Moody's Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	7,718	7,088	5,916	5,468	6,218
Revenue Growth (YoY)	8.89%	19.81%	8.19%	-12.06%	15.77%
Cost of Revenue	1,973	1,945	1,687	1,613	1,637
Gross Profit	5,745	5,143	4,229	3,855	4,581
Selling, General & Admin	1,797	1,731	1,623	1,520	1,487
Operating Expenses	2,277	2,162	1,996	1,851	1,744
Operating Income	3,468	2,981	2,233	2,004	2,837
Interest Expense	-266	-313	-318	-229	-185
Interest & Investment Income	65	102	63	15	9
Earnings From Equity Investments	20	15	19	17	60
Currency Exchange Gain (Loss)	39	-24	-15	10	-1
Other Non Operating Income (Expenses)	-119	20	26	21	35
EBT Excluding Unusual Items	3,207	2,781	2,008	1,838	2,755
Merger & Restructuring Charges	-111	-71	-87	-114	-13
Gain (Loss) on Sale of Investments	11	20	14	-14	13
Gain (Loss) on Sale of Assets	23	-	-	-	-
Asset Writedown	-	-31	-	-	-
Other Unusual Items	-	-	-	50	-
Pretax Income	3,130	2,699	1,935	1,760	2,755
Income Tax Expense	668	640	327	386	541
Earnings From Continuing Operations	2,462	2,059	1,608	1,374	2,214
Minority Interest in Earnings	-3	-1	-1	-	-
Net Income	2,459	2,058	1,607	1,374	2,214
Net Income to Common	2,459	2,058	1,607	1,374	2,214
Net Income Growth	19.48%	28.07%	16.96%	-37.94%	24.52%
Shares Outstanding (Basic)	179	182	183	184	186
Shares Outstanding (Diluted)	180	183	184	185	188
Shares Change (YoY)	-1.53%	-0.71%	-0.38%	-1.70%	-0.74%
EPS (Basic)	13.73	11.32	8.77	7.47	11.88
EPS (Diluted)	13.67	11.26	8.73	7.44	11.78
EPS Growth	21.40%	28.98%	17.34%	-36.84%	25.45%
Free Cash Flow	2,575	2,521	1,880	1,191	1,866
Free Cash Flow Per Share	14.31	13.80	10.22	6.45	9.93
Dividend Per Share	3.760	3.400	3.080	2.800	2.480
Dividend Growth	10.59%	10.39%	10.00%	12.90%	10.71%
Gross Margin	74.44%	72.56%	71.48%	70.50%	73.67%
Operating Margin	44.93%	42.06%	37.74%	36.65%	45.63%
Profit Margin	31.86%	29.04%	27.16%	25.13%	35.61%
Free Cash Flow Margin	33.36%	35.57%	31.78%	21.78%	30.01%
EBITDA	3,737	3,232	2,485	2,256	3,094
EBITDA Margin	48.42%	45.60%	42.00%	41.26%	49.76%
D&A For EBITDA	269	251	252	252	257
EBIT	3,468	2,981	2,233	2,004	2,837
EBIT Margin	44.93%	42.06%	37.74%	36.65%	45.63%
Effective Tax Rate	21.34%	23.71%	16.90%	21.93%	19.64%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.