15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 7.5% per year over the past 5 years.
Net income has grown slower than revenue (6.7% vs 7.5% per year).
Operating margin has contracted, at 43.4% in the latest year.
Free cash flow has grown 4.7% per year over the past 5 years.
Financial health
Total debt ($7.0B) exceeds cash ($2.4B); net debt is $4.6B.
Total debt has grown slower than revenue (1.7% vs 7.5% per year).
Total debt is 1.8× EBITDA.
Shareholder returns
Dividends have been paid for 9 consecutive years, consuming 28.5% of earnings and 27.2% of free cash flow.
The dividend has grown 10.8% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$7.7B
$2.5B
74.4%
43.4%
$2.6B
$7.0B
$2.4B
2024
$7.1B
$2.1B
72.6%
40.6%
$2.5B
$7.4B
$2.4B
2023
$5.9B
$1.6B
71.5%
36.1%
$1.9B
$7.0B
$2.1B
2022
$5.5B
$1.4B
70.5%
34.4%
$1.2B
$7.4B
$1.8B
2021
$6.2B
$2.2B
73.7%
45.7%
$1.9B
$7.4B
$1.8B
2020
$5.4B
$1.8B
72.5%
44.5%
$2.0B
$6.4B
$2.6B
2019
$4.8B
$1.4B
71.3%
41.4%
$1.6B
$5.6B
$1.8B
2018
$4.4B
$1.3B
72.0%
42.0%
$1.4B
$5.7B
$1.7B
2017
$4.2B
$1.0B
71.1%
43.3%
$664M
$5.5B
$1.1B
2016
$3.6B
$267M
0.0%
18.1%
$1.1B
$3.4B
$2.1B
2015
—
$941M
—
—
$1.1B
$3.4B
$1.8B
2014
—
$989M
—
—
$944M
$2.5B
$1.2B
2013
—
$805M
—
—
$885M
$2.1B
$1.9B
2012
—
$690M
—
—
$778M
$1.7B
$1.8B
2011
—
$571M
—
—
$736M
$1.2B
$760M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$2.1B
$661M
74.5%
44.3%
$844M
$7.0B
$1.5B
Dec '25
$1.9B
$610M
73.5%
40.8%
$777M
$7.0B
$2.4B
Sep '25
$2.0B
$646M
75.5%
45.7%
$658M
$7.0B
$2.2B
Jun '25
$1.9B
$578M
74.2%
43.1%
$468M
$7.0B
$2.2B
Mar '25
$1.9B
$625M
74.5%
44.0%
$672M
$6.8B
$2.1B
Dec '24
$1.7B
$395M
70.3%
33.6%
$600M
$7.4B
$2.4B
Sep '24
$1.8B
$534M
71.8%
40.7%
$631M
$7.6B
$2.6B
Jun '24
$1.8B
$552M
74.2%
42.7%
$593M
$6.9B
$2.6B
Mar '24
$1.8B
$577M
73.9%
44.8%
$697M
$6.9B
$2.5B
Dec '23
$1.5B
$340M
71.6%
33.6%
$404M
$7.0B
$2.1B
Sep '23
$1.5B
$389M
72.0%
36.3%
$391M
$6.9B
$2.0B
Jun '23
$1.5B
$377M
71.5%
36.8%
$550M
$7.2B
$2.3B
Mar '23
$1.5B
$501M
70.9%
37.7%
$535M
$7.5B
$2.1B
Dec '22
$1.3B
$246M
68.2%
23.7%
$298M
$7.4B
$1.8B
Sep '22
$1.3B
$303M
69.2%
32.4%
$265M
$7.5B
$1.7B
Jun '22
$1.4B
$327M
71.5%
36.8%
$217M
$7.7B
$1.6B
Mar '22
$1.5B
$498M
72.6%
43.1%
$411M
$7.8B
$1.8B
Dec '21
$1.5B
$427M
68.5%
33.4%
$237M
$7.4B
$1.8B
Sep '21
$1.5B
$474M
74.2%
44.3%
$403M
$7.5B
$2.2B
Jun '21
$1.6B
$577M
76.5%
51.6%
$564M
$6.4B
$2.8B
Valuation over time
How the market has priced MCO against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 38.9× (Mar '23) to 31.2× (Jun '26).
The price-to-sales ratio has risen from 9.8× (Mar '23) to 9.9× (Jun '26).
The dividend yield has fallen from 1.0% (Mar '23) to 0.9% (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is MCO growing its revenue and profit?
Over the past 5 years, Moody's Corporation's revenue has grown 7.5% per year, and net income grown 6.7% per year. These are computed facts, not advice.
How much debt does MCO have?
As of FY2025, Moody's Corporation reported $7.0B of total debt against $2.4B of cash.
What is MCO's profit margin?
In FY2025, gross margin was 74.4%, operating margin 43.4%, and net margin 31.9%.
What is MCO's P/E ratio?
As of Jun '26, Moody's Corporation traded at a price-to-earnings ratio of about 31.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.