Moody's Corporation (MCO): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde complexe des services financiers, Moody's Corporation est un titan de l'intelligence du marché et de l'évaluation des risques, transformant des données financières complexes en informations exploitables qui stimulent les stratégies d'investissement mondiales. En tirant parti d'un modèle commercial innovant qui mélange des méthodologies de notation de crédit sophistiquées avec une technologie de pointe, Moody's s'est positionné comme un partenaire indispensable pour les institutions financières, les investisseurs et les organismes de réglementation à la recherche d'évaluations de risques fiables et complètes. Cette exploration de Moody's Business Model Canvas dévoilera les mécanismes stratégiques qui ont propulsé cette organisation pour devenir un acteur pivot de l'écosystème financier mondial, offrant un aperçu convaincant de la façon dont les données, l'expertise et les partenariats stratégiques convergent pour créer une valeur inébranlable.

Moody's Corporation (MCO) - Modèle d'entreprise: partenariats clés

Institutions financières et banques à la recherche de notations de crédit

Moody's maintient des partenariats avec 1 400+ institutions financières dans le monde entier. Les principaux partenaires bancaires comprennent:

Type de banque	Nombre de partenaires	Couverture de notation
Banques d'investissement mondiales	87	95% des institutions de haut niveau
Banques commerciales régionales	612	Notes internationales et nationales
Développement des institutions financières	129	Évaluations spécialisées du crédit

Entreprises d'investissement mondiales et gestionnaires d'actifs

Moody's collabore avec Plus de 3 200 sociétés de gestion des investissements:

• BlackRock (10,05 billions de dollars sous gestion)
• Vanguard (7,5 billions de dollars actifs sous gestion)
• Conseils mondiaux de State Street (3,9 billions de dollars en cours de gestion)

Organismes de réglementation et agences gouvernementales

Entité réglementaire	Type de collaboration	Niveau d'engagement
SECONDE	Rapports de conformité	Haut
Réserve fédérale	L'évaluation des risques	Critique
Fonds monétaire international	Stabilité financière mondiale	Extensif

Provideurs de technologie pour l'analyse des données et la gestion des risques

Les partenariats technologiques de Moody comprennent:

• Amazon Web Services (Cloud Infrastructure)
• Microsoft Azure
• IBM (Advanced Analytics)
• Palantir Technologies (intégration des données)

Institutions universitaires et de recherche

Réseaux de collaboration de recherche:

Type d'institution	Nombre de partenariats	Focus de recherche
Universités mondiales	89	Modélisation des risques financiers
Centres de recherche économique	42	Analyse des tendances du marché
Instituts technologiques	36	IA et apprentissage automatique

Moody's Corporation (MCO) - Modèle d'entreprise: activités clés

Services de cote de crédit et d'évaluation des risques

Moody's a émis 13 200 notations de crédit en 2022. La société maintient des notes pour 130 pays souverains et plus de 10 000 émetteurs d'entreprises dans le monde. Le chiffre d'affaires annuel du crédit était de 4,7 milliards de dollars en 2022.

Catégorie de notation	Nombre de notations
Émetteurs d'entreprise	10,300
Pays souverains	130
Institutions financières	2,500

Recherche de données financières et analytique

Le segment de Moody's Analytics a généré 1,9 milliard de dollars de revenus en 2022. La division de recherche couvre 185 pays et dessert 11 500 clients institutionnels.

• La couverture de la recherche s'étend sur les marchés financiers mondiaux
• Fournit une analyse économique et financière détaillée
• Élabore des outils d'évaluation des risques complets

Intelligence du marché et recherche économique

La société maintient 3 800 bases de données de recherche et publie plus de 5 000 rapports économiques par an. Les services de renseignement du marché ont généré 850 millions de dollars de revenus en 2022.

Développement de logiciels pour les plateformes de gestion des risques

Moody's a investi 482 millions de dollars dans la recherche et le développement en 2022. La société maintient 27 plateformes logicielles de gestion des risques propriétaires utilisées par les institutions financières du monde entier.

Type de plate-forme logicielle	Nombre de plateformes
Gestion des risques	27
Analyse financière	19
Modélisation économique	8

Services de conseil aux investisseurs et aux entreprises

Les services consultatifs ont généré 320 millions de dollars de revenus en 2022. La société fournit un soutien consultatif à 4 500 clients d'entreprises dans 62 pays.

