MSCI Inc.

Financials Financial Exchanges & Data New York City, New York Last filing Feb 6, 2026 · FY2025

                    Revenue
                    FY2017
                
$1.3B
                    
                    +10.7%
                    
                    Net income
                    FY2025
                
$1.2B
                    
                    +8.4%
                    
                    Total assets
                    FY2025
                
$5.7B
                    ROA +21.1%
                    
                    P99
                    
                    +4.7%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    
                    +5.8%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

32 accounts · 10 years

Total assets $5.7B

Total liabilities $8.4B

Shareholders equity $-2.7B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	9.0%	7.5%	8.4%	19.9%	25.8%	31.0%	35.8%	26.7%	27.2%	25.7%
Accounts Receivable	17.3%	15.1%	15.2%	13.3%	12.1%	13.3%	11.9%	14.0%	10.0%	7.2%
Prepaid Expenses	1.3%	1.2%	1.0%	1.1%	0.9%	1.1%	1.1%	1.1%	1.1%	1.0%
Other Current Assets	1.0%	0.9%	0.8%	0.7%	1.2%	0.6%	0.5%	0.6%	0.6%	0.6%
Total Current Assets	28.8%	24.7%	25.7%	35.0%	38.9%	45.9%	49.5%	42.4%	38.7%	34.2%
Property,Plant and Equipment	1.5%	1.3%	1.0%	1.1%	1.2%	1.9%	2.2%	2.7%	2.9%	3.1%
Operating Lease Assets	2.0%	2.2%	2.1%	2.5%	2.6%	3.7%	4.0%	—	—	—
Goodwill	51.3%	53.5%	52.3%	44.6%	40.6%	37.3%	37.2%	45.6%	47.6%	50.5%
Intangible Assets	14.6%	16.7%	17.3%	11.2%	10.8%	5.6%	6.2%	8.3%	9.8%	11.3%
Deferred Tax Assets	0.8%	0.7%	0.7%	0.6%	0.7%	0.6%	0.5%	0.4%	1.1%	1.6%
Other Noncurrent Assets	1.0%	0.9%	0.8%	0.7%	1.2%	0.6%	0.5%	0.6%	0.6%	0.6%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	0.3%	0.3%	0.2%	0.3%	0.2%	0.3%	0.2%	0.1%	0.0%	0.0%
Accrued Liabilities	4.7%	3.5%	3.0%	3.1%	2.6%	3.4%	3.3%	3.4%	3.1%	3.9%
Deferred Revenue	21.6%	20.6%	19.6%	17.7%	15.0%	16.1%	13.7%	15.9%	11.4%	10.8%
Operating Lease Liabilities	1.9%	2.2%	2.2%	2.6%	2.7%	3.6%	3.9%	—	—	—
Other Current Liabilities	4.7%	3.5%	3.0%	3.1%	2.6%	3.4%	3.3%	3.4%	3.1%	1.9%
Total Current Liabilities	32.1%	29.1%	27.5%	25.0%	22.7%	24.3%	21.4%	23.9%	18.6%	17.4%
Long Term Debt	108.8%	82.8%	81.5%	90.1%	75.6%	80.2%	73.1%	76.0%	63.4%	67.3%
Deferred Revenue Noncurrent	0.6%	0.6%	0.5%	0.6%	—	—	—	—	11.4%	10.8%
Operating Lease Liabilities Noncurrent	1.9%	2.2%	2.2%	2.6%	2.7%	3.6%	3.9%	—	—	—
Deferred Tax Liabilities	1.8%	3.5%	3.7%	3.6%	3.8%	2.6%	3.1%	2.9%	3.1%	4.3%
Other Noncurrent Liabilities	2.0%	2.2%	1.8%	1.8%	1.9%	2.1%	1.8%	2.6%	3.4%	1.9%
Total Liabilities	146.6%	117.3%	113.4%	120.2%	103.0%	110.6%	101.8%	104.9%	87.8%	89.7%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	—	—	—	—	—	—
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	31.6%	30.9%	28.8%	30.3%	26.5%	33.4%	32.1%	38.6%	38.6%	39.8%
Retained Earnings	95.2%	87.8%	75.7%	69.5%	54.1%	60.8%	52.3%	54.8%	46.0%	42.9%
Treasury Stock	172.5%	134.7%	116.8%	118.8%	82.4%	103.4%	84.8%	96.6%	70.9%	70.4%
Accumulated Other Comprehensive Income	-0.9%	-1.3%	-1.1%	-1.2%	-1.1%	-1.4%	-1.5%	-1.7%	-1.5%	-2.0%
Total Stockholders Equity	-46.6%	-17.3%	-13.4%	-20.2%	-3.0%	-10.6%	-1.8%	-4.9%	12.2%	10.3%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 10 years

