Moody's Corporation

MCO · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998
Valuation
Market cap	$91,136	$85,789	$71,475	$51,043	$72,609	$53,956	$44,135	$26,033	$27,441	$17,525	$18,653	$20,187	$17,216	$11,231	$7,622	$6,237	$6,327	$4,870	$9,510	$19,627	$18,285	$12,899	$9,017	$6,353	$6,282	$4,152	$3,655	$4,085
Enterprise value	$96,190	$90,723	$76,855	$57,217	$78,869	$58,397	$48,579	$30,088	$32,011	$18,861	$20,034	$21,288	$17,223	$11,141	$8,101	$6,815	$7,047	$6,093	$10,221	$19,443	$18,004	$12,593	$9,048	$6,749	$6,419	$4,333	$3,971	$4,333
P/E (TTM) at period end	37.06×	41.69×	44.48×	37.15×	32.80×	30.35×	31.04×	19.87×	27.41×	65.73×	19.82×	20.42×	21.40×	16.28×	13.34×	12.28×	15.74×	10.64×	13.56×	26.03×	32.60×	30.34×	24.78×	21.99×	29.60×	26.20×	14.28×	14.58×
P/S (TTM) at period end	11.81×	12.10×	12.08×	9.33×	11.68×	10.05×	9.14×	5.86×	6.53×	4.86×	5.35×	6.05×	5.79×	4.11×	3.34×	3.07×	3.52×	2.77×	4.21×	9.63×	10.56×	8.97×	7.23×	6.21×	7.88×	6.89×	1.85×	2.11×
P/B at period end	22.48×	24.06×	21.54×	20.26×	26.63×	34.39×	72.12×	56.72×	–	–	–	–	51.09×	29.16×	–	–	–	–	–	117.25×	59.10×	40.63×	–	–	–	–	–	–
EV / EBITDA (TTM)	25.11×	27.44×	30.62×	25.84×	25.43×	22.39×	22.10×	14.61×	16.18×	24.25×	12.62×	13.87×	12.97×	9.51×	8.37×	8.12×	9.38×	7.66×	8.71×	17.08×	18.47×	15.35×	13.01×	11.99×	15.45×	14.20×	6.39×	7.34×
EV / Sales (TTM)	12.46×	12.80×	12.99×	10.46×	12.68×	10.87×	10.06×	6.77×	7.61×	5.23×	5.75×	6.38×	5.79×	4.08×	3.55×	3.35×	3.92×	3.47×	4.52×	9.54×	10.40×	8.76×	7.26×	6.60×	8.06×	7.19×	2.01×	2.24×
Returns
Return on equity	60.7%	57.7%	48.4%	54.5%	81.2%	113.3%	232.4%	285.4%	–	–	–	–	238.7%	179.1%	–	–	–	–	–	450.4%	181.3%	133.9%	–	–	–	–	–	–
Return on invested capital	28.7%	24.2%	20.3%	16.7%	25.2%	31.2%	30.6%	31.7%	23.6%	113.1%	78.6%	72.3%	162.5%	235.7%	187.9%	197.2%	350.1%	200.8%	–	941.6%	456.8%	3802.0%	–	437.3%	–	–	–	–
Dividend yield	0.8%	0.7%	0.8%	1.0%	0.6%	0.8%	0.9%	1.3%	1.1%	1.6%	1.5%	1.2%	1.1%	1.3%	1.6%	1.6%	1.5%	2.0%	0.9%	0.4%	0.3%	0.3%	0.3%	0.4%	0.5%	0.2%	3.3%	3.4%
Financial health
Current ratio	1.74×	1.47×	1.74×	1.72×	1.61×	2.03×	1.92×	1.61×	1.25×	1.34×	2.66×	2.24×	2.60×	2.17×	1.26×	1.44×	0.82×	0.58×	0.73×	1.43×	1.82×	1.22×	1.32×	0.59×	1.03×	1.10×	0.55×	0.56×
Debt / equity	1.73×	2.08×	2.11×	2.93×	2.72×	4.09×	9.12×	12.37×	(16.51×)	(2.75×)	(5.98×)	(13.56×)	6.24×	4.34×	(7.36×)	(4.00×)	(1.24×)	(0.75×)	(1.47×)	1.79×	0.97×	0.94×	(9.35×)	(1.33×)	(0.99×)	(1.06×)	(0.57×)	(0.10×)
Effective tax rate	21.3%	23.7%	16.9%	21.9%	19.6%	20.3%	21.0%	21.1%	43.6%	50.6%	31.2%	31.1%	30.2%	31.7%	31.2%	28.1%	37.0%	36.7%	37.0%	40.2%	40.0%	44.9%	44.6%	44.2%	44.4%	44.2%	41.1%	38.4%
Share count
Diluted shares outstanding	180	183	184	185	188	189	192	194	194	195	203	215	224	227	229	237	238	245	272	292	306	305	305	315	320	326	329	343

