MSCI on NYSE

MSCI

Logo: Unknown author Unknown author, Public domain, via Wikimedia Commons5

American financial service provider

MSCI Inc. (formerly Morgan Stanley Capital International) is an American finance company headquartered in New York City.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

1969Founded1

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  • TickerMSCI on NYSE1
  • IndustryServices-Business Services, NEC1
  • HeadquartersNew York City1
  • Websitewww.msci.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address7 World Trade Center, 250 Greenwich Street 49Th Floor, New York, Ny 100076
  • Filer categoryLarge accelerated filer6
  • LEI549300HTIN2PD78UB7634
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O UNITED AGENT GROUP INC., 19803 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 29165964
7 World Trade Center
Photo: Sweeneyr, CC BY-SA 3.0, via Wikimedia Commons8

MSCI Inc. (formerly Morgan Stanley Capital International) is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

54.7%Operating margin9
38.4%Net margin9
9.7%Revenue growth, 20259
$1.5BFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Recurring Subscriptions brought in 73% of the revenue MSCI broke down this way in fiscal 2025.

  1. Recurring Subscriptions$2.3B973%up 8% from 2024
  2. Asset Based Fees$770.7M925%up 17% from 2024
  3. Non Recurring$85.1M93%up 1% from 2024
Products and services by year
Products and services202320242025
Recurring Subscriptions$1.9B$2.1B$2.3B
Asset Based Fees$557.5M$657.5M$770.7M
Non Recurring$100.1M$84.2M$85.1M

Business segments

Index brought in 57% of the revenue MSCI broke down this way in fiscal 2025.

  1. Index$1.8B957%up 12% from 2024
  2. Analytics$714.4M923%up 6% from 2024
  3. Sustainability and Climate$353.9M911%up 8% from 2024
  4. Other Operating$279.3M99%up 8% from 2024
Business segments by year
Business segments202320242025
Index$1.5B$1.6B$1.8B
Analytics$616.0M$675.1M$714.4M
Sustainability and Climate$287.6M$326.6M$353.9M
Other Operating$173.6M$258.3M$279.3M

Regions

United States brought in 40% of the revenue MSCI broke down this way in fiscal 2025.

  1. United States$1.3B940%up 8% from 2024
  2. Other Europe Middle East And Africa Countries$698.5M922%up 10% from 2024
  3. United Kingdom$543.5M917%up 13% from 2024
  4. Other Asia And Australia Countries$356.8M911%up 7% from 2024
  5. Other America Countries$140.7M94%up 9% from 2024
  6. Japan$127.6M94%up 12% from 2024
Regions by year
Regions202320242025
United States$1.0B$1.2B$1.3B
Other Europe Middle East And Africa Countries$569.0M$632.1M$698.5M
United Kingdom$408.1M$479.7M$543.5M
Other Asia And Australia Countries$295.0M$332.2M$356.8M
Other America Countries$112.0M$128.9M$140.7M
Japan$100.8M$114.2M$127.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development6¢$177.6M
  • Other costs47¢$1.5B
  • Income tax9¢$292.0M
  • Profit38¢$1.2B

Out of $3.1B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Capital spending1¢$39.3M
  • Dividends paid18¢$556.5M
  • Share buybacks81¢$2.5B

