Msci
MSCI on NYSE. Msci sells indexes and investment data to global investors. Market value $40.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Good business, but not cheap right now
Why it could be worth it
What to watch out for
See cheaper Financial services stocks on the list
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $3.70 of spare cash in the past 12 months. A savings account pays about $4.
You pay 25.0 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 38 cents a year. Above 10 is good.
Quality score: 80 of 100. Price score: 48 of 100. Our list needs 70 on quality and 60 on price.
$554.92 a share, 11% above its 1-year low
Over the past year the price has ranged from $501.08 to $644.77.
Expected to report results Tuesday 20 Oct, before the market opens.
Dividend: 1.4% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $2.0bn | $2.2bn | $2.5bn | $2.9bn | $3.1bn |
| Operating margin | |||||
| Operating margin | 52.5% | 53.7% | 54.8% | 53.5% | 54.7% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.08bn | 0.08bn | 0.08bn | 0.08bn | 0.07bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)8 of 9
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsStrong, 13.1% a year
- Buying back its own sharesYes, 9% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $867 million last quarter, up 12% on a year ago.
- Profit: $342 million, up 13% on a year ago.
- It keeps 56 cents of each $1 of sales as operating profit, up from 54 cents a year earlier.
- Spare cash over the past 12 months: $1.5 billion, up from $1.4 billion.
- 6% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $6 billion more than cash, up from $4.2 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $725m |
| December 2024 | $744m |
| March 2025 | $746m |
| June 2025 | $773m |
| September 2025 | $793m |
| December 2025 | $823m |
| March 2026 | $851m |
| June 2026 | $867m |
| Quarter to | Amount |
|---|---|
| September 2024 | $281m |
| December 2024 | $306m |
| March 2025 | $289m |
| June 2025 | $304m |
| September 2025 | $325m |
| December 2025 | $285m |
| March 2026 | $406m |
| June 2026 | $342m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 20 October 2026
- Last annual report (10-K)
- 6 February 2026
- Next quarterly (estimated, 10-Q)
- 20 October 2026
Who owns it
11 long-term investors we follow own it, unchanged from 11 last quarter. 1,082 funds in all.
- Markel GroupTom Gayner
- Value
- $80m
- Share of fund
- 0.6%
- Yacktman Asset ManagementStephen Yacktman
- Value
- $6m
- Share of fund
- <0.1%
- Fenimore Asset Management (FAM Funds)John Fox
- Value
- $320,343
- Share of fund
- <0.1%
- LSV Asset ManagementJosef Lakonishok
- Value
- $90,000
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Viking Global InvestorsAndreas Halvorsen | $650m | 1.9% | New |
| Polen CapitalDan Davidowitz | $376m | 3.2% | Cut |
| Longview PartnersLongview team | $260m | 4.2% | Cut |
| Markel GroupTom Gayner | $80m | 0.6% | |
| FundsmithTerry Smith | $30m | 0.2% | Cut |
| Select Equity GroupGeorge Loening | $24m | 0.1% | Added |
| Yacktman Asset ManagementStephen Yacktman | $6m | <0.1% | |
| Jensen Investment ManagementEric Schoenstein | $4m | <0.1% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $3m | <0.1% | Cut |
| Fenimore Asset Management (FAM Funds)John Fox | $320,343 | <0.1% | |
| LSV Asset ManagementJosef Lakonishok | $90,000 | <0.1% |
Sold out this quarter
- Himalaya CapitalLi LuSold out
Largest holders overall
- BlackRock$3.1bnCut
- Vanguard Capital Management$2.6bn
- Vanguard Portfolio Management$2.3bnAdded
- Bamco$1.8bnAdded
- State Street$1.8bnAdded
- Morgan Stanley$1.2bnCut
- T. Rowe Price Investment Management$1.1bnAdded
- Geode Capital Management$1.1bnCut
- Viking Global Investors$650mNew
- Principal Financial Group$631mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- BlackRock, Inc.Passive investor7.6%Since 31 December 2024
- Vanguard Capital ManagementPassive investor7.3%Since 31 March 2026
- Vanguard Portfolio ManagementPassive investor5.5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.6% | 31 December 2024 | |
Vanguard Capital Management Passive investor | 7.3% | 31 March 2026 | |
Vanguard Portfolio Management Passive investor | 5.5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 3 insiders bought $16m of shares on the open market. 3 sold $7m, $771,552 of it under preset trading plans.
- Taneja RajatDirectorBought
- Date
- 2 September 2026
- Shares
- 1,786
- Price
- $560.00
- Value
- $1m
- Wiechmann Andrew C.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 10 June 2026
- Shares
- 450
- Price
- $604.56
- Value
- $272,052
- Fernandez Henry AChairman and CEO, DirectorBought
- Date
- 15 May 2026
- Shares
- 4,000
- Price
- $562.40
- Value
- $2m
- Munari Alvise J.Chief Product OfficerSold
- Date
- 24 April 2026
- Shares
- 10,000
- Price
- $592.04
- Value
- $6m
- Wiechmann Andrew C.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 17 March 2026
- Shares
- 450
- Price
- $560.00
- Value
- $252,000
- Ashe Robert G.DirectorBought
- Date
- 18 February 2026
- Shares
- 3,681
- Price
- $543.21
- Value
- $2m
- Fernandez Henry AChairman and CEO, DirectorBought
- Date
- 17 February 2026
- Shares
- 800
- Price
- $518.95
- Value
- $415,159
- Fernandez Henry AChairman and CEO, DirectorBought
- Date
- 13 February 2026
- Shares
- 6,000
- Price
- $524.18
- Value
- $3m
- Wiechmann Andrew C.Chief Financial OfficerSoldunder a preset trading plan
- Date
- 11 December 2025
- Shares
- 450
- Price
- $550.00
- Value
- $247,500
- Fernandez Henry AChairman and CEO, DirectorBought
- Date
- 5 December 2025
- Shares
- 12,500
- Price
- $536.14
- Value
- $7m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 2 September 2026 | Taneja Rajat Director | Bought | 1,786 | $560.00 | $1m |
| 10 June 2026 | Wiechmann Andrew C. Chief Financial Officer | Sold under a preset trading plan | 450 | $604.56 | $272,052 |
| 15 May 2026 | Fernandez Henry A Chairman and CEO, Director | Bought | 4,000 | $562.40 | $2m |
| 24 April 2026 | Munari Alvise J. Chief Product Officer | Sold | 10,000 | $592.04 | $6m |
| 17 March 2026 | Wiechmann Andrew C. Chief Financial Officer | Sold under a preset trading plan | 450 | $560.00 | $252,000 |
| 18 February 2026 | Ashe Robert G. Director | Bought | 3,681 | $543.21 | $2m |
| 17 February 2026 | Fernandez Henry A Chairman and CEO, Director | Bought | 800 | $518.95 | $415,159 |
| 13 February 2026 | Fernandez Henry A Chairman and CEO, Director | Bought | 6,000 | $524.18 | $3m |
| 11 December 2025 | Wiechmann Andrew C. Chief Financial Officer | Sold under a preset trading plan | 450 | $550.00 | $247,500 |
| 5 December 2025 | Fernandez Henry A Chairman and CEO, Director | Bought | 12,500 | $536.14 | $7m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 6 Feb 2026, plus the 10-Q filed 21 Jul 2026 and 5 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It owes more than it owns on paper (negative equity). Often that's from borrowing to buy back shares.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.