Moody's (MCO) Financials

$434.23 -3.44 (-0.79%)

Closing price 03:59 PM Eastern

Extended Trading

$434.88 +0.65 (+0.15%)

As of 07:59 PM Eastern

Annual Income Statements for Moody's

This table shows Moody's' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	941	267	1,001	1,310	1,422	1,778	2,214	1,374	1,607	2,058
Consolidated Net Income / (Loss)	950	276	1,008	1,320	1,429	1,777	2,214	1,374	1,608	2,059
Net Income / (Loss) Continuing Operations	950	276	1,008	1,320	1,429	1,777	2,214	1,374	1,608	2,059
Total Pre-Tax Income	1,380	558	1,787	1,672	1,810	2,229	2,755	1,760	1,935	2,699
Total Operating Income	1,473	651	1,821	1,868	1,998	2,388	2,844	1,883	2,137	2,875
Total Gross Profit	2,508	2,585	2,988	3,197	3,442	3,896	4,581	3,855	4,229	5,143
Total Revenue	3,485	3,604	4,204	4,443	4,829	5,371	6,218	5,468	5,916	7,088
Operating Revenue	3,485	3,604	4,204	4,443	4,829	5,371	6,218	5,468	5,916	7,088
Total Cost of Revenue	976	1,020	1,216	1,246	1,387	1,475	1,637	1,613	1,687	1,945
Operating Cost of Revenue	976	1,020	1,216	1,246	1,387	1,475	1,637	1,613	1,687	1,945
Total Operating Expenses	1,035	1,934	1,167	1,329	1,444	1,508	1,737	1,972	2,092	2,268
Selling, General & Admin Expense	921	931	986	1,080	1,167	1,229	1,480	1,527	1,632	1,735
Depreciation Expense	114	127	158	192	200	220	257	331	373	431
Impairment Charge	-	-	-	-	-	-	-	-	-	43
Restructuring Charge	0.00	12	23	57	63	50	0.00	114	87	59
Total Other Income / (Expense), net	-94	-93	-34	-196	-188	-159	-89	-123	-202	-176
Interest Expense	-	-	-	-	-	0.00	0.00	-70	0.00	0.00
Interest & Investment Income	-115	-157	-38	-215	-208	-205	-171	-231	-251	-237
Other Income / (Expense), net	21	64	4.00	19	20	46	82	38	49	61
Income Tax Expense	430	282	779	352	381	452	541	386	327	640
Net Income / (Loss) Attributable to Noncontrolling Interest	8.30	9.20	7.00	10	7.00	-1.00	0.00	0.00	1.00	1.00
Basic Earnings per Share	$4.70	$1.38	$5.24	$6.84	$7.51	$9.48	$11.88	$7.47	$8.77	$11.32
Weighted Average Basic Shares Outstanding	200.10M	192.70M	191.10M	191.60M	189.30M	187.60M	186.40M	183.90M	183.20M	181.80M
Diluted Earnings per Share	$4.63	$1.36	$5.15	$6.74	$7.42	$9.39	$11.78	$7.44	$8.73	$11.26
Weighted Average Diluted Shares Outstanding	203.40M	195.40M	194.20M	194.40M	191.60M	189.30M	187.90M	184.70M	184M	182.70M
Weighted Average Basic & Diluted Shares Outstanding	200.30M	193.20M	191M	194.30M	187.40M	187.10M	185.20M	183.20M	182.50M	180M
Cash Dividends to Common per Share	$1.36	$1.48	$1.52	$1.76	$2.00	$2.24	$2.48	$2.80	$3.08	$3.40

This table shows Moody's' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	303	246	501	377	389	340	577	552	534	395
Consolidated Net Income / (Loss)	303	246	501	377	390	340	577	553	534	395
Net Income / (Loss) Continuing Operations	303	246	501	377	390	340	577	553	534	395
Total Pre-Tax Income	381	327	506	492	487	450	752	719	703	525
Total Operating Income	413	306	554	550	535	498	801	775	738	561
Total Gross Profit	882	880	1,042	1,068	1,060	1,059	1,319	1,348	1,301	1,175
Total Revenue	1,275	1,290	1,470	1,494	1,472	1,480	1,786	1,817	1,813	1,672
Operating Revenue	1,275	1,290	1,470	1,494	1,472	1,480	1,786	1,817	1,813	1,672
Total Cost of Revenue	393	410	428	426	412	421	467	469	512	497
Operating Cost of Revenue	393	410	428	426	412	421	467	469	512	497
Total Operating Expenses	469	574	488	518	525	561	518	573	563	614
Selling, General & Admin Expense	385	403	386	415	403	428	413	446	434	442
Depreciation Expense	83	89	88	93	95	97	100	110	108	113
Restructuring Charge	1.00	82	14	10	27	36	5.00	2.00	6.00	46
Total Other Income / (Expense), net	-32	21	-48	-58	-48	-48	-49	-56	-35	-36
Interest & Investment Income	-58	-65	-48	-71	-66	-66	-62	-63	-60	-52
Other Income / (Expense), net	26	16	0.00	13	18	18	13	7.00	25	16
Income Tax Expense	78	81	5.00	115	97	110	175	166	169	130
Basic Earnings per Share	$1.65	$1.35	$2.73	$2.05	$2.12	$1.87	$3.16	$3.03	$2.94	$2.19
Weighted Average Basic Shares Outstanding	183.20M	183.90M	183.30M	183.50M	183.30M	183.20M	182.60M	182.30M	181.70M	181.80M
Diluted Earnings per Share	$1.65	$1.34	$2.72	$2.05	$2.11	$1.85	$3.15	$3.02	$2.93	$2.16
Weighted Average Diluted Shares Outstanding	183.90M	184.70M	184.10M	184.10M	184M	184M	183.40M	183M	182.50M	182.70M
Weighted Average Basic & Diluted Shares Outstanding	183.20M	183.20M	183.50M	183.50M	183M	182.50M	182.60M	182.10M	181.20M	180M

