MSCI Inc. Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 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	473.56	430.17	411.44	391.08
Depreciation & Amortization Expenses	192.89	181.02	135.44	117.97	109.49
Research & Development	177.6	158.65	132.12	107.21	111.56
Total Operating Expenses	870.53	813.23	697.73	636.62	612.14
Operating Income	1,714	1,529	1,385	1,208	1,073
Interest Income	16.01	21.28	177.51	11.77	1.5
Interest Expense	-209.89	-185.5	-186.68	-171.57	-159.61
Other Non-Operating Income (Expense)	-25.43	-8.13	-6.38	-4	-56.47
Total Non-Operating Income (Expense)	-219.31	-172.35	-15.55	-163.8	-214.59
Pretax Income	1,494	1,356	1,369	1,044	858.14
Provision for Income Taxes	291.95	247.04	220.47	173.27	132.15
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	922.56
Free Cash Flow Growth	5.54%	20.98%	12.16%	17.26%	16.89%
Free Cash Flow Per Share	20.21	18.59	15.20	13.32	11.05
Dividends 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%	53.52%	54.75%	53.71%	52.49%
Profit Margin	38.36%	38.83%	45.42%	38.72%	35.53%
FCF Margin	49.42%	51.39%	47.98%	48.11%	45.15%
EBITDA	1,932	1,735	1,544	1,350	1,207
EBITDA Margin	61.64%	60.74%	61.05%	60.04%	59.06%
EBIT	1,714	1,529	1,385	1,208	1,073
EBIT Margin	54.67%	53.52%	54.75%	53.71%	52.49%
Effective Tax Rate	19.54%	18.22%	16.10%	16.60%	15.40%

Updated Jan 28, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q