MCO Moody's Corporation Common Stock
About Moody's Corporation Common Stock Company overview from Wikipedia
Moody's Corporation is an American business and financial services company. It is the holding company for Moody's Ratings, an American credit rating agency, and Moody's, an American provider of financial analysis software and services.
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Moody's Corporation is an American business and financial services company. It is the holding company for Moody's Ratings (previously known as Moody's Investors Service), an American credit rating agency, and Moody's (previously known as Moody's Analytics), an American provider of financial analysis software and services.
Moody's was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings. Moody's was acquired by Dun & Bradstreet in 1962. In 2000, Dun & Bradstreet spun off Moody's Corporation as a separate company that was listed on the NYSE under MCO. In 2007, Moody's Corporation was split into two operating divisions: Moody's Investors Service, the rating agency, and Moody's Analytics, containing all of its other products. It was included in the Fortune 500 list for the first time in 2021.
History
Moody's Corporation traces its history back to two publishing companies established by John Moody, the inventor of modern bond credit ratings. It was first published in 1900 by John Moody, nine years before he founded Moody's Corporation. Initially called Moody's Manual of Industrial and Miscellaneous Securities, it was later superseded by Moody's Manual of Railroads and Corporation Securities, then by Moody's Analyses of Investments.
In 1900, Moody published his first market assessment, called Moody's Manual of Industrial and Miscellaneous Securities, and established John Moody & Company. The publication provided detailed statistics relating to stocks and bonds of financial institutions, government agencies, manufacturing, mining, utilities, and food companies. It experienced early success, selling out its first print run in its first two months.
By 1903, Moody's Manual was a nationally recognized publication. The 1907 financial crisis fueled several changes in the markets, including the creation of the Federal Reserve System. Meanwhile, Moody was forced to sell his business due to a shortage of capital. Moody returned in 1909 with a new publication focused solely on railroad bonds, Analysis of Railroad Investments, and a new company, Moody's Analyses Publishing Company.
In 1962, Moody's Investors Service was bought by Dun & Bradstreet, a firm engaged in the related field of credit reporting, although they continued to operate largely as independent companies. By the late 1990s, Moody's superior performance compared to its parent company brought investor pressure to separate the businesses. In 1998, Dun & Bradstreet sold the Moody's publishing business to Financial Communications (later renamed Mergent). In December 1999, Dun & Bradstreet announced it would spin off Moody's Investors Service into a separate publicly traded company. The spin-off was completed on September 30, 2000.
In December 2022, the company was added to the Dow Jones Sustainability World Index.
Moody's Ratings
Moody's Ratings, previously known as Moody's Investors Service, is the bond credit rating business of Moody's Corporation, representing the company's traditional line of business and its historical name. Moody's Ratings rates debt securities in several market segments related to public and commercial securities in the bond market. These include government, municipal and corporate bonds; managed investments such as money market funds, fixed-income funds and hedge funds; financial institutions including banks and non-bank finance companies; and asset classes in structured finance.
Moody's Ratings' closest competitors are Standard & Poor's (S&P) and Fitch Group. Together, they are sometimes referred to as the Big Three credit rating agencies. Moody's Ratings and its close competitors play a key role in global capital markets as a supplementary credit analysis provider for banks and other financial institutions in assessing the credit risk of particular securities.
According to Moody's, the purpose of its ratings is to "provide investors with a simple system of gradation by which future relative creditworthiness of securities may be gauged". To each of its ratings from Aaa through Caa, Moody's appends numerical modifiers 1, 2 and 3; the lower the number, the higher-end the rating. Aaa, Ca and C are not modified this way.
Moody's
Moody's, previously known as Moody's Analytics, is a subsidiary of Moody's Corporation established in 2007 to focus on non-rating activities. It performs economic research related to credit analysis, performance management, financial modeling, structured analysis and financial risk management. Moody's also offers software and consulting services, including proprietary economic models and software tools, as well as professional training for the financial services sector, particularly risk management accreditation.
Moody's Analytics started in 1995 as a business unit providing quantitative analysis services, including credit risk assessment software and services, called Moody's Risk Management Service (MRMS), and grew through partnerships and acquisitions in the late 1990s and 2000s, expanding its client base and capabilities. Acquisitions included KMV, Economy.com, Wall Street Analytics, Fermat International, Enb Consulting Ltd., The Institute of Risk Standards and Qualifications (iRSQ), CSI Global Education Inc., and Bureau van Dijk.
The Moody's Foundation
In 2002, Moody's Corporation created a corporate philanthropy program, The Moody's Foundation, focused on educational initiatives in mathematics, economics and finance. The organization offers grants to 501(c)(3) non-profits and equivalent international organizations, accredited schools and some governmental organizations.
Since 2006, its main program has been the annual Moody's Mega Math Challenge (M3 Challenge), a student academic challenge co-sponsored with the Society for Industrial and Applied Mathematics (SIAM), in which several hundred teams of high school students use quantitative analysis and modeling to solve problems related to real-life financial topics such as Social Security and the Economic Stimulus Act of 2008. The program has continued to expand since 2010.
Moody's Research Labs
Moody's Research Labs, Inc. was a business incubator focused on research and development specializing in financial risk modeling and analysis, developing such products for use by other divisions of Moody's Corporation. Its president was Roger Stein. In March 2011, Moody's Analytics announced the release of a software program developed by Moody's Research Labs, the Mortgage Portfolio Analyzer, to assist portfolio managers in managing credit risk. Moody's Research Labs was dissolved in February 2012.
Lawsuit settlements
October 2011: Moody's reached a settlement resolving claims by the state of Connecticut that the credit rating company unfairly gave lower ratings to public bonds.
July 2012: Moody's said it reached a settlement with stockholders in lawsuits filed over structured finance ratings.
April 2013: Moody's reached a settlement avoiding what would have been their first jury trial over crisis-era ratings. The fourteen plaintiffs were led by Abu Dhabi Commercial Bank and King County, Washington. They filed lawsuits in 2008 and 2009 alleging that Moody's misled them by inflating ratings on two structured investment vehicles they purchased.
January 2017: Moody's Corporation, Moody's Analytics, and Moody's Investors Service reached an $863 million settlement with the U.S. Department of Justice and the attorneys general of 21 states and the District of Columbia "Arising From Conduct in the Lead up to the Financial Crisis." "The settlement resolves allegations arising from Moody's role in providing credit ratings for Residential Mortgage-Backed Securities (RMBS) and Collateralized Debt Obligations (CDO), contributing to the worst financial crisis since the Great Depression." Then California Attorney General Kamala Harris and then Missouri Attorney General Josh Hawley were among the 21 state signatories.
March 2021: Moody's reached a settlement with the European Union regarding conflicts of interest. Moody's was fined €3.7 million ($4.35 million).
