financial statements

The full income statement, balance sheet, and cash-flow statement for Moody's Corporation (MCO), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	7.72B YoY+8.9%	7.09B YoY+19.8%	5.92B YoY+8.2%	5.47B YoY-12.1%	6.22B YoY+15.8%
Cost of revenue	1.97B YoY+1.4%	1.95B YoY+15.3%	1.69B YoY+4.6%	1.61B YoY-1.5%	1.64B YoY+11.0%
Selling, general & administrative	1.80B YoY+3.9%	1.74B YoY+6.3%	1.63B YoY+6.9%	1.53B YoY+3.2%	1.48B YoY+20.4%
Restructuring	108M YoY+83.1%	59.0M YoY-32.2%	87.0M YoY-23.7%	114M	0.00 YoY-100.0%
Amortization of intangibles	215M YoY+8.6%	198M YoY+0.0%	198M YoY-1.0%	200M YoY+26.6%	158M YoY+27.4%
Provision for credit losses	12.0M YoY-20.0%	15.0M YoY-31.8%	22.0M YoY-12.0%	25.0M YoY+92.3%	13.0M YoY-50.0%
Operating income	3.35B YoY+16.6%	2.88B YoY+34.5%	2.14B YoY+13.5%	1.88B YoY-33.8%	2.84B YoY+19.1%
Other non-operating income	-31.0M YoY-150.8%	61.0M YoY+24.5%	49.0M YoY+28.9%	38.0M YoY-53.7%	82.0M YoY+78.3%
Equity-method income	20.0M YoY+33.3%	15.0M YoY-21.1%	19.0M YoY+11.8%	17.0M YoY-71.7%	60.0M YoY+900.0%
Pre-tax income	3.13B YoY+16.0%	2.70B YoY+39.5%	1.94B YoY+9.9%	1.76B YoY-36.1%	2.75B YoY+23.6%
Income tax	668M YoY+4.4%	640M YoY+95.7%	327M YoY-15.3%	386M YoY-28.7%	541M YoY+19.7%
	2.46B YoY+19.5%	2.06B YoY+28.1%	1.61B YoY+17.0%	1.37B YoY-37.9%	2.21B YoY+24.5%
Net income to non-controlling interest	3.00M YoY+200.0%	1.00M YoY+0.0%	1.00M	0.00	0.00 YoY+100.0%
	$13.67 YoY+21.4%	$11.26 YoY+29.0%	$8.73 YoY+17.3%	$7.44 YoY-36.8%	$11.78 YoY+25.5%
EPS (basic)	$13.73 YoY+21.3%	$11.32 YoY+29.1%	$8.77 YoY+17.4%	$7.47 YoY-37.1%	$11.88 YoY+25.3%
Weighted-avg shares (basic)	179M YoY-1.5%	182M YoY-0.8%	183M YoY-0.4%	184M YoY-1.3%	186M YoY-0.6%
Weighted-avg shares (diluted)	180M YoY-1.5%	183M YoY-0.7%	184M YoY-0.4%	185M YoY-1.7%	188M YoY-0.7%
Dividends per share	$3.76 YoY+10.6%	$3.40 YoY+10.4%	$3.08 YoY+10.0%	$2.80 YoY+12.9%	$2.48 YoY+10.7%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.19B YoY-2.0%	5.29B YoY+21.9%	4.34B YoY+6.0%	4.09B YoY+2.1%	4.01B YoY-11.0%
Cash & equivalents	2.38B YoY-1.0%	2.41B YoY+13.1%	2.13B YoY+20.4%	1.77B YoY-2.3%	1.81B YoY-30.3%
Short-term investments	64.0M YoY-88.7%	566M YoY+798.4%	63.0M YoY-30.0%	90.0M YoY-1.1%	91.0M YoY-8.1%
Accounts receivable	2.02B YoY+12.4%	1.80B YoY+8.6%	1.66B YoY+0.4%	1.65B YoY-4.0%	1.72B YoY+20.3%
Prepaid expenses	184M YoY+2.8%	179M YoY+34.6%	133M YoY+11.8%	119M YoY+20.2%	99.0M YoY+8.8%
Other current assets	714M YoY+38.6%	515M YoY+5.3%	489M YoY-16.1%	583M YoY+49.9%	389M YoY+1.6%
	15.8B YoY+2.1%	15.5B YoY+6.0%	14.6B YoY+1.9%	14.3B YoY-2.3%	14.7B YoY+18.3%
Property, plant & equipment	722M YoY+10.1%	656M YoY+8.8%	603M YoY+20.1%	502M YoY+44.7%	347M YoY+24.8%
Operating lease right-of-use	282M YoY+30.6%	216M YoY-22.0%	277M YoY-19.9%	346M YoY-21.0%	438M YoY+11.5%
