MSCI Inc. (MSCI) stock

MSCINYSEServices-Business Services, NECFiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 20, 2026Score 19/308% above fair value

$623.38+4.83 (+0.78%)

Close on Oct 30, 2026Market cap $45.32BP/E 34.1Yield 1.15%

Earnings

MSCI's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report

Jan 27, 2027

Q4 FY2026 · estimated, before the open

Revenue, Q3 FY2026

$892.00M

+12.4% on a year earlier

Adjusted EPS, Q3 FY2026

$5.11

$4.47 a year earlier

Latest guidance

Raised

Oct 20, 2026 · 8 items

Quarterly results

Revenue and earnings per share from each of MSCI's earnings releases, newest first

Quarter	Reported	Revenue	YoY	EPS	Adj. EPS	Source
Q4 FY2026ended Dec 31, 2026	Jan 27, 2027Expected	–	–	–	–	–
Q3 FY2026ended Sep 30, 2026	Oct 20, 2026before the open	$892.00M	+12.4%	$4.86	$5.11	Release
Q2 FY2026ended Jun 30, 2026	Jul 21, 2026before the open	$867.00M	+12.2%	$4.69	$4.94	Release
Q1 FY2026ended Mar 31, 2026	Apr 21, 2026before the open	$850.80M	+14.1%	$5.53	$4.55	Release
Q4 FY2025ended Dec 31, 2025	Jan 28, 2026before the open	$822.50M	+10.6%	$3.81	$4.66	Release
Q3 FY2025ended Sep 30, 2025	Oct 28, 2025before the open	$793.40M	+9.5%	$4.25	$4.47	Release
Q2 FY2025ended Jun 30, 2025	Jul 22, 2025before the open	$772.70M	+9.2%	$3.92	$4.17	Release
Q1 FY2025ended Mar 31, 2025	Apr 22, 2025before the open	$745.80M	+9.7%	$3.71	$4.00	Release
Q4 FY2024ended Dec 31, 2024	Jan 29, 2025before the open	$743.50M	+7.7%	$3.90	$4.18	Release
Q3 FY2024ended Sep 30, 2024	Oct 29, 2024before the open	$724.70M	+15.9%	$3.57	$3.86	Release
Q2 FY2024ended Jun 30, 2024	Jul 23, 2024before the open	$707.90M	+14.0%	$3.37	$3.64	Release
Q1 FY2024ended Mar 31, 2024	Apr 23, 2024before the open	$680.00M	+14.8%	$3.22	$3.52	Release
Q4 FY2023ended Dec 31, 2023	Jan 30, 2024before the open	$690.10M	+19.8%	$5.07	$3.68	Release
Q3 FY2023ended Sep 30, 2023	Oct 31, 2023before the open	$625.40M	+11.6%	$3.27	$3.45	Release
Q2 FY2023ended Jun 30, 2023	Jul 25, 2023before the open	$621.20M	+12.6%	$3.09	$3.26	Release
Q1 FY2023ended Mar 31, 2023	Apr 25, 2023before the open	$592.20M	+5.8%	$2.97	$3.14	Release
Q4 FY2022ended Dec 31, 2022	Jan 31, 2023before the open	$576.20M	+4.8%	$2.67	$2.84	Release
Q3 FY2022ended Sep 30, 2022	Oct 25, 2022before the open	$560.60M	+8.4%	$2.68	$2.85	Release
Q2 FY2022ended Jun 30, 2022	Jul 26, 2022before the open	$551.80M	–	$2.59	$2.78	Release
Q1 FY2022ended Mar 31, 2022	Apr 26, 2022before the open	$559.90M	–	$2.78	$2.98	Release
Q4 FY2021ended Dec 31, 2021	Jan 27, 2022before the open	$549.80M	–	$2.32	$2.51	Release
Q3 FY2021ended Sep 30, 2021	Oct 26, 2021before the open	$517.10M	–	$2.03	$2.53	Release
Q2 FY2021ended Jun 30, 2021	Jul 27, 2021before the open	–	–	–	–	Release
Q1 FY2021ended Mar 31, 2021	Apr 27, 2021before the open	–	–	–	–	Release
Q4 FY2020ended Dec 31, 2020	Jan 28, 2021before the open	–	–	–	–	Release
Q3 FY2020ended Sep 30, 2020	Oct 27, 2020before the open	–	–	–	–	Release

