Moody's Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	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
Net Income	2,798	2,462	2,059	1,608	1,374	2,214
Depreciation & Amortization	495	480	431	373	331	257
Stock-Based Compensation	232	232	220	193	169	175
Other Adjustments	-68	-19	-22	15	52	-228
Change in Receivables	-217	-203	-187	-12	9	-270
Changes in Accounts Payable	93	-55	225	76	-161	80
Changes in Income Taxes Payable	-54	-57	18	-129	-33	-184
Changes in Unearned Revenue	142	148	154	24	20	65
Changes in Other Operating Activities	79	-87	-60	3	-287	-104
Operating Cash Flow	3,319	2,901	2,838	2,151	1,474	2,005
Operating Cash Flow Growth	23.98%	2.22%	31.94%	45.93%	-26.48%	-6.57%
Capital Expenditures	-352	-326	-317	-271	-283	-139
Purchases of Investments	-153	-207	-655	-148	-320	-437
Proceeds from Sale of Investments	217	690	137	175	218	147
Cash Acquisitions	-27	-227	-221	-3	-97	-2,179
Proceeds from Business Divestments	40	40	-	-	-	-
Other Investing Activities	-	32	-	-	220	-11
Investing Cash Flow	-75	2	-1,056	-247	-262	-2,619
Long-Term Debt Issued	-	-	496	-	988	1,672
Long-Term Debt Repaid	-	-700	-	-500	-626	-500
Net Long-Term Debt Issued (Repaid)	-	-700	496	-500	362	1,172
Issuance of Common Stock	41	49	73	50	26	38
Repurchase of Common Stock	-3,246	-1,706	-1,383	-561	-1,070	-833
Net Common Stock Issued (Repurchased)	-3,205	-1,657	-1,310	-511	-1,044	-795
Common Dividends Paid	-700	-701	-620	-564	-515	-463
Other Financing Activities	-4	-5	-12	-9	-11	-36
Financing Cash Flow	-3,912	-3,063	-1,446	-1,584	-1,208	-122
Foreign Exchange Rate Adjustments	-39	136	-58	41	-46	-50
Net Cash Flow	-707	-24	278	361	-42	-786
Free Cash Flow	2,967	2,575	2,521	1,880	1,191	1,866
Free Cash Flow Growth	25.14%	2.14%	34.10%	57.85%	-36.17%	-8.66%
FCF Margin	36.36%	33.36%	35.57%	31.78%	21.78%	30.01%
Free Cash Flow Per Share	16.71	14.31	13.80	10.22	6.45	9.93
Levered Free Cash Flow	3,198	1,862	3,005	1,183	1,323	3,361
Unlevered Free Cash Flow	3,248	2,739	2,644	1,852	1,057	2,261

SEC Filings: 10-K · 10-Q