Revenue $1.3B

Operating income $1.7B

Net income $1.2B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Expenses Cost of Revenue	24.9%	24.4%	20.7%	20.8%	17.6%	6.9%	7.0%	8.5%	8.4%	8.2%
Expenses Research and Development	3.1%	2.9%	2.4%	2.1%	2.0%	2.4%	2.3%	2.4%	2.3%	2.4%
Expenses Selling,General and Administrative	3.2%	3.3%	2.8%	2.9%	2.7%	2.7%	2.6%	2.9%	2.7%	2.8%
Expenses Depreciation and Amortization	3.0%	3.0%	2.1%	1.8%	1.5%	1.4%	1.2%	1.6%	1.4%	1.5%
Expenses Share Based Compensation	2.0%	1.7%	1.3%	1.2%	1.0%	1.2%	1.0%	1.1%	1.1%	1.0%
Expenses Operating Expenses	24.9%	24.4%	20.7%	20.8%	17.6%	19.3%	19.1%	22.1%	21.2%	21.5%
Other Income Expense Operating Income	30.0%	28.1%	25.1%	24.2%	19.5%	21.1%	18.0%	20.3%	17.7%	15.8%
Other Income Expense Interest Income	0.3%	0.4%	0.6%	0.2%	0.0%	0.1%	0.4%	0.6%	0.2%	0.1%
Other Income Expense Other Income/expense	-0.4%	-0.1%	-0.1%	-0.1%	-1.0%	-1.1%	-0.5%	1.7%	-0.1%	-0.1%
Other Income Expense Income Before Tax	26.2%	24.9%	24.8%	20.9%	15.6%	16.3%	14.3%	18.6%	14.3%	12.5%
Income Tax Income Tax Expense	5.1%	4.5%	4.0%	3.5%	2.4%	2.0%	0.9%	3.6%	5.0%	4.1%
net Income net Income	21.1%	20.4%	20.8%	17.4%	13.2%	14.3%	13.4%	15.0%	9.3%	8.5%
net Income Comprehensive Income	21.4%	20.2%	20.8%	17.4%	13.2%	14.4%	13.3%	14.7%	9.7%	7.7%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.3%	1.4%	1.4%	1.6%	1.5%	2.0%	2.0%	2.6%	2.8%	3.1%
Earnings Per Share Weighted Average Shares Diluted	1.3%	1.5%	1.4%	1.6%	1.5%	2.0%	2.0%	2.6%	2.8%	3.1%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 10 years

