MSCI (MSCI) revenue breakdown
By segment, Index is the largest at 57% of fiscal 2025 revenue; All Other – Private Assets grew fastest, 34% a year over 6 years.
By product, Recurring subscriptions is the largest at 73% of fiscal 2025 revenue; Asset-based fees grew fastest, 13% a year over 7 years.
Revenue by segment
Fiscal years, as MSCI reports them in its 10-K filings; fiscal 2025 total $3.1B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Index | $614M | $719M | $835M | $921M | $1.0B | $1.3B | $1.3B | $1.5B | $1.6B | $1.8B | 57% |
| Analytics | $448M | $458M | $480M | $497M | $514M | $544M | $576M | $616M | $675M | $714M | 23% |
| Sustainability and Climate | — | — | — | $91M | $111M | $166M | $228M | $288M | $327M | $354M | 11% |
| All Other – Private Assets | — | — | — | $49M | $54M | $81M | $141M | $174M | $258M | $279M | 9% |
| All Other | $89M | $97M | $119M | — | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as MSCI reports them in its 10-K filings; fiscal 2025 total $3.1B.
| Products | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|
| Recurring subscriptions | $1.1B | $1.2B | $1.2B | $1.4B | $1.7B | $1.9B | $2.1B | $2.3B | 73% |
| Asset-based fees | $337M | $362M | $400M | $554M | $528M | $558M | $658M | $771M | 25% |
| Non-recurring | $31M | $42M | $47M | $64M | $61M | $100M | $84M | $85M | 3% |
Revenue by region
Fiscal years, as MSCI reports them in its 10-K filings; fiscal 2025 total $3.1B.
| Regions | 2016 | 2017 | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|
| United States | $557M | $622M | $662M | $724M | $837M | $934M | $1.0B | $1.2B | $1.3B | 40% |
| Other | $229M | $250M | $293M | $365M | $454M | $512M | $569M | $632M | $698M | 22% |
| United Kingdom | $176M | $194M | $214M | $262M | $345M | $351M | $408M | $480M | $543M | 17% |
| Other | $92M | $105M | $139M | $193M | $230M | $264M | $295M | $332M | $357M | 11% |
| Other | $45M | $48M | $58M | $71M | $86M | $96M | $112M | $129M | $141M | 4% |
| Japan | $52M | $54M | $67M | $81M | $91M | $91M | $101M | $114M | $128M | 4% |
Questions
Where does MSCI make its money?
In fiscal 2025, by segment: Index $1.8B, Analytics $714M, Sustainability and Climate $354M, All Other – Private Assets $279M.
From MSCI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.