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Moodys vs S&P Global: revenue, profit, margins and growth compared

Moodys brought in $7.7B of revenue in fiscal 2025, S&P Global $15.3B in fiscal 2025. Revenue changed by +8.9% at Moodys and +7.9% at S&P Global on the year before, so Moodys grew faster. Moodys kept 31.9% of its revenue as net profit, S&P Global 29.2%. Free cash flow was $2.6B at Moodys and $5.5B at S&P Global.

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Side by side, latest fiscal year

MCOSPGI
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$7.7B$15.3B
Revenue growth+8.9%+7.9%
Net income$2.5B$4.5B
Net margin31.9%29.2%
Free cash flow$2.6B$5.5B
Free cash flow margin33.4%35.6%
Earnings per share (diluted)$13.67$14.66
Cash$2.4B$1.7B
Debt$7B$13.1B
Price to earnings34.327.5
Market value$81.2B$118.9B
Dividend yield0.80%0.95%
Rank by revenue in sector#71 of 444 · Finance#43 of 444 · Finance

Over the years

Revenue
MCO FY2018: $4.4BMCO FY2019: $4.8BMCO FY2020: $5.4BMCO FY2021: $6.2BMCO FY2022: $5.5BMCO FY2023: $5.9BMCO FY2024: $7.1BMCO FY2025: $7.7BSPGI FY2018: $6.3BSPGI FY2019: $6.7BSPGI FY2020: $7.4BSPGI FY2021: $8.3BSPGI FY2022: $11.2BSPGI FY2023: $12.5BSPGI FY2025: $14.2BSPGI FY2025: $15.3BFY18FY19FY20FY21FY22FY23FY24FY25
MCO $7.7BSPGI $15.3B
Net income
MCO FY2018: $1.3BMCO FY2019: $1.4BMCO FY2020: $1.8BMCO FY2021: $2.2BMCO FY2022: $1.4BMCO FY2023: $1.6BMCO FY2024: $2.1BMCO FY2025: $2.5BSPGI FY2018: $2BSPGI FY2019: $2.1BSPGI FY2020: $2.3BSPGI FY2021: $3BSPGI FY2022: $3.2BSPGI FY2023: $2.6BSPGI FY2025: $3.9BSPGI FY2025: $4.5BFY18FY19FY20FY21FY22FY23FY24FY25
MCO $2.5BSPGI $4.5B
Net margin
MCO FY2018: 29.5%MCO FY2019: 29.4%MCO FY2020: 33.1%MCO FY2021: 35.6%MCO FY2022: 25.1%MCO FY2023: 27.2%MCO FY2024: 29.0%MCO FY2025: 31.9%SPGI FY2018: 31.3%SPGI FY2019: 31.7%SPGI FY2020: 31.4%SPGI FY2021: 36.4%SPGI FY2022: 29.0%SPGI FY2023: 21.0%SPGI FY2025: 27.1%SPGI FY2025: 29.2%FY18FY19FY20FY21FY22FY23FY24FY25
MCO 31.9%SPGI 29.2%
Revenue growth
MCO FY2019: +8.7%MCO FY2020: +11.2%MCO FY2021: +15.8%MCO FY2022: -12.1%MCO FY2023: +8.2%MCO FY2024: +19.8%MCO FY2025: +8.9%SPGI FY2019: +7.0%SPGI FY2020: +11.1%SPGI FY2021: +11.5%SPGI FY2022: +34.8%SPGI FY2023: +11.8%SPGI FY2025: +13.7%SPGI FY2025: +7.9%FY19FY20FY21FY22FY23FY24FY25
MCO +8.9%SPGI +7.9%
Free cash flow
MCO FY2018: $1.4BMCO FY2019: $1.6BMCO FY2020: $2BMCO FY2021: $1.9BMCO FY2022: $1.2BMCO FY2023: $1.9BMCO FY2024: $2.5BMCO FY2025: $2.6BSPGI FY2018: $2BSPGI FY2019: $2.7BSPGI FY2020: $3.5BSPGI FY2021: $3.6BSPGI FY2022: $2.5BSPGI FY2023: $3.6BSPGI FY2025: $5.6BSPGI FY2025: $5.5BFY18FY19FY20FY21FY22FY23FY24FY25
MCO $2.6BSPGI $5.5B

Fiscal years as each company reports them; the two may end in different months.

Questions about Moodys and S&P Global

Which is bigger by revenue, Moodys or S&P Global?

S&P Global is bigger by revenue: $15.3B in fiscal 2025, against $7.7B for Moodys in fiscal 2025.

Which keeps more of its revenue as profit, Moodys or S&P Global?

Moodys had a net margin of 31.9% in fiscal 2025; S&P Global had 29.2% in fiscal 2025.

Which grew revenue faster, Moodys or S&P Global?

In their latest fiscal years revenue changed by +8.9% at Moodys and +7.9% at S&P Global.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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