Revenue and Issuance Analysis
Corporate Finance: Revenue Diversification
Revenue: Distribution by Geography
Revenue¹: Distribution by Recurring vs. Transaction
100%
100%
80%
30% 31% 32% 27% 27% 27%
80%
35% 38%
31% 30% 29% 28%
T
62% 68% 68% 65% 66% 65% 63% 64% 65% 68%
63% 66%
60%
60%
40%
40%
70% 69% 68% 73% 73% 73%
65% 62%
69% 70% 71% 72%
20%
20%
38%
32% 32% 35% 34% 35%
37% 36% 35% 32%
37% 34%
0%
0%
FY14 FY15 FY16 FY17 1Q18 2Q18 3Q18 4Q18 FY18 1Q19 2Q19 3Q19
FY14 FY15 FY16 FY17 1Q18 2Q18 3Q18 4Q18 FY18 1Q19 2Q19 3Q19
■Non-U.S. ■U.S.
■Transaction
■Recurring
Revenue¹: Distribution by Product
100%
22% 18%
23%
26% 28% 31%
26% 24% 28%
20% 22% 23%
80%
16%
7%
16%
20%
16%
18% 15%
13%
18% 15%
13%
15%
60%
19%
27%
18%
21%
23%
20% 27% 25% 27%
22% 22% 19%
40%
50%
20%
38% 39% 38%
44%
34% 34% 35%
40%
36% 36% 36%
0%
FY14 FY15 FY16 FY17 1Q18 2Q18 3Q18 4Q18 FY18 1Q19 2Q19 3Q19
■Other2
■Investment Grade
■Speculative Grade
■Bank Loans
1. Historical data has been adjusted to conform with current information and excludes intercompany revenue. The revenue reclassification of REITs to Corporate Finance from
Structured Finance is reflected starting from 1Q 2018.
2.
Other includes: monitoring, commercial paper, medium term notes, and ICRA.
Percentages have been rounded and may not total to 100%.
MOODY'S
November 4, 2019
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