Investor Presentaiton
Financial Performance1
Revenue2
$ Billions
■MIS Revenue ■MA Revenue
High-single-
2017-2021 CAGR 10%
digit % growth
$6.2
$5.4
$4.2
$4.4
$4.8
$2.4
$2.1
$1.4
$1.7
$2.0
$2.8
$2.7
$2.9
$3.3
$3.8
2017
2018
2019
2020
2021
2022F1
Operating Margin 4
■Operating Margin
■Adj. Operating Margin³
43.3%
47.6%
42.0%
47.6%
41.4%
47.4%
44.5%
49.7%
45.7%
49.9%
2017
2018
2019
2020
2021
2022F
44% - 45%
49% - 50%
Adjusted Diluted EPS ³
$ Per Share
$12.40 $12.90
2017-2021 CAGR 19%
$12.29
$10.15
$8.29
$7.39
$6.07
Free Cash Flow 3
$ Millions
2017
2018
2019
2020
2021
2022F
$664
2017°
5
2018
$2,043
$1,866
$1,606
$1,370
$2,300 - $2,500
1. See press release titled "Moody's Corporation Reports Results for Fourth Quarter and Full Year 2021; Sets Full Year 2022 and Medium-Term Outlooks" from February 10, 2022 for Moody's complete full year 2022 guidance.
2. Totals may not sum due to rounding.
3. Refer to the Appendix for reconciliations between all adjusted measures mentioned throughout this presentation and U.S. GAAP.
4. 2017 operating and adjusted operating margins have been restated to conform to the new presentation for pension expenses.
5. Includes approximately $700 million in net payments pursuant to a settlement charge.
Moody's | Better decisions
4Q & FY 2021 Investor Presentation
11
2019
2020
2021
2022FView entire presentation