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Moody's MCO Transaction Revenue — Revenue recognized

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Other financials

Income statement

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Revenue$2.1B+8.1%
Gross profit$1.5B+8.0%
Operating income$922.0M+9.0%
Net income$661.0M+5.8%
EPS (diluted)$3.73+7.8%

Balance sheet

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Cash & equivalents$1.5B-31.3%
Total debt$7.3B+2.5%
Total equity$3.0B-19.1%
Total assets$14.7B-2.4%

Cash flow

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Operating cash flow$939.0M+24.0%
CapEx$95.0M+11.8%
Free cash flow$844.0M+25.6%

Valuation

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Market cap$76.66B-9.4%
Enterprise value$82.5B-7.9%
P/E30.7×-9.4×
P/S9.7×-2.0×

Profitability

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Gross margin74.4%+1.7pp
Operating margin43.5%+3.1pp
Net margin31.7%+2.5pp
FCF margin34.9%+0.3pp

Returns & leverage

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Return on equity74.5%+16.6pp
Debt / equity2.4×+0.5×
Current ratio1.2×-0.4×

Where this comes from

Reported directly by Moody's in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Moody's’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Moody's's transaction revenue — revenue recognized?
Moody's (MCO) reported transaction revenue — revenue recognized of $807M in Q1 2026.
How has Moody's's transaction revenue — revenue recognized changed year-over-year?
Moody's's transaction revenue — revenue recognized increased by 4.9% year-over-year, from $769M to $807M.
What is the long-term trend for Moody's's transaction revenue — revenue recognized?
Over 4 years (2021 to 2025), Moody's's transaction revenue — revenue recognized has grown at a 0.6% compound annual growth rate (CAGR), from $2.81B to $2.88B.
What does transaction revenue — revenue recognized mean?
This metric represents the total revenue generated from credit rating assignments and related services that are triggered by specific debt issuance events. It captures the fees earned when issuers bring new securities to market, reflecting the volume and value of debt capital market activity. This revenue stream is highly sensitive to macroeconomic conditions and corporate financing cycles.