This table details how cash moves in and out of Moody's' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	538	294	-1,065	643	147	765	-786	-42	361	278
Net Cash From Operating Activities	1,198	1,259	755	1,461	1,675	2,146	2,005	1,474	2,151	2,838
Net Cash From Continuing Operating Activities	1,205	1,259	755	1,461	1,675	2,146	2,005	1,474	2,155	2,845
Net Income / (Loss) Continuing Operations	950	276	1,008	1,320	1,429	1,777	2,214	1,374	1,608	2,059
Consolidated Net Income / (Loss)	950	276	1,008	1,320	1,429	1,777	2,214	1,374	1,608	2,059
Depreciation Expense	114	127	158	192	200	220	257	331	373	431
Non-Cash Adjustments To Reconcile Net Income	87	62	25	269	184	145	154	154	224	234
Changes in Operating Assets and Liabilities, net	54	795	-436	-320	-138	4.00	-620	-385	-50	121
Net Cash From Investing Activities	-92	102	-3,420	-406	36	-1,077	-2,619	-262	-247	-1,056
Net Cash From Continuing Investing Activities	-92	102	-3,420	-406	36	-1,077	-2,619	-262	-247	-1,056
Purchase of Property, Plant & Equipment	-89	-115	-91	-91	-69	-103	-139	-283	-271	-317
Acquisitions	-7.60	-81	-3,511	-289	-162	-897	-2,179	-97	-3.00	-221
Purchase of Investments	-688	-407	-170	-193	-145	-183	-485	-320	-148	-655
Divestitures	0.00	1.50	0.00	6.00	226	-	2.00	2.00	13	2.00
Sale and/or Maturity of Investments	693	703	352	161	186	106	182	436	162	135
Net Cash From Financing Activities	-506	-1,043	1,600	-412	-1,563	-351	-122	-1,208	-1,584	-1,446
Net Cash From Continuing Financing Activities	-504	-1,043	1,600	-412	-1,563	-351	-122	-1,208	-1,584	-1,446
Repayment of Debt	-9.50	-0.10	-2,034	-1,931	-2,288	-1,631	-531	-636	-500	-5.00
Repurchase of Common Equity	-1,098	-739	-200	-203	-991	-503	-750	-983	-490	-1,292
Payment of Dividends	-279	-337	-293	-342	-381	-421	-468	-516	-573	-627
Issuance of Debt	853	0.00	4,129	2,079	2,141	2,280	1,672	988	0.00	496
Issuance of Common Equity	89	78	56	47	45	51	38	26	50	73
Other Financing Activities, net	-60	-44	-58	-62	-89	-127	-83	-87	-71	-91
Effect of Exchange Rate Changes	-63	-24	-	-	-1.00	47	-50	-46	41	-58

This table details how cash moves in and out of Moody's' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	39	113	350	159	-272	124	346	159	7.00	-234
Net Cash From Operating Activities	336	377	608	604	462	477	775	686	703	674
Net Cash From Continuing Operating Activities	336	377	608	604	450	493	775	686	703	681
Net Income / (Loss) Continuing Operations	303	246	501	377	390	340	577	553	534	395
Consolidated Net Income / (Loss)	303	246	501	377	390	340	577	553	534	395
Depreciation Expense	83	89	88	93	95	97	100	110	108	113
Non-Cash Adjustments To Reconcile Net Income	39	18	45	52	45	82	50	54	60	70
Changes in Operating Assets and Liabilities, net	-89	24	-26	82	-80	-26	48	-31	1.00	103
Net Cash From Investing Activities	-	-90	-63	-40	-90	-54	-96	-95	-684	-181
Net Cash From Continuing Investing Activities	-	-90	-63	-40	-90	-54	-96	-95	-684	-181
Purchase of Property, Plant & Equipment	-71	-79	-73	-54	-71	-73	-78	-93	-72	-74
Acquisitions	-5.00	-	0.00	-3.00	-	-	-12	-	-98	-111
Purchase of Investments	-62	-76	-45	-10	-53	-40	-52	-37	-538	-28
Divestitures	-	-	-	-	-	12	-	-	-	2.00
Sale and/or Maturity of Investments	138	63	55	26	34	47	46	35	24	30
Net Cash From Financing Activities	-245	-251	-216	-408	-607	-353	-308	-423	-81	-634
Net Cash From Continuing Financing Activities	-245	-251	-216	-408	-607	-353	-308	-423	-81	-634
Repurchase of Common Equity	-112	-	-41	-67	-170	-212	-120	-264	-428	-480
Payment of Dividends	-128	-128	-141	-142	-143	-147	-155	-155	-156	-161
Issuance of Common Equity	5.00	5.00	11	20	9.00	10	20	25	15	13
Other Financing Activities, net	-2.00	-2.00	-45	-19	-3.00	-4.00	-53	-29	-3.00	-6.00
Effect of Exchange Rate Changes	-52	77	21	3.00	-37	54	-25	-9.00	69	-93

This table presents Moody's' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	5,103	5,327	8,594	9,526	10,265	12,409	14,680	14,349	14,622	15,505
Total Current Assets	3,243	3,253	2,581	3,387	3,679	4,509	4,011	4,094	4,341	5,290
Cash & Equivalents	1,757	2,052	1,072	1,685	1,832	2,597	1,811	1,769	2,130	2,408
Short-Term Investments	475	173	112	133	98	99	91	90	63	566
Accounts Receivable	802	887	1,147	1,287	1,419	1,430	1,720	1,652	1,659	1,801
Other Current Assets	180	141	250	282	330	383	389	583	489	515
Plant, Property, & Equipment, net	306	326	325	320	292	278	347	502	603	656
Total Noncurrent Assets	1,554	1,748	5,689	5,819	6,294	7,622	10,322	9,753	9,678	9,559
Goodwill	976	1,024	3,753	3,781	3,722	4,556	5,999	5,839	5,956	5,994
Intangible Assets	299	296	1,632	1,566	1,498	1,824	2,467	2,210	2,049	1,890
Noncurrent Deferred & Refundable Income Taxes	138	316	144	197	229	334	384	266	258	293
Other Noncurrent Operating Assets	140	112	160	275	845	908	1,472	1,438	1,415	1,382
Total Liabilities & Shareholders' Equity	5,103	5,327	8,594	9,526	10,265	12,409	14,680	14,349	14,622	15,505
Total Liabilities	5,436	6,355	8,709	8,870	9,428	10,646	11,764	11,660	11,146	11,778
Total Current Liabilities	1,219	2,428	2,063	2,099	1,912	2,222	2,496	2,375	2,500	3,597
Short-Term Debt	0.00	300	429	450	-	-	-	-	0.00	697
Accounts Payable	567	1,444	750	696	773	1,039	1,142	1,011	1,076	1,344
Current Deferred Revenue	635	684	884	953	1,050	1,089	1,249	1,258	1,316	1,454
Other Current Liabilities	-	-	-	-	89	94	105	106	108	102
Total Noncurrent Liabilities	4,218	3,926	6,646	6,771	7,516	8,424	9,268	9,285	8,646	8,181
Long-Term Debt	3,381	3,063	5,111	5,226	5,581	6,422	7,413	7,389	7,001	6,731
Noncurrent Deferred Revenue	133	134	140	122	112	98	86	75	65	57
Noncurrent Deferred & Payable Income Tax Liabilities	287	304	731	847	834	887	876	779	598	660
Other Noncurrent Operating Liabilities	417	425	664	576	989	1,017	893	1,042	982	733
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-333	-1,027	-115	656	831	1,763	2,916	2,689	3,476	3,727
Total Preferred & Common Equity	-565	-1,225	-328	459	612	1,569	2,727	2,519	3,318	3,565
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-565	-1,225	-328	459	612	1,569	2,727	2,519	3,318	3,565
Common Stock	455	481	532	604	645	738	888	1,057	1,231	1,454
Retained Earnings	6,709	6,689	7,465	8,594	9,656	11,011	12,762	13,618	14,659	16,071
Treasury Stock	-7,389	-8,030	-8,153	-8,313	-9,250	-9,748	-10,513	-11,513	-12,005	-13,322
Accumulated Other Comprehensive Income / (Loss)	-340	-365	-172	-426	-439	-432	-410	-643	-567	-638
Noncontrolling Interest	232	198	213	197	219	194	189	170	158	162

