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MCOMoody's Corporation

Financials · Credit Bureaus · NYSE
MCO quote by TradingView
Compare with peers → Embed
FY2025 at a glance

Sales up 8.9%, free cash flow up to $2.6B

XBRL, from each 10-K
RevenueStatements ↓
$7.7B
from $7.1B in FY2024
FY2016FY2025
Net incomeStatements ↓
$2.5B
from $2.1B in FY2024
FY2016FY2025
Free cash flowStatements ↓
$2.6B
from $2.5B in FY2024
FY2016FY2025
EPS (diluted)Statements ↓
$13.67
from $11.26 in FY2024
FY2016FY2025
Operating marginStatements ↓
43.4%
from 40.6% in FY2024
FY2016FY2025
Total debtStatements ↓
$7.0B
from $7.4B in FY2024
FY2016FY2025
Price and key numbers

The latest figures

All key numbers (39, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)16.39Sales (ttm)8.2BNet income (ttm)2.9BSales growth+8.9%EPS growth+21.4%Sales Q/Q+0.8%
Free cash flow3.0BGross margin74.6%Oper. margin44.6%Net margin35.3%FCF margin36.4%ROE88.2%
ROA19.4%R&D / sales-Dividend3.76Debt/Eq2.11Curr. ratio1.29Cash1.5B
Op. cash flow (ttm)3.3BEBITDA3.8BEBITDA margin49.6%Net debt5.4BQuick ratio1.29Interest cover14.26
ROIC25.9%Payout ratio27.5%Tax rate21.3%Stock pay / sales3.0%Shares out.172.4MShares Y/Y-1.5%
Book / share18.96Cash / share8.78Sales / share47.42Asset turnover0.55Days sales out.96Sales 3Y CAGR+12.2%
Sales 5Y CAGR+7.5%EPS 3Y CAGR+22.5%EPS 5Y CAGR+7.8%

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth slowed to +8.9%+19.8% → +8.9% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Operating margin widened to 43.4%40.6% → 43.4% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

MCO against Financials peers

Ten years, side by side → · All 76 →
GrowthProfitBalanceCleanInsiders
MCOPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 76 companies, the better end on the right. Hover a dot for the company.

Sales growth
+8.9%29th of 76 · median +7.2%
Net margin
35.3%7th of 76 · median 20.4%
Return on equity
88.2%1st of 74 · median 16.7%
Free cash flow margin
36.4%10th of 49 · median 21.5%
Debt / equity (less is better)
2.1157th of 62 · median 0.70
MCO and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
MCO Moody's Corporation$8.2B +8.9%74.6%35.3%88.2%36.4%2.11
CFG Citizens Financial Group$8.9B +5.6%-25.4%9.0%-0.71
NTRS Northern Trust$8.4B -2.5%-28.8%18.2%20.6%-
KEY KeyCorp$8.0B +62.7%-26.6%11.9%19.0%0.64
TROW T. Rowe Price$7.7B +3.1%-28.4%19.2%20.7%-
RF Regions Financial Corporation$7.7B +6.3%-29.9%12.9%-0.59
Where each dollar goes

From $6.2B of sales to $2.2B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $4.6BRevenue to Cost of revenue: $1.6BGross profit to Operating profit: $2.8BGross profit to Operating expenses: $1.7BOperating profit to Net profit: $2.2BOperating profit to Tax & other: $630.0M Revenue: $6.2B Revenue$6.2B +16% Y/Y Gross profit: $4.6B · 74% margin Gross profit$4.6B74% margin Cost of revenue: $1.6B · 26% of revenue Cost of revenue$1.6B26% of revenue Operating profit: $2.8B · 46% margin Operating profit$2.8B46% margin +19% Y/Y Operating expenses: $1.7B · 28% of revenue Operating expenses$1.7B28% of revenue Net profit: $2.2B · 36% margin Net profit$2.2B36% margin +25% Y/Y Tax & other: $630.0M · 10% of revenue Tax & other$630.0M10% of revenue

