Along with S&P Ratings, Moody’s is a market leader in providing credit ratings on fixed-income securities. Given the embedded nature of credit ratings among capital markets participants, regulators, and index providers, Moody’s enjoys a strong competitive position and strong operating margin.
Even if issuance turns south, strong pricing power and GDP growth should cause a rebound in ratings revenue.
Higher interest rates, corporate deleveraging, and higher spreads could cause a decline in bond issuance that will weigh on ratings revenue.
|
Metric
|
MCO
|
SPGI
|
MSCI
|
|---|---|---|---|
Price/Earnings (Normalized) | 38.48 | 32.28 | 34.69 |
Price/Book Value | 20.22 | 3.94 | — |
Price/Sales | 11.68 | 10.68 | 14.68 |
Price/Cash Flow | 29.94 | 29.82 | 30.35 |
|
Metric
|
MCO
|
SPGI
|
MSCI
|
|---|---|---|---|
Quick Ratio | 1.31 | 0.77 | 0.92 |
Current Ratio | 1.42 | 0.92 | 1.00 |
Interest Coverage | 7.24 | 13.08 | 8.26 |
|
Metric
|
MCO
|
SPGI
|
MSCI
|
|---|---|---|---|
Return on Assets (Normalized) | 12.90% | 6.57% | 21.55% |
Return on Equity (Normalized) | 58.63% | 11.31% | — |
Return on Invested Capital (Normalized) | 19.20% | 8.38% | 33.21% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
SPGI
| S&P Global Inc | Skxcmydlyj | Ngb | $135.3 Bil | |
ICE
| Intercontinental Exchange Inc | Ltrnqsvf | Flcf | $76.7 Bil | |
CME
| CME Group Inc Class A | Dsppsftzq | Zvj | $75.0 Bil | |
LDNXF
| London Stock Exchange Group PLC | — | Dmt | $61.0 Bil | |
LNSTY
| London Stock Exchange Group PLC ADR | — | Xnrd | $60.8 Bil | |
COIN
| Coinbase Global Inc Ordinary Shares - Class A | Xmqjfspz | Jkl | $51.7 Bil | |
MSCI
| MSCI Inc | Cydqsjdy | Dlq | $37.3 Bil | |
NDAQ
| Nasdaq Inc | Jqykrpg | Lwzyxdz | $34.5 Bil | |
FDS
| FactSet Research Systems Inc | Sdsbzzdp | Ysyfnb | $16.6 Bil |
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