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MSCI MSCI Index — Adjusted EBITDA expenses

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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$40.39B-9.3%
Enterprise value$46.58B-4.6%
P/E30.6×-7.2×
P/S12.5×-2.4×

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 msci:AdjustedEBITDAExpense.

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 index — adjusted EBITDA expenses?
MSCI (MSCI) reported index — adjusted EBITDA expenses of $121.1M in Q1 2026.
How has MSCI's index — adjusted EBITDA expenses changed year-over-year?
MSCI's index — adjusted EBITDA expenses increased by 10.0% year-over-year, from $110.1M to $121.1M.
What is the long-term trend for MSCI's index — adjusted EBITDA expenses?
Over 3 years (2022 to 2025), MSCI's index — adjusted EBITDA expenses has grown at a 9.8% compound annual growth rate (CAGR), from $317.8M to $420.73M.
What does index — adjusted EBITDA expenses mean?
This metric captures the operating costs associated with the Index segment, excluding non-cash items like depreciation, amortization, and stock-based compensation. It provides a clear view of the cash-based operational efficiency and the cost structure required to maintain and grow the index business. Investors use this to evaluate the segment's operating leverage.