MSCI MSCI
Our research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities, make better investment decisions and unlock innovation. 10-K, Item 1
- Employees
- 6,268
- Headquarters
- New York, NY
- CEO
- Henry A. Fernandez
- Next results
- around Jan 27, 2027
MSCI among Financials peers
Six ratios from the latest 10-K. Each corner is the share of 75 peers the company is above, not a score.
What changed
8 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 6, 2026 against Feb 7, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
10 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 9 checks found nothing to note
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Receivables growing faster than revenueReceivables +20.2% vs revenue +9.7% (+10.5 pts)
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Cash from operations $1.6B vs net income $1.2B (FY ending Dec 31, 2025)
8 more checks with nothing to note
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Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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No longer listed: Table of Content s; Table of Content s. Same as last year: Revenue Recognition - Recurring Subscriptions, Asset-Based Fees, and Non-Recurring Revenues; Goodwill Impairment Assessment - Private Capital Solutions Reporting Unit
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
8 paragraphs in Risk Factors that were not in the 10-K filed Feb 7, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
Our operations rely on the secure collection, retrieval, storage, transmission and other processing of confidential, sensitive, proprietary and other types of data and information that is managed internally and with third-party vendors and service providers. We
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Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
Competitors and new market entrants may use AI to develop products that compete with our offerings at lower price points, with faster time-to-market or with additional or better capabilities, which could impair our ability to compete effectively and put pressure on our revenues and subscriptions. Additionally, AI-enabled tools may allow…
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Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
We have adopted principles and governance frameworks designed to support responsible use, data protection and risk management, but these may prove insufficient to prevent harmful outcomes or may not keep pace with the rapid evolution of AI capabilities and risks.
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Item 1A · new paragraph · not in the 10-K filed Feb 7, 2025 10-K, ITEM 1A
Because the financial services industry is highly regulated, we could become subject to other existing or new regulatory frameworks in the jurisdictions where we operate, which could increase our costs and risks, require changes to our products and services, or otherwise impact our business. Additionally, there has been increased…
New risk paragraphs, against peers
Latest 10-K of each, Financials companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
From the same starting line, FY2016 to FY2025
Revenue, net income and free cash flow, each set to 100 in FY2016. What happened, from the 10-Ks. Not a forecast.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $2.2B | $2.5B | $2.9B | $3.1B |
| Net income | $870.6M | $1.1B | $1.1B | $1.2B |
| Operating cash flow | $1.1B | $1.2B | $1.5B | $1.6B |
| Free cash flow | $1.1B | $1.2B | $1.5B | $1.5B |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$3.1B ▲ 9.7% in FY2025$1.2B ▲ 8.4% in FY2025$1.5B ▲ 5.5% in FY2025
Recent filings
2 filings in the last 30 days · SEC EDGAR
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8-KOct 20, 2026Quarterly results 8-K item 2.02
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10-QOct 20, 2026Quarterly report (10-Q) period ended Sep 30, 2026
About the company
MSCI, New York, NY · from the 10-K filed Feb 6, 2026
Our research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities, make better investment decisions and unlock innovation. Investors all over the world use our tools and solutions to gain insights and improve transparency throughout their investment processes.
- Headquarters
- New York, NY
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Oct 20, 2026
- Incorporated in
- DE
Employees, at the top of the page: "As of December 31, 2025, we employed 6,268 people, of which 51% of MSCI employees were located in the Asia Pacific region, 24% in Europe, Middle East and Africa, 16% in the U" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Feb 6, 2026 (open at SEC), compared with the 10-K filed Feb 7, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
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