MSCI Inc.

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

                    Revenue
                    FY2025
                
$3.1B
                    3y CAGR +11.7%
                    
                    P50
                    
                    +9.7%
                    
                    Net income
                    FY2025
                
$1.2B
                    Net margin +38.4%
                    
                    P83
                    
                    +8.4%
                    
                    Total assets
                    FY2025
                
$5.7B
                    ROA +21.1%
                    
                    P99
                    
                    +4.7%
                    
                    Operating cash flow
                    FY2025
                
$1.6B
                    FCF margin +46.5%
                    
                    P76
                    
                    +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 revenue.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 5 years

Total assets $5.7B

Total liabilities $8.4B

Shareholders equity $-2.7B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	16.4%	14.3%	18.3%	44.2%	69.6%
Accounts Receivable	31.5%	28.7%	33.2%	29.5%	32.5%
Prepaid Expenses	4.6%	4.0%	4.6%	4.1%	2.8%
Total Current Assets	52.5%	47.1%	56.1%	77.7%	104.9%
Property,Plant and Equipment	2.8%	2.5%	2.2%	2.4%	3.3%
Operating Lease Assets	3.6%	4.2%	4.6%	5.6%	7.1%
Goodwill	93.3%	102.1%	114.2%	99.2%	109.4%
Intangible Assets	26.6%	31.8%	37.8%	24.8%	29.0%
Deferred Tax Assets	1.5%	1.4%	1.6%	1.3%	2.0%
Other Noncurrent Assets	1.8%	1.7%	1.7%	1.7%	3.1%
Total Assets	181.9%	190.7%	218.2%	222.3%	269.5%
Liabilities
Accounts Payable	0.5%	0.5%	0.4%	0.7%	0.7%
Accrued Liabilities	18.6%	15.7%	16.3%	15.3%	20.2%
Deferred Revenue	39.3%	39.3%	42.9%	39.3%	40.4%
Total Current Liabilities	58.4%	55.5%	60.0%	55.6%	61.2%
Long Term Debt	197.9%	157.9%	177.8%	200.3%	203.6%
Operating Lease Liabilities Noncurrent	3.4%	4.2%	4.8%	5.9%	7.3%
Deferred Tax Liabilities	3.2%	1.7%	1.1%	1.3%	0.2%
Other Noncurrent Liabilities	3.7%	4.2%	3.8%	4.0%	5.1%
Total Liabilities	266.6%	223.6%	247.5%	267.1%	277.5%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.1%	0.1%	0.1%
Additional Paid In Capital	57.5%	59.0%	62.8%	67.4%	71.3%
Retained Earnings	173.2%	167.4%	165.3%	154.5%	145.7%
Treasury Stock	313.8%	256.8%	254.9%	264.1%	222.2%
Accumulated Other Comprehensive Income	-1.6%	-2.5%	-2.4%	-2.7%	-2.9%
Total Stockholders Equity	-84.7%	-32.9%	-29.3%	-44.8%	-8.0%
Total Liabilitiesand Equity	181.9%	190.7%	218.2%	222.3%	269.5%

Income Statement

Revenue, expense, and profitability

16 accounts · 5 years

Revenue $3.1B

Operating income $1.7B

Net income $1.2B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	17.6%	18.0%	17.7%	18.0%	17.6%
Expenses Research and Development	5.7%	5.6%	5.2%	4.8%	5.5%
Expenses Selling,General and Administrative	16.0%	16.6%	17.0%	18.3%	19.1%
Expenses Depreciation and Amortization	6.2%	6.3%	5.4%	5.2%	5.4%
Other Income Expense Operating Income	54.7%	53.5%	54.8%	53.7%	52.5%
Other Income Expense Interest Income	0.5%	0.7%	1.4%	0.5%	0.1%
Other Income Expense Interest Expense	6.7%	6.5%	7.4%	7.6%	7.8%
Other Income Expense Other Income/expense	-0.8%	-0.3%	5.4%	-0.2%	-2.8%
Other Income Expense Income Before Tax	47.7%	47.5%	54.1%	46.4%	42.0%
Income Tax Income Tax Expense	9.3%	8.6%	8.7%	7.7%	6.5%
net Income net Income	38.4%	38.8%	45.4%	38.7%	35.5%
net Income Comprehensive Income	39.0%	38.5%	45.4%	38.7%	35.5%
Earnings Per Share Basic Eps	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%
Earnings Per Share Weighted Average Shares Diluted	2.4%	2.8%	3.2%	3.6%	4.1%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $1.6B

