Jun 2026 (Q2 FY26) — Jul 22, 2026
Moody's Q2 FY26 — Standout Quarter with Broad-Based Strength and Raised Guidance
Read the full callMOODYS (MCO) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
MOODYS earnings: last reported Wed, 22 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,185 | +15.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 47.9 | +4.8 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 878 | +51.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
35 of 41 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Moody's Ratings (MIS) revenue growth | mid-teens percent in the first half | Dec 2025 | In this past quarter, Ratings delivered 25% revenue growth with broad-based strength across all asset classes | Achieved |
| Full-year adjusted diluted EPS | $16.40 to $17.00 | Dec 2025 | we are raising the low end of the range by $0.10, bringing full year guidance to $16.50 to $17 or 12% growth at the midpoint | Revised Up |
| Moody's Ratings (MIS) revenue growth | somewhere in the mid-20s percent | Dec 2025 | Both MIS and MA grew revenues by 8%... obviously, we held the guidance but the issuance has been a little softer than we had expected | Missed |
6 of MOODYS CORP /DE/'s 69 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 66 more targets are in the full ledger.
Claimed
- Enterprise revenue grew 15% YoY.
- Adjusted operating income grew 25% YoY.
- Adjusted operating margin expanded 440 bps to 55.3%.
- Adjusted diluted EPS grew 31% to $4.68.
- MIS transaction revenue grew 34%, rating over $2 trillion of debt for the second consecutive quarter.
- MA ARR reached approximately $3.7 billion, up nearly 9% from prior year, with 95% TTM retention.
- Full-year share repurchase guidance raised to up to $3 billion.
Qualified
- MIS revenue outlook maintained despite issuance upgrade due to less rich mix from data center and financial institution transactions.
- MA transactional revenue declined 72% year-over-year to about $10 million due to deliberate portfolio repositioning.
- Full-year free cash flow guidance adjusted down by $100 million to $2.7 billion - $2.9 billion due to working capital and restructuring costs.
Price
$481.26 −0.79% · −$3.81
Performance +2.2% 1Y
1Y: $471.04 on 17 Oct 2025 → $481.26. High $539.61 (15 Jan 2026), low $412.23 (11 Feb 2026).
- Previous close
- $485.07
- 52-week range
- $412.23 – $539.61
- One year
- +1.43%
Overview
- Symbol
- MCO
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
35 of 41 judged targets kept · 28 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Moody's Ratings (MIS) revenue growth | mid-teens percent in the first half | Dec 2025 | In this past quarter, Ratings delivered 25% revenue growth with broad-based strength across all asset classes | Achieved |
| Full-year adjusted diluted EPS | $16.40 to $17.00 | Dec 2025 | we are raising the low end of the range by $0.10, bringing full year guidance to $16.50 to $17 or 12% growth at the midpoint | Revised Up |
| Moody's Ratings (MIS) revenue growth | somewhere in the mid-20s percent | Dec 2025 | Both MIS and MA grew revenues by 8%... obviously, we held the guidance but the issuance has been a little softer than we had expected | Missed |
Claimed
- Enterprise revenue grew 15% YoY.
- Adjusted operating income grew 25% YoY.
- Adjusted operating margin expanded 440 bps to 55.3%.
- Adjusted diluted EPS grew 31% to $4.68.
- MIS transaction revenue grew 34%, rating over $2 trillion of debt for the second consecutive quarter.
- MA ARR reached approximately $3.7 billion, up nearly 9% from prior year, with 95% TTM retention.
- Full-year share repurchase guidance raised to up to $3 billion.
Qualified
- MIS revenue outlook maintained despite issuance upgrade due to less rich mix from data center and financial institution transactions.
- MA transactional revenue declined 72% year-over-year to about $10 million due to deliberate portfolio repositioning.
- Full-year free cash flow guidance adjusted down by $100 million to $2.7 billion - $2.9 billion due to working capital and restructuring costs.
