MSCI
MSCI stock analysis · Financials · Financial Exchanges & Data
As of · fund-implied per-share value
Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.
View SEC fund filing ↗Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.
View share-count filing ↗Reviewed cash-flow model
Reviewed operating-business exception limited to this annual period. MSCI supplies indexes, research-based data and analytics through recurring subscriptions and asset-based fees. It does not become the investment funds whose assets determine its fees. General operating-business proxies are suitable for this annual period. The PP&E-only cash-flow proxy excludes $90.542m separately capitalized software in FY2025 ($81.356m in FY2024), so it exceeds cash left after that spending. Negative book equity remains negative; buybacks and intangible assets limit the financing-capital ROIC proxy. Business description ↗
Cash-flow proxy: excluded reinvestment
The PP&E-only cash-flow proxy excludes $90.542m of separately capitalized software development. It exceeds cash remaining after this software spending; it is not the issuer's broader free cash flow. Read the cash-flow statement ↗
DCF value
Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -42.2% versus input cap
How this is calculated ↗Reverse DCF
Annual basis · read assumptions below
How this is calculated ↗Relative valuation
7 industry peers · median 24.8×
How this is calculated ↗Historical multiples
7 annual observations · snapshot P/E 33.9× · -33.9% versus history
How this is calculated ↗Free cash flow yield
Annual basis · read assumptions below
How this is calculated ↗ROIC / quality
Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete
How this is calculated ↗Value composite
Requires three valuation yields and at least five covered sector peers.
How this is calculated ↗12–1 price momentum
Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.
How this is calculated ↗Asset growth
Annual basis · read assumptions below
How this is calculated ↗Net payout yield
Annual basis · read assumptions below
How this is calculated ↗Accrual quality
Annual basis · read assumptions below
How this is calculated ↗Fundamental momentum
Annual basis · read assumptions below
How this is calculated ↗Follow the cash
ANNUAL · USDOperating cash flow and reinvestment over time
Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.
Make the assumptions yours
How sensitive is the valuation?
| Return / Growth | 3.0% | 5.0% | 7.0% |
|---|---|---|---|
| 8.0% | $405.94 | $442.92 | $482.68 |
| 10.0% | $297.47 | $323.65 | $351.75 |
| 12.0% | $234.68 | $254.65 | $276.07 |
Annual financial history
Open SEC filings ↗| Fiscal year-end | Revenue | Net income | Operating cash flow | Capital expenditure | Assets |
|---|---|---|---|---|---|
| 2025-12-31 | 3.1B | 1.2B | 1.6B | 39.3M | 5.7B |
| 2024-12-31 | 2.9B | 1.1B | 1.5B | 33.8M | 5.4B |
| 2023-12-31 | 2.5B | 1.1B | 1.2B | 22.8M | 5.5B |
| 2022-12-31 | 2.2B | 870.6M | 1.1B | 13.6M | 5B |
| 2021-12-31 | 2B | 726M | 936.1M | 13.5M | 5.5B |
| 2020-12-31 | 1.7B | 601.8M | 811.1M | 21.8M | 4.2B |
| 2019-12-31 | 1.6B | 563.6M | 709.5M | 29.1M | 4.2B |
| 2018-12-31 | 1.4B | 507.9M | 612.8M | 30.3M | 3.4B |
USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.
Trace the inputs
MODEL ANNUAL PERIOD| Input | Value | SEC tag / source | Filed |
|---|---|---|---|
| revenue | 3.1B | RevenueFromContractWithCustomerExcludingAssessedTax | 2026-02-06 |
| netIncome | 1.2B | ProfitLoss Explicit consolidated amount, including the portion attributable to noncontrolling interests. | 2026-02-06 |
| Parent/common earnings proxy | 1.2B | NetIncomeLoss | 2026-02-06 |
| cfo | 1.6B | NetCashProvidedByUsedInOperatingActivities | 2026-02-06 |
| capex | 39.3M | Reviewed manual correction Reviewed consolidated cash-flow statement capital-expenditure amount retained without changing the existing PP&E proxy definition. The PP&E-only cash-flow proxy excludes $90.542m of separately capitalized software development. It exceeds cash remaining after this software spending; it is not the issuer's broader free cash flow. | 2026-02-06 |
| operatingIncome | 1.7B | OperatingIncomeLoss | 2026-02-06 |
| assets | 5.7B | Assets | 2026-02-06 |
| equity | -2.7B | StockholdersEquity Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income. | 2026-02-06 |
| Parent book equity proxy | -2.7B | StockholdersEquity | 2026-02-06 |
| debt | 6.2B | LongTermDebt | 2026-02-06 |
| shortDebt | — | Not reported under a supported tag | — |
| cash | 515.3M | CashAndCashEquivalentsAtCarryingValue | 2026-02-06 |
| shares | 76.6M | WeightedAverageNumberOfDilutedSharesOutstanding | 2026-02-06 |
| dividends | 556.5M | PaymentsOfDividendsCommonStock | 2026-02-06 |
| buybacks | 2.5B | PaymentsForRepurchaseOfCommonStock | 2026-02-06 |
| issuance | 7M | Reviewed manual correction Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from exercise of stock options: 6975000 USD [us-gaap:ProceedsFromStockOptionsExercised]. All 7 financing lines reconcile exactly to reported financing cash flow -1361990000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction. | 2026-02-06 |