Out of $1.6B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9

Financial statements

Revenue101112139$3.1B in 2025+101% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $1.6B$1.6B20192020: $1.7B$1.7B2020+9%2021: $2.0B$2.0B2021+21%2022: $2.2B$2.2B2022+10%2023: $2.5B$2.5B2023+12%2024: $2.9B$2.9B2024+13%2025: $3.1B$3.1B2025+10%
Operating income101112139$1.7B in 2025+127% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $755.7M$755.7M20192020: $884.8M$884.8M2020+17%2021: $1.1B$1.1B2021+21%2022: $1.2B$1.2B2022+13%2023: $1.4B$1.4B2023+15%2024: $1.5B$1.5B2024+10%2025: $1.7B$1.7B2025+12%
Net income101112139$1.2B in 2025+113% since 2019
0$500.0M$1.0B$1.5B2019: $563.6M$563.6M20192020: $601.8M$601.8M2020+7%2021: $726.0M$726.0M2021+21%2022: $870.6M$870.6M2022+20%2023: $1.1B$1.1B2023+32%2024: $1.1B$1.1B2024−3%2025: $1.2B$1.2B2025+8%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Operating revenues$3.1B$2.9B$2.5B
Cost of revenues (exclusive of depreciation and amortization)$550.4M$514.4M$446.6M
Selling and marketing$319.8M$291.2M$276.2M
Research and development$177.6M$158.7M$132.1M
General and administrative$180.2M$182.3M$154.0M
Amortization of intangible assets$169.5M$164.0M$114.4M
Depreciation and amortization of property, equipment and leasehold improvements$23.4M$17.0M$21.0M
Total operating expenses$1.4B$1.3B$1.1B
Operating income$1.7B$1.5B$1.4B
Interest income-$16.0M-$21.3M-$34.5M
Interest expense$209.9M$185.5M$186.7M
Gain on remeasurement of equity method investment$0$0-$143.0M
Other expense (income)$25.4M$8.1M$6.4M
Other expense (income), net$219.3M$172.3M$15.5M
Income before provision for income taxes$1.5B$1.4B$1.4B
Provision for income taxes$292.0M$247.0M$220.5M
Net income$1.2B$1.1B$1.1B
Basic (in USD per share)$15.72$14.09$14.45
Diluted (in USD per share)$15.69$14.05$14.39
Basic (in USD per share)76.5M shares78.7M shares79.5M shares
Diluted (in USD per share)76.6M shares79.0M shares79.8M shares

Compare MSCI with another company

The story

In 1968, Capital International published indices covering the global stock market for non-U.S. markets. In 1986, Morgan Stanley licensed the rights to the indices from Capital International and branded the indices as the Morgan Stanley Capital International (MSCI) indices. By the 1980s, the MSCI indices were the primary benchmark indices outside of the U.S. before being joined by FTSE, Citibank, and Standard & Poor's. After Dow Jones started float weighting its index funds, MSCI followed. In 2004, MSCI acquired Barra, Inc., to form MSCI Barra. In mid-2007, parent company Morgan Stanley decided to divest MSCI. This was followed by an initial public offering of a minority of stock in November 2007. The divestment was completed in 2009. The company is headquartered in New York City.

Some companies in MSCI's peer group include Glass Lewis, Factset, Sovereign Wealth Fund Institute, and S&P.

Acquisitions

In 2010, MSCI acquired RiskMetrics Group, Inc. and Measurisk.

In 2012, MSCI acquired Investment Property Databank.

In 2013, MSCI acquired Investor Force from ICG Group (formerly Internet Capital Group).

In August 2014, MSCI acquired GMI Ratings.

In October 2019, MSCI acquired Carbon Delta, a Zurich-based climate change analytics company.

In September 2021, MSCI acquired Real Capital Analytics.

Read the full text

In August 2023, MSCI completed the acquisition of New Jersey–based private assets data provider, Burgiss Group for $697 million.

Collaborations

In October 2021, MSCI and Cboe Global Markets signed a licensing agreement that would see MSCI grow its options product suite and allow them to work on other projects as well.

In April 2022, MSCI entered into a collaboration with MarketAxess to incorporate MSCI's environmental, social, and governance (ESG) data and MarketAxess' pricing and liquidity indicators into fixed income indices in order to construct portfolios based on this data.

