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Arphra AIPlain-English read on Moody's Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $6.22B | $5.47B | $5.92B | $7.09B | $7.72B | $8.24B | $8.86B | $9.54B | $9.99B |
| Cost of revenue | $1.89B | $1.94B | $2.06B | $2.38B | $2.46B | $2.69B | $2.98B | $3.13B | $3.24B |
| Gross profit | $4.32B | $3.52B | $3.85B | $4.71B | $5.26B | $5.32B | $6.06B | $6.31B | $6.81B |
| Gross margin | +69.54% | +64.45% | +65.15% | +66.41% | +68.15% | +64.61% | +68.34% | +66.15% | +68.15% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $1.48B | $1.53B | $1.63B | $1.74B | $1.8B | $2.08B | $2.19B | $2.4B | $2.49B |
| Total operating expenses | $1.48B | $1.53B | $1.63B | $1.74B | $1.81B | $2.1B | $2.16B | $2.36B | $2.52B |
| Operating income | $2.84B | $2B | $2.22B | $2.97B | $3.46B | $3.34B | $3.65B | $3.99B | $4.02B |
| Operating margin | +45.74% | +36.52% | +37.54% | +41.92% | +44.77% | +40.50% | +41.22% | +41.81% | +40.29% |
| EBITDA | $3.26B | $2.31B | $2.52B | $3.33B | $3.94B | $3.9B | $4.23B | $4.6B | $4.78B |
| EBIT | $3B | $1.98B | $2.14B | $2.9B | $3.46B | $3.33B | $3.68B | $3.85B | $4.03B |
| Below the line | |||||||||
| Interest expense | $243M | $216M | $207M | $204M | $189M | $235.51M | $255.74M | $278.11M | $286.12M |
| Interest income | $9M | $15M | $63M | $102M | $65M | $91.83M | $98.99M | $109.05M | $113.19M |
| Other income / expense | -$89M | -$237M | -$286M | -$272M | -$325M | — | — | — | — |
| Pre-tax income | $2.76B | $1.76B | $1.94B | $2.7B | $3.13B | $3.13B | $3.3B | $3.52B | $3.69B |
| Income tax expense | $541M | $386M | $327M | $640M | $668M | $624.94M | $693.8M | $739.6M | $760.78M |
| Earnings | |||||||||
| Net income | $2.21B | $1.37B | $1.61B | $2.06B | $2.46B | $2.41B | $2.66B | $2.78B | $2.98B |
| Net income · continuing ops | $2.21B | $1.37B | $1.61B | $2.06B | $2.46B | $2.42B | $2.61B | $2.79B | $2.91B |
| Net margin | +35.61% | +25.13% | +27.16% | +29.03% | +31.86% | +29.23% | +29.97% | +29.13% | +29.89% |
| EPS · basic | $11.88 | $7.47 | $8.77 | $11.32 | $13.73 | $16.96 | $18.98 | $20.50 | $22.59 |
| EPS · diluted | $11.78 | $7.44 | $8.73 | $11.26 | $13.67 | $16.71 | $18.65 | $20.68 | $22.62 |
| EPS · low estimate | — | — | — | — | — | $16.39 | $17.95 | $20.27 | $22.18 |
| EPS · high estimate | — | — | — | — | — | $16.88 | $19.14 | $21.31 | $23.17 |
| Shares · basic | 186.4M | 183.9M | 183.2M | 181.8M | 179.1M | 178.5M | 179.81M | 178.72M | 179.94M |
| Shares · diluted | 187.9M | 184.7M | 184M | 182.7M | 179.9M | 181.29M | 178.22M | 178.31M | 178.74M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 16 | 16 | 12 | 11 |
| Analysts (EPS) | — | — | — | — | — | 15 | 15 | 6 | 4 |
Coverage notes. Historical figures come from FMP’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS from FMP consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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