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Motorola Solutions cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$589M in Q3 2026 · $2.5B over twelve months

Operating cash flow$662M
Capital spending−$73.0M
Free cash flow+$589M
Cash / net income1.3×
Cash conversion cycle86 days

Analysis

In Q3 2026, Motorola Solutions generated $662M of operating cash flow and spent $73.0M on capital projects, leaving free cash flow of $589M.

Over the twelve months to Oct 3, 2026, operating cash flow was $2.8B; the largest uses were other investing ($1.7B), buybacks ($1.0B), dividends ($784M); besides operations, cash came from net borrowing (+) / repaid (−) ($1.1B), shares issued ($94.0M); the cash balance fell by $120M.

Operating cash flow was $662M against net income of $514M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: other operating capital +$157M, depreciation & amortization +$150M, inventory −$148M.

Its cash conversion cycle was 86 days (receivables 62 + inventory 80 − payables 57).

Free cash flow

Motorola Solutions: free cash flow by quarterMotorola Solutions: free cash flow by quarter$984MQ4 2024$473MQ1 2025$225MQ2 2025$732MQ3 2025$1.1BQ4 2025$389MQ1 2026$414MQ2 2026$589MQ3 2026
Operating cash flow less capital spending.
Motorola Solutions: operating cash flow against capital spendingMotorola Solutions: operating cash flow against capital spendingOperating cash flowCapital spending$1.1B$86.0MQ4 2024$510M$37.0MQ1 2025$273M$48.0MQ2 2025$798M$66.0MQ3 2025$1.3B$114MQ4 2025$451M$62.0MQ1 2026$469M$55.0MQ2 2026$662M$73.0MQ3 2026
Latest (Q3 2026): Operating cash flow $662M, Capital spending $73.0M.

Capital allocation, year by year

Motorola Solutions: where the cash came from (up) and went (down), by fiscal yearMotorola Solutions: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow $1.8BFY2021: Net borrowing $480MFY2021: Shares issued $102MFY2021: Asset sales $6.0MFY2021: Capital spending −$243MFY2021: Buybacks −$528MFY2021: Dividends −$482M$2.4BFY2021FY2022: Operating cash flow $1.8BFY2022: Net borrowing $310MFY2022: Shares issued $156MFY2022: Capital spending −$256MFY2022: Buybacks −$836MFY2022: Dividends −$530M$2.3BFY2022FY2023: Operating cash flow $2.0BFY2023: Net borrowing −$1.0MFY2023: Shares issued $261MFY2023: Capital spending −$253MFY2023: Buybacks −$804MFY2023: Dividends −$589M$2.3BFY2023FY2024: Operating cash flow $2.4BFY2024: Net borrowing −$618MFY2024: Shares issued $236MFY2024: Capital spending −$257MFY2024: Buybacks −$244MFY2024: Dividends −$654M$2.6BFY2024FY2025: Operating cash flow $2.8BFY2025: Net borrowing $3.2BFY2025: Shares issued $205MFY2025: Capital spending −$265MFY2025: Buybacks −$1.2BFY2025: Dividends −$728M$6.2BFY2025
Over these 5 years operating cash flow totalled $10.9B; the largest uses were buybacks ($3.6B) and dividends ($3.0B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$774M
Debt$10.1B
Net debt$9.3B
Due within a year$750M

Motorola Solutions funds itself: free cash flow was $2.5B over the last twelve months, and $774M of cash and investments stands against $10.1B of debt ($750M due within a year, 1.0× covered by cash).

Motorola Solutions: debt maturities by year (FY2025)Motorola Solutions: debt maturities by year (FY2025)$750MYear 1$1.5BYear 3$1.2BYear 4$1.5BYear 5
Principal due in each year as disclosed in the annual report, against $774M of cash and investments now.

Where the cash came from and went

Motorola Solutions: sources (+) and uses (−) of cash, Q3 2026Motorola Solutions: sources (+) and uses (−) of cash, Q3 2026Other investing−$1.4BNet borrowing (+) / repaid (−)$1.1BOperating cash flow$662MDividends−$200MBuybacks−$94.0MCapital spending−$73.0MCash drawn (+) / kept (−)−$64.0MShares issued$54.0MPartners−$1.0M
Motorola Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Motorola Solutions: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$2.8BOther investing−$1.7BNet borrowing (+) / repaid (−)$1.1BBuybacks−$1.0BDividends−$784MOther financing−$322MCapital spending−$304MCash drawn (+) / kept (−)$120MShares issued$94.0MExchange rates−$33.0MPartners−$5.0M

From profit to cash

Motorola Solutions: net income to operating cash flow, Q3 2026Motorola Solutions: net income to operating cash flow, Q3 2026Net income$514MDepreciation & amortization$150MStock-based pay$103MDeferred taxes$38.0MInventory−$148MPrepaid and other assets−$33.0MOther operating capital$157MOperating cash flow$662M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202662805786
Q2 202661795981
Q1 202674757277
Q4 202559576155
Q3 202559565857
Q2 202560575957
Q1 202565576755
Q4 202459516149

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$662M−$73.0M−$94.0M−$200M$1.1B$54.0M−$64.0M$589M
Q2 2026$469M−$55.0M−$331M−$201M—−$3.0M$176M$414M
Q1 2026$451M−$62.0M−$118M−$201M−$200M−$6.0M$279M$389M
Q4 2025$1.3B−$114M−$490M−$182M$143M$49.0M−$271M$1.1B
Q3 2025$798M−$66.0M−$121M−$182M$1.6B$34.0M$2.3B$732M
Q2 2025$273M−$48.0M−$218M−$182M$1.5B$53.0M−$1.6B$225M
Q1 2025$510M−$37.0M−$325M−$182M—−$90.0M$538M$473M
Q4 2024$1.1B−$86.0M−$103M−$164M—$56.0M−$698M$984M

Motorola Solutions: income statement and cash flow

Motorola Solutions, Q3 2026: revenue $3.4B (+12% year over year), operating margin 23.0%. The chart follows the revenue to costs, profit and cash.

Motorola Solutions: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.