Financial Highlights - Adjusted Diluted EPS grew by 22% due to record revenue performance[9] - Quarterly revenue surpassed $2 billion, up 11% year-over-year[12] - Adjusted Operating Margin expanded 510bps to 529%[12] - MCO revenue growth increased to be in the high-single-digit percent range[12] - Adjusted Diluted EPS is up 17% at the midpoint, for a range of $1450 to $1475[12] - Free Cash Flow is approximately $25 billion[43] Moody's Investors Service (MIS) - MIS revenue reached a record high of $11 billion[9] - MIS rated issuance guidance increased to the mid-single-digit percent range[40] - Refinancing walls approximately doubled since 2018, reaching $52 trillion in September 2025[13, 14] - Year-over-year increase of 6% since previous study; stock of forward maturities remains robust, exceeding $5 trillion funding deep currents[15] - Adjusted Operating Margin increased 560 bps to 652%[26] Moody's Analytics (MA) - MA delivered 400bps of margin expansion in Q3[16] - ARR grew by 8% versus the prior year, reaching $34 billion[12] - Decision Solutions ARR is up 10%[9] - Recurring revenue accounts for 96% of total revenue[17]