Acquisitions
In 2019, Moody's Corporation purchased the majority share in the California-based climate risk data firm, Four Twenty Seven (427), that "measures the physical risks" of "climate change". This acquisition is the "latest indication that global warming can threaten the creditworthiness of governments and companies" globally, according to a July 25, 2019 article in The New York Times. In 2021, Moody's acquired Risk Management Solutions (RMS) from Daily Mail and General Trust for $2 billion. RMS generates risk models for the insurance and reinsurance industries.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
MCO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
MCO Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount |
|---|---|
| May 15, 2026 | $1.0300 |
| March 2, 2026 | $1.0300 |
| Nov. 21, 2025 | $0.9400 |
| Aug. 15, 2025 | $0.9400 |
| May 16, 2025 | $0.9400 |
| Feb. 25, 2025 | $0.9400 |
| Nov. 22, 2024 | $0.8500 |
| Aug. 16, 2024 | $0.8500 |
| May 16, 2024 | $0.8500 |
| Feb. 22, 2024 | $0.8500 |
| Nov. 22, 2023 | $0.7700 |
| Aug. 17, 2023 | $0.7700 |
| May 18, 2023 | $0.7700 |
| Feb. 23, 2023 | $0.7700 |
| Nov. 22, 2022 | $0.7000 |
| Aug. 18, 2022 | $0.7000 |
| May 19, 2022 | $0.7000 |
| Feb. 24, 2022 | $0.7000 |
| Nov. 22, 2021 | $0.6200 |
| Aug. 19, 2021 | $0.6200 |
MCO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 9 29.0%
- Buy 13 41.9%
- Hold 9 29.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
21 analysts · 2026-08-14Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $4.68 | $4.28 | 0.40% |
| March 31, 2026 | $4.33 | $4.26 | 0.07% |
| Dec. 31, 2025 | $3.64 | $3.45 | 0.19% |
| Sept. 30, 2025 | $3.92 | $3.71 | 0.21% |
| June 30, 2025 | $3.56 | $3.43 | 0.13% |
| March 31, 2025 | $3.83 | $3.57 | 0.26% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| MCO | — | 37.4 | 8.9% | 31.9% | 64.5% | — |
| SPGI | $156.15B | 35.6 | 7.9% | 29.1% | 13.9% | — |
| CME | — | 24.5 | 6.4% | 62.5% | 14.8% | — |
| ICE | $91.83B | 28.1 | 7.5% | 26.2% | 11.7% | — |
| NDAQ | $55.35B | 31.4 | 11.7% | 21.6% | 15.3% | 63.5% |
| MSCI | $42.21B | 36.6 | 9.8% | 38.4% | -67.9% | — |
| COIN | $60.57B | 50.8 | 9.4% | 17.5% | 9.4% | — |
| TW | $25.32B | 28.4 | 18.9% | 39.6% | 13.2% | — |
| FDS | $14.05B | 24.0 | 5.4% | 25.7% | 28.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.72B | $7.09B | $5.92B | $5.47B | $6.22B | $5.37B | $4.83B | $4.44B | $4.20B | $3.60B | $3.48B | $3.33B | |
| Cost of Revenue | $1.97B | $1.95B | $1.69B | $1.61B | $1.64B | $1.48B | $1.39B | $1.25B | $1.22B | · | · | · | |
| R&D Expense | · | · | · | · | · | · | · | $51M | $42M | $40M | $29M | $38M | |
| SG&A Expense | $1.80B | $1.74B | $1.63B | $1.53B | $1.48B | $1.23B | $1.17B | $1.08B | $986M | $931M | $921M | $869M | |
| Operating Expenses | $4.37B | $4.21B | $3.78B | $3.58B | $3.37B | $2.98B | $2.83B | $2.58B | $2.38B | $2.95B | $2.01B | $1.90B | |
| Operating Income | $3.35B | $2.88B | $2.14B | $1.88B | $2.84B | $2.39B | $2.00B | $1.87B | $1.82B | $651M | $1.47B | $1.44B | |
| Interest Income | · | · | · | · | · | · | $17M | $15M | $16M | $11M | $10M | $7M | |
| Other Non-op | $-31M | $61M | $49M | $38M | $82M | $46M | $20M | $19M | $4M | $64M | $21M | $36M | |
| Pretax Income | $3.13B | $2.70B | $1.94B | $1.76B | $2.75B | $2.23B | $1.81B | $1.67B | $1.79B | $558M | $1.38B | $1.46B | |
| Income Tax | $668M | $640M | $327M | $386M | $541M | $452M | $381M | $352M | $779M | $282M | $430M | $455M | |
| Net Income | $2.46B | $2.06B | $1.61B | $1.37B | $2.21B | $1.78B | $1.42B | $1.31B | $1.00B | $267M | $941M | $989M | |
| EPS (Basic) | $13.73 | $11.32 | $8.77 | $7.47 | $11.88 | $9.48 | $7.51 | $6.84 | $5.24 | $1.38 | $4.70 | $4.69 | |
| EPS (Diluted) | $13.67 | $11.26 | $8.73 | $7.44 | $11.78 | $9.39 | $7.42 | $6.74 | $5.15 | $1.36 | $4.63 | $4.61 | |
| Shares (Basic) | 179,100,000 | 181,800,000 | 183,200,000 | 183,900,000 | 186,400,000 | 187,600,000 | 189,300,000 | 191,600,000 | 191,100,000 | 192,700,000 | 200,100,000 | 210,700,000 | |
| Shares (Diluted) | 179,900,000 | 182,700,000 | 184,000,000 | 184,700,000 | 187,900,000 | 189,300,000 | 191,600,000 | 194,400,000 | 194,200,000 | 195,400,000 | 203,400,000 | 214,700,000 | |
| EBITDA | $3.35B | $2.88B | $2.14B | $1.88B | $2.84B | $2.39B | $2.00B | $1.87B | $1.81B | $639M | $1.47B | $1.51B |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.38B | $2.41B | $2.13B | $1.77B | $1.81B | $2.60B | $1.83B | $1.69B | $1.07B | $2.05B | $1.76B | $1.22B | |
| Short-term Investments | $64M | $566M | $63M | $90M | $91M | $99M | $98M | $133M | $112M | $173M | $475M | $458M | |
| Receivables | $2.02B | $1.80B | $1.66B | $1.65B | $1.72B | $1.43B | $1.42B | $1.29B | $1.15B | $887M | $802M | $792M | |
| Prepaid Expense | $184M | $179M | $133M | $119M | $99M | $91M | $71M | $67M | $92M | $66M | $67M | $60M | |
| Other Current Assets | $714M | $515M | $489M | $583M | $389M | $383M | $330M | $282M | $250M | $141M | $180M | $172M | |
| Current Assets | $5.19B | $5.29B | $4.34B | $4.09B | $4.01B | $4.51B | $3.68B | $3.39B | $2.58B | $3.25B | $3.24B | $2.69B | |
| PP&E (Net) | $722M | $656M | $603M | $502M | $347M | $278M | $292M | $320M | $325M | $326M | $306M | $302M | |
| PP&E (Gross) | $2.29B | $2.11B | $1.88B | $1.62B | $1.36B | $1.21B | $1.13B | $1.11B | $1.03B | $921M | $825M | $754M | |
| Accum. Depreciation | $1.57B | $1.45B | $1.27B | $1.12B | $1.01B | $928M | $839M | $790M | $706M | $596M | $519M | $452M | |
| Goodwill | $6.37B | $5.99B | $5.96B | $5.84B | $6.00B | $4.56B | $3.72B | $3.78B | $3.75B | $1.02B | $976M | $1.02B | |
| Intangibles | $1.87B | $1.89B | $2.05B | $2.21B | $2.47B | $1.82B | $1.50B | $1.57B | $1.63B | $296M | $299M | $346M | |
| Other Non-current Assets | $1.10B | $1.17B | $1.14B | $1.09B | $1.03B | $515M | $389M | $275M | $160M | $112M | $140M | $146M | |