The full ledger
Open MOODYS CORP /DE/’s full ledger
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Call summaries
Mar 2026 (Q1 FY26) — Apr 22, 2026
Moody's Corporation Q1 FY26 — Strong Performance Driven by Ratings Issuance and Analytics Growth
Read the full callDec 2025 (Q4 FY25) — Feb 18, 2026
Moody's Q4 FY25 — Record Year Driven by Strong Ratings and Analytics Performance
Read the full callEvery analysed call
MOODYS earnings calls (MCO)
Financials
What the filings say
Net profit, year on year: +52% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,813 | 1,672 | 1,924 | 1,898 | 2,007 | 1,889 | 2,079 | 2,185 |
| Expenses | 1,075 | 1,111 | 1,078 | 1,080 | 1,090 | 1,119 | 1,157 | 1,139 |
| Operating profit | 738 | 561 | 846 | 818 | 917 | 770 | 922 | 1,046 |
| Operating margin | 40.7% | 33.5% | 44.0% | 43.1% | 45.7% | 40.8% | 44.4% | 47.9% |
| Other income | -35 | -36 | -42 | -46 | -50 | -83 | -52 | 125 |
| Profit before tax | 703 | 525 | 804 | 772 | 867 | 687 | 870 | 1,171 |
| Tax rate | 24.0% | 24.8% | 22.3% | 25.0% | 25.4% | 11.1% | 24.0% | 24.9% |
| Net profit | 534 | 395 | 625 | 578 | 646 | 610 | 661 | 878 |
| EPS ($ per share) | 2.94 | — | 3.47 | 3.22 | 3.61 | — | 3.74 | 5.04 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | — | — | — | — | — |
| Reserves | 8,594 | 9,656 | 11,011 | 12,762 | 13,618 | 14,659 | 16,071 | 17,853 |
| Total liabilities | 8,870 | 9,428 | 10,646 | 11,764 | 11,660 | 11,146 | 11,778 | 11,625 |
| Fixed assets | 320 | 292 | 278 | 347 | 502 | 603 | 656 | 722 |
| Investments | 133 | 98 | 99 | 91 | 90 | 63 | 566 | 64 |
| Total assets | 9,526 | 10,265 | 12,409 | 14,680 | 14,349 | 14,622 | 15,505 | 15,830 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1,461 | 1,675 | 2,146 | 2,005 | 1,474 | 2,151 | 2,838 | 2,901 |
| Cash from investing | -406 | 36 | -1,077 | -2,619 | -262 | -247 | -1,056 | 2 |
| Cash from financing | -412 | -1,563 | -351 | -122 | -1,208 | -1,584 | -1,446 | -3,063 |
| Net cash flow | 613 | 147 | 765 | -786 | -42 | 361 | 278 | -24 |
| Capital expenditure | -91 | -69 | -103 | -139 | -283 | -271 | -317 | -326 |
| Free cash flow | 1,370 | 1,606 | 2,043 | 1,866 | 1,191 | 1,880 | 2,521 | 2,575 |
MCO revenue by segment
Moodys Investors Service grew from 54% to 58% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Moodys Investors Service | 54% | 48% | 55% | 53% | 55% | 50% | 55% | 58% | +24.8% |
| Moodys Analytics | 46% | 52% | 45% | 47% | 45% | 50% | 45% | 42% | +4.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
MCO operating KPIs by quarter
| KPI | Sep 2025 Q3 FY25 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Retention rate Moody's Analytics | 93%93% recurring revenue, a 93% retention rate, and consistent growth at scale.Source: earnings call transcript | 95%That was up nearly 9% from the prior year, with trailing 12-month retention remaining strong at 95%.Source: earnings call transcript | +2 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- US 56% ↑ 1 pt
- EMEA 30%
- Asia Pacific 9%
- Americas 6% ↓ 1 pt
As MCO cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
123 filings between Oct 28, 2025 and Oct 1, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$13.75M
36 sales by 5 insiders
86% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 56
- Award — granted as compensation
- 25
- Option exercise — converted options into shares
- 6
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Fauber Robert | — | $9.49M | Oct 1, 2026 |
| West Michael L | — | $3.59M | Mar 4, 2026 |
| Steele Richard G | — | $470.2K | Jul 1, 2026 |
| Phillips Jason D | — | $157.4K | Mar 4, 2026 |
