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MSCI

MSCI Inc

US$535.95-1.73% (-US$9.44)
Day's range
US$535.95 – US$549.89
Day's volume
US$259.3m
52-week range
US$506.19 – US$641.54

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MSCI in numbers

Market cap
US$39bn
P/E
28.69
P/B
-14.49
Dividend yield (12m)
1.48%
Net debt/EBITDA
3.20

The 12-month dividend yield of MSCI is 1.48%, above its 5-year average of 0.98%.

MSCI price history

03/10/202502/10/2026
Compare with

MSCI risk and return

Monthly closes adjusted for splits and distributions.

Metric12 months36 months60 months
Return-3.86%+6.59%-9.98%
Volatility (annualised)21.44%20.72%26.20%
Largest drawdown-14.81%-21.97%-34.22%
Positive months7/1218/3627/60

How much did investing in MSCI return?

US$1,000.00 invested on 01/11/2021 would be worth US$900.18 today.

Value today in MSCI
US$900.18
Return over the period
-9.98%
Return per year
-2.12%
In the S&P 500
US$1,690.98

With dividends reinvested, before taxes and costs, at month-end closes. Past returns do not guarantee future ones.

MSCI fundamentals

Valuation

  • P/E
    28.69
  • P/B
    -14.49
  • EV/EBITDA
    23.92
  • EV/EBIT
    24.24
  • EV/Revenue
    13.49
  • P/EBIT
    21.00
  • P/S
    11.69
  • P/OCF
    23.93
  • P/FCF
    24.38
  • Earnings yield
    4.12%
  • PEG ratio
    —
  • Earnings per share
    US$18.68
  • Book value per share
    -US$36.99

Debt

  • Net debt
    US$6bn
  • Net debt/EBITDA
    3.20
  • Net debt/Equity
    -2.24
  • Debt/Equity
    -2.37
  • Current ratio
    0.89
  • Quick ratio
    —
  • Cash ratio
    0.22

Efficiency

  • Gross margin
    —
  • EBITDA margin
    56.43%
  • Operating margin
    55.66%
  • Net margin
    40.74%
  • Asset turnover
    0.60

Profitability

  • ROE
    -50.49%
  • ROA
    24.24%
  • ROIC
    47.48%
  • Payout
    42.56%

Growth

  • Revenue CAGR (5 years)
    12.55%
  • Earnings CAGR (5 years)
    14.15%
  • Revenue growth (year)
    —
  • Earnings growth (year)
    —
  • Revenue growth (quarter)
    —
  • Earnings growth (quarter)
    —

What is MSCI's fair price?

Two classic value formulas, with today's numbers. The current price is US$535.95.

Graham's fair price
—
Does not apply to MSCI: the formula needs positive earnings and book value.

Benjamin Graham paid no more than a P/E of 15 and a P/B of 1.5. Their product, 22.5, times earnings (EPS) and book value per share gives the fair price.

Bazin's ceiling price
US$91.13
83.00% below the price

US$5.47 (5-year average) ÷ 6%

Décio Bazin only bought shares yielding at least 6% a year in distributions. The ceiling price is the average dividend per share of recent years divided by 6%.

Graham ignores growth and debt; Bazin assumes past distributions will repeat. They are reference points for comparison, not a buy recommendation.

MSCI indicators by year

Multiples at each year's closing price; margins and returns from that year's accounts.

Indicator20252024202320222021202020192018
P/E35.0642.0138.9542.7268.5961.2738.8524.48
P/B-15.88-49.57-60.48-36.90-304.60-83.19-285.42-74.67
EV/EBITDA27.5432.8034.7132.9847.6942.5829.8619.64
Dividend yield1.25%1.07%0.98%0.98%0.59%0.65%0.98%1.30%
Earnings per shareUS$16.36US$14.28US$14.52US$10.89US$8.93US$7.29US$6.65US$6.02
Book value per share-US$36.13-US$12.11-US$9.35-US$12.61-US$2.01-US$5.37-US$0.90-US$1.97
ROE-45.29%-117.99%-155.26%-86.37%-444.12%-135.78%-734.74%-305.05%
ROIC45.47%39.54%35.13%40.12%35.22%47.81%47.43%36.80%
Gross margin—————82.79%81.07%79.96%
EBITDA margin55.42%54.11%55.58%54.90%53.91%53.94%50.44%50.09%
Net margin38.36%38.83%45.42%38.72%35.53%35.50%36.18%35.42%
Net debt/EBITDA3.272.652.882.852.492.261.992.33

