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Moody’s Corporation

MCOActive

CIK 1059556 · Financial Data & Exchange Roll-Ups

Moody’s Corporation is a public company in Financial - Data & Stock Exchanges, tracked in the financial data and exchange rollups sub-sector, with $7.9B TTM revenue and $4.0B TTM EBITDA.

Market data as of May 10, 2026

Financials: LTM / latest available company filings

Sources: FMP, MCO filings, SEC EDGAR

$78,846

Market cap ($MM)

$84,690

Enterprise value ($MM)

$7,873

Revenue · LTM ($MM)

$3,950

EBITDA · LTM ($MM)

50%

EBITDA margin

10.8x

EV / revenue

21.4x

EV / EBITDA

1.4x

Net debt / EBITDA

Coverage

Coverage view

The analytical read on the name and the balance-sheet capacity behind the program.

Key points

  1. 01MCO is a scaled public consolidator in Data & Exchanges, a benchmark for how the sub-sector buys, pays, and trades.
  2. 02The relevant peer set is ICE, SPGI, FDS, MSCI, FICO.

Balance sheet & capacity

Indicative capacity read: 1.4x net debt / EBITDA with EBITDA of $4.0B.

$1,469

Cash & equiv. ($MM)

$6,963

Total debt ($MM)

$5,494

Net debt ($MM)

1.4x

Net debt / EBITDA

Valuation

Where it trades against its peer set

MCO versus the scaled public Financial Data & Exchange Roll-Ups comparables.

EV / EBITDA distribution · peer set

MCO 21.4x

19.4xFDS: 10.1x EV/EBITDAFDSICE: 16.2x EV/EBITDAICESPGI: 17.4x EV/EBITDASPGIMCO: 21.4x EV/EBITDAMCOMSCI: 24.5x EV/EBITDAMSCIFICO: 25.4x EV/EBITDAFICO7.6x27.9x

Indexed share-price performance

MCO versus available Financial Data & Exchange Roll-Ups peers and SPY.

+35%

MCO

+26%

Peer med.

+79%

SPY

19112660May 21Nov 23May 26MCOpeer medianSPY

Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.

CompanyTickerRevenue ($MM)EBITDA ($MM)MarginMarket cap ($MM)EV ($MM)EV / revEV / EBITDANet debt / EBITDA
Moody’s CorporationMCO$7,873$3,95050%$78,846$84,69010.8x21.4x1.4x
Intercontinental Exchange, Inc.ICE$13,075$6,63351%$88,118$107,6098.2x16.2x3.2x
S&P Global Inc.SPGI$15,730$7,83050%$124,356$136,3228.7x17.4x1.5x
Factset Research Systems Inc.FDS$2,401$93739%$8,146$9,4323.9x10.1x1.2x
Msci Inc.MSCI$3,239$1,98861%$42,619$48,78115.1x24.5x3.0x
Fair Isaac CorpFICO$2,256$1,16352%$26,113$29,55013.1x25.4x2.9x
Financial Data & Exchange Roll-Ups median$5,556$2,96950%$60,732$66,7359.7x19.4x2.2x

Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.

M&A program

A sustained, programmatic tuck-in cadence

MCO's disclosed acquisition footprint and the deals behind it.

Disclosed acquisitions

89

Active years

20

Named deals

10

Avg / active year

4.5

Acq. cash outflow ($MM)

N/A

Banker read

  • 01MCO reads as a programmatic acquirer: 89 disclosed acquisitions across 20 active years, or 4.5 per active year. The chart shows activity in 7 of the last 12 visible years.
  • 02In the last three years, the file shows 0 acquisitions versus 7 in the prior three; recent activity has cooled versus the prior three-year period.
  • 03Spend changes the read: $8.6B of disclosed spend is concentrated in lumpy years, with FY17 the largest year at $3.5B. Recent spend is below the prior three-year period.

Annual acquisitions + disclosed spend

count spend named deal
4 deals$3.5B141516171819202122232425

MCO count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.

Program diagnostics

Recent / prior

0 / 7

Last three years is down 100% vs prior three.

Peak count year

FY14

4 disclosed acquisitions in the peak visible year.

Recent spend

$451MM

is down 86% vs prior three; peak FY17 at $3.5B.

Named evidence

10 rows

11% selected source-cited transaction coverage.

