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Sep 30, 2023

MSCI Q3 2023 Earnings Report

MSCI delivered strong Q3 2023 results with revenue growth and adjusted EPS growth, driven by recurring subscriptions and asset-based fees.

Key Takeaways

MSCI reported an 11.6% increase in operating revenues, reaching $625.4 million, and a 21.1% increase in Adjusted EPS, reaching $3.45. The company's growth was fueled by strong performance in recurring subscriptions and asset-based fees. MSCI's Index segment and Climate segment showed double-digit subscription Run Rate growth.

Operating revenues increased by 11.6% to $625.4 million, with organic operating revenue growth of 10.9%.

Adjusted EPS grew by 21.1% to $3.45, while diluted EPS increased by 22.0% to $3.27.

Recurring subscription revenues were up 10.7%, and asset-based fees increased by 12.3%.

Retention Rate was strong at 95.4%.

Total Revenue
$625M
Previous year: $561M
+11.6%
EPS
$3.45
Previous year: $2.85
+21.1%
Retention Rate
95.4%
Previous year: 96.4%
-1.0%
Gross Profit
$520M
Previous year: $462M
+12.5%
Cash and Equivalents
$929M
Previous year: $867M
+7.1%
Free Cash Flow
$270M
Previous year: $305M
-11.4%
Total Assets
$4.87B
Previous year: $4.78B
+1.8%

MSCI

MSCI

MSCI Revenue by Segment

Forward Guidance

MSCI's full-year 2023 guidance is based on assumptions about macroeconomic factors and capital markets, which are subject to uncertainty.

Revenue & Expenses

Visualization of income flow from segment revenue to net income