MSCI Inc., together with its subsidiaries, provides investment decision support tools for the clients to manage their investment processes worldwide. It operates through four segments: Index, Analytics, ESG and Climate, and All Other Private Assets. The Index segment provides indexes for use in various areas of the investment process, including indexed product creation, such as ETFs, mutual funds, annuities, futures, options, structured products, over-the-counter derivatives; performance benchmarking; portfolio construction and rebalancing; and asset allocation, as well as licenses GICS and GICS Direct. The Analytics segment offers risk management, performance attribution and portfolio management content, application, and service that provides an integrated view of risk and return, and an analysis of market, credit, liquidity, and counterparty risk across asset classes; managed services, including consolidation of client portfolio data from various sources, review and reconciliation of input data and results, and customized reporting; and HedgePlatform to measure, evaluate, and monitor the risk of hedge fund investments. The ESG and Climate segment provides products and services that help institutional investors understand how ESG factors impact the long-term risk and return of their portfolio and individual security-level investments; and data, ratings, research, and tools to help investors navigate increasing regulation. The All Other Private Assets segment includes real estate market and transaction data, benchmarks, return-analytics, climate assessments and market insights for funds, investors, and managers; business intelligence to real estate owners, managers, developers, and brokers; and offers investment decision support tools for private capital. It serves asset owners and managers, financial intermediaries, wealth managers, real estate professionals, and corporates. MSCI Inc. was incorporated in 1998 and is headquartered in New York, New York.

MSCI Inc.

Operating Revenues

Operating Revenues %Chg

Operating Revenues Common Size

Cost of Revenues (Exclusive of Depreciation and Amortization)

Cost of Revenues (Exclusive of Depreciation and Amortization) %Chg

Cost of Revenues (Exclusive of Depreciation and Amortization) Common Size

Selling and Marketing

Selling and Marketing %Chg

Selling and Marketing Common Size

Research and Development

Research and Development %Chg

Research and Development Common Size

General and Administrative

General and Administrative %Chg

General and Administrative Common Size

Amortization of Intangible Assets

Amortization of Intangible Assets %Chg

Amortization of Intangible Assets Common Size

Depreciation and Amortization of Property, Equipment and Leasehold Improvements

Depreciation and Amortization of Property, Equipment and Leasehold Improvements %Chg

Depreciation and Amortization of Property, Equipment and Leasehold Improvements Common Size

