Q4 25 EPS
$4.66
BEAT +1.56%
Est. $4.59
Q4 25 Revenue
$822.5M
MISS 0.13%
Est. $823.6M
vs S&P Since Q4 25
-15.4%
TRAILING MARKET
MSCI -9.9% vs S&P +5.6%
Full Year 2025 Results
FY 25 EPS
$17.28
BEAT +0.47%
Est. $17.20
FY 25 Revenue
$3.13B
MISS 0.06%
Est. $3.14B
Market Reaction
Did MSCI Beat Earnings? Q4 2025 Results
MSCI closed out fiscal 2025 on a confident note, delivering a mixed but broadly positive fourth quarter in which adjusted earnings per share of $4.66 beat the $4.55 consensus estimate by 2.42%, even as revenue of $822.53 million fell just fractionall… Read more MSCI closed out fiscal 2025 on a confident note, delivering a mixed but broadly positive fourth quarter in which adjusted earnings per share of $4.66 beat the $4.55 consensus estimate by 2.42%, even as revenue of $822.53 million fell just fractionally short of the $824.28 million Wall Street expected, missing by 0.21%. The top line still expanded 10.6% year over year, marking MSCI's 11th consecutive year of double-digit adjusted EPS growth, with the Index segment doing much of the heavy lifting, as revenues there climbed 14.0% to $479.07 million on record asset-based fee run rates and ETF assets under management linked to MSCI equity indexes reaching $2.34 trillion. Total Run Rate grew 13.0% to $3.30 billion, and free cash flow rose 17.8% to $464.84 million in the quarter. Analysts currently hold a "Moderate Buy" consensus on the stock, reflecting confidence in the company's capital return story, which includes a freshly raised quarterly dividend of $2.05 per share. Looking ahead, MSCI guided full-year 2026 free cash flow of $1.47 billion to $1.53 billion.
Key Takeaways
- • Record asset-based-fee run rate driven by record inflows into ETF products linked to MSCI indexes
- • Best-ever quarter for recurring sales in Index segment
- • Growth from market-cap weighted Index products driving recurring subscription revenue increases
- • ETF AUM linked to MSCI equity indexes reached $2.3 trillion with $66.9 billion in Q4 cash inflows
- • 11th consecutive year of double-digit adjusted EPS growth
- • Recurring subscription revenues up 7.5% and asset-based fees up 20.7%
- • Total Run Rate growth of 13.0% to $3.3 billion
- • New recurring subscription sales up 11.7%
- • Retention Rate of 93.4%
MSCI YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
MSCI Revenue by Segment
With YoY comparisons, source: SEC Filings
“In the fourth quarter, MSCI delivered strong results while achieving a number of key milestones, including our 11th straight year of double-digit adjusted EPS growth, a record asset-based-fee run rate driven by record inflows into ETF products linked to our indexes, and our best-ever quarter for recurring sales in Index.”
— Henry A. Fernandez, Q4 2025 Earnings Press Release
MSCI Earnings Trends
MSCI vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MSCI EPS Trend
Earnings per share: estimate vs actual
MSCI Revenue Trend
Quarterly revenue: estimate vs actual
MSCI Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $4.46 | $4.55 | +2.13% | $850.8M | +1.12% |
| Q4 25 BEAT FY | $4.59 | $4.66 | +1.56% | $822.5M | -0.13% |
| FY Full Year | $17.20 | $17.28 | +0.47% | $3.13B | -0.06% |
| Q3 25 BEAT | $4.37 | $4.47 | +2.33% | $793.4M | -0.55% |
| Q2 25 BEAT | $4.11 | $4.17 | +1.53% | $772.7M | +1.10% |
| Q1 25 BEAT | $3.90 | $4.00 | +2.46% | $745.8M | +0.18% |