MSCI Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 3.134B, using the latest reported figures. The previous period, 2024, was about USD 2.856B.

Watchlist

Latest quarter

Revenue

892 million USD

2026 Q3 · USD

Exact inputs and evidence

Operating margin

56.29%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 502100000 USD Source
  • Revenue: 892000000 USD Source

Operating cash flow

436 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1113700000 USD Source
  • Operating Cash Flow: 677600000 USD Source

Free cash flow

423 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 1113700000 USD Source
  • Operating Cash Flow: 677600000 USD Source
  • Capital Expenditure: 27200000 USD Source
  • Capital Expenditure: 13800000 USD Source
Cash and cash equivalents
261 million USD Source
Exact value

261000000 USD

Long-term debt including current maturities
6.72 billion USD Source
Exact value

6716900000 USD

Shares outstanding
71.7 million shares Source
Exact value

71700000 shares

Reported share-count change

-4.63% · -3.48 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 75180647 shares · 2025-09-30· Source
  • 71700000 shares · 2026-09-30· Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-20.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 6 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +9.7%

    Prior period

    USD 2.86 billion

    –

    Current period

    USD 3.13 billion

    –

    Exact inputs and evidence

    3134459000 − 2856128000 = 278331000 USD

    2856128000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3134459000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +8.4%

    Prior period

    USD 1.11 billion

    –

    Current period

    USD 1.2 billion

    –

    Exact inputs and evidence

    1202305000 − 1109128000 = 93177000 USD

    1109128000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1202305000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +5.8%

    Prior period

    USD 1.5 billion

    –

    Current period

    USD 1.59 billion

    –

    Exact inputs and evidence

    1588446000 − 1501627000 = 86819000 USD

    1501627000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1588446000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +16.5%

    Prior period

    USD 33.76 million

    –

    Current period

    USD 39.32 million

    –

    Exact inputs and evidence

    39319000 − 33762000 = 5557000 USD

    33762000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    39319000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 3.13 billion 100% of revenue
  • Operating costs Derived USD 1.42 billion 45% of revenue
  • Operating income USD 1.71 billion 55% of revenue
  • Tax, interest and other Derived USD 511.26 million 16% of revenue
  • Net income USD 1.2 billion 38% of revenue

Cash

  • Operating cash flow USD 1.59 billion 51% of revenue
  • Capital expenditure USD 39.32 million 1.3% of revenue
  • Free cash flow Derived USD 1.55 billion 49% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 23%20%58%
  • 2017 24%22%54%
  • 2018 35%12%52%
  • 2019 36%12%51%
  • 2020 35%17%48%
  • 2021 36%17%48%
  • 2022 39%15%46%
  • 2023 45%9.3%45%
  • 2024 39%15%46%
  • 2025 38%16%45%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-311150669000 662565000 Derived 488104000 227249000 Derived 260855000 410079000 Derived
Source
2017 2017-01-01 – 2017-12-311274172000 694402000 Derived 579770000 275798000 Derived 303972000 370981000 Derived
Source
2018 2018-01-01 – 2018-12-311433984000 747086000 Derived 686898000 179013000 Derived 507885000 582505000 Derived
Source
2019 2019-01-01 – 2019-12-311557796000 802095000 Derived 755701000 192053000 Derived 563648000 680407000 Derived
Source
2020 2020-01-01 – 2020-12-311695390000 810626000 Derived 884764000 282942000 Derived 601822000 789283000 Derived
Source
2021 2021-01-01 – 2021-12-312043544000 970819000 Derived 1072725000 346742000 Derived 725983000 922560000 Derived
Source
2022 2022-01-01 – 2022-12-312248598000 1040958000 Derived 1207640000 337067000 Derived 870573000 1081752000 Derived
Source
2023 2023-01-01 – 2023-12-312528920000 1144311000 Derived 1384609000 236017000 Derived 1148592000 1213272000 Derived
Source
2024 2024-01-01 – 2024-12-312856128000 1327610000 Derived 1528518000 419390000 Derived 1109128000 1467865000 Derived
Source
2025 2025-01-01 – 2025-12-313134459000 1420892000 Derived 1713567000 511262000 Derived 1202305000 1549127000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 3.1B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.4B2.5B1.7B846.3M0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue1150669000
2017Revenue1274172000
2018Revenue1433984000
2019Revenue1557796000
2020Revenue1695390000
2021Revenue2043544000
2022Revenue2248598000
2023Revenue2528920000
2024Revenue2856128000
2025Revenue3134459000

Revenue growth

Change in revenue from the same financial period one year earlier.