| Total Assets | $15.83B | $15.51B | $14.62B | $14.35B | $14.68B | $12.41B | $10.27B | $9.53B | $8.59B | $5.33B | $5.10B | $4.67B | |
| Accounts Payable | $62M | $53M | $23M | $52M | $47M | $39M | $38M | $30M | $22M | $28M | $22M | $19M | |
| Short-term Debt | · | · | · | · | · | · | · | · | $130M | · | · | · | |
| Current Liabilities | $2.98B | $3.60B | $2.50B | $2.38B | $2.50B | $2.22B | $1.91B | $2.10B | $2.06B | $2.43B | $1.22B | $1.20B | |
| Capital Leases | $262M | $216M | $306M | $368M | $455M | $427M | $485M | · | · | · | · | · | |
| Deferred Tax | $315M | $449M | $402M | $457M | $488M | $404M | $357M | $352M | $342M | $104M | $84M | $96M | |
| Other Non-current Liabilities | $859M | $517M | $676M | $674M | $438M | $590M | $504M | $576M | $664M | $425M | $417M | $431M | |
| Total Liabilities | $11.62B | $11.78B | $11.15B | $11.66B | $11.76B | $10.65B | $9.43B | $8.87B | $8.71B | $6.35B | $5.44B | $4.63B | |
| Long-term Debt | $6.99B | $7.43B | $7.00B | $7.39B | $7.41B | $6.42B | $5.58B | $5.68B | $5.41B | $3.36B | $3.38B | · | |
| Total Debt | $6.99B | $7.43B | $7.00B | $7.39B | · | · | $5.58B | $5.68B | $5.54B | $3.36B | $3.40B | $2.55B | |
| Common Stock | $3M | $3M | $3M | · | · | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Retained Earnings | $17.85B | $16.07B | $14.66B | $13.62B | $12.76B | $11.01B | $9.66B | $8.59B | $7.47B | $6.69B | $6.71B | $6.04B | |
| Treasury Stock | $14.98B | $13.32B | $12.01B | $11.51B | $10.51B | $9.75B | $9.25B | $8.31B | $8.15B | $8.03B | $7.39B | $6.38B | |
| AOCI | $-500M | $-638M | $-567M | $-643M | $-410M | $-432M | $-439M | $-426M | $-172M | $-365M | $-340M | $-235M | |
| Stockholders' Equity | $4.05B | $3.56B | $3.32B | $2.52B | $2.73B | $1.57B | $612M | $459M | $-328M | $-1.23B | $-565M | $-188M | |
| Liabilities + Equity | $15.83B | $15.51B | $14.62B | $14.35B | $14.68B | $12.41B | $10.27B | $9.53B | $8.59B | $5.33B | $5.10B | $4.67B | |
| Shares Outstanding | · | · | · | · | · | · | · | · | · | · | 10,000,000 | 10,000,000 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $480M | $431M | $373M | $331M | $257M | $220M | $200M | $192M | $158M | $127M | $114M | $67M | |
| Stock-based Comp | $232M | $220M | $193M | $169M | $175M | $154M | $136M | $130M | $123M | $98M | $87M | $80M | |
| Deferred Tax | $-17M | $-62M | $-38M | $48M | $-218M | $-44M | $-38M | $-99M | $88M | $-153M | $18M | $30M | |
| Amort. of Intangibles | $215M | $198M | $198M | $200M | $158M | $124M | $103M | $102M | $61M | $34M | $32M | $28M | |
| Restructuring | $108M | $59M | $87M | $114M | $0 | $50M | $60M | $49M | $0 | $12M | · | · | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | · | · | $-148M | |
| Operating Cash Flow | $2.90B | $2.84B | $2.15B | $1.47B | $2.00B | $2.15B | $1.68B | $1.46B | $755M | $1.26B | $1.20B | $1.02B | |
| CapEx | $326M | $317M | $271M | $283M | $139M | $103M | $69M | $91M | $91M | $115M | $89M | $75M | |
| Investing Cash Flow | $2M | $-1.06B | $-247M | $-262M | $-2.62B | $-1.08B | $36M | $-406M | $-3.42B | $102M | $-92M | $-565M | |
| Stock Repurchased | $1.61B | $1.29B | $490M | $983M | $750M | $503M | $991M | $203M | $200M | $739M | $1.10B | $1.22B | |
| Net Stock Activity | $-1.61B | $-1.29B | $-490M | $-983M | $-750M | $-503M | $-991M | $-203M | $-200M | $-739M | $-1.10B | $-1.22B | |
| Dividends Paid | $701M | $620M | $564M | $515M | $463M | $420M | $378M | $337M | $290M | $285M | $272M | $236M | |
| Financing Cash Flow | $-3.06B | $-1.45B | $-1.58B | $-1.21B | $-122M | $-351M | $-1.56B | $-412M | $1.60B | $-1.04B | $-506M | $-1.06B | |
| Net Change in Cash | $-24M | $278M | $361M | $-42M | $-786M | $765M | $147M | $613M | $-980M | $294M | $538M | $-700M | |
| Taxes Paid | $825M | $613M | $344M | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $2.58B | $2.52B | $1.88B | $1.19B | $1.87B | $2.04B | $1.61B | $1.37B | $657M | $1.11B | $1.06B | $944M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 43.4% | 40.6% | 36.1% | 34.4% | 45.7% | 44.5% | 41.4% | 42.0% | 43.0% | 17.7% | 42.3% | 43.2% | |
| Net Margin | 31.9% | 29.0% | 27.2% | 25.1% | 35.6% | 33.1% | 29.4% | 29.5% | 23.8% | 7.4% | 27.0% | 29.6% | |
| Pretax Margin | 40.6% | 38.1% | 32.7% | 32.2% | 44.3% | 41.5% | 37.5% | 37.6% | 42.5% | 15.5% | 39.6% | 43.8% | |
| EBITDA Margin | 43.4% | 40.6% | 36.1% | 34.4% | 45.7% | 44.5% | 41.4% | 42.0% | 43.0% | 17.7% | 42.3% | 45.2% | |
| ROA | 15.7% | 13.7% | 11.1% | 9.5% | 16.4% | 15.7% | 14.4% | 14.4% | 14.4% | 5.1% | 19.2% | 21.8% | |
| ROE | 64.5% | 59.8% | 55.1% | 52.4% | 103.1% | 163.0% | 265.6% | 1981.2% | -128.9% | -29.8% | -250.1% | 1325.3% | |
| ROIC | 23.9% | 20.0% | 17.2% | 14.8% | 83.8% | 121.3% | 25.5% | 24.0% | 19.6% | 14.8% | 35.8% | 42.0% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.7 | 1.5 | 1.7 | 1.7 | 1.6 | 2.0 | 1.9 | 1.6 | 1.3 | 1.3 | 2.7 | 2.2 | |
| Quick Ratio | 1.5 | 1.3 | 1.5 | 1.5 | 1.5 | 1.9 | 1.8 | 1.5 | 1.1 | 1.3 | 2.5 | 2.1 | |
| Debt / Equity | 1.7 | 2.1 | 2.1 | 2.9 | · | · | 9.1 | 12.3 | -16.9 | -2.7 | -6.0 | -13.6 | |
| LT Debt / Equity | 1.7 | 1.9 | 2.1 | 2.9 | · | · | 9.1 | 11.4 | -15.6 | -2.5 | -6.0 | -13.6 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | 0.4 | 0.4 | 0.5 | 0.5 | 0.5 | 0.5 | 0.6 | 0.7 | 0.7 | 0.7 | |
| Receivables Turnover | 4.0 | 4.1 | 3.6 | 3.2 | 3.9 | 3.8 | 3.6 | 3.7 | 4.1 | 4.3 | 4.4 | 4.5 |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.9% | 19.8% | 8.2% | -12.1% | 15.8% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 12.2% | 4.5% | 3.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 7.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 21.4% | 29.0% | 17.3% | -36.8% | 25.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 22.5% | -1.5% | -2.4% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 7.8% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 19.5% | 28.1% | 17.0% | -37.9% | 24.5% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 21.4% | -2.4% | -3.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 6.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 10.8% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $7.72B | $7.09B | $5.92B | $5.47B | $6.22B | $5.37B | $4.83B | $4.44B | $4.20B | $3.60B | $3.48B | $3.33B | |
