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Moody's MCO MA — Unbilled Receivables

Other segment segments

MIS
$577M+11.8%

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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:UnbilledReceivablesCurrent.

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 itemAs of June 30, 2026 / MAAs of June 30, 2026 / MISAs of December 31, 2025 / MAAs of December 31, 2025 / MIS
Unbilled Receivables$86$577$106$500

Item 1. Financial Statements

FAQ

What is Moody's's MA — unbilled receivables?
Moody's (MCO) reported MA — unbilled receivables of $86M in Q2 2026.
How has Moody's's MA — unbilled receivables changed year-over-year?
Moody's's MA — unbilled receivables decreased by 19.6% year-over-year, from $107M to $86M.
What is the long-term trend for Moody's's MA — unbilled receivables?
Over 4 years (2021 to 2025), Moody's's MA — unbilled receivables has grown at a -2.0% compound annual growth rate (CAGR), from $463M to $427M.
What does MA — unbilled receivables mean?
Represents revenue recognized for services performed for which the company has an unconditional right to payment, but has not yet issued an invoice. This reflects the timing difference between service delivery and the billing cycle in the Moody's Analytics segment. It is a key component of working capital management.

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