This table presents Moody's' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	13,939	14,349	14,719	14,691	14,191	14,622	15,011	15,013	15,769	15,505
Total Current Assets	3,726	4,094	4,426	4,390	4,037	4,341	4,806	4,881	5,393	5,290
Cash & Equivalents	1,656	1,769	2,119	2,278	2,006	2,130	2,476	2,635	2,642	2,408
Short-Term Investments	89	90	78	57	73	63	58	63	573	566
Accounts Receivable	1,518	1,652	1,712	1,542	1,513	1,659	1,835	1,694	1,708	1,801
Other Current Assets	463	583	517	513	445	489	437	489	470	515
Plant, Property, & Equipment, net	472	502	525	541	573	603	613	652	662	656
Total Noncurrent Assets	9,741	9,753	9,768	9,760	9,581	9,678	9,592	9,480	9,714	9,559
Goodwill	5,617	5,839	5,892	5,926	5,831	5,956	5,909	5,891	6,148	5,994
Intangible Assets	2,182	2,210	2,177	2,138	2,058	2,049	1,983	1,930	1,970	1,890
Noncurrent Deferred & Refundable Income Taxes	336	266	268	265	264	258	270	267	268	293
Other Noncurrent Operating Assets	1,606	1,438	1,431	1,431	1,428	1,415	1,430	1,392	1,328	1,382
Total Liabilities & Shareholders' Equity	13,939	14,349	14,719	14,691	14,191	14,622	15,011	15,013	15,769	15,505
Total Liabilities	11,509	11,660	11,661	11,379	10,839	11,146	11,276	11,075	11,701	11,778
Total Current Liabilities	2,066	2,375	2,988	2,667	2,269	2,500	3,382	3,219	3,235	3,597
Short-Term Debt	-	-	499	300	-	0.00	685	688	693	697
Accounts Payable	807	1,011	805	877	938	1,076	976	1,000	1,133	1,344
Current Deferred Revenue	1,155	1,258	1,578	1,385	1,226	1,316	1,612	1,423	1,300	1,454
Other Current Liabilities	104	106	106	105	105	108	109	108	109	102
Total Noncurrent Liabilities	9,443	9,285	8,673	8,712	8,570	8,646	7,894	7,856	8,466	8,181
Long-Term Debt	7,476	7,389	6,963	6,923	6,851	7,001	6,259	6,253	6,876	6,731
Noncurrent Deferred Revenue	78	75	70	67	65	65	61	59	59	57
Noncurrent Deferred & Payable Income Tax Liabilities	912	779	681	689	691	598	659	672	625	660
Other Noncurrent Operating Liabilities	977	1,042	959	1,033	963	982	915	872	906	733
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,430	2,689	3,058	3,312	3,352	3,476	3,735	3,938	4,068	3,727
Total Preferred & Common Equity	2,255	2,519	2,891	3,144	3,191	3,318	3,575	3,778	3,905	3,565
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,255	2,519	2,891	3,144	3,191	3,318	3,575	3,778	3,905	3,565
Common Stock	1,016	1,057	1,071	1,127	1,178	1,231	1,255	1,327	1,393	1,454
Retained Earnings	13,501	13,618	13,979	14,213	14,460	14,659	15,081	15,478	15,855	16,071
Treasury Stock	-11,514	-11,513	-11,570	-11,626	-11,795	-12,005	-12,153	-12,410	-12,840	-13,322
Accumulated Other Comprehensive Income / (Loss)	-748	-643	-589	-570	-652	-567	-608	-617	-503	-638
Noncontrolling Interest	175	170	167	168	161	158	160	160	163	162

