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MSCI
MSCI Inc.Stock · Consumer DiscretionaryS&P 500 0.1%
$550.31−$2.20 (-0.40%)as of market close, Jul 24, 2026
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How MSCI makes money

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How does MSCI make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

MSCI Inc. · FY2025 · year ended 2025-12-31
Revenue$3.1BGross profit$3.1B · 100%Cost of revenue$0 · 0%Operating income$1.7B · 55%Operating expenses$1.4B · 45%R&D$178M · 6%SG&A$180M · 6%Selling & marketing$320M · 10%Other opex$743M · 24%Pre-tax income$1.5B · 48%Other expense$219M · 7%Net income$1.2B · 38%Income tax$292M · 9%Recurring Subscriptions$2.3B · 73%Asset Based Fees$771M · 25%Non Recurring$85M · 3%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.