MSCI Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $3.13B | $2.82B | $2.53B | $2.25B | $2.03B | $1.70B | $1.56B |
| Recurring Subscription | — | — | $2.06B | $1.88B | $1.66B | $1.48B | $1.26B | $1.16B |
| Asset-Based Fees | — | — | $649.2M | $553.3M | $501.0M | $479.2M | $375.4M | $347.0M |
| Non-Recurring | — | — | $111.7M | $96.8M | $87.7M | $75.0M | $57.7M | $51.7M |
| Cost of Revenue | — | — | — | — | — | — | $291.7M | $295.0M |
| Gross Profit | — | — | — | — | — | — | $1.40B | $1.26B |
| Gross Margin | — | — | — | — | — | — | 82.8% | 81.0% |
| Operating Expenses | ||||||||
| Research & Development | — | $177.6M | $158.7M | $132.1M | $107.2M | $111.6M | $101.1M | $98.3M |
| SG&A Expense | — | $180.2M | $182.3M | $154.0M | $146.9M | $147.9M | $114.6M | $110.1M |
| Operating Income | — | $1.71B | $1.53B | $1.38B | $1.21B | $1.07B | $884.8M | $755.7M |
| Operating Margin | — | 54.7% | 54.3% | 54.8% | 53.7% | 52.9% | 52.2% | 48.6% |
| Interest Expense | — | — | — | $186.7M | $171.6M | $159.6M | $156.3M | $148.0M |
| Pretax Income | — | $1.49B | $1.36B | $1.37B | $1.04B | $858.1M | $686.2M | $603.3M |
| Income Tax Expense | — | $292.0M | $247.0M | $220.5M | $173.3M | $132.2M | $84.4M | $39.7M |
| Net Income | — | $1.20B | $1.11B | $1.15B | $870.6M | $726.0M | $601.8M | $563.6M |
| Net Margin | — | 38.4% | 39.4% | 45.4% | 38.7% | 35.8% | 35.5% | 36.2% |
| EPS (Basic) | — | $15.72 | $14.09 | $14.45 | $10.78 | $8.80 | $7.19 | $6.66 |
| EPS (Diluted) | — | $15.69 | $14.05 | $14.39 | $10.72 | $8.70 | $7.12 | $6.59 |
| Shares Outstanding (Basic) | 73.5M | 76.5M | 78.7M | 79.5M | 80.7M | 82.5M | 83.7M | 84.6M |
| Shares Outstanding (Diluted) | 73.5M | 76.6M | 79.0M | 79.8M | 81.2M | 83.5M | 84.5M | 85.5M |
| Dividends Per Share | — | $7.20 | $6.40 | $5.52 | $4.58 | $3.64 | $2.92 | $2.52 |