Live News EQUITY ARTICLE M impact Oct 20, 2026, 04:14 PM UTC

MSCI Q3 Revenue Rises 12.4% to $892 Million, Beating Consensus

MSCI reported third-quarter revenue of $892.0 million, up 12.4% and above the $885.749 million analyst consensus. Index segment revenue increased 18.1% to $532.6 million; the company maintained most 2026 guidance but raised its interest-expense outlook to $288 million-$291 million.

MSCI

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04:23:52 PM UTC

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MSCI (NYSE: MSCI ) reported third-quarter financial results on Tuesday. The transcript from the company's third-quarter earnings call has been provided below. This transcript is brought to you APIs. For real-time access to our entire catalog, please visit for a consultation. View the webcast at Summary MSCI reported a strong Q3 2026 with total revenue growth of 12.4%, asset-based fees (ABF) revenue growth of 25%, and adjusted EPS growth of 14%. The company achieved historic net new sales in Index, Analytics, and Private Capital Solutions, despite challenges in Sustainability and Climate segments. MSCI completed acquisitions, including First Street and Vantager, to enhance its Climate offerings and Private Asset Diligence Platform. The company repurchased $627 million of its shares in Q3, demonstrating strong belief in its growth potential. MSCI's operating metrics showed a total run rate growth of 12% and a retention rate improvement to 95%. Management highlighted AI's role in transforming MSCI into a more holistic analytics company and enabling faster innovation. Future outlook remains positive with a robust pipeline, although Sustainability and Climate segments are expected to have flat to slightly positive net new sales in Q4. The company plans to reinvest savings from AI efficiencies into growth areas, maintaining steady margins while expanding its offerings. MSCI sees strong demand for its products across various client segments, with significant growth in non-asset manager segments like hedge funds and banks. Full Transcript OPERATOR Welcome to the MSCI third quarter 2026 earnings conference call. As a reminder, this call is being recorded at this time. All participants are in a listen-only mode. Later, we will conduct a question-and-answer session where participants are requested to ask one question at a time, then add themselves back into the queue for any additional questions. We will have further instructions for you later on. I would now like to turn the call over to Jeremy Yulin, Head of Investor Relations and Treasurer. You may begin. Jeremy Yulin (Head of Investor Relations and Treasurer) Thank you, operator. Good day and welcome to the MSCI third quarter 2026 earnings conference call. Earlier this morning, we issued a press release announcing our results for the third quarter 2026. This press release, along with an earnings presentation, are available on our website, msci.com, under the Investor Relations tab. Let me remind you that this call contains forward-looking statements, which are governed by the language on the second slide of the presentation. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made, are based on current expectations and current economic conditions, and are subject to risks and uncertainties that may cause actual results to differ materially from the results anticipated in these forward-looking statements. For a discussion of addit

MSCI Inc. (NYSE: MSCI ) delivered double-digit third-quarter revenue growth, led by strong Index performance and higher asset-based fees, while companywide margins remained broadly stable and management entered the fourth quarter with solid momentum. Revenue Growth Stays Strong Third-quarter operating revenue rose 12.4% to $892.0 million, topping the $885.749 million analyst consensus estimate. The quarterly organic revenue increased 12.3%.

Recurring subscription revenue grew 7.7%, and asset-based fees jumped 24.9%. Margins Hold Nearly Flat The quarterly operating income increased 12.2% to $502.1 million. The margin remained flat at 56.3%. The quarterly adjusted EBITDA rose 12.2% to $554.8 million.

The margin remained firm at 62.2%. Index Leads Segment Growth The Index segment remained the strongest contributor, with revenue rising 18.1% to $532.6 million. Asset-based fees, which are reported within the Index segment, increased 24.9%, while recurring subscription revenue grew 11.1%. Index adjusted EBITDA climbed 17.8%, though margin edged down to 77.4% from 77.6%.

Analytics revenue rose 4.8% to $191 million, but adjusted EBITDA fell 4.9% and margin declined to 44.9% from 49.4%, reflecting faster expense growth. Sustainability and Climate revenue increased 4% to $93.7 million, while adjusted EBITDA rose 10.1% and margin improved to 40.8% from 38.6%. Private Assets revenue grew 6.7% to $74.7 million, but adjusted EBITDA fell 4.6% and margin narrowed to 24.8% from 27.6%.

Executive Commentary MSCI Chairman and CEO Henry Fernandez said the company delivered strong third-quarter financial and operating performance, including record recurring net-new sales in Analytics and Private Capital Solutions, its strongest third-quarter recurring net-new sales in Index and another record quarter for asset-based fees. Fernandez also highlighted record performance among asset-owner clients and in Asia-Pacific.

He said those results gave MSCI solid momentum entering the fourth quarter, supported by strong client engagement and demand across both established and newer solutions as the company expands its role in global investing and develops its business for an AI-focused environment. MSCI Maintains 2026 Outlook MSCI kept its full-year operating expense, adjusted EBITDA expense, capex, operating cash flow and free cash flow guidance unchanged. It expects operating expense of $1.535 to $1.575 billion, adjusted EBITDA expense of $1.340 to $1.370 billion. The company expects operating cash flow of $1.655 to $1.705 billion and free cash flow of $1.485 to $1.545 billion.

It raised its interest-expense outlook to $288 million-$291 million. MSCI Stock Price Activity: MSCI shares are trading higher by 4.61% at $589.47 at the time of publication on Tuesday, according to Pro data. Photo via Shutterstock Read Also: TeraWulf Rebounds 5% As CEO Distinguishes Model From Neoclouds