Moody’s Investors Service rated $6.6 trillion of debt in 2025, the highest annual total in its history, driven by robust issuance across infrastructure, AI data centers, energy transition and private credit markets. Full-year revenue exceeded $7.7 billion, a 9% increase, with both ratings and analytics units growing in parallel.

Adjusted diluted EPS rose 20% year over year to $14.94, reflecting roughly 70% earnings growth over three years. Adjusted operating margin expanded by 300 basis points to 51.1%, benefiting from operating leverage amid record fourth-quarter deal volumes, including over $70 billion of issuance for major tech clients.

Moody’s Analytics delivered $3.5 billion in annual recurring revenue, up 8%, with 97% of Q4 revenue recurring and margins improving to 33.1%. Decision Solutions, including KYC and CreditLens, saw double-digit ARR growth, while a new stablecoin rating framework positions the firm for a projected $400 billion market by end-2026.

Management guided 2026 to high-single-digit revenue growth, adjusted EPS of $16.40–17.00, roughly $2 billion in share buybacks and a 10% dividend increase. Moody’s also completed the sale of its learning solutions unit and expects to close its regulatory reporting business sale by mid-2026.