Moodys annual operating margin
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2024
2025
Moodys Operating Margin Growth & History (MCO)
Moodys's operating margin was 43.42% for fiscal 2025.
View full Moodys company overviewMoodys annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 43.42% | +2.86 pp |
| 2024 | 2024-12-31 | 40.56% | +4.44 pp |
| 2023 | 2023-12-31 | 36.12% | +1.69 pp |
| 2022 | 2022-12-31 | 34.44% | −11.30 pp |
| 2021 | 2021-12-31 | 45.74% | +1.28 pp |
| 2020 | 2020-12-31 | 44.46% | +3.09 pp |
| 2019 | 2019-12-31 | 41.38% | −0.67 pp |
| 2018 | 2018-12-31 | 42.04% | −1.27 pp |
| 2017 | 2017-12-31 | 43.32% | +25.26 pp |
| 2016 | 2016-12-31 | 18.06% | −24.22 pp |
| 2015 | 2015-12-31 | 42.28% | −0.88 pp |
| 2014 | 2014-12-31 | 43.16% | +1.63 pp |
| 2013 | 2013-12-31 | 41.53% | +2.07 pp |
| 2012 | 2012-12-31 | 39.46% | +0.51 pp |
| 2011 | 2011-12-31 | 38.95% | +0.92 pp |
| 2010 | 2010-12-31 | 38.03% | −0.22 pp |
| 2009 | 2009-12-31 | 38.25% | −4.37 pp |
| 2008 | 2008-12-31 | 42.62% | −7.44 pp |
| 2007 | 2007-12-31 | 50.07% | — |
Moodys quarterly operating margin
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Q2.25
Q3.25
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Q1.26
Q2.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 47.87% | +4.77 pp |
| Q1 2026 | 2026-03-31 | 44.35% | +0.38 pp |
| Q4 2025 | 2025-12-31 | 40.76% | +7.21 pp |
| Q3 2025 | 2025-09-30 | 45.69% | +4.98 pp |
| Q2 2025 | 2025-06-30 | 43.10% | +0.45 pp |
| Q1 2025 | 2025-03-31 | 43.97% | −0.88 pp |
| Q4 2024 | 2024-12-31 | 33.55% | −0.10 pp |
| Q3 2024 | 2024-09-30 | 40.71% | +4.36 pp |
| Q2 2024 | 2024-06-30 | 42.65% | +5.84 pp |
| Q1 2024 | 2024-03-31 | 44.85% | +7.16 pp |
| Q4 2023 | 2023-12-31 | 33.65% | +9.93 pp |
| Q3 2023 | 2023-09-30 | 36.35% | +3.95 pp |
| Q2 2023 | 2023-06-30 | 36.81% | +0.03 pp |
| Q1 2023 | 2023-03-31 | 37.69% | −5.41 pp |
| Q4 2022 | 2022-12-31 | 23.72% | −9.68 pp |
| Q3 2022 | 2022-09-30 | 32.39% | −11.91 pp |
| Q2 2022 | 2022-06-30 | 36.78% | −14.79 pp |
| Q1 2022 | 2022-03-31 | 43.10% | −10.21 pp |
| Q4 2021 | 2021-12-31 | 33.40% | −1.02 pp |
| Q3 2021 | 2021-09-30 | 44.30% | −3.05 pp |
| Q2 2021 | 2021-06-30 | 51.58% | +2.10 pp |
| Q1 2021 | 2021-03-31 | 53.31% | +7.42 pp |
| Q4 2020 | 2020-12-31 | 34.42% | −6.46 pp |
| Q3 2020 | 2020-09-30 | 47.35% | +3.07 pp |
| Q2 2020 | 2020-06-30 | 49.48% | +9.69 pp |