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998
Revenue and gross profit
Revenue	$8,176	$7,718	$7,088	$5,916	$5,468	$6,218	$5,371	$4,829	$4,443	$4,204	$3,604	$3,484	$3,334	$2,972	$2,730	$2,281	$2,032	$1,797	$1,755	$2,259	$2,037	$1,732	$1,438	$1,247	$1,023	$797	$602	$1,972	$1,934
Cost of revenue	($2,074)	($1,973)	($1,945)	($1,687)	($1,613)	($1,637)	($1,475)	($1,387)	($1,246)	($1,216)	($1,113)	($1,061)	($988)	($893)	($872)	($733)	($651)	($596)	($568)	($627)	($579)	($488)	($410)	($347)	($285)	($240)	($190)	($560)	($568)
Gross profit	$6,102	$5,745	$5,143	$4,229	$3,855	$4,581	$3,896	$3,442	$3,197	$2,988	$2,491	$2,424	$2,346	$2,080	$1,858	$1,548	$1,382	$1,199	$1,187	$1,632	$1,458	$1,244	$1,029	$899	$738	$557	$413	$1,412	$1,366
Operating expenses
Research and development	–	–	–	–	–	–	–	–	($51)	($42)	($40)	($29)	($38)	($23)	($16)	($30)	($20)	($14)	($13)	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($1,850)	($1,803)	($1,735)	($1,632)	($1,527)	($1,480)	($1,229)	($1,167)	($1,080)	($986)	($931)	($921)	($869)	($822)	($752)	($630)	($588)	($496)	($441)	($451)	($359)	($304)	($242)	($204)	($175)	($142)	($108)	($791)	($776)
Total operating expenses	($2,458)	($2,394)	($2,268)	($2,092)	($1,972)	($1,737)	($1,508)	($1,444)	($1,329)	($1,167)	($1,840)	($950)	($907)	($845)	($780)	($660)	($609)	($511)	($439)	($501)	($359)	($304)	($242)	($236)	($200)	($159)	($124)	($932)	($918)
Total costs and expenses	($4,532)	($4,367)	($4,213)	($3,779)	($3,585)	($3,374)	($2,983)	($2,831)	($2,575)	($2,383)	($2,953)	($2,011)	($1,895)	($1,738)	($1,653)	($1,392)	($1,259)	($1,110)	($1,007)	($1,128)	($938)	($792)	($652)	($584)	($485)	($398)	($314)	($1,492)	($1,486)
Operating income	$3,644	$3,351	$2,875	$2,137	$1,883	$2,844	$2,388	$1,998	$1,868	$1,821	$651	$1,473	$1,439	$1,235	$1,077	$888	$773	$688	$748	$1,131	$1,099	$940	$786	$663	$538	$398	$288	$480	$449
Earnings
EBITDA	$4,140	$3,831	$3,306	$2,510	$2,214	$3,101	$2,608	$2,198	$2,060	$1,979	$778	$1,587	$1,535	$1,328	$1,171	$968	$839	$752	$795	$1,174	$1,138	$975	$820	$696	$563	$416	$305	$621	$590
Interest income	$44	$65	$102	$63	$15	$9	$11	$17	$15	$16	$11	$10	$7	$6	$5	$5	$3	$2	$18	$19	$18	$26	$7	–	–	–	–	–	–
Interest expense	($194)	($189)	($204)	($207)	($231)	($171)	($232)	($208)	($215)	($209)	($157)	($115)	($117)	($92)	($64)	($62)	($52)	($41)	($59)	($40)	($15)	($21)	($23)	($7)	($21)	($17)	($4)	($45)	($15)
Pre-tax income	$3,696	$3,130	$2,699	$1,935	$1,760	$2,755	$2,229	$1,810	$1,672	$1,787	$558	$1,380	$1,461	$1,169	$1,024	$840	$714	$646	$730	$1,122	$1,260	$935	$771	$656	$517	$382	$284	$435	$400
Income tax expense	($809)	($668)	($640)	($327)	($386)	($541)	($452)	($381)	($352)	($779)	($282)	($430)	($455)	($353)	($324)	($262)	($201)	($239)	($268)	($415)	($507)	($374)	($346)	($292)	($228)	($170)	($126)	($179)	($153)
Net income	$2,883	$2,459	$2,058	$1,607	$1,374	$2,214	$1,778	$1,422	$1,310	$1,001	$267	$941	$989	$804	$690	$571	$508	$402	$458	$702	$754	$561	$425	$364	$289	$212	$158	$256	$280
Per share
Diluted EPS (GAAP)	$16.41	$13.67	$11.26	$8.73	$7.44	$11.78	$9.39	$7.42	$6.74	$5.15	$1.36	$4.63	$4.61	$3.60	$3.05	$2.49	$2.15	$1.69	$1.87	$2.58	$2.58	$1.84	$1.40	$1.19	$0.92	$0.66	$0.49	$0.78	$0.82
Basic EPS (GAAP)	$16.46	$13.73	$11.32	$8.77	$7.47	$11.88	$9.48	$7.51	$6.84	$5.24	$1.38	$4.70	$4.69	$3.67	$3.09	$2.52	$2.16	$1.70	$1.89	$2.63	$2.65	$1.88	$1.43	$1.22	$0.94	$0.67	$0.49	$0.79	$0.83
Basic shares outstanding	175	179	182	183	184	186	188	189	192	191	193	200	211	219	223	226	235	236	242	266	284	298	297	298	308	315	323	325	339
Margins
Gross margin	74.6%	74.4%	72.6%	71.5%	70.5%	73.7%	72.5%	71.3%	72.0%	71.1%	69.1%	69.6%	70.4%	70.0%	68.0%	67.9%	68.0%	66.7%	67.6%	72.2%	71.6%	71.8%	71.5%	72.1%	72.1%	69.9%	68.5%	71.6%	70.6%
Operating margin	44.6%	43.4%	40.6%	36.1%	34.4%	45.7%	44.5%	41.4%	42.0%	43.3%	18.1%	42.3%	43.2%	41.5%	39.5%	39.0%	38.0%	38.3%	42.6%	50.1%	53.9%	54.3%	54.7%	53.2%	52.6%	50.0%	47.9%	24.3%	23.2%
Net margin	35.3%	31.9%	29.0%	27.2%	25.1%	35.6%	33.1%	29.4%	29.5%	23.8%	7.4%	27.0%	29.7%	27.1%	25.3%	25.1%	25.0%	22.4%	26.1%	31.1%	37.0%	32.4%	29.6%	29.2%	28.2%	26.6%	26.3%	13.0%	14.5%

