Moodys Corp

MCO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$848.00	Ptvty	Zlcswvshp

Moody’s Earnings: Ratings Segment Outshines and Guidance Raised but Growth Likely to Slow

Rajiv Bhatia

Jul 23, 2024

Wide-moat Moody's reported a strong quarter, with the ratings segment driving outsize profit growth. Moody's revenue grew 22%, with 36% growth in ratings and 8% constant currency growth in the more stable Analytics segment. Ratings growth was broad-based across different categories. As we tweak our model, we are increasing our fair value estimate by 5% to $385 to account for better near-term revenue expectations in ratings and time value of money.

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