FFilingLens
Quarterly TTM Annual
Income Balance Cash flow
8Q

Three-Statement Breakdown

MCO
2026-06-30 · figures in $M

FCF DOWN

Free cash flow fell 18% to $688.0M, and covered net income 0.78×.

CASH FROM OPS -17.0%
779 35.7% MGN
CAPITAL EXPENDITURE -4.2%
91
FREE CASH FLOW -18.5%
688
FCF / NET INCOME -38.6%
0.78× TARGET >1.0×
Cash flow 24-09 24-12 25-03 25-06 25-09 25-12 26-03 QoQ YoY TTM 8Q
Net income
10-Q
534 395 625 578 646 610 661 878 +32.8% +51.9% 2,795 2024-09-30 · $534.0M2024-12-31 · $395.0M2025-03-31 · $625.0M2025-06-30 · $578.0M2025-09-30 · $646.0M2025-12-31 · $610.0M2026-03-31 · $661.0M2026-06-30 · $878.0M
Depreciation & amortization
10-Q
108 113 113 120 123 124 122 126 +3.3% +5.0% 495
Stock-based comp
57 54 56 61 57 58 58 59 +1.7% -3.3% 232
Cash from operations
703 674 757 543 743 858 939 779 -17.0% +43.5% 3,319 2024-09-30 · $703.0M2024-12-31 · $674.0M2025-03-31 · $757.0M2025-06-30 · $543.0M2025-09-30 · $743.0M2025-12-31 · $858.0M2026-03-31 · $939.0M2026-06-30 · $779.0M
Cash conversion
1.32× 1.71× 1.21× 0.94× 1.15× 1.41× 1.42× 0.89× -37.5% -5.6% 1.19×
Capital expenditures
(72) (74) (85) (75) (85) (81) (95) (91) -4.2% +21.3% (352)
Free cash flow
631 600 672 468 658 777 844 688 -18.5% +47.0% 2,967 2024-09-30 · $631.0M2024-12-31 · $600.0M2025-03-31 · $672.0M2025-06-30 · $468.0M2025-09-30 · $658.0M2025-12-31 · $777.0M2026-03-31 · $844.0M2026-06-30 · $688.0M
FCF margin
34.8% 35.9% 34.9% 24.7% 32.8% 41.1% 40.6% 31.5% -22.4% +27.7% 36.4%
Cash from investing
-684 -181 224 -126 -54 -42 -91 112 — — -75
Dividends paid
156 155 195 171 168 167 185 180 -2.7% +5.3% 700
Share repurchases
428 480 373 284 513 437 1,471 694 -52.8% +144.4% 3,115
Debt repayment
0 0 700 0 0 0 0 0 — — 0
Cash from financing
-81 -634 -1,298 -482 -674 -609 -1,719 -910 — — -3,912
Net change in cash
7 -234 -269 35 7 203 -915 -2 — — -707
Ending cash balance
2,642 2,408 2,139 2,174 2,181 2,384 1,469 1,467 -0.1% -32.5% 1,467

Click a line to select it — Enter or the EXPAND pill folds out its quarter-by-quarter history.

SELECTED · FREE CASH FLOW · QoQ BRIDGE
FROM844 CASH FROM OPERATIONS-160 CAPITAL EXPENDITURES+4 TO688
↹ CLICK A LINE TO SELECT · ⌘F FIND LINE ITEM SRC 10-Q FILED 2026-07-23 ↗