MOODYS CORP /DE/ (MCO) financial statements: income statement, balance sheet and cash flow
MOODYS CORP /DE/'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), MOODYS CORP /DE/ reported revenue of $7.7B (+8.9% year on year) and net income of $2.5B (+19.6% year on year).
Income statement
MOODYS CORP /DE/ income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenue
$7.7B
$7.1B
$5.9B
$5.5B
Operating
$2.0B
$1.9B
$1.7B
$1.6B
Selling, general and administrative
$1.8B
$1.7B
$1.6B
$1.5B
Depreciation and amortization
$480.0M
$431.0M
$373.0M
$331.0M
Restructuring
$108.0M
$59.0M
$87.0M
$114.0M
Charges related to asset abandonment
$3.0M
$43.0M
—
—
Total expenses
$4.4B
$4.2B
$3.8B
$3.6B
Operating income
$3.4B
$2.9B
$2.1B
$1.9B
Interest expense, net
($213.0M)
($237.0M)
($251.0M)
($231.0M)
Other non-operating (expense) income, net
($31.0M)
$61.0M
$49.0M
$38.0M
Gain on divestiture of business
$23.0M
—
—
$0
Non-operating expense, net
($221.0M)
—
—
—
Income before provision for income taxes
$3.1B
$2.7B
$1.9B
$1.8B
Provision for income taxes
$668.0M
$640.0M
$327.0M
$386.0M
Net income
$2.5B
$2.1B
$1.6B
$1.4B
Less: Net income attributable to noncontrolling interests
$3.0M
$1.0M
$1.0M
$0
Net income attributable to Moody’s
$2.5B
$2.1B
$1.6B
$1.4B
Basic (in USD per share)
$13.73
$11.32
$8.77
$7.47
Diluted (in USD per share)
$13.67
$11.26
$8.73
$7.44
Basic (in shares)
179.1M
181.8M
183.2M
183.9M
Diluted (in shares)
179.9M
182.7M
184.0M
184.7M
MOODYS CORP /DE/ income statement, quarters
Line item
Sep 30, 2026 · Q3
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Revenue
$2.0B
$2.2B
$2.1B
$2.0B
Operating
$524.0M
$518.0M
$531.0M
$492.0M
Selling, general and administrative
$442.0M
$463.0M
$477.0M
$453.0M
Depreciation and amortization
$124.0M
$126.0M
$122.0M
$123.0M
Restructuring
$27.0M
$32.0M
$27.0M
$21.0M
Charges related to asset abandonment
$0
$0
$0
$1.0M
Total expenses
$1.1B
$1.1B
$1.2B
$1.1B
Operating income
$906.0M
$1.0B
$922.0M
$917.0M
Interest expense, net
($54.0M)
($58.0M)
($66.0M)
($58.0M)
Other non-operating income, net
$1.0M
$2.0M
$14.0M
$8.0M
Gain on business divestitures
$115.0M
$181.0M
—
—
Total non-operating income (expense), net
$62.0M
$125.0M
($52.0M)
($50.0M)
Income before provision for income taxes
$968.0M
$1.2B
$870.0M
$867.0M
Provision for income taxes
$232.0M
$292.0M
$209.0M
$220.0M
Net Income
$736.0M
$879.0M
—
$647.0M
Less: Net income attributable to noncontrolling interests
$2.0M
$1.0M
—
$1.0M
Net income attributable to Moody's
$734.0M
$878.0M
$661.0M
$646.0M
Basic (in usd per share)
$4.25
$5.04
$3.74
$3.61
Diluted (in usd per share)
$4.24
$5.03
$3.73
$3.60
Basic (in shares)
172.8M
174.1M
176.8M
178.9M
Diluted (in shares)
173.3M
174.5M
177.3M
179.6M
Balance sheet
MOODYS CORP /DE/ balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$2.4B
$2.4B
$2.1B
$1.8B
Short-term investments
$64.0M
$566.0M
$63.0M
$90.0M
Accounts receivable, net of allowances for credit losses of $29 in 2025 and $32 in 2024
$2.0B
$1.8B
$1.7B
$1.7B
Other current assets