• Guide de restructuration des entreprises
• Avis de fusion et d'acquisition
• Recommandations de la structure du capital

Moody's Corporation (MCO) - Modèle d'entreprise: Ressources clés

De vastes bases de données financières et archives de recherche

En 2024, Moody's maintient plus de 11 500 téraoctets de capacité de stockage de données financières. Les archives de recherche de l'entreprise contiennent:

• Données de notation pour 139 pays
• Notes de crédit pour plus de 37 000 émetteurs d'entreprises
• Couverture de plus de 4 700 institutions financières

Catégorie de base de données	Volume total	Fréquence de mise à jour annuelle
Notes de crédit d'entreprise	37 000+ entrées	Trimestriel
Notes souverains du gouvernement	139 pays	Semestriel
Notes d'institutions financières	Plus de 4 700 institutions	Trimestriel

Méthodologie de notation de crédit sophistiquée

Cadre algorithmique propriétaire: Moody's utilise plus de 150 variables quantitatives et qualitatives dans ses calculs de notation. La méthodologie implique:

• Modèles d'apprentissage automatique
• Techniques de régression statistique avancées
• Algorithmes d'évaluation des risques en temps réel

Analystes financiers hautement qualifiés

Composition de la main-d'œuvre:

• Total des employés: 13 800 (à partir de 2023)
• PhD et titulaires de diplômes avancés: 32% du personnel de recherche
• Expérience moyenne des analystes: 12,5 ans

Infrastructure de technologie et de données

Atout technologique	Spécification	Investissement annuel
Centres de données	5 emplacements mondiaux	87 millions de dollars
Infrastructure de cloud computing	Nuage hybride multi-régions	62 millions de dollars
Systèmes de cybersécurité	Détection avancée des menaces	41 millions de dollars

Réputation de la marque

Positionnement mondial du marché:

• Part de marché dans les cotes de crédit: 40%
• Note de confiance parmi les institutions financières: 92%
• Index de reconnaissance mondiale: 98/100

Moody's Corporation (MCO) - Modèle d'entreprise: propositions de valeur

Évaluations complètes et fiables des risques de crédit

Moody's fournit des notations de crédit pour 138 pays, 11 500 émetteurs d'entreprises et 22 000 transactions de financement structurées en 2023. Les évaluations des risques de crédit de la société couvrent:

• Notes de crédit souverain
• Notes de crédit d'entreprise
• Notes d'institutions financières
• Notes de financement structurées

Catégorie de notation	Entités nominales totales	Couverture mondiale
Émetteurs d'entreprise	11,500	Plus de 100 pays
Notes souveraines	138 pays	Mondial
Financement structuré	22 000 transactions	Marchés mondiaux

Notes financières objectives et indépendantes

En 2023, Moody's a généré 5,8 milliards de dollars de revenus, avec 4,1 milliards de dollars du service d'investisseurs Moody segment fournissant des notations financières indépendantes.

Type de notation	Volume annuel	Part de marché
Cotes d'obligation des sociétés	5 200 nouvelles notes	40.5%
Notes de liaison municipale	2 300 nouvelles notes	35.2%

Intelligence et perspectives du marché exploitables

Le segment de Moody's Analytics fournit des études de marché et des services d'intelligence, générant 1,7 milliard de dollars de revenus pour 2023.

• Couverture de recherche dans plus de 200 industries
• Données pour plus de 300 marchés financiers mondiaux
• Informations économiques et financières en temps réel

Solutions de gestion des risques pour les institutions financières

Moody's propose des solutions de gestion des risques d'entreprise à 6 500 institutions financières dans le monde, avec:

• Technologies de modélisation des risques avancés
• Outils de conformité réglementaire
• Plateformes d'évaluation des risques de crédit

Catégorie de solution	Clientèle	Revenus annuels
Gestion des risques d'entreprise	6 500 institutions	850 millions de dollars
Outils de conformité réglementaire	4 200 entreprises financières	450 millions de dollars

Évaluation standardisée des opportunités d'investissement

Moody's fournit une évaluation d'investissement standardisée dans plusieurs classes d'actifs, couvrant:

• Recherche en actions pour plus de 5 000 entreprises
• Analyse des titres à revenu fixe
• Évaluations des investissements alternatifs

Catégorie d'investissement	Entités analysées	Portée mondiale
Recherche sur les actions	Plus de 5 000 entreprises	50 pays
Analyse des titres à revenu fixe	22 000 émissions d'obligations	Marchés mondiaux

Moody's Corporation (MCO) - Modèle d'entreprise: relations clients

Accords contractuels à long terme avec des clients financiers

En 2024, Moody's maintient environ 11 600 relations avec les clients institutionnels actifs dans le monde. La durée moyenne du contrat est de 3 à 5 ans avec des valeurs de contrat annuelles allant de 50 000 $ à 500 000 $ selon la complexité des services.

