Financials · MCO

Moody's Corporation (MCO) financials

For the twelve months ended Sep 30, 2026, Moody's Corporation reported $8.18B of revenue and $2.88B of net income.

Revenue, TTM
$8.18B
Revenue growth, YoY
+9.0%
Net income, TTM
$2.88B
Net income growth, YoY
+28.5%
Net margin
35.3%
Free cash flow, TTM
$2.98B
EPS, diluted, TTM
$16.40
EPS growth, YoY
+31.9%
Cash
$1.51B
Total debt
$6.91B
P/E
30.24
P/S
10.66
Market cap
$87.18B
Annual revenue$7.72B
FY2016FY2025
Annual net income$2.46B
FY2016FY2025
Annual free cash flow$2.58B
FY2016FY2025

MCO revenue and earnings growth

MCO revenueQ3 2026$2.02B

Quarter YoY
+0.8%
QoQ
-7.4%
FY YoY
+8.9%
5Y CAGR
+7.5%
10Y CAGR
+8.3%

MCO revenue was $2.02B in fiscal Q3 2026 (ended Sep 30, 2026), up 0.8% from a year earlier and down 7.4% from the prior quarter. For the full fiscal 2025 it was $7.72B, up 8.9% from fiscal 2024. Compound annual growth was +7.5% over 5 years and +8.3% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MCO net incomeQ3 2026$734.00M

Quarter YoY
+13.6%
QoQ
-16.4%
FY YoY
+19.5%
5Y CAGR
+6.7%
10Y CAGR
+10.1%

MCO net income was $734.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 13.6% from a year earlier and down 16.4% from the prior quarter. For the full fiscal 2025 it was $2.46B, up 19.5% from fiscal 2024. Compound annual growth was +6.7% over 5 years and +10.1% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MCO EPSQ3 2026$4.24

Quarter YoY
+17.8%
QoQ
-15.7%
FY YoY
+21.4%
5Y CAGR
+7.8%
10Y CAGR
+11.4%

MCO diluted EPS was $4.24 in fiscal Q3 2026 (ended Sep 30, 2026), up 17.8% from a year earlier and down 15.7% from the prior quarter. For the full fiscal 2025 it was $13.67, up 21.4% from fiscal 2024. Compound annual growth was +7.8% over 5 years and +11.4% over 10 years.

MCO free cash flowQ3 2026$668.00M

Quarter YoY
+1.5%
QoQ
-2.9%
FY YoY
+2.1%
5Y CAGR
+4.7%
10Y CAGR
+8.8%

MCO free cash flow was $668.00M in fiscal Q3 2026 (ended Sep 30, 2026), up 1.5% from a year earlier and down 2.9% from the prior quarter. For the full fiscal 2025 it was $2.58B, up 2.1% from fiscal 2024. Compound annual growth was +4.7% over 5 years and +8.8% over 10 years. It rose in 7 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$7.72B$7.09B$5.92B$5.47B$6.22B$5.37B$4.83B$4.44B$4.20B$3.60B
Cost of revenue$1.97B$1.95B$1.69B$1.61B$1.64B$1.48B$1.39B$1.25B$1.22B-
Gross profit$5.75B$5.14B$4.23B$3.85B$4.58B$3.90B$3.44B$3.20B$2.99B-
Research and development-------$51.10M$42.00M$40.10M
Selling, general and admin$1.80B$1.74B$1.63B$1.53B$1.48B$1.23B$1.17B$1.08B$986.00M$931.20M
Operating income$3.35B$2.88B$2.14B$1.88B$2.84B$2.39B$2.00B$1.87B$1.82B$650.90M
Pre-tax income$3.13B$2.70B$1.94B$1.76B$2.75B$2.23B$1.81B$1.67B$1.79B$558.00M
Income tax$668.00M$640.00M$327.00M$386.00M$541.00M$452.00M$381.00M$352.00M$779.00M$282.20M
Net income$2.46B$2.06B$1.61B$1.37B$2.21B$1.78B$1.42B$1.31B$1.00B$266.60M
EPS, basic$13.73$11.32$8.77$7.47$11.88$9.48$7.51$6.84$5.24$1.38
EPS, diluted$13.67$11.26$8.73$7.44$11.78$9.39$7.42$6.74$5.15$1.36
Diluted shares179.9M182.7M184.0M184.7M187.9M189.3M191.6M194.4M194.2M195.4M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$2.38B$2.41B$2.13B$1.77B$1.81B$2.60B$1.83B$1.69B$1.07B$2.05B
Short-term investments$64.00M$566.00M$63.00M$90.00M$91.00M$99.00M$98.00M$133.00M$111.80M$173.40M
Receivables$2.02B$1.80B$1.66B$1.65B$1.72B$1.43B$1.42B$1.29B$1.15B$887.40M
Current assets$5.19B$5.29B$4.34B$4.09B$4.01B$4.51B$3.68B$3.39B$2.58B$3.25B
Goodwill$6.37B$5.99B$5.96B$5.84B$6.00B$4.56B$3.72B$3.78B$3.75B$1.02B
Total assets$15.83B$15.51B$14.62B$14.35B$14.68B$12.41B$10.27B$9.53B$8.59B$5.33B
Current liabilities$2.98B$3.60B$2.50B$2.38B$2.50B$2.22B$1.91B$2.10B$2.06B$2.43B
Short-term debt$0$697.00M$0$0$0$0$0$450.00M$429.40M$300.00M
Long-term debt$6.99B$6.73B$7.00B$7.39B$7.41B$6.42B$5.58B$5.23B$5.11B$3.06B
Total debt$6.99B$7.43B$7.00B$7.39B$7.41B$6.42B$5.58B$5.68B$5.54B$3.36B
Total liabilities$11.63B$11.78B$11.15B$11.66B$11.76B$10.65B$9.43B$8.87B$8.71B$6.35B
Shareholders' equity$4.05B$3.73B$3.48B$2.69B$2.92B$1.76B$831.00M$656.00M-$115.00M-$1.03B