$714.0M
$515.0M
$489.0M
$583.0M
Total current assets
$5.2B
$5.3B
$4.3B
$4.1B
Property and equipment, net of accumulated depreciation of $1,572 in 2025 and $1,453 in 2024
$722.0M
$656.0M
$603.0M
$502.0M
Operating lease right-of-use assets
$282.0M
$216.0M
$277.0M
$346.0M
Goodwill
$6.4B
$6.0B
$6.0B
$5.8B
Intangible assets, net
$1.9B
$1.9B
$2.0B
$2.2B
Deferred tax assets, net
$305.0M
$293.0M
$258.0M
$266.0M
Other assets
$1.1B
$1.2B
$1.1B
$1.1B
Total assets
$15.8B
$15.5B
$14.6B
$14.3B
Accounts payable and accrued liabilities
$1.3B
$1.3B
$1.1B
$1.0B
Current portion of operating lease liabilities
$95.0M
$102.0M
$108.0M
$106.0M
Current portion of long-term debt
$0
$697.0M
—
—
Deferred revenue
$1.6B
$1.5B
$1.3B
$1.3B
Total current liabilities
$3.0B
$3.6B
$2.5B
$2.4B
Non-current portion of deferred revenue
$56.0M
$57.0M
$65.0M
$75.0M
Total long-term debt
$7.0B
$6.7B
$7.0B
$7.4B
Deferred tax liabilities, net
$315.0M
$449.0M
$402.0M
$457.0M
Uncertain tax positions
$158.0M
$211.0M
$196.0M
$322.0M
Operating lease liabilities
$262.0M
$216.0M
$306.0M
$368.0M
Other liabilities
$859.0M
$517.0M
$676.0M
$674.0M
Total liabilities
$11.6B
$11.8B
$11.1B
$11.7B
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized; no shares issued and outstanding
$0.00
$0.00
$0.00
$0.00
Common stock
$3.0M
$3.0M
$3.0M
$3.0M
Capital surplus
$1.7B
$1.5B
$1.2B
$1.1B
Retained earnings
$17.9B
$16.1B
$14.7B
$13.6B
Treasury stock, at cost; 165,359,285 and 162,593,213 shares of common stock at December 31, 2025 and December 31, 2024, respectively
-15.0B
-13.3B
-12.0B
—
Accumulated other comprehensive loss
($500.0M)
($638.0M)
($567.0M)
($643.0M)
Total Moody’s shareholders’ equity
$4.1B
$3.6B
$3.3B
$2.5B
Noncontrolling interests
$151.0M
$162.0M
$158.0M
$170.0M
Total shareholders’ equity
$4.2B
$3.7B
$3.5B
$2.7B
Total liabilities and shareholders’ equity
$15.8B
$15.5B
$14.6B
$14.3B
MOODYS CORP /DE/ balance sheet, quarters
Line item
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Cash and cash equivalents
$1.5B
$1.5B
$1.5B
$2.2B
Short-term investments
$108.0M
$29.0M
$41.0M
$78.0M
Accounts receivable, net of allowance for credit losses of $29 in 2026 and $29 in 2025
$1.8B
$1.9B
$2.0B
$1.8B
Other current assets
$773.0M
$567.0M
$660.0M
$566.0M
Total current assets
$4.2B
$4.0B
$4.2B
$4.6B
Property and equipment, net of accumulated depreciation of $1,650 in 2026 and $1,572 in 2025
$782.0M
$754.0M
$735.0M
$712.0M
Operating lease right-of-use assets
$507.0M
$504.0M
$278.0M
$300.0M
Goodwill
$6.3B
$6.3B
$6.3B
$6.5B
Intangible assets, net
$1.7B
$1.7B
$1.8B
$1.9B
Deferred tax assets, net
$236.0M
$277.0M
$249.0M
$288.0M
Other assets
$1.1B
$1.1B
$1.1B
$1.1B
Total assets
$14.8B
$14.7B
$14.7B
$15.4B
Accounts payable and accrued liabilities
$1.2B
$1.1B
$1.2B
$1.0B
Current portion of operating lease liabilities
$93.0M
$93.0M
$94.0M
$98.0M
Current portion of long-term debt
$568.0M
$571.0M
$576.0M
$0
Deferred revenue
$1.4B
$1.6B
$1.8B
$1.4B
Total current liabilities
$3.3B
$3.3B
$3.6B
$2.5B
