Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Motorola Solutions, Inc. (0K3H.L)

Company Dividend Discount ModelIndustry: Communication EquipmentSector: Technology

Valuation Snapshot

Stable Growth$569.08 - $2,480.71$1,367.56
Multi-Stage$291.55 - $318.90$304.98
Blended Fair Value$836.27
Current Price$456.52
Upside83.18%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2024202320222021202020192018201720162015
DPS11.53%7.48%3.863.473.132.842.572.231.991.811.651.63
YoY Growth--11.04%11.13%9.96%10.55%15.04%12.46%9.77%9.64%1.08%-12.89%
Dividend Yield--0.89%0.98%1.09%1.19%1.36%1.65%1.42%1.72%1.91%2.15%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)2,116.00
(-) Cash Dividends Paid (M)710.00
(=) Cash Retained (M)1,406.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)423.20264.50158.70
Cash Retained (M)1,406.001,406.001,406.00
(-) Cash Required (M)-423.20-264.50-158.70
(=) Excess Retained (M)982.801,141.501,247.30
(/) Shares Outstanding (M)169.60169.60169.60
(=) Excess Retained per Share5.796.737.35
LTM Dividend per Share4.194.194.19
(+) Excess Retained per Share5.796.737.35
(=) Adjusted Dividend9.9810.9211.54
WACC / Discount Rate7.33%7.33%7.33%
Growth Rate5.48%6.48%7.48%
Fair Value$569.08$1,367.56$2,480.71
Upside / Downside24.66%199.56%443.40%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)2,116.002,253.052,398.982,554.362,719.802,895.962,982.84
Payout Ratio33.55%44.84%56.13%67.42%78.71%90.00%92.50%
Projected Dividends (M)710.001,010.341,346.601,722.192,140.782,606.362,759.12

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.33%7.33%7.33%
Growth Rate5.48%6.48%7.48%
Year 1 PV (M)932.52941.37950.21
Year 2 PV (M)1,147.171,169.021,191.08
Year 3 PV (M)1,354.131,393.011,432.63
Year 4 PV (M)1,553.621,613.381,674.85
Year 5 PV (M)1,745.831,830.181,917.75
PV of Terminal Value (M)42,713.6044,777.1446,919.68
Equity Value (M)49,446.8751,724.1054,086.20
Shares Outstanding (M)169.60169.60169.60
Fair Value$291.55$304.98$318.90
Upside / Downside-36.14%-33.20%-30.14%

High-Yield Dividend Screener

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