MOODYS CORP /DE/

Listed Company

MCOCIK 0001059556NYSELarge AcceleratedServices-Consumer Credit Reporting, Collection AgenciesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.72B

Net Income

$2.46B

Total Assets

$15.83B

Equity

$4.05B

Shares Out

174.70M

Op. Cash Flow

$2.90B

Business

MOODY'S CORP /DE/ provides integrated data, analytics, and risk assessment services that help organizations identify, measure, monitor and manage financial and non-financial risks. It offers credit ratings, research, risk analysis, proprietary data sets, cloud-based software, SaaS solutions, and analytics for credit, ESG, climate, and other risk areas. The company operates through two reportable segments: Moody’s Investors Service, which issues credit ratings and related research, and Moody’s Analytics, which delivers data, analytical tools and subscription-based decision solutions. Moody’s serves global banks, insurers, investors, corporations and governments through direct sales, digital platforms and distribution partnerships worldwide.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	7,718	7,088	5,916	5,468	6,218
Operating	1,973	1,945	1,687	1,613	1,637
Selling, general and administrative	1,803	1,735	1,632	1,527	1,480
Depreciation and amortization	480	431	373	331	257
Restructuring	108	59	87	114	0
Charges related to asset abandonment	3	43	0	0	—
Total expenses	4,367	4,213	3,779	3,585	3,374
Operating income	3,351	2,875	2,137	1,883	2,844
Interest expense, net	−213	−237	−251	−231	−171
Other non-operating (expense) income, net	−31	61	49	38	82
Gain on divestiture of business	23	0	0	0	0
Non-operating expense, net	−221	−176	−202	−123	−89
Income before provision for income taxes	3,130	2,699	1,935	1,760	2,755
Provision for income taxes	668	640	327	386	541
Net income	2,462	2,059	1,608	1,374	2,214
Less: Net income attributable to noncontrolling interests	3	1	1	0	0
Net income attributable to Moodys	2,459	2,058	1,607	1,374	2,214
Basic (in USD per share)	13.73	11.32	8.77	7.47	11.88
Diluted (in USD per share)	13.67	11.26	8.73	7.44	11.78
Basic (in shares)	179	182	183	184	186
Diluted (in shares)	180	183	184	185	188

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2,384	2,408	2,130	1,769	1,811
Short-term investments	64	566	63	90	91
Accounts receivable, net of allowances for credit losses of $29 in 2025 and $32 in 2024	2,024	1,801	1,659	1,652	1,720
Other current assets	714	515	489	583	389
Total current assets	5,186	5,290	4,341	4,094	4,011
Property and equipment, net of accumulated depreciation of $1,572 in 2025 and $1,453 in 2024	722	656	603	502	347
Operating lease right-of-use assets	282	216	277	346	438
Goodwill	6,368	5,994	5,956	5,839	5,999
Intangible assets, net	1,866	1,890	2,049	2,210	2,467
Deferred tax assets, net	305	293	258	266	384
Other assets	1,101	1,166	1,138	1,092	1,034
Total assets	15,830	15,505	14,622	14,349	14,680
Accounts payable and accrued liabilities	1,304	1,344	1,076	1,011	1,142
Current portion of operating lease liabilities	95	102	108	106	105
Current portion of long-term debt	0	697	0	—	—
Deferred revenue	1,582	1,454	1,316	1,258	1,249
Total current liabilities	2,981	3,597	2,500	2,375	2,496
Non-current portion of deferred revenue	56	57	65	75	86
Total long-term debt	6,994	6,731	7,001	7,389	7,413
Deferred tax liabilities, net	315	449	402	457	488
Uncertain tax positions	158	211	196	322	388
Operating lease liabilities	262	216	306	368	455
Other liabilities	859	517	676	674	438
Total liabilities	11,625	11,778	11,146	11,660	11,764
Contingencies	—	—	—	—	—
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized; no shares issued and outstanding	0	0	0	0	0
Capital surplus	1,676	1,451	1,228	1,054	885
Retained earnings	17,853	16,071	14,659	13,618	12,762
Treasury stock, at cost; 165,359,285 and 162,593,213 shares of common stock at December 31, 2025 and December 31, 2024, respectively	−14,978	−13,322	−12,005	−11,513	—
Accumulated other comprehensive loss	−500	−638	−567	−643	−410
Total Moodys shareholders equity	4,054	3,565	3,318	2,519	2,727
Noncontrolling interests	151	162	158	170	189
Total shareholders equity	4,205	3,727	3,476	2,689	2,916
Total liabilities and shareholders equity	15,830	15,505	14,622	14,349	14,680

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	232	220	193	169	175
Deferred income taxes	−17	−62	−38	48	−218
Non-cash restructuring and abandonment-related charges	9	32	35	—	—
Provision for credit losses on accounts receivable	12	15	22	25	13
Gain on previously held/sold investments in non-consolidated affiliates	0	−7	−4	0	—
Accounts receivable	−203	−187	−12	9	−270
Other current assets	−76	−36	119	−223	−12
Other assets	36	−17	−69	−48	−26
Lease obligations	−33	−33	−26	−19	−11
Accounts payable and accrued liabilities	−55	225	76	−161	80
Deferred revenue	148	154	24	20	—
Unrecognized tax positions and other non-current tax liabilities	−57	18	−129	−33	−184
Other liabilities	−14	26	−21	3	−55
Net cash provided by operating activities	2,901	2,838	2,151	1,474	2,005
Capital additions	−326	−317	−271	−283	−139
Purchases of investments	−188	−651	−143	−246	−171
Sales and maturities of investments	690	135	162	216	145
Purchases of investments in non-consolidated affiliates	−19	−4	−5	−74	−266
Sales of/distributions from investments in non-consolidated affiliates	0	2	13	2	—
Cash received upon divestiture of business, net of cash transferred to purchaser	40	0	0	—	0
Cash paid for acquisitions, net of cash acquired	−227	−221	−3	−97	−2,179
Receipts from settlements of net investment hedges	32	0	0	220	37
Net cash provided by (used in) investing activities	2	−1,056	−247	−262	−2,619
Issuance of notes	0	496	0	988	1,672
Repayment of notes	−700	0	−500	−626	−500
Proceeds from stock-based compensation plans	49	73	50	26	38
Repurchase of shares related to stock-based compensation	−99	−91	−71	−87	−83
Treasury shares	−1,607	−1,292	−490	−983	−750
Dividends	−701	−620	−564	−515	−463
Dividends to noncontrolling interests	−5	−7	−9	−1	−5
Debt issuance costs, extinguishment costs and related fees	0	−5	0	−10	−31
Net cash used in financing activities	−3,063	−1,446	−1,584	−1,208	−122
Effect of exchange rate changes on cash and cash equivalents	136	−58	41	−46	−50
(Decrease) increase in cash and cash equivalents	−24	278	361	−42	−786

Filings

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