Moody's vs S&P Global
S&P Global reported revenue of $15.3 billion in fiscal 2025, 2.0 times Moody's $7.7 billion in fiscal 2025. Moody's revenue grew 8.9% in its latest year, and S&P Global's grew 7.9%. Moody's had an operating margin of 43.4%, against 42.2% at S&P Global. Free cash flow was $2.6 billion at Moody's and $5.5 billion at S&P Global.
Side by side
| Moody's | S&P Global | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $7.7B | $15.3B |
| Revenue growth | 8.9% | 7.9% |
| Revenue growth a year, last 5 years | 7.5% | 15.6% |
| Gross margin | 74.4% | 70.2% |
| Operating margin | 43.4% | 42.2% |
| Net margin | 31.9% | 29.1% |
| Free cash flow | $2.6B | $5.5B |
| Free cash flow margin | 33.4% | 35.6% |
| Return on capital | 31.1% | 11.7% |
| Net debt to EBITDA | 1.2x | 1.5x |
| Dividends and buybacks | $2.3B | $6.2B |
| Change in diluted share count | −1.5% | −2.2% |
| Last close | $484.45 | $450.65 |
| P/E at the last close | 29.5× | 28.5× |
| Insider trades, last 12 months | sold $13.8 million | bought $3.6 million, sold $0 |
| Piotroski F-score | 9 of 9 | 7 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Moody'sS&P Global
Operating margin
Percent of revenue
Moody'sS&P Global
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Moody'sS&P Global
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Moody's and S&P Global pages.