TTM
44.2%
YoY change
+2.85pp
Trough year (1998)
23.2%
Peak year (2004)
54.7%
Latest annual
44.8%
Operating Margin history chart for Moody's (MCO) from 1998 to 2025
Latest: 44.8%
Operating Margin change chart for Moody's (MCO) from 1998 to 2025
Latest: +2.85pp
Operating Margin history table for Moody's (MCO) from 1998 to 2025
| 2025 | 44.8% | +2.85pp | ||
| 2024 | 41.9% | +4.37pp | ||
| 2023 | 37.5% | +1.02pp | ||
| 2022 | 36.5% | -9.22pp | ||
| 2021 | 45.7% | +0.18pp | ||
| 2020 | 45.6% | +2.59pp | ||
| 2019 | 43.0% | -0.36pp | ||
| 2018 | 43.3% | -0.51pp | ||
| 2017 | 43.8% | +1.82pp | ||
| 2016 | 42.0% | -0.26pp | ||
| 2015 | 42.3% | -1.04pp | ||
| 2014 | 43.3% | +1.52pp | ||
| 2013 | 41.8% | +1.89pp | ||
| 2012 | 39.9% | +0.94pp | ||
| 2011 | 39.0% | +0.89pp | ||
| 2010 | 38.1% | -1.04pp | ||
| 2009 | 39.1% | -3.36pp | ||
| 2008 | 42.5% | -9.80pp | ||
| 2007 | 52.3% | -1.66pp | ||
| 2006 | 53.9% | -0.32pp | ||
| 2005 | 54.3% | -0.41pp | ||
| 2004 | 54.7% | +1.48pp | ||
| 2003 | 53.2% | +0.61pp | ||
| 2002 | 52.6% | +2.57pp | ||
| 2001 | 50.0% | +2.12pp | ||
| 2000 | 47.9% | +23.55pp | ||
| 1999 | 24.3% | +1.15pp | ||
| 1998 | 23.2% | — |
- 202544.8%+2.85pp
- 202441.9%+4.37pp
- 202337.5%+1.02pp
- 202236.5%-9.22pp
- 202145.7%+0.18pp
- 202045.6%+2.59pp
- 201943.0%-0.36pp
- 201843.3%-0.51pp
- 201743.8%+1.82pp
- 201642.0%-0.26pp
- 201542.3%-1.04pp
- 201443.3%+1.52pp
- 201341.8%+1.89pp
- 201239.9%+0.94pp
- 201139.0%+0.89pp
- 201038.1%-1.04pp
- 200939.1%-3.36pp
- 200842.5%-9.80pp
- 200752.3%-1.66pp
- 200653.9%-0.32pp
- 200554.3%-0.41pp
- 200454.7%+1.48pp
- 200353.2%+0.61pp
- 200252.6%+2.57pp
- 200150.0%+2.12pp
- 200047.9%+23.55pp
- 199924.3%+1.15pp
- 199823.2%—
Operating Margin values are taken from Moody's's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Operating Margin at Moody's (MCO)
According to Moody's's latest reported financial statements, the company's latest reported operating margin is 44.2%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
As of the 2025 fiscal year, Moody's (MCO) reported operating margin of 44.77% – expanded 2.8 percentage points year-over-year.
The highest annual operating margin of 54.68% was reported in 2004. The lowest in the available history was 23.19% in 1998.
Moody's Operating Margin by Year
Moody's Operating Margin 2025: 44.8%
In 2025, Moody's reported operating margin of 44.77%, expanded 2.8 percentage points from 2024.
Moody's Operating Margin 2024: 41.9%
Moody's operating margin in 2024 was 41.92%, expanded 4.4 percentage points from 2023.
Moody's Operating Margin 2023: 37.5%
2023's operating margin for Moody's came in at 37.54%, expanded 1.0 percentage points from 2022.
Moody's Operating Margin 2022: 36.5%
Moody's posted operating margin of 36.52% in 2022, contracted 9.2 percentage points from 2021.
Moody's Operating Margin 2021: 45.7%
Moody's operating margin in 2021 was 45.74%.
See more financial history for Moody's (MCO).
Sector peers by Operating Margin
Financial Services peers of Moody's (MCO), ranked by their latest operating margin
| 61.1% | |
| 59.4% | |
| 26.2% | |
| 22.9% | |
| 20.5% | |
| 20.5% | |
| 19.5% | |
| 16.1% |
- 61.1%
- 59.4%
- 26.2%
- 20.5%
- 20.5%
- 19.5%
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