MCO earnings analysis — 8-K, guidance, statement tablesMoody's Corporation (MCO) 财报解读 — 8-K、量化指引、最新财务报表
Moody's Corporation Q2 2026 Earnings Follow-Up Analysis
Earnings Beat vs Consensus
Per the July 22, 2026 official press release and SEC Form 8-K filing, adjusted diluted EPS came in at $4.68, 9.9% above the consensus estimate of $4.26, while total revenue hit $2.20B, 4.7% above the $2.1B consensus estimate, with organic constant currency revenue growth of 15% year-over-year.
Revenue and Profitability Quality
Gross margin reached 76.3% in the quarter. Overall operating margin was 47.9%, up 480 bps YoY, with adjusted operating margin expanding 440 bps to 55.3%. By segment, Moody’s Investors Service (MIS) revenue rose 25% YoY, with adjusted operating margin up 410 bps to 68.3%; Moody’s Analytics (MA) revenue grew 4% YoY (8% organic constant currency), with adjusted operating margin up 150 bps to 33.6%. GAAP diluted EPS was $5.03, with net income of $878M and a 40.2% net margin.
Cash Flow and Capital Position
Quarterly operating cash flow was $779M, with year-to-date operating cash flow up 32% to $1.718B. Capital expenditures totaled $95M, resulting in free cash flow of $874M, with year-to-date free cash flow up 34% to $1.532B. Ending cash and equivalents were $1.5B, total debt $7.5B, and net debt $6.1B.
Guidance and Capital Returns
The company reaffirmed its full-year 2026 high-single-digit revenue growth guidance, narrowing the adjusted diluted EPS range from $16.40-$17.00 to $16.50-$17.00. Year-to-date share repurchases totaled $2.2B, with the full-year repurchase guidance raised to up to $3.0B; the board also declared a $1.03 per share quarterly dividend on July 21.
Unresolved Investor Questions
No earnings call transcript is available, and key metrics including segment backlog/RPO, deferred revenue, detailed capex usage, granular demand and pricing data, and full quarterly details from the 10-Q filing were not disclosed in the available materials.
穆迪公司2026年第二季度财报跟进分析
业绩超预期
基于2026年7月22日发布的官方新闻稿及SEC 8-K备案文件，公司二季度调整后摊薄每股收益（EPS）为4.68美元，超出市场一致预期的4.26美元（+9.9%）；营收达22.0亿美元，超出预期的21.0亿美元（+4.7%），按固定汇率口径的有机营收增长15%。
营收与盈利质量
二季度整体毛利率76.3%，营业利润率47.9%（同比提升480个基点），调整后营业利润率55.3%（同比提升440个基点）。分板块看，穆迪投资者服务（MIS）营收同比增长25%，调整后营业利润率提升410个基点至68.3%；穆迪Analytics（MA）营收同比增长4%，固定汇率有机增长8%，调整后营业利润率提升150个基点至33.6%。GAAP摊薄EPS为5.03美元，净利润8.78亿美元，净利润率40.2%。
现金流与资本状况
季度内经营现金流7.79亿美元，年初至今经营现金流同比增长32%至17.18亿美元；资本支出9500万美元，自由现金流8.74亿美元，年初至今自由现金流同比增长34%至15.32亿美元。期末现金及现金等价物15亿美元，总债务75亿美元，净债务61亿美元。
指引与资本回报
公司重申2026年全年营收高个位数增长指引，将调整后摊薄EPS指引从此前的16.40-17.00美元收窄至16.50-17.00美元。年初至今已回购22亿美元股票，将全年回购指引上调至至多30亿美元，7月21日宣布季度股息1.03美元/股。
未明确信息
暂无业绩电话会议文字记录，未披露板块订单储备、递延收入、资本支出详细用途、细分需求与定价数据，以及10-Q文件中的季度详细财务明细。
This analysis was generated by InvestLog AI based on SEC filings, Form 4 insider transactions, Form 144 planned-sale notices, 13F institutional holdings, analyst ratings, and market data. It is for informational purposes only and does not constitute investment advice.这篇研究由 InvestLog AI 基于 SEC 披露、Form 4 内部人交易、Form 144 计划减持、13F 机构持仓、分析师评级和市场数据生成。内容仅供参考，不构成投资建议。