Moody's Corporation (MCO)
NYSE: MCO · Real-Time Price · USD
484.20
-1.76 (-0.36%)
At close: Jul 28, 2026, 4:00 PM EDT
484.27
+0.07 (0.01%)
After-hours: Jul 28, 2026, 7:46 PM EDT
Moody's Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Net Income | 879 | 661 | 611 | 647 | 579 | 625 | 395 | 534 | 553 | 577 | 340 | 390 | 377 | 501 | 246 | 303 | 327 | 498 | 427 | 474 |
Depreciation & Amortization | 126 | 122 | 124 | 123 | 120 | 113 | 113 | 108 | 110 | 100 | 97 | 95 | 93 | 88 | 89 | 83 | 81 | 78 | 77 | 61 |
Stock-Based Compensation | 59 | 58 | 58 | 57 | 61 | 56 | 54 | 57 | 56 | 53 | 50 | 46 | 50 | 47 | 39 | 46 | 38 | 46 | 48 | 41 |
Other Adjustments | -47 | 28 | -66.5 | 17.5 | 4 | 26 | -53 | 3 | 6 | 29 | -2 | -25 | 27 | 3 | 19 | -7 | 35 | 30 | -139 | -138 |
Change in Receivables | 127 | -47 | -266 | -31 | 110 | -16 | -144 | 21 | 133 | -197 | -124 | 0 | 166 | -54 | -89 | 60 | 180 | -117 | -120 | -108 |
Changes in Accounts Payable | -18 | -175 | 262 | 24 | -49 | -292 | 180 | 127 | 28 | -110 | 137 | 25 | 92 | -178 | 197 | -82 | 20 | -296 | 90 | 165 |
Changes in Income Taxes Payable | 6 | 7 | -74 | 7 | 4 | 6 | 6 | 0 | 6 | 6 | -15 | 6 | -1 | -119 | 8 | 3 | -26 | -18 | -105 | -4 |
Changes in Unearned Revenue | -233 | 253 | 278 | -156 | -235 | 261 | 205 | -171 | -188 | 308 | 59 | -132 | -199 | 296 | 40 | -112 | -198 | 290 | 140 | -124 |
Changes in Other Operating Activities | 61 | 32 | -57 | 43 | -51 | -22 | -82 | 31 | -18 | 9 | -65 | 45 | -1 | 24 | -102 | 42 | -186 | -41 | -96 | 69 |
Operating Cash Flow | 779 | 939 | 858 | 743 | 543 | 757 | 674 | 703 | 686 | 775 | 477 | 462 | 604 | 608 | 377 | 336 | 291 | 470 | 299 | 436 |
Operating Cash Flow Growth (YoY) | 43.46% | 24.04% | 27.30% | 5.69% | -20.84% | -2.32% | 41.30% | 52.16% | 13.58% | 27.47% | 26.52% | 37.50% | 107.56% | 29.36% | 26.09% | -22.94% | -51.01% | -30.47% | -54.56% | -14.68% |
Investing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Capital Expenditures | -91 | -95 | -81 | -85 | -75 | -85 | -74 | -72 | -93 | -78 | -73 | -71 | -54 | -73 | -79 | -71 | -74 | -59 | -62 | -33 |
Purchases of Investments | -37 | -39 | -35 | -42 | -79 | -51 | -28 | -538 | -37 | -52 | -40 | -53 | -12 | -45 | -76 | -62 | -136 | -46 | -300 | -28 |
Proceeds from Sale of Investments | 40 | 66 | 34 | 77 | 28 | 551 | 30 | 24 | 35 | 46 | 47 | 34 | 26 | 55 | 63 | 54 | 72 | 27 | 43 | 17 |
Cash Acquisitions | 0 | -23 | 0 | -4 | 0 | -223 | -111 | -98 | 0 | -12 | 0 | 0 | -3 | - | 0 | -5 | -9 | -83 | -153 | -1,888 |
Proceeds from Business Divestments | - | - | 20 | 20 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Other Investing Activities | - | - | 0 | 0 | 0 | 32 | - | - | - | - | - | - | - | - | 0 | 84 | - | - | 12 | 22 |
Investing Cash Flow | 112 | -91 | -42 | -54 | -126 | 224 | -181 | -684 | -95 | -96 | -54 | -90 | -40 | -63 | -90 | 0 | -11 | -161 | -458 | -1,910 |