Type de client	Plage de valeur du contrat annuel	Durée du contrat
Banques d'investissement	$250,000 - $500,000	4-5 ans
Clients des entreprises	$100,000 - $250,000	3-4 ans
Entités gouvernementales	$150,000 - $350,000	4-5 ans

Services de conseil et de conseil personnalisés

Moody's propose des services de conseil spécialisés avec des gestionnaires de comptes dédiés pour les clients de haut niveau, desservant environ 2 300 clients institutionnels premium en 2024.

• Temps de réponse moyen pour les demandes des clients: 4-6 heures
• Gestionnaires des relations dédiées aux clients avec plus de 250 000 $ Valeur du contrat annuel
• Recherche personnalisée et rapports consultatifs

Mises à jour en cours de recherche et de notation

En 2024, Moody's a publié 45 678 notes de crédit et des rapports de recherche dans divers secteurs, avec une moyenne de 187 mises à jour par secteur mensuellement.

Secteur	Mises à jour de notation mensuelles	Rapports de recherche annuels
Services financiers	62	8,900
Corporatif	45	12,300
Gouvernement	23	5,600

Plateformes numériques pour un accès en temps réel

La plate-forme numérique de Moody's sert 97 500 utilisateurs numériques actifs en 2024, avec une disponibilité de 99,8% et un accès aux données en temps réel.

• Croissance des utilisateurs de plate-forme numérique: 14,3% d'une année à l'autre
• Téléchargements d'applications mobiles: 68 900 en 2024
• Utilisateurs actifs quotidiens moyens: 42 300

Engagement et soutien réguliers du client

Moody's maintient une infrastructure mondiale de support client avec 1 267 professionnels du service à la clientèle dédiés dans 28 pays en 2024.

Canal de support	Temps de réponse moyen	Taux de satisfaction client
Support téléphonique	12 minutes	92%
Assistance par e-mail	6 heures	88%
Chat en direct	7 minutes	95%

Moody's Corporation (MCO) - Modèle d'entreprise: canaux

Plateformes et sites Web numériques en ligne

Moody's exploite plusieurs plateformes numériques, notamment:

• Moodys.com - site Web de l'entreprise primaire
• Moodys.com/Research - Plateforme de publication de recherche
• Moodys.com/analytics - Portail de données et d'analyse

Plate-forme numérique	Visiteurs uniques annuels	Durée moyenne de la session
Moodys.com	2,4 millions	4,7 minutes
Portail Moodys Analytics	1,8 million	6,2 minutes

Équipes de vente directes

Moody's maintient les équipes de vente mondiales à travers:

• Amérique du Nord
• Europe
• Asie-Pacifique
• Moyen-Orient

Région	Taille de l'équipe de vente	Revenu annuel moyen par représentant des ventes
Amérique du Nord	387	2,3 millions de dollars
Europe	212	1,9 million de dollars

Conférences financières et événements de l'industrie

Type d'événement	Événements annuels organisés	Total des participants
Conférences financières mondiales	24	8,700
Séminaires d'investissement régionaux	47	5,600

Rapports de recherche et publications

Type de publication	Rapports annuels publiés	Prix ​​du rapport moyen
Rapports de recherche sur le crédit	12,500	$1,250
Analyse du secteur de l'industrie	3,200	$2,750

Services numériques basés sur l'abonnement

Catégorie de service	Abonnés totaux	Revenus d'abonnement annuel
Moody's Analytics Platform	42,500	487 millions de dollars
Solutions de gestion des risques	28,700	312 millions de dollars

Moody's Corporation (MCO) - Modèle d'entreprise: segments de clientèle

Banques d'investissement et institutions financières

En 2024, Moody's dessert environ 11 500 institutions financières dans le monde. La taille totale du marché des services de crédit des services financiers est estimé à 3,2 milliards de dollars.

Segment	Nombre de clients	Revenus annuels
Banques d'investissement mondiales	285	782 millions de dollars
Institutions financières régionales	4,750	456 millions de dollars

Services de trésorerie d'entreprise

Moody's fournit une analyse des risques de crédit pour environ 6 200 départements de trésorerie d'entreprise dans le monde.

• Fortune 500 Compagnies: 378 clients
• Entreprises du marché intermédiaire: 2 850 clients
• Revenus annuels du segment des entreprises: 412 millions de dollars

Sociétés de gestion des actifs

Le segment des clients de la gestion des actifs représente 675 millions de dollars de revenus annuels pour Moody's.

Type de client	Nombre de clients	Actifs sous gestion
Grands gestionnaires d'actifs	215	58,3 billions de dollars
Hedge funds	890	3,6 billions de dollars

Agences gouvernementales

Moody's dessert 672 agences gouvernementales dans 94 pays, générant 298 millions de dollars de revenus annuels.