This table displays calculated financial ratios and metrics derived from Moody's' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.50%	3.44%	16.64%	5.69%	8.69%	11.22%	15.77%	-12.06%	8.19%	19.81%
EBITDA Growth	2.39%	-47.64%	135.51%	4.84%	6.69%	19.66%	19.93%	-29.25%	13.63%	31.57%
EBIT Growth	1.34%	-52.14%	155.14%	3.40%	6.94%	20.61%	20.21%	-34.35%	13.79%	34.31%
NOPAT Growth	2.35%	-68.28%	219.28%	43.57%	6.96%	20.69%	20.05%	-35.68%	20.81%	23.50%
Net Income Growth	-5.61%	-70.96%	265.48%	30.95%	8.26%	24.35%	24.59%	-37.94%	17.03%	28.05%
EPS Growth	0.43%	-70.63%	278.68%	30.87%	10.09%	26.55%	25.45%	-36.84%	17.34%	28.98%
Operating Cash Flow Growth	17.62%	5.10%	-40.04%	93.51%	14.65%	28.12%	-6.57%	-26.48%	45.93%	31.94%
Free Cash Flow Firm Growth	121.51%	-7.65%	-402.47%	138.75%	33.28%	-43.70%	-172.28%	357.18%	1.96%	34.22%
Invested Capital Growth	-10.65%	-86.41%	3,728.79%	6.40%	-0.58%	22.30%	53.53%	-2.47%	0.79%	-1.24%
Revenue Q/Q Growth	-0.33%	2.16%	5.61%	-2.31%	3.71%	1.07%	4.17%	-4.36%	3.32%	2.78%
EBITDA Q/Q Growth	-1.41%	-47.05%	82.29%	-4.18%	6.56%	-1.96%	4.81%	-9.78%	8.57%	2.34%
EBIT Q/Q Growth	-1.63%	-51.26%	92.82%	-4.52%	7.16%	-2.41%	4.50%	-11.76%	9.74%	2.12%
NOPAT Q/Q Growth	-1.27%	-67.73%	89.49%	20.86%	7.21%	-2.70%	3.49%	-11.88%	9.28%	2.13%
Net Income Q/Q Growth	-2.16%	-70.08%	82.05%	20.49%	8.15%	-2.58%	5.38%	-11.64%	6.21%	2.74%
EPS Q/Q Growth	-0.64%	-70.69%	81.34%	20.79%	8.64%	-2.29%	5.56%	-11.22%	6.20%	2.83%
Operating Cash Flow Q/Q Growth	-0.35%	5.50%	4.86%	-1.93%	6.53%	9.10%	-15.19%	5.59%	4.88%	7.46%
Free Cash Flow Firm Q/Q Growth	-1.91%	9.45%	-5.26%	-7.36%	15.43%	-8.45%	-763.96%	33.25%	2.93%	24.15%
Invested Capital Q/Q Growth	-13.53%	-88.95%	-5.59%	2.24%	-0.21%	0.38%	8.71%	0.71%	1.97%	-2.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	71.98%	71.71%	71.08%	71.96%	71.28%	72.54%	73.67%	70.50%	71.48%	72.56%
EBITDA Margin	46.15%	23.36%	47.17%	46.79%	45.93%	49.41%	51.19%	41.19%	43.26%	47.50%
Operating Margin	42.28%	18.06%	43.32%	42.04%	41.38%	44.46%	45.74%	34.44%	36.12%	40.56%
EBIT Margin	42.90%	19.85%	43.41%	42.47%	41.79%	45.32%	47.06%	35.13%	36.95%	41.42%
Profit (Net Income) Margin	27.25%	7.65%	23.98%	29.71%	29.59%	33.09%	35.61%	25.13%	27.18%	29.05%
Tax Burden Percent	68.83%	49.43%	56.41%	78.95%	78.95%	79.72%	80.36%	78.07%	83.10%	76.29%
Interest Burden Percent	92.30%	78.01%	97.92%	88.61%	89.69%	91.58%	94.16%	91.62%	88.52%	91.93%
Effective Tax Rate	31.17%	50.57%	43.59%	21.05%	21.05%	20.28%	19.64%	21.93%	16.90%	23.71%
Return on Invested Capital (ROIC)	117.38%	69.47%	47.19%	33.68%	35.05%	38.16%	32.85%	17.66%	21.52%	26.64%
ROIC Less NNEP Spread (ROIC-NNEP)	110.98%	65.45%	46.50%	29.92%	31.09%	34.73%	31.30%	15.92%	18.27%	23.74%
Return on Net Nonoperating Assets (RNNOA)	-772.05%	-110.02%	-223.69%	454.21%	156.38%	98.53%	61.79%	31.37%	30.64%	30.53%
Return on Equity (ROE)	-654.67%	-40.55%	-176.50%	487.90%	191.43%	136.69%	94.64%	49.03%	52.17%	57.17%
Cash Return on Invested Capital (CROIC)	128.63%	221.62%	-142.63%	27.48%	35.62%	18.10%	-9.38%	20.16%	20.73%	27.89%
Operating Return on Assets (OROA)	30.59%	13.72%	26.22%	20.83%	20.39%	21.47%	21.60%	13.24%	15.09%	19.49%
Return on Assets (ROA)	19.44%	5.29%	14.48%	14.57%	14.44%	15.67%	16.35%	9.47%	11.10%	13.67%
Return on Common Equity (ROCE)	-1,698.85%	-53.36%	-239.94%	118.39%	137.32%	114.66%	86.89%	45.89%	49.39%	54.63%
Return on Equity Simple (ROE_SIMPLE)	-168.07%	-22.51%	-307.60%	287.58%	233.50%	113.26%	81.19%	54.55%	48.46%	57.76%
Net Operating Profit after Tax (NOPAT)	1,014	322	1,027	1,475	1,577	1,904	2,286	1,470	1,776	2,193
NOPAT Margin	29.11%	8.93%	24.43%	33.19%	32.67%	35.45%	36.76%	26.88%	30.02%	30.94%
Net Nonoperating Expense Percent (NNEP)	6.40%	4.02%	0.70%	3.77%	3.95%	3.44%	1.55%	1.74%	3.25%	2.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	14.59%	16.95%	19.66%
Cost of Revenue to Revenue	28.02%	28.29%	28.92%	28.04%	28.72%	27.46%	26.33%	29.50%	28.52%	27.44%
SG&A Expenses to Revenue	26.44%	25.84%	23.45%	24.31%	24.17%	22.88%	23.80%	27.93%	27.59%	24.48%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.70%	53.65%	27.76%	29.91%	29.90%	28.08%	27.94%	36.06%	35.36%	32.00%
Earnings before Interest and Taxes (EBIT)	1,495	715	1,825	1,887	2,018	2,434	2,926	1,921	2,186	2,936
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,608	842	1,983	2,079	2,218	2,654	3,183	2,252	2,559	3,367
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	55.41	70.13	33.54	25.90	19.91	21.37	24.06
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	5.19	4.63	6.29	5.72	8.89	9.80	11.36	9.17	11.99	12.10
Price to Earnings (P/E)	19.22	62.62	26.43	19.41	30.18	29.60	31.90	36.51	44.12	41.68
Dividend Yield	1.49%	1.70%	1.10%	1.33%	0.88%	0.80%	0.65%	1.28%	0.79%	0.72%
Earnings Yield	5.20%	1.60%	3.78%	5.15%	3.31%	3.38%	3.13%	2.74%	2.27%	2.40%
Enterprise Value to Invested Capital (EV/IC)	23.88	162.73	7.31	6.53	10.43	10.30	9.06	6.80	9.16	11.05
Enterprise Value to Revenue (EV/Rev)	5.59	5.00	7.38	6.64	9.69	10.53	12.27	10.22	12.83	12.75
Enterprise Value to EBITDA (EV/EBITDA)	12.11	21.41	15.64	14.18	21.10	21.31	23.98	24.80	29.65	26.85
Enterprise Value to EBIT (EV/EBIT)	13.02	25.21	17.00	15.63	23.19	23.23	26.08	29.08	34.71	30.79
Enterprise Value to NOPAT (EV/NOPAT)	19.20	56.04	30.20	20.00	29.67	29.70	33.39	38.00	42.72	41.21
Enterprise Value to Operating Cash Flow (EV/OCF)	16.25	14.32	41.09	20.18	27.94	26.35	38.07	37.90	35.27	31.85
Enterprise Value to Free Cash Flow (EV/FCFF)	17.52	17.57	0.00	24.51	29.19	62.64	0.00	33.29	44.35	39.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-10.15	-3.27	-48.22	8.65	6.67	3.64	2.54	2.75	2.01	1.99
