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.

Common-Size Balance Sheet: Assets 

Motorola Solutions Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash and cash equivalents 12.78 10.34 15.37 11.53 9.41
Accounts receivable, net 12.82 11.85 11.37 12.78 13.27
Contract assets 8.26 7.60 9.07 8.58 9.83
Inventories, net 6.20 8.23 6.46 4.67 4.20
Current contract cost assets 0.42 0.48 0.25 0.21 0.23
Contractor receivables 0.30 0.37 0.06 0.00 0.00
Tax-related deposits 0.24 0.26 0.34 0.48 0.72
Other 1.72 1.89 1.48 1.54 1.61
Other current assets 2.68% 2.99% 2.12% 2.23% 2.56%
Current assets held for disposition 0.18 0.00 0.00 0.00 0.00
Current assets 42.93% 41.01% 44.40% 39.78% 39.26%
Property, plant and equipment, net 7.23 7.23 8.55 9.40 9.32
Right-of-use operating lease assets 3.71 3.78 3.13 4.30 5.21
Common stock 0.21 0.16 0.57 0.17 0.23
Strategic investments, at cost 0.21 0.35 0.29 0.42 0.38
Company-owned life insurance policies 0.55 0.54 0.66 0.71 0.70
Equity method investments 0.10 0.09 0.20 0.15 0.19
Investments 1.07% 1.15% 1.71% 1.45% 1.49%
Deferred income taxes 7.96 8.08 7.51 8.88 8.86
Goodwill 25.50 25.85 21.04 20.40 19.42
Intangible assets, net 9.41 10.47 9.07 11.35 12.47
Defined benefit plan assets 0.73 1.28 2.99 2.60 2.10
Non-current contract cost assets 0.89 1.01 1.02 0.97 1.01
Other 0.43 0.12 0.57 0.86 0.86
Other assets 2.05% 2.42% 4.58% 4.43% 3.97%
Non-current assets held for disposition 0.13 0.00 0.00 0.00 0.00
Non-current assets 57.07% 58.99% 55.60% 60.22% 60.74%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and cash equivalents
There was an overall increase from 9.41% in 2019 to a peak of 15.37% in 2021, followed by a decline to 10.34% in 2022 and a moderate recovery to 12.78% in 2023. This indicates some fluctuations in liquidity with a notable peak in 2021.
Accounts receivable, net
A gradual decline was observed from 13.27% in 2019 to 11.37% in 2021, with a slight increase to 12.82% by 2023. This suggests improving collection efficiency initially, with some stabilization or modest growth afterward.
Contract assets
Contract assets as a percentage of total assets showed a fluctuating downward trend from 9.83% in 2019 to 7.6% in 2022, rebounding somewhat to 8.26% in 2023, indicating variability but overall moderate reduction.
Inventories, net
Inventories increased steadily from 4.2% to 8.23% between 2019 and 2022, then decreased to 6.2% in 2023. The rise suggests accumulation or build-up of inventory over several years, followed by partial reduction.
Current contract cost assets and Contractor receivables
Current contract cost assets remained relatively low with slight increases over time, while contractor receivables appeared only from 2021 onwards, peaking at 0.37% in 2022 and slightly decreasing to 0.3% in 2023, indicating emerging recognition of such assets.
Tax-related deposits
These have steadily decreased from 0.72% to 0.24%, indicating a declining proportion of total assets held in tax-related deposits.
Other current assets
A small dip occurred between 2019 and 2021, followed by an increase peaking in 2022 at 2.99%, then a minor decrease to 2.68% in 2023, showing some variability but relatively stable levels.
Current assets
The proportion increased from 39.26% in 2019 to a high of 44.4% in 2021, then decreased to 41.01% in 2022 and slightly rose to 42.93% in 2023, indicating overall sustained current asset levels with some fluctuation.
Property, plant and equipment, net
A gradual decline over the years is evident, from 9.32% in 2019 to 7.23% in 2022 and 2023, indicating a reduction in fixed assets relative to total assets.
Right-of-use operating lease assets
These assets declined from 5.21% in 2019 to 3.13% in 2021, then slightly increased to around 3.7% in subsequent years, suggesting initial reduction followed by stabilization.
Common stock
Common stock as a percentage of total assets fluctuated modestly without a clear trend, varying between 0.16% and 0.57%.
Strategic investments and equity-related assets
Strategic investments decreased from 0.38% to 0.21% by 2023. Equity method investments also showed a decline from 0.19% to 0.1%. Overall investments showed a downward trend from 1.49% to 1.07%, reflecting reduced investment exposure.
Deferred income taxes
These remained relatively stable, fluctuating slightly around 7.5% to 8.9% over the years, indicating consistent deferred tax positions.
Goodwill
Goodwill increased substantially from 19.42% in 2019 to a peak of 25.85% in 2022, then slightly decreased to 25.5% in 2023, reflecting acquisitions or asset revaluations increasing intangible asset value significantly.
Intangible assets, net
There was a decrease from 12.47% in 2019 to 9.07% in 2021, slight rise to 10.47% in 2022, and a drop to 9.41% in 2023, indicating some volatility but overall decline.
Defined benefit plan assets
These assets decreased notably from 2.1% in 2019 to 0.73% in 2023, indicating reduced pension or benefit plan asset values relative to total assets.
Non-current contract cost assets
These remained relatively stable between 0.89% and 1.02%, showing minimal changes over the years.
Other non-current assets
A decline is visible from 3.97% in 2019 to 2.05% in 2023, indicating a decrease in miscellaneous non-current asset balances.
Total assets composition
The split between current and non-current assets shows modest shifts, with current assets around 40-44% and non-current assets ranging approximately 55-60%, indicating a fairly stable asset structure over the period.