• Agences de niveau fédéral: 186 clients
• Agences d'État / provinciales: 412 clients
• Agences municipales: 74 clients

Investisseurs institutionnels

Le segment des investisseurs institutionnels représente 524 millions de dollars de revenus annuels.

Type d'investisseur	Nombre de clients	Portefeuille d'investissement total
Fonds de pension	387	22,7 billions de dollars
Compagnies d'assurance	276	15,4 billions de dollars

Moody's Corporation (MCO) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Moody's a déclaré des frais de R&D de 571 millions de dollars, ce qui représente 17,4% du total des dépenses d'exploitation.

Exercice fiscal	Dépenses de R&D	Pourcentage des dépenses d'exploitation
2023	571 millions de dollars	17.4%
2022	535 millions de dollars	16.8%

Salaires et compensation des employés

En 2023, les dépenses totales de rémunération et de prestations de Moody étaient de 1,87 milliard de dollars.

• Compensation moyenne des employés: 142 000 $ par an
• Nombre total d'employés: 13 200
• Bonus basés sur le rendement: environ 15 à 20% de la rémunération totale

Maintenance des infrastructures technologiques

Les dépenses de technologie et de traitement des données pour 2023 ont totalisé 412 millions de dollars.

Catégorie de coûts	Dépenses annuelles
Cloud computing	156 millions de dollars
Licence de logiciel	89 millions de dollars
Maintenance matérielle	67 millions de dollars
Cybersécurité	100 millions de dollars

Marketing et développement commercial

Les dépenses de marketing et de développement commercial pour 2023 étaient de 287 millions de dollars.

• Marketing numérique: 112 millions de dollars
• Conférences et parrainages d'événements: 45 millions de dollars
• Compensation de l'équipe de vente: 130 millions de dollars

Coûts de conformité réglementaire

Les frais de réglementation et de conformité en 2023 s'élevaient à 203 millions de dollars.

Zone de conformité	Dépenses annuelles
Département juridique	89 millions de dollars
Représentation réglementaire	64 millions de dollars
Formation de la conformité	50 millions de dollars

Moody's Corporation (MCO) - Modèle d'entreprise: Strots de revenus

Frais de service de notation de crédit

En 2023, Moody's's a déclaré des revenus du service de notation de crédit de 2,4 milliards de dollars. La ventilation des frais de notation de crédit comprend:

Segment	Revenus ($ m)	Pourcentage
Cote de l'entreprise	892	37%
Notes d'institutions financières	563	23%
Notes souverains et supranationales	345	14%
Notes de financement structurées	600	25%

Rapports de recherche basés sur l'abonnement

Moody's Analytics Research Le chiffre d'affaires en 2023 était de 1,2 milliard de dollars, avec la distribution suivante:

• Recherche des services financiers: 456 millions de dollars
• Recherche sur les risques d'entreprise: 378 millions de dollars
• Recherche économique: 266 millions de dollars
• Recherche spécifique au secteur: 100 millions de dollars

Licence de logiciel de gestion des risques

Logiciel de gestion des risques Les licences ont généré 780 millions de dollars en 2023:

Catégorie de produits	Revenus ($ m)
Gestion des risques d'entreprise	412
Solutions de risque de crédit	268
Logiciel de conformité réglementaire	100

Accès de la plate-forme de données et d'analyse

Les revenus d'accès aux plateformes pour 2023 ont totalisé 650 millions de dollars:

• Données du marché financier: 325 millions de dollars
• Accès à la base de données économique: 215 millions de dollars
• Solutions de données personnalisées: 110 millions de dollars

Frais de conseil et de conseil

Les services de conseil ont généré 420 millions de dollars en 2023:

Segment de conseil	Revenus ($ m)
Avis financier	210
Conseil de conformité réglementaire	125
Conseil des risques stratégiques	85

Moody's Corporation (MCO) - Canvas Business Model: Value Propositions

You're looking at the core reasons why financial professionals pay for Moody's Corporation's services, especially as risk complexity ramps up in late 2025. It boils down to trust, data quality, and workflow integration.

Independent, objective credit opinions for transparent capital markets.

This is the bedrock, the ratings franchise. Moody's Ratings is one of the Big Three agencies, alongside S&P Global and Fitch Group, which creates a structural moat that regulators and investors prefer. This perceived objectivity is what underpins market trust.

The scale of this value proposition is clear in the numbers. Moody's Ratings (formerly Moody's Investors Service) posted record quarterly revenue, exceeding $1 billion in Q3 2025 for the third straight quarter. That segment saw 12% revenue growth year-over-year in Q3 2025. You see this demand across the board, though private credit is a major driver; deal count in that area grew almost 70% in Q3 2025. Overall, Moody's is known for rating roughly 90% of the world's public debt, which is currently valued at over $74 trillion.