| Net Income TTM | $2.46B | $2.06B | $1.61B | $1.37B | $2.21B | $1.78B | $1.42B | $1.31B | $1.00B | $267M | $941M | $989M | |
| Market Cap | · | · | · | · | · | · | · | · | · | · | $1.00B | $958M | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | $2.17B | $1.83B | |
| P/E | 37.4 | 42.0 | 44.7 | 37.4 | 33.2 | 30.9 | 32.0 | 20.8 | 28.7 | 69.3 | 21.7 | 20.8 | |
| P/S | · | · | · | · | · | · | · | · | · | · | 0.3 | 0.3 | |
| P/B | · | · | · | · | · | · | · | · | · | · | -1.8 | -5.1 | |
| P / Cash Flow | · | · | · | · | · | · | · | · | · | · | 0.9 | 0.9 | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | 0.9 | 1.0 | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | · | 1.5 | 1.2 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | · | 2.0 | 1.9 | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | · | 0.6 | 0.5 | |
| Dividend Yield | · | · | · | · | · | · | · | · | · | · | 27.1% | 24.6% | |
| Earnings Yield | 2.7% | 2.4% | 2.2% | 2.7% | 3.0% | 3.2% | 3.1% | 4.8% | 3.5% | 1.4% | 4.6% | 4.8% | |
| Payout Ratio | 28.5% | 30.1% | 35.1% | 37.5% | 20.9% | 23.6% | 26.6% | 25.8% | 29.0% | 106.9% | 28.9% | 23.9% | |
| Annual Payout | $701M | $620M | $564M | $515M | $463M | $420M | $378M | $337M | $290M | $285M | $272M | $236M |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.19B | $2.08B | $1.89B | $2.01B | $1.90B | $1.92B | $1.67B | $1.81B | $1.82B | $1.79B | $1.48B | $1.47B | $1.49B | $1.47B | $1.29B | $1.27B | |
| Cost of Revenue | $518M | $531M | $501M | $492M | $489M | $491M | $497M | $512M | $469M | $467M | $421M | $412M | $426M | $428M | $410M | $393M | |
| SG&A Expense | $463M | $477M | $468M | $453M | $443M | $439M | $442M | $434M | $446M | $413M | $428M | $403M | $415M | $386M | $403M | $385M | |
| Operating Expenses | $1.14B | $1.16B | $1.12B | $1.09B | $1.08B | $1.08B | $1.11B | $1.07B | $1.04B | $985M | $982M | $937M | $944M | $916M | $984M | $862M | |
| Operating Income | $1.05B | $922M | $770M | $917M | $818M | $846M | $561M | $738M | $775M | $801M | $498M | $535M | $550M | $554M | $306M | $413M | |
| Other Non-op | $2M | $14M | $-73M | $8M | $15M | $19M | $16M | $25M | $7M | $13M | $18M | $18M | $13M | $0 | $16M | $26M | |
| Pretax Income | $1.17B | $870M | $687M | $867M | $772M | $804M | $525M | $703M | $719M | $752M | $450M | $487M | $492M | $506M | $327M | $381M | |
| Income Tax | $292M | $209M | $76M | $220M | $193M | $179M | $130M | $169M | $166M | $175M | $110M | $97M | $115M | $5M | $81M | $78M | |
| Net Income | $878M | $661M | $610M | $646M | $578M | $625M | $395M | $534M | $552M | $577M | $340M | $389M | $377M | $501M | $246M | $303M | |
| EPS (Basic) | $5.04 | $3.74 | $3.43 | $3.61 | $3.22 | $3.47 | $2.19 | $2.94 | $3.03 | $3.16 | $1.87 | $2.12 | $2.05 | $2.73 | $1.35 | $1.65 | |
| EPS (Diluted) | $5.03 | $3.73 | $3.40 | $3.60 | $3.21 | $3.46 | $2.16 | $2.93 | $3.02 | $3.15 | $1.85 | $2.11 | $2.05 | $2.72 | $1.34 | $1.65 | |
| Shares (Basic) | 174,100,000 | 176,800,000 | -359,500,000 | 178,900,000 | 179,700,000 | 180,000,000 | -364,800,000 | 181,700,000 | 182,300,000 | 182,600,000 | -366,900,000 | 183,300,000 | 183,500,000 | 183,300,000 | -368,500,000 | 183,200,000 | |
| Shares (Diluted) | 174,500,000 | 177,300,000 | -360,600,000 | 179,600,000 | 180,200,000 | 180,700,000 | -366,200,000 | 182,500,000 | 183,000,000 | 183,400,000 | -368,200,000 | 184,000,000 | 184,100,000 | 184,100,000 | -370,200,000 | 183,900,000 | |
| EBITDA | $1.05B | $922M | · | $917M | $818M | $846M | · | $738M | $775M | $801M | · | $535M | $550M | $554M | · | $413M |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.47B | $1.47B | $2.38B | $2.18B | $2.17B | $2.14B | $2.41B | $2.64B | $2.63B | $2.48B | · | $2.01B | $2.28B | $2.12B | · | $1.66B | |
| Short-term Investments | $29M | $41M | $64M | $78M | $116M | $62M | $566M | $573M | $63M | $58M | · | $73M | $57M | $78M | · | $89M | |
| Receivables | $1.92B | $2.04B | $2.02B | $1.77B | $1.78B | $1.85B | $1.80B | $1.71B | $1.69B | $1.83B | · | $1.51B | $1.54B | $1.71B | · | $1.52B | |
| Prepaid Expense | $172M | $214M | $184M | $188M | $159M | $184M | $179M | $168M | $162M | $147M | · | $137M | $112M | $131M | · | $105M | |
| Other Current Assets | $567M | $660M | $714M | $566M | $573M | $514M | $515M | $470M | $489M | $437M | · | $445M | $513M | $517M | · | $463M | |
| Current Assets | $3.98B | $4.21B | $5.19B | $4.60B | $4.64B | $4.57B | $5.29B | $5.39B | $4.88B | $4.81B | · | $4.04B | $4.39B | $4.43B | · | $3.73B | |
| PP&E (Net) | $754M | $735M | $722M | $712M | $689M | $671M | $656M | $662M | $652M | $613M | · | $573M | $541M | $525M | · | $472M | |
| PP&E (Gross) | · | · | $2.29B | · | · | · | $2.11B | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $1.58B | $1.63B | $1.57B | $1.51B | $1.59B | $1.51B | $1.45B | $1.44B | $1.38B | $1.32B | · | $1.23B | $1.20B | $1.15B | · | $1.08B | |
| Goodwill | $6.32B | $6.33B | $6.37B | $6.46B | $6.48B | $6.24B | $5.99B | $6.15B | $5.89B | $5.91B | $5.96B | $5.83B | $5.93B | $5.89B | $5.84B | $5.62B | |
| Intangibles | $1.75B | $1.80B | $1.87B | $1.92B | $1.99B | $1.98B | $1.89B | $1.97B | $1.93B | $1.98B | · | $2.06B | $2.14B | $2.18B | · | $2.18B | |
| Other Non-current Assets | $1.09B | $1.12B | $1.10B | $1.14B | $1.15B | $1.14B | $1.17B | $1.09B | $1.15B | $1.17B | · | $1.13B | $1.10B | $1.10B | · | $1.22B | |