9.7% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.22.2%16.6%11.1%5.5%0.0%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year7%
2017Year over year10.7%
2018Year over year12.5%
2019Year over year8.6%
2020Year over year8.8%
2021Year over year20.5%
2022Year over year10%
2023Year over year12.5%
2024Year over year12.9%
2025Year over year9.7%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 54.7% 2025
Net margin 38.4% 2025
Free cash flow margin 49.4% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.59%44%30%15%0%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin42.4%
2017Operating margin45.5%
2018Operating margin47.9%
2019Operating margin48.5%
2020Operating margin52.2%
2021Operating margin52.5%
2022Operating margin53.7%
2023Operating margin54.8%
2024Operating margin53.5%
2025Operating margin54.7%
2016Net margin22.7%
2017Net margin23.9%
2018Net margin35.4%
2019Net margin36.2%
2020Net margin35.5%
2021Net margin35.5%
2022Net margin38.7%
2023Net margin45.4%
2024Net margin38.8%
2025Net margin38.4%
2016Free cash flow margin35.6%
2017Free cash flow margin29.1%
2018Free cash flow margin40.6%
2019Free cash flow margin43.7%
2020Free cash flow margin46.6%
2021Free cash flow margin45.1%
2022Free cash flow margin48.1%
2023Free cash flow margin48%
2024Free cash flow margin51.4%
2025Free cash flow margin49.4%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 1.6B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.7B1.3B857.8M428.9M0.0201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow442363000
2017Operating cash flow404158000
2018Operating cash flow612762000
2019Operating cash flow709523000
2020Operating cash flow811109000
2021Operating cash flow936069000
2022Operating cash flow1095369000
2023Operating cash flow1236029000
2024Operating cash flow1501627000
2025Operating cash flow1588446000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 1.5B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.1.7B1.3B836.5M418.3M0.0201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow410079000
2017Free cash flow370981000
2018Free cash flow582505000
2019Free cash flow680407000
2020Free cash flow789283000
2021Free cash flow922560000
2022Free cash flow1081752000
2023Free cash flow1213272000
2024Free cash flow1467865000
2025Free cash flow1549127000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

146.5% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.158%119%79%40%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets89.7%
2017Liabilities / assets87.8%
2018Liabilities / assets104.9%
2019Liabilities / assets101.8%
2020Liabilities / assets110.6%
2021Liabilities / assets103%
2022Liabilities / assets120.2%
2023Liabilities / assets113.4%
2024Liabilities / assets117.3%
2025Liabilities / assets146.5%

Current assets to current liabilities

Current assets divided by current liabilities.

0.9× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.50×1.87×1.25×0.62×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities1.97×
2017Current assets / current liabilities2.09×
2018Current assets / current liabilities1.77×
2019Current assets / current liabilities2.31×
2020Current assets / current liabilities1.88×
2021Current assets / current liabilities1.71×
2022Current assets / current liabilities1.4×
2023Current assets / current liabilities0.93×
2024Current assets / current liabilities0.85×
2025Current assets / current liabilities0.9×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 260.86 million
Exact value

Exact value: 260855000 USD

2016-01-01 – 2016-12-31: 260855000 USD Inspect Net Income Open source
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USD 442.36 million
Exact value

Exact value: 442363000 USD

2016-01-01 – 2016-12-31: 442363000 USD Inspect Operating Cash Flow Open source
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USD 32.28 million
Exact value

Exact value: 32284000 USD

2016-01-01 – 2016-12-31: 32284000 USD Inspect Capital Expenditure Open source
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USD 410.08 million
Calculation and evidence

442363000 − 32284000 USD

Exact free cash flow: 410079000 USD

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2017 2017-01-01 – 2017-12-31
USD 303.97 million
Exact value

Exact value: 303972000 USD

2017-01-01 – 2017-12-31: 303972000 USD Inspect Net Income Open source
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USD 404.16 million
Exact value

Exact value: 404158000 USD

2017-01-01 – 2017-12-31: 404158000 USD Inspect Operating Cash Flow Open source
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USD 33.18 million
Exact value

Exact value: 33177000 USD

2017-01-01 – 2017-12-31: 33177000 USD Inspect Capital Expenditure Open source
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USD 370.98 million
Calculation and evidence

404158000 − 33177000 USD

Exact free cash flow: 370981000 USD

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2018 2018-01-01 – 2018-12-31
USD 507.89 million
Exact value

Exact value: 507885000 USD

2018-01-01 – 2018-12-31: 507885000 USD Inspect Net Income Open source
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USD 612.76 million
Exact value

Exact value: 612762000 USD

2018-01-01 – 2018-12-31: 612762000 USD Inspect Operating Cash Flow Open source
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USD 30.26 million
Exact value

Exact value: 30257000 USD

2018-01-01 – 2018-12-31: 30257000 USD Inspect Capital Expenditure Open source
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USD 582.51 million
Calculation and evidence

612762000 − 30257000 USD

Exact free cash flow: 582505000 USD

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2019 2019-01-01 – 2019-12-31
USD 563.65 million
Exact value