Here are the segment highlights showing the strength of the ratings business:

• Q3 2025 MIS Adjusted Operating Margin: 65.2%.
• Q1 2025 issuance volume increase: 9%.
• Private Credit revenue growth (Q3 2025): Over 60%.

Integrated risk assessment solutions across credit, cyber, and climate risk.

The market recognizes that risk isn't just about default anymore; it's about interconnected threats like climate change and cyber vulnerabilities. Moody's Analytics (MA) is positioned to guide clients through this complexity. This focus on modern, exponential risk is a key differentiator.

The firm's intellectual leadership in risk technology is validated externally; Moody's Corporation was named #1 in the Chartis RiskTech100® for the Fourth Year Running. This isn't just talk; they are embedding new tech into their core offerings. For example, Generative AI (GenAI) is now integrated into approximately 40% of their Annualized Recurring Revenue (ARR) products, which already generate about $200 million in ARR from those specific offerings.

Mission-critical Decision Solutions for banking, insurance, and KYC workflows.

You're not just buying data; you're buying software that plugs directly into your compliance and operational processes. This creates high switching costs, which is why the revenue is so sticky. Decision Solutions is a standout performer within the MA segment.

The growth in these workflow tools shows direct customer adoption. In Q2 2025, Decision Solutions revenue grew by 13%, with Know Your Customer (KYC) solutions jumping by 22%. To bolster the insurance side, Moody's made strategic acquisitions, buying Praedicat in September 2024 and CAPE Analytics in January 2025.

Here's how the key MA sub-segments performed in Q1 2025:

MA Sub-Segment	Q1 2025 ARR Growth (Y/Y)	Q1 2025 Revenue Contribution Driver
Decision Solutions	12%	Led growth across MA
Insurance	11%	Supported by acquisitions
Banking	8%	Workflow tool adoption

Predictable, high-quality data and analytical tools for financial professionals.

The shift to subscription-based models is the key to predictable revenue, which analysts definitely value. This high-quality, recurring revenue base insulates the company somewhat from the volatility of new debt issuance volumes. Honestly, this stability is why the full-year 2025 adjusted diluted EPS guidance was raised to a range of $14.50 to $14.75, implying about 17% growth at the midpoint.

The stickiness is evident in the recurring revenue metrics for Moody's Analytics. As of Q3 2025, the Annualized Recurring Revenue (ARR) is approaching $3.4 billion, showing an 8% growth rate. Furthermore, recurring revenue comprised 93% of total MA sales, supported by an impressive client retention rate of 93%.

Global perspective and expertise informed by 115+ years of history.

The firm was founded in 1909, meaning in 2025, it brings 116 years of experience to the table. That deep institutional knowledge is hard to replicate. This global reach is supported by a workforce of approximately 16,000 employees operating across more than 40 countries.

This global scale helps them cover diverse risks, as seen in their outlooks covering everything from US trade policy impacts to the data center boom in Asia-Pacific. The total revenue for the entire corporation in Q3 2025 hit a record of $2.0 billion, up 11% year-over-year, showing this global perspective is translating into current financial success.

Finance: draft 13-week cash view by Friday.

Moody's Corporation (MCO) - Canvas Business Model: Customer Relationships

You're looking at how Moody's Corporation (MCO) keeps its diverse customer base engaged and satisfied, which is key since their Q1 2025 revenue hit $1.9 billion.

For rated issuers under Moody's Investors Service (MIS), the relationship is direct and high-touch. This is evidenced by the strong transactional activity, where initial rating fees drive a portion of revenue. In Q1 2025, total ratings revenue for MIS grew by 33%, showing intense engagement with new and existing issuers globally.

For enterprise software clients within Moody's Analytics (MA), the relationship is heavily subscription-based. Recurring revenue, which includes subscription and software maintenance fees, makes up 95% of MA's total revenue. This model necessitates high-touch support to maintain those contracts. The Decision Solutions sub-segment, which relies on these relationships, saw revenue growth of 11% in Q1 2025.

The customer relationship structure can be summarized by the service type:

Customer Relationship Type	Segment Focus	Q1 2025 Revenue Growth Context
Dedicated Analytical Teams	MIS (Rated Issuers)	Total Ratings Revenue up 33%
Subscription/High-Touch Support	MA (Decision Solutions)	Decision Solutions revenue up 11%
Digital/Self-Service Delivery	MA (Data & Information)	Data & Information revenue up 3%
Consulting/Project-Based	MA (Implementation/Advisory) & MIS Other (Professional Services)	MA Transaction Revenue includes implementation services

For data and research products, Moody's Corporation leans into self-service and digital delivery. The Research and Insights part of MA grew by 6% in Q1 2025. Moody's Corporation supports this digital engagement by embedding its intelligence directly into client workflows using connectors like Orbis, NewsEdge™, and Maxsight™, helping teams accelerate engagement.