Total Operating Expenses

Total Operating Expenses %Chg

Total Operating Expenses Common Size

Operating Income

Operating Income %Chg

Operating Income Common Size

Interest Income

Interest Income %Chg

Interest Income Common Size

Interest Expense

Interest Expense %Chg

Interest Expense Common Size

Gain on Remeasurement of Equity Method Investment

Gain on Remeasurement of Equity Method Investment %Chg

Gain on Remeasurement of Equity Method Investment Common Size

Other Expense

Other Expense %Chg

Other Expense Common Size

Other Expense, Net

Other Expense, Net %Chg

Other Expense, Net Common Size

Income Before Provision for Income Taxes

Income Before Provision for Income Taxes %Chg

Income Before Provision for Income Taxes Common Size

Provision for Income Taxes

Provision for Income Taxes %Chg

Provision for Income Taxes Common Size

Income from Continuing Operations

Income from Continuing Operations %Chg

Income from Continuing Operations Common Size

Income from Discontinued Operations, Net of Income Taxes

Income from Discontinued Operations, Net of Income Taxes %Chg

Income from Discontinued Operations, Net of Income Taxes Common Size

Net Income

Net Income %Chg

Net Income Common Size

Earnings per Basic Common Share from Continuing Operations

Earnings per Basic Common Share from Continuing Operations %Chg

Earnings per Basic Common Share from Continuing Operations Common Size

Earnings per Basic Common Share from Discontinued Operations

Earnings per Basic Common Share from Discontinued Operations %Chg

Earnings per Basic Common Share from Discontinued Operations Common Size

Basic

Basic %Chg

Basic Common Size

Earnings per Diluted Common Share from Continuing Operations

Earnings per Diluted Common Share from Continuing Operations %Chg

Earnings per Diluted Common Share from Continuing Operations Common Size

Earnings per Diluted Common Share from Discontinued Operations

Earnings per Diluted Common Share from Discontinued Operations %Chg

Earnings per Diluted Common Share from Discontinued Operations Common Size

Diluted

Diluted %Chg

Diluted Common Size

Total Revenues

Total Revenues %Chg

Total Revenues Common Size

Cost of Sales

Cost of Sales %Chg

Cost of Sales Common Size

Gross Profit

Gross Profit %Chg

Gross Profit Common Size

Gross Profit Margin

Gross Profit Margin %Chg

Gross Profit Margin Common Size

Selling, General & Administrative Expenses

Selling, General & Administrative Expenses %Chg

Selling, General & Administrative Expenses Common Size

Depreciation & Amortization Expenses

Depreciation & Amortization Expenses %Chg

Depreciation & Amortization Expenses Common Size

Research & Development Expenses

Research & Development Expenses %Chg

Research & Development Expenses Common Size

Operating Profit

Operating Profit %Chg

Operating Profit Common Size

Operating Margin

Operating Margin %Chg

Operating Margin Common Size

Interest and Investment Income

Interest and Investment Income %Chg

Interest and Investment Income Common Size

Non-Operating Income

Non-Operating Income %Chg

Non-Operating Income Common Size

Total Non-Operating Income

Total Non-Operating Income %Chg

Total Non-Operating Income Common Size

Consolidated Net Income

Consolidated Net Income %Chg

Consolidated Net Income Common Size

Net Income Attributable to Discontinued Operations

Net Income Attributable to Discontinued Operations %Chg

Net Income Attributable to Discontinued Operations Common Size

Net Income Attributable to Common Shareholders

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	3,055.4	2,986.7	2,922	2,856.1	2,802.7	2,703.5
Total Revenues %Chg	9%	10.5%	11.7%	12.9%	16.1%	15%
Operating Revenues
Cost of Sales	538.6	532.2	522.7	514.4	505.4	484.5
Cost of Revenues (Exclusive of Depreciation and Amortization)
Gross Profit	2,516.9	2,454.5	2,399.3	2,341.7	2,297.4	2,219
Gross Profit Margin	82.4%	82.2%	82.1%	82%	82%	82.1%
Selling, General & Administrative Expenses	495.2	485.9	480.5	473.6	467.9	459
Selling and Marketing
General and Administrative
Depreciation & Amortization Expenses	191.6	191.1	186.9	181	175.9	161.6
Amortization of Intangible Assets
Depreciation and Amortization of Property, Equipment and Leasehold Improvements
Research & Development Expenses	174.9	168.7	165.7	158.7	159.4	152.3
Research and Development
Operating Profit	1,655.1	1,608.8	1,566.2	1,528.5	1,494.1	1,446
Operating Income
Operating Margin	54.2%	53.9%	53.6%	53.5%	53.3%	53.5%
Interest and Investment Income	15.8	15.9	19.1	21.3	20.8	25.9
Interest Income
Gain on Remeasurement of Equity Method Investment
Interest Expense	-191.8	-184.9	-185.3	-185.5	-186.9	-187.2
Interest Expense
Non-Operating Income	-196.8	-190.2	-183.4	-180.5	-43.6	-31
Other Expense
Other Expense, Net
Total Non-Operating Income	-372.8	-359.2	-349.6	-344.7	-209.8	-192.3
Income Before Provision for Income Taxes	1,468.8	1,429.2	1,391.3	1,356.2	1,460.7	1,421.4
Income Before Provision for Income Taxes
Provision for Income Taxes	245.6	250.5	249.6	247	253.7	235.7
Provision for Income Taxes
Consolidated Net Income	1,223.2	1,178.7	1,141.8	1,109.1	1,207	1,185.8
Net Income Attributable to Discontinued Operations	—	—	—	—	—	—
Income from Discontinued Operations, Net of Income Taxes
Net Income Attributable to Common Shareholders	1,223.2	1,178.7	1,141.8	1,109.1	1,207	1,185.8
Net Income
Basic EPS	15.8	15.1	14.6	14.1	15.3	15
Diluted EPS	15.8	15.1	14.6	14.1	15.2	14.9
Basic Weighted Average Shares Outstanding	77.4	77.9	78.3	78.7	79	79.1
Total Shares Outstanding	75.2	77.4	77.6	77.7	78.4	78.7
Diluted Weighted Average Shares Outstanding	77.6	78.1	78.5	79	79.2	79.4
EBITDA	1,870.9	1,825.4	1,778.5	1,734.8	1,695.9	1,631.7
Effective Tax Rate	16.7%	17.5%	17.9%	18.2%	17.4%	16.6%