Moodys Corp

MCO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Moody’s Earnings: Operating Margin and Ratings Revenue Outlook Impress

Rajiv Bhatia

Feb 13, 2025

Wide-moat-rated Moody’s fourth-quarter results failed to live up to our model, which we updated after S&P Global reported, but the firm’s 2025 ratings revenue and margin outlooks were strong, in our view. In addition, Moody’s tweaked its medium-term outlook to include high ratings revenue growth. As we update our model, we expect to increase our $450 fair value estimate by a single-digit percentage as we increase our margin assumptions.

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Moodys Corp

Moody’s Earnings: Operating Margin and Ratings Revenue Outlook Impress

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