Non-current portion of deferred revenue
$53.0M
$53.0M
$54.0M
$58.0M
Long-term debt
$6.3B
$6.4B
$6.4B
$7.0B
Deferred tax liabilities, net
$340.0M
$292.0M
$311.0M
$348.0M
Uncertain tax positions
$167.0M
$170.0M
$164.0M
$232.0M
Operating lease liabilities
$488.0M
$483.0M
$256.0M
$282.0M
Other liabilities
$745.0M
$791.0M
$774.0M
$901.0M
Total liabilities
$11.4B
$11.5B
$11.6B
$11.3B
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized; no shares issued and outstanding
$0.00
$0.00
$0.00
$0.00
Common stock
$3.0M
$3.0M
$3.0M
$3.0M
Capital surplus
$1.8B
$1.8B
$1.7B
$1.6B
Retained earnings
$19.6B
$19.0B
$18.3B
$17.4B
Treasury stock, at cost; 170,478,190 and 165,359,285 shares of common stock at September 30, 2026 and December 31, 2025, respectively
-17.6B
-17.2B
-16.5B
-14.5B
Accumulated other comprehensive loss
($541.0M)
($554.0M)
($519.0M)
($538.0M)
Total Moody's shareholders' equity
$3.3B
$3.0B
$3.0B
$4.0B
Noncontrolling interests
$144.0M
$141.0M
$149.0M
$155.0M
Total shareholders' equity
$3.4B
$3.2B
$3.1B
$4.1B
Total liabilities, noncontrolling interests and shareholders' equity
$14.8B
$14.7B
$14.7B
$15.4B
Cash flow statement
MOODYS CORP /DE/ cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net income
$2.5B
$2.1B
$1.6B
$1.4B
Depreciation and amortization
$480.0M
$431.0M
$373.0M
$331.0M
Stock-based compensation
$232.0M
$220.0M
$193.0M
$169.0M
Deferred income taxes
($17.0M)
($62.0M)
($38.0M)
$48.0M
Non-cash restructuring and abandonment-related charges
$9.0M
—
—
—
Provision for credit losses on accounts receivable
$12.0M
$15.0M
$22.0M
—
Gain on previously held/sold investments in non-consolidated affiliates
$0
($7.0M)
—
—
Gain on divestiture of business
($23.0M)
—
—
$0
Accounts receivable
($203.0M)
($187.0M)
($12.0M)
$34.0M
Other current assets
($76.0M)
($36.0M)
$119.0M
($223.0M)
Other assets
$36.0M
($17.0M)
($69.0M)
($48.0M)
Lease obligations
($33.0M)
($33.0M)
($26.0M)
($19.0M)
Accounts payable and accrued liabilities
($55.0M)
$225.0M
$76.0M
($161.0M)
Deferred revenue
$148.0M
$154.0M
$24.0M
$20.0M
Unrecognized tax positions and other non-current tax liabilities
($57.0M)
$18.0M
($129.0M)
($33.0M)
Other liabilities
($14.0M)
$26.0M
($21.0M)
$3.0M
Net cash provided by operating activities
$2.9B
$2.8B
$2.2B
$1.5B
Capital additions
($326.0M)
($317.0M)
($271.0M)
($283.0M)
Purchases of investments
($188.0M)
($651.0M)
($143.0M)
($320.0M)
Sales and maturities of investments
$690.0M
$135.0M
$162.0M
$218.0M
Purchases of investments in non-consolidated affiliates
($19.0M)
($4.0M)
($5.0M)
—
Sales of/distributions from investments in non-consolidated affiliates
$0
$2.0M
—
—
Cash received upon divestiture of business, net of cash transferred to purchaser
$40.0M
—
—
—
Cash paid for acquisitions, net of cash acquired
($227.0M)
($221.0M)
($3.0M)
($97.0M)
Receipts from settlements of net investment hedges
$32.0M
$0
$0
$220.0M
Net cash provided by (used in) investing activities
$2.0M
($1.1B)
($247.0M)
($262.0M)
Issuance of notes
$0
$496.0M
$0
$988.0M