Analyst consensus

Buy32 analysts

Bearish · 1 · Hold · 13 · Bullish · 18

Earnings history

	EPS	Estimate
Q4 2024	$2.62	$2.27	Beat
Q1 2025	$3.83	$3.54	Beat
Q2 2025	$3.56	$3.39	Beat
Q3 2025	$3.92	$3.70	Beat
Q4 2025	$3.64	$3.43	Beat
Q1 2026	$4.33	$4.22	Beat
Q2 2026	$4.68	$4.26	Beat
Q3 2026	$4.14	$4.25	Miss

Peers

Company overview

IPO dateOct 31, 1994

CEORobert Scott Fauber

Employees16,076

SectorFinancial Services

IndustryFinancial - Data & Stock Exchanges

CountryUS

ExchangeNew York Stock Exchange

Websitewww.moodys.com

Moody's Corporation operates as a global leader in risk assessment, divided into two main segments: Moody's Investors Service and Moody's Analytics. Moody's Investors Service is dedicated to issuing credit ratings and providing detailed assessments for a diverse range of debt obligations and the entities that issue them. This encompasses corporate, financial institution, governmental, and structured finance securities across approximately 140 nations. These ratings are made publicly available through press releases, digital media, and real-time financial information systems. Its vast scope includes ratings for thousands of non-financial corporations, financial institutions, public finance issuers, sovereign and sub-sovereign governments, supranational bodies, infrastructure projects, and structured finance deals. The Moody's Analytics segment develops and provides a comprehensive suite of products and services designed to support the risk management needs of institutional participants in financial markets. This includes subscription-based research, data, and analytical tools such as credit ratings, quantitative credit scores, economic forecasts, business intelligence, commercial real estate data, and specialized training and certification programs. Additionally, this segment offers offshore analytical and research services, along with advanced software solutions for risk management. Originally founded in 1900 and headquartered in New York, New York, the company was known as Dun and Bradstreet Company before officially becoming Moody's Corporation in September 2000.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.