Debt to Equity
since 2005
Calculation
Motorola Solutions Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Long-term debt, including current portion1 | ÷ | Total Motorola Solutions, Inc. stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 8.31 | = | 6,018) | ÷ | 724) |
| Dec 31, 2022 | 51.84 | = | 6,014) | ÷ | 116) |
| Dec 31, 2021 | — | = | 5,693) | ÷ | (40) |
| Dec 31, 2020 | — | = | 5,175) | ÷ | (558) |
| Dec 31, 2019 | — | = | 5,129) | ÷ | (700) |
| Dec 31, 2018 | — | = | 5,320) | ÷ | (1,293) |
| Dec 31, 2017 | — | = | 4,471) | ÷ | (1,742) |
| Dec 31, 2016 | — | = | 4,396) | ÷ | (964) |
| Dec 31, 2015 | — | = | 4,390) | ÷ | (106) |
| Dec 31, 2014 | 1.24 | = | 3,400) | ÷ | 2,735) |
| Dec 31, 2013 | 0.67 | = | 2,461) | ÷ | 3,659) |
| Dec 31, 2012 | 0.57 | = | 1,863) | ÷ | 3,265) |
| Dec 31, 2011 | 0.29 | = | 1,535) | ÷ | 5,214) |
| Dec 31, 2010 | 0.26 | = | 2,799) | ÷ | 10,885) |
| Dec 31, 2009 | 0.40 | = | 3,901) | ÷ | 9,775) |
| Dec 31, 2008 | 0.44 | = | 4,184) | ÷ | 9,507) |
| Dec 31, 2007 | 0.28 | = | 4,323) | ÷ | 15,447) |
| Dec 31, 2006 | 0.26 | = | 4,397) | ÷ | 17,142) |
| Dec 31, 2005 | 0.26 | = | 4,254) | ÷ | 16,673) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The financial structure of the organization has undergone a significant transformation between 2005 and 2023, characterized by a steady increase in long-term debt and a prolonged period of equity deficit.
- Long-term Debt Trends
- Long-term debt remained relatively stable between 2005 and 2009, fluctuating between 3.9 billion and 4.4 billion US dollars. A notable decrease occurred between 2010 and 2011, with debt falling to 1.5 billion US dollars. However, from 2012 onward, a consistent upward trajectory is observed, with total debt increasing to 6.0 billion US dollars by 2023. This represents a significant expansion of the company's leverage over the final decade of the analyzed period.
- Stockholders' Equity Volatility
- Equity experienced a severe decline from a high of 17.1 billion US dollars in 2006 to a deficit beginning in 2015. Between 2015 and 2021, the company operated with negative stockholders' equity, reaching a peak deficit of 1.7 billion US dollars in 2017. A gradual recovery began in 2018, with equity returning to a positive balance in 2022 at 116 million US dollars and further improving to 724 million US dollars by the end of 2023.
- Debt-to-Equity Ratio Interpretation
- The debt-to-equity ratio remained low and stable from 2005 to 2010, ranging from 0.26 to 0.44. Between 2011 and 2014, the ratio climbed steadily, reaching 1.24 as debt increased and equity decreased. During the years of negative equity (2015-2021), the ratio is not reported, as negative equity renders the traditional ratio calculation non-representative of financial leverage. Upon the return to positive equity in 2022, the ratio spiked to 51.84, reflecting a very small equity base relative to high debt. By 2023, the ratio decreased to 8.31, correlating with the increase in total stockholders' equity.
In summary, the data indicates a shift from a conservative capital structure to one characterized by high leverage and a historical period of negative net worth, with recent trends showing a move toward rebuilding the equity base.
