MSCI Inc (MSCI)
NYSE:MSCI
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MSCI
(NYSE:MSCI)
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Rating:77Outperform
Price Target:
$690.00
â–²(21.36% Upside)
Action:ReiteratedDate:04/23/26
The score is driven primarily by strong profitability and cash generation, reinforced by a very positive earnings update (record ABF momentum, strong subscription sales and retention). The uptrending technical setup supports the outlook, but overbought indicators add near-term volatility risk. The key constraints on the score are the negative-equity/rising-debt balance-sheet profile and only moderate valuation support at a ~24x P/E with a modest dividend yield.
Positive Factors
High Subscription Retention
Very high multi-product retention (95.4%) underpins durable recurring revenue, reducing churn risk and giving predictable cash flows. High retention supports multi-year renewals, cross-sell of analytics and ESG products, and preserves operating leverage that sustains margins and FCF generation over time.
Negative Factors
Negative Shareholders' Equity
Persistently negative equity and rising debt create unfavorable leverage optics and constrain financial flexibility. Negative equity complicates leverage metrics, could limit borrowing capacity or increase refinancing costs, and reduces capital structure optionality for larger strategic moves over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
High Subscription Retention
Very high multi-product retention (95.4%) underpins durable recurring revenue, reducing churn risk and giving predictable cash flows. High retention supports multi-year renewals, cross-sell of analytics and ESG products, and preserves operating leverage that sustains margins and FCF generation over time.
Read all positive factors
MSCI (MSCI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$42.87B
Dividend Yield1.24%
Average Volume (3M)494.75K
Price to Earnings (P/E)24.3
Beta (1Y)0.78
Revenue Growth10.86%
EPS Growth20.25%
CountryUS
Employees6,184
SectorFinancial
Sector Strength70
IndustryFinancial - Data & Stock Exchanges
Share Statistics
EPS (TTM)4.55
Shares Outstanding72,800,000
10 Day Avg. Volume508,496
30 Day Avg. Volume494,754
Financial Highlights & Ratios
PEG Ratio3.48
Price to Book (P/B)-16.68
Price to Sales (P/S)14.12
P/FCF Ratio28.58
Enterprise Value/Market Cap1.16
Enterprise Value/Revenue15.34
Enterprise Value/Gross Profit18.52
Enterprise Value/Ebitda25.00
Forecast
1Y Price Target
$691.25Price Target Upside21.58% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)19.62
Revenue Forecast (FY)$3.48B
MSCI Business Overview & Revenue Model
Company Description
MSCI Inc., together with its subsidiaries, provides investment decision support tools for the clients to manage their investment processes worldwide. It operates through four segments: Index, Analytics, ESG and Climate, and All Other Private Asset...
How the Company Makes Money
MSCI primarily makes money by selling subscriptions and licenses for financial indexes, data, analytics, and related services, with revenues largely recurring in nature.
Key revenue streams include:
1) Index revenue: MSCI licenses its indexes for...
MSCI Key Performance Indicators (KPIs)
Any
Adjusted EBITDA by Segment
Shows profitability across different business segments, highlighting which areas are driving earnings and where there might be inefficiencies or opportunities for improvement.
Shows profitability across different business segments, highlighting which areas are driving earnings and where there might be inefficiencies or opportunities for improvement.
Data provided by:
The Fly
The FlyMSCI Earnings Call Summary
Earnings Call Date:Apr 21, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operating and financial beats — double-digit organic revenue growth, robust margin expansion, record ABF run rate, accelerating subscription momentum across Index, Analytics, and Private Capital Solutions, large ETF inflows, meaningful AI-driven product innovation, and active capital return and M&A activity. Offsetting items were concentrated: muted Sustainability & Climate growth and continued headwinds in Real Assets, some lumpiness in Analytics due to implementation timing, modest incremental acquisition-related expenses and a near-term tax/cash timing profile. Overall, the positive drivers (broad-based revenue growth, record ABF flows, rising net new subscription sales, and strategic AI/M&A initiatives) materially outweigh the limited near-term headwinds.Positive Updates
Strong Top-Line and Profit Growth
Organic revenue growth of >13% year-over-year, adjusted EPS growth nearly 14%, and adjusted EBITDA growth almost 19% in Q1 FY2026.
Negative Updates
Sustainability & Climate Muted Growth
New recurring sales in Sustainability and Climate grew modestly but were offset by higher cancels and down-sells; management expects near-term continued pressure and muted growth in this area.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line and Profit Growth
Organic revenue growth of >13% year-over-year, adjusted EPS growth nearly 14%, and adjusted EBITDA growth almost 19% in Q1 FY2026.