| Total Assets | $14.68B | $14.73B | $15.83B | $15.41B | $15.49B | $15.10B | $15.51B | $15.77B | $15.01B | $15.01B | · | $14.19B | $14.69B | $14.72B | · | $13.94B | |
| Accounts Payable | $48M | $97M | $62M | $54M | $53M | $98M | $53M | $50M | $57M | $88M | · | $41M | $37M | $70M | · | $34M | |
| Current Liabilities | $3.35B | $3.64B | $2.98B | $2.50B | $2.65B | $2.92B | $3.60B | $3.23B | $3.22B | $3.38B | · | $2.27B | $2.67B | $2.99B | · | $2.07B | |
| Capital Leases | $483M | $256M | $262M | $282M | $214M | $210M | $216M | $245M | $254M | $280M | · | $316M | $344M | $349M | · | $389M | |
| Deferred Tax | $292M | $311M | $315M | $348M | $355M | $439M | $449M | $416M | $465M | $458M | · | $483M | $485M | $476M | · | $604M | |
| Other Non-current Liabilities | $791M | $774M | $859M | $901M | $913M | $574M | $517M | $661M | $618M | $635M | · | $647M | $689M | $610M | · | $588M | |
| Total Liabilities | $11.51B | $11.59B | $11.62B | $11.30B | $11.38B | $11.24B | $11.78B | $11.70B | $11.07B | $11.28B | · | $10.84B | $11.38B | $11.66B | · | $11.51B | |
| Long-term Debt | $6.95B | $6.96B | $6.99B | $6.98B | $6.97B | $6.82B | $7.43B | $7.57B | $6.94B | $6.94B | · | $6.85B | $7.22B | $7.46B | · | $7.48B | |
| Total Debt | $6.95B | $6.96B | · | $6.98B | $6.97B | $6.82B | · | $7.57B | $6.94B | $6.94B | · | $6.85B | $7.22B | $7.46B | · | $7.48B | |
| Common Stock | · | · | $3M | · | · | · | $3M | · | · | · | · | · | · | · | · | · | |
| Retained Earnings | $19.03B | $18.33B | $17.85B | $17.41B | $16.93B | $16.53B | $16.07B | $15.86B | $15.48B | $15.08B | · | $14.46B | $14.21B | $13.98B | · | $13.50B | |
| Treasury Stock | $17.20B | $16.51B | $14.98B | $14.54B | $14.02B | $13.73B | $13.32B | $12.84B | $12.41B | $12.15B | · | $11.79B | $11.63B | $11.57B | · | $11.51B | |
| AOCI | $-554M | $-519M | $-500M | $-538M | $-519M | $-578M | $-638M | $-503M | $-617M | $-608M | · | $-652M | $-570M | $-589M | · | $-748M | |
| Stockholders' Equity | $3.02B | $2.99B | $4.05B | $3.96B | $3.95B | $3.70B | $3.56B | $3.90B | $3.78B | $3.58B | · | $3.19B | $3.14B | $2.89B | · | $2.25B | |
| Liabilities + Equity | $14.68B | $14.73B | $15.83B | $15.41B | $15.49B | $15.10B | $15.51B | $15.77B | $15.01B | $15.01B | · | $14.19B | $14.69B | $14.72B | · | $13.94B |
Cash Flow 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $126M | $122M | $124M | $123M | $120M | $113M | $113M | $108M | $110M | $100M | $97M | $95M | $93M | $88M | $89M | $83M | |
| Stock-based Comp | $59M | $58M | $58M | $57M | $61M | $56M | $54M | $57M | $56M | $53M | $50M | $46M | $50M | $47M | $39M | $46M | |
| Deferred Tax | $-51M | $23M | $-57M | $23M | $-1M | $18M | $-71M | $-16M | $0 | $25M | $-28M | $-31M | $21M | $0 | $-10M | $-7M | |
| Amort. of Intangibles | $53M | $53M | $52M | $55M | $55M | $53M | $50M | $51M | $48M | $49M | $48M | $49M | $50M | $51M | $50M | $48M | |
| Restructuring | $32M | $27M | $27M | $21M | $27M | $33M | $46M | $6M | $2M | $5M | $36M | $27M | $10M | $14M | $82M | $1M | |
| Operating Cash Flow | $779M | $939M | $858M | $743M | $543M | $757M | $674M | $703M | $686M | $775M | $477M | $462M | $604M | $608M | $377M | $336M | |
| CapEx | $91M | $95M | $81M | $85M | $75M | $85M | $74M | $72M | $93M | $78M | $73M | $71M | $54M | $73M | $79M | $71M | |
| Investing Cash Flow | $112M | $-91M | $-42M | $-54M | $-126M | $224M | $-181M | $-684M | $-95M | $-96M | $-54M | $-90M | $-40M | $-63M | $-90M | $0 | |
| Stock Repurchased | $694M | $1.47B | $437M | $513M | $284M | $373M | $480M | $428M | $264M | $120M | $212M | $170M | $67M | $41M | $0 | $112M | |
| Net Stock Activity | · | $-1.47B | · | · | · | $-373M | · | · | · | $-120M | · | · | · | $-41M | · | · | |
| Dividends Paid | $180M | $185M | $167M | $168M | $171M | $195M | $155M | $156M | $154M | $155M | $140M | $141M | $142M | $141M | $128M | $128M | |
| Financing Cash Flow | $-910M | $-1.72B | $-609M | $-674M | $-482M | $-1.30B | $-634M | $-81M | $-423M | $-308M | $-353M | $-607M | $-408M | $-216M | $-251M | $-245M | |
| Net Change in Cash | $-2M | $-915M | $203M | $7M | $35M | $-269M | $-234M | $7M | $159M | $346M | $124M | $-272M | $159M | $350M | $113M | $39M | |
| Free Cash Flow | · | $844M | · | · | · | $672M | · | · | · | $697M | · | · | · | $535M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 47.9% | 44.4% | · | 45.7% | 43.1% | 44.0% | · | 40.7% | 42.6% | 44.9% | · | 36.4% | 36.8% | 37.7% | · | 32.4% | |
| Net Margin | 40.2% | 31.8% | · | 32.2% | 30.4% | 32.5% | · | 29.4% | 30.4% | 32.3% | · | 26.4% | 25.2% | 34.1% | · | 23.8% | |
| Pretax Margin | 53.6% | 41.9% | · | 43.2% | 40.7% | 41.8% | · | 38.8% | 39.6% | 42.1% | · | 33.1% | 32.9% | 34.4% | · | 29.9% | |
| EBITDA Margin | 47.9% | 44.4% | · | 45.7% | 43.1% | 44.0% | · | 40.7% | 42.6% | 44.9% | · | 36.4% | 36.8% | 37.7% | · | 32.4% | |
| ROA | 5.8% | 4.4% | · | 4.1% | 3.8% | 4.2% | · | 3.6% | 3.7% | 3.9% | · | 2.8% | 2.6% | 3.4% | · | 2.1% | |
| ROE | 25.2% | 19.8% | · | 16.4% | 15.0% | 17.2% | · | 15.0% | 16.0% | 17.8% | · | 14.3% | 13.9% | 19.0% | · | 12.9% | |
| ROIC | 7.9% | 7.0% | · | 6.3% | 5.6% | 6.2% | · | 4.9% | 5.6% | 5.8% | · | 4.3% | 4.1% | 5.3% | · | 3.4% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.2 | · | 1.8 | 1.8 | 1.6 | · | 1.7 | 1.5 | 1.4 | · | 1.8 | 1.6 | 1.5 | · | 1.8 | |
| Quick Ratio | 1.0 | 1.0 | · | 1.6 | 1.5 | 1.4 | · | 1.5 | 1.4 | 1.3 | · | 1.6 | 1.5 | 1.3 | · | 1.6 | |
| Debt / Equity | 2.3 | 2.3 | · | 1.8 | 1.8 | 1.8 | · | 1.9 | 1.8 | 1.9 | · | 2.1 | 2.3 | 2.6 | · | 3.3 | |
| LT Debt / Equity | 2.1 | 2.1 | · | 1.8 | 1.8 | 1.8 | · | 1.8 | 1.7 | 1.8 | · | 2.1 | 2.2 | 2.4 | · | 3.3 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.2 | 1.1 | · | 1.2 | 1.1 | 1.0 | · | 1.1 | 1.1 | 1.0 | · | 1.0 | 1.0 | 0.8 | · | 0.8 |
