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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.
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.
Whether issuance-sensitive ratings revenue stabilizes while recurring analytics growth continues and operating margins hold.
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| 3.6B | 4.2B | 4.4B | 4.8B | 5.4B | 6.2B | 5.5B | 5.9B | 7.1B | 7.7B | |
| (1B) | (1.2B) | (1.2B) | (1.4B) | (1.5B) | (1.6B) | (1.6B) | (1.7B) | (1.9B) | (2B) | |
| 2.6B | 3B | 3.2B | 3.4B | 3.9B | 4.6B | 3.9B | 4.2B | 5.1B | 5.7B | |
| (1.1B) | (1.1B) | (1.3B) | (1.4B) | (1.4B) | (1.7B) | (1.9B) | (2B) | (2.2B) | (2.3B) | |
| (931.2m) | (985.9m) | (1.1B) | (1.2B) | (1.2B) | (1.5B) | (1.5B) | (1.6B) | (1.7B) | (1.8B) | |
| (126.7m) | (158.3m) | (191.9m) | (200m) | (220m) | (257m) | (331m) | (373m) | (431m) | (480m) | |
| 1.5B | 1.8B | 1.9B | 2.1B | 2.4B | 2.8B | 2B | 2.2B | 3B | 3.5B | |
| (75.9m) | (44m) | (231.2m) | (174m) | (144m) | (130m) | (194m) | (230m) | (163m) | (164m) | |
| 137.4m | 195.8m | 196.2m | 175m | 163m | 185m | 216m | 296m | 300m | 251m | |
| (875.8m) | 37.2m | (57m) | (77m) | (59m) | 0 | (44m) | (87m) | (102m) | (167m) | |
| (17m) | (49.7m) | 34m | (14m) | (15m) | 41m | 1m | 28m | (13m) | (1m) | |
| 558m | 1.8B | 1.7B | 1.8B | 2.2B | 2.8B | 1.8B | 1.9B | 2.7B | 3.1B | |
| (282.2m) | (533.5m) | (410.6m) | (381m) | (452m) | (541m) | (338m) | (312m) | (628m) | (668m) | |
| 275.8m | 1.3B | 1.3B | 1.4B | 1.8B | 2.2B | 1.4B | 1.6B | 2.1B | 2.5B | |
| (9.2m) | (7.1m) | (9.8m) | (7m) | 1m | 0 | 0 | (1m) | (1m) | (3m) | |
| 266.6m | 1B | 1.3B | 1.4B | 1.8B | 2.2B | 1.4B | 1.6B | 2.1B | 2.5B | |
| 1.36 | 5.15 | 6.73 | 7.42 | 9.39 | 11.78 | 7.43 | 8.73 | 11.26 | 13.67 |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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