| Q1 2020 | 2020-03-31 | 45.89% | +5.44 pp |
| Q4 2019 | 2019-12-31 | 40.88% | +5.38 pp |
| Q3 2019 | 2019-09-30 | 44.27% | +1.08 pp |
| Q2 2019 | 2019-06-30 | 39.79% | −5.66 pp |
| Q1 2019 | 2019-03-31 | 40.46% | −3.11 pp |
| Q4 2018 | 2018-12-31 | 35.50% | −4.46 pp |
| Q3 2018 | 2018-09-30 | 43.19% | +0.99 pp |
| Q2 2018 | 2018-06-30 | 45.44% | −0.54 pp |
| Q1 2018 | 2018-03-31 | 43.56% | −2.25 pp |
| Q4 2017 | 2017-12-31 | 39.96% | +88.88 pp |
| Q3 2017 | 2017-09-30 | 42.20% | −1.15 pp |
| Q2 2017 | 2017-06-30 | 45.99% | +1.83 pp |
| Q1 2017 | 2017-03-31 | 45.81% | +8.54 pp |
| Q4 2016 | 2016-12-31 | −48.92% | −87.39 pp |
| Q3 2016 | 2016-09-30 | 43.34% | +1.46 pp |
| Q2 2016 | 2016-06-30 | 44.16% | −1.51 pp |
| Q1 2016 | 2016-03-31 | 37.26% | −5.63 pp |
| Q4 2015 | 2015-12-31 | 38.47% | −0.81 pp |
| Q3 2015 | 2015-09-30 | 41.89% | −0.96 pp |
| Q2 2015 | 2015-06-30 | 45.67% | −1.46 pp |
| Q1 2015 | 2015-03-31 | 42.90% | −0.51 pp |
| Q4 2014 | 2014-12-31 | 39.28% | −0.75 pp |
| Q3 2014 | 2014-09-30 | 42.85% | +1.53 pp |
| Q2 2014 | 2014-06-30 | 47.13% | +0.73 pp |
| Q1 2014 | 2014-03-31 | 43.40% | +5.09 pp |
| Q4 2013 | 2013-12-31 | 40.03% | +5.53 pp |
| Q3 2013 | 2013-09-30 | 41.32% | +2.15 pp |
| Q2 2013 | 2013-06-30 | 46.40% | +2.94 pp |
| Q1 2013 | 2013-03-31 | 38.32% | −3.27 pp |
| Q4 2012 | 2012-12-31 | 34.50% | +4.15 pp |
| Q3 2012 | 2012-09-30 | 39.17% | +2.26 pp |
| Q2 2012 | 2012-06-30 | 43.46% | −1.17 pp |
| Q1 2012 | 2012-03-31 | 41.59% | −1.75 pp |
| Q4 2011 | 2011-12-31 | 30.35% | −4.49 pp |
| Q3 2011 | 2011-09-30 | 36.91% | +0.11 pp |
| Q2 2011 | 2011-06-30 | 44.63% | +4.76 pp |
| Q1 2011 | 2011-03-31 | 43.34% | +2.04 pp |
| Q4 2010 | 2010-12-31 | 34.84% | −1.99 pp |
| Q3 2010 | 2010-09-30 | 36.80% | −1.38 pp |
| Q2 2010 | 2010-06-30 | 39.87% | −1.67 pp |
| Q1 2010 | 2010-03-31 | 41.29% | +4.88 pp |
| Q4 2009 | 2009-12-31 | 36.83% | −6.97 pp |
| Q3 2009 | 2009-09-30 | 38.18% | −9.75 pp |
| Q2 2009 | 2009-06-30 | 41.54% | — |
| Q1 2009 | 2009-03-31 | 36.41% | — |
| Q3 2008 | 2008-09-30 | 43.79% | — |
| Q2 2008 | 2008-06-30 | 47.93% | — |
Moodys operating margin trends
Over the last five reported fiscal years, Moodys's operating margin decreased from 44.46% to 43.42%, a change of −1.04 percentage points. The latest reported quarter, Q2 2026, shows 47.87%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Moodys filings at SEC.gov ↗