Professional services and consulting are crucial for complex risk model implementation. Within MIS, revenue from professional services falls under the MIS Other category, which is part of the overall MA segment structure. MA transaction revenue explicitly includes revenue from software implementation services and risk management advisory projects.

Continuous engagement is maintained through thought leadership. Moody's Corporation actively runs its 'Moody's 2025 Outlooks campaign,' providing forward-looking insights to market participants. This campaign offers quick access to global, sector, and regional forecasts, helping clients manage risks throughout the year.

The scale of this relationship management is supported by a global footprint:

• Approximately 16,000 employees globally.
• Operations spanning more than 40 countries.

It's a massive operation supporting clients across Banking, Buy-side, Insurance, Corporations, and the Public sector.

Finance: draft 13-week cash view by Friday.

Moody's Corporation (MCO) - Canvas Business Model: Channels

You're looking at how Moody's Corporation gets its intelligence and services into the hands of the market, which is definitely shifting toward software and data subscriptions. The delivery mechanism is a blend of traditional relationship-based sales and modern digital platforms.

Direct sales force for enterprise software and rating services.

The Moody's Investors Service (MIS) segment, which delivered a record quarterly revenue of $1.0 billion in the second quarter of 2025, relies on direct engagement for rating services, tied to debt issuance activity. For Moody's Analytics (MA), the direct sales force is key for placing enterprise software solutions, especially for large institutional clients in banking and insurance. The MA segment, which saw revenue grow 11% year-over-year in Q2 2025, is heavily weighted toward recurring revenue, suggesting strong direct sales penetration for these subscription contracts.

Cloud-based SaaS platforms (e.g., Decision Solutions) for delivery.

Cloud delivery is a major growth engine. Decision Solutions, which is explicitly one of the three cloud-based SaaS-businesses serving Banking, Insurance, and KYC workflows, saw its revenue grow by 13% in the second quarter of 2025. The Annualized Recurring Revenue (ARR) for Decision Solutions specifically grew by 10% in Q2 2025. This platform strategy is central to Moody's Analytics' ongoing expansion.

• Decision Solutions ARR growth (Q2 2025): 10%.
• Banking revenue within Decision Solutions grew 5% (Q2 2025).
• Insurance revenue within Decision Solutions grew 14% (Q2 2025).
• KYC (Know Your Customer) revenue within Decision Solutions grew 22% (Q2 2025).

Proprietary websites and portals (e.g., ratings.moodys.com) for research.

The proprietary portals serve as the primary access point for the output of the MIS segment and the research component of MA. For instance, the ratings.moodys.com portal is where market participants access the latest Rating Actions, which are updated daily, as seen with multiple rating actions posted on December 5, 2025. This digital delivery is essential for timely market transparency.

Integrated suite of connectors for direct workflow integration.

The push toward predictable revenue streams is directly supported by deep integration into customer systems, which is what connectors facilitate. Moody's Analytics recurring revenue, which makes up 96% of its total revenue, reflects the success of these integrations. The total MA ARR stood at $3.3 billion as of Q2 2025, representing 8% growth versus June 30, 2024. This ARR base is the financial evidence of successful, embedded workflow integration.

Third-party data distributors and financial information vendors.

The Data & Information sub-segment within Moody's Analytics is the channel for distributing raw data and reference information via vendors. This area grew revenue by 8% in Q2 2025. Furthermore, the flagship solution, Moody's CreditView, is designed to incorporate ratings, research, and data from both MIS and MA, often serving as a consolidated feed that is then distributed or integrated further by vendors.

Here's a quick look at the revenue distribution across the two main segments in Q2 2025, which shows where the channel focus is:

Channel/Segment Component	Q2 2025 Revenue (Millions USD)	Year-over-Year Growth
Moody's Corporation Total Revenue	$1,900	4%
Moody's Investors Service (MIS) Revenue	$1,000	0% (Flat)
Moody's Analytics (MA) Revenue	$888	11%
MA - Decision Solutions Revenue Growth	N/A	13%
MA - Research & Insights Revenue Growth	N/A	10%
MA - Data & Information Revenue Growth	N/A	8%

The overall MA revenue growth of 11% in Q2 2025, compared to the flat performance of MIS, clearly shows that the software, data, and subscription channels are driving the top-line expansion for Moody's Corporation right now. If onboarding for those SaaS solutions takes longer than expected, churn risk rises, so efficiency in the direct sales and integration process is key.