Read all positive updates
Company Guidance
MSCI updated guidance modestly: full‑year D&A was increased by $5 million to reflect intangibles from recent acquisitions, and the company said it is trending to the top half of its expense guidance range (assuming very gradual market appreciation in H2 and strong ABF performance); the 2026 effective tax‑rate outlook remains unchanged while Q2 2026 ETR is expected to be 18–20%; Analytics revenue is expected to grow roughly 5% year‑over‑year in Q2; full‑year free cash flow guidance is unchanged (Q2 is seasonally the largest cash‑tax quarter); the three acquisitions (VantageR, Compass, PM Insight) will add a relatively modest amount to run rate and ongoing expenses; MSCI finished March with close to $400 million of cash and has repurchased over $464 million of stock year‑to‑date at an average price of about $556 per share.MSCI Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
38
Negative
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.24B | 3.13B | 2.86B | 2.53B | 2.25B | 2.04B |
| Gross Profit | 2.68B | 2.58B | 2.34B | 2.08B | 1.84B | 1.68B |
| EBITDA | 1.99B | 1.93B | 1.75B | 1.71B | 1.36B | 1.15B |
| Net Income | 1.32B | 1.20B | 1.11B | 1.15B | 870.57M | 725.98M |
Balance Sheet | ||||||
| Total Assets | 5.55B | 5.70B | 5.45B | 5.52B | 5.00B | 5.51B |
| Cash, Cash Equivalents and Short-Term Investments | 385.30M | 515.33M | 405.85M | 457.81M | 993.20M | 1.42B |
| Total Debt | 6.55B | 6.31B | 4.66B | 4.63B | 4.64B | 4.33B |
| Total Liabilities | 8.32B | 8.36B | 6.39B | 6.26B | 6.01B | 5.67B |
| Stockholders Equity | -2.77B | -2.65B | -940.00M | -739.76M | -1.01B | -163.47M |
Cash Flow | ||||||
| Free Cash Flow | 1.54B | 1.55B | 1.47B | 1.15B | 1.02B | 883.27M |
| Operating Cash Flow | 1.59B | 1.59B | 1.50B | 1.24B | 1.10B | 936.07M |
| Investing Cash Flow | -167.66M | -130.06M | -144.25M | -819.38M | -79.33M | -1.04B |
| Financing Cash Flow | -1.40B | -1.36B | -1.40B | -953.93M | -1.43B | 229.50M |
MSCI Technical Analysis
Positive
568.55
Price Trends
548.24
Positive
559.94
Positive
559.64
Positive
Market Momentum
2.38
Negative
59.15
Neutral
86.81
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MSCI, the sentiment is Positive. The current price of 568.55 is above the 20-day moving average (MA) of 545.44, above the 50-day MA of 548.24, and above the 200-day MA of 559.64, indicating a bullish trend. The MACD of 2.38 indicates Negative momentum. The RSI at 59.15 is Neutral, neither overbought nor oversold. The STOCH value of 86.81 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MSCI.
MSCI Risk Analysis
MSCI disclosed 30 risk factors in its most recent earnings report. MSCI reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MSCI Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $126.11B | 22.66 | 13.84% | 0.73% | 8.54% | 24.07% | |
77 Outperform | $42.87B | 24.33 | -74.96% | 1.24% | 10.86% | 20.25% | |
77 Outperform | $8.29B | 15.04 | 27.22% | 1.49% | 6.51% | 9.85% | |
76 Outperform | $79.62B | 29.17 | 66.74% | 0.73% | 8.95% | 20.40% | |
75 Outperform | $51.65B | 23.18 | 15.91% | 1.07% | 5.79% | 50.79% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $6.43B | 15.43 | 25.12% | 0.84% | 8.39% | 10.06% |
* Financial Sector Average
MSCI
MSCI
588.85
45.77
8.43%
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MCO
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455.77
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MORN
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169.03
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NDAQ
Nasdaq
91.32
14.07
18.21%
MSCI Corporate Events
Executive/Board ChangesShareholder Meetings
MSCI Shareholders Back Board, Pay Plan and Auditor
Positive
Apr 23, 2026
MSCI Inc. held its annual meeting of stockholders on April 21, 2026, as a virtual event, with 73,120,206 common shares entitled to one vote each participating. All nominees to the board of directors, including Chief Executive Henry A. Fernandez an...
Executive/Board Changes
MSCI Announces Upcoming Change in Chief Accounting Leadership
Neutral
Mar 31, 2026
MSCI Inc. said that on March 27, 2026, C. Jack Read notified the company of his intention to resign as Global Controller and Chief Accounting Officer to pursue another opportunity, while remaining in his current role and as principal accounting of...
Business Operations and StrategyRegulatory Filings and Compliance
MSCI, BlackRock extend long-term equity index licensing pact
Positive
Jan 28, 2026
On January 27, 2026, MSCI Inc. and BlackRock Fund Advisors amended their existing master index license agreement for exchange-traded funds, extending its term to March 31, 2035, with automatic three-year renewals thereafter unless terminated in ad...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.