MSCI Inc.

NYSE-MSCI

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Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Total Revenues	3,055.4	2,856.1	2,528.9	2,248.6	2,043.5	1,695.4	1,557.8	1,434	1,274.2	1,150.7	1,075
Total Revenues %Chg	9%	12.9%	12.5%	10%	20.5%	8.8%	8.6%	12.5%	10.7%	7%	7.9%
Operating Revenues
Operating Revenues(1)
Cost of Sales	538.6	514.4	446.6	404.3	358.7	291.7	295	287.3	273.7	252.1	267.7
Cost of Services
Cost of Revenues (Exclusive of Depreciation and Amortization)
Gross Profit	2,516.9	2,341.7	2,082.3	1,844.3	1,684.9	1,403.7	1,262.8	1,146.6	1,000.5	898.6	807.3
Gross Profit Margin	82.4%	82%	82.3%	82%	82.4%	82.8%	81.1%	80%	78.5%	78.1%	75.1%
Selling, General & Administrative Expenses	495.2	473.6	430.2	411.4	391.1	331.1	329.4	292.8	264.9	253.9	248.3
Selling, General and Administrative
Selling, General and Administrative
Selling and Marketing
General and Administrative
Depreciation & Amortization Expenses	191.6	181	135.4	118	109.5	86.7	79.4	85.5	80	81.4	77.8
Amortization of Intangible Assets
Depreciation and Amortization of Property, Equipment and Leasehold Improvements
Amortization of Intangible Assets
Depreciation and Amortization of Property, Equipment and Leasehold Improvements
Research & Development Expenses	174.9	158.7	132.1	107.2	111.6	101.1	98.3	81.4	75.8	75.2	77.3
Research and Development
Other Operating Expenses	—	—	—	—	—	—	—	—	—	—	—
Restructuring
Restructuring
Operating Profit	1,655.1	1,528.5	1,384.6	1,207.6	1,072.7	884.8	755.7	686.9	579.8	488.1	403.9
Operating Income
Operating Margin	54.2%	53.5%	54.8%	53.7%	52.5%	52.2%	48.5%	47.9%	45.5%	42.4%	37.6%
Interest and Investment Income	15.8	21.3	177.5	11.8	1.5	5	16.4	19.7	6.3	2.9	1.2
Interest Income(1)
Interest Income
Gain on Remeasurement of Equity Method Investment
Interest and Other Income, Net
Interest Expense	-191.8	-185.5	-186.7	-171.6	-159.6	-156.3	-148	-133.1	-116.1	-101.7	-62.4
Interest Expense(1)
Interest Expense
Interest Expense and Other, Net
Non-Operating Income	-196.8	-180.5	-21.9	-167.8	-271.1	-245.8	-173.1	-0.6	-116	-105.6	-47.5
Other Income
Interest and Other Income, Net
Interest Expense and Other, Net
Other Expense
Other Expense, Net
Total Non-Operating Income	-372.8	-344.7	-31.1	-327.6	-429.2	-397.1	-304.8	-114	-225.7	-204.3	-108.7
Income Before Provision for Income Taxes	1,468.8	1,356.2	1,369.1	1,043.8	858.1	686.2	603.3	629.9	466.9	385.9	349.6
Income Before Provision for Income Taxes
Provision for Income Taxes	245.6	247	220.5	173.3	132.2	84.4	39.7	122	162.9	125.1	119.5
Provision for Income Taxes
Consolidated Net Income	1,223.2	1,109.1	1,148.6	870.6	726	601.8	563.6	507.9	304	260.9	230
Net Income Attributable to Minority Interests and Other	—	—	—	—	—	—	—	—	—	—	—
Cumulative Effect of Change in Accounting Principle
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—	—	—	—	—	-6.4
Discontinued Operations
Income from Discontinued Operations(1)
Income from Discontinued Operations
Provision for Income Taxes on Discontinued Operations
Income from Discontinued Operations
Income from Discontinued Operations, Net of Income Taxes
Net Income Attributable to Common Shareholders	1,223.2	1,109.1	1,148.6	870.6	726	601.8	563.6	507.9	304	260.9	223.6
Net Income
Basic EPS	15.8	14.1	14.5	10.8	8.8	7.2	6.7	5.8	3.4	2.7	2.1
Diluted EPS	15.8	14.1	14.4	10.7	8.7	7.1	6.6	5.7	3.3	2.7	2
Basic Weighted Average Shares Outstanding	77.4	78.7	79.5	80.7	82.5	83.7	84.6	87.2	90.3	96	109.1
Total Shares Outstanding	75.2	77.7	79.1	80	82.4	82.6	84.8	84.2	90.1	91.3	101
Diluted Weighted Average Shares Outstanding	77.6	79	79.8	81.2	83.5	84.5	85.5	89.7	91.9	96.5	109.9
EBITDA	1,870.9	1,734.8	1,543.8	1,350.1	1,206.9	995.6	857.6	772.4	659.8	569.5	481.7
Effective Tax Rate	16.7%	18.2%	16.1%	16.6%	15.4%	12.3%	6.6%	19.4%	34.9%	32.4%	34.2%