Long-Term Debt to Equity	-10.15	-2.98	-44.48	7.97	6.67	3.64	2.54	2.75	2.01	1.81
Financial Leverage	-6.96	-1.68	-4.81	15.18	5.03	2.84	1.97	1.97	1.68	1.29
Leverage Ratio	-33.68	-7.67	-12.19	33.49	13.26	8.72	5.79	5.18	4.70	4.18
Compound Leverage Factor	-31.09	-5.98	-11.93	29.67	11.89	7.99	5.45	4.75	4.16	3.84
Debt to Total Capital	110.93%	143.98%	102.12%	89.64%	86.96%	78.46%	71.77%	73.32%	66.82%	66.59%
Short-Term Debt to Total Capital	0.00%	12.84%	7.91%	7.11%	0.00%	0.00%	0.00%	0.00%	0.00%	6.25%
Long-Term Debt to Total Capital	110.93%	131.14%	94.20%	82.53%	86.96%	78.46%	71.77%	73.32%	66.82%	60.34%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	7.61%	8.46%	3.92%	3.11%	3.51%	2.37%	1.83%	1.69%	1.51%	1.45%
Common Equity to Total Capital	-18.54%	-52.45%	-6.04%	7.25%	9.54%	19.17%	26.40%	25.00%	31.67%	31.96%
Debt to EBITDA	2.10	3.99	2.79	2.73	2.52	2.42	2.33	3.28	2.74	2.21
Net Debt to EBITDA	0.71	1.35	2.20	1.86	1.65	1.40	1.73	2.46	1.88	1.32
Long-Term Debt to EBITDA	2.10	3.64	2.58	2.51	2.52	2.42	2.33	3.28	2.74	2.00
Debt to NOPAT	3.33	10.45	5.39	3.85	3.54	3.37	3.24	5.03	3.94	3.39
Net Debt to NOPAT	1.13	3.54	4.24	2.62	2.31	1.96	2.41	3.76	2.71	2.03
Long-Term Debt to NOPAT	3.33	9.52	4.98	3.54	3.54	3.37	3.24	5.03	3.94	3.07
Altman Z-Score	5.96	4.64	4.30	4.27	5.37	5.51	6.02	4.88	6.27	7.03
Noncontrolling Interest Sharing Ratio	-159.50%	-31.59%	-35.94%	75.73%	28.27%	16.12%	8.19%	6.41%	5.32%	4.44%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.66	1.34	1.25	1.61	1.92	2.03	1.61	1.72	1.74	1.47
Quick Ratio	2.49	1.28	1.13	1.48	1.75	1.86	1.45	1.48	1.54	1.33
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,111	1,026	-3,104	1,203	1,603	903	-652	1,678	1,711	2,296
Operating Cash Flow to CapEx	1,346.18%	1,093.06%	829.67%	1,605.49%	2,427.54%	2,083.50%	1,442.45%	520.85%	793.73%	895.27%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.71	0.69	0.60	0.49	0.49	0.47	0.46	0.38	0.41	0.47
Accounts Receivable Turnover	4.37	4.27	4.13	3.65	3.57	3.77	3.95	3.24	3.57	4.10
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	11.45	11.40	12.92	13.77	15.78	18.85	19.90	12.88	10.71	11.26
Accounts Payable Turnover	1.74	1.01	1.11	1.72	1.89	1.63	1.50	1.50	1.62	1.61
Days Sales Outstanding (DSO)	83.51	85.54	88.32	99.99	102.27	96.81	92.45	112.54	102.14	89.09
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	210.15	359.93	329.37	211.84	193.29	224.20	243.15	243.60	225.77	227.07
Cash Conversion Cycle (CCC)	-126.64	-274.39	-241.05	-111.85	-91.02	-127.39	-150.69	-131.05	-123.63	-137.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	815	111	4,242	4,514	4,488	5,489	8,427	8,219	8,284	8,181
Invested Capital Turnover	4.03	7.78	1.93	1.01	1.07	1.08	0.89	0.66	0.72	0.86
Increase / (Decrease) in Invested Capital	-97	-705	4,132	272	-26	1,001	2,938	-208	65	-103
Enterprise Value (EV)	19,468	18,031	31,022	29,488	46,797	56,545	76,324	55,858	75,873	90,391
Market Capitalization	18,088	16,695	26,452	25,433	42,921	52,625	70,624	50,158	70,907	85,775
Book Value per Share	($2.86)	($6.41)	($1.71)	$2.40	$3.24	$8.35	$14.67	$13.75	$18.13	$19.67
Tangible Book Value per Share	($9.31)	($13.31)	($29.89)	($25.51)	($24.41)	($25.62)	($30.87)	($30.19)	($25.61)	($23.84)
Total Capital	3,048	2,336	5,426	6,332	6,418	8,185	10,329	10,078	10,477	11,155
Total Debt	3,381	3,363	5,541	5,676	5,581	6,422	7,413	7,389	7,001	7,428
Total Long-Term Debt	3,381	3,063	5,111	5,226	5,581	6,422	7,413	7,389	7,001	6,731
Net Debt	1,148	1,138	4,357	3,858	3,651	3,726	5,511	5,530	4,808	4,454
Capital Expenditures (CapEx)	89	115	91	91	69	103	139	283	271	317
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-208	-1,100	-237	-80	-163	-409	-387	-140	-352	-584
Debt-free Net Working Capital (DFNWC)	2,025	1,125	947	1,738	1,767	2,287	1,515	1,719	1,841	2,390
Net Working Capital (NWC)	2,025	825	517	1,288	1,767	2,287	1,515	1,719	1,841	1,693
Net Nonoperating Expense (NNE)	65	46	19	155	148	127	72	96	168	134
Net Nonoperating Obligations (NNO)	1,148	1,138	4,357	3,858	3,651	3,726	5,511	5,530	4,808	4,454
Total Depreciation and Amortization (D&A)	114	127	158	192	200	220	257	331	373	431
Debt-free, Cash-free Net Working Capital to Revenue	-5.96%	-30.52%	-5.63%	-1.80%	-3.38%	-7.62%	-6.22%	-2.56%	-5.95%	-8.24%
Debt-free Net Working Capital to Revenue	58.10%	31.21%	22.52%	39.12%	36.59%	42.58%	24.36%	31.44%	31.12%	33.72%
Net Working Capital to Revenue	58.10%	22.89%	12.30%	28.99%	36.59%	42.58%	24.36%	31.44%	31.12%	23.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$4.70	$1.38	$5.24	$6.84	$7.51	$9.48	$11.88	$7.47	$8.77	$11.32
Adjusted Weighted Average Basic Shares Outstanding	200.10M	192.70M	191.10M	191.60M	189.30M	187.60M	186.40M	183.90M	183.20M	181.80M
Adjusted Diluted Earnings per Share	$4.63	$1.36	$5.15	$6.74	$7.42	$9.39	$11.78	$7.44	$8.73	$11.26
Adjusted Weighted Average Diluted Shares Outstanding	203.40M	195.40M	194.20M	194.40M	191.60M	189.30M	187.90M	184.70M	184M	182.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	194.90M	190.80M	191M	191.30M	187.40M	187.10M	185.20M	183.20M	182.50M	180M
Normalized Net Operating Profit after Tax (NOPAT)	1,014	1,069	1,040	1,520	1,627	1,944	2,286	1,559	1,848	2,271
Normalized NOPAT Margin	29.11%	29.65%	24.74%	34.21%	33.70%	36.19%	36.76%	28.51%	31.24%	32.04%
Pre Tax Income Margin	39.59%	15.48%	42.51%	37.63%	37.48%	41.50%	44.31%	32.19%	32.71%	38.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	29.37%	122.34%	29.07%	25.91%	26.66%	23.69%	21.14%	37.55%	35.63%	30.45%
Augmented Payout Ratio	145.01%	390.21%	48.91%	41.29%	96.01%	52.00%	55.01%	109.10%	66.11%	93.20%

