Latest revenue
$850.8M
as of 2026-03-31
Latest net income
$406.0M
as of 2026-03-31
Net margin
47.7%
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within Services-Business Services, NEC (109 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 6, 2026.
Fair value · DCF
DCF: 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Drag the slider to test your own growth thesis — the dominant assumption in any DCF is what comes next, not what the math does with it. Beta defaults to 1.0 when not reported.
Community sentiment
Where do you think MSCI is heading?
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $44.83B
- Enterprise value
- $50.85B
- P/E (trailing)
- 37.3×
- Forward P/E
- —
- P/B
- —
- Dividend yield
- 1.3%
- 52-wk high
- $644.67
- 52-wk low
- $501.08
- Beta
- —
- Shares out
- 72.8M
5-year trend
What this company does
MSCI sells investment indexes, portfolio risk analytics, ESG and climate data, and private-asset analytics that institutional investors use to build portfolios and benchmark performance. It earns money primarily through recurring subscriptions and asset-based fees tied to its indexes, with BlackRock alone generating nearly 12% of revenue and roughly 20% of the Index segment. Revenue grew 14% year-over-year to $851 million while MSCI aggressively returned capital, repurchasing $403 million of stock and pushing shareholders' equity deeper negative against $6.4 billion of long-term debt.
Generated from MSCI's filing dated 2026-02-06
Key risks
- Customer concentration: BlackRock generated 11.7% of total revenue and 19.7% of Index segment revenue in Q1 2026, up from 10.3% and 17.8%.
- Negative shareholders' equity of $2.77B with $6.4B long-term debt; aggressive buybacks ($414.8M Q1) drove treasury stock to $10.25B.
- Interest expense jumped 49% YoY to $69.1M as borrowings rose; cash fell to $385M while $375M new debt was drawn in Q1.
Generated from MSCI's filing dated 2026-02-06
Profitability
Operating margin
54.7%
2.2%Net margin
38.4%
1.2%Return on equity
-127.9%
8.4%Return on assets
21.1%
3.5%Leverage
Debt / equity
-7.07×
4.0%Long-term debt / equity
-6.60×
37.5%Debt / assets
116.5%
0.7%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $850.8M | +14.1% | $406.0M | +40.7% | 47.7% |
Q4 2025 2025-12-31 | $822.6M | +10.6% | $284.7M | -6.8% | 34.6% |
Q3 2025 2025-09-30 | $793.4M | +9.5% | $325.4M | +15.8% | 41.0% |
Q2 2025 2025-06-30 | $772.7M | +9.1% | $303.6M | +13.8% | 39.3% |
Q1 2025 2025-03-31 | $745.8M | +9.7% | $288.6M | +12.8% | 38.7% |
Q4 2024 2024-12-31 | $743.5M | — | $305.5M | — | 41.1% |
Q3 2024 2024-09-30 | $724.7M | +15.9% | $280.9M | +8.2% | 38.8% |
Q2 2024 2024-06-30 | $707.9M | +14.0% | $266.8M | +8.1% | 37.7% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Services-Business Services, NEC · SIC 7389
Your notes
Keep private notes on MSCI — thesis, target price, catalysts to watch.
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Insider activity
Insider buying
$21.2M
Insider selling
$6.8M
Net activity
+$14.5M
Distinct insiders
5
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns MSCI
Institutional value
$17.71B
Total shares held
33.7M
Distinct holders
713
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 5.7M | $3.09B | — | New |
| 2 | VANGUARD CAPITAL MANAGEMENT LLC | 4.7M | $2.51B | — | New |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 4.0M | $2.17B | — | New |
| 4 | PRINCIPAL FINANCIAL GROUP INC | 1.3M | $726.1M | — | New |
| 5 | Fiera Capital Corp | 981.7K | $529.1M | — | New |
| 6 | PineStone Asset Management Inc. | 976.8K | $526.5M | — | New |
| 7 | Mitsubishi UFJ Asset Management Co., Ltd. | 856.7K | $461.8M | — | New |
| 8 | BAILLIE GIFFORD & CO | 852.4K | $459.4M | — | New |
| 9 | Invesco Ltd. | 661.6K | $356.6M | — | New |
| 10 | Legal & General Group Plc | 468.1K | $252.3M | — | New |
| 11 | Bank of New York Mellon Corp | 436.7K | $235.4M | — | New |
| 12 | Temasek Holdings (Private) Ltd | 425.9K | $229.5M | — | New |
| 13 | VANGUARD FIDUCIARY TRUST CO | 415.4K | $223.9M | — | New |
| 14 | DEUTSCHE BANK AG\ | 406.3K | $219.0M | — | New |
| 15 | BANQUE PICTET & CIE SA | 390.1K | $210.3M | — | New |
| 16 | Clearbridge Investments, LLC | 363.6K | $196.0M | — | New |
| 17 | UBS Group AG | 306.1K | $165.0M | — | New |
| 18 | STOREBRAND ASSET MANAGEMENT AS | 304.8K | $164.3M | — | New |
| 19 | Robeco Institutional Asset Management B.V. | 293.8K | $158.4M | — | New |
| 20 | DIMENSIONAL FUND ADVISORS LP | 280.9K | $151.4M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Interest expense jumped 49% to $69M while debt rose to $6.4B against negative $2.8B equity—what's your refinancing schedule and rate exposure?
- 2
You repurchased $403M in stock this quarter versus $306M operating cash flow; how is this leverage-funded buyback pace sustainable?
- 3
Deferred revenue declined $48M sequentially despite 14% revenue growth—what does this signal about new subscription bookings and retention?
Refreshed when MSCI files a new report · last from 2026-02-06
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