MOTOROLA SOLUTIONS, INC.

Recommendation history

• 2026-06-03BuyBuy: Motorola Solutions’ call supports durable, above-market growth, with MCN guided to 8%-9%, Video to 10%-11%, and Command Center to 15% in 2026, while management expects roughly 100 bps of operating-margin expansion despite memory and tariff pressure. Silvus revenue is expected at $750 million and D-Fend at $185 million this year, but the key tension is execution: D-Fend’s growth and accretion are still largely management claims, while Axon retains an estimated 80% body-worn-camera share and Motorola has not yet demonstrated broad Tier 1 displacement.
• 2026-05-20BuyBuy: Motorola Solutions is entering the second half with four straight quarters of double-digit order growth, expected 9%-10% organic growth in 2H26, 10%-11% Video growth for the year, and Silvus revenue guidance of $750 million. The portfolio strategy is working—Video grew 16% in Q1, Command Center 27%, and SVX has been procured by more than 100 customers—but the investment case still depends on management absorbing more-than-doubled memory costs, $60 million of first-half tariff headwinds, and converting Silvus’ largely hardware, conflict-driven demand into durable growth.
• Q1 2026BuyBuy: Motorola Solutions delivered a strong Q1, with revenue up 7%, Software & Services up 18%, record orders up 38%, and backlog up 11% to $15.7 billion. Management raised FY2026 revenue guidance to approximately $12.8 billion and adjusted EPS to $16.87-$16.99, supported by Silvus strength and accelerating Video and Command Center demand; the key tension is whether tariffs, sharply higher memory costs, and tougher LMR comparisons erode the planned 100-basis-point margin expansion.
• 2026-03-02BuyBuy: Motorola Solutions presented a credible reacceleration, with $15.7B of backlog, nearly $12B in Software and Services, double-digit order growth since Q2, and a 2026 plan for roughly $1B of revenue growth plus 100 bps of operating-margin expansion. The strongest incremental catalyst is Silvus, now expected to generate $675M in 2026 revenue versus $570M last year, while memory and tariff costs remain the main near-term earnings risk.
• 2026-03-02HoldHold: the call reinforced Motorola Solutions’ strategic moat and Silvus momentum, but offered no company-wide earnings guidance or valuation support. Management expects Silvus to generate approximately $675 million of 2026 revenue at roughly 20%+ growth and about 45% EBITDA margins, while Ukraine-related demand remains a meaningful contributor; the upside is attractive, but concentration and ceasefire risk are not quantified.
• Q4 2025BuyBuy: Motorola Solutions delivered a strong Q4, with revenue up 12%, non-GAAP EPS up 14% to $4.59, record 32.1% operating margin, orders up 26%, and backlog at $15.7 billion. Management raised 2026 revenue expectations to approximately $12.7 billion and EPS to $16.70-$16.85, supported by 10%-11% Software and Services growth, 7%-8% Products and SI growth, and a $75 million increase to Silvus expectations. The main tension is near-term: Q1 revenue growth is only 6%-7% as product backlog normalizes, while tariffs, memory costs, and unproven AI monetization remain execution risks.
• 2025-12-11BuyBuy: Motorola reaffirmed Q4 revenue growth guidance of 11% and pointed to roughly $12.6 billion of FY2026 revenue, or 8% growth with slightly more than 5% organic growth. The thesis is supported by broad-based state and local funding, a $15+ billion backlog, LMR infrastructure refreshes, software attachment, and Silvus; the key tension is that much of the upside remains management’s unquantified view of cross-selling, defense demand, and competitive wins.