Swipe sideways for the whole flow →

From $5.5B of sales to $1.4B of profit

FY2022, from the 10-K income statement and revenue by product
Relationship Revenue to Revenue: $3.8BTransaction Revenue to Revenue: $1.7BRevenue to Gross profit: $3.9BRevenue to Cost of revenue: $1.6BGross profit to Operating profit: $1.9BGross profit to Operating expenses: $2.0BOperating profit to Net profit: $1.4BOperating profit to Tax & other: $509.0M Relationship Revenue: $3.8B · 69% Relationship Revenue$3.8B69% Transaction Revenue: $1.7B · 31% Transaction Revenue$1.7B31% Revenue: $5.5B Revenue$5.5B −12% Y/Y Gross profit: $3.9B · 71% margin Gross profit$3.9B71% margin Cost of revenue: $1.6B · 29% of revenue Cost of revenue$1.6B29% of revenue Operating profit: $1.9B · 34% margin Operating profit$1.9B34% margin −34% Y/Y Operating expenses: $2.0B · 36% of revenue Operating expenses$2.0B36% of revenue Net profit: $1.4B · 25% margin Net profit$1.4B25% margin −38% Y/Y Tax & other: $509.0M · 9% of revenue Tax & other$509.0M9% of revenue

Swipe sideways for the whole flow →

From $5.9B of sales to $1.6B of profit

FY2023, from the 10-K income statement and revenue by product
Relationship Revenue to Revenue: $4.1BTransaction Revenue to Revenue: $1.8BRevenue to Gross profit: $4.2BRevenue to Cost of revenue: $1.7BGross profit to Operating profit: $2.1BGross profit to Operating expenses: $2.1BOperating profit to Net profit: $1.6BOperating profit to Tax & other: $530.0M Relationship Revenue: $4.1B · 69% Relationship Revenue$4.1B69% Transaction Revenue: $1.8B · 31% Transaction Revenue$1.8B31% Revenue: $5.9B Revenue$5.9B +8% Y/Y Gross profit: $4.2B · 71% margin Gross profit$4.2B71% margin Cost of revenue: $1.7B · 29% of revenue Cost of revenue$1.7B29% of revenue Operating profit: $2.1B · 36% margin Operating profit$2.1B36% margin +13% Y/Y Operating expenses: $2.1B · 35% of revenue Operating expenses$2.1B35% of revenue Net profit: $1.6B · 27% margin Net profit$1.6B27% margin +17% Y/Y Tax & other: $530.0M · 9% of revenue Tax & other$530.0M9% of revenue

Swipe sideways for the whole flow →

From $7.1B of sales to $2.1B of profit

FY2024, from the 10-K income statement and revenue by product
Relationship Revenue to Revenue: $4.4BTransaction Revenue to Revenue: $2.7BRevenue to Gross profit: $5.1BRevenue to Cost of revenue: $1.9BGross profit to Operating profit: $2.9BGross profit to Operating expenses: $2.3BOperating profit to Net profit: $2.1BOperating profit to Tax & other: $817.0M Relationship Revenue: $4.4B · 62% Relationship Revenue$4.4B62% Transaction Revenue: $2.7B · 38% Transaction Revenue$2.7B38% Revenue: $7.1B Revenue$7.1B +20% Y/Y Gross profit: $5.1B · 73% margin Gross profit$5.1B73% margin Cost of revenue: $1.9B · 27% of revenue Cost of revenue$1.9B27% of revenue Operating profit: $2.9B · 41% margin Operating profit$2.9B41% margin +35% Y/Y Operating expenses: $2.3B · 32% of revenue Operating expenses$2.3B32% of revenue Net profit: $2.1B · 29% margin Net profit$2.1B29% margin +28% Y/Y Tax & other: $817.0M · 12% of revenue Tax & other$817.0M12% of revenue