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

MSCI's latest outlook for periods it has not reported yet, compared with what it said before

Metric	Period	Guidance	Before	Change	Given
Free Cash Flownon-GAAP	FY2026	$1.49B – $1.55B	–	New	Oct 20, 2026
Free Cash Flownon-GAAP	FY2026	$1.47B – $1.53B	–	New	Apr 21, 2026
Capital Expenditures	FY2026	$160.00M – $170.00M	–	New	Oct 20, 2026
Capital ExpendituresGAAP	FY2026	$160.00M – $170.00M	–	New	Apr 21, 2026
Adjusted EBITDA Expensenon-GAAP	FY2026	$1.34B – $1.37B	–	New	Oct 20, 2026
Adjusted EBITDA Expensenon-GAAP	FY2026	$1.31B – $1.34B	–	New	Apr 21, 2026
Depreciation & Amortization ExpenseGAAP	FY2026	$195.00M – $205.00M	–	Lowered	Oct 20, 2026
Depreciation & Amortization ExpenseGAAP	FY2026	$190.00M – $200.00M	–	Lowered	Apr 21, 2026
Effective Tax Ratenon-GAAP	FY2026	18% – 19.5%	–	New	Oct 20, 2026
Effective Tax Ratenon-GAAP	FY2026	18% – 20%	–	New	Apr 21, 2026
Interest Expense (including amortization of financing fees)GAAP	FY2026	$288.00M – $291.00M	–	Lowered	Oct 20, 2026
Interest Expense (including amortization of financing fees)GAAP	FY2026	$274.00M – $280.00M	–	Lowered	Apr 21, 2026
Net Cash Provided by Operating ActivitiesGAAP	FY2026	$1.66B – $1.71B	–	Raised	Oct 20, 2026
Net Cash Provided by Operating ActivitiesGAAP	FY2026	$1.64B – $1.69B	–	Raised	Apr 21, 2026
Operating ExpenseGAAP	FY2026	$1.54B – $1.58B	–	New	Oct 20, 2026
Operating ExpenseGAAP	FY2026	$1.49B – $1.53B	–	New	Apr 21, 2026