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$2.90B$2.84B$2.15B$1.47B$2.00B$2.15B$1.68B$1.46B$755.00M$1.26B
Capital expenditures$326.00M$317.00M$271.00M$283.00M$139.00M$103.00M$69.00M$91.00M$91.00M$115.20M
Free cash flow$2.58B$2.52B$1.88B$1.19B$1.87B$2.04B$1.61B$1.37B$664.00M$1.14B
Investing cash flow$2.00M-$1.06B-$247.00M-$262.00M-$2.62B-$1.08B$36.00M-$406.00M-$3.42B$102.00M
Financing cash flow-$3.06B-$1.45B-$1.58B-$1.21B-$122.00M-$351.00M-$1.56B-$412.00M$1.60B-$1.04B
Dividends paid$701.00M$620.00M$564.00M$515.00M$463.00M$420.00M$378.00M$337.00M$290.00M$285.10M
Share repurchases$1.61B$1.29B$490.00M$983.00M$750.00M$503.00M$991.00M$203.00M$200.00M$738.80M
Stock-based compensation$232.00M$220.00M$193.00M$169.00M$175.00M$154.00M$136.00M$130.00M$123.00M$98.10M
Depreciation and amortization$480.00M$431.00M$373.00M$331.00M$257.00M$220.00M$200.00M$192.00M$158.00M$126.70M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY8.9%19.8%8.2%-12.1%15.8%11.2%8.7%5.7%16.6%3.4%
Net income growth, YoY19.5%28.1%17.0%-37.9%24.5%25.0%8.5%30.9%275.5%-71.7%
EPS growth, YoY21.4%29.0%17.3%-36.8%25.5%26.5%10.1%30.9%278.7%-70.6%
Gross margin74.4%72.6%71.5%70.5%73.7%72.5%71.3%72.0%71.1%-
Operating margin43.4%40.6%36.1%34.4%45.7%44.5%41.4%42.0%43.3%18.1%
Net margin31.9%29.0%27.2%25.1%35.6%33.1%29.4%29.5%23.8%7.4%
Free cash flow margin33.4%35.6%31.8%21.8%30.0%38.0%33.3%30.8%15.8%31.7%
Return on equity60.7%55.2%46.2%51.1%75.9%100.9%171.1%199.7%--
Return on assets15.5%13.3%11.0%9.6%15.1%14.3%13.9%13.8%11.6%5.0%
Current ratio1.741.471.741.721.612.031.921.611.251.34
Debt to equity1.731.992.012.752.543.646.728.65--

Source: XBRL data Moody's Corporation files with the SEC, latest filing dated Oct 21, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MCO peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MCO$8.18B+9.0%$2.88B35.3%$87.18B
AXP$77.59B+10.2%$12.26B15.8%$215.24B
SPGI$17.21B+18.2%$4.99B29.0%$135.62B
NU$15.77B+37.0%$2.87B18.2%$58.39B
RKT$11.46B+90.4%$1.30B11.4%$42.74B
COIN$5.63B-26.6%-$701.62M-12.5%$35.68B
AFRM$4.59B+32.7%$2.01B43.9%$23.08B
SYF$19.31B+2.6%$3.33B17.3%$22.96B
EFX$6.59B+10.9%$742.90M11.3%$22.19B

MCO FAQ

9 questions
  • What is MCO revenue?
    Moody's Corporation (MCO) reported $8.18B of revenue for the twelve months ended Sep 30, 2026. That is up 9.0% from the year before. Revenue for fiscal 2025 was $7.72B.
  • Is MCO profitable?
    Yes. Moody's Corporation earned $2.88B in net income for the twelve months ended Sep 30, 2026, a net margin of 35.3%.
  • How much cash and debt does MCO have?
    Moody's Corporation reported $1.51B in cash and cash equivalents and $6.91B of debt on its most recent balance sheet in SEC filings.
  • How fast is MCO revenue growing?
    Moody's Corporation's revenue changed +8.9% in fiscal 2025, to $7.72B. Its compound annual growth rate was +7.5% over 5 years and +8.3% over 10 years.
  • What is MCO gross margin?
    Moody's Corporation's gross profit was $6.10B on $8.18B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 74.6%.
  • What is MCO free cash flow?
    Moody's Corporation generated $2.98B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $3.33B less capital expenditures.
  • What is MCO earnings per share?
    Diluted earnings per share were $16.40 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MCO last report financial results?
    The latest statements here come from Moody's Corporation's 10-Q filed on Oct 21, 2026, covering the period ended Sep 30, 2026.
  • Where does this MCO financial data come from?
    Quantisnow builds these statements from the structured XBRL data Moody's Corporation files with the SEC. It is provided for information only and is not investment advice.