Valuation (TTM) 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8.17B | $7.91B | · | $7.64B | $7.45B | $7.34B | · | $6.89B | $6.57B | $6.22B | · | $5.71B | $5.62B | $5.65B | · | $5.70B | |
| Net Income TTM | $2.76B | $2.51B | · | $2.38B | $2.29B | $2.29B | · | $2.05B | $1.90B | $1.84B | · | $1.57B | $1.51B | $1.63B | · | $1.60B | |
| P/E | 29.1 | 31.2 | · | 36.1 | 39.7 | 37.1 | · | 42.3 | 40.7 | 39.2 | · | 37.1 | 42.5 | 34.7 | · | 28.2 | |
| Earnings Yield | 3.4% | 3.2% | · | 2.8% | 2.5% | 2.7% | · | 2.4% | 2.5% | 2.5% | · | 2.7% | 2.4% | 2.9% | · | 3.5% | |
| Payout Ratio | · | 28.0% | · | · | · | 31.2% | · | · | · | 26.9% | · | · | · | 28.1% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $7.72B | $7.09B | $5.92B | $5.47B | $6.22B |
| Operating Margin % | 43.4% | 40.6% | 36.1% | 34.4% | 45.7% |
| Net Income | $2.46B | $2.06B | $1.61B | $1.37B | $2.21B |
| Diluted EPS | $13.67 | $11.26 | $8.73 | $7.44 | $11.78 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.7 | 2.1 | 2.1 | 2.9 | — |
| Current Ratio | 1.7 | 1.5 | 1.7 | 1.7 | 1.6 |
| Quick Ratio | 1.5 | 1.3 | 1.5 | 1.5 | 1.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $2.58B | $2.52B | $1.88B | $1.19B | $1.87B |
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Institutional owners (13F) 1,531 filers · $41.1B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 156 (-19 vs prior Q) | 108 (-56 vs prior Q) | 502 (+18 vs prior Q) | 492 (-19 vs prior Q) | +494K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| TCI FUND MANAGEMENT LTD | $6,492,167,509 | 14,334,027 | 15.82% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $4,419,581,131 | 9,757,973 | 10.77% | Shares |
| STATE STREET CORP | $3,220,888,947 | 7,111,386 | 7.85% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,690,922,470 | 3,733,380 | 4.12% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,590,409,402 | 3,521,117 | 3.87% | Shares |
| FMR LLC | $1,557,226,252 | 3,438,193 | 3.79% | Shares |
| NORGES BANK | $1,074,347,980 | 2,372,048 | 2.62% | Shares |
| PineStone Asset Management Inc. | $1,034,451,616 | 2,283,961 | 2.52% | Shares |
| Fiera Capital Corp | $778,141,924 | 1,718,056 | 1.90% | Shares |
| Egerton Capital (UK) LLP | $771,879,399 | 1,704,229 | 1.88% | Shares |
| WINDACRE PARTNERSHIP LLC | $638,571,908 | 1,409,900 | 1.56% | Shares |
| Valley Forge Capital Management, LP | $596,580,789 | 1,317,188 | 1.45% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $543,968,696 | 1,201,026 | 1.33% | Shares |
| AKRE CAPITAL MANAGEMENT LLC | $523,979,978 | 1,156,893 | 1.28% | Shares |
| Rothschild & Co Wealth Management UK Ltd | $500,447,160 | 1,104,935 | 1.22% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $407,749,566 | 900,268 | 0.99% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $385,585,289 | 851,332 | 0.94% | Shares |
| Ninety One UK Ltd | $378,899,667 | 836,571 | 0.92% | Shares |
| GOLDMAN SACHS GROUP INC | $338,031,069 | 746,337 | 0.82% | Shares |
| NEUBERGER BERMAN GROUP LLC | $295,121,270 | 651,597 | 0.72% | Shares |
| Longview Partners (Guernsey) LTD | $253,084,902 | 558,785 | 0.62% | Shares |
| Allen Investment Management, LLC | $246,778,784 | 544,862 | 0.60% | Shares |
| GENERATION INVESTMENT MANAGEMENT LLP | $243,904,667 | 538,516 | 0.59% | Shares |
| National Pension Service | $226,879,857 | 500,927 | 0.55% | Shares |
| BLS Capital Fondsmaeglerselskab A/S | $210,418,932 | 464,583 | 0.51% | Shares |
| MARSHFIELD ASSOCIATES | $191,497,359 | 422,806 | 0.47% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $186,707,854 | 412,231 | 0.45% | Shares |
| STOREBRAND ASSET MANAGEMENT AS | $186,137,438 | 410,972 | 0.45% | Shares |
| Local Pensions Partnership Investment Ltd | $184,487,167 | 407,207 | 0.45% | Shares |
| Evergreen Quality Fund GP, Ltd. | $183,070,264 | 404,200 | 0.45% | Shares |
| APG Asset Management N.V. | $169,554,423 | 428,004 | 0.41% | Shares |
| Canoe Financial LP | $168,994,416 | 373,122 | 0.41% | Shares |
| Legal & General Group Plc | $166,905,095 | 368,509 | 0.41% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $166,216,658 | 366,989 | 0.40% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $153,208,347 | 338,268 | 0.37% | Shares |
| California Public Employees Retirement System | $150,764,386 | 332,872 | 0.37% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $149,147,009 | 329,301 | 0.36% | Shares |
| Vanguard Global Advisers, LLC | $146,810,395 | 324,142 | 0.36% | Shares |
| ROYAL LONDON ASSET MANAGEMENT LTD | $144,884,126 | 319,889 | 0.35% | Shares |
| Caisse de depot et placement du Quebec | $143,196,999 | 316,164 | 0.35% | Shares |
| Skye Global Management LP | $141,311,040 | 312,000 | 0.34% | Shares |
| ALTAROCK PARTNERS LP | $137,064,462 | 302,624 | 0.33% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $134,768,158 | 297,554 | 0.33% | Shares |
| BlackRock, Inc. | $133,972,377 | 295,797 | 0.33% | Shares |
| BARCLAYS PLC | $129,948,184 | 286,912 | 0.32% | Shares |
| RHUMBLINE ADVISERS | $129,721,574 | 286,412 | 0.32% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $126,635,979 | 279,599 | 0.31% | Shares |
| Newport Trust Company, LLC | $122,503,537 | 270,475 | 0.30% | Shares |
| DF DENT & CO INC | $122,029,058 | 269,427 | 0.30% | Shares |
| Junto Capital Management LP | $117,894,170 | 260,298 | 0.29% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $110,791,026 | 244,615 | 0.27% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $104,240,629 | 238,947 | 0.25% | Shares |
| BRISTOL JOHN W & CO INC /NY/ | $103,075,987 | 227,581 | 0.25% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $101,783,991 | 226,182 | 0.25% | Shares |
| ROYAL BANK OF CANADA | $100,300,000 | 221,453 | 0.24% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $94,502,628 | 207,922 | 0.23% | Shares |
| Holocene Advisors, LP | $94,243,141 | 208,079 | 0.23% | Shares |
