Motorola Solutions Inc (MSI) is undervalued and Nokia Corp ADR (NOK) is overvalued.
Against our estimates of intrinsic value, MSI trades at the wider discount: a margin of safety of +24%, against -152% for NOK.
Values as of the 22 Sept 2026 close.
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $602.32; the price of $456.70 is 24% below that value.
Leak Score 90/100 on 9 of 12 signals
Discounting its cash flows at 10.3% (average of 3 methods) values the shares at $4.30; the price of $10.82 is 152% above that value, and 71% of that value comes from beyond year five.
Leak Score 27/100 on 3 of 12 signals
| Metric | MSI | NOK |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $456.70 | $10.82 |
| Intrinsic value | $602.32 | $4.30 |
| Margin of safety | +24% | -152% |
| Leak Score | 90/100 (9/12) | 27/100 (3/12) |
| Market cap | $75.6B | $60.6B |
| Revenue growth, 5 years | 9.5% | -2.1% |
| Operating margin | 25.3% | 11.1% |
| Net margin | 17.4% | 3.4% |
| Return on equity | 92.0% | 3.5% |
| Debt to equity | 3.60 | 0.16 |
| P/E | 36.0x | 74.7x |
| Forward P/E | 23.8x | 23.3x |
| P/B | 28.3x | 2.5x |
| Dividend yield | 1.0% | 1.6% |