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Moody's Corporation

MCO Financial Financial Data & Stock Exchanges

Moody's Corporation’s revenue for fiscal 2025 (year ended December 2025) was $7.7 billion, up 8.89% from fiscal 2024.

Revenue
+0.80%
EPS
+17.7%
Free cash flow
+1.52%
Total debt
−1.03%

Quarter to September 2026, against a year earlier

507.22 8.12 −1.58%
Market cap
$88.8B
P/E
31.3×
Fwd P/E
30.3×
Dividend yield
0.78%
F-score
9/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • MIS
  • MA

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 17.77
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 1 2 5 2 2 2 2 1 1 2 3
Insider Ownership 0.35%

Capital & Financial Ratios $m

Size
Market Cap 88,840.00
Revenue ttm 8,176.00
Net income ttm 2,887.00
Free cash flow ttm 2,977.00
Net debt Q 5,290.00
Valuation
P/E 31.29
Forward P/E 30.30
Price / sales 10.88 (above 10: high)
Forward P/S Powerpack
Price / FCF 29.89
Price / book 26.08
Financial health
Current ratio Q 1.29
Debt / equity Q 2.03
Interest coverage Q 16.78
Growth
Revenue growth Q +0.80% (above 0%: growing)
Operating income growth Q −1.20% (below 0%: shrinking)
EPS, this year +12.16%
EPS, next year A +10.97%
Revenue, next year A +6.58%
EPS, past 5 yrs +7.80%
EPS, next 5 yrs A +11.52%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 40.48%
10-year low 10-year high
P/S against its own 10 years 70.55%
10-year low 10-year high
P/B against its own 10 years 54.55%
10-year low 10-year high

Dividends raised every year since 2018

Yield
0.78%
Annual rate
4.03
Payout ratio
24.6%
Growth, 2018–26
+11.2%/yr
  1. 1.76 ’18
  2. 2.00 ’19 +14
  3. 2.24 ’20 +12
  4. 2.48 ’21 +11
  5. 2.80 ’22 +13
  6. 3.08 ’23 +10
  7. 3.40 ’24 +10
  8. 3.76 ’25 +11
  9. 4.12 ’26 +10
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 2,193 2,974 2,448 1,621
Receivables 1,659 1,801 2,024 1,830
Inventory — — — —
Other 489 515 714 773
4,341 5,290 5,186 4,224
2023 2024 2025 Q'26
Payables 1,076 1,344 1,304 1,219
ST’ Debt — 697 — 568
Other — — — —
2,500 3,597 2,981 3,282

Compound Annual Growth %

10y 5y 3y
Sales 8.28% 7.52% 12.17%
Cash Flow 9.25% 6.21% 25.32%
Earnings 10.08% 6.70% 21.41%
Book Value 0.00% 18.99% 16.07%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 4.25 Actual 4.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 3.45 3.64 Beat by 0.19
Q1 FY26 4.25 4.33 Beat by 0.08
Q2 FY26 4.24 4.68 Beat by 0.44
Q3 FY26 4.25 4.14 Miss by 0.11
Q4 FY26 3.62 — Reports 17 February 2027

EPS $

Mar Jun Sep Dec Year
’26 3.73 5.03 4.24 — —
’25 3.46 3.21 3.60 3.41 13.67
’24 3.15 3.02 2.93 2.17 11.26
’23 2.72 2.05 2.11 1.85 8.73
’22 2.68 1.77 1.65 1.34 7.44
’21 3.90 3.07 2.53 2.28 11.78
’20 2.57 2.69 2.47 1.66 9.39
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,079 2,185 2,023 — —
’25 1,924 1,898 2,007 1,889 7,718
’24 1,786 1,817 1,813 1,672 7,088
’23 1,470 1,494 1,472 1,480 5,916
’22 1,522 1,381 1,275 1,290 5,468
’21 1,600 1,553 1,526 1,539 6,218
’20 1,290 1,435 1,356 1,290 5,371
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 939 779 753 — —
’25 757 543 743 858 2,901
’24 775 686 703 674 2,838
’23 608 604 462 477 2,151
’22 470 291 336 377 1,474
’21 676 594 436 299 2,005
’20 345 632 511 658 2,146
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 844 688 668 — —
’25 672 468 658 777 2,575
’24 697 593 631 600 2,521
’23 535 550 391 404 1,880
’22 411 217 265 298 1,191
’21 662 564 403 237 1,866
’20 324 591 490 638 2,043
Fiscal quarters ending in the months shown.