Financing Activities
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Long-Term Debt Issued | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | 0 | 497 | 0 | 491 | 494 | 1,178 |
Long-Term Debt Repaid | - | - | 0 | 0 | 0 | -700 | - | - | - | - | 0 | -300 | - | - | -126 | -500 | - | - | -500 | - |
Net Long-Term Debt Issued (Repaid) | - | - | 0 | 0 | 0 | -700 | 0 | - | - | - | 0 | -300 | - | - | -126 | -3 | 0 | 491 | -6 | 1,178 |
Issuance of Common Stock | 11 | 13 | 5 | 12 | 9 | 23 | 13 | 15 | 25 | 20 | 10 | 9 | 20 | 11 | 5 | 5 | 8 | 8 | 8 | 7 |
Repurchase of Common Stock | -738 | -1,547 | -444 | -517 | -319 | -426 | -486 | -431 | -293 | -173 | -216 | -173 | -86 | -86 | -2 | -114 | -336 | -716 | -123 | -128 |
Net Common Stock Issued (Repurchased) | -727 | -1,534 | -439 | -505 | -310 | -403 | -473 | -416 | -268 | -153 | -206 | -164 | -66 | -75 | 3 | -109 | -328 | -708 | -115 | -121 |
Common Dividends Paid | -180 | -185 | -167 | -168 | -171 | -195 | -155 | -156 | -154 | -155 | -140 | -141 | -142 | -141 | -128 | -128 | -129 | -130 | -116 | -115 |
Other Financing Activities | - | - | -3 | -1 | - | - | -6 | 0 | - | - | -7 | -2 | - | - | 0 | -5 | 0 | -5 | -20 | -14 |
Financing Cash Flow | -910 | -1,719 | -609 | -674 | -482 | -1,298 | -634 | -81 | -423 | -308 | -353 | -607 | -408 | -216 | -251 | -245 | -360 | -352 | -257 | 927 |
Net Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Foreign Exchange Rate Adjustments | 17 | -44 | -4 | -8 | 100 | 48 | -93 | 69 | -9 | -25 | 54 | -37 | 3 | 21 | 77 | -52 | -53 | -18 | -12 | -23 |
Net Cash Flow | -2 | -915 | 203 | 7 | 35 | -269 | -234 | 7 | 159 | 346 | 124 | -272 | 159 | 350 | 113 | 39 | -133 | -61 | -428 | -570 |
Free Cash Flow
Fiscal Quarter | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 |
Free Cash Flow | 688 | 844 | 777 | 658 | 468 | 672 | 600 | 631 | 593 | 697 | 404 | 391 | 550 | 535 | 298 | 265 | 217 | 411 | 237 | 403 |
Free Cash Flow Growth (YoY) | 47.01% | 25.60% | 29.50% | 4.28% | -21.08% | -3.59% | 48.52% | 61.38% | 7.82% | 30.28% | 35.57% | 47.55% | 153.46% | 30.17% | 25.74% | -34.24% | -61.52% | -37.91% | -62.85% | -17.76% |
FCF Margin | 31.49% | 40.60% | 41.13% | 32.79% | 24.66% | 34.93% | 35.89% | 34.80% | 32.64% | 39.03% | 27.30% | 26.56% | 36.81% | 36.39% | 23.10% | 20.78% | 15.71% | 27.00% | 15.40% | 26.41% |
Free Cash Flow Per Share | 3.94 | 4.76 | 4.35 | 3.66 | 2.60 | 3.72 | 3.30 | 3.46 | 3.24 | 3.80 | 2.20 | 2.13 | 2.99 | 2.91 | 1.62 | 1.44 | 1.17 | 2.21 | 1.26 | 2.15 |
Levered Free Cash Flow | 729 | 805 | 1,062 | 602 | 292 | -94 | 743 | 557 | 397 | 812 | 480 | 57 | 307 | 539 | 273 | 163 | -56 | 943 | 465 | 1,786 |
Unlevered Free Cash Flow | 636.17 | 844.51 | 1,137 | 640.31 | 327.5 | 638.65 | 770.09 | 583.59 | 441.07 | 849.6 | 516.27 | 396.44 | 351.44 | 586.53 | 383.2 | 191.45 | -8.02 | 490.43 | 469.34 | 651.65 |