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MSCI MSCI Asset-based fees — Operating revenues

Other product segments

Recurring subscriptions
$600.2M+8.6%
Non-recurring
$26.1M+65.2%

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MORNAsset-based — Consolidated revenue
$95.1M+11.0%

Other financials

Income statement

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Revenue$850.8M+14.1%
Gross profit$709.0M+16.4%
Operating income$456.9M+21.2%
Net income$406.0M+40.7%
EPS (diluted)$5.53+49.1%

Balance sheet

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Cash & equivalents$385.3M+6.8%
Total debt$6.6B+40.1%
Total equity-$2.8B-189%
Total assets$5.5B+3.8%

Cash flow

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Operating cash flow$306.8M+1.7%
CapEx$2.8M-75.9%
Free cash flow$304.0M+4.8%

Valuation

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Market cap$39.64B-5.9%
Enterprise value$45.83B-1.4%
P/E30×-6.9×
P/S12.2×-2.2×

Profitability

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Gross margin82.9%+0.7pp
Operating margin55.4%+1.8pp
Net margin40.7%+1.7pp
FCF margin48.3%-1.8pp

Returns & leverage

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Return on equity113.8%
Debt / equity6.8×
Current ratio0.9×0.0×

Where this comes from

Reported directly by MSCI in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: MSCI’s 10-Q, filed April 21, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MSCI's asset-based fees — operating revenues?
MSCI (MSCI) reported asset-based fees — operating revenues of $224.5M in Q1 2026.
How has MSCI's asset-based fees — operating revenues changed year-over-year?
MSCI's asset-based fees — operating revenues increased by 26.6% year-over-year, from $177.4M to $224.5M.
What is the long-term trend for MSCI's asset-based fees — operating revenues?
Over 4 years (2021 to 2025), MSCI's asset-based fees — operating revenues has grown at a 8.6% compound annual growth rate (CAGR), from $553.99M to $770.66M.
What does asset-based fees — operating revenues mean?
This metric represents the recurring revenue generated from fees tied to the total value of assets under management (AUM) linked to the company's proprietary indexes. These fees are typically calculated as a percentage of the assets in investment products, such as ETFs or mutual funds, that benchmark against the company's index offerings. It serves as a primary indicator of the company's market penetration and the scale of capital utilizing its financial data products.