From Wikipedia’s article on MSCI, shared under CC BY-SA 4.0.7

Leadership

Who has led MSCI, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (40)

Timeline

  1. Nov 15, 2007Went public Listed on NYSE1
  2. Nov 14, 2007New chief executive Henry A. Fernandez becomes CEO17
  3. 1969Founded Founded1

Filings

364 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 53 major events, 239 insider forms, 11 large holders, 41 other. The latest 20:

  1. Oct 14, 20264 EDGAR
  2. Oct 13, 2026144 EDGAR
  3. Sep 4, 20264 EDGAR
  4. Sep 1, 20264 EDGAR
  5. Sep 1, 20264 EDGAR
  6. Sep 1, 20264 EDGAR
  7. Aug 7, 20268-K EDGAR
  8. Jul 21, 202610-Q EDGAR
  9. Jul 21, 20268-K EDGAR
  10. Jun 12, 20264 EDGAR
  11. Jun 10, 2026144 EDGAR
  12. Jun 4, 20264 EDGAR
  13. Jun 2, 20264 EDGAR
  14. Jun 2, 20264 EDGAR
  15. Jun 2, 20264 EDGAR
  16. May 18, 20264 EDGAR
  17. May 5, 20264 EDGAR
  18. May 5, 20264 EDGAR
  19. May 5, 20264 EDGAR
  20. May 5, 20264 EDGAR

The 364 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

39 open-market trades by officers, directors and large owners since October 2021: 12 buys and 27 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 2, 2026Taneja RajatDirectorBuy1,786$560.00$1.0MForm 4
Jun 10, 2026Wiechmann Andrew C.Chief Financial OfficerSale450$604.56$272.1KForm 4
May 15, 2026Fernandez Henry AChairman and CEOBuy4,000$562.40$2.2MForm 4
Apr 24, 2026Munari Alvise J.Chief Product OfficerSale10,000$592.04$5.9MForm 4
Mar 17, 2026Wiechmann Andrew C.Chief Financial OfficerSale450$560.00$252.0KForm 4
Feb 18, 2026Ashe Robert G.DirectorBuy3,681$543.21$2.0MForm 4
Feb 17, 2026Fernandez Henry AChairman and CEOBuy800$518.95$415.2KForm 4
Feb 13, 2026Fernandez Henry AChairman and CEOBuy6,000$524.18$3.1MForm 4
Dec 11, 2025Wiechmann Andrew C.Chief Financial OfficerSale450$550.00$247.5KForm 4
Dec 5, 2025Fernandez Henry AChairman and CEOBuy12,500$536.14$6.7MForm 4
Nov 24, 2025Gutowski Robert J.General CounselSale624$558.42$348.5KForm 4
Jul 25, 2025Fernandez Henry AChairman and CEOBuy84$548.69$46.1KForm 4
Jul 24, 2025Fernandez Henry AChairman and CEOBuy12,316$542.83$6.7MForm 4
Jun 5, 2025Pettit CD BaerPresidentSale5,000$563.62$2.8MForm 4
May 5, 2025Pettit CD BaerPresidentSale5,000$552.59$2.8MForm 4
Apr 4, 2025Pettit CD BaerPresidentSale5,000$524.25$2.6MForm 4
Mar 5, 2025Pettit CD BaerPresidentSale5,000$568.36$2.8MForm 4
Feb 24, 2025Fernandez Henry AChairman and CEOBuy5,300$574.51$3.0MForm 4
Dec 5, 2024Fernandez Henry AChairman and CEOBuy2,900$612.80$1.8MForm 4
Aug 28, 2024Gutowski Robert J.General CounselSale1,816$575.00$1.0MForm 4