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Comparison to Competitors
Motorola Solutions Inc., debt to equity, long-term trends, comparison to competitors
| Motorola Solutions Inc. | Apple Inc. | Arista Networks Inc. | Cisco Systems Inc. | Dell Technologies Inc. | Lumentum Holdings Inc. | Super Micro Computer Inc. | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 8.31 | 1.79 | 0.00 | 0.19 | — | 0.23 | 0.15 |
| Dec 31, 2022 | 51.84 | 2.37 | 0.00 | 0.24 | — | 1.00 | 0.42 |
| Dec 31, 2021 | — | 1.98 | 0.00 | 0.28 | 19.36 | 0.60 | 0.09 |
| Dec 31, 2020 | — | 1.72 | 0.00 | 0.38 | — | 0.64 | 0.03 |
| Dec 31, 2019 | — | 1.19 | 0.00 | 0.73 | — | 0.56 | 0.03 |
| Dec 31, 2018 | — | 1.07 | 0.02 | 0.59 | — | 0.36 | 0.14 |
| Dec 31, 2017 | — | 0.86 | 0.02 | 0.51 | — | 0.51 | 0.21 |
| Dec 31, 2016 | — | 0.68 | 0.04 | 0.45 | — | 0.00 | 0.13 |
| Dec 31, 2015 | — | 0.54 | 0.05 | 0.42 | — | 0.00 | 0.15 |
| Dec 31, 2014 | 1.24 | 0.32 | 0.08 | 0.37 | — | — | 0.10 |
| Dec 31, 2013 | 0.67 | 0.14 | — | 0.27 | — | — | 0.09 |
| Dec 31, 2012 | 0.57 | 0.00 | — | 0.32 | — | — | 0.10 |
| Dec 31, 2011 | 0.29 | 0.00 | — | 0.36 | — | — | 0.10 |
| Dec 31, 2010 | 0.26 | 0.00 | — | 0.35 | — | — | 0.08 |
| Dec 31, 2009 | 0.40 | 0.00 | — | 0.27 | — | — | 0.06 |
| Dec 31, 2008 | 0.44 | 0.00 | — | 0.20 | — | — | 0.07 |
| Dec 31, 2007 | 0.28 | 0.00 | — | 0.20 | — | — | 0.10 |
| Dec 31, 2006 | 0.26 | 0.00 | — | 0.26 | — | — | — |
| Dec 31, 2005 | 0.26 | 0.00 | — | 0.00 | — | — | — |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Technology Hardware & Equipment)
Motorola Solutions Inc., debt to equity, long-term trends, comparison to sector (technology hardware & equipment)
| Motorola Solutions Inc. | Technology Hardware & Equipment | |
|---|---|---|
| Dec 31, 2023 | 8.31 | 1.31 |
| Dec 31, 2022 | 51.84 | 1.64 |
| Dec 31, 2021 | — | 1.63 |
| Dec 31, 2020 | — | 1.67 |
| Dec 31, 2019 | — | 1.51 |
| Dec 31, 2018 | — | 0.91 |
| Dec 31, 2017 | — | 0.74 |
| Dec 31, 2016 | — | 0.60 |
| Dec 31, 2015 | — | 0.50 |
| Dec 31, 2014 | 1.24 | 0.33 |
| Dec 31, 2013 | 0.67 | 0.18 |
| Dec 31, 2012 | 0.57 | 0.10 |
| Dec 31, 2011 | 0.29 | 0.14 |
| Dec 31, 2010 | 0.26 | 0.17 |
| Dec 31, 2009 | 0.40 | 0.15 |
| Dec 31, 2008 | 0.44 | 0.12 |
| Dec 31, 2007 | 0.28 | 0.14 |
| Dec 31, 2006 | 0.26 | 0.19 |
| Dec 31, 2005 | 0.26 | 0.00 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Motorola Solutions Inc., debt to equity, long-term trends, comparison to industry (information technology)
| Motorola Solutions Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2023 | 8.31 | 0.65 |
| Dec 31, 2022 | 51.84 | 0.70 |
| Dec 31, 2021 | — | 0.82 |
| Dec 31, 2020 | — | 0.95 |
| Dec 31, 2019 | — | 0.97 |
| Dec 31, 2018 | — | 0.82 |
| Dec 31, 2017 | — | 0.80 |
| Dec 31, 2016 | — | 0.65 |
| Dec 31, 2015 | — | 0.56 |
| Dec 31, 2014 | 1.24 | 0.38 |
| Dec 31, 2013 | 0.67 | 0.28 |
| Dec 31, 2012 | 0.57 | 0.24 |
| Dec 31, 2011 | 0.29 | 0.27 |
| Dec 31, 2010 | 0.26 | 0.24 |
| Dec 31, 2009 | 0.40 | 0.25 |
| Dec 31, 2008 | 0.44 | 0.28 |
| Dec 31, 2007 | 0.28 | 0.26 |
| Dec 31, 2006 | 0.26 | 0.19 |
| Dec 31, 2005 | 0.26 | 0.15 |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).