Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Deal fees fell, yet revenue still grew
Recurring fees, now 64.3% of revenue, grew enough to absorb an 8.3% fall in deal-driven revenue.
For investorsWhat ratings revenue depends on after leveraged finance slowed
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Net income attributable to Moody's rose 13.6% as operating income fell 1.2%, helped by a divestiture gain and a lower tax rate.
Direct operating costs grew 6.5% against revenue growth of 0.8%, so the margin narrowed even as the revenue mix improved.
Capital spending took 4.2% of revenue, leaving free cash flow of about a third of sales for buybacks and dividends.
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Business Lens describes Moody's Corporation from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
