DUT Balance Sheet - Moody's Corp

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Price: 455 EUR Market Closed

Market Cap: €82.9B

Financial profile · Q3 FY2026

Recurring analytics and cyclical ratings support durable margins and cash generation

Moody's combines a recurring data-and-analytics base with transaction-sensitive ratings revenue, creating a durable growth platform alongside issuance-driven variability. Historically, operating earnings have expanded with revenue, while relatively modest capital spending leaves substantial cash for dividends and share repurchases.

What is developing

The latest quarter reinforces the two-speed model: recurring analytics continued to grow while ratings remained sensitive to issuance mix. That is a shift in segment balance, not evidence of a changed underlying cash-generation model.

What matters next

Whether issuance-sensitive ratings revenue stabilizes while recurring analytics growth continues and operating margins hold.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Cash & Cash Equivalents	2.1B	1.1B	1.7B	1.8B	2.6B	1.8B	1.8B	2.1B	2.4B	2.4B
Cash Equivalents	2.1B	1.1B	1.7B	1.8B	2.6B	1.8B	1.8B	2.1B	2.4B	2.4B
Short-Term Investments	173.4m	111.8m	132.5m	98m	99m	91m	90m	63m	566m	64m
Total Receivables	887.4m	1.1B	1.3B	1.4B	1.4B	1.7B	1.7B	1.7B	1.8B	2B
Accounts Receivables	887.4m	1.1B	1.3B	1.4B	1.4B	1.7B	1.7B	1.7B	1.8B	2B
Other Receivables	0	0	0	0	0	0	0	0	0	0
Other Current Assets	140.8m	250.1m	282.3m	330m	383m	389m	583m	489m	515m	714m
Total Current Assets	3.3B	2.6B	3.4B	3.7B	4.5B	4B	4.1B	4.3B	5.3B	5.2B
PP&E Net	325.9m	325.1m	320.4m	748m	671m	785m	848m	880m	872m	1B
PP&E Gross	325.9m	325.1m	320.4m	748m	671m	785m	848m	880m	872m	1B
Accumulated Depreciation	(595.5m)	(706m)	(790.2m)	(839m)	(928m)	(1B)	(1.1B)	(1.3B)	(1.5B)	(1.6B)
Intangible Assets	296.4m	1.6B	1.6B	1.5B	1.8B	2.5B	2.2B	2B	1.9B	1.9B
Goodwill	1B	3.8B	3.8B	3.7B	4.6B	6B	5.8B	6B	6B	6.4B
Note Receivable	—	—	78m	119m	134m	138m	171m	196m	214m	253m
Long-Term Investments	59m	121.2m	123.5m	127m	201m	532m	604m	621m	563m	599m
Other Long-Term Assets	369.3m	182.5m	270m	372m	514m	748m	583m	579m	682m	554m
Other Assets	1B	3.8B	3.8B	3.7B	4.6B	6B	5.8B	6B	6B	6.4B
Total Assets	5.3B	8.6B	9.5B	10.3B	12.4B	14.7B	14.3B	14.6B	15.5B	15.8B
Accounts Payable	898.5m	21.8m	30.1m	38m	39m	47m	52m	23m	53m	62m
Accrued Liabilities	346.1m	530m	452.2m	608m	734m	847m	722m	786m	899m	816m
Short-Term Debt	0	129.9m	0	0	0	0	0	0	0	0
Current Portion of Long-Term Debt	300m	299.5m	449.9m	0	—	—	—	—	697m	—
Other Current Liabilities	883.6m	1.1B	1.2B	1.3B	1.4B	1.6B	1.6B	1.7B	1.9B	2.1B
Deferred Revenue	712.3m	905.8m	973.8m	1.1B	1.1B	1.3B	1.4B	1.4B	1.6B	1.7B
Total Current Liabilities	2.4B	2.1B	2.1B	1.9B	2.2B	2.5B	2.4B	2.5B	3.6B	3B
Long-Term Debt	3.1B	5.1B	5.2B	5.6B	6.4B	7.4B	7.4B	7B	6.7B	7B
Deferred Income Tax	104.3m	341.6m	351.7m	357m	404m	488m	457m	402m	449m	315m
Minority Interest	197.7m	212.8m	196.6m	225m	194m	189m	170m	158m	162m	151m
Other Liabilities	759.1m	1.2B	1.2B	1.6B	1.6B	1.4B	1.4B	1.2B	1B	1.3B
Total Liabilities	6.6B	8.9B	9.1B	9.7B	10.8B	12B	11.8B	11.3B	11.9B	11.8B
Common Stock	3.4m	3.4m	3.4m	3m	3m	3m	3m	3m	3m	3m
Retained Earnings	6.7B	7.5B	8.6B	9.7B	11B	12.8B	13.6B	14.7B	16.1B	17.9B
Additional Paid In Capital	477.2m	528.6m	600.9m	642m	735m	885m	1.1B	1.2B	1.5B	1.7B
Unrealized Security Profit/Loss	—	2.3m	0	—	—	—	—	—	—	—
Treasury Stock	(8B)	(8.2B)	(8.3B)	(9.3B)	(9.7B)	(10.5B)	(11.5B)	(12B)	(13.3B)	(15B)
Other Equity	(364.9m)	(174.5m)	(426.3m)	(439m)	(432m)	(410m)	(643m)	(567m)	(638m)	(500m)
Total Equity	(1.2B)	(327.7m)	459.9m	612m	1.6B	2.7B	2.5B	3.3B	3.6B	4.1B
Total Liabilities & Equity	5.3B	8.6B	9.5B	10.3B	12.4B	14.7B	14.3B	14.6B	15.5B	15.8B
Common Shares Outstanding	190.7m	191m	191.3m	187.7m	187.1m	185.6m	183.2m	182.5m	180.3m	177.5m