MSCI Inc. (MSCI)

MSCI Inc. Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	1,320	1,202	1,109	1,149	870.57	725.98
Depreciation & Amortization	218.67	218.57	206.28	159.22	142.5	134.13
Stock-Based Compensation	119.04	111.34	95.2	71.65	58.09	54.92
Other Adjustments	-17.65	80.25	16.77	-144.38	43.63	-39.1
Change in Receivables	-135.34	-164.24	10.23	-149.53	-6.62	-99.2
Changes in Accounts Payable	0.26	0.56	4.96	-6.04	1.34	-2.2
Changes in Accrued Expenses	38.51	82.21	16.03	26.75	-11.78	33.47
Changes in Income Taxes Payable	-21.99	28.61	16.18	14.72	-49.3	33.9
Changes in Unearned Revenue	97.13	96.43	46.06	171.97	72.75	116.86
Changes in Other Operating Activities	85.18	-67.59	-20.72	-55.41	-25.82	-22.69
Operating Cash Flow	1,594	1,588	1,502	1,236	1,095	936.07
Operating Cash Flow Growth	6.01%	5.78%	21.49%	12.84%	17.02%	15.41%
Capital Expenditures	-30.52	-39.32	-33.76	-22.76	-13.62	-13.51
Purchases of Intangible Assets	-95.24	-90.54	-81.36	-68.09	-59.28	-39.29
Payments for Business Acquisitions	-41.7	-	-27.47	-727.34	-	-955.5
Other Investing Activities	-0.18	-0.2	-1.67	-1.19	-6.44	-27.42
Investing Cash Flow	-167.66	-130.06	-144.26	-819.38	-79.34	-1,036
Long-Term Debt Issued	3,081	2,806	556.88	-	355	1,804
Long-Term Debt Repaid	-1,212	-1,102	-559.06	-8.75	-7.19	-1,052
Net Long-Term Debt Issued (Repaid)	1,869	1,704	-2.19	-8.75	347.81	751.94
Issuance of Common Stock	7.88	6.98	-	-	-	-
Repurchase of Common Stock	-2,686	-2,484	-885.27	-504.19	-1,398	-198.37
Net Common Stock Issued (Repurchased)	-2,678	-2,477	-885.27	-504.19	-1,398	-198.37
Common Dividends Paid	-563.22	-556.52	-509.11	-440.99	-372.92	-302.45
Other Financing Activities	-32.49	-32.23	-5.75	-	-2.77	-21.61
Financing Cash Flow	-1,405	-1,362	-1,402	-953.93	-1,425	229.51
Effect of Exchange Rate Changes on Cash and Cash Equivalents	3.59	9.59	-7.41	5.41	-18.54	-8.93
Net Cash Flow	24.68	105.98	-52.34	-531.87	-427.89	120.93
Free Cash Flow	1,563	1,549	1,468	1,213	1,082	922.56
Free Cash Flow Growth	0.90%	5.54%	20.98%	12.16%	17.26%	16.89%
FCF Margin	48.25%	49.42%	51.39%	47.98%	48.11%	45.15%
Free Cash Flow Per Share	20.69	20.21	18.59	15.20	13.32	11.05
Levered Free Cash Flow	3,576	3,226	1,342	1,428	1,334	1,758
Unlevered Free Cash Flow	1,912	1,698	1,485	1,450	1,123	1,187

Updated Apr 21, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q