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Moody's MCO MIS — Duplicate Rent

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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 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 MIS — duplicate rent?
Moody's (MCO) reported MIS — duplicate rent of $1M in Q2 2026.
What does MIS — duplicate rent mean?
Reflects temporary overlapping rental expenses incurred during the transition between office locations or facilities. This metric highlights non-recurring operational inefficiencies associated with real estate footprint changes or corporate restructuring. Tracking this allows analysts to normalize operating expenses and identify the true run-rate cost structure of the business segment.

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