| Heuland Noemie Clemence | — | $46.6K | Mar 4, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 1, 2026 | Phillips Jason D Chief Acctg Off & Controller | Tax withheld | 21 | $9.6K |
| Oct 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 623 | $283.5K |
| Oct 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 572 | $95.8K |
| Oct 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 51 | $5.8K |
| Oct 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 300 | $136.5K |
| Sep 4, 2026 | Esperdy Therese Director | Award | 11 | $0 |
| Sep 4, 2026 | Bermudez Jorge A. Director | Award | 1 | $0 |
| Sep 4, 2026 | Bermudez Jorge A. Director | Award | 16 | $0 |
| Sep 4, 2026 | VAN SAUN BRUCE Director | Award | 13 | $0 |
| Sep 4, 2026 | Seidman Leslie Director | Award | 14 | $0 |
| Sep 4, 2026 | Seidman Leslie Director | Award | 2 | $0 |
| Sep 4, 2026 | VAN SAUN BRUCE Director | Award | 7 | $0 |
| Sep 4, 2026 | FORLENZA VINCENT A Director | Award | 15 | $0 |
| Sep 4, 2026 | Sawicki Lisa P Director | Award | 1 | $0 |
| Sep 4, 2026 | Minaya Jose Director | Award | 6 | $0 |
| Sep 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 592 | $67.1K |
| Sep 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 300 | $150.6K |
| Sep 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 575 | $96.3K |
| Sep 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 1,167 | $585.7K |
| Aug 3, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 575 | $96.3K |
| Aug 3, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 592 | $67.1K |
| Aug 3, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 300 | $145.3K |
| Aug 3, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 1,167 | $565.2K |
| Jul 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 575 | $96.3K |
| Jul 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 592 | $67.1K |
| Jul 1, 2026 | Steele Richard G SVP - General Counsel | Sale 10b5-1 plan | 157 | $71.5K |
| Jul 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 1,167 | $531.6K |
| Jul 1, 2026 | Kosmowski Christina CEO, Moody's Analytics | Award | 21,542 | $0 |
| Jul 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 300 | $136.6K |
| Jun 5, 2026 | Bermudez Jorge A. Director | Award | 1 | $0 |
| Jun 5, 2026 | Bermudez Jorge A. Director | Award | 19 | $0 |
| Jun 5, 2026 | FORLENZA VINCENT A Director | Award | 17 | $0 |
| Jun 5, 2026 | VAN SAUN BRUCE Director | Award | 15 | $0 |
| Jun 5, 2026 | Seidman Leslie Director | Award | 16 | $0 |
| Jun 5, 2026 | VAN SAUN BRUCE Director | Award | 7 | $0 |
| Jun 5, 2026 | Sawicki Lisa P Director | Award | 1 | $0 |
| Jun 5, 2026 | Minaya Jose Director | Award | 7 | $0 |
| Jun 5, 2026 | Esperdy Therese Director | Award | 12 | $0 |
| Jun 5, 2026 | Seidman Leslie Director | Award | 2 | $0 |
| Jun 1, 2026 | Steele Richard G SVP - General Counsel | Sale 10b5-1 plan | 158 | $71.7K |
| Jun 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 1,167 | $529.4K |
| Jun 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 300 | $136.1K |
| Jun 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 575 | $96.3K |
| Jun 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 592 | $67.1K |
| May 1, 2026 | Steele Richard G SVP - General Counsel | Sale 10b5-1 plan | 158 | $73.7K |
| May 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 575 | $96.3K |
| May 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 1,167 | $544.3K |
| May 1, 2026 | Fauber Robert President and CEO | Option exercise 10b5-1 plan | 592 | $67.1K |
| May 1, 2026 | Fauber Robert President and CEO | Sale 10b5-1 plan | 300 | $139.9K |
| Apr 1, 2026 | Steele Richard G SVP - General Counsel | Sale 10b5-1 plan | 34 | $14.9K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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