KPIs & Operating Metrics(New)
Growth Metrics

Moodys (MCO) Operating Expenses (2009 - 2026)

Moodys (MCO) reported Operating Expenses of $1.2 billion for Q1 2026, up 7.33% year-over-year from $1.1 billion in Q1 2025, and up 3.4% on a QoQ basis from $1.1 billion in Q4 2025.

Moodys (MCO) has 18 years of Operating Expenses data on file, last reported at $1.2 billion in Q1 2026.

  • Quarterly Operating Expenses rose 7.33% year-over-year to $1.2 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $4.4 billion (up 3.25% YoY) and the FY2025 annual result came in at $4.4 billion, up 3.66% from the prior year.
  • Operating Expenses improved to $1.2 billion in Q1 2026 per MCO's latest filing, from $1.1 billion in the prior quarter.
  • Across five years, Operating Expenses topped out at $1.2 billion in Q1 2026 and bottomed at $862.0 million in Q3 2022.
  • The 5-year median for Operating Expenses is $985.0 million (2024), against an average of $1.0 billion.
  • Peak annual rise in Operating Expenses reached 16.09% in 2022, while the deepest fall reached 4.0% in 2022.
  • Tracing MCO's Operating Expenses over 5 years: stood at $984.0 million in 2022, then dropped by 0.2% to $982.0 million in 2023, then advanced by 13.14% to $1.1 billion in 2024, then climbed by 0.72% to $1.1 billion in 2025, then gained by 3.4% to $1.2 billion in 2026.
  • Per Business Quant, the three latest MCO Operating Expenses figures stand at $1.2 billion (Q1 2026), $1.1 billion (Q4 2025), and $1.1 billion (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 S&P Global 126.06 Bn 129.16 Bn 2.94 Bn 2.34 Bn
2 Cme 98.29 Bn 98.29 Bn 1.83 Bn 570.40 Mn
3 Intercontinental Exchange 83.83 Bn 82.37 Bn - 1.31 Bn
4 Moodys 80.13 Bn 78.77 Bn 1.55 Bn 1.16 Bn
5 Nasdaq 52.44 Bn 51.76 Bn 1.41 Bn 750.00 Mn
6 Coinbase Global 50.05 Bn 49.52 Bn 1.33 Bn 1.43 Bn
7 Msci 46.28 Bn 45.89 Bn 765.10 Mn 393.90 Mn
8 Cboe Global Markets 34.92 Bn 32.75 Bn 728.90 Mn 223.30 Mn
9 TransUnion 13.79 Bn 13.22 Bn 726.20 Mn 1.00 Bn
10 Factset Research Systems 9.06 Bn 8.78 Bn 314.28 Mn 426.06 Mn

Historic Data

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DateValue
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
Jun 30, 2021 752.00 Mn
Mar 31, 2021 747.00 Mn
Dec 31, 2020 846.00 Mn
Sep 30, 2020 714.00 Mn
Jun 30, 2020 725.00 Mn
Mar 31, 2020 698.00 Mn
Dec 31, 2019 729.00 Mn
Sep 30, 2019 691.00 Mn
Jun 30, 2019 731.00 Mn
Mar 31, 2019 680.00 Mn
Dec 31, 2018 684.00 Mn
Sep 30, 2018 614.00 Mn
Jun 30, 2018 641.10 Mn
Mar 31, 2018 635.90 Mn
Dec 31, 2017 699.70 Mn
Sep 30, 2017 614.40 Mn
Jun 30, 2017 540.40 Mn
Mar 31, 2017 528.50 Mn
Dec 31, 2016 1.40 Bn
Sep 30, 2016 519.60 Mn
Jun 30, 2016 518.70 Mn
Mar 31, 2016 512.00 Mn
Dec 31, 2015 532.80 Mn
Sep 30, 2015 485.20 Mn
Jun 30, 2015 498.80 Mn
Mar 31, 2015 494.30 Mn
Dec 31, 2014 532.80 Mn
Sep 30, 2014 466.40 Mn
Jun 30, 2014 461.80 Mn
Mar 31, 2014 434.20 Mn
Dec 31, 2013 467.30 Mn
Sep 30, 2013 414.00 Mn
Jun 30, 2013 405.20 Mn
Mar 31, 2013 451.40 Mn
Dec 31, 2012 494.00 Mn
Sep 30, 2012 418.80 Mn
Jun 30, 2012 362.30 Mn
Mar 31, 2012 377.80 Mn
Dec 31, 2011 395.00 Mn
Sep 30, 2011 335.20 Mn
Jun 30, 2011 335.10 Mn
Mar 31, 2011 327.00 Mn
Dec 31, 2010 367.70 Mn
Sep 30, 2010 324.40 Mn
Jun 30, 2010 287.30 Mn
Mar 31, 2010 279.80 Mn
Dec 31, 2009 306.90 Mn
Sep 30, 2009 279.30 Mn
Jun 30, 2009 263.50 Mn
Mar 31, 2009 260.00 Mn