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Moody's MCO MA — Total changes in deferred revenue

Other segment segments

MIS
-$21M-110%

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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

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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 us-gaap:IncreaseDecreaseInContractWithCustomerLiability.

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, 2026 / TotalThree Months Ended June 30, 2025 / MAThree Months Ended June 30, 2025 / MISThree Months Ended June 30, 2025 / Total
Balance at March 31,$1,506$368$1,874$1,462$360$1,822
Changes in deferred revenue:
Revenue recognized that was included in the deferred revenue balance at the beginning of the period(665)(126)(791)(562)(123)(685)
Increases due to amounts billable excluding amounts recognized as revenue during the period453106559346105451
Adjustment related to divestiture of business(1)55
Effect of exchange rate changes2(1)139847
Total changes in deferred revenue(205)(21)(226)(177)(10)(187)
Balance at June 30,$1,301$347$1,648$1,285$350$1,635

Item 1. Financial Statements

FAQ

What is Moody's's MA — total changes in deferred revenue?
Moody's (MCO) reported MA — total changes in deferred revenue of -$205M in Q2 2026.
How has Moody's's MA — total changes in deferred revenue changed year-over-year?
Moody's's MA — total changes in deferred revenue decreased by 15.8% year-over-year, from -$177M to -$205M.
What is the long-term trend for Moody's's MA — total changes in deferred revenue?
Over 4 years (2021 to 2025), Moody's's MA — total changes in deferred revenue has grown at a -6.7% compound annual growth rate (CAGR), from $165M to $125M.
What does MA — total changes in deferred revenue mean?
This metric represents the net movement in deferred revenue balances for the Moody's Analytics segment during a specific period. It reflects the difference between cash collected for services not yet delivered and the amount of revenue recognized as services are performed. A positive change indicates strong new bookings or renewals, while a negative change suggests revenue recognition is outpacing new billings.

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