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Moody's MCO MA — Duplicate Rent

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MBXBurlington MA — Annual Rent
$818K
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MBXBurlington MA — Aggregate Base Rent
$3.4M
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MBXBurlington MA — Payment Of Base Rent
$68.2K
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MBXBurlington MA — Percentage Of Annual Rent Increases
3%
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EXRMA — Debt
$26.92M-30.6%
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ALKSVivitrol — Actual Credits Received Related To Duplicate Billings
$8.9M-49.7%

Other financials

Income statement

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Revenue$2.2B+15.1%
Gross profit$1.7B+18.3%
Operating income$1.0B+27.9%
Net income$878.0M+51.9%
EPS (diluted)$5.03+56.7%

Balance sheet

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Cash & equivalents$1.5B-32.5%
Total debt$7.5B+3.3%
Total equity$3.0B-23.4%
Total assets$14.7B-5.2%

Cash flow

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Operating cash flow$779.0M+43.5%
CapEx$91.0M+21.3%
Free cash flow$688.0M+47.0%

Valuation

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Market cap$83.82B-9.7%
Enterprise value$89.87B-8.2%
P/E30×-13.5×
P/S10.3×-2.4×

Profitability

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Gross margin75%+2.2pp
Operating margin44.8%+4.2pp
Net margin34.3%+5.1pp
FCF margin36.4%+3.9pp

Returns & leverage

See full
Return on equity80.2%+25.0pp
Debt / equity2.5×+0.6×
Current ratio1.2×-0.6×

Where this comes from

Reported directly by Moody's in its filing.

Tagged under the XBRL concept mco:DuplicateRentExpense.

The source filing: Moody's’s 10-Q, filed July 23, 2026.

Filed
Jul 23, 2026, 4:19 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-049398
Line itemThree Months Ended June 30, 2026 / MAThree Months Ended June 30, 2026 / MISThree Months Ended June 30, 2025 / EliminationsThree Months Ended June 30, 2025 / ConsolidatedThree Months Ended June 30, 2025 / MAMISEliminationsConsolidated
Depreciation andamortization102241269723120
Restructuring2753218927
Reserve for international non-income tax obligation22
Duplicate Rent112
Charges related to asset abandonment11
Operating Income$1,046$818
Non-operating income (expense), net$125$(46)
Income before provision for income taxes$1,171$772

Item 1. Financial Statements

FAQ

What is Moody's's MA — duplicate rent?
Moody's (MCO) reported MA — duplicate rent of $1M in Q2 2026.
What does MA — duplicate rent mean?
This metric identifies non-recurring or overlapping rental expenses incurred during transitions between office facilities or during the consolidation of physical footprints. It highlights temporary inefficiencies in operating expenses that do not reflect the core ongoing cost structure of the business. Monitoring this helps analysts normalize operating margins by stripping out transitory costs associated with real estate strategy shifts.

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