MSCI FY 2025 Earnings Report — MSCI Inc. Revenue & Financial Results | Market Cap Arena

FY 2025 Earnings

Reported February 6, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$3.1B	—	$2.9B	—	9.7%
Op. Income	$1.7B	—	$1.5B	—	12.1%
Gross Margin	82.4%	—	82.0%	—	0.5pp
Net Margin	38.4%	—	38.8%	—	-0.5pp
EPS (Diluted)	$15.56	—	$14.05	—	10.7%
Free Cash Flow	$1.5B	—	$1.5B	—	5.5%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$550M
GROSS PROFIT	$2.6B
R&D Expenses	$178M
Selling & Marketing	$320M
General & Administrative	$180M
SG&A Expenses	$500M
Other Expenses	$193M
Operating Expenses	$871M
Cost & Expenses	$1.4B
OPERATING INCOME	$1.7B
Interest Income	$16M
Interest Expense	$210M
Other Income/Expenses	-$219M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$292M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$219M
EBIT	$1.7B
EBITDA	$1.9B
EPS	$16
EPS Diluted	$16

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$550M
GROSS PROFIT	$2.6B
R&D Expenses	$178M
Selling & Marketing	$320M
General & Administrative	$180M
SG&A Expenses	$500M
Other Expenses	$193M
Operating Expenses	$871M
Cost & Expenses	$1.4B
OPERATING INCOME	$1.7B
Interest Income	$16M
Interest Expense	$210M
Other Income/Expenses	-$219M
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$292M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.2B
D&A	$219M
EBIT	$1.7B
EBITDA	$1.9B
EPS	$16
EPS Diluted	$16

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$219M
Stock-Based Compensation	$111M
Deferred Income Tax	$47M
Other Non-Cash Items	$34M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$1.6B
Capital Expenditure	-$39M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$91M
NET CASH FROM INVESTING	-$130M
Net Debt Issuance	$1.7B
Common Stock Repurchased	-$2.5B
Common Dividends Paid	-$557M
Other Financing Activities	-$25M
NET CASH FROM FINANCING	-$1.4B
FREE CASH FLOW	$1.5B
Net Change in Cash	$106M

Balance Sheet

Item	Amount
Cash & Equivalents	$515M
Short-Term Investments	$0
Net Receivables	$987M
Inventory	$0
Other Current Assets	$77M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$200M
Goodwill	$2.9B
Intangible Assets	$833M
Long-Term Investments	$0
Tax Assets	$46M
Other Non-Current Assets	$56M
TOTAL NON-CURRENT ASSETS	$4.1B
TOTAL ASSETS	$5.7B
Account Payables	$15M
Short-Term Debt	$0
Deferred Revenue	$1.2B
Other Current Liabilities	$243M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$6.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$102M
Other Non-Current Liabilities	$116M
TOTAL NON-CURRENT LIABILITIES	$6.5B
TOTAL LIABILITIES	$8.4B
Common Stock	$1M
Additional Paid-In Capital	$1.8B
Retained Earnings	$5.4B
Treasury Stock	-$9.8B
Accum. Other Comp. Income	-$52M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$2.7B
Minority Interest	$0
TOTAL EQUITY	-$2.7B
TOTAL LIABILITIES & EQUITY	$5.7B
Total Debt	$6.3B
Net Debt	$5.8B