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Moody's MCO MIS — Total changes in deferred revenue

Other segment segments

MA
-$205M-15.8%

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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: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 MIS — total changes in deferred revenue?
Moody's (MCO) reported MIS — total changes in deferred revenue of -$21M in Q2 2026.
How has Moody's's MIS — total changes in deferred revenue changed year-over-year?
Moody's's MIS — total changes in deferred revenue decreased by 110.0% year-over-year, from -$10M to -$21M.
What is the long-term trend for Moody's's MIS — total changes in deferred revenue?
Over 3 years (2021 to 2024), Moody's's MIS — total changes in deferred revenue has grown at a -51.0% compound annual growth rate (CAGR), from -$17M to -$2M.
What does MIS — total changes in deferred revenue mean?
Represents the net movement in deferred revenue balances for the Moody's Investors Service segment during the reporting period. This reflects the difference between cash received in advance of service delivery and the revenue recognized as services are performed. It serves as a key indicator of short-term billing momentum and contract activity within the credit ratings business.

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