MOODYS CORP /DE/
$508.20
+1.64 (+0.32%) · delayed · Nov 13, 2026
Five-year price
52w $402.28 to $546.88
- Market cap
- $87.6B
- Enterprise value
- $92.2B
- P/E
- 37.2×
- 45.3× on 3y avg EPS
- EV / EBIT
- 27.5×
- FCF yield
- 2.9%
- ROIC
- 30.4%
- Debt / equity
- 1.73
- Piotroski F
- 7/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
100
- ●ROIC > 12% (5y avg)5y avg ROIC 24.6%
- ●ROE > 15% (5y avg)5y avg ROE 60.5%
- ●Stable operating marginsMargin volatility 4.3% (σ, 5y)
- ●Earnings convert to cashFCF / net income 103% (5y avg)
- ●Growing revenueRevenue CAGR 5y 7.5%
- ●Shrinking share countDiluted shares -5.0% over 5y
Value
0
- ○P/E below 15P/E 37.2
- ○EV/EBIT below 12EV/EBIT 27.5
- ○FCF yield above 6%FCF yield 2.9%
- ○Price below Graham NumberGraham Number $85.04
- ○P/B below 3P/B 21.6
Safety
80
- ○Debt / equity below 0.5D/E 1.73
- ●Debt payable in < 4 yrs of earningsNet debt $4.6B
- ●Interest coverage > 8xCoverage 14.3x
- ●Current ratio > 1.5Current ratio 1.74
- ●Piotroski F-score ≥ 6F-score 7/9
Graham Defensive
57
- ●Adequate size (revenue > $2B)Revenue $7.7B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.74
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 154%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 45.3
- ○P/E × P/B ≤ 22.5Product 978.9
Valuation lab
What do you have to believe?
At $508.20, the market is pricing in about 13.4% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $4.6B · 172M shares · 5y revenue CAGR 7.5%
Intrinsic value
$330.08
Price
$508.20
Premium paid
54%
What the price implies
The market is paying for 13.4% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
60% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 3,604 | 4,204 | 4,443 | 4,829 | 5,371 | 6,218 | 5,468 | 5,916 | 7,088 | 7,718 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | 651 | 1,821 | 1,868 | 1,998 | 2,388 | 2,844 | 1,883 | 2,137 | 2,875 | 3,351 |
| Operating margin | 18.1% | 43.3% | 42.0% | 41.4% | 44.5% | 45.7% | 34.4% | 36.1% | 40.6% | 43.4% |
| Pre-tax income | 558 | 1,787 | 1,672 | 1,810 | 2,229 | 2,755 | 1,760 | 1,935 | 2,699 | 3,130 |
| Income tax | 282 | 779 | 352 | 381 | 452 | 541 | 386 | 327 | 640 | 668 |
| Net income | 267 | 1,001 | 1,310 | 1,422 | 1,778 | 2,214 | 1,374 | 1,607 | 2,058 | 2,459 |
| EPS (diluted) | 1.36 | 5.15 | 6.74 | 7.42 | 9.39 | 11.78 | 7.44 | 8.73 | 11.26 | 13.67 |
| Diluted shares | 195 | 194 | 194 | 192 | 189 | 188 | 185 | 184 | 183 | 180 |
Who owns it