8-K ·Filed Jul 21, 2026

MSCI

MSCI Inc.
NEUTRAL
Impact 5/10
Horizonweeks Processed2mo ago SEC0001408198-26-000044
8-K Item 2.02: Earnings release
Actionable Insight • Neutral

The slight EPS miss is negligible given the guidance raise and strong Index fee momentum. Monitor the Q3 2026 close of the First Street acquisition and any impact on Sustainability & Climate segment growth. The raised free cash flow guidance supports continued buybacks and dividend growth.

DirectionNeutral
Confidencehigh
Horizonweeks
Latest settled — T+20d ⚠ clustