Moody's Corporation · MCO · FY2025 Q2 · Calendar Q3 2025

Moody's Maintains Guidance as Private Credit and Analytics Lead Growth

The supplied analysis supports a constructive but qualified view: private credit, Moody's Analytics, and AI-enabled products are strengthening growth, while issuance volatility, attrition, regulatory scrutiny, and execution risks temper the case for durable earnings expansion.

Reported Before market openNYSEFinancial Services $77.88B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.56 Consensus $3.39
EPS surprise +5.0% Reported versus consensus
Reported revenue $1.90B Consensus $1.85B
Revenue surprise +2.6% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +1.8% Event window
SPY move +0.9% Same window
Abnormal move +0.9% Stock minus SPY
Volume 1.6× Versus trailing sessions
Subsequent drift +1.4% Up to 20 sessions
MCOSPY benchmark

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Transcript intelligence

What changed

Compared with the prior quarter, management's tone shifted from cautious to confident and guidance moved from lowered to maintained. Private-credit revenue growth, Analytics margin expansion, and additional partnerships and acquisitions strengthened the growth narrative, while KYC and insurance attrition became clearer risks.

Guidance delta

Guidance was maintained, improving from the prior quarter's lowered and widened outlook. Management projected low-to-mid single-digit MIS revenue growth and approximately 10% EPS growth at the midpoint.

Key takeaways

  • Management described private credit as a major growth driver, with revenue up 75% year over year and 25% of first-time mandates.
  • Moody's Analytics revenue grew 11% and ARR grew 8%, while its adjusted operating margin expanded to 32.1%.
  • Full-year guidance was reaffirmed, including low-to-mid single-digit MIS revenue growth and approximately 10% EPS growth at the midpoint.
  • Management highlighted GenAI rollout, strategic partnerships, and acquisitions as product and market-expansion priorities.

Management priorities

  • Continue rolling out GenAI capabilities, targeting 40% of products by year-end.
  • Launch the SAP Business Data Cloud dashboard in Q4 and expand data integrations.
  • Integrate Numerated AI into CreditLens and broaden lending-solution adoption.
  • Accelerate CAPE Analytics integration into the Intelligent Risk Platform.
  • Expand Moody's Local presence in Latin America following the ICR Chile acquisition.

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Earnings History

Estimate Beat Miss Match
MCO EPS earnings history estimate and actual scatter chart 9 reported fiscal quarters and 4 future estimate-only quarters. Q1 '24 estimate $3.04 Q1 '24 actual $3.37, beat Q2 '24 estimate $3.02 Q2 '24 actual $3.28, beat Q3 '24 estimate $2.86 Q3 '24 actual $3.21, beat Q2 '25 estimate $3.39 Q2 '25 actual $3.56, beat Q3 '25 estimate $3.70 Q3 '25 actual $3.92, beat Q4 '25 estimate $3.43 Q4 '25 actual $3.64, beat Q1 '26 estimate $4.22 Q1 '26 actual $4.33, beat Q2 '26 estimate $4.26 Q2 '26 actual $4.68, beat Q3 '26 estimate $4.24 Q4 '26 estimate $3.65 Q1 '27 estimate $4.76 Q2 '27 estimate $5.12
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Analyst Consensus ?

ConsensusBuy32 ratings
Bullish1856.3%
Neutral1340.6%
Bearish13.1%

Analyst 52W Price Targets

$463.72Current
$321Low
$499.43Average
$620High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 9, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
Morgan Stanley Equal Weight Equal WeightMaintainOct 7, 2026
Mizuho Neutral NeutralMaintainJul 27, 2026
Wells Fargo Overweight OverweightMaintainJul 23, 2026
Baird Outperform OutperformMaintainJul 23, 2026
JP Morgan Overweight OverweightMaintainJul 20, 2026
Barclays Overweight OverweightMaintainJul 10, 2026
BMO Capital Market Perform Market PerformMaintainJul 7, 2026
UBS Neutral NeutralMaintainFeb 19, 2026
Stifel Buy BuyMaintainFeb 19, 2026
Evercore ISI Group Outperform OutperformMaintainFeb 19, 2026
Goldman Sachs Buy BuyMaintainFeb 9, 2026
Daiwa Capital Outperform NeutralUpgradeJan 13, 2026
Raymond James Market Perform UnderperformUpgradeOct 17, 2025
RBC Capital Outperform OutperformMaintainOct 9, 2025
Deutsche Bank Buy HoldUpgradeOct 1, 2025
Oppenheimer Outperform OutperformMaintainJul 24, 2025
B of A Securities Buy BuyMaintainJul 16, 2024
Credit Suisse Outperform OutperformMaintainApr 26, 2023
Argus Research Buy BuyMaintainNov 2, 2022
Atlantic Equities Neutral OverweightDowngradeJun 8, 2022
Stifel Nicolaus Hold HoldMaintainFeb 13, 2020
Cantor Fitzgerald Neutral NeutralMaintainFeb 13, 2020
PiperJaffray Neutral NeutralMaintainApr 5, 2019
Piper Sandler Neutral NeutralMaintainApr 5, 2019
Nomura Buy BuyMaintainJul 9, 2018
Argus Buy BuyMaintainMay 5, 2018
FBR Capital Market Perform Market PerformMaintainFeb 8, 2016
Janney Capital Neutral NeutralMaintainMar 28, 2014
Benchmark Hold HoldMaintainOct 28, 2013
Lazard Buy BuyMaintainSep 25, 2013
William Blair Outperform OutperformMaintainSep 9, 2013
BTIG Research Sell SellMaintainJul 11, 2012
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Named analyst price targets

Upside is calculated against the persisted current price $463.72. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Morgan StanleyToni Kaplan$470$452.32 +1.4%Oct 7, 2026
Mizuho SecuritiesSean Kennedy$530$488.89 +14.3%Jul 27, 2026
UBSAlex Kramm$505$473.95 +8.9%Jul 23, 2026
Robert W. BairdAnalyst unavailable$572$477.81 +23.4%Jul 23, 2026
Wells FargoAnalyst unavailable$597$489.79 +28.7%Jul 23, 2026
Morgan StanleyAnalyst unavailable$512$489.79 +10.4%Jul 22, 2026
BarclaysAnalyst unavailable$575$487.02 +24.0%Jul 10, 2026
Morgan StanleyAnalyst unavailable$496$502.26 +7.0%Jul 7, 2026
BMO CapitalAnalyst unavailable$515$498.78 +11.1%Jul 7, 2026
Redburn PartnersCharles Bendit$500$456.22 +7.8%Jun 18, 2026
Mizuho SecuritiesAnalyst unavailable$521$460.74 +12.4%Apr 28, 2026
Wolfe ResearchScott Wurtzel$535$451.74 +15.4%Apr 23, 2026
BMO CapitalAnalyst unavailable$489$454.18 +5.5%Apr 23, 2026
Wells FargoAnalyst unavailable$590$466.88 +27.2%Apr 23, 2026
National BankAnalyst unavailable$565$466.88 +21.8%Apr 22, 2026
Mizuho SecuritiesAnalyst unavailable$524$437.11 +13.0%Feb 24, 2026
BarclaysAnalyst unavailable$550$447.82 +18.6%Feb 23, 2026
UBSAnalyst unavailable$490$442.78 +5.7%Feb 19, 2026
Evercore ISIDavid Motemaden$610$448.74 +31.5%Feb 19, 2026
BMO CapitalAnalyst unavailable$480$450.76 +3.5%Feb 19, 2026
Stifel NicolausAnalyst unavailable$540$450.76 +16.4%Feb 19, 2026
Goldman SachsAnalyst unavailable$531$450.76 +14.5%Feb 18, 2026
Goldman SachsAnalyst unavailable$532$452.49 +14.7%Feb 9, 2026
Morgan StanleyToni Kaplan$526$535.12 +13.4%Jan 13, 2026
DaiwaKazuya Nishimura$590$535.12 +27.2%Jan 13, 2026
Evercore ISIAnalyst unavailable$620$533.78 +33.7%Jan 8, 2026
Stifel NicolausShlomo Rosenbaum$574$498.98 +23.8%Jan 5, 2026
Goldman SachsAnalyst unavailable$570$487.37 +22.9%Dec 16, 2025
Mizuho SecuritiesSean Kennedy$550$494.44 +18.6%Oct 28, 2025
BMO CapitalAnalyst unavailable$507$471.75 +9.3%Oct 23, 2025
Stifel NicolausAnalyst unavailable$471$472.79 +1.6%Oct 23, 2025
Wells FargoJason Haas$620$472.79 +33.7%Oct 23, 2025
BMO CapitalJeffrey Silber$521$478.51 +12.4%Oct 16, 2025
Mizuho SecuritiesSean Kennedy$539$478.51 +16.2%Oct 16, 2025
Morgan StanleyAnalyst unavailable$520$490.09 +12.1%Oct 9, 2025
Seaport GlobalAnalyst unavailable$528$476.48 +13.9%Oct 1, 2025
Deutsche BankFaiza Alwy$528$476.48 +13.9%Oct 1, 2025
BMO CapitalJeffrey Silber$456$430.77 -1.7%Apr 23, 2025
BarclaysAnalyst unavailable$520$402.43 +12.1%Apr 4, 2025
OppenheimerOwen Lau$545$476.27 +17.5%Jan 3, 2025
OppenheimerOwen Lau$543$467.73 +17.1%Oct 23, 2024
Robert W. BairdJeffrey Meuler$512$467.73 +10.4%Oct 23, 2024
BMO CapitalJeffrey Silber$464$479.44 +0.1%Oct 15, 2024
OppenheimerOwen Lau$536$470.19 +15.6%Oct 3, 2024
Evercore ISIDavid Motemeden$521$471.4 +12.4%Oct 1, 2024
UBSAlex Kramm$470$451.89 +1.4%Jul 24, 2024
Robert W. BairdJeffrey Meuler$490$451.89 +5.7%Jul 24, 2024
UBSAlex Kramm$455$435.58 -1.9%Jul 9, 2024
OppenheimerOwen Lau$454$420.93 -2.1%Jul 1, 2024
RBC CapitalAshish Sabadra$450$412.02 -3.0%May 16, 2024
Stifel NicolausShlomo Rosenbaum$374$387.7 -19.3%May 7, 2024
OppenheimerOwen Lau$424$393.89 -8.6%Apr 2, 2024
BarclaysManav Patnaik$450$393.89 -3.0%Apr 2, 2024
Goldman SachsGeorge Tong$412$393.03 -11.2%Apr 1, 2024
OppenheimerOwen Lau$362$341.49 -21.9%Jul 7, 2023
OppenheimerAnalyst unavailable$342$319.98 -26.2%Feb 1, 2023
BarclaysAnalyst unavailable$300$322.75 -35.3%Feb 1, 2023
Morgan StanleyAnalyst unavailable$293$284.96 -36.8%Jan 4, 2023
Morgan StanleyAnalyst unavailable$294$293.16 -36.6%Dec 6, 2022
BarclaysAnalyst unavailable$275$306.08 -40.7%Dec 2, 2022
Goldman SachsAnalyst unavailable$295$297.54 -36.4%Nov 23, 2022
OppenheimerAnalyst unavailable$310$294.36 -33.1%Nov 23, 2022
Morgan StanleyAnalyst unavailable$271$289.37 -41.6%Nov 17, 2022
Morgan StanleyAnalyst unavailable$281$250.3 -39.4%Oct 3, 2022
Goldman SachsAnalyst unavailable$263$245 -43.3%Oct 3, 2022
Morgan StanleyAnalyst unavailable$288$251.4 -37.9%Sep 27, 2022
OppenheimerAnalyst unavailable$348$313.94 -25.0%Aug 19, 2022
BMO CapitalAnalyst unavailable$352$324.6 -24.1%Aug 15, 2022
Morgan StanleyAnalyst unavailable$283$286.17 -39.0%Jul 27, 2022
Raymond JamesAnalyst unavailable$321$286.57 -30.8%Jul 27, 2022
Raymond JamesAnalyst unavailable$327$280.95 -29.5%Jul 12, 2022
Morgan StanleyAnalyst unavailable$298$282.99 -35.7%Jul 7, 2022
RBC CapitalAnalyst unavailable$329$284.53 -29.1%Jun 7, 2022
UBSAnalyst unavailable$288$285.28 -37.9%Jun 6, 2022
Deutsche BankAnalyst unavailable$324$289.49 -30.1%Jun 2, 2022
BMO CapitalAnalyst unavailable$309$281.11 -33.4%Jun 2, 2022
Morgan StanleyAnalyst unavailable$305$282.38 -34.2%Jun 2, 2022
Deutsche BankAnalyst unavailable$372$304.6 -19.8%May 3, 2022
Morgan StanleyAnalyst unavailable$318$302.09 -31.4%May 3, 2022
BarclaysAnalyst unavailable$350$301.13 -24.5%May 3, 2022
Credit SuisseAnalyst unavailable$350$303.06 -24.5%May 3, 2022
RBC CapitalAnalyst unavailable$344$301.13 -25.8%May 3, 2022
Raymond JamesAnalyst unavailable$364$301.13 -21.5%May 3, 2022
Morgan StanleyToni Kaplan$318$309.42 -31.4%May 3, 2022
Robert W. BairdJeffrey Meuler$342$301.13 -26.2%May 2, 2022
BMO CapitalJeffrey Silber$375$322.42 -19.1%Apr 23, 2022
Deutsche BankFaiza Alwy$408$340.33 -12.0%Apr 3, 2022
BMO CapitalJeffrey Silber$365$304.47 -21.3%Mar 12, 2022
Robert W. BairdJeffrey Meuler$363$314 -21.7%Mar 10, 2022
RBC CapitalAshish Sabadra$403$314 -13.1%Mar 10, 2022
Stifel NicolausShlomo Rosenbaum$385$325.84 -17.0%Mar 4, 2022
BMO CapitalJeffrey Silber$402$323.58 -13.3%Feb 21, 2022
Goldman SachsGeorge Tong$396$376.52 -14.6%Jul 28, 2021
Argus ResearchJohn Eade$375$326.25 -19.1%May 5, 2021
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Company context

Snapshot as of publication

Moody's Corporation operates as a global leader in risk assessment, divided into two main segments: Moody's Investors Service and Moody's Analytics. Moody's Investors Service is dedicated to issuing credit ratings and providing detailed assessments for a diverse range of debt obligations and the entities that issue them. This encompasses corporate, financial institution, governmental, and structured finance securities across approximately 140 nations. These ratings are made publicly available through press releases, digital media, and real-time financial information systems.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
  3. Polygon adjusted daily market bars · 2026-10-09T18:00:44.309074+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-09T18:00:44.306314+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-09. For educational purposes only; not investment advice.