Morningstar

MSCI Inc MSCI

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Stock XNYS Rating as of
$628.66 −8.58 (1.35%)
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MSCI's Crown Jewel Is Its Wide-Moat Index Business

Rajiv Bhatia

Since going public in 2007, MSCI has emerged as a leader in providing data and software to asset managers and asset owners. Its crown jewel is the index segment, which makes up over 55% of overall revenue and 70% of operating profit. Through early leadership in non-US indexes, MSCI boasts over $18 trillion (December 2025) in benchmarked assets. Because index data is critical to stakeholders that benchmark to MSCI, its index subscriptions have strong retention and pricing power.

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Price vs Fair Value

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MSCI is trading within a range we consider fairly valued.
Price
$628.66
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

MSCI has been a big beneficiary of the shift to passive investments, and it will particularly benefit if non-US equity markets, which have underperformed the US market, rebound sharply.

Bears

With the rise of passive investing, MSCI's index revenue is now more closely linked to asset-based fees, which are more cyclical in nature.

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Trading Information

Previous Close Price
$637.24
Day Range
$622.23–644.77
52-Week Range
$501.08–644.77
Bid/Ask
$615.00 / $628.60
Shares Outstanding
72.80M
Market Cap
$45.77B
Volume/Avg
680,882 / 673,061

Key Statistics

Price/Earnings (Normalized)
35.22
Price/Sales
14.66
Dividend Yield (Trailing)
1.22%
Dividend Yield (Forward)
1.30%
Total Yield
7.09%

Company Profile

MSCI has described its mission as enabling investors to build better portfolios for a better world. MSCI’s largest and most profitable segment is its index segment, where it provides benchmarking to asset managers and asset owners. MSCI boasts over $18 trillion (as of December 2025) in benchmarked assets, including over $2.3 trillion in ETF assets linked to MSCI indexes. The MSCI analytics segment provides portfolio management and risk management analytics software to asset managers and asset owners. In its sustainability and climate segment, MSCI provides ESG data to the investment industry. In private assets, MSCI provides real restate reporting, market data, benchmarking, and analytics to investors and real estate managers.
Sector
Financial Services
Industry
Financial Data & Stock Exchanges
Stock Style Box
Mid Growth
Total Number of Employees
6,319
Website
https://www.msci.com

Competitors

Valuation

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Metric
MSCI
SPGI
FDS
Price/Earnings (Normalized)
 35.2224.4614.71
Price/Book Value
 —4.284.54
Price/Sales
 14.668.673.94
Price/Cash Flow
 28.9621.9611.18
Price/Earnings
MSCI
SPGI
FDS

Financial Strength

Metric
MSCI
SPGI
FDS
Quick Ratio
 0.780.570.56
Current Ratio
 0.860.680.68
Interest Coverage
 7.6122.7013.97
Quick Ratio
MSCI
SPGI
FDS

Profitability

Metric
MSCI
SPGI
FDS
Return on Assets (Normalized)
 24.63%9.23%15.35%
Return on Equity (Normalized)
 —17.19%30.61%
Return on Invested Capital (Normalized)
 41.24%11.68%18.69%
Return on Assets
MSCI
SPGI
FDS

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