MSCI MSCI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Operating revenues by Business | ||||||
| All Other - Private Assets | $72.6M+2.5% | $70.86M+1.3% | $69.97M-1.8% | $71.23M+5.8% | $67.3M+3.0% | |
| Analytics | $190M+4.2% | $182.34M+0.1% | $182.17M+2.5% | $177.7M+3.2% | $172.2M-0.3% | |
| Index | $496.3M+3.6% | $479.07M+6.2% | $451.16M+3.8% | $434.83M+3.1% | $421.7M+0.4% | |
| Sustainability and Climate | $91.9M+1.8% | $90.26M+0.1% | $90.13M+1.4% | $88.91M+5.1% | $84.6M-0.7% | |
| Adjusted EBITDA by Business | ||||||
| All Other - Private Assets | $13.7M-14.1% | $15.96M-17.4% | $19.32M-3.1% | $19.94M+40.4% | $14.2M-7.0% | |
| Analytics | $82.8M-1.3% | $83.86M-6.9% | $90.04M-2.8% | $92.61M+21.9% | $76M-9.7% | |
| Index | $375.2M+0.3% | $374.02M+6.8% | $350.26M+6.1% | $330.16M+6.0% | $311.6M-3.6% | |
| Sustainability and Climate | $33M— | —— | $34.81M+9.9% | $31.68M+33.1% | $23.8M— | |
| Adjusted EBITDA expenses by Business | ||||||
| Analytics | $107.2M+8.9% | $98.48M+6.9% | $92.13M+8.3% | $85.1M-11.5% | $96.2M+8.5% | |
| Index | $121.1M+15.3% | $105.06M+4.1% | $100.9M-3.6% | $104.68M-4.9% | $110.1M+13.5% | |
| Sustainability and Climate | $58.9M— | —— | $55.32M-3.3% | $57.23M-5.9% | $60.8M— | |
| Acquisitions by Business | ||||||
| All Other - Private Assets | $11.6M— | $0— | $0— | $0— | $0— | |
| Analytics | $0— | $0— | $0— | $0— | $0-100% | |
| Index | $31.1M— | $0— | $0— | $0— | $0-100% | |
| Sustainability and Climate | $0— | $0— | $0— | $0— | $0+100% | |
| Goodwill by Business | ||||||
| All Other - Private Assets | $1.32B+0.8% | $1.31B0.0% | $1.31B0.0% | $1.31B+0.1% | $1.31B0.0% | |
| Analytics | $296.9M0.0% | $296.9M0.0% | $296.88M0.0% | $296.88M0.0% | $296.88M0.0% | |
| Index | $1.26B+2.3% | $1.23B0.0% | $1.23B-0.1% | $1.23B+0.3% | $1.23B+0.1% | |
| Sustainability and Climate | $85.6M-0.8% | $86.3M-0.1% | $86.38M-0.8% | $87.06M+2.7% | $84.8M+1.3% | |
| Foreign exchange translation adjustment by Business | ||||||
| All Other - Private Assets | -$500K— | —— | —— | $1.24M+108% | $596K+143% | |
| Analytics | $0— | $0— | $0— | $0— | $0— | |
| Index | -$2.6M— | —— | —— | $3.54M+108% | $1.7M+148% | |
| Sustainability and Climate | -$700K— | —— | —— | $2.27M+108% | $1.09M+766% | |
| Operating revenues by Product | ||||||
| Asset-based fees | $224.5M+6.1% | $211.67M+7.2% | $197.52M+7.3% | $184.07M+3.8% | $177.4M+1.2% | |
| Non-recurring | $26.1M-2.0% | $26.63M+58.0% | $16.85M-34.8% | $25.84M+63.5% | $15.8M-36.5% | |
| Recurring subscriptions | $600.2M+2.7% | $584.23M+0.9% | $579.06M+2.9% | $562.77M+1.8% | $552.6M+1.7% | |
| Operating revenues by Geography | ||||||
| Japan | $37.1M+13.0% | $32.84M+0.9% | $32.53M+1.5% | $32.04M+6.1% | $30.2M+1.4% | |
| Other | $36.9M+3.7% | $35.59M+2.1% | $34.85M-4.6% | $36.54M+8.4% | $33.7M+2.2% | |
| United Kingdom | $149.7M+1.6% | $147.36M+6.7% | $138.12M+2.9% | $134.28M+8.6% | $123.7M-3.2% | |
| United States | $340.5M+2.9% | $330.91M+2.1% | $324.17M+4.6% | $309.95M+2.5% | $302.4M+0.7% | |
| Revenue by Geography | ||||||
| Other | $98.4M+5.6% | $93.17M+5.5% | $88.34M-0.2% | $88.55M+2.1% | $86.7M-0.7% | |
| Other | $188.2M+3.0% | $182.66M+4.1% | $175.41M+2.4% | $171.33M+1.3% | $169.1M+2.2% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does MSCI break its business down?
- MSCI (MSCI) reports operating revenues by business across 4 parts — All Other - Private Assets, Analytics, Index and Sustainability and Climate. Each is extracted from the segment footnotes and tracked over time.
- Where does MSCI's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in MSCI's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