Swipe sideways for the whole flow →

From $7.7B of sales to $2.5B of profit

FY2025, from the 10-K income statement and revenue by product
Relationship Revenue to Revenue: $4.8BTransaction Revenue to Revenue: $2.9BRevenue to Gross profit: $5.7BRevenue to Cost of revenue: $2.0BGross profit to Operating profit: $3.4BGross profit to Operating expenses: $2.4BOperating profit to Net profit: $2.5BOperating profit to Tax & other: $892.0M Relationship Revenue: $4.8B · 63% Relationship Revenue$4.8B63% Transaction Revenue: $2.9B · 37% Transaction Revenue$2.9B37% Revenue: $7.7B Revenue$7.7B +9% Y/Y Gross profit: $5.7B · 74% margin Gross profit$5.7B74% margin Cost of revenue: $2.0B · 26% of revenue Cost of revenue$2.0B26% of revenue Operating profit: $3.4B · 43% margin Operating profit$3.4B43% margin +17% Y/Y Operating expenses: $2.4B · 31% of revenue Operating expenses$2.4B31% of revenue Net profit: $2.5B · 32% margin Net profit$2.5B32% margin +19% Y/Y Tax & other: $892.0M · 12% of revenue Tax & other$892.0M12% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 3
  • ✓
    Net margin above the peer median35.3% vs 20.4%
  • ✓
    Return on equity above 15%88.2%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 7.4% → 31.9%

Balance sheet

3 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 14.3× interest expense
  • !
    Debt larger than equityDebt / equity 2.11 on the latest balance sheet (peer median 0.70)
  • ✓
    Current assets cover current liabilitiesCurrent ratio 1.29
  • ✓
    Net debt under 3 years of free cash flow$5.3B net debt, 1.8 years
Debt / equity at each year end, FY2016 to FY2025: 12.37 → 1.73
What the debt is made of ↓

Cash and shareholders

4 of 4
  • ✓
    Free cash flow positive in every one of 10 years$2.6B last year
  • ✓
    Share count down over 5 years−5.0%
  • ✓
    Dividend per share up over 5 years$2.24 → $3.76
  • ✓
    Cash from operations above net income$2.9B vs $2.5B
Free cash flow, FY2016 to FY2025: 1.1B → 2.6B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

Debt

$2.3B of principal due, schedule of Sep 30, 2026

Repayment schedule →

From the balance sheet in the latest 10-K or 10-Q (XBRL). When each part falls due, year by year, and the debt note's own lines are on the Debt tab.

Revenue and net income, FY2016 to FY2025

Revenue 7.7B Net income 2.5B
FY2016 revenue 3.6B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001193125-19-048576 FY2016 net income 266.6M · NetIncomeLoss, 0001193125-19-048576 3.6B FY2016 FY2017 revenue 4.2B · Revenues, 0001193125-18-058986 FY2017 net income 1.0B · NetIncomeLoss, 0001059556-20-000005 4.2B FY2017 FY2018 revenue 4.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001059556-21-000010 FY2018 net income 1.3B · NetIncomeLoss, 0001059556-21-000010 4.4B FY2018 FY2019 revenue 4.8B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001059556-22-000012 FY2019 net income 1.4B · NetIncomeLoss, 0001059556-22-000012 4.8B FY2019 FY2020 revenue 5.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001059556-23-000016 FY2020 net income 1.8B · NetIncomeLoss, 0001059556-23-000016 5.4B FY2020 FY2021 revenue 6.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001059556-24-000017 FY2021 net income 2.2B · NetIncomeLoss, 0001059556-24-000017 6.2B FY2021 FY2022 revenue 5.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001059556-25-000025 FY2022 net income 1.4B · NetIncomeLoss, 0001059556-25-000025 5.5B FY2022 FY2023 revenue 5.9B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001628280-26-009136 FY2023 net income 1.6B · NetIncomeLoss, 0001628280-26-009136 5.9B FY2023 FY2024 revenue 7.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001628280-26-009136 FY2024 net income 2.1B · NetIncomeLoss, 0001628280-26-009136 7.1B FY2024 FY2025 revenue 7.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0001628280-26-009136 FY2025 net income 2.5B · NetIncomeLoss, 0001628280-26-009136 7.7B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