Goodwill	6.37B YoY+6.2%	5.99B YoY+0.6%	5.96B YoY+2.0%	5.84B YoY-2.7%	6.00B YoY+31.7%
Intangible assets	1.87B YoY-1.3%	1.89B YoY-7.8%	2.05B YoY-7.3%	2.21B YoY-10.4%	2.47B YoY+35.3%
Long-term investments	110M YoY+12.2%	98.0M YoY-2.0%	100M YoY+14.9%	87.0M YoY-2.2%	89.0M YoY+34.8%
Deferred tax assets	305M YoY+4.1%	293M YoY+13.6%	258M YoY-3.0%	266M YoY-30.7%	384M YoY+15.0%
Other non-current assets	1.10B YoY-5.6%	1.17B YoY+2.5%	1.14B YoY+4.2%	1.09B YoY+5.6%	1.03B YoY+100.8%
Total non-current assets	5.67B YoY+0.0%	5.67B YoY+0.0%	5.67B YoY+0.0%	5.67B YoY+0.0%	5.67B YoY+0.0%
	2.98B YoY-17.1%	3.60B YoY+43.9%	2.50B YoY+5.3%	2.38B YoY-4.8%	2.50B YoY+12.3%
Accounts payable	62.0M YoY+17.0%	53.0M YoY+130.4%	23.0M YoY-55.8%	52.0M YoY+10.6%	47.0M YoY+20.5%
Accrued liabilities	1.30B YoY-3.0%	1.34B YoY+24.9%	1.08B YoY+6.4%	1.01B YoY-11.5%	1.14B YoY+9.9%
Deferred revenue	1.58B YoY+8.8%	1.45B YoY+10.5%	1.32B YoY+4.6%	1.26B YoY+0.7%	1.25B YoY+14.7%
Short-term & current debt	0.00 YoY-100.0%	697M	0.00	0.00	0.00
Current lease liability	95.0M YoY-6.9%	102M YoY-5.6%	108M YoY+1.9%	106M YoY+1.0%	105M YoY+11.7%
Other current liabilities	34.6M YoY+0.0%	34.6M YoY+0.0%	34.6M YoY+0.0%	34.6M YoY+0.0%	34.6M YoY+0.0%
	11.6B YoY-1.3%	11.8B YoY+5.7%	11.1B YoY-4.4%	11.7B YoY-0.9%	11.8B YoY+10.5%
Long-term debt	6.99B YoY+3.9%	6.73B YoY-3.9%	7.00B YoY-5.3%	7.39B YoY-0.3%	7.41B YoY+15.4%
Deferred revenue (non-current)	56.0M YoY-1.8%	57.0M YoY-12.3%	65.0M YoY-13.3%	75.0M YoY-12.8%	86.0M YoY-12.2%
Non-current lease liability	262M YoY+21.3%	216M YoY-29.4%	306M YoY-16.8%	368M YoY-19.1%	455M YoY+6.6%
Deferred tax liabilities	315M YoY-29.8%	449M YoY+11.7%	402M YoY-12.0%	457M YoY-6.4%	488M YoY+20.8%
Other non-current liabilities	859M YoY+66.2%	517M YoY-23.5%	676M YoY+0.3%	674M YoY+53.9%	438M YoY-25.8%
	4.05B YoY+13.7%	3.56B YoY+7.4%	3.32B YoY+31.7%	2.52B YoY-7.6%	2.73B YoY+73.8%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	3.00M YoY+0.0%	3.00M YoY+0.0%	3.00M YoY+0.0%	3.00M YoY+0.0%	3.00M YoY+0.0%
Additional paid-in capital	1.68B YoY+15.5%	1.45B YoY+18.2%	1.23B YoY+16.5%	1.05B YoY+19.1%	885M YoY+20.4%
Retained earnings	17.9B YoY+11.1%	16.1B YoY+9.6%	14.7B YoY+7.6%	13.6B YoY+6.7%	12.8B YoY+15.9%
Treasury stock	15.0B YoY+12.4%	13.3B YoY+11.0%	12.0B YoY+4.3%	11.5B YoY+9.5%	10.5B YoY+7.8%
Accumulated other comprehensive income	-500M YoY+21.6%	-638M YoY-12.5%	-567M YoY+11.8%	-643M YoY-56.8%	-410M YoY+5.1%
Non-controlling interest	151M YoY-6.8%	162M YoY+2.5%	158M YoY-7.1%	170M YoY-10.1%	189M YoY-2.6%
Total equity incl. non-controlling	4.21B YoY+12.8%	3.73B YoY+7.2%	3.48B YoY+29.3%	2.69B YoY-7.8%	2.92B YoY+65.4%
Total liabilities & equity	15.8B YoY+2.1%	15.5B YoY+6.0%	14.6B YoY+1.9%	14.3B YoY-2.3%	14.7B YoY+18.3%
