MSCI (MSCI) Company Report

A warning from MSCI about opaque shareholding structures triggered panic, sending the Jakarta Composite Index down 8–10% over two days—the worst rout since 1998—erasing roughly US $80 billion in market value.
MSCI will temporarily freeze certain index changes and effectively gave Jakarta until May to improve transparency before risking further action.
Regulators doubled the minimum free-float requirement to 15% and indicated the Danantara sovereign wealth fund may step in, helping to spark a late partial rebound.
Political concerns under President Prabowo Subianto and foreign bond holdings at their lowest in nearly two decades have compounded capital outflows and raised questions about Indonesia’s investability.

7 days ago

Bloomberg

MSCI amends ETF licensing agreement with BlackRock

MSCI

On January 27, 2026, MSCI and BlackRock Fund Advisors executed an amendment extending the Master Index License Agreement for exchange-traded funds through March 31, 2035, with automatic three-year renewals thereafter.
Effective January 1, 2026 (with further adjustments on January 1, 2027), the amendment updates license fees for certain funds—calculated based on assets under management and expense ratios—while preserving existing fee constructs.
No other material changes were made; the revised fee structure is intended to support long-term growth via a price-volume tradeoff.

7 days ago

8-K

MSCI reports Q4 2025 results

MSCI

Earnings

Management Change

MSCI delivered 9.4% index subscription run rate growth (including 16% growth in custom indexes) and 26% asset-based fee run rate growth, with record equity ETF inflows of $67 billion in Q4 (and $204 billion for full year 2025).
Across client segments, MSCI achieved 13% subscription run rate growth and 26% recurrent net new sales growth in hedge funds; nearly 11% subscription run rate growth in wealth managers; and over 9% subscription run rate growth in banks and broker-dealers.
Private capital solutions saw $8 million of new recurring subscription sales, up 86% year-over-year, and analytics subscription run rate grew over 8%, driven by enterprise risk and performance tools.
MSCI extended its ETF agreement with BlackRock through 2035 with fee floor reductions (~0.05 bps effective Jan 2026 and Jan 2027), and provided 2026 guidance reflecting a Q1 tax rate of 18–20%, plus elevated CapEx for a new London office and software capitalization.
President Baer Pettit will retire and step down on March 1, 2026, with Alvise Munari and Jorge Mina set to succeed him as MSCI leadership evolves under CEO Henry Fernandez.

7 days ago

Transcript

MSCI reports Q4 2025 earnings and outlook update

MSCI

Earnings

Guidance Update

Share Buyback

Achieved organic revenue growth of >10%, adjusted EBITDA growth of >13%, and adjusted EPS growth of ~12% in Q4 (and ~14% for FY), marking 11 consecutive years of double-digit EPS growth; repurchased $958 M of shares in Q4 (total $3.3 B over two years).
Generated $65 M in net new subscription sales and $31 M in non-recurring sales (total $96 M), driving a total run rate of $3.3 B (+13%); asset-based fees run rate was $852 M (+26%) and recurring subscriptions $2.4 B (+9%).
Index business saw 9.4% subscription run rate growth (including 16% custom index growth) and record Q4 ETF inflows of $67 B (total $204 B for FY).
2026 outlook includes continued investment in growth initiatives, an expected Q1 tax rate of 18–20%, approximately $100 M higher cash taxes, $90 M of additional interest expense, and $25 M of CapEx for a new London office, underpinning strong free cash flow per share trajectory.

7 days ago

Transcript

MSCI reports Q4 2025 results

MSCI

Earnings

Share Buyback

Guidance Update

Organic revenue +>10%, adjusted EBITDA +13%, and adjusted EPS +12% in Q4 (and +14% for FY 2025).
Total run rate >$3.3 B (+13%), comprising ABF run rate $852 M (+26%) and recurring subscription run rate >$2.4 B (+9%); Q4 net new subscription sales $65 M, non-recurring $31 M.
Record $67 B of Q4 inflows into equity ETFs linked to MSCI indices (full-year inflows $204 B), lifting AUM linked to MSCI indices to ~$7 T.
$958 M of share buybacks in Q4 (avg $560/share) and $3.3 B repurchased over two years (avg $554/share).
2026 guidance reflects continued operating-leverage benefits, increased CapEx (London office build-out, software capitalization), and a Q1 tax rate of 18–20%.

7 days ago

Transcript

MSCI reports Q4 2025 results

MSCI

Earnings

Share Buyback

Guidance Update

Operating revenues rose 10.6% YoY to $822.5 M in 4Q25.
Adjusted EBITDA grew 13.2%, lifting margin to 62.2%; adjusted EPS increased 11.5% to $4.66, while diluted EPS dipped 2.3% to $3.81.
Generated $465 M in free cash flow and returned $1.041 B to shareholders via $906 M in share repurchases and $135 M in dividends.
Issued full‐year 2026 guidance, expecting free cash flow of $1.47–1.53 B and net cash from operations of $1.64–1.69 B.