This table displays calculated financial ratios and metrics derived from Moody's' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-16.45%	-16.18%	-3.42%	8.18%	15.45%	14.73%	21.50%	21.62%	23.17%	12.97%
EBITDA Growth	-28.79%	-37.25%	-13.24%	13.30%	24.14%	49.15%	42.37%	35.98%	34.41%	12.56%
EBIT Growth	-34.67%	-44.29%	-16.31%	13.05%	25.97%	60.25%	46.93%	38.90%	37.97%	11.82%
NOPAT Growth	-36.55%	-45.88%	2.25%	12.39%	30.44%	63.45%	12.05%	41.44%	30.84%	12.18%
Net Income Growth	-36.08%	-42.39%	0.60%	15.29%	28.71%	38.21%	15.17%	46.68%	36.92%	16.18%
EPS Growth	-34.78%	-41.23%	1.49%	15.82%	27.88%	38.06%	15.81%	47.32%	38.86%	16.76%
Operating Cash Flow Growth	-22.94%	26.09%	29.36%	107.56%	37.50%	26.53%	27.47%	13.58%	52.16%	41.30%
Free Cash Flow Firm Growth	95.44%	117.44%	132.50%	129.48%	677.82%	-28.97%	7.03%	-6.02%	-43.58%	68.69%
Invested Capital Growth	5.28%	-2.47%	-2.25%	-2.76%	-0.45%	0.79%	-2.14%	-0.23%	3.67%	-1.24%
Revenue Q/Q Growth	-7.68%	1.18%	13.95%	1.63%	-1.47%	0.54%	20.68%	1.74%	-0.22%	-7.78%
EBITDA Q/Q Growth	-9.84%	-21.26%	56.20%	2.18%	-1.22%	-5.40%	49.10%	-2.41%	-2.35%	-20.78%
EBIT Q/Q Growth	-11.85%	-26.65%	72.05%	1.62%	-1.78%	-6.69%	57.75%	-3.93%	-2.43%	-24.38%
NOPAT Q/Q Growth	-12.41%	-29.91%	138.28%	-23.17%	1.66%	-12.18%	63.34%	-3.01%	-5.95%	-24.71%
Net Income Q/Q Growth	-7.34%	-18.81%	103.66%	-24.75%	3.45%	-12.82%	69.71%	-4.16%	-3.44%	-26.03%
EPS Q/Q Growth	-6.78%	-18.79%	102.99%	-24.63%	2.93%	-12.32%	70.27%	-4.13%	-2.98%	-26.28%
Operating Cash Flow Q/Q Growth	15.46%	12.20%	61.27%	-0.66%	-23.51%	3.25%	62.47%	-11.48%	2.48%	-4.13%
Free Cash Flow Firm Q/Q Growth	96.37%	644.00%	68.99%	-11.62%	-28.88%	-33.12%	154.64%	-22.40%	-57.31%	99.97%
Invested Capital Q/Q Growth	-3.23%	0.71%	1.27%	-1.48%	-0.93%	1.97%	-1.68%	0.44%	2.95%	-2.86%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.18%	68.22%	70.88%	71.49%	72.01%	71.55%	73.85%	74.19%	71.76%	70.28%
EBITDA Margin	40.94%	31.86%	43.67%	43.91%	44.02%	41.42%	51.18%	49.09%	48.04%	41.27%
Operating Margin	32.39%	23.72%	37.69%	36.81%	36.35%	33.65%	44.85%	42.65%	40.71%	33.55%
EBIT Margin	34.43%	24.96%	37.69%	37.68%	37.57%	34.86%	45.58%	43.04%	42.08%	34.51%
Profit (Net Income) Margin	23.76%	19.07%	34.08%	25.23%	26.49%	22.97%	32.31%	30.43%	29.45%	23.62%
Tax Burden Percent	79.53%	75.23%	99.01%	76.63%	80.08%	75.56%	76.73%	76.91%	75.96%	75.24%
Interest Burden Percent	86.79%	101.55%	91.34%	87.39%	88.07%	87.21%	92.38%	91.94%	92.14%	90.99%
Effective Tax Rate	20.47%	24.77%	0.99%	23.37%	19.92%	24.44%	23.27%	23.09%	24.04%	24.76%
Return on Invested Capital (ROIC)	18.51%	11.72%	24.00%	18.75%	20.47%	18.23%	26.05%	26.25%	25.77%	21.73%
ROIC Less NNEP Spread (ROIC-NNEP)	18.04%	12.01%	23.16%	17.93%	19.74%	17.53%	25.27%	25.31%	25.19%	21.15%
Return on Net Nonoperating Assets (RNNOA)	38.82%	23.66%	45.98%	33.58%	35.85%	29.39%	35.99%	31.88%	30.98%	27.20%
Return on Equity (ROE)	57.33%	35.38%	69.98%	52.33%	56.32%	47.62%	62.03%	58.13%	56.76%	48.93%
Cash Return on Invested Capital (CROIC)	15.83%	20.16%	19.86%	21.14%	20.41%	20.73%	24.52%	24.84%	22.36%	27.89%
Operating Return on Assets (OROA)	13.89%	9.40%	13.86%	14.37%	15.29%	14.24%	19.11%	19.00%	19.37%	16.24%
Return on Assets (ROA)	9.58%	7.18%	12.53%	9.62%	10.79%	9.38%	13.54%	13.43%	13.56%	11.12%
Return on Common Equity (ROCE)	53.20%	33.12%	65.58%	49.14%	53.05%	45.08%	59.05%	55.50%	54.28%	46.76%
Return on Equity Simple (ROE_SIMPLE)	68.96%	0.00%	47.63%	45.39%	47.45%	0.00%	47.10%	49.23%	51.32%	0.00%
Net Operating Profit after Tax (NOPAT)	328	230	549	421	428	376	615	596	561	422
NOPAT Margin	25.76%	17.85%	37.31%	28.21%	29.11%	25.42%	34.41%	32.81%	30.92%	25.24%
Net Nonoperating Expense Percent (NNEP)	0.47%	-0.29%	0.85%	0.82%	0.73%	0.70%	0.78%	0.94%	0.58%	0.58%
Return On Investment Capital (ROIC_SIMPLE)	-	2.28%	-	-	-	3.59%	-	-	-	3.78%
Cost of Revenue to Revenue	30.82%	31.78%	29.12%	28.51%	27.99%	28.45%	26.15%	25.81%	28.24%	29.72%
SG&A Expenses to Revenue	30.20%	31.24%	26.26%	27.78%	27.38%	28.92%	23.12%	24.55%	23.94%	26.44%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	36.78%	44.50%	33.20%	34.67%	35.67%	37.91%	29.00%	31.54%	31.05%	36.72%
Earnings before Interest and Taxes (EBIT)	439	322	554	563	553	516	814	782	763	577
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	522	411	642	656	648	613	914	892	871	690
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	19.38	19.91	19.14	20.08	18.03	21.37	20.04	20.31	22.13	24.06
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	7.64	9.17	10.22	11.42	10.05	11.99	11.50	11.70	12.53	12.10
Price to Earnings (P/E)	28.10	36.51	40.18	44.24	38.03	44.12	42.57	41.29	43.15	41.68
Dividend Yield	1.14%	1.28%	1.18%	1.06%	1.18%	0.79%	0.81%	0.77%	0.70%	0.72%
Earnings Yield	3.56%	2.74%	2.49%	2.26%	2.63%	2.27%	2.35%	2.42%	2.32%	2.40%
Enterprise Value to Invested Capital (EV/IC)	6.08	6.80	7.30	8.32	7.69	9.16	9.36	9.92	10.80	11.05
Enterprise Value to Revenue (EV/Rev)	8.68	10.22	11.22	12.33	10.91	12.83	12.23	12.38	13.19	12.75
Enterprise Value to EBITDA (EV/EBITDA)	19.87	24.80	28.21	30.56	26.50	29.65	26.92	26.45	27.64	26.85
Enterprise Value to EBIT (EV/EBIT)	22.78	29.08	33.52	36.31	31.36	34.71	31.16	30.44	31.63	30.79
Enterprise Value to NOPAT (EV/NOPAT)	29.73	38.00	41.06	44.72	38.44	42.72	41.40	40.26	42.35	41.21
Enterprise Value to Operating Cash Flow (EV/OCF)	35.53	37.90	37.70	35.42	30.46	35.27	32.88	33.80	34.43	31.85
Enterprise Value to Free Cash Flow (EV/FCFF)	39.38	33.29	36.34	38.79	37.59	44.35	37.75	39.88	49.17	39.36