| BANK OF AMERICA CORP /DE/ | $93,935,155 | 207,399 | 0.23% | Shares |
| CONGRESS ASSET MANAGEMENT CO | $92,995,327 | 205,324 | 0.23% | Shares |
| HighTower Advisors, LLC | $90,852,912 | 200,594 | 0.22% | Shares |
| Robeco Institutional Asset Management B.V. | $86,625,478 | 191,260 | 0.21% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $83,422,429 | 184,188 | 0.20% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $82,503,001 | 182,158 | 0.20% | Shares |
| CHILTON INVESTMENT CO INC. | $80,709,891 | 178,199 | 0.20% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $79,898,296 | 176,528 | 0.19% | Shares |
| 1832 Asset Management L.P. | $79,431,751 | 175,377 | 0.19% | Shares |
| YCG, LLC | $78,903,194 | 174,210 | 0.19% | Shares |
| PFA Pension, Forsikringsaktieselskab | $76,724,256 | 169,399 | 0.19% | Shares |
| BARR E S & CO | $73,999,429 | 163,383 | 0.18% | Shares |
| MILLENNIUM MANAGEMENT LLC | $73,037,426 | 161,259 | 0.18% | Shares |
| AVIVA PLC | $72,081,765 | 159,149 | 0.18% | Shares |
| MACKENZIE FINANCIAL CORP | $71,308,178 | 157,441 | 0.17% | Shares |
| Freestone Grove Partners LP | $71,141,956 | 157,074 | 0.17% | Shares |
| SCHWARTZ INVESTMENT COUNSEL INC | $69,296,760 | 153,000 | 0.17% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $68,449,347 | 151,129 | 0.17% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $67,970,837 | 150,013 | 0.17% | Shares |
| ALLIANCEBERNSTEIN L.P. | $66,148,588 | 151,630 | 0.16% | Shares |
| Sarasin & Partners LLP | $66,029,396 | 145,786 | 0.16% | Shares |
| Meridiem Capital Partners LP | $65,575,116 | 144,783 | 0.16% | Shares |
| ARMSTRONG HENRY H ASSOCIATES INC | $65,330,430 | 144,243 | 0.16% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $64,713,656 | 142,881 | 0.16% | Shares |
| XXEC, Inc. | $63,526,379 | 141,570 | 0.15% | Shares |
| Quantinno Capital Management LP | $63,409,189 | 140,000 | 0.15% | Shares |
| CALEDONIA INVESTMENTS PLC | $61,732,996 | 136,300 | 0.15% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $60,625,154 | 133,854 | 0.15% | Shares |
| Assenagon Asset Management S.A. | $60,574,880 | 133,743 | 0.15% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $60,366,083 | 133,282 | 0.15% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $59,672,210 | 131,750 | 0.15% | Shares |
| Longaeva Partners L.P. | $59,270,923 | 130,864 | 0.14% | Shares |
| CITADEL ADVISORS LLC | $59,196,644 | 130,700 | 0.14% | Call option |
| United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund | $58,112,806 | 128,307 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $55,663,868 | 122,900 | 0.14% | Call option |
| Rings Capital Management LLC | $54,350,400 | 120,000 | 0.13% | Shares |
| GFI Investment Counsel Ltd. | $53,389,757 | 117,879 | 0.13% | Shares |
| MANNING & NAPIER ADVISORS LLC | $51,679,738 | 114,103 | 0.13% | Shares |
| Aberdeen Group plc | $48,880,032 | 107,922 | 0.12% | Shares |
| AMERIPRISE FINANCIAL INC | $47,657,631 | 105,223 | 0.12% | Shares |
| Squarepoint Ops LLC | $46,825,134 | 103,385 | 0.11% | Shares |
| Quantum Capital Management, LLC / NJ | $45,644,377 | 100,778 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $45,427,876 | 100,300 | 0.11% | Put option |
Company insiders 53 insiders · 24 officers · 25 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Robert Fauber | President and CEO | Aug. 3, 2026 M | 51,964 | 0 | 5 | $-1,514,773 |
| Christina Kosmowski | CEO, Moody's Analytics | July 1, 2026 A | 21,542 | 0 | 0 | $0 |
| RUTHERFURD JOHN JR | Chairman and CEO | April 26, 2005 F | 70,431 | 0 | 0 | $0 |
| Noemie Clemence Heuland | SVP & Chief Financial Officer | July 29, 2025 M | 2,148 | 0 | 0 | $0 |
| Mark Kaye | EVP & Chief Financial Officer | Aug. 7, 2023 M | 4,447 | 0 | 0 | $0 |
| Stephen T Tulenko | President, Moody's Analytics | Aug. 4, 2025 S | 5,258 | 0 | 0 | $0 |
| Michael L West | President, Moody's Investors | July 29, 2025 M | 8,209 | 0 | 0 | $0 |
| Mark Almeida | President, Moody's Analytics | Aug. 14, 2019 M | 155,455 | 0 | 0 | $0 |
| Richard G Steele | SVP - General Counsel | July 1, 2026 S | 1,828 | 0 | 2 | $-143,192 |
| Caroline Sullivan | SVP, Corp Controller | March 3, 2025 F | 1,508 | 0 | 0 | $0 |
| GOGGINS JOHN J | EVP and General Counsel | March 6, 2023 S | 8,587 | 0 | 0 | $0 |
| Melanie Hughes | SVP & Chief HR Officer | Aug. 12, 2021 S | 3,763 | 0 | 0 | $0 |
| Richard Cantor | Chief Risk Officer | May 13, 2019 S | 50,004 | 0 | 0 | $0 |
| Blair Worrall | SVP-Ratings Delivery and Data | Nov. 16, 2018 M | 13,943 | 0 | 0 | $0 |
| Michael S Crimmins | SVP-Corporate Controller | May 11, 2018 S | 2,968 | 0 | 0 | $0 |
| Lisa Westlake | SVP & Chief HR Officer | March 1, 2017 F | 24,697 | 0 | 0 | $0 |
| Joseph J Mccabe | SVP-Corporate Controller | March 1, 2016 F | 30,041 | 0 | 0 | $0 |
| Perry Rotella | SVP Chief Information Officer | March 2, 2009 F | 5,090 | 0 | 0 | $0 |
| Brian Clarkson | Pres, Moody's Investors Svcs | March 3, 2008 F | 65,593 | 0 | 0 | $0 |
| Andrew Kriegler | Senior Vice President | March 3, 2008 F | 6,406 | 0 | 0 | $0 |
| Jennifer Elliott | VP - Human Resources | March 1, 2007 F | 11,692 | 0 | 0 | $0 |
| Jeanne Dering | Executive VP | March 1, 2007 F | 48,110 | 0 | 0 | $0 |
| WOODHAM DOUGLAS M | Senior Vice President | Nov. 22, 2004 S | 6,158 | 0 | 0 | $0 |
| BRUSCHI CHARLES | Vice President, Controller | Feb. 9, 2004 A | 2,840 | 0 | 0 | $0 |
| Jose Minaya | Director | July 1, 2026 A | 2,908 | 0 | 0 | $0 |
| Lisa P Sawicki | Director | June 5, 2026 A | 529 | 0 | 0 | $0 |
| Therese Esperdy | Director | June 5, 2026 A | 5,228 | 0 | 0 | $0 |
| Leslie Seidman | Director | June 5, 2026 A | 12,191 | 0 | 0 | $0 |
| Jorge A. Bermudez | Director | June 5, 2026 A | 22,939 | 0 | 0 | $0 |
| Vincent A Forlenza | Director | June 5, 2026 A | 8,763 | 0 | 0 | $0 |