7 days ago

Presentation

MSCI reports Q4 revenue and profit growth

MSCI

Earnings

Revenue Acceleration/Inflection

MSCI delivered Q4 adjusted EPS of $4.66 (vs. $4.18 a year ago) and revenue of $822.5 million, up 10.6% year-over-year.
Recurring subscriptions accounted for 71% of revenue, while a 20.7% rise in asset-based fees lifted Index revenues 14% to $479.1 million and AUM to about $2.34 trillion.
Profitability expanded, with adjusted EBITDA margin widening to 62.2% and operating margin improving to 56.4%.
Operating expenses rose 6.1% on higher compensation and IT spending; customer retention remained strong at 93.4%; shares fell pre-market on a slight revenue shortfall versus forecasts.

8 days ago

Morningstar

MSCI reports Q4 2025 and full year 2025 results

MSCI

Earnings

Guidance Update

Share Buyback

Operating revenues for Q4 2025 were $822.5 million (up 10.6% YoY) and $3,134.5 million for full year 2025 (up 9.7%).
Adjusted EPS rose to $4.66 in Q4 (up 11.5%) and $17.28 for FY 2025 (up 13.7%).
Returned $2.47 billion to shareholders via share repurchases and declared a $2.05 per share dividend for Q1 2026 (up 13.9%).
Full-year 2026 guidance includes operating expenses of $1.49–$1.53 billion, adjusted EBITDA expense of $1.305–$1.335 billion, net cash from operations of $1.64–$1.69 billion and free cash flow of $1.47–$1.53 billion.

8 days ago

8-K

MSCI reports Q4 and full year 2025 results

MSCI

Earnings

Dividends

Share Buyback

MSCI delivered $822.5 million in fourth-quarter operating revenues, up 10.6% year-over-year with 10.2% organic growth; diluted EPS was $3.81 and adjusted EPS was $4.66, up 11.5%.
Fourth-quarter operating margin was 56.4% and adjusted EBITDA margin was 62.2%; full-year 2025 revenues totaled $3.134 billion (up 9.7%) and adjusted EPS was $17.28 (up 13.7%).
Through January 27, 2026, MSCI repurchased $2.47 billion of stock (4.4 million shares at an average price of $559.85) and the Board declared a $2.05 per share dividend for Q1 2026, a 13.9% increase.

8 days ago

Press Release

MSCI launches consultation on possible upgrade of Greece to Developed Market

MSCI

MSCI has initiated a consultation to upgrade Greece from an Emerging Market to a Developed Market, targeting the August 2026 index review for implementation.
Greece now meets European-developed markets’ accessibility and economic criteria, and MSCI proposes to waive the size and liquidity persistence rule following positive investor feedback.
Consultation feedback is requested by 16 March 2026, with MSCI’s final decision due by 31 March 2026.

Jan 27, 2026, 3:38 PM

Press Release

Fintool News

In-depth analysis and coverage of MSCI.

Markets

Indonesia Faces Worst Market Rout Since 1998 as MSCI Puts Nation on Probation

6d ago

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Earnings Transcripts

Quarterly earnings call transcripts for MSCI.

Q4 2025

Jan 28, 2026

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Q3 2025

Oct 28, 2025

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Q2 2025

Jul 22, 2025

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MSCI (MSCI)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Q4 2025

Executives

Henry Fernandez

Andrew Wiechmann

Baer Pettit

Robert Gutowski

Scott Crum

Board Members

Jacques Perold

June Yang

Linda Riefler

Marcus Smith

Michelle Seitz

Paula Volent

Rajat Taneja

Robert Ashe

Robin Matlock

Sandy Rattray

Analyst Coverage

Ashish Sabadra

Craig Huber

Kelsey Zhu

Scott Wurtzel

Toni Kaplan

Faiza Alwy

Alex Kramm

David Motemaden

Gregory Simpson

Jason Haas

Manav Patnaik

Owen Lau

Russell Quelch

Alexander Hess

Alexander EM Hess

George Tong

Alex Kram

Anja Huang

Brendan

Keen Fai Tong

Kwun Sum Lau

Patrick O'Shaughnessy

Audey Ashkar

Faiza Awi

Joshua Dennerlein

Jun-Yi Xie

Wahid Amin

Latest news

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Indonesia Faces Worst Market Rout Since 1998 as MSCI Puts Nation on Probation

Earnings Transcripts

Q4 2025

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