Operating cash flow $1.6B

Investing cash flow $-130.1M

Financing cash flow $-1.4B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	21.1%	20.4%	20.8%	17.4%	13.2%	14.3%	13.4%	15.0%	9.3%	8.5%
Operating Activities Depreciation and Amortization	3.0%	3.0%	2.1%	1.8%	1.5%	1.4%	1.2%	1.6%	1.4%	1.5%
Operating Activities Stock Based Compensation	2.0%	1.7%	1.3%	1.2%	1.0%	1.2%	1.0%	1.1%	1.1%	1.0%
Operating Activities Deferred Income Taxes	0.8%	0.3%	-0.3%	0.7%	-2.0%	-1.3%	-0.5%	-0.0%	-0.6%	-0.6%
Operating Activities Changes In Operating Assets and Liabilities	4.7%	0.9%	5.7%	1.7%	4.0%	3.9%	1.7%	10.1%	5.7%	1.9%
Operating Activities net Cash From Operating Activities	27.9%	27.6%	22.4%	21.9%	17.0%	19.3%	16.9%	18.1%	12.3%	14.4%
Investing Activities Capital Expenditures	0.7%	0.6%	0.4%	0.3%	0.2%	0.5%	0.7%	0.9%	1.0%	1.0%
Investing Activities Business Acquisitions	0.0%	0.5%	13.2%	0.0%	17.2%	0.0%	0.4%	—	—	0.0%
Investing Activities Other Investing Activities	0.0%	0.0%	0.0%	0.1%	0.0%	0.0%	-0.0%	—	—	—
Investing Activities net Cash From Investing Activities	-2.3%	-2.6%	-14.8%	-1.6%	-18.8%	-5.8%	-1.7%	1.0%	-1.5%	-1.4%
Financing Activities Repayment of Debt	19.3%	10.3%	0.2%	0.1%	19.1%	27.2%	12.2%	—	—	—
Financing Activities Repurchase of Common Stock	43.6%	16.3%	9.1%	28.0%	3.6%	18.5%	6.9%	28.0%	4.6%	25.1%
Financing Activities Dividends Paid	9.8%	9.3%	8.0%	7.5%	5.5%	5.9%	5.3%	5.0%	3.7%	3.1%
Financing Activities Proceeds From Stock Issuance	0.1%	0.0%	0.0%	—	—	—	0.1%	0.0%	0.1%	0.2%
Financing Activities Tax Withholding On Stock Based Compensation	1.0%	1.3%	0.8%	2.3%	1.1%	1.2%	4.5%	—	—	—
Financing Activities net Cash From Financing Activities	-23.9%	-25.8%	-17.3%	-28.5%	4.2%	-18.6%	-0.9%	-18.5%	-8.2%	-12.1%
Cash Reconciliation Effect of Exchange Rate On Cash	9.0%	7.5%	8.4%	19.9%	25.8%	31.0%	—	—	0.3%	-0.4%
Cash Reconciliation net Change In Cash	1.9%	-1.0%	-9.6%	-8.6%	2.2%	-4.9%	14.3%	0.4%	3.0%	0.5%
Cash Reconciliation Cash At Beginning of Period	9.0%	7.5%	8.4%	19.9%	25.8%	31.0%	35.8%	26.7%	27.2%	25.7%
Cash Reconciliation Cash At End of Period	9.0%	7.5%	8.4%	19.9%	25.8%	31.0%	35.8%	26.7%	27.2%	25.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	+78.5%	+78.1%
Operating margin	—	—	—	—	—	—	—	—	+45.5%	+42.4%
Net margin	—	—	—	—	—	—	—	—	+23.9%	+22.7%
FCF margin	—	—	—	—	—	—	—	—	+29.1%	+35.6%
Growth
Revenue CAGR (3y)	—	—	—	—	—	—	—	—	+8.5%	+8.0%
Returns
ROE	-45.3%	-118.0%	-155.3%	-86.4%	-444.1%	-135.8%	-734.7%	-305.0%	+75.8%	+82.1%
ROA	+21.1%	+20.4%	+20.8%	+17.4%	+13.2%	+14.3%	+13.4%	+15.0%	+9.3%	+8.5%
ROIC	+45.5%	+39.5%	+35.1%	+40.1%	+35.2%	+47.8%	+47.4%	+36.8%	+23.7%	+20.6%
Liquidity
Current ratio	0.90x	0.85x	0.93x	1.40x	1.71x	1.88x	2.31x	1.77x	2.09x	1.97x
Quick ratio	0.82x	0.78x	0.86x	1.32x	1.67x	1.82x	2.23x	1.70x	2.00x	1.89x
Leverage
D/E	-3.15x	-6.79x	-8.46x	-5.96x	-34.69x	-10.47x	-55.81x	-21.35x	7.17x	8.71x
Interest coverage	—	—	7.42x	7.04x	6.72x	5.66x	5.10x	5.16x	4.99x	4.80x
Efficiency
Asset turnover	—	—	—	—	—	—	—	—	0.39x	0.37x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

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MSCI Inc.

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