Exact value: 563648000 USD

2019-01-01 – 2019-12-31: 563648000 USD Inspect Net Income Open source
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USD 709.52 million
Exact value

Exact value: 709523000 USD

2019-01-01 – 2019-12-31: 709523000 USD Inspect Operating Cash Flow Open source
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USD 29.12 million
Exact value

Exact value: 29116000 USD

2019-01-01 – 2019-12-31: 29116000 USD Inspect Capital Expenditure Open source
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USD 680.41 million
Calculation and evidence

709523000 − 29116000 USD

Exact free cash flow: 680407000 USD

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2020 2020-01-01 – 2020-12-31
USD 601.82 million
Exact value

Exact value: 601822000 USD

2020-01-01 – 2020-12-31: 601822000 USD Inspect Net Income Open source
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USD 811.11 million
Exact value

Exact value: 811109000 USD

2020-01-01 – 2020-12-31: 811109000 USD Inspect Operating Cash Flow Open source
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USD 21.83 million
Exact value

Exact value: 21826000 USD

2020-01-01 – 2020-12-31: 21826000 USD Inspect Capital Expenditure Open source
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USD 789.28 million
Calculation and evidence

811109000 − 21826000 USD

Exact free cash flow: 789283000 USD

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2021 2021-01-01 – 2021-12-31
USD 725.98 million
Exact value

Exact value: 725983000 USD

2021-01-01 – 2021-12-31: 725983000 USD Inspect Net Income Open source
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USD 936.07 million
Exact value

Exact value: 936069000 USD

2021-01-01 – 2021-12-31: 936069000 USD Inspect Operating Cash Flow Open source
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USD 13.51 million
Exact value

Exact value: 13509000 USD

2021-01-01 – 2021-12-31: 13509000 USD Inspect Capital Expenditure Open source
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USD 922.56 million
Calculation and evidence

936069000 − 13509000 USD

Exact free cash flow: 922560000 USD

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2022 2022-01-01 – 2022-12-31
USD 870.57 million
Exact value

Exact value: 870573000 USD

2022-01-01 – 2022-12-31: 870573000 USD Inspect Net Income Open source
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USD 1.1 billion
Exact value

Exact value: 1095369000 USD

2022-01-01 – 2022-12-31: 1095369000 USD Inspect Operating Cash Flow Open source
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USD 13.62 million
Exact value

Exact value: 13617000 USD

2022-01-01 – 2022-12-31: 13617000 USD Inspect Capital Expenditure Open source
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USD 1.08 billion
Calculation and evidence

1095369000 − 13617000 USD

Exact free cash flow: 1081752000 USD

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2023 2023-01-01 – 2023-12-31
USD 1.15 billion
Exact value

Exact value: 1148592000 USD

2023-01-01 – 2023-12-31: 1148592000 USD Inspect Net Income Open source
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USD 1.24 billion
Exact value

Exact value: 1236029000 USD

2023-01-01 – 2023-12-31: 1236029000 USD Inspect Operating Cash Flow Open source
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USD 22.76 million
Exact value

Exact value: 22757000 USD

2023-01-01 – 2023-12-31: 22757000 USD Inspect Capital Expenditure Open source
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USD 1.21 billion
Calculation and evidence

1236029000 − 22757000 USD

Exact free cash flow: 1213272000 USD

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2024 2024-01-01 – 2024-12-31
USD 1.11 billion
Exact value

Exact value: 1109128000 USD

2024-01-01 – 2024-12-31: 1109128000 USD Inspect Net Income Open source
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USD 1.5 billion
Exact value

Exact value: 1501627000 USD

2024-01-01 – 2024-12-31: 1501627000 USD Inspect Operating Cash Flow Open source
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USD 33.76 million
Exact value

Exact value: 33762000 USD

2024-01-01 – 2024-12-31: 33762000 USD Inspect Capital Expenditure Open source
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USD 1.47 billion
Calculation and evidence

1501627000 − 33762000 USD

Exact free cash flow: 1467865000 USD

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2025 2025-01-01 – 2025-12-31
USD 1.2 billion
Exact value

Exact value: 1202305000 USD

2025-01-01 – 2025-12-31: 1202305000 USD Inspect Net Income Open source
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USD 1.59 billion
Exact value

Exact value: 1588446000 USD

2025-01-01 – 2025-12-31: 1588446000 USD Inspect Operating Cash Flow Open source
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USD 39.32 million
Exact value

Exact value: 39319000 USD

2025-01-01 – 2025-12-31: 39319000 USD Inspect Capital Expenditure Open source
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USD 1.55 billion
Calculation and evidence

1588446000 − 39319000 USD

Exact free cash flow: 1549127000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

263 filings · 11,809 latest values · 11,809 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001408198, 1408198, MSCI, edgar:1408198

Also known as MSCI INC., MSCI Inc.