Moody's Corporation
MCONYSE
$492.52
Last price · USD
- Market cap
- $88.60B
- P/E
- 36.0x
- EV / EBITDA
- 23.8x
- P/S
- 11.5x
- FCF yield
- 2.9%
- Div. yield
- 0.79%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
Moody's Corporation cash flow statement
Annual · USD millions except per-share data · 33 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 2,459 | 2,058 | 1,607 | 1,374 | 2,214 | +2.7% | |
| Depreciation & amortization | 480 | 431 | 373 | 331 | 257 | +16.9% | |
| Deferred income tax | (17) | (62) | (38) | 48 | (218) | — | |
| Stock-based compensation | 232 | 0 | 0 | 0 | 0 | — | |
| Change in working capital | (254) | 150 | (38) | (427) | (400) | — | |
| Accounts receivables | (203) | (187) | (12) | 34 | (257) | — | |
| Accounts payables | (55) | 225 | 76 | (161) | 80 | — | |
| Other working capital | 4 | 112 | (102) | (300) | (223) | — | |
| Other non-cash items | 1 | 261 | 247 | 148 | 152 | -71.5% | |
| Net cash from operating activities | 2,901 | 2,838 | 2,151 | 1,474 | 2,005 | +9.7% | |
| Operating cash flow | 2,901 | 2,838 | 2,151 | 1,474 | 2,005 | +9.7% | |
| Investing activities | |||||||
| Investments in PP&E | (326) | (317) | (271) | (283) | (139) | — | |
| Capital expenditure | (326) | (317) | (271) | (283) | (139) | — | |
| Acquisitions, net | (187) | (221) | (3) | (97) | (2,179) | — | |
| Purchases of investments | (207) | (655) | (148) | (320) | (437) | — | |
| Sales / maturities of investments | 690 | 137 | 175 | 218 | 147 | +47.2% | |
| Other investing activities | 32 | 0 | 0 | 220 | (11) | — | |
| Net cash from investing activities | 2 | (1,056) | (247) | (262) | (2,619) | — | |
| Financing activities | |||||||
| Net debt issuance | (700) | 491 | (500) | 352 | 1,141 | — | |
| Long-term net debt issuance | (700) | 491 | (500) | 352 | 1,141 | — | |
| Net stock issuance | (1,657) | (1,310) | (511) | (1,044) | (795) | — | |
| Common stock issuance | 49 | 73 | 50 | 26 | 38 | +6.6% | |
| Common stock repurchased | (1,706) | (1,383) | (561) | (1,070) | (833) | — | |
| Net common stock issuance | (1,657) | (1,310) | (511) | (1,044) | (795) | — | |
| Common dividends paid | (701) | (620) | (564) | (515) | (463) | — | |
| Net dividends paid | (701) | (620) | (564) | (515) | (463) | — | |
| Other financing activities | (5) | (7) | (9) | (1) | (5) | — | |
| Net cash from financing activities | (3,063) | (1,446) | (1,584) | (1,208) | (122) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 136 | (58) | 41 | (46) | (50) | — | |
| Net change in cash | (24) | 278 | 361 | (42) | (786) | — | |
| Cash at beginning of period | 2,408 | 2,130 | 1,769 | 1,811 | 2,597 | -1.9% | |
| Cash at end of period | 2,384 | 2,408 | 2,130 | 1,769 | 1,811 | +7.1% | |
| Free cash flow | 2,575 | 2,521 | 1,880 | 1,191 | 1,866 | +8.4% | |