2024-06-14 09:14:41 ET
Summary
- MSI ended Q1 with a record $14.4 billion backlog, 40% higher than its $10 billion TTM revenue, signaling strong demand and future growth potential.
- The company showcases robust financials, with significant operating leverage, expanding margins, and substantial free cash flow, supporting sustainable shareholder value.
- However, my valuation analysis suggests that the big optimism is already priced in, and it is likely that the rally has gone too far.
Investment thesis
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For further details see:
Motorola Solutions: Bulletproof Fundamentals, But Optimism Already Priced In (Downgrade)