Guidance history

Every forecast MSCI put in an earnings release, newest first

Given	Metric	Period	Guidance	Change
Oct 20, 2026	Capital Expenditures	FY2026	$160.00M – $170.00M	New
Oct 20, 2026	Free Cash Flow	FY2026	$1.49B – $1.55B	New
Oct 20, 2026	Effective Tax Rate	FY2026	18% – 19.5%	New
Oct 20, 2026	Operating Expense	FY2026	$1.54B – $1.58B	New
Oct 20, 2026	Interest Expense (including amortization of financing fees)	FY2026	$288.00M – $291.00M	Lowered
Oct 20, 2026	Depreciation & Amortization Expense	FY2026	$195.00M – $205.00M	Lowered
Oct 20, 2026	Net Cash Provided by Operating Activities	FY2026	$1.66B – $1.71B	Raised
Oct 20, 2026	Adjusted EBITDA Expense	FY2026	$1.34B – $1.37B	New
Apr 21, 2026	Capital Expenditures	FY2026	$160.00M – $170.00M	New
Apr 21, 2026	Free Cash Flow	FY2026	$1.47B – $1.53B	New
Apr 21, 2026	Effective Tax Rate	FY2026	18% – 20%	New
Apr 21, 2026	Operating Expense	FY2026	$1.49B – $1.53B	New
Apr 21, 2026	Interest Expense (including amortization of financing fees)	FY2026	$274.00M – $280.00M	Lowered
Apr 21, 2026	Depreciation & Amortization Expense	FY2026	$190.00M – $200.00M	Lowered
Apr 21, 2026	Net Cash Provided by Operating Activities	FY2026	$1.64B – $1.69B	Raised
Apr 21, 2026	Adjusted EBITDA Expense	FY2026	$1.31B – $1.34B	New
Oct 28, 2025	Capital Expenditures	FY2025	$120.00M – $130.00M	Raised
Oct 28, 2025	Free Cash Flow	FY2025	$1.41B – $1.47B	Raised
Oct 28, 2025	Effective Tax Rate	FY2025	16% – 18%	Lowered
Oct 28, 2025	Interest Expense (including amortization of financing fees)	FY2025	$205.00M – $209.00M	Raised
Oct 28, 2025	Depreciation & Amortization Expense	FY2025	$185.00M – $195.00M	Lowered
Oct 28, 2025	Operating Expense	FY2025	$1.42B – $1.45B	Lowered
Oct 28, 2025	Net Cash Provided by Operating Activities	FY2025	$1.54B – $1.59B	Raised
Oct 28, 2025	Adjusted EBITDA Expense	FY2025	$1.23B – $1.25B	Raised
Jul 22, 2025	Capital Expenditures	FY2025	$115.00M – $125.00M	New
Jul 22, 2025	Free Cash Flow	FY2025	$1.40B – $1.46B	New
Jul 22, 2025	Effective Tax Rate	FY2025	17.5% – 20%	New
Jul 22, 2025	Depreciation & Amortization Expense	FY2025	$185.00M – $195.00M	New
Jul 22, 2025	Operating Expense	FY2025	$1.41B – $1.45B	New
Jul 22, 2025	Net Cash Provided by Operating Activities	FY2025	$1.53B – $1.58B	Raised
Jul 22, 2025	Adjusted EBITDA Expense	FY2025	$1.22B – $1.25B	New
Apr 22, 2025	Capital Expenditures	FY2025	$115.00M – $125.00M	New
Apr 22, 2025	Free Cash Flow	FY2025	$1.40B – $1.46B	Reaffirmed
Apr 22, 2025	Effective Tax Rate	FY2025	17.5% – 20%	New
Apr 22, 2025	Operating Expense	FY2025	$1.41B – $1.45B	Lowered
Apr 22, 2025	Interest Expense (including amortization of financing fees) (1)	FY2025	$182.00M – $186.00M	Lowered
Apr 22, 2025	Depreciation & Amortization Expense	FY2025	$185.00M – $195.00M	Raised
Apr 22, 2025	Net Cash Provided by Operating Activities	FY2025	$1.53B – $1.58B	Raised
Apr 22, 2025	Adjusted EBITDA Expense	FY2025	$1.22B – $1.25B	Reaffirmed
Jan 29, 2025	Capital Expenditures	FY2025	$115.00M – $125.00M	New
Jan 29, 2025	Free Cash Flow	FY2025	$1.40B – $1.46B	New
Jan 29, 2025	Effective Tax Rate	FY2025	17.5% – 20%	New
Jan 29, 2025	Interest Expense (including amortization of financing fees)	FY2025	$182.00M – $186.00M	New
Jan 29, 2025	Depreciation & Amortization Expense	FY2025	$185.00M – $195.00M	Raised
Jan 29, 2025	Operating Expense	FY2025	$1.41B – $1.45B	New
Jan 29, 2025	Net Cash Provided by Operating Activities	FY2025	$1.53B – $1.58B	Raised
Jan 29, 2025	Adjusted EBITDA Expense	FY2025	$1.22B – $1.25B	New
Jul 23, 2024	Capital Expenditures	FY2024	$95.00M – $105.00M	New