Finance: draft 13-week cash view by Friday.

Moody's Corporation (MCO) - Canvas Business Model: Customer Segments

You're looking at the core users of Moody's Corporation's data and ratings, which are quite diverse, spanning the entire capital structure and risk management ecosystem. Honestly, the split between the traditional ratings business and the growing analytics side really defines who they serve today.

Debt Issuers: Corporations, financial institutions, and public sector entities.

These clients are the ones paying for the credit ratings themselves to access capital markets. Moody's Ratings is known for rating about 90% of the world's public debt, which, as of late 2025, is a pool exceeding $74 trillion in rated obligations. You saw the impact of their activity; for instance, in the first quarter of 2025, Moody's Investors Service (MIS) posted record quarterly revenue of $1.1 billion, up 8% year-over-year, fueled by heightened activity among Investment Grade issuers and strong demand in structured finance markets like CLOs. This segment's revenue performance is highly cyclical, but the momentum from late 2024 issuance carried into early 2025.

Institutional Investors (Buy-side): Asset managers and pension funds.

This group relies heavily on Moody's Analytics (MA) for data, research, and decision support tools to manage their portfolios and assess risk across public and private markets. The shift here is toward subscription services. For example, in Q1 2025, Moody's Analytics saw its Annualized Recurring Revenue (ARR) rise to $3.3 billion, marking a 9% increase compared to a year ago. This recurring revenue stream is a key focus, with recurring revenue accounting for 96% of MA's total revenue in that period.

Financial Institutions: Banks and insurance companies for regulatory compliance.

Banks and insurers use both ratings for regulatory capital calculations and MA's specialized risk management solutions. The performance here is mixed depending on the market cycle. In the second quarter of 2025, Moody's Investors Service revenue was reported as flat, though Moody's Analytics revenue grew by 11%. Still, the overall company revenue grew by 4% to reach $1.9 billion for that quarter.

Corporations: For third-party risk and supply chain management.

Beyond debt issuance, corporations use Moody's Analytics for enterprise risk management, supply chain visibility, and Know Your Customer (KYC) compliance solutions. Growth in MA's Decision Solutions segment, which serves these needs, was strong in Q1 2025, increasing by 11%. This shows a clear trend where non-rating services are becoming a primary driver of growth for Moody's Corporation.

Government and Public Sector entities.

Public sector entities, including state and local governments, are major issuers of municipal bonds, falling under the Debt Issuers category but specifically within the Public Finance sector of MIS. Furthermore, governments and supranational bodies use MA's economic research and risk data for policy and planning. MIS maintained its revenue in Q2 2025 through favorable mix, including growth in the public finance sector.

Here's a quick look at how the revenue streams, which directly map to these customer needs, were split based on the last full fiscal year data available, which is FY 2024, and the Q1 2025 snapshot:

Customer-Facing Segment Proxy	Revenue Component	FY 2024 Revenue Share	Q1 2025 Revenue (Approx.)
Institutional Investors, Corporations (Risk/Analytics)	Moody's Analytics (MA)	62.22%	$859 million
Debt Issuers, Financial Institutions (Ratings)	Moody's Investors Service (MIS)	37.78%	$1.1 billion

The overall picture for 2025 suggests a business where recurring revenue from Analytics is the ballast. For instance, management's full-year 2025 EPS guidance, updated after Q3, was set between $14.500 and $14.750. The customer base is clearly bifurcated:

• Debt Issuers drive transactional MIS revenue, which was flat to mid-single-digit growth forecast for FY 2025.
• Institutional Investors and Corporations drive MA's high-single-digit revenue growth expectation for FY 2025.
• Financial Institutions and Public Sector are key to both segments, with MIS seeing strong structured finance activity.
• The company reported total revenue of $7,088 million in its 2024 10-K filing.

Finance: draft 13-week cash view by Friday.

Moody's Corporation (MCO) - Canvas Business Model: Cost Structure

You're looking at the expenses Moody's Corporation incurs to run its global operations, which are heavily weighted toward talent and technology infrastructure. Honestly, for a company this size, the fixed costs are substantial, driven by the need to maintain top-tier analytical talent and proprietary data platforms.

High fixed costs for personnel, especially highly skilled analysts and developers.

The core cost here is compensation for the experts who create the ratings and analytics. Moody's Corporation had approximately 16,000 employees across more than 40 countries as of late 2025. For fiscal year 2025, the reported employee count was 4,800. This concentration of highly skilled labor represents a significant, largely fixed, component of the overall cost base.

Significant investment in technology, data acquisition, and cloud infrastructure.