Repayment of notes
($700.0M)
$0
($500.0M)
($626.0M)
Proceeds from stock-based compensation plans
$49.0M
$73.0M
$50.0M
$26.0M
Repurchase of shares related to stock-based compensation
-99.0M
-91.0M
-71.0M
-87.0M
Treasury shares
-1.6B
-1.3B
-490.0M
-983.0M
Dividends
($701.0M)
($620.0M)
($564.0M)
($515.0M)
Dividends to noncontrolling interests
($5.0M)
($7.0M)
($9.0M)
($1.0M)
Debt issuance costs, extinguishment costs and related fees
$0
($5.0M)
$0
($10.0M)
Net cash used in financing activities
($3.1B)
($1.4B)
($1.6B)
($1.2B)
Effect of exchange rate changes on cash and cash equivalents
$136.0M
($58.0M)
$41.0M
($46.0M)
(Decrease) increase in cash and cash equivalents
($24.0M)
$278.0M
$361.0M
($42.0M)
Cash and cash equivalents, beginning of period
$2.4B
$2.1B
$1.8B
$1.8B
Cash and cash equivalents, end of period
$2.4B
$2.4B
$2.1B
$1.8B
MOODYS CORP /DE/ cash flow statement, quarters
Line item
Sep 30, 2026 · YTD
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Net Income
$2.3B
$1.5B
$661.0M
$1.9B
Depreciation and amortization
$372.0M
$248.0M
$122.0M
$356.0M
Stock-based compensation
$175.0M
$117.0M
$58.0M
$174.0M
Deferred income taxes
$50.0M
($28.0M)
$23.0M
$40.0M
Non-cash restructuring and abandonment-related charges
$3.0M
$2.0M
$1.0M
$8.0M
Provision for credit losses on accounts receivable
$9.0M
$7.0M
$4.0M
$11.0M
Gain on business divestitures
($296.0M)
($181.0M)
—
—
Accounts receivable
$166.0M
$80.0M
($47.0M)
$63.0M
Other current assets
($5.0M)
$87.0M
$60.0M
$13.0M
Other assets
$1.0M
$5.0M
($23.0M)
($16.0M)
Lease obligations
($2.0M)
($3.0M)
($3.0M)
($28.0M)
Accounts payable and accrued liabilities
($123.0M)
($193.0M)
($175.0M)
($317.0M)
Deferred revenue
($172.0M)
$20.0M
$253.0M
($130.0M)
Uncertain tax positions and other non-current tax liabilities
$10.0M
$13.0M
$7.0M
$17.0M
Other liabilities
$7.0M
$4.0M
($2.0M)
$1.0M
Net cash provided by operating activities
$2.5B
$1.7B
$939.0M
$2.0B
Capital additions
($271.0M)
($186.0M)
($95.0M)
($245.0M)
Purchases of investments
($165.0M)
($74.0M)
($38.0M)
($158.0M)
Sales and maturities of investments
$133.0M
$106.0M
$66.0M
$656.0M
Purchases of investments in non-consolidated affiliates
($4.0M)
($2.0M)
($1.0M)
($14.0M)
Receipts from settlements of net investment hedges
$0
$0
$0
$32.0M
Cash paid for acquisitions, net of cash acquired
($23.0M)
($23.0M)
($23.0M)
($227.0M)
Cash received upon business divestitures
$200.0M
—
—
—
Net cash (used in) provided by investing activities
($130.0M)
$21.0M
($91.0M)
$44.0M
Repayment of notes
$0
$0
$0
($700.0M)
Proceeds from stock-based compensation plans
$34.0M
$24.0M
$13.0M
$44.0M
Repurchase of shares related to stock-based compensation and excise tax payments on share repurchases
-125.0M
-120.0M
—
—
Treasury shares
-2.6B
-2.2B
-1.5B
-1.2B
Dividends
($543.0M)
($365.0M)
($185.0M)
($534.0M)
Dividends to noncontrolling interests
($3.0M)
($3.0M)
—
($2.0M)
Net cash used in financing activities
($3.2B)
($2.6B)
($1.7B)
($2.5B)
Effect of exchange rate changes on cash and cash equivalents