Moody’s Corporation (MCO)

Executive Summary

Moody’s Corporation (NYSE: MCO) is, in our view, one of the highest-quality, widest-moat businesses in the entire U.S. public market. The company sits at the center of global credit through Moody’s Investors Service (MIS) — one of two dominant ratings agencies in a regulated, government-blessed oligopoly — and increasingly earns durable recurring revenue through Moody’s Analytics (MA), its research, data, and risk-software arm. The economics are remarkable: a ~53% adjusted operating margin, ~60% of revenue now recurring, modest capital intensity, and pricing power that compounds almost regardless of the macro environment.

What’s Inside The Full Report

• 15-year financial summary table — revenue, net income, GAAP & adjusted EPS
• Valuation framework — current multiples vs. 5-year historical range
• Peer comparison table — multiples, margins, balance-sheet metrics
• Base case, bull case, bear case price targets with explicit math
• Competitive position and economic moat analysis
• Management and capital allocation track record
• Balance sheet review — leverage, credit ratings, distribution coverage
• Insider activity — recent open-market buys / sells with interpretation
• Strategic acquisitions and divestitures history
• Sell-side consensus and where TTCM differs
• Detailed risk factors specific to the name
• Bull case and forward catalysts to watch
• TTCM rating with explicit ADD / TRIM price triggers