MSCI Inc. (NYSE: MSCI) reported a 9.7% increase in full year 2025 operating revenue, which reached $3,134.5 million compared to $2,856.1 million in the preceding year. This growth was primarily driven by a 20.7% surge in asset-based fees and a 7.5% rise in recurring subscription revenues across its Index and Analytics divisions. For the 12-month period ended December 31, 2025, the company’s net income rose to $1.20 billion, representing an 8.4% year-over-year expansion.
The market capitalization of the New York-listed financial data provider is $45.82 billion based on the latest closing data.
Latest Quarterly Results
In the fourth quarter of 2025, MSCI reported consolidated revenue of $822.5 million, representing a 10.6% increase compared to the same period in the previous year. Net profit for the quarter was $284.7 million, a decline of 6.8% year-over-year.
Segment performance for the fourth quarter was as follows:
- Index: $479.1 million revenue, up 14.0%
- Analytics: $182.3 million revenue, up 5.5%
- Sustainability & Climate: $90.3 million revenue, up 5.9%
- Private Assets: $70.9 million revenue, up 8.4%
Full Year Results Context
MSCI Inc. reported a 9.7% increase in full year 2025 operating revenue, which reached $3,134.5 million compared to $2,856.1 million in the preceding year. This growth was primarily driven by a 20.7% surge in asset-based fees and a 7.5% rise in recurring subscription revenues across its Index and Analytics divisions. For the 12-month period ended December 31, 2025, the company’s net income rose to $1.20 billion, representing an 8.4% year-over-year expansion.
Guidance & Outlook
For the 2026 fiscal year, MSCI issued guidance for total operating expenses in the range of $1.40 billion to $1.45 billion. The company anticipates an effective tax rate between 18.5% and 21.5%. Investors are monitoring the impact of recurring subscription growth and retention rates across ESG products.