Investing cash flow $-130.1M

Financing cash flow $-1.4B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	38.4%	38.8%	45.4%	38.7%	35.5%
Operating Activities Depreciation and Amortization	6.2%	6.3%	5.4%	5.2%	5.4%
Operating Activities Stock Based Compensation	3.6%	3.3%	2.8%	2.6%	2.7%
Operating Activities Deferred Income Taxes	1.5%	0.5%	-0.6%	1.6%	-5.4%
Operating Activities Changes In Operating Assets and Liabilities	-0.8%	2.5%	0.1%	-0.9%	2.9%
Operating Activities Other Non Cash Items	1.9%	1.0%	-4.2%	1.4%	4.7%
Operating Activities net Cash From Operating Activities	50.7%	52.6%	48.9%	48.7%	45.8%
Investing Activities Capital Expenditures	-4.1%	-4.0%	-3.6%	-3.2%	-2.6%
Investing Activities Business Acquisitions	0.0%	-1.0%	-28.8%	0.0%	-46.4%
Investing Activities Other Investing Activities	-0.0%	-0.1%	-0.0%	-0.3%	-0.4%
Investing Activities net Cash From Investing Activities	-4.1%	-5.1%	-32.4%	-3.5%	-50.7%
Financing Activities Proceeds From Debt	89.5%	19.5%	0.0%	15.8%	88.3%
Financing Activities Repayment of Debt	-35.2%	-19.6%	-0.3%	-0.3%	-51.5%
Financing Activities Repurchase of Common Stock	-79.3%	-31.0%	-19.9%	-62.2%	-9.7%
Financing Activities Dividends Paid	-17.8%	-17.8%	-17.4%	-16.6%	-14.8%
Financing Activities Proceeds From Stock Issuance	0.2%	0.0%	0.0%	—	—
Financing Activities Other Financing Activities	-1.0%	-0.2%	0.0%	-0.1%	-1.1%
Financing Activities net Cash From Financing Activities	-43.5%	-49.1%	-37.7%	-63.4%	11.2%
Cash Reconciliation Effect of Exchange Rate On Cash	0.3%	-0.3%	0.2%	-0.8%	-0.4%
Cash Reconciliation net Change In Cash	3.4%	-1.8%	-21.0%	-19.0%	5.9%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+82.4%	+82.0%	+82.3%	+82.0%	+82.4%
Operating margin	+54.7%	+53.5%	+54.8%	+53.7%	+52.5%
Net margin	+38.4%	+38.8%	+45.4%	+38.7%	+35.5%
FCF margin	+46.5%	+48.5%	+45.3%	+45.5%	+43.2%
Growth
Revenue CAGR (3y)	+11.7%	+11.8%	+14.3%	+13.0%	+12.5%
Returns
ROE	-45.3%	-118.0%	-155.3%	-86.4%	-444.1%
ROA	+21.1%	+20.4%	+20.8%	+17.4%	+13.2%
ROIC	+45.5%	+39.5%	+35.1%	+40.1%	+35.2%
Liquidity
Current ratio	0.90x	0.85x	0.93x	1.40x	1.71x
Quick ratio	0.82x	0.78x	0.86x	1.32x	1.67x
Leverage
D/E	-3.15x	-6.79x	-8.46x	-5.96x	-34.69x
Interest coverage	8.16x	8.24x	7.42x	7.04x	6.72x
Efficiency
Asset turnover	0.55x	0.52x	0.46x	0.45x	0.37x
Cash conversion cycle	—	—	—	—	—

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FY2025 fundamentals · no price

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MSCI Inc.

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