Moody’s Corporation: A 6.6 Trillion Debt Rating Cycle Resets Growth Expectations

Moody’s Corporation concluded a robust fiscal year 2025 with strong fourth-quarter performance, achieving record levels of revenue and expanding its operating margin. Total revenue for the year exceeded $7.7 billion, representing a 9% year-over-year increase, supported by consistent growth within both the Ratings and Analytics segments. The company’s adjusted operating margin expanded by 300 basis points to 51.1%. Moody’s recorded a notable adjusted diluted EPS of $14.94, a 20% increase year-over-year, indicating a significant earnings growth trajectory over the past three years. Within the Ratings segment, 2025 was characterized by a synergistic convergence of issuance and investment cycles, propelling revenue to unprecedented levels. The company rated $6.6 trillion of debt, marking an all-time high, with significant contributions from investments in infrastructure, AI-driven initiatives, energy finance, and private credit. The fourth quarter alone saw over $70 billion in issuances, including major companies such as Alphabet, Amazon, and Meta.

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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