MSCI · Msci Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $850.80M | - | $793.43M | $772.68M | $745.83M | - | $724.71M | $707.95M | $679.97M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $49.60M | - | $44.81M | $44.07M | $47.59M | - | $38.58M | $41.07M | $40.52M | - |
| SG&A | $69.00M | - | $41.80M | $38.35M | $57.10M | - | $41.56M | $39.71M | $56.69M | - |
| Total Operating Expenses | $393.90M | - | $345.74M | $347.44M | $368.80M | - | $323.37M | $325.34M | $340.58M | - |
| D&A | $5.90M | - | $5.80M | $5.38M | $4.75M | - | $4.33M | $4.23M | $4.08M | - |
| Operating Income | $456.90M | - | $447.69M | $425.23M | $377.02M | - | $401.33M | $382.61M | $339.38M | - |
| Interest Expense | $69.10M | - | $53.62M | $46.18M | $46.67M | - | $46.90M | $46.63M | $46.67M | - |
| Income Tax | ($16.80M) | - | $71.12M | $74.19M | $42.47M | - | $76.03M | $73.24M | $39.94M | - |
| Net Income | $406.00M | - | $325.39M | $303.65M | $288.60M | - | $280.90M | $266.76M | $255.95M | - |
| EPS - Basic | $5.54 | - | $4.26 | $3.92 | $3.72 | - | $3.58 | $3.37 | $3.23 | - |
| EPS - Diluted | $5.53 | - | $4.25 | $3.92 | $3.71 | - | $3.57 | $3.37 | $3.22 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $385.30M | $515.33M | $400.09M | $347.32M | $360.67M | $409.35M | $500.98M | $451.40M | $519.32M | $461.69M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $10.30M | $15.34M | $16.05M | $11.76M | $10.66M | $14.52M | $8.75M | $12.92M | $12.05M | $9.81M |
| Current Assets | $1.39B | $1.64B | $1.31B | $1.27B | $1.24B | $1.34B | $1.29B | $1.32B | $1.36B | $1.42B |
| Total Assets | $5.55B | $5.70B | $5.39B | $5.37B | $5.34B | $5.45B | $5.41B | $5.46B | $5.48B | $5.52B |
| Current Liabilities | $1.61B | $1.83B | $1.48B | $1.47B | $1.47B | $1.59B | $1.38B | $1.38B | $1.37B | $1.52B |
| Long-term Debt | $6.40B | $6.20B | $5.51B | $4.51B | $4.55B | $4.51B | $4.48B | $4.51B | $4.51B | $4.50B |
| Total Liabilities | $8.32B | $8.36B | $7.31B | $6.26B | $6.30B | $6.39B | $6.16B | $6.19B | $6.13B | $6.26B |
| Stockholders' Equity | ($2.77B) | ($2.65B) | ($1.92B) | ($886.21M) | ($958.57M) | ($940.00M) | ($751.00M) | ($734.48M) | ($650.52M) | ($739.76M) |
| Retained Earnings | $5.68B | $5.43B | $5.28B | $5.09B | $4.93B | $4.78B | $4.60B | $4.45B | $4.31B | $4.18B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $306.80M | - | - | - | $301.74M | - | - | - | $300.14M | - |
| Investing Cash Flow | ($70.50M) | - | - | - | ($32.90M) | - | - | - | ($32.33M) | - |
| Financing Cash Flow | ($364.50M) | - | - | - | ($321.72M) | - | - | - | ($207.22M) | - |
| CapEx | $2.80M | - | - | - | $11.50M | - | - | - | $4.27M | - |
| Free Cash Flow | $304.00M | - | - | - | $290.24M | - | - | - | $295.87M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 53.7% | - | 56.4% | 55.0% | 50.6% | - | 55.4% | 54.0% | 49.9% | - |
| EBITDA margin | 54.4% | - | 57.2% | 55.7% | 51.2% | - | 56.0% | 54.6% | 50.5% | - |
| Net margin | 47.7% | - | 41.0% | 39.3% | 38.7% | - | 38.8% | 37.7% | 37.6% | - |
| Free cash flow margin | 35.7% | - | - | - | 38.9% | - | - | - | 43.5% | - |
| FCF / Net income | 0.75 | - | - | - | 1.01 | - | - | - | 1.16 | - |
| R&D / Revenue | 5.8% | - | 5.6% | 5.7% | 6.4% | - | 5.3% | 5.8% | 6.0% | - |
| SG&A / Revenue | 8.1% | - | 5.3% | 5.0% | 7.7% | - | 5.7% | 5.6% | 8.3% | - |
| Effective tax rate | -4.3% | - | 17.9% | 19.6% | 12.8% | - | 21.3% | 21.5% | 13.5% | - |
| Return on assets | 7.3% | - | 6.0% | 5.7% | 5.4% | - | 5.2% | 4.9% | 4.7% | - |
| Return on equity | -14.6% | - | -17.0% | -34.3% | -30.1% | - | -37.4% | -36.3% | -39.3% | - |
| Return on invested capital | 12.6% | - | 10.2% | 9.4% | 9.2% | - | 8.5% | 8.0% | 7.6% | - |
| Liquidity | ||||||||||
| Current ratio | 0.86 | 0.90 | 0.88 | 0.86 | 0.84 | 0.85 | 0.93 | 0.96 | 1.00 | 0.93 |
