MCONYSEServices-Consumer Credit Reporting, Collection AgenciesFiscal year ends December 31
MOODYS CORP /DE/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 23, 2026
$481.26−3.81 (-0.79%)
Close on Oct 19, 2026
- Market cap
- $83.98B
- P/E (TTM)
- 30.5
- Dividend yield
- 0.78%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
74.4%+1.9 pts over 5 years
Operating margin
43.4%−1.0 pts over 5 years
Net margin
31.9%−1.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +8.9% | +12.2% | +7.5% | +8.3% | |
| Gross profit | +11.7% | +14.2% | +8.1% | – | |
| Operating income | +16.6% | +21.2% | +7.0% | +8.6% | |
| Net income | +19.5% | +21.4% | +6.7% | +10.1% | |
| EPS, diluted | +21.4% | +22.5% | +7.8% | +11.4% | |
| Free cash flow | +2.1% | +29.3% | +4.7% | +8.8% | |
| Dividend per share | +10.6% | +10.3% | +10.9% | +10.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -29.8% | 163.0% | 64.5% | |
| Return on assets | 5.1% | 15.7% | 15.7% | |
| Current ratio | 1.34 | 2.03 | 1.74 | |
| Debt to equity | -2.75 | 4.09 | 1.73 | |
| Net debt to EBITDA | 1.69× | 1.47× | 1.20× | |
| Capex to revenue | 3.2% | 1.9% | 4.2% | |
| Diluted shares | 195M | 189M | 180M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Moodys generated $11.37B from operations and spent $9.32B on capital expenditure, dividends and share buybacks. 14% of that went back into the business.
Generated
$11.37B
Used
$9.32B
Capital expenditure$1.34B14%Dividends$2.86B31%Share buybacks$5.12B55%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin31.9%
×Asset turnover0.49×
×Equity multiplier4.11×
=Return on equity, FY202564.5%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 31.9% | 0.49× | 4.11× | 64.5% |
| FY2024 | 29.0% | 0.47× | 4.38× | 59.8% |
| FY2023 | 27.2% | 0.41× | 4.96× | 55.1% |
| FY2022 | 25.1% | 0.38× | 5.53× | 52.4% |
| FY2021 | 35.6% | 0.46× | 6.31× | 103.1% |
| FY2020 | 33.1% | 0.47× | 10.40× | 163.0% |
| FY2019 | 29.4% | 0.49× | 18.48× | 265.5% |
| FY2018 | 29.5% | 0.49× | 138.01× | 1995.4% |
| FY2017 | 23.8% | 0.60× | -8.97× | -128.9% |
| FY2016 | 7.4% | 0.69× | -5.83× | -29.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
8of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$2.46B
- Cash generatingOperating cash flow above zero$2.90B
- Return on assets improvedROA up on the prior year14.1% → 15.9%
- Earnings backed by cashOperating cash flow above net income$2.90B vs $2.46B
- Less leverageLong-term debt to assets fell43.4% → 44.2%
- Better liquidityCurrent ratio rose1.47 → 1.74
- No dilutionShare count did not rise183M → 180M
- Gross margin improvedGross margin up on the prior year72.56% → 74.44%
- More efficientAsset turnover rose0.48 → 0.50