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Moody's MCO Recurring Revenue — Revenue recognized

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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$82.74B-9.8%
Enterprise value$88.79B-8.3%
P/E29.6×-13.4×
P/S10.1×-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:RevenueFromContractWithCustomerExcludingAssessedTax.

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 / TransactionThree Months Ended June 30, 2026 / RecurringThree Months Ended June 30, 2026 / TotalThree Months Ended June 30, 2025 / TransactionThree Months Ended June 30, 2025 / RecurringThree Months Ended June 30, 2025 / Total
Public, Project and Infrastructure Finance$172$52$224$113$49$162
77%23%100%70%30%100%
MIS Other$2$10$12$3$7$10
17%83%100%30%70%100%
Total MIS$891$369$1,260$663$347$1,010
71%29%100%66%34%100%
Total Moody's Corporation$901$1,284$2,185$699$1,199$1,898
41%59%100%37%63%100%

Item 1. Financial Statements

FAQ

What is Moody's's recurring revenue — revenue recognized?
Moody's (MCO) reported recurring revenue — revenue recognized of $1.28B in Q2 2026.
How has Moody's's recurring revenue — revenue recognized changed year-over-year?
Moody's's recurring revenue — revenue recognized increased by 7.1% year-over-year, from $1.2B to $1.28B.
What is the long-term trend for Moody's's recurring revenue — revenue recognized?
Over 4 years (2021 to 2025), Moody's's recurring revenue — revenue recognized has grown at a 9.2% compound annual growth rate (CAGR), from $3.41B to $4.84B.
What does recurring revenue — revenue recognized mean?
This metric represents the total revenue generated from subscription-based products, maintenance contracts, and other recurring service agreements. It serves as a key indicator of the stability and predictability of the company's top-line performance. By isolating recurring streams from transactional or one-time fees, it highlights the core base of predictable income that supports long-term operational planning.

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