MOODY'S CORPORATION FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$7.7B
Gross margin	74.4%
Operating income	$3.4B
Net income	$2.5B
Diluted EPS	$13.67
Cash & equivalents	$2.4B
Total assets	$15.8B
Long-term debt	$7.0B

Key takeaway

Total revenue grew 9% to $7.72 billion, with both MA (up 9% to $3.6 billion external revenue) and MIS (up 9% to $4.12 billion) contributing.

🔒 4 more takeaways in the full analysis

Beneath the surface

The $79 million release of an indemnification asset and related tax-interest accruals from a lapsed statute of limitations exactly offset the tax benefit that lowered the ETR to 21.3%, meaning this item had no net effect on EPS despite appearing in both revenue and expense lines.

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