Stock Analysis on Net
Stock Analysis on Net

Motorola Solutions Inc. (NYSE:MSI)

This company has been moved to the archive! The financial data has not been updated since August 1, 2024.

Analysis of Revenues 

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Revenues as Reported

Motorola Solutions Inc., income statement, revenues

US$ in millions

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12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
LMR Communications 7,526 6,987 6,408 6,000 6,721
Video 1,726 1,523 1,226 927 709
Command Center 726 602 537 487 457
Net sales 9,978 9,112 8,171 7,414 7,887

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

Revenue Trends for LMR Communications
The LMR Communications segment experienced fluctuations over the observed period. Revenue decreased from 6,721 million USD in 2019 to 6,000 million USD in 2020, indicating a contraction of approximately 10.7%. This was followed by a recovery in 2021 to 6,408 million USD and a continued upward trend, culminating in 7,526 million USD by 2023. Overall, the segment shows resilience with a net increase from 2019 to 2023.
Growth in Video Segment
Video segment revenue exhibited a consistent and robust growth pattern throughout the period. Starting at 709 million USD in 2019, the revenue increased annually, reaching 927 million USD in 2020, 1,226 million USD in 2021, 1,523 million USD in 2022, and finally 1,726 million USD in 2023. This represents a compound annual growth rate (CAGR) of approximately 26.7%, highlighting the segment's strong expansion within the company's portfolio.
Performance of Command Center Segment
The Command Center segment showed steady revenue growth across the five years. Beginning at 457 million USD in 2019, the segment's revenue rose each year reaching 487 million USD in 2020, 537 million USD in 2021, 602 million USD in 2022, and 726 million USD in 2023. This reflects a consistent upward trajectory with a total increase of approximately 58.9% over the period.
Overall Net Sales Analysis
The overall net sales demonstrated a generally positive growth trend despite minor fluctuations. Net sales decreased slightly from 7,887 million USD in 2019 to 7,414 million USD in 2020, likely impacted by external factors. From 2021 onward, net sales increased steadily—8,171 million USD in 2021, 9,112 million USD in 2022, and reaching 9,978 million USD in 2023. The data indicate recovery and expansion, with a total net sales growth of approximately 26.6% over the five-year timeframe.
Summary Insights
The data reflect a period of initial contraction in 2020 across most segments, possibly due to adverse market or economic conditions during that year. While the LMR Communications segment showed some volatility, it eventually recovered and grew by 2023. Both Video and Command Center segments exhibited robust consistent growth, suggesting areas of increasing strategic focus. The overall net sales trend corroborates these segment performances, showing substantial recovery and growth post-2020, signaling positive momentum in the company's revenue streams.