MSI · Earnings call · 2026Q2T · Full report
Liquidity and Debt Position
Motorola Solutions, Inc. · 2026-08-05 · Importance 64 · Surprise 42 · In source text
Management described the balance sheet as strong and said it provides headroom for capital allocation. Motorola Solutions expects to raise approximately $1 billion of incremental debt through senior notes and term loans to finance the $1.5 billion D-Fend acquisition. Despite the planned borrowing, the company expects to end 2026 with net debt-to-EBITDA leverage of approximately 2.0x. That leverage level is expected to be similar to where the company ended the prior year.
Key facts
- They expect to raise approximately $1 billion of incremental debt in the form of senior notes and term loans to finance the D-Fend acquisition.
- They expect to finish the year with net debt-to-EBITDA leverage at approximately 2x, similar to where they ended last year.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | probable | — | They expect to raise approximately $1 billion of incremental debt in the form of senior notes and term loans to finance the D-Fend… |
| liability | unclear | committed | — | They expect to finish the year with net debt-to-EBITDA leverage at approximately 2x, similar to where they ended last year. |