| Bruce Van Saun | Director | June 5, 2026 A | 9,880 | 0 | 0 | $0 |
| Sumit Dhawan | Director | July 30, 2025 A | 427 | 0 | 0 | $0 |
| Lloyd Howell JR | Director | June 6, 2025 A | 2,866 | 0 | 0 | $0 |
| Kathryn Hill | Director | March 14, 2025 A | 19,612 | 0 | 0 | $0 |
| Zig Serafin | Director | Feb. 21, 2025 A | 2,695 | 0 | 0 | $0 |
| MOODYS CORP /DE/ | Director | Feb. 21, 2024 A | 2,417 | 0 | 0 | $0 |
| MCDANIEL RAYMOND W | Director | March 2, 2023 S | 0 | 0 | 0 | $0 |
| Basil Anderson | Director | March 18, 2021 A | 45,529 | 0 | 0 | $0 |
| Henry A Mckinnell | Director | March 18, 2021 A | 89,488 | 0 | 0 | $0 |
| Gerrit Zalm | Director | Feb. 20, 2020 A | 2,794 | 0 | 0 | $0 |
| Darrell Duffie | Director | April 2, 2018 S | 21,944 | 0 | 0 | $0 |
| Ewald Kist | Director | Feb. 16, 2018 A | 28,179 | 0 | 0 | $0 |
| John K Wulff | Director | April 1, 2016 A | 38,396 | 0 | 0 | $0 |
| Nancy Newcomb | Director | Feb. 8, 2011 A | 21,546 | 0 | 0 | $0 |
| Cornelius Mcgillicudy III | Director | Feb. 8, 2011 A | 21,872 | 0 | 0 | $0 |
| Hall Adams JR | Director | March 10, 2004 A | 7,065 | 0 | 0 | $0 |
| Clifford L Alexander JR | Director | Dec. 10, 2003 A | — | 0 | 0 | $0 |
| Linda Huber | — | Aug. 6, 2018 P | 68,484 | 0 | 0 | $0 |
| Michel Madelain | — | June 1, 2016 F | 79,463 | 0 | 0 | $0 |
| Robert R Glauber | — | May 5, 2014 S | 24,637 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| MOODY’S CORPORATION, MOODY’S ANALYTICS MARYLAND CORP. | Sept. 10, 2018 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Jan. 10, 2013 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Aug. 24, 2011 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person | July 20, 2011 | — | Initial filing | Passive investment | SEC |
| Warren E. Buffett, Berkshire Hathaway Inc., OBH, Inc., National Indemnity Company, GEICO Corporation, Government Employees Insurance Company ×2 filings | July 22, 2009 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 205 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| KBWR · Invesco Exchange-Traded Fund Trust … | 4.58% | 5,160 NS | May 31, 2026 | N-PORT |
| OMAH · Tidal Trust III | 4.47% | 72,416 NS | April 30, 2026 | N-PORT |
| GFGF · EA Series Trust | 2.61% | 2,138 NS | May 29, 2026 | N-PORT |
| TOLL · Tema ETF Trust | 2.52% | 2,729 NS | May 31, 2026 | N-PORT |
| FGSI · First Trust Exchange-Traded Fund IV | 2.07% | 134 NS | April 30, 2026 | N-PORT |
| BCHP · Principal Exchange-Traded Funds | 2.06% | 9,907 NS | June 30, 2026 | N-PORT |
| BRIF · FIS Trust | 1.88% | 6,122 NS | May 31, 2026 | N-PORT |
| YOKE · EA Series Trust | 1.66% | 8,077 NS | April 30, 2026 | N-PORT |
| CAML · Professionally Managed Portfolios | 1.66% | 13,496 NS | April 30, 2026 | N-PORT |
| ESLG · Strategy Shares | 1.54% | 646 NS | April 30, 2026 | N-PORT |
| NULG · Nushares ETF Trust | 1.41% | 79,333 NS | April 30, 2026 | N-PORT |
| FMAG · FIDELITY COVINGTON TRUST | 1.30% | 7,136 NS | April 30, 2026 | N-PORT |
| ESLV · Strategy Shares | 1.20% | 306 NS | April 30, 2026 | N-PORT |
| ZECP · Zacks Trust | 1.08% | 8,124 NS | May 31, 2026 | N-PORT |
| ESUM · Strategy Shares | 0.98% | 3,259 NS | April 30, 2026 | N-PORT |
| DTEC · ALPS ETF Trust | 0.96% | 1,572 NS | May 31, 2026 | N-PORT |
| OUSA · ALPS ETF Trust | 0.96% | 15,655 NS | May 31, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 0.90% | 13,714 NS | May 31, 2026 | N-PORT |
| FNCL · FIDELITY COVINGTON TRUST | 0.88% | 42,038 NS | April 30, 2026 | N-PORT |
| NULC · Nushares ETF Trust | 0.71% | 874 NS | April 30, 2026 | N-PORT |
| FAS · Direxion Shares ETF Trust | 0.69% | 29,352 NS | April 30, 2026 | N-PORT |
| FQAL · FIDELITY COVINGTON TRUST | 0.64% | 18,833 NS | April 30, 2026 | N-PORT |
| UYG · ProShares Trust | 0.62% | 9,458 NS | May 31, 2026 | N-PORT |
| LCOW · Pacer Funds Trust | 0.54% | 268 NS | April 30, 2026 | N-PORT |
| KRMA · Global X Funds | 0.49% | 1,306 NS | May 31, 2026 | N-PORT |
| DUHP · Dimensional ETF Trust | 0.49% | 119,346 NS | April 30, 2026 | N-PORT |
| CARK · Advisors' Inner Circle Fund II | 0.47% | 3,166 NS | April 30, 2026 | N-PORT |
| RECS · Columbia ETF Trust I | 0.45% | 53,192 NS | April 30, 2026 | N-PORT |
| PALC · Pacer Funds Trust | 0.44% | 2,211 NS | April 30, 2026 | N-PORT |
| JSTC · Tidal Trust I | 0.43% | 3,166 NS | May 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.37% | 60,025 NS | April 30, 2026 | N-PORT |
| ACVF · ETF Opportunities Trust | 0.36% | 1,141 NS | April 30, 2026 | N-PORT |
| FEUS · FlexShares Trust | 0.36% | 855 NS | April 30, 2026 | N-PORT |
| GGUS · Goldman Sachs ETF Trust | 0.27% | 2,776 NS | May 31, 2026 | N-PORT |
| SNPG · DBX ETF Trust | 0.27% | 79 NS | May 29, 2026 | N-PORT |
| VEGN · ETF Series Solutions | 0.26% | 870 NS | April 30, 2026 | N-PORT |
| QLTY · GMO ETF Trust | 0.25% | 24,798 NS | May 31, 2026 | N-PORT |
| BFOR · ALPS ETF Trust | 0.24% | 1,153 NS | May 31, 2026 | N-PORT |
| SCHG · SCHWAB STRATEGIC TRUST | 0.24% | 325,733 NS | May 31, 2026 | N-PORT |
| QARP · DBX ETF Trust | 0.24% | 396 NS | May 29, 2026 | N-PORT |
| GSLC · Goldman Sachs ETF Trust | 0.23% | 79,325 NS | May 31, 2026 | N-PORT |
| OALC · Unified Series Trust | 0.23% | 1,220 NS | May 31, 2026 | N-PORT |
| IQSU · New York Life Investments ETF Trust | 0.21% | 1,463 NS | April 30, 2026 | N-PORT |
| MPLY · Strategy Shares | 0.21% | 60 NS | April 30, 2026 | N-PORT |
| CSM · ProShares Trust | 0.20% | 2,305 NS | May 31, 2026 | N-PORT |
| USSG · DBX ETF Trust | 0.20% | 2,499 NS | May 29, 2026 | N-PORT |
| GSEW · Goldman Sachs ETF Trust | 0.20% | 7,726 NS | May 31, 2026 | N-PORT |
| DFVX · Dimensional ETF Trust | 0.19% | 2,034 NS | April 30, 2026 | N-PORT |
| QRFT · Exchange Listed Funds Trust | 0.19% | 60 NS | April 30, 2026 | N-PORT |
| XMAG · Tidal Trust II | 0.19% | 587 NS | May 31, 2026 | N-PORT |