Moodys (MCO) Operating Expenses (2009 - 2026)
Moodys' (MCO) quarterly Operating Expenses came in at $1.1 billion in Q2 2026, up 5.46% year-over-year from $1.1 billion in Q2 2025, and down 1.56% quarter-over-quarter from $1.2 billion in Q1 2026.
Analysis
Moodys (MCO) Operating Expenses (2009 - 2026) Analysis & Trends
Moodys (MCO) has reported Operating Expenses for 18 consecutive years, with $1.1 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses rose 5.46% year-over-year to $1.1 billion in Q2 2026; TTM through Jun 2026 was $4.5 billion, a 3.71% increase from a year earlier, with the FY2025 full-year figure at $4.4 billion, up 3.66% from the prior year.
- Operating Expenses was $1.1 billion for Q2 2026 at Moodys, down from $1.2 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $1.2 billion in Q1 2026 and troughed at $862.0 million in Q3 2022.
- A 5-year average of $1.0 billion and a median of $1.0 billion in 2024 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 16.09% in 2022, down 4.0% in 2022.
- Over 5 years, Operating Expenses stood at $984.0 million in 2022, then declined by 0.2% to $982.0 million in 2023, then climbed by 13.14% to $1.1 billion in 2024, then grew by 0.72% to $1.1 billion in 2025, then gained by 1.79% to $1.1 billion in 2026.
- The last three Operating Expenses figures came in at $1.1 billion (Q2 2026), $1.2 billion (Q1 2026), and $1.1 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 121.34 Bn | 117.20 Bn | 2.98 Bn | 2.35 Bn |
| 2 | Moodys | 81.34 Bn | 79.84 Bn | 1.67 Bn | 1.14 Bn |
| 3 | Msci | 39.85 Bn | 39.49 Bn | 717.10 Mn | 379.50 Mn |
| 4 | Verisk Analytics | 22.97 Bn | 22.42 Bn | 572.90 Mn | 442.60 Mn |
| 5 | Factset Research Systems | 9.48 Bn | 9.17 Bn | 310.73 Mn | 456.62 Mn |
| 6 | Morningstar | 7.30 Bn | 6.77 Bn | 423.90 Mn | 509.40 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.14 Bn |
| Mar 31, 2026 | 1.16 Bn |
| Dec 31, 2025 | 1.12 Bn |
| Sep 30, 2025 | 1.09 Bn |
| Jun 30, 2025 | 1.08 Bn |
| Mar 31, 2025 | 1.08 Bn |
| Dec 31, 2024 | 1.11 Bn |
| Sep 30, 2024 | 1.08 Bn |
| Jun 30, 2024 | 1.04 Bn |
| Mar 31, 2024 | 985.00 Mn |
| Dec 31, 2023 | 982.00 Mn |
| Sep 30, 2023 | 937.00 Mn |
| Jun 30, 2023 | 944.00 Mn |
| Mar 31, 2023 | 916.00 Mn |
| Dec 31, 2022 | 984.00 Mn |
| Sep 30, 2022 | 862.00 Mn |
| Jun 30, 2022 | 873.00 Mn |
| Mar 31, 2022 | 866.00 Mn |
| Dec 31, 2021 | 1.03 Bn |
| Sep 30, 2021 | 850.00 Mn |