Jul 23, 2024	Free Cash Flow	FY2024	$1.23B – $1.29B	Reaffirmed
Jul 23, 2024	Effective Tax Rate	FY2024	18% – 21%	Reaffirmed
Jul 23, 2024	Operating Expense	FY2024	$1.31B – $1.35B	Lowered
Jul 23, 2024	Interest Expense (including amortization of financing fees)	FY2024	$185.00M – $189.00M	Lowered
Jul 23, 2024	Depreciation & Amortization Expense	FY2024	$175.00M – $185.00M	Lowered
Jul 23, 2024	Adjusted EBITDA Expense	FY2024	$1.13B – $1.16B	Reaffirmed
Jul 23, 2024	Net Cash Provided by Operating Activities	FY2024	$1.33B – $1.38B	Raised
Apr 23, 2024	Capital Expenditures	FY2024	$95.00M – $105.00M	Reaffirmed
Apr 23, 2024	Free Cash Flow	FY2024	$1.23B – $1.29B	Reaffirmed
Apr 23, 2024	Effective Tax Rate	FY2024	18% – 21%	Reaffirmed
Apr 23, 2024	Operating Expense	FY2024	$1.30B – $1.34B	Lowered
Apr 23, 2024	Interest Expense (including amortization of financing fees)	FY2024	$185.00M – $189.00M	Lowered
Apr 23, 2024	Depreciation & Amortization Expense	FY2024	$170.00M – $180.00M	Lowered
Apr 23, 2024	Net Cash Provided by Operating Activities	FY2024	$1.33B – $1.38B	Raised
Apr 23, 2024	Adjusted EBITDA Expense	FY2024	$1.13B – $1.16B	Reaffirmed
Jan 30, 2024	Capital Expenditures	FY2024	$95.00M – $105.00M	New
Jan 30, 2024	Free Cash Flow	FY2024	$1.23B – $1.29B	New
Jan 30, 2024	Effective Tax Rate	FY2024	18% – 21%	New
Jan 30, 2024	Operating Expense	FY2024	$1.30B – $1.34B	New
Jan 30, 2024	Interest Expense (including amortization of financing fees)	FY2024	$185.00M – $189.00M	Lowered
Jan 30, 2024	Depreciation & Amortization Expense	FY2024	$170.00M – $180.00M	Lowered
Jan 30, 2024	Net Cash Provided by Operating Activities	FY2024	$1.33B – $1.38B	Raised
Jan 30, 2024	Adjusted EBITDA Expense	FY2024	$1.13B – $1.16B	New
Oct 31, 2023	Capital Expenditures	FY2023	$85.00M – $95.00M	Raised
Oct 31, 2023	Free Cash Flow	FY2023	$1.06B – $1.12B	Reaffirmed
Oct 31, 2023	Interest Expense (including amortization of financing fees)	FY2023	$187.00M	Lowered
Oct 31, 2023	Depreciation & Amortization Expense	FY2023	$135.00M – $145.00M	Lowered
Oct 31, 2023	Net Cash Provided by Operating Activities	FY2023	$1.15B – $1.20B	Raised
Oct 31, 2023	Adjusted EBITDA Expense	FY2023	$1.00B – $1.02B	Raised
Oct 31, 2023	Effective Tax Rate	FY2023	16.5% – 18%	New
Oct 31, 2023	Operating Expense	FY2023	$1.14B – $1.17B	Lowered
Jul 25, 2023	Capital Expenditures	FY2023	$80.00M – $90.00M	New
Jul 25, 2023	Free Cash Flow	FY2023	$1.06B – $1.12B	Reaffirmed
Jul 25, 2023	Depreciation & Amortization Expense	FY2023	$125.00M – $135.00M	Lowered
Jul 25, 2023	Interest Expense (including amortization of financing fees)	FY2023	$185.00M – $187.00M	Lowered
Jul 25, 2023	Operating Expense	FY2023	$1.09B – $1.13B	Lowered
Jul 25, 2023	Effective Tax Rate	FY2023	17% – 20%	Reaffirmed
Jul 25, 2023	Adjusted EBITDA Expense	FY2023	$965.00M – $995.00M	Reaffirmed
Jul 25, 2023	Net Cash Provided by Operating Activities	FY2023	$1.15B – $1.20B	Raised
Apr 25, 2023	Capital Expenditures	FY2023	$75.00M – $85.00M	Reaffirmed
Apr 25, 2023	Free Cash Flow	FY2023	$1.06B – $1.12B	Reaffirmed
Apr 25, 2023	Operating Expense	FY2023	$1.09B – $1.13B	Lowered
Apr 25, 2023	Adjusted EBITDA Expense	FY2023	$965.00M – $995.00M	Reaffirmed
Apr 25, 2023	Net Cash Provided by Operating Activities	FY2023	$1.15B – $1.20B	Raised
Apr 25, 2023	Depreciation & Amortization Expense	FY2023	$125.00M – $135.00M	Lowered
Apr 25, 2023	Interest Expense (including amortization of financing fees)	FY2023	$184.00M – $187.00M	Lowered
Apr 25, 2023	Effective Tax Rate	FY2023	17% – 20%	Reaffirmed