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.08	2.75	2.44	2.18	2.04	2.01	1.86	1.76	1.86	1.99
Long-Term Debt to Equity	3.08	2.75	2.28	2.09	2.04	2.01	1.68	1.59	1.69	1.81
Financial Leverage	2.15	1.97	1.99	1.87	1.82	1.68	1.42	1.26	1.23	1.29
Leverage Ratio	5.62	5.18	5.22	5.01	4.87	4.70	4.38	4.10	4.04	4.18
Compound Leverage Factor	4.87	5.26	4.77	4.38	4.28	4.10	4.04	3.77	3.72	3.81
Debt to Total Capital	75.47%	73.32%	70.93%	68.56%	67.15%	66.82%	65.02%	63.80%	65.04%	66.59%
Short-Term Debt to Total Capital	0.00%	0.00%	4.74%	2.85%	0.00%	0.00%	6.41%	6.32%	5.96%	6.25%
Long-Term Debt to Total Capital	75.47%	73.32%	66.19%	65.71%	67.15%	66.82%	58.61%	57.48%	59.09%	60.34%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.77%	1.69%	1.59%	1.59%	1.58%	1.51%	1.50%	1.47%	1.40%	1.45%
Common Equity to Total Capital	22.76%	25.00%	27.48%	29.84%	31.28%	31.67%	33.48%	34.73%	33.56%	31.96%
Debt to EBITDA	3.00	3.28	3.46	3.24	2.91	2.74	2.45	2.26	2.30	2.21
Net Debt to EBITDA	2.30	2.46	2.44	2.19	2.02	1.88	1.56	1.38	1.32	1.32
Long-Term Debt to EBITDA	3.00	3.28	3.23	3.10	2.91	2.74	2.21	2.04	2.09	2.00
Debt to NOPAT	4.48	5.03	5.04	4.74	4.22	3.94	3.77	3.44	3.52	3.39
Net Debt to NOPAT	3.44	3.76	3.56	3.21	2.94	2.71	2.40	2.11	2.03	2.03
Long-Term Debt to NOPAT	4.48	5.03	4.70	4.54	4.22	3.94	3.40	3.10	3.20	3.07
Altman Z-Score	4.29	4.51	4.79	5.33	5.29	5.89	5.93	6.34	6.60	6.53
Noncontrolling Interest Sharing Ratio	7.21%	6.41%	6.29%	6.10%	5.81%	5.32%	4.81%	4.52%	4.37%	4.44%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.80	1.72	1.48	1.65	1.78	1.74	1.42	1.52	1.67	1.47
Quick Ratio	1.58	1.48	1.31	1.45	1.58	1.54	1.29	1.36	1.52	1.33
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-81	438	741	654	465	311	793	615	263	525
Operating Cash Flow to CapEx	473.24%	477.22%	832.88%	1,118.52%	650.70%	653.42%	993.59%	737.63%	976.39%	910.81%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.38	0.37	0.38	0.41	0.41	0.42	0.44	0.46	0.47
Accounts Receivable Turnover	3.68	3.24	3.06	3.52	3.78	3.57	3.51	4.05	4.28	4.10
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	14.79	12.88	11.96	11.35	10.96	10.71	10.95	10.99	11.17	11.26
Accounts Payable Turnover	1.79	1.50	1.96	1.90	1.92	1.62	1.94	1.88	1.80	1.61
Days Sales Outstanding (DSO)	99.18	112.54	119.15	103.78	96.60	102.14	103.87	90.09	85.24	89.09
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	204.45	243.60	186.66	191.97	190.01	225.77	188.32	193.64	202.22	227.07
Cash Conversion Cycle (CCC)	-105.26	-131.05	-67.51	-88.20	-93.41	-123.63	-84.44	-103.55	-116.98	-137.98
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,161	8,219	8,323	8,200	8,124	8,284	8,145	8,181	8,422	8,181
Invested Capital Turnover	0.72	0.66	0.64	0.66	0.70	0.72	0.76	0.80	0.83	0.86
Increase / (Decrease) in Invested Capital	409	-208	-192	-233	-37	65	-178	-19	298	-103
Enterprise Value (EV)	49,597	55,858	60,765	68,190	62,472	75,873	76,215	81,125	90,940	90,391
Market Capitalization	43,691	50,158	55,333	63,134	57,539	70,907	71,645	76,722	86,423	85,775
Book Value per Share	$12.29	$13.75	$15.78	$17.13	$17.39	$18.13	$19.58	$20.69	$21.44	$19.67
Tangible Book Value per Share	($30.21)	($30.19)	($28.26)	($26.81)	($25.60)	($25.61)	($23.64)	($22.14)	($23.14)	($23.84)
Total Capital	9,906	10,078	10,520	10,535	10,203	10,477	10,679	10,879	11,637	11,155
Total Debt	7,476	7,389	7,462	7,223	6,851	7,001	6,944	6,941	7,569	7,428
Total Long-Term Debt	7,476	7,389	6,963	6,923	6,851	7,001	6,259	6,253	6,876	6,731
Net Debt	5,731	5,530	5,265	4,888	4,772	4,808	4,410	4,243	4,354	4,454
Capital Expenditures (CapEx)	71	79	73	54	71	73	78	93	72	74
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-85	-140	-260	-312	-311	-352	-425	-348	-364	-584
Debt-free Net Working Capital (DFNWC)	1,660	1,719	1,937	2,023	1,768	1,841	2,109	2,350	2,851	2,390
Net Working Capital (NWC)	1,660	1,719	1,438	1,723	1,768	1,841	1,424	1,662	2,158	1,693
Net Nonoperating Expense (NNE)	25	-16	48	44	38	36	38	43	27	27
Net Nonoperating Obligations (NNO)	5,731	5,530	5,265	4,888	4,772	4,808	4,410	4,243	4,354	4,454
Total Depreciation and Amortization (D&A)	83	89	88	93	95	97	100	110	108	113
Debt-free, Cash-free Net Working Capital to Revenue	-1.49%	-2.56%	-4.80%	-5.64%	-5.43%	-5.95%	-6.82%	-5.31%	-5.28%	-8.24%
Debt-free Net Working Capital to Revenue	29.04%	31.44%	35.76%	36.59%	30.88%	31.12%	33.84%	35.85%	41.34%	33.72%
Net Working Capital to Revenue	29.04%	31.44%	26.55%	31.16%	30.88%	31.12%	22.85%	25.35%	31.29%	23.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.65	$1.35	$2.73	$2.05	$2.12	$1.87	$3.16	$3.03	$2.94	$2.19
Adjusted Weighted Average Basic Shares Outstanding	183.20M	183.90M	183.30M	183.50M	183.30M	183.20M	182.60M	182.30M	181.70M	181.80M
Adjusted Diluted Earnings per Share	$1.65	$1.34	$2.72	$2.05	$2.11	$1.85	$3.15	$3.02	$2.93	$2.16
Adjusted Weighted Average Diluted Shares Outstanding	183.90M	184.70M	184.10M	184.10M	184M	184M	183.40M	183M	182.50M	182.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	183.20M	183.20M	183.50M	183.50M	183M	182.50M	182.60M	182.10M	181.20M	180M
Normalized Net Operating Profit after Tax (NOPAT)	329	292	562	429	450	403	618	609	577	457
Normalized NOPAT Margin	25.82%	22.63%	38.26%	28.72%	30.57%	27.26%	34.63%	33.52%	31.80%	27.31%
Pre Tax Income Margin	29.88%	25.35%	34.42%	32.93%	33.08%	30.41%	42.11%	39.57%	38.78%	31.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	32.54%	37.55%	38.27%	37.77%	36.59%	35.63%	34.86%	32.26%	30.59%	30.45%
Augmented Payout Ratio	103.60%	109.10%	71.97%	53.19%	54.95%	66.11%	68.65%	73.44%	81.69%	93.20%

