← MCO
MCO
MOODYS CORP /DE/ Segment Breakdown
Relationship Revenue
Transaction Revenue
Assets Backed Securities
Bank Loans
Banking
Commercial Real Estate Finance
High Yield
Insurance
Investment Grade
Managed Investments
Other Product Lines
Project And Infrastructure
Public Finance Sovereign
Residential Mortgage Backed Securities Product
Structured Credit
Recurring Revenue
Commercial Mortgage Backed Securities Product
DS Banking Product And Service
KYC
| Segment | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue ($M) | ||||||||||
| Relationship Revenue | 1,849
51% |
2,085
50%+13% |
2,481
56%+19% |
2,727
56%+10% |
2,997
56%+10% |
— | — | — | — | — |
| Transaction Revenue | 1,755
49% |
2,119
50%+21% |
1,962
44%-7% |
2,102
44%+7% |
2,379
44%+13% |
2,810
45%+18% |
1,682
31%-40% |
1,837
31%+9% |
2,687
38%+46% |
2,878
37%+7% |
| Assets Backed Securities | — | 97
2% |
107
2%+10% |
99
2%-7% |
98
2%-1% |
118
2%+20% |
116
2%-2% |
121
2%+4% |
130
2%+7% |
142
2%+9% |
| Bank Loans | — | 351
8% |
379
9%+8% |
313
6%-17% |
287
5%-8% |
606
10%+111% |
275
5%-55% |
292
5%+6% |
527
7%+80% |
503
7%-5% |
| Banking | — | 300
7% |
290
7%-3% |
320
7%+10% |
355
7%+11% |
411
7%+16% |
481
9%+17% |
521
9%+8% |
551
8%+6% |
569
7%+3% |
| Commercial Real Estate Finance | — | 87
2% |
78
2%-10% |
81
2%+4% |
61
1%-25% |
102
2%+67% |
— | — | — | — |
| High Yield | — | 254
6% |
175
4%-31% |
258
5%+47% |
352
7%+36% |
411
7%+17% |
108
2%-74% |
150
3%+39% |
285
4%+90% |
324
4%+14% |
| Insurance | — | 102
2% |
114
3%+12% |
119
2%+4% |
137
3%+15% |
245
4%+79% |
504
9%+106% |
550
9%+9% |
598
8%+9% |
685
9%+15% |
| Investment Grade | — | 335
8% |
271
6%-19% |
379
8%+40% |
636
12%+68% |
439
7%-31% |
294
5%-33% |
335
6%+14% |
488
7%+46% |
573
7%+17% |
| Managed Investments | — | 22
1% |
25
1%+14% |
25
1%+0% |
28
1%+12% |
36
1%+29% |
28
1%-22% |
32
1%+14% |
49
1%+53% |
59
1%+20% |
| Other Product Lines | — | 508
12% |
554
12%+9% |
547
11%-1% |
582
11%+6% |
631
10%+8% |
592
11%-6% |
627
11%+6% |
650
9%+4% |
732
9%+13% |
| Project And Infrastructure | — | 213
5% |
206
5%-3% |
224
5%+9% |
246
5%+10% |
277
4%+13% |
234
4%-16% |
271
5%+16% |
324
5%+20% |
360
5%+11% |
| Public Finance Sovereign | — | 218
5% |
185
4%-15% |
222
5%+20% |
250
5%+13% |
244
4%-2% |
197
4%-19% |
205
3%+4% |
240
3%+17% |
275
4%+15% |
| Residential Mortgage Backed Securities Product | — | 89
2% |
98
2%+10% |
95
2%-3% |
96
2%+1% |
123
2%+28% |
106
2%-14% |
92
2%-13% |
98
1%+7% |
111
1%+13% |
| Structured Credit | — | 165
4% |
196
4%+19% |
148
3%-24% |
105
2%-29% |
215
3%+105% |
140
3%-35% |
129
2%-8% |
193
3%+50% |
202
3%+5% |
| Recurring Revenue | — | — | — | 2,727
56% |
2,992
56%+10% |
3,408
55%+14% |
3,786
69%+11% |
4,079
69%+8% |
4,401
62%+8% |
4,840
63%+10% |
| Commercial Mortgage Backed Securities Product | — | — | — | — | 61
1% |
102
2%+67% |
98
2%-4% |
60
1%-39% |
94
1%+57% |
99
1%+5% |
| DS Banking Product And Service | — | — | — | — | — | 474
8% |
481
9%+1% |
521
9%+8% |
— | — |
| KYC | — | — | — | — | — | 217
3% |
260
5%+20% |
312
5%+20% |
367
5%+18% |
438
6%+19% |
| Total (check) | 3,604 | 6,945 | 7,121 | 10,386 | 11,662 | 10,869 | 9,382 | 10,134 | 11,682 | 12,790 |
| Operating Margin % | ||||||||||
| Relationship Revenue | — | — | — | — | — | — | — | — | — | — |
| Transaction Revenue | — | — | — | — | — | — | — | — | — | — |
| Assets Backed Securities | — | — | — | — | — | — | — | — | — | — |
| Bank Loans | — | — | — | — | — | — | — | — | — | — |
| Banking | — | — | — | — | — | — | — | — | — | — |
| Commercial Real Estate Finance | — | — | — | — | — | — | — | — | — | — |
| High Yield | — | — | — | — | — | — | — | — | — | — |
| Insurance | — | — | — | — | — | — | — | — | — | — |
| Investment Grade | — | — | — | — | — | — | — | — | — | — |
| Managed Investments | — | — | — | — | — | — | — | — | — | — |
| Other Product Lines | — | — | — | — | — | — | — | — | — | — |
| Project And Infrastructure | — | — | — | — | — | — | — | — | — | — |
| Public Finance Sovereign | — | — | — | — | — | — | — | — | — | — |
| Residential Mortgage Backed Securities Product | — | — | — | — | — | — | — | — | — | — |
| Structured Credit | — | — | — | — | — | — | — | — | — | — |
| Recurring Revenue | — | — | — | — | — | — | — | — | — | — |
| Commercial Mortgage Backed Securities Product | — | — | — | — | — | — | — | — | — | — |
| DS Banking Product And Service | — | — | — | — | — | — | — | — | — | — |
| KYC | — | — | — | — | — | — | — | — | — | — |
Source: SEC EDGAR XBRL instance documents (MCO 10-K filings).
Revenue and operating income per segment as tagged by the company under
us-gaap:StatementBusinessSegmentsAxis.