What is the primary revenue source for MSCI Inc. (MSCI)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze MSCI's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out MSCI Inc.'s total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How MSCI Inc. Makes Money: MSCI Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Steady

Revenue and operating profit grew together, indicating healthy core operations.

The largest revenue segment accounts for 70.65% of revenue, indicating concentration.

Operating margin improved by 2.14 percentage points year over year.

Revenue: USD 1.72B
Largest revenue segment share (Recurring Subscriptions): 70.65%
Selling, general and administrative: USD 288.30M
Interest expense: USD 140.10M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Interest expenseInterest expense
RevenueOperating revenues · RevenueFromContractWithCustomerExcludingAssessedTax
Selling, general and administrativesum(SellingAndMarketingExpense, GeneralAndAdministrativeExpense)
Largest revenue segment share (Recurring Subscriptions)Recurring Subscriptions · segment_value / revenue * 100
Operating marginOperating income · operating_income / revenue * 100

Assets

Where is the money tied up, and how is the company financed?

Watch

Current assets do not cover near-term liabilities, indicating short-term funding pressure.

Goodwill accounts for 53.09% of total assets, a high share where impairment could hit earnings and equity.

Goodwill: USD 2.97B
Cash and cash equivalents: USD 356.40M
Property, plant and equipment: USD 93.20M
Total liabilities: USD 8.29B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Total liabilitiesTotal liabilities · Liabilities
Cash and cash equivalentsCash and cash equivalents (includes restricted cash of $3.7 and $3.7 at june 30, 2026 and december 31, 2025, respectively) · CashAndCashEquivalentsAtCarryingValue
GoodwillGoodwill · Goodwill
Property, plant and equipmentProperty, equipment and leasehold improvements, net · PropertyPlantAndEquipmentNet

Some conclusions lack complete source metrics and should be interpreted cautiously.

Cash

Did accounting profit ultimately turn into cash?

Steady

Operating cash flow covers accounting profit, showing good cash conversion.

Operating cash flow equals 90.59% of net income.

Free cash flow remains positive after capital expenditure.

Net income: USD 748.00M
Operating cash flow: USD 677.60M
Cash conversion: 90.59%
Free cash flow: USD 663.80M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Net incomeNet income · NetIncomeLoss
Free cash flowcfo - capex
Cash conversionoperating_cash_flow / net_income * 100
Operating cash flowsum(waterfull.operating)

Shareholders

Did the money earned actually make its way back to shareholders?

Watch

Dividends and net buybacks exceed free cash flow, raising questions about sustainability.

Cash dividends: USD 300.00M
Share repurchases: USD 583.20M
Stock issuance proceeds: USD 13.80M
Net shareholder return: USD 869.40M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)
Stock issuance proceedsProceeds from exercise of stock options · ProceedsFromStockOptionsExercised · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

Please select a report to view

Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?