Statements

Income statement, balance sheet and cash flow

XBRL, each 10-K and 10-Q

MCO's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue7.7B
FY2016: 3.6BFY2017: 4.2BFY2018: 4.4BFY2019: 4.8BFY2020: 5.4BFY2021: 6.2BFY2022: 5.5BFY2023: 5.9BFY2024: 7.1BFY2025: 7.7B FY2017FY2019FY2021FY2023FY2025
Net income2.5B
FY2016: 266.6MFY2017: 1.0BFY2018: 1.3BFY2019: 1.4BFY2020: 1.8BFY2021: 2.2BFY2022: 1.4BFY2023: 1.6BFY2024: 2.1BFY2025: 2.5B FY2017FY2019FY2021FY2023FY2025
Free cash flow2.6B
FY2016: 1.1BFY2017: 664.0MFY2018: 1.4BFY2019: 1.6BFY2020: 2.0BFY2021: 1.9BFY2022: 1.2BFY2023: 1.9BFY2024: 2.5BFY2025: 2.6B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)13.67
FY2016: 1.36FY2017: 5.15FY2018: 6.74FY2019: 7.42FY2020: 9.39FY2021: 11.78FY2022: 7.44FY2023: 8.73FY2024: 11.26FY2025: 13.67 FY2017FY2019FY2021FY2023FY2025
Dividend per share3.76
FY2016: 1.49FY2017: 1.52FY2018: 1.76FY2019: 2.00FY2020: 2.24FY2021: 2.48FY2022: 2.80FY2023: 3.08FY2024: 3.40FY2025: 3.76 FY2017FY2019FY2021FY2023FY2025
Diluted shares179.9M
FY2016: 195.4MFY2017: 194.2MFY2018: 194.4MFY2019: 191.6MFY2020: 189.3MFY2021: 187.9MFY2022: 184.7MFY2023: 184.0MFY2024: 182.7MFY2025: 179.9M FY2017FY2019FY2021FY2023FY2025

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
MIS 4.1B53.4% +8.6%
MA 3.6B46.6% +9.2%

10-K 0001628280-26-009136, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Relationship Revenue 4.8B62.7% +10.0%
Transaction Revenue 2.9B37.3% +7.1%

10-K 0001628280-26-009136, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
U.S. Plans 4.2B54.0% +8.7%
Non-U.S. 3.5B46.0% +9.1%
EMEA 2.4B30.8% +9.3%
Asia-Pacific 699.0M9.1% +11.1%
Americas 472.0M6.1% +5.1%

