MSCI Inc. (MSCI) Stock Price & How to Invest
Last updated July 2026
Short answer
MSCI Inc. (NYSE: MSCI) is a high-margin financial data and index provider whose equity indexes underpin thousands of ETFs and institutional mandates, so the stock trades as a premium-priced compounder tied to the growth of passive investing rather than a value play.
MSCI stock price
As of 2026-07-10, MSCI Inc. (MSCI) last closed at $604.71, up 6.9% over the past year. Over the past 52 weeks it has traded between $511.84 and $643.83.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or MSCI Inc.'s investor relations page. Walnut is informational, not investment advice.
What does MSCI Inc. (MSCI) do?
MSCI Inc. builds and licenses investment tools that asset managers, banks, and asset owners use to construct and measure portfolios. Its four reporting lines are Index (the MSCI World, Emerging Markets, ACWI, and factor indexes that thousands of ETFs and funds track), Analytics (risk and performance models like Barra and RiskMetrics), Sustainability and Climate (formerly ESG and Climate ratings and data), and Private Assets (real-estate and private-capital tools from the Burgiss and RCA acquisitions). The Index unit is the profit engine: it earns recurring subscription fees plus asset-based fees that scale with the assets under management in products linked to MSCI indexes.
The investment picture centers on durable, recurring revenue and very high margins. Roughly the bulk of revenue is subscription-based and renews at high retention rates, and asset-based fees rise as passive investing grows globally. That model produces operating margins above 50% and strong free cash flow that funds dividends and buybacks. The trade-off is valuation: the stock typically carries a premium earnings multiple, so returns depend on MSCI sustaining double-digit growth while fending off larger rivals, fee compression, and any slowdown in flows into index-linked products.
What's driving MSCI Inc. (MSCI)?
1. Passive investing and asset-based fees
MSCI's asset-based fee run rate reached a record roughly $872 million in Q1 2026, up about 25% year over year, driven by rising assets under management in ETFs and funds that license its indexes. As global flows into passive products continue, this line grows with markets and net inflows. It also gives MSCI operating leverage because incremental licensed assets carry very low added cost.
2. Recurring subscriptions and pricing power
The majority of MSCI revenue is recurring subscriptions to indexes, analytics, and sustainability data, historically renewing at retention rates in the low-to-mid 90s. This base gives revenue visibility and supports annual price increases. Analytics and Sustainability and Climate add cross-sell opportunities into the same institutional client base.
3. Sustainability, climate, and private assets expansion
MSCI has expanded beyond equity indexes into ESG and climate data and, via the Burgiss and RCA deals, into private-asset and real-estate analytics. Climate solutions have grown at roughly 20% and private-asset tools are gaining traction. These segments diversify revenue and tap demand for data on harder-to-measure asset classes.
4. Margin expansion and capital returns
Operating margin expanded to about 53.7% in Q1 2026 as revenue outpaced costs. Strong free cash flow funds a growing dividend (declared at $2.05 per share for Q2 2026) and sizable buybacks (roughly $415 million repurchased in Q1 2026). Consistent capital return has been a meaningful part of the total-return story.
What are the risks to MSCI Inc. (MSCI)?
MSCI carries a premium valuation, so any deceleration in subscription growth or index-linked flows can compress the multiple sharply. Net new Index subscription growth has shown some softening, and the indexing market is competitive, with S&P Dow Jones Indices, FTSE Russell (LSEG), Nasdaq, CRSP, and low-cost provider Solactive all pursuing share. Fee compression in passive products and the rise of direct indexing could pressure both asset-based fees and the value of a standard index over time. A large share of asset-based revenue is tied to equity market levels, so a sustained market downturn would lower those fees. Rivals such as Morningstar and Moody's are also strong in ESG and analytics.
How is MSCI Inc. (MSCI) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see MSCI Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$3.2B
- Q1 2026 revenue: ~$851M (up ~14% YoY)
- Operating margin: ~54%
- Market cap: ~$44B
- Trailing P/E: ~34x
- Quarterly dividend: ~$2.05/share
MSCI trades at a premium earnings multiple (trailing P/E in the mid-30s, below its 10-year average near 42) that reflects its recurring revenue, wide moat, and high margins. Q1 2026 revenue grew about 14% to roughly $851 million with net income up sharply and the index asset-based fee run rate at a record. Shares were around $600 with roughly 73 million shares outstanding.