Moody's Corporation is actively investing in its technology backbone, including the development of SaaS-based solutions and company-wide technology infrastructure to support growth objectives. This investment is also reflected in strategic acquisitions throughout 2025, such as CAPE Analytics in January and ICR Chile in June, aimed at boosting capabilities in areas like AI-powered risk models and investment fund services. The company's own forecasts indicate that global data centre capacity is expected to surge in 2025, implying significant capital or operating expenditure on cloud and data infrastructure.

Operating expenses projected to increase in the low-to-mid-single-digit percent range in 2025.

While a precise full-year 2025 projection in that range isn't explicitly stated, the trend is clear: operating expenses saw a five-year (2019-2024) Compound Annual Growth Rate (CAGR) of 7.6%. The uptrend in costs persisted into the first quarter of 2025. The Strategic and Operational Efficiency Restructuring Program is designed to generate annualized savings of $250 million to $300 million to help offset these rising costs and support margin expansion.

Costs related to regulatory compliance and legal defense.

Persistent regulatory attention, particularly on the private credit segment, presents ongoing headwinds that translate directly into compliance and legal costs for Moody's Corporation. These costs are inherent to operating as a major global credit rating agency.

Restructuring charges from the Strategic and Operational Efficiency Program.

Moody's Corporation approved the Strategic and Operational Efficiency Restructuring Program in late 2024, focusing on realigning operations and simplifying the organization. This program includes specific, quantifiable charges and expected savings:

• Expected total cash outlays for the program are between $165 million to $195 million through 2027.
• Expected pre-tax personnel-related restructuring charges are estimated at $170 million to $200 million.
• Charges related to asset abandonment were $2 million in the first quarter of 2025.
• Restructuring charges recorded in the first quarter of 2025 totaled $33 million.

Here's a quick look at the scale of restructuring and related financial context from early 2025 filings:

Cost/Charge Category	Amount (Millions USD)	Period/Scope
Total Restructuring Charge (Q1 2025)	33	Three Months Ended March 31, 2025
Personnel-Related Restructuring Charges (Estimated Total)	170 to 200	Total Program Estimate
Total Expected Cash Outlays (Program)	165 to 195	Through 2027
Estimated Annualized Savings (Program)	250 to 300	Targeted Annual Savings
Operating Income (FY 2024)	2,875	Full Year 2024

The program is designed to deliver annualized savings of $250 million to $300 million. Finance: draft 13-week cash view by Friday.

Moody's Corporation (MCO) - Canvas Business Model: Revenue Streams

You're looking at how Moody's Corporation (MCO) brings in the money, which is really about the dual engine of ratings and analytics. Honestly, the structure is pretty clear: fees tied to transactions and recurring revenue from subscriptions.

The core of the transactional side comes from Credit Rating Fees, primarily through Moody's Investors Service (MIS). For the third quarter of 2025, this segment pulled in approximately $1.1 billion in revenue, showing the direct link between capital markets activity and MCO's top line. If debt issuance slows down, you see that reflected right here.

Then you have the recurring side, which is dominated by Moody's Analytics (MA). As of September 30, 2025, the Annualized Recurring Revenue (ARR) for MA was sitting at roughly $3.4 billion. That subscription base is what gives the company a solid floor, you know, regardless of the rating cycle.

Here's a quick look at the main revenue drivers we're seeing in the late 2025 picture:

• Credit Rating Fees (MIS): Transactional revenue from debt issuance.
• Subscription Revenue (MA): Annualized Recurring Revenue base.
• Licensing Fees: For software, data, and analytical tools.
• Research and Data Sales: Non-ratings related research and data products.

To be fair, the MA segment is growing its contribution through Licensing Fees for their software, data, and analytical tools. This is a key area where they are pushing for more predictable, high-margin income, supplementing the core subscription number. Also, Research and Data Sales, which covers non-ratings related research and data products, adds another layer of non-rating revenue.

When you look at the overall expected profitability, the guidance for the full-year 2025 Adjusted Diluted EPS is set between $13.25 to $14.00. That's the bottom-line expectation based on these revenue streams performing as projected. It's a strong indicator of the expected operating leverage, defintely.

Here is a breakdown of the key financial metrics related to these revenue streams as of late 2025:

Revenue Stream Component	Metric/Period	Reported/Guidance Amount
Credit Rating Fees (MIS)	Q3 2025 Revenue	$1.1 billion
Subscription Revenue (MA)	ARR as of Sep 30, 2025	$3.4 billion
Full-Year Profitability	Adjusted Diluted EPS Guidance	$13.25 to $14.00

The mix between the cyclical MIS revenue and the more stable MA subscription revenue is what analysts watch closely. The growth in MA licensing helps smooth out the volatility you see in the ratings business.