Valuation

The price implies the dividend a share growing 30.6% a year for ten years. It grew 11.1% a year over the last ten.

Implied
30.6%
10 years, reported
11.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,604 4,204 4,443 4,829 5,371 6,218 5,468 5,916 7,088 7,718 8,176 +8.8% 8,226 8,775 9,430 +6.9%
Gross margin, % 71.71 71.08 71.96 71.28 72.54 73.67 70.50 71.48 72.56 74.44 74.63 +2.7 pt
EBT 558 1,787 1,672 1,810 2,229 2,755 1,760 1,935 2,699 3,130 3,696 +21.1%
EBT margin, % 15.48 42.51 37.63 37.48 41.50 44.31 32.19 32.71 38.08 40.55 45.21 +25.1 pt
Net income 276 1,008 1,320 1,429 1,777 2,214 1,374 1,608 2,059 2,462 2,887 +27.5%
Per share, $
Per share, $ Revenue 18.70 22.00 23.19 25.51 28.63 33.36 29.73 32.29 38.99 43.09 47.31 +9.7%
Earnings 1.38 5.24 6.84 7.51 9.48 11.88 7.47 8.77 11.32 13.73 16.46 +29.1%
Cash flow 6.53 3.95 7.63 8.85 11.44 10.76 8.02 11.74 15.61 16.20 19.27 +10.6%
Capex (0.60) (0.48) (0.47) (0.36) (0.55) (0.75) (1.54) (1.48) (1.74) (1.82) (2.04) +13.2%
Free cash flow 5.94 3.47 7.15 8.48 10.89 10.01 6.48 10.26 13.87 14.38 17.23 +10.3%
Book value (5.33) (0.60) 3.42 4.39 9.40 15.64 14.62 18.97 20.50 23.48 19.75 n/m
Shares, m 193 191 192 189 188 186 184 183 182 179 176 (0.8%)
Valuation, ×
Valuation, × P/E 70.72 27.94 20.47 31.57 30.65 32.90 37.06 43.59 41.85 37.21 31.29 37.4
P/S 5.10 6.64 6.04 9.31 10.14 11.71 9.30 11.82 12.14 11.85 10.88 9.4
P/B 0.00 0.00 40.90 54.08 30.88 24.97 18.91 20.12 23.09 21.76 26.08 23.5
EV/Sales 5.42 7.65 6.91 10.08 10.85 12.61 10.33 12.65 12.77 12.53 — 10.2
EV/FCF 17.08 48.42 22.40 30.31 28.52 42.03 47.42 39.82 35.90 37.57 — 34.9
Cash, $m
Cash, $m Operating cash flow 1,259 755 1,461 1,675 2,146 2,005 1,474 2,151 2,838 2,901 3,329 +9.7%
Capex (115) (91) (91) (69) (103) (139) (283) (271) (317) (326) (352) +12.3%
Free cash flow 1,144 664 1,370 1,606 2,043 1,866 1,191 1,880 2,521 2,575 2,977 +9.4%
Balance, $m
Balance, $m Working capital 825 517 1,288 1,767 2,287 1,515 1,719 1,841 1,693 2,205 942 +11.5%
Net debt 1,138 4,227 3,858 3,740 3,820 5,616 5,636 4,808 4,454 4,546 5,290 +16.6%
Shareholders’ equity (1,027) (115) 656 831 1,763 2,916 2,689 3,476 3,727 4,205 3,412 n/m
Returns, %
Returns, % ROA 5.11 14.38 14.46 14.37 15.68 16.35 9.47 11.09 13.66 15.69 19.06 +10.6 pt
ROIC 367.16 27.68 25.86 27.32 26.73 20.83 14.14 16.12 21.96 23.93 26.17 (343.2) pt
ROE (39.20) (175.28) 484.20 191.26 137.09 94.64 49.03 52.13 57.14 62.00 76.63 +101.2 pt
People
People Employees 10,600 12,000 13,000 11,000 11,490 13,460 14,426 15,151 15,838 16,076 — +4.7%
Revenue/emp, $m 0.34 0.35 0.34 0.44 0.47 0.46 0.38 0.39 0.45 0.48 — +3.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

Moody’s Corporation is a New York City-headquartered risk assessment company founded in 1909. Robert Fauber is President and Chief Executive Officer. It helps banks, insurers, investors, corporations and governments assess creditworthiness, identify risks, meet compliance needs and make decisions.

