Moody's (MCO) 10-K Summary — Year Ended Dec 31, 2023
Moody's Corporation filed its annual report for the most recent fiscal year. The company reported revenue growth compared to the prior year, with operating cash flow exceeding net income.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Moody's Corporation filed its annual report for the most recent fiscal year. The company reported revenue growth compared to the prior year, with operating cash flow exceeding net income.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$5.9B
Revenue reported for the fiscal year.
Operating income
$2.1B
Income from operations reported for the year.
Net income
$1.6B
Net income reported for the year.
Operating cash flow
$2.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $6.2B | n/a |
| Dec 31, 2022 | $5.5B | -12.1% |
| Dec 31, 2023 | $5.9B | +8.2% |
Business overview
Moody's provides financial analysis and credit ratings through its Moody's Investors Service and Moody's Analytics segments. The company serves global capital markets and institutions, offering data, analytics, and risk management solutions. Its business is subject to regulation and competition in the financial services industry.
Financial performance
Revenue increased from the previous year, while operating income and net income were reported. Operating cash flow was strong, supporting the company's financial position. The trend shows a recovery after a prior decline in revenue.
Material risks
The filing discusses risks related to regulatory changes, economic conditions, and competition. Potential litigation and reliance on key personnel are also noted. Changes in credit markets or rating methodologies could materially affect operations.
Liquidity and capital
The company's liquidity and capital resources are supported by operating cash flow. Capital allocation priorities may include investments in growth and returning value to shareholders.
What to watch
Readers should monitor any changes in the regulatory environment affecting credit rating agencies.