Common shares issued	343M YoY+0.0%	343M YoY+0.0%	343M YoY+0.0%	343M YoY+0.0%	343M YoY+0.0%
Shares outstanding (cover)	178M YoY-1.5%	181M YoY-1.0%	183M YoY-0.1%	183M YoY-1.5%	186M YoY-1.0%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.90B YoY+2.2%	2.84B YoY+31.9%	2.15B YoY+45.9%	1.47B YoY-26.5%	2.00B YoY-6.6%
Depreciation & amortization	480M YoY+11.4%	431M YoY+15.5%	373M YoY+12.7%	331M YoY+28.8%	257M YoY+16.8%
Share-based compensation	232M YoY+5.5%	220M YoY+14.0%	193M YoY+14.2%	169M YoY-3.4%	175M YoY+13.6%
Deferred income taxes	-17.0M YoY+72.6%	-62.0M YoY-63.2%	-38.0M YoY-179.2%	48.0M YoY+122.0%	-218M YoY-395.5%
Change in receivables	203M YoY+8.6%	187M YoY+1458.3%	12.0M YoY+233.3%	-9.00M YoY-103.3%	270M YoY+971.0%
	2.00M YoY+100.2%	-1.06B YoY-327.5%	-247M YoY+5.7%	-262M YoY+90.0%	-2.62B YoY-143.2%
Capital expenditure	326M YoY+2.8%	317M YoY+17.0%	271M YoY-4.2%	283M YoY+103.6%	139M YoY+35.0%
Acquisitions	227M YoY+2.7%	221M YoY+7266.7%	3.00M YoY-96.9%	97.0M YoY-95.5%	2.18B YoY+142.9%
Purchases of investments	188M YoY-71.1%	651M YoY+355.2%	143M YoY-41.9%	246M YoY+43.9%	171M YoY-5.5%
	-3.06B YoY-111.8%	-1.45B YoY+8.7%	-1.58B YoY-31.1%	-1.21B YoY-890.2%	-122M YoY+65.2%
Common stock repurchased	1.61B YoY+24.4%	1.29B YoY+163.7%	490M YoY-50.2%	983M YoY+31.1%	750M YoY+49.1%
Dividends paid	701M YoY+13.1%	620M YoY+9.9%	564M YoY+9.5%	515M YoY+11.2%	463M YoY+10.2%
FX effect on cash	136M YoY+334.5%	-58.0M YoY-241.5%	41.0M YoY+189.1%	-46.0M YoY+8.0%	-50.0M YoY-206.4%
Net change in cash	-24.0M YoY-108.6%	278M YoY-23.0%	361M YoY+959.5%	-42.0M YoY+94.7%	-786M YoY-202.7%
Interest paid	235M YoY-16.1%	280M YoY-0.4%	281M YoY+41.9%	198M YoY+22.2%	162M YoY+22.7%
Income taxes paid	825M YoY+34.6%	613M YoY+78.2%	344M YoY-29.5%	488M YoY-47.6%	932M YoY+81.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	91.1B YoY+6.3%	85.8B YoY+20.0%	71.5B YoY+40.0%	51.0B YoY-29.7%	72.6B YoY+33.2%
P/E	37.1× YoY-11.1%	41.7× YoY-11.8%	47.2× YoY+43.9%	32.8× YoY+0.1%	32.8× YoY+7.0%
P/S	11.8× YoY-2.4%	12.1× YoY-3.1%	12.5× YoY+39.8%	8.9× YoY-23.5%	11.7× YoY+15.1%
P/B	22.5× YoY-6.6%	24.1× YoY+7.4%	22.4× YoY-1.0%	22.6× YoY-15.0%	26.6× YoY-23.4%
P/FCF	35.4× YoY+4.0%	34.0× YoY-15.5%	40.3× YoY-10.8%	45.2× YoY+16.1%	38.9× YoY+45.8%
Earnings yield	2.7% YoY+12.5%	2.4% YoY+13.3%	2.1% YoY-30.5%	3.0% YoY-0.1%	3.0% YoY-6.5%
FCF yield	2.8% YoY-3.9%	2.9% YoY+18.4%	2.5% YoY+12.1%	2.2% YoY-13.9%	2.6% YoY-31.4%
Dividend yield	0.7% YoY+2.5%	0.7% YoY-8.9%	0.8% YoY-21.5%	1.0% YoY+58.3%	0.6% YoY-17.7%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MCO's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MCO filings on SEC EDGAR → Not investment advice.

MCO▼ financial statements

About this data

financial statements