MSCI (MSCI Inc.) Stock Financials & Earnings | Market Cap Arena

MSCI (MSCI Inc.) Stock Financials & Earnings | Market Cap Arena

MSCIMSCI Inc.

Mkt Cap$42B

Financial Services·Financial - Data & Stock Exchanges·🇺🇸 United States·NYSE

Revenue (TTM)$3.1B

Net Income (TTM)$1.2B

EPS (TTM)$15.55

Free Cash Flow (TTM)$1.5B

Gross Margin82.4%

Op. Margin54.7%

Net Margin38.4%

FCF Margin49.4%

P/S Ratio (TTM)13.3x

P/E Ratio (TTM)34.6x

YoY Rev Growth+9.7%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$592M	$484M	$315M
Q2 23	$621M	$511M	$346M
Q3 23	$625M	$520M	$353M
Q4 23	$690M	$568M	$371M
Q1 24	$680M	$551M	$339M
Q2 24	$708M	$580M	$383M
Q3 24	$725M	$599M	$401M
Q4 24	$744M	$612M	$405M
Q1 25	$746M	$609M	$377M
Q2 25	$773M	$635M	$425M
Q3 25	$793M	$661M	$448M
Q4 25	$823M	$679M	$464M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	18.3x	47.3x
Q2 23	17.7x	45.4x
Q3 23	17.2x	43.4x
Q4 23	16.5x	36.3x
Q1 24	15.9x	35.7x
Q2 24	15.4x	35.1x
Q3 24	14.9x	34.5x
Q4 24	14.6x	37.5x
Q1 25	14.3x	36.5x
Q2 25	13.9x	35.3x
Q3 25	13.6x	34.0x
Q4 25	13.3x	34.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$264M	$243M
Q2 23	$292M	$265M
Q3 23	$291M	$270M
Q4 23	$389M	$385M
Q1 24	$300M	$276M
Q2 24	$349M	$322M
Q3 24	$422M	$415M
Q4 24	$431M	$416M
Q1 25	$302M	$290M
Q2 25	$336M	$325M
Q3 25	$449M	$446M
Q4 25	$501M	$489M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$22M
Q2 23	$26M
Q3 23	$21M
Q4 23	$4M
Q1 24	$24M
Q2 24	$27M
Q3 24	$7M
Q4 24	$14M
Q1 25	$12M
Q2 25	$11M
Q3 25	$4M
Q4 25	$12M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+5.8%	+2.5%
Q2 23	+12.6%	+9.5%
Q3 23	+11.6%	+8.4%
Q4 23	+19.8%	+19.4%
Q1 24	+14.8%	+22.7%
Q2 24	+14.0%	+18.2%
Q3 24	+15.9%	+18.8%
Q4 24	+7.7%	+5.9%
Q1 25	+9.7%	+8.3%
Q2 25	+9.1%	+6.8%
Q3 25	+9.5%	+6.9%
Q4 25	+10.6%	+6.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$21M	3.6%
Q2 23	$16M	2.6%
Q3 23	$18M	2.9%
Q4 23	$16M	2.4%
Q1 24	$34M	5.0%
Q2 24	$19M	2.7%
Q3 24	$19M	2.6%
Q4 24	$23M	3.1%
Q1 25	$40M	5.4%
Q2 25	$23M	3.0%
Q3 25	$23M	2.8%
Q4 25	$26M	3.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$31M	$41M	$66M
Q2 23	$30M	$36M	$68M
Q3 23	$31M	$37M	$67M
Q4 23	$39M	$40M	$75M
Q1 24	$41M	$57M	$72M
Q2 24	$41M	$40M	$71M
Q3 24	$39M	$42M	$71M
Q4 24	$38M	$44M	$77M
Q1 25	$48M	$57M	$79M
Q2 25	$44M	$38M	$78M
Q3 25	$45M	$42M	$80M
Q4 25	$41M	$43M	$83M

Revenue Segments

Quarter	All Other Segments	Analytics	E S G And Climate Segment	Index
Q1 23	$39M	$147M	$67M	$339M
Q2 23	$38M	$150M	$71M	$362M
Q3 23	$36M	$154M	$73M	$362M
Q4 23	$61M	$165M	$76M	$388M
Q1 24	$64M	$164M	$78M	$374M
Q2 24	$65M	$166M	$80M	$397M
Q3 24	$64M	$172M	$84M	$405M
Q4 24	$65M	$173M	$85M	$420M
Q1 25	$67M	$172M	$85M	$422M
Q2 25	$71M	$178M	$89M	$435M
Q3 25	$70M	$182M	$90M	$451M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$1.1B	$0	$1.1B
Q2 23	$788M	$0	$788M
Q3 23	$925M	$0	$925M
Q4 23	$458M	$0	$458M
Q1 24	$515M	$0	$515M
Q2 24	$448M	$0	$448M
Q3 24	$497M	$0	$497M
Q4 24	$406M	$0	$406M
Q1 25	$357M	$0	$357M
Q2 25	$344M	$0	$344M
Q3 25	$400M	$0	$400M
Q4 25	$515M	$0	$515M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	80M	+0.1%
Q2 23	80M	-0.7%
Q3 23	80M	-0.5%
Q4 23	79M	-0.0%
Q1 24	80M	+0.0%
Q2 24	79M	-0.3%
Q3 24	79M	-0.7%
Q4 24	78M	-0.5%
Q1 25	78M	-0.7%
Q2 25	77M	-0.4%
Q3 25	77M	-0.3%
Q4 25	77M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$341K	3K
FY 15	$390K	3K
FY 16	$402K	3K
FY 17	$419K	3K
FY 18	$461K	3K
FY 19	$459K	3K
FY 20	$467K	4K
FY 21	$475K	4K
FY 22	$472K	5K
FY 23	$436K	6K
FY 24	$466K	6K
FY 25	$10K	300K