| Quick ratio | 0.86 | 0.90 | 0.88 | 0.86 | 0.84 | 0.85 | 0.93 | 0.96 | 1.00 | 0.93 |
| Cash ratio | 0.24 | 0.28 | 0.27 | 0.24 | 0.25 | 0.26 | 0.36 | 0.33 | 0.38 | 0.30 |
| Leverage | ||||||||||
| Debt / Equity | -2.31 | -2.34 | -2.87 | -5.09 | -4.74 | -4.80 | -5.97 | -6.14 | -6.93 | -6.08 |
| Debt / Assets | 1.15 | 1.09 | 1.02 | 0.84 | 0.85 | 0.83 | 0.83 | 0.83 | 0.82 | 0.81 |
| Debt / EBITDA | 13.84 | - | 12.15 | 10.48 | 11.91 | - | 11.06 | 11.66 | 13.12 | - |
| Interest coverage | 6.6x | - | 8.3x | 9.2x | 8.1x | - | 8.6x | 8.2x | 7.3x | - |
| Equity multiplier | -2.00 | -2.15 | -2.81 | -6.06 | -5.58 | -5.79 | -7.20 | -7.43 | -8.42 | -7.46 |
| Liabilities / Assets | 1.50 | 1.47 | 1.36 | 1.16 | 1.18 | 1.17 | 1.14 | 1.13 | 1.12 | 1.13 |
| Efficiency | ||||||||||
| Asset turnover | 0.15 | - | 0.15 | 0.14 | 0.14 | - | 0.13 | 0.13 | 0.12 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 97.5x | - | 133.5x | 147.1x | 152.4x | - | 163.3x | 143.0x | 174.1x | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | 46.5x | - | 54.8x | 57.8x | 59.0x | - | 63.3x | 53.9x | 65.5x | - |
| EV / EBITDA | 98.5x | - | 107.1x | 113.5x | 126.2x | - | 123.0x | 109.2x | 141.4x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 14.1% | - | 9.5% | 9.1% | 9.7% | - | 15.9% | 14.0% | 14.8% | - |
| Revenue CAGR (3y) | 12.8% | - | 12.3% | 11.9% | 10.0% | - | 11.9% | 12.4% | 12.4% | - |
| Revenue CAGR (5y) | 12.2% | - | 13.3% | 13.5% | 12.3% | - | 12.9% | 12.9% | 12.9% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 21.2% | - | 11.6% | 11.1% | 11.1% | - | 13.6% | 10.6% | 7.9% | - |
| Net income growth (YoY) | 40.7% | - | 15.8% | 13.8% | 12.8% | - | 8.2% | 8.1% | 7.2% | - |
| EPS growth (YoY) | 49.1% | - | 19.0% | 16.3% | 15.2% | - | 9.2% | 9.1% | 8.4% | - |
| EPS CAGR (3y) | 23.0% | - | 16.6% | 14.8% | 10.1% | - | 20.7% | 19.2% | 10.9% | - |
| EPS CAGR (5y) | 18.6% | - | 14.5% | 23.6% | 16.5% | - | 17.4% | 18.0% | 9.1% | - |
| FCF growth (YoY) | 4.7% | - | - | - | -1.9% | - | - | - | 14.7% | - |
| FCF CAGR (5y) | 7.2% | - | - | - | 21.6% | - | - | - | 28.4% | - |
| Book value growth (YoY) | -189.4% | -182.4% | -155.1% | -20.7% | -47.4% | -27.1% | 28.4% | 38.5% | 27.8% | 26.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$5.99B totalReportable Segment Aggregation Before Other Operating Segment$2.86B · 47.7%
Index Segment$1.79B · 29.8%
Analytics Segment$714.40M · 11.9%
Sustainability And Climate Segment$353.92M · 5.9%
All Other Segments$279.34M · 4.7%
Product / service
$1.79B totalRecurring Subscriptions$957.90M · 53.6%
Asset Based Fees$770.67M · 43.1%
Non Recurring$58.24M · 3.3%
Geographic
$6.27B totalAmericas$1.41B · 22.5%
US$1.27B · 20.2%
EMEA$1.24B · 19.8%
Other Europe Middle East And Africa Countries$698.50M · 11.1%
GB$543.48M · 8.7%
Asia And Australia$484.37M · 7.7%
Other Asia And Australia Countries$356.76M · 5.7%
Other America Countries$140.70M · 2.2%
JP$127.61M · 2.0%
Peer comparison
Same SIC group: Services-Business Services, NEC
Comparing MSCI Inc. against the 5 most active filers in the same SIC group.
Dividends
$7.70/share trailing 12 months · +13.2% YoY
| Ex-date | Per share |
|---|---|
| May 15, 2026 | $2.0500 |
| Feb 13, 2026 | $2.0500 |
| Nov 14, 2025 | $1.8000 |
| Aug 15, 2025 | $1.8000 |
| May 16, 2025 | $1.8000 |
| Feb 14, 2025 | $1.8000 |
| Nov 15, 2024 | $1.6000 |
| Aug 16, 2024 | $1.6000 |
| May 16, 2024 | $1.6000 |
| Feb 15, 2024 | $1.6000 |
| Nov 8, 2023 | $1.3800 |
| Aug 10, 2023 | $1.3800 |
| May 11, 2023 | $1.3800 |
| Feb 16, 2023 | $1.3800 |
| Nov 9, 2022 | $1.2500 |
| Aug 11, 2022 | $1.2500 |
| May 12, 2022 | $1.0400 |
| Feb 17, 2022 | $1.0400 |
| Nov 10, 2021 | $1.0400 |
| Aug 12, 2021 | $1.0400 |
| May 13, 2021 | $0.7800 |
| Feb 18, 2021 | $0.7800 |
| Nov 12, 2020 | $0.7800 |
| Aug 13, 2020 | $0.7800 |