MSCI Inc. (LON:0A8Y)

MSCI Inc. Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	3,134	2,856	2,529	2,249	2,044
Revenue Growth (YoY)	9.74%	12.94%	12.47%	10.03%	20.54%
Cost of Revenue	550.37	514.38	446.58	404.34	358.68
Gross Profit	2,584	2,342	2,082	1,844	1,685
Selling, General & Admin	500.05	467.9	428.04	407.66	376.74
Research & Development	177.6	158.65	132.12	107.21	111.56
Amortization of Goodwill & Intangibles	169.48	164.04	114.43	91.08	64.58
Operating Expenses	870.53	807.57	695.94	633.57	583.2
Operating Income	1,714	1,534	1,386	1,211	1,102
Interest Expense	-209.89	-185.5	-186.68	-171.57	-159.61
Interest & Investment Income	16.01	21.28	34.48	11.77	1.5
Currency Exchange Gain (Loss)	-	-4.8	-4.5	-	-
Other Non Operating Income (Expenses)	-25.43	-0.53	-0.76	-2.28	4.96
EBT Excluding Unusual Items	1,494	1,365	1,229	1,049	948.51
Merger & Restructuring Charges	-	-6.95	-2.43	-4.06	-6.87
Gain (Loss) on Sale of Investments	-	-	143.03	-	-
Asset Writedown	-	-	-0.48	-0.71	-24.4
Other Unusual Items	-	-1.51	-	-	-59.1
Pretax Income	1,494	1,356	1,369	1,044	858.14
Income Tax Expense	291.95	247.04	220.47	173.27	132.15
Earnings From Continuing Operations	1,202	1,109	1,149	870.57	725.98
Net Income	1,202	1,109	1,149	870.57	725.98
Net Income to Common	1,202	1,109	1,149	870.57	725.98
Net Income Growth	8.40%	-3.44%	31.94%	19.92%	20.63%
Shares Outstanding (Basic)	77	79	79	81	83
Shares Outstanding (Diluted)	77	79	80	81	83
Shares Change (YoY)	-2.94%	-1.11%	-1.69%	-2.71%	-1.23%
EPS (Basic)	15.72	14.09	14.45	10.78	8.80
EPS (Diluted)	15.69	14.05	14.39	10.72	8.70
EPS Growth	11.67%	-2.36%	34.23%	23.22%	22.19%
Free Cash Flow	1,549	1,468	1,213	1,082	916.05
Free Cash Flow Per Share	20.21	18.59	15.20	13.32	10.97
Dividend Per Share	7.200	6.400	5.520	4.580	3.640
Dividend Growth	12.50%	15.94%	20.52%	25.82%	24.66%
Gross Margin	82.44%	81.99%	82.34%	82.02%	82.45%
Operating Margin	54.67%	53.72%	54.82%	53.84%	53.91%
Profit Margin	38.36%	38.83%	45.42%	38.72%	35.53%
Free Cash Flow Margin	49.42%	51.39%	47.98%	48.11%	44.83%
EBITDA	1,906	1,654	1,480	1,301	1,173
EBITDA Margin	60.82%	57.92%	58.51%	57.86%	57.39%
D&A For EBITDA	192.89	120.02	93.31	90.26	71.14
EBIT	1,714	1,534	1,386	1,211	1,102
EBIT Margin	54.67%	53.72%	54.82%	53.84%	53.91%
Effective Tax Rate	19.54%	18.22%	16.10%	16.60%	15.40%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.