Frequently Asked Questions About Moody's' Financials

When does Moody's's fiscal year end?

According to the most recent income statement we have on file, Moody's' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Moody's' net income changed over the last 9 years?

Moody's' net income appears to be on an upward trend, with a most recent value of $2.06 billion in 2024, rising from $949.60 million in 2015. The previous period was $1.61 billion in 2023.

What is Moody's's operating income?

Moody's's total operating income in 2024 was $2.88 billion, based on the following breakdown:

Total Gross Profit: $5.14 billion
Total Operating Expenses: $2.27 billion

How has Moody's revenue changed over the last 9 years?

Over the last 9 years, Moody's' total revenue changed from $3.48 billion in 2015 to $7.09 billion in 2024, a change of 103.4%.

How much debt does Moody's have?

Moody's' total liabilities were at $11.78 billion at the end of 2024, a 5.7% increase from 2023, and a 116.7% increase since 2015.

How much cash does Moody's have?

In the past 9 years, Moody's' cash and equivalents has ranged from $1.07 billion in 2017 to $2.60 billion in 2020, and is currently $2.41 billion as of their latest financial filing in 2024.

How has Moody's' book value per share changed over the last 9 years?

Over the last 9 years, Moody's' book value per share changed from -2.86 in 2015 to 19.67 in 2024, a change of -788.4%.

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This page (NYSE:MCO) was last updated on 4/15/2025 by MarketBeat.com Staff

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Moody's (MCO) Financials

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Moody's (MCO) Financials

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