Deferred Revenue
S&P Global Deferred Revenue decreased by 6.3% to $3.63B in Q3 2025 compared to the prior quarter. Year-over-year, this metric grew by 10.3%, from $3.29B to $3.63B. Over 4 years (FY 2020 to FY 2024), Deferred Revenue shows an upward trend with a 14.3% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests strong sales of subscription-based services or bundled offerings, providing a predictable pipeline for future revenue recognition.
Detailed definition
Represents cash payments received from customers in advance of the company fulfilling its performance obligations, speci...
Peer comparison
High-growth software and services companies typically maintain larger deferred revenue balances relative to pure hardware manufacturers.
deferred_revenue_currentHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $2.10B | $2.01B | $2.22B | $3.17B | $2.93B | $2.87B | $3.13B | $3.18B | $3.15B | $3.02B | $3.46B | $3.54B | $3.41B | $3.29B | $3.69B | $3.89B | $3.87B | $3.63B |
| QoQ Change | — | -4.4% | +10.5% | +42.9% | -7.4% | -2.1% | +8.9% | +1.6% | -0.9% | -4.0% | +14.5% | +2.1% | -3.6% | -3.5% | +12.3% | +5.3% | -0.5% | -6.3% |
| YoY Change | — | — | — | — | +39.7% | +43.1% | +41.0% | +0.3% | +7.3% | +5.3% | +10.7% | +11.3% | +8.2% | +8.8% | +6.7% | +10.1% | +13.7% | +10.3% |
Deferred Revenue at Other Companies
Frequently Asked Questions
- What is S&P Global's deferred revenue?
- S&P Global (SPGI) reported deferred revenue of $3.63B in Q3 2025.
- How has S&P Global's deferred revenue changed year-over-year?
- S&P Global's deferred revenue increased by 10.3% year-over-year, from $3.29B to $3.63B.
- What is the long-term trend for S&P Global's deferred revenue?
- Over 4 years (2020 to 2024), S&P Global's deferred revenue has grown at a 14.3% compound annual growth rate (CAGR), from $2.17B to $3.69B.
- What does deferred revenue mean?
- Money collected from customers for products or services that haven't been delivered yet but will be within a year.