Jan 31, 2023	Capital Expenditures	FY2023	$75.00M – $85.00M	New
Jan 31, 2023	Free Cash Flow	FY2023	$1.06B – $1.12B	New
Jan 31, 2023	Depreciation & Amortization Expense	FY2023	$125.00M – $135.00M	Lowered
Jan 31, 2023	Interest Expense (including amortization of financing fees)	FY2023	$184.00M – $187.00M	Lowered
Jan 31, 2023	Adjusted EBITDA Expense	FY2023	$965.00M – $995.00M	New
Jan 31, 2023	Effective Tax Rate	FY2023	17% – 20%	New
Jan 31, 2023	Operating Expense	FY2023	$1.09B – $1.13B	New
Jan 31, 2023	Net Cash Provided by Operating Activities	FY2023	$1.15B – $1.20B	Raised
Oct 25, 2022	Capital Expenditures	FY2022	$65.00M – $75.00M	Reaffirmed
Oct 25, 2022	Free Cash Flow	FY2022	$1.03B – $1.08B	Raised
Oct 25, 2022	Operating Expense	FY2022	$1.03B – $1.06B	Lowered
Oct 25, 2022	Effective Tax Rate	FY2022	16% – 17.5%	Narrowed
Oct 25, 2022	Depreciation & Amortization Expense	FY2022	$110.00M – $120.00M	Lowered
Oct 25, 2022	Interest Expense (including amortization of financing fees)	FY2022	$172.00M	Lowered
Oct 25, 2022	Adjusted EBITDA Expense	FY2022	$910.00M – $940.00M	Lowered
Oct 25, 2022	Net Cash Provided by Operating Activities	FY2022	$1.10B – $1.14B	Raised
Jul 26, 2022	Capital Expenditures	FY2022	$65.00M – $75.00M	New
Jul 26, 2022	Free Cash Flow	FY2022	$1.01B – $1.06B	Lowered
Jul 26, 2022	Depreciation & Amortization Expense	FY2022	$105.00M – $115.00M	Lowered
Jul 26, 2022	Interest Expense (including amortization of financing fees)	FY2022	$172.00M	Lowered
Jul 26, 2022	Operating Expense	FY2022	$1.05B – $1.09B	Lowered
Jul 26, 2022	Effective Tax Rate	FY2022	15.5% – 18.5%	Reaffirmed
Jul 26, 2022	Adjusted EBITDA Expense	FY2022	$940.00M – $970.00M	Lowered
Jul 26, 2022	Net Cash Provided by Operating Activities	FY2022	$1.08B – $1.12B	Raised
Apr 26, 2022	Capital Expenditures	FY2022	$60.00M – $70.00M	Reaffirmed
Apr 26, 2022	Free Cash Flow	FY2022	$1.05B – $1.10B	Reaffirmed
Apr 26, 2022	Adjusted EBITDA Expense	FY2022	$975.00M – $1.01B	Reaffirmed
Apr 26, 2022	Net Cash Provided by Operating Activities	FY2022	$1.12B – $1.16B	Raised
Apr 26, 2022	Depreciation & Amortization Expense	FY2022	$100.00M – $110.00M	Lowered
Apr 26, 2022	Interest Expense (including amortization of financing fees)	FY2022	$162.00M	Lowered
Apr 26, 2022	Operating Expense	FY2022	$1.08B – $1.12B	Lowered
Apr 26, 2022	Effective Tax Rate	FY2022	15.5% – 18.5%	Reaffirmed
Jan 27, 2022	Capital Expenditures	FY2022	$60.00M – $70.00M	New
Jan 27, 2022	Free Cash Flow	FY2022	$1.05B – $1.10B	New
Jan 27, 2022	Net Cash Provided by Operating Activities	FY2022	$1.12B – $1.16B	Raised
Jan 27, 2022	Depreciation & Amortization Expense	FY2022	$100.00M – $110.00M	Lowered
Jan 27, 2022	Effective Tax Rate	FY2022	15.5% – 18.5%	New
Jan 27, 2022	Operating Expense	FY2022	$1.08B – $1.12B	New
Jan 27, 2022	Interest Expense (including amortization of financing fees)	FY2022	$162.00M	Lowered
Jan 27, 2022	Adjusted EBITDA Expense	FY2022	$975.00M – $1.01B	New
Oct 26, 2021	Capital Expenditures	FY2021	$50.00M – $60.00M	New
Oct 26, 2021	Free Cash Flow	FY2021	$740.00M – $790.00M	New
Oct 26, 2021	Depreciation & Amortization Expense	FY2021	$110.00M	Lowered
Oct 26, 2021	Interest Expense (including amortization of financing fees)	FY2021	$160.00M	Lowered
Oct 26, 2021	Adjusted EBITDA Expense	FY2021	$840.00M – $860.00M	New
Oct 26, 2021	Effective Tax Rate	FY2021	15% – 16%	New
Oct 26, 2021	Operating Expense	FY2021	$955.00M – $975.00M	New
Oct 26, 2021	Net Cash Provided by Operating Activities	FY2021	$800.00M – $840.00M	Raised

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.