4Q and FY 2023 Investor Presentation
Moody's Corporation Financial Profile
FY 2023 Revenue: $5.9 billion
48%
Non-U.S.
52%
U.S.
31%
Transaction
69%
Recurring
DS
PPIF
23%
MA1
8%
R&I
MIS²
FIG
15%
9%
SFG
7%
D&I
13%
CFG
24%
Full Year 2024 Guidance³
Revenue
Operating Expenses
Operating Margin
Adjusted Operating Margin
Interest Expense, Net
Depreciation & Amortization
Increase in the high-single to low-double-digit % range
Increase in the mid-to-high-single-digit % range
37% to 39%
44% -46%
$240 $260 million
Approximately $450 million
1. Percentages may not sum to 100% due to rounding.
Effective Tax Rate
Diluted EPS
Adjusted Diluted EPS
Operating Cash Flow
Free Cash Flow
Share Repurchases
22% -24%
$9.45 $10.20
$10.25 $11.00
$2.3 to $2.5 billion
$1.9 to $2.1 billion
Approximately $1.0 billion
2. Percentages may not sum to 100% due to rounding. Includes MIS Other, <1%; MIS Other consists of financial instruments pricing services in the Asia-Pacific region, ICRA non-ratings revenue, and revenue from professional services.
3. Guidance as of February 13, 2024. Refer to Table 12 - "2024 Outlook" in the press release titled "Moody's Corporation Reports Results for Fourth Quarter and Full Year 2023; Sets Outlook for 2024." from February 13, 2024, for a complete list of
guidance, reconciliations between adjusted measures and U.S. GAAP, as well as assumptions used by the Company with respect to its guidance.
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4Q and FY 2023 Investor Presentation
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