Who competes with MSCI Inc. (MSCI)?
Index providers
S&P Dow Jones Indices (the largest by ETF-tracking assets), FTSE Russell (owned by LSEG), Nasdaq, CRSP, and low-cost challenger Solactive compete directly for index licensing. Together with MSCI, a handful of these providers command the vast majority of U.S. equity ETF assets, making it a concentrated but rivalrous market.
Analytics and risk tools
Bloomberg, FactSet, and S&P Global compete with MSCI's Barra and RiskMetrics analytics for institutional risk, performance, and portfolio-construction tools. These firms leverage broad terminal and data ecosystems to bundle analytics alongside market data.
Sustainability, climate, and private-asset data
Morningstar (via Sustainalytics), Moody's, S&P Global, and LSEG compete in ESG and climate ratings, while private-market data rivals challenge MSCI's Burgiss and RCA franchises. Depth of ESG research and pricing are the main battlegrounds here.
How to invest in MSCI Inc. (MSCI)
There are three common ways to get MSCI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so MSCI sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where MSCI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on MSCI Inc. (MSCI)
MSCI is a wide-moat index and analytics franchise with recurring revenue and strong margins, priced for continued growth in passive assets and data subscriptions.
More on MSCI Inc. (MSCI)
Whether MSCI is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is MSCI a buy?, and where the stock could go from here in the MSCI stock forecast.
For income investors, whether MSCI pays a dividend and how the payout looks is covered in does MSCI pay a dividend?
Build a basket around MSCI with Walnut
Use MSCI Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does MSCI Inc. actually do?
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MSCI builds and licenses investment indexes, risk and performance analytics, and sustainability and private-asset data. Asset managers use its indexes (like MSCI World and Emerging Markets) as benchmarks and as the basis for ETFs, and pay subscription and asset-based fees to use them.
How does MSCI make money?
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Most revenue is recurring subscriptions to its index, analytics, and sustainability data. On top of that, its Index segment earns asset-based fees that scale with the assets under management in ETFs and funds linked to MSCI indexes, so revenue rises as passive investing grows.
Is MSCI the same as the MSCI World index?
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No. MSCI Inc. is the publicly traded company (ticker MSCI). The MSCI World, Emerging Markets, and ACWI indexes are products it creates and licenses. You can invest in funds that track those indexes, or separately own shares of the company itself.
Why does MSCI trade at such a high P/E?
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The market assigns a premium multiple (recently in the mid-30s) because MSCI has recurring revenue, high retention, operating margins above 50%, and steady growth. That premium also means the stock can fall sharply if growth slows or the multiple contracts.
Who are MSCI's main competitors?
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In indexes it competes with S&P Dow Jones Indices, FTSE Russell, Nasdaq, CRSP, and Solactive. In analytics it faces Bloomberg, FactSet, and S&P Global. In ESG and climate data it competes with Morningstar (Sustainalytics), Moody's, and LSEG.
Does MSCI pay a dividend?
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Yes. MSCI pays a quarterly cash dividend (declared at about $2.05 per share for Q2 2026) and also returns cash through share buybacks. The dividend yield is modest because the share price is high, but the company has grown the payout over time.
What are the biggest risks to MSCI?
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Key risks include fee compression in passive products, slowing index-subscription growth, competition from larger and lower-cost rivals, the rise of direct indexing, and sensitivity to equity market levels since asset-based fees fall when markets decline. Its premium valuation adds downside risk if growth disappoints.
How is MSCI exposed to stock market movements?
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A meaningful portion of its Index revenue comes from asset-based fees tied to the assets under management in index-linked funds, which move with market levels and fund flows. A sustained market downturn would lower those assets and the fees MSCI collects, though its subscription revenue is more stable.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with MSCI Inc.'s investor relations page or your broker before making investment decisions.