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Issues credit ratings on bonds and issuers, plus Moody's Analytics risk, data and decision-support software.
Issues credit ratings on bonds and issuers, plus Moody's Analytics risk, data and decision-support software.
Issuers pay Moody's to rate their bonds, so rating revenue rises and falls with debt issuance and refinancing, while the Analytics arm sells risk and data subscriptions that renew steadily. Ratings is effectively a two-firm field alongside S&P Global, and regulations and bond covenants often require a rating.
Moat: wide (brand, regulatory licence, switching costs). Duopoly ratings brand embedded in regulation and bond covenants; sticky risk-software subscriptions.
Headquarters: New York, New York, US · Founded: 1909 · Employees: 16,076
Size Moody's (MCO) is a United States Financials company (Financial Publishing/Services) with a market value of $87.2B, the 154th largest of 3,117 United States companies the cockpit tracks. Shares closed at $505.67 on 6 Nov 2026.
Performance Over six months the shares gained 12.3%, against +9.9% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 12 in its peer set.
Growth Revenue grew 9.0% over the last twelve months (peer median +6.7%); the operating margin is 45.9% (peer median 30.5%).
Valuation It trades at 28.1× forward earnings against a peer median of 18.8× (2nd most expensive of 11).
Credit Moody's has 14 bonds outstanding ($7.09B), rated A- by the agencies and trading like A at a weighted spread of 74 bp.
Short interest Short interest is 1.7% of the free float (15 Oct 2026).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $8.18B | $7.72B | $7.09B | $5.92B | $5.47B |
| Revenue growth | — | +9% | +20% | +8% | — |
| Gross profit | $5.60B | $5.26B | $4.71B | $3.85B | $3.52B |
| EBITDA | $4.25B | $3.94B | $3.40B | $2.59B | $2.33B |
| Net income | $2.88B | $2.46B | $2.06B | $1.61B | $1.37B |
| Free cash flow | $2.98B | $2.58B | $2.52B | $1.88B | $1.19B |
| Capital expenditure | $352M | $326M | $317M | $271M | $283M |
| Total debt | $7.49B | $7.35B | $7.75B | $7.42B | $7.86B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Moody's MCO | $87.2B | +12% | +9% | 46% | 28.1× | n/a |
| S&P Global SPGI | $136B | +18% | +6% | 46% | 24.1× | n/a |
| MSCI MSCI | $45.8B | +10% | +12% | 56% | 29.5× | n/a |
| Verisk Analytics VRSK | $26.6B | +19% | +5% | 45% | 24.3× | 5.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MCO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.2% | +9.9% | 6th highest of 12 |
| 6-month return | +12.3% | +9.9% | 5th highest of 12 |
| Distance from 52-week high | -7.1% | -6.7% | 6th lowest of 12 |
| Revenue growth (TTM) | +9.0% | +6.7% | 6th highest of 12 |
| Operating margin | 45.9% | 30.5% | 3rd highest of 12 |
| Forward P/E | 28.1× | 18.8× | 2nd most expensive of 11 |
| Bond spread | 74 bp | 88 bp | 3rd tightest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Moody's MCO | United States | $87.2B | +12% | +9% | 46% | 28.1× | n/a | n/a |
| London Stock Exchange LSEG.L | United Kingdom | $60.9B | +1% | +6% | 26% | 19.6× | n/a | n/a |
| S&P Global SPGI | United States | $136B | +18% | +6% | 46% | 24.1× | n/a | n/a |
| MSCI MSCI | United States | $45.8B | +10% | +12% | 56% | 29.5× | n/a | n/a |
| FactSet FDS | United States | $11.6B | +47% | +7% | 31% | 16.7× | n/a | n/a |
| Morningstar MORN | United States | $9.06B | +38% | +9% | 24% | 17.3× | n/a | n/a |
| NICE Information Service 030190.KS | South Korea | $754M | +17% | +9% | 18% | 11.2× | n/a | n/a |
| CARE Ratings CARERATING.NS | India | $499M | -5% | +19% | 40% | 23.3× | n/a | n/a |
| ICRA ICRA.NS | India | $452M | -18% | +31% | 30% | 19.6× | n/a | n/a |
| Enento ENENTO.HE | Finland | $438M | +10% | +4% | 24% | 17.3× | n/a | n/a |
| Korea Ratings 034950.KS | South Korea | $330M | -5% | +1% | 31% | n/a | n/a | n/a |
| Credit Bureau Asia TCU.SI | Singapore | $179M | -20% | +1% | 47% | 18.1× | n/a | n/a |
Moody's has 14 bonds outstanding with $7.09B face value. The agencies rate it A-; its bonds trade like A. Weighted yield 5.34%, a spread of 74 bp over government bonds.