The company operates through Moody’s Analytics (MA) and Moody’s Investors Service (MIS). MA sells data, research, models and cloud-based tools that customers use in lending, underwriting, know-your-customer (KYC), insurance, financial-crime compliance, supply-chain assessment and risk management. Its tools combine information about companies, debt, properties, securities, people, economies, climate and other risk areas.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
MIS 4,119 53.37%
MA 3,599 46.63%
Gross margin 74.44%
Operating margin 43.42%
Pre-tax margin 40.55%

Revenue by segment since 2009

Moody's Corporation vs peers in Financial Data & Stock Exchanges (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SPGI S&P Global Inc. $137.0B 27.6× 28.2× +6.83% (above 0%: growing) +19.84% (above 0%: growing) +30.00% (above 0%: growing) 71.89% 53.18% Compare
CME CME Group Inc. $110.0B 25.0× 25.4× +12.99% (above 0%: growing) +16.47% (above 0%: growing) +12.68% (above 0%: growing) 100.00% 65.70% Compare
ICE Intercontinental Exchange Inc. $97.2B 23.6× 22.7× +14.68% (above 0%: growing) +19.17% (above 0%: growing) +25.47% (above 0%: growing) 98.66% 50.99% Compare
MCO Moody's Corporation $88.8B 31.3× 30.3× +0.80% (above 0%: growing) +17.73% (above 0%: growing) +1.52% (above 0%: growing) 74.10% 44.78%
NDAQ Nasdaq, Inc. $59.3B 28.9× 29.4× +20.92% (above 0%: growing) +31.08% (above 0%: growing) +201.97% (above 0%: growing) 61.89% 30.59% Compare
MSCI MSCI Inc $46.9B 34.8× 31.4× +12.43% (above 0%: growing) +14.32% (above 0%: growing) −8.93% (below 0%: shrinking) 82.94% 56.29% Compare
CBOE Cboe Global Markets, Inc. $36.8B 25.0× — +19.02% (above 0%: growing) +42.66% (above 0%: growing) +471.74% (above 0%: growing) 52.41% 39.32% Compare
COIN Coinbase Global, Inc. $36.2B — (loss-making) — (loss-making) −34.95% (below 0%: shrinking) +64.85% (above 0%: growing) −45.48% (below 0%: shrinking) 84.00% 5.07% Compare
TRU TransUnion $15.8B 19.9× 17.7× +12.23% (above 0%: growing) +67.98% (above 0%: growing) +50.83% (above 0%: growing) 59.26% 20.36% Compare
Median of peers $53.1B 25.0× 26.8× +12.71% +25.46% +27.74% 77.42% 45.16%

All 14 Financial Data & Stock Exchanges stocks →

From the latest earnings call

Updated

  • CEO Robert Fauber said AI infrastructure financing supported ratings activity, while leveraged-finance issuance moderated against the prior-year quarter.
  • CFO Noémie Heuland said recurring organic constant-currency revenue grew 9% at Moody’s Analytics and represented about 99% of segment revenue.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 91.41%
Held by the ten largest 51.78%
Holder Shares Stake Change
Berkshire Hathaway 24.67m 14.24% 0.00
Vanguard 15.07m 8.70% −294.40k
TCI FUND MANAGEMENT LTD 14.33m 8.28% 0.00
BlackRock 12.46m 7.20% −665.95k
State Street 7.11m 4.11% −27.45k
Fidelity (FMR) 4.99m 2.88% −1.71k
Geode Capital Management 4.01m 2.31% −74.75k
Morgan Stanley 2.38m 1.37% +57.13k
Norges Bank 2.37m 1.37% +2.37m
PineStone Asset Management Inc. 2.28m 1.32% −65.82k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 4 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 18.08m 26.29m 183.00
2024 16.97m 35.25m 169.00

Ownership

Directors and executive officers, together less than 1%
Berkshire Hathaway, Inc.Warren E. Buffett, National Indemnity Company, GEICO Corporation, Government Employees Insurance Company, 13.90%
The Vanguard Group100 Vanguard Blvd., Malvern, Pennsylvania 7.98%
BlackRock, Inc.50 Hudson Yards, New York, New York 7.28%
TCI Fund Management LimitedChristopher Hohn, 6.79%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Moody's Corporation (MCO) Latest News

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20 Oct

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19 Oct

Impact 3 · · Zacks

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Impact 4 · · The Telegraph

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Impact 3 · · Zacks

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MCO metrics, ten years each

stockrow.com/MCO · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com