All 39 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.5,468,585$3.1B0.0%−272,217
Vanguard Capital Management LLC4,644,770$2.6B0.1%−8,306
Vanguard Portfolio Management LLC4,163,745$2.3B0.1%+139,209
Bamco Inc /ny/3,211,753$1.8B2.7%+512,364
State Street Corp3,194,918$1.8B0.1%+79,986
Morgan Stanley2,128,743$1.2B0.1%−116,236
Geode Capital Management, LLC1,950,086$1.1B0.1%−49,524
Viking Global Investors LP1,160,687$650.0M1.9%New
Principal Financial Group Inc1,127,265$631.3M0.3%−219,774
PineStone Asset Management Inc.943,550$528.4M3.3%−33,224
Fiera Capital Corp864,977$484.4M1.8%−116,721
Norges Bank859,813$481.5M0.0%New
Mitsubishi UFJ Asset Management Co., Ltd.858,176$480.6M0.3%+1,481
Invesco Ltd.807,864$452.4M0.0%+146,275
Baillie Gifford & Co796,246$445.9M0.4%−56,111
Millennium Management LLC741,928$415.5M0.3%+129,769
Arrowstreet Capital, Limited Partnership724,058$405.5M0.2%+98,612
Polen Capital Management LLC671,797$376.2M3.2%−257,712
Northern Trust Corp671,620$376.1M0.0%−15,389
Edgewood Management LLC664,098$371.9M3.8%−737,894
Aqr Capital Management LLC658,427$364.1M0.1%+5,404
Charles Schwab Investment Management Inc597,876$334.8M0.0%+32,025
Goldman Sachs Group Inc584,121$327.1M0.0%+126,671
Jpmorgan Chase & Co581,611$324.5M0.0%−181,817
Generation Investment Management Llp538,342$301.5M2.9%+36,176

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

35 trades disclosed by members of Congress, the latest 25. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 27, 2026Alan ArmstrongRepublican, SenateBuy$1,001 - $15,000−11.8%Report
Apr 8, 2025Robert P. Bresnahan, Jr.Republican, HouseBuy$1,001 - $15,000−42.0%Report
Apr 1, 2025Julie JohnsonDemocratic, HouseSale$1,001 - $15,000+36.2%Report
Mar 20, 2025Byron DonaldsRepublican, HouseSale$1,001 - $15,000+34.9%Report
Mar 20, 2025Byron DonaldsRepublican, HouseSale$1,001 - $15,000+34.9%Report
Jan 15, 2025Julie JohnsonDemocratic, HouseBuy$1,001 - $15,000−34.5%Report
Jan 13, 2025Robert P. Bresnahan, Jr.Republican, HouseSale$1,001 - $15,000+33.7%Report
Jul 2, 2024Kathy Manning, HouseBuy$1,001 - $15,000−23.6%Report
Jul 2, 2024Kathy Manning, HouseBuy$1,001 - $15,000−23.6%Report
Feb 1, 2024Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+62.6%Report
Jan 23, 2024Kathy Manning, HouseBuy$1,001 - $15,000−57.2%Report
Jan 23, 2024Kathy Manning, HouseBuy$15,001 - $50,000−57.2%Report
Jan 23, 2024Kathy Manning, HouseBuy$1,001 - $15,000−57.2%Report
Apr 27, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+63.3%Report
Jan 11, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+81.1%Report
Feb 28, 2022Donald S. Beyer, Jr.Democratic, HouseSale$15,001 - $50,000+62.1%Report
Feb 3, 2022Donald S. Beyer, Jr.Democratic, HouseSale$1,001 - $15,000+66.4%Report
Jun 17, 2021Susie LeeDemocratic, HouseSale$1,001 - $15,000+69.1%Report
Mar 18, 2021Donald S. Beyer, Jr.Democratic, HouseSale$1,001 - $15,000+55.4%Report
Feb 16, 2021Peter Meijer, HouseSale$1,001 - $15,000+66.3%Report
Dec 22, 2020Susie LeeDemocratic, HouseBuy$1,001 - $15,000−78.7%Report
Dec 3, 2020Donald S. Beyer, Jr.Democratic, HouseBuy$1,001 - $15,000−73.3%Report
Oct 9, 2020Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+59.3%Report
Jul 14, 2020Donald S. Beyer, Jr.Democratic, HouseSale$15,001 - $50,000+86.2%Report
May 7, 2020Donald S. Beyer, Jr.Democratic, HouseSale$1,001 - $15,000+96.1%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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