3	3.36	3.94	4.16	4.67	5.16	5.84
EV/EBITDA Average	9.92	13.05	12.38	12.02	11.19	10.59	10.59	13.44	15.34	16.92	18.89	20.37	19.21	23.37	23.56
EV/EBITDA High	10.98	14.62	14.03	12.77	12.38	12.28	11.49	15.25	17.68	19.87	23.4	23.51	21.98	29.53	26.65
EV/EBITDA Low	8.27	11.66	10.92	10.73	10.01	9.06	9.66	10.95	11.65	13.67	14.95	17.38	17.16	18.45	20.14
EV/EBIT Average	13.55	15.16	14.3	14.18	12.76	13.29	13.43	17.04	19.05	21.81	23.71	25.51	22.11	26.29	26.94
EV/EBIT High	15	16.99	16.21	15.07	14.11	15.41	14.57	19.33	21.95	25.62	29.38	29.45	25.3	33.22	30.48
EV/EBIT Low	11.3	13.55	12.61	12.66	11.41	11.37	12.25	13.88	14.47	17.63	18.76	21.76	19.74	20.76	23.04
Last Price	46.29	55.68	67.5	67.08	68.45	82.89	90.34	115.04	161.14	170.06	271.7	257.71	313.09	462.23	383.32
High Price	47.91	55.77	67.67	68.33	72.97	87.55	95.3	133.97	182.28	187.49	273.65	275.16	329.83	507.82	492.22
Enterprise Value Average	13,536	14,115	14,547	13,642	13,655	15,398	17,195	22,906	31,104	30,845	40,712	44,464	52,147	70,686	79,717
Enterprise Value High	14,988	15,818	16,488	14,496	15,098	17,860	18,643	25,984	35,843	36,227	50,438	51,330	59,678	89,325	90,181
Enterprise Value Low	11,293	12,618	12,826	12,179	12,210	13,180	15,681	18,661	23,623	24,924	32,210	37,934	46,576	55,820	68,166

Shares Outstanding	319	276	254	220	174	165	161	164	170	169	169	168	166	167	166
Diluted Weighted Avg Shares	340	297	270	246	202	173	163	172	176	174	174	172	172	171	169
Basic Weighted Avg Shares	334	292	266	246	200	170	163	162	167	170	169	168	167	167	167
Revenue per Share	24.57	21.46	23.41	23.95	28.53	35.6	39.17	45.22	47.34	43.61	48.29	54.4	59.75	64.85	70.12
EBITDA per Share	4.09	3.7	4.42	4.62	6.11	8.57	9.96	10.49	12.17	10.72	12.74	13.03	16.26	18.14	20.31
Operating Income per Share	2.99	3.19	3.82	3.92	5.36	6.83	7.86	8.28	9.8	8.32	10.15	10.41	14.13	16.12	17.76
Basic EPS, GAAP	3.47	3.02	4.13	5.29	3.06	3.3	-0.95	5.95	5.21	5.58	7.36	8.14	10.23	9.45	12.93
Basic EPS from Cont Ops	2.22	2.29	3.53	-2.83	3.22	3.31	-0.93	5.97	5.23	5.61	7.39	8.16	10.26	9.48	12.97
Diluted EPS, GAAP	3.41	2.96	4.06	5.29	3.02	3.24	-0.95	5.62	4.94	5.45	7.17	7.93	9.93	9.23	12.75
Diluted EPS from Cont Ops	2.18	2.25	3.47	-2.83	3.19	3.25	-0.93	5.63	4.96	5.47	7.2	7.95	9.96	9.26	12.78
Dividend per Share	0.22	0.92	1.1	1.29	1.39	1.65	1.88	2.08	2.27	2.56	2.85	3.16	3.53	3.92	4.37
Cash Flow per Share	2.62	3.66	3.55	-2.21	5.12	6.87	8.26	6.62	10.94	9.49	10.86	10.88	12.24	14.33	17.03
Free Cash Flow per Basic Share	2.62	3.66	3.55	-2.21	5.12	6.87	8.26	6.62	10.94	9.49	10.86	10.88	12.24	14.33	17.03
Cash & Equivalents per Share	15.97	13.05	12.68	17.99	13.87	6.15	7.48	7.69	5.87	7.4	11.11	7.91	10.26	12.56	7.02
Book Value per Share	16.36	11.83	14.38	12.44	-0.61	-5.85	-10.81	-7.91	-4.11	-3.29	-0.24	0.69	4.36	10.19	14.54
Tangible Book Value per Share	11.73	5.96	12.94	10.6	-3.3	-15.26	-21.97	-24.69	-24.01	-23.68	-21.99	-27.09	-23.66	-18.38	-45.23

Motorola Solutions, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)