MSCI MSCI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Operating revenues by Business | ||||||
| All Other - Private Assets | $72.6M+7.9% | $70.86M+8.4% | $69.97M+9.7% | $71.23M+9.7% | $67.3M+4.8% | |
| Analytics | $190M+10.3% | $182.34M+5.5% | $182.17M+5.7% | $177.7M+7.1% | $172.2M+5.0% | |
| Index | $496.3M+17.7% | $479.07M+14.0% | $451.16M+11.4% | $434.83M+9.5% | $421.7M+12.8% | |
| Sustainability and Climate | $91.9M+8.6% | $90.26M+5.9% | $90.13M+7.7% | $88.91M+11.3% | $84.6M+8.6% | |
| Adjusted EBITDA by Business | ||||||
| All Other - Private Assets | $13.7M-3.5% | $15.96M+4.5% | $19.32M+18.7% | $19.94M+14.8% | $14.2M+13.5% | |
| Analytics | $82.8M+8.9% | $83.86M-0.3% | $90.04M-0.3% | $92.61M+13.4% | $76M+5.2% | |
| Index | $375.2M+20.4% | $374.02M+15.7% | $350.26M+11.5% | $330.16M+7.5% | $311.6M+12.2% | |
| Sustainability and Climate | $33M+38.7% | —— | $34.81M+16.1% | $31.68M+32.4% | $23.8M+12.8% | |
| Adjusted EBITDA expenses by Business | ||||||
| Analytics | $107.2M+11.4% | $98.48M+11.1% | $92.13M+12.2% | $85.1M+0.9% | $96.2M+4.8% | |
| Index | $121.1M+10.0% | $105.06M+8.3% | $100.9M+11.2% | $104.68M+16.0% | $110.1M+14.6% | |
| Sustainability and Climate | $58.9M-3.1% | —— | $55.32M+3.1% | $57.23M+2.3% | $60.8M+7.1% | |
| Acquisitions by Business | ||||||
| All Other - Private Assets | $11.6M— | $0— | $0— | $0— | $0+100% | |
| Analytics | $0— | $0-100% | $0— | $0— | $0-100% | |
| Index | $31.1M— | $0-100% | $0— | $0-100% | $0— | |
| Sustainability and Climate | $0— | $0+100% | $0+100% | $0+100% | $0+100% | |
| Goodwill by Business | ||||||
| All Other - Private Assets | $1.32B+0.9% | $1.31B+0.1% | $1.31B0.0% | $1.31B+0.1% | $1.31B+0.1% | |
| Analytics | $296.9M0.0% | $296.9M0.0% | $296.88M+0.3% | $296.88M+0.3% | $296.88M+0.3% | |
| Index | $1.26B+2.5% | $1.23B+0.3% | $1.23B+0.5% | $1.23B+0.9% | $1.23B+2.1% | |
| Sustainability and Climate | $85.6M+0.9% | $86.3M+3.1% | $86.38M— | $87.06M— | $84.8M— | |
| Foreign exchange translation adjustment by Business | ||||||
| All Other - Private Assets | -$500K-184% | —— | —— | $1.24M— | $596K+433% | |
| Analytics | $0— | $0— | $0— | $0— | $0— | |
| Index | -$2.6M-253% | —— | —— | $3.54M+1,072% | $1.7M+686% | |
| Sustainability and Climate | -$700K-164% | —— | —— | $2.27M+1,482% | $1.09M+766% | |
| Operating revenues by Product | ||||||
| Asset-based fees | $224.5M+26.6% | $211.67M+20.7% | $197.52M+17.1% | $184.07M+12.7% | $177.4M+18.1% | |
| Non-recurring | $26.1M+65.2% | $26.63M+7.1% | $16.85M-13.4% | $25.84M+11.4% | $15.8M-5.1% | |
| Recurring subscriptions | $600.2M+8.6% | $584.23M+7.5% | $579.06M+7.9% | $562.77M+7.9% | $552.6M+7.7% | |
| Operating revenues by Geography | ||||||
| Japan | $37.1M+22.8% | $32.84M+10.3% | $32.53M+12.8% | $32.04M+10.6% | $30.2M+13.6% | |
| Other | $36.9M+9.5% | $35.59M+7.9% | $34.85M+6.8% | $36.54M+10.8% | $33.7M+11.0% | |
| United Kingdom | $149.7M+21.0% | $147.36M+15.4% | $138.12M+12.9% | $134.28M+15.5% | $123.7M+9.2% | |
| United States | $340.5M+12.6% | $330.91M+10.2% | $324.17M+8.9% | $309.95M+6.7% | $302.4M+7.7% | |
| Revenue by Geography | ||||||
| Other | $98.4M+13.5% | $93.17M+6.8% | $88.34M+3.3% | $88.55M+8.0% | $86.7M+12.0% | |
| Other | $188.2M+11.3% | $182.66M+10.4% | $175.41M+11.2% | $171.33M+8.9% | $169.1M+11.5% |
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.