10-K 0001628280-26-009136, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue3.6B4.2B4.4B4.8B5.4B6.2B5.5B5.9B7.1B7.7B
Cost of revenue-1.2B1.2B1.4B1.5B1.6B1.6B1.7B1.9B2.0B
R&D40.1M42.0M51.1M-------
SG&A931.2M986.0M1.1B1.2B1.2B1.5B1.5B1.6B1.7B1.8B
Operating income650.9M1.8B1.9B2.0B2.4B2.8B1.9B2.1B2.9B3.4B
Interest expense----132.0M162.0M198.0M281.0M280.0M235.0M
Pretax income558.0M1.8B1.7B1.8B2.2B2.8B1.8B1.9B2.7B3.1B
Income tax282.2M779.0M352.0M381.0M452.0M541.0M386.0M327.0M640.0M668.0M
Net income266.6M1.0B1.3B1.4B1.8B2.2B1.4B1.6B2.1B2.5B
EPS (diluted)1.365.156.747.429.3911.787.448.7311.2613.67
Diluted shares195.4M194.2M194.4M191.6M189.3M187.9M184.7M184.0M182.7M179.9M
Depreciation & amortization126.7M158.0M192.0M200.0M220.0M257.0M331.0M373.0M431.0M480.0M
EBITDA777.6M2.0B2.1B2.2B2.6B3.1B2.2B2.5B3.3B3.8B
Operating margin18.1%43.3%42.0%41.4%44.5%45.7%34.4%36.1%40.6%43.4%
Net margin7.4%23.8%29.5%29.4%33.1%35.6%25.1%27.2%29.0%31.9%
Revenue growth-+16.6%+5.7%+8.7%+11.2%+15.8%-12.1%+8.2%+19.8%+8.9%
EPS growth-+279%+30.9%+10.1%+26.5%+25.5%-36.8%+17.3%+29.0%+21.4%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash2.1B1.1B1.7B1.8B2.6B1.8B1.8B2.1B2.4B2.4B
Short-term investments173.4M111.8M133.0M98.0M99.0M91.0M90.0M63.0M566.0M64.0M
Receivables887.4M1.1B1.3B1.4B1.4B1.7B1.7B1.7B1.8B2.0B
Current assets3.3B2.6B3.4B3.7B4.5B4.0B4.1B4.3B5.3B5.2B
Property & equipment325.9M325.1M320.0M292.0M278.0M347.0M502.0M603.0M656.0M722.0M
Goodwill1.0B3.8B3.8B3.7B4.6B6.0B5.8B6.0B6.0B6.4B
Total assets5.3B8.6B9.5B10.3B12.4B14.7B14.3B14.6B15.5B15.8B
Accounts payable28.4M21.8M30.0M38.0M39.0M47.0M52.0M23.0M53.0M62.0M
Current liabilities2.4B2.1B2.1B1.9B2.2B2.5B2.4B2.5B3.6B3.0B
Total debt3.4B5.5B5.7B5.6B6.4B7.4B7.4B7.0B7.4B7.0B
Total liabilities6.4B8.7B8.9B9.4B10.6B11.8B11.7B11.1B11.8B11.6B
Shareholders' equity-1.2B-327.7M459.0M612.0M1.6B2.7B2.5B3.3B3.6B4.1B
Retained earnings6.7B7.5B8.6B9.7B11.0B12.8B13.6B14.7B16.1B17.9B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow1.3B755.0M1.5B1.7B2.1B2.0B1.5B2.2B2.8B2.9B
Capital spending115.2M91.0M91.0M69.0M103.0M139.0M283.0M271.0M317.0M326.0M
Free cash flow1.1B664.0M1.4B1.6B2.0B1.9B1.2B1.9B2.5B2.6B
Stock-based pay (added back)98.1M123.0M130.0M136.0M154.0M175.0M169.0M193.0M220.0M232.0M
Dividends paid285.1M290.4M337.2M378.0M420.0M463.0M515.0M564.0M620.0M701.0M
Buybacks738.8M200.0M203.0M991.0M503.0M750.0M983.0M490.0M1.3B1.6B
Acquisitions80.8M3.5B289.0M162.0M897.0M2.2B97.0M3.0M221.0M227.0M
Investing cash flow102.0M-3.4B-406.0M36.0M-1.1B-2.6B-262.0M-247.0M-1.1B2.0M
Financing cash flow-1.0B1.6B-412.0M-1.6B-351.0M-122.0M-1.2B-1.6B-1.4B-3.1B
Dividend per share1.491.521.762.002.242.482.803.083.403.76

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)98.1M123.0M130.0M136.0M154.0M175.0M169.0M193.0M220.0M232.0M
Stock-based pay / revenue2.7%2.9%2.9%2.8%2.9%2.8%3.1%3.3%3.1%3.0%
Operating lease cost---97.0M96.0M98.0M102.0M93.0M88.0M88.0M
Operating lease cash paid---106.0M108.0M113.0M118.0M119.0M120.0M117.0M
Right-of-use assets---456.0M393.0M438.0M346.0M277.0M216.0M282.0M
Operating lease liabilities---574.0M521.0M560.0M474.0M414.0M318.0M357.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

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