MSCI financial statements

Line202520242023202220212020
Net revenueUS$3.1bnUS$2.9bnUS$2.5bnUS$2.2bnUS$2bnUS$1.7bn
Cost of sales—————-US$291.7m
Gross profit—————US$1.4bn
EBITDAUS$1.7bnUS$1.5bnUS$1.4bnUS$1.2bnUS$1.1bnUS$914.6m
EBITUS$1.7bnUS$1.5bnUS$1.4bnUS$1.2bnUS$1.1bnUS$884.8m
Net finance result-US$219.3m-US$172.4m-US$15.5m-US$163.8m-US$214.6m-US$198.5m
Profit before taxUS$1.5bnUS$1.4bnUS$1.4bnUS$1bnUS$858.1mUS$686.2m
Income tax-US$292m-US$247m-US$220.5m-US$173.3m-US$132.2m-US$84.4m
Net incomeUS$1.2bnUS$1.1bnUS$1.1bnUS$870.6mUS$726mUS$601.8m

Figures the company filed with the CVM. Debt excludes leases; each quarter is that quarter alone.

Does MSCI pay dividends?

Dividend yield per year

  • 1.04%2017
  • 1.30%2018
  • 0.98%2019
  • 0.65%2020
  • 0.59%2021
  • 0.98%2022
  • 0.98%2023
  • 1.07%2024
  • 1.25%2025
  • 1.15%2026
Payment history
TypeLast day to ownPaymentPer share
Dividend13/08/202628/08/2026US$2.05
Dividend14/05/202629/05/2026US$2.05
Dividend12/02/202627/02/2026US$2.05
Dividend13/11/202528/11/2025US$1.80
Dividend14/08/202529/08/2025US$1.80
Dividend15/05/202530/05/2025US$1.80
Dividend13/02/202528/02/2025US$1.80
Dividend14/11/202429/11/2024US$1.60
Dividend15/08/202430/08/2024US$1.60
Dividend15/05/202431/05/2024US$1.60
Dividend14/02/202429/02/2024US$1.60
Dividend07/11/202330/11/2023US$1.38
See all 40 distributions
Earlier distributions
TypeLast day to ownPaymentPer share
Dividend09/08/202331/08/2023US$1.38
Dividend10/05/202331/05/2023US$1.38
Dividend15/02/202328/02/2023US$1.38
Dividend08/11/202230/11/2022US$1.25
Dividend10/08/202231/08/2022US$1.25
Dividend11/05/202231/05/2022US$1.04
Dividend16/02/202228/02/2022US$1.04
Dividend09/11/202130/11/2021US$1.04
Dividend11/08/202131/08/2021US$1.04
Dividend12/05/202128/05/2021US$0.78
Dividend17/02/202126/02/2021US$0.78
Dividend11/11/202030/11/2020US$0.78
Dividend12/08/202031/08/2020US$0.78
Dividend13/05/202029/05/2020US$0.68
Dividend19/02/202006/03/2020US$0.68
Dividend13/11/201927/11/2019US$0.68
Dividend14/08/201930/08/2019US$0.68
Dividend15/05/201931/05/2019US$0.58
Dividend20/02/201915/03/2019US$0.58
Dividend14/11/201830/11/2018US$0.58
Dividend15/08/201831/08/2018US$0.58
Dividend16/05/201831/05/2018US$0.38
Dividend14/02/201815/03/2018US$0.38
Dividend15/11/201730/11/2017US$0.38
Dividend15/08/201731/08/2017US$0.38
Dividend16/05/201731/05/2017US$0.28
Dividend14/02/201715/03/2017US$0.28
Dividend08/11/201630/11/2016US$0.28

About Msci

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Questions about MSCI

How much is MSCI today?

MSCI is at US$535.95 (-1.73% on the day), last traded on 02/10/2026.

How much did MSCI pay in dividends in 2025?

MSCI paid US$7.20 per share in 2025, a dividend yield of 1.25%.

What are the P/E and P/B of MSCI?

MSCI trades at a P/E of 28.69 and a P/B of -14.49.

How much did MSCI return in 12 months?

MSCI returned -3.86% in 12 months, with annualised volatility of 21.44% and a largest drawdown of -14.81%.