MCO
Moody's Corporation493.00
+5.50+1.13%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Front-loaded MIS; AI indicators strong
Q&A detailed Moody's front-loaded 2026 MIS issuance (mid-50s% H1, high single-digits growth vs prior H1) and revenue (mid-teens H1, low single-digits H2), with growth every quarter. MA ARR held steady amid KYC/insurance headwinds like DOS cancellations, but AI propelled large strategic customers and AI cohorts at double the portfolio rate—leading indicators intact. Divestitures quantified: Learning Solutions 2% MA revenue drag, Regulatory Reporting similar on close, ARR excludes both. Data moats stressed via Orbis complexities; pricing shifting consumption-based to tap efficiencies. Moats hold firm. Watch H1 issuance, AI trickle-down.
Key Stats
Market Cap
88.42BP/E (TTM)
39.69Basic EPS (TTM)
12.42Dividend Yield
0.01%Recent Filings
8-K
Q4 revenue up 13%
Moody's reported Q4 revenue of $1.9B, up 13%, and full-year $7.7B, up 9%, fueled by MIS's record 17% quarterly surge from AI deals and infrastructure issuance while MA recurring revenue climbed 11%. Adjusted diluted EPS hit $14.94, up 20%. 2026 guides high-single-digit revenue growth. Operating leverage shines.
10-K
FY2025 results
Moody's drove FY2025 revenue to $7.7B, up 9% y/y, with Q4 accelerating the momentum as MIS issuance volumes surged across CFG (9% y/y), SFG (8%), and PPIF (13%) on tight spreads and investor demand, while MA grew 9% on recurring subscriptions in insurance (15%), KYC (19%), and banking (3%). Q4 sequential trends strengthened with MA ARR up 8% annually and organic constant-currency revenue growth of 7%, fueled by cloud shifts and data feeds; margins expanded to 51.1% adjusted amid disciplined costs. Strong free cash flow of $2.6B supported $1.6B buybacks under a fresh $4B authorization and $702M dividends. Debt stood at $7.2B post-$700M repayment, with $1.25B revolver undrawn. Regulatory scrutiny of CRAs and AI tools poses risks to quarterly issuance flows.
8-K
Sawicki joins Moody's Board
Moody's elected Lisa P. Sawicki, ex-PwC Global Board Chair with 35+ years in financial services audit, to its Board effective March 16, 2026. She joins the Audit and Governance & Nominating Committees, expanding the board to ten. Her expertise bolsters oversight amid evolving global risks. Compensation: $120,000 annual cash retainer plus $230,000 RSU grant.
8-K
Moody's amends stock plan
Moody's directors approved an amended 2001 Key Employees' Stock Incentive Plan on December 16, 2025, tightening 'Good Standing' for retirement equity vesting, adding release requirements, and boosting RSU flexibility. It aligns death/disability treatment with practice. No share count changes. Plan aids retention.
10-Q
Q3 FY2025 results
Moody's revenue climbed 11% y/y to $2,007M in Q3 ended September 30, 2025, with MIS up 12% on leveraged finance and FIG issuance while MA grew 9% via insurance and KYC demand; operating income rose 24% to $917M (45.7% margin, +500bps). Diluted EPS hit $3.60 (+23% y/y), reconciling to 179.6M shares. Free cash flow (derived) of $1,798M YTD trails prior year amid higher taxes, yet $2.3B liquidity cushions $7.0B debt. CAPE Analytics closed January 2025, adding goodwill. Restructuring eyes $250-300M savings. Regulatory scrutiny persists as an NRSRO.
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