Selected transactions

DateTargetSegmentConsideration ($MM)Strategic rationaleSource
Aug 10, 2017Yellow Maple I B.V., an indirect parent company of Bureau van Dijk Electronic Publishing B.V.Financial data and exchange rollups$3,542On August 10, 2017, a subsidiary of the Company acquired 100% of Yellow Maple I B.V., an indirect parent company of Bureau van Dijk Electronic Publishing B.V., a global provider...10-K†
Aug 10, 2017Bureau van Dijk Electronic Publishing, B.V.Financial data and exchange rollups$3,542In August 2017, Moody’s acquired Bureau van Dijk for $3,542.0 million. The anticipated growth, synergies and other strategic objectives of the Bureau van Dijk acquisition, as we...10-K†
Aug 10, 2017Yellow Maple I B.V.Financial data and exchange rollups$3,542On August 10, 2017, a subsidiary of the Company acquired 100% of Yellow Maple I B.V., an indirect parent company of Bureau van Dijk Electronic Publishing B.V., a global provider...10-K†
Feb 13, 2020Regulatory Data CorporationFinancial data and exchange rollups$700On February 13, 2020, the Company completed the acquisition of Regulatory Data Corporation for $700 million.10-K†
Oct 15, 2018Reis, Inc.Financial data and exchange rollups$278On October 15, 2018, a subsidiary of the Company acquired 100% of Reis, Inc., a provider of commercial real estate market information and analytical tools to real estate profess...10-K†
Apr 12, 2002KMVFinancial data and exchange rollups$213On April 12, 2002, Moody’s acquired the businesses comprising KMV. The acquisition expands the product offerings and customer base of Moody’s credit risk assessment business, wh...10-K†
Apr 12, 2002KMVFinancial data and exchange rollups$213On April 12, 2002, Moody’s acquired the businesses comprising KMV. The acquisition expands the product offerings and customer base of Moody’s credit risk assessment business, wh...10-K†
Oct 9, 2008Fermat International SAFinancial data and exchange rollups$211On October 9, 2008, a subsidiary of the Company acquired Fermat International SA, a provider of risk and performance management software to the global banking sector, which is n...10-K†

Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 16 SEC-backed facts across 9 cited filings.

Evidence

Source archive

A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.

Annual 10-Ks

23

Named deal filings

8

Recent SEC filings

10

Evidence clips

6

Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.23 rows+
Fiscal yearFiling dateFormStatusCountCash spendPurchase considerationSource
FY2025Feb 18, 2026Annual M&A 10-Kwarning (1 warn)N/A$227MMN/ASEC filing
FY2024Feb 14, 2025Annual M&A 10-Kwarning (1 warn)N/A$221MMN/ASEC filing
FY2023Feb 14, 2024Annual M&A 10-Kwarning (1 warn)N/A$3.0MMN/ASEC filing
FY2022Feb 15, 2023Annual M&A 10-Kwarning (1 warn)N/A$97.0MMN/ASEC filing
FY2021Feb 22, 2022Annual M&A 10-Kaccepted3$2.2B$2.2BSEC filing
FY2020Feb 22, 2021Annual M&A 10-Kaccepted3$897MM$902MMSEC filing
FY2019Feb 24, 2020Annual M&A 10-Kaccepted3$162MM$278MMSEC filing
FY2018Feb 25, 2019Annual M&A 10-Kquarantined (1 issue)2$289MM$278MMSEC filing
FY2017Feb 27, 2018Annual M&A 10-Kaccepted2$3.5B$3.5BSEC filing
FY2016Feb 24, 2017Annual M&A 10-Kaccepted2$80.8MM$86.5MMSEC filing
FY2015Feb 25, 2016Annual M&A 10-Kwarning (1 warn)2$7.6MMN/ASEC filing
FY2014Feb 26, 2015Annual M&A 10-Kwarning (1 warn)3$240MM$500MMSEC filing
FY2013Feb 27, 2014Annual M&A 10-Kaccepted1$50.7MM$71.6MMSEC filing
FY2012Feb 26, 2013Annual M&A 10-Kquarantined (1 issue)2$3.5MM$279MMSEC filing
FY2011Feb 27, 2012Annual M&A 10-Kquarantined (1 issue)2$198MM$372MMSEC filing
FY2010Feb 28, 2011Annual M&A 10-Kaccepted1$149MM$151MMSEC filing
FY2009Mar 1, 2010Annual M&A 10-Kquarantined (1 issue)4$0.9MM$211MMSEC filing
FY2008Mar 2, 2009Annual M&A 10-Kaccepted4$241MM$211MMSEC filing
FY2007Feb 29, 2008Annual M&A 10-Kwarning (1 warn)N/A$4.4MMN/ASEC filing
FY2006Mar 1, 2007Annual M&A 10-Kquarantined (1 warn, 1 issue)2$39.2MMN/ASEC filing
FY2005Mar 1, 2006Annual M&A 10-Kaccepted1$29.1MM$27.7MMSEC filing
FY2004Mar 8, 2005Annual M&A 10-Kwarning (1 warn)N/A$3.5MMN/ASEC filing
FY2003Mar 12, 2004Annual M&A 10-KacceptedN/AN/AN/ASEC filing
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.8 rows+
Filing dateFormTargets / topicsSupportSource
Feb 24, 202010-KYellow Maple I B.V., an indirect parent company of Bureau van Dijk Electronic Publishing B.V.; Regulatory Data Corporation; Reis, Inc.Annual M&ANamed dealsSEC filing
Feb 25, 201910-KBureau van Dijk Electronic Publishing, B.V.Annual M&ANamed dealsSEC filing
Feb 27, 201810-KYellow Maple I B.V.Annual M&ANamed dealsSEC filing
Feb 24, 201710-KICRA LimitedAnnual M&ANamed dealsSEC filing
Feb 28, 201110-KFermat International SAAnnual M&ANamed dealsSEC filing
Mar 2, 200910-KFermat InternationalAnnual M&ANamed dealsSEC filing
Mar 8, 200510-KKMVAnnual M&ANamed dealsSEC filing
Mar 12, 200410-KKMVAnnual M&ANamed dealsSEC filing
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.10 rows+
Filing dateFormItemsDescriptionSupportSource
Feb 18, 202610-KN/A10-KFinancialsAnnual M&ARecent SECSEC filing
Apr 23, 202610-QN/A10-QRecent SECSEC filing
Apr 22, 20268-K2.02,7.01,9.018-KRecent SECSEC filing
Apr 16, 20268-K5.078-KRecent SECSEC filing
Apr 15, 20268-K7.01,9.018-KRecent SECSEC filing
Apr 1, 202610-QN/AQuarterly report from SEC company indexRecent SECSEC filing
Mar 4, 2026DEFA14AN/ADEFA14ARecent SECSEC filing
Mar 4, 2026DEF 14AN/ADEF 14ARecent SECSEC filing
Feb 18, 20268-K2.02,7.01,9.018-KRecent SECSEC filing
Feb 1, 202610-KN/AAnnual report from SEC company indexRecent SECSEC filing
Evidence clipsShort excerpts used on the page; expand only when you want the language.6 rows+

Bureau van Dijk

10-K - Feb 24, 2020

Medium

On August 10, 2017, a subsidiary of the Company acquired 100% of Yellow Maple I B.V., an indirect parent company of Bureau van Dijk Electronic Publishing B.V., a global provider of business intelligence and company info…

SEC source

Bureau van Dijk

10-K - Feb 25, 2019

Medium

In August 2017, Moody’s acquired Bureau van Dijk for $3,542.0 million. The anticipated growth, synergies and other strategic objectives of the Bureau van Dijk acquisition, as well as other completed transactions, may no…

SEC source

Bureau van Dijk

10-K - Feb 27, 2018

Medium

On August 10, 2017, a subsidiary of the Company acquired 100% of Yellow Maple I B.V., an indirect parent company of Bureau van Dijk Electronic Publishing B.V., a global provider of business intelligence and company info…

SEC source

Regulatory Data Corporation

10-K - Feb 24, 2020

Medium

On February 13, 2020, the Company completed the acquisition of Regulatory Data Corporation for $700 million.

SEC source

Reis

10-K - Feb 24, 2020

Medium

On October 15, 2018, a subsidiary of the Company acquired 100% of Reis, Inc., a provider of commercial real estate market information and analytical tools to real estate professionals. The cash payment of $278 million w…

SEC source

KMV

10-K - Mar 8, 2005

Medium

On April 12, 2002, Moody’s acquired the businesses comprising KMV. The acquisition expands the product offerings and customer base of Moody’s credit risk assessment business, which was previously o...

SEC source

Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.

Prepared from SEC EDGAR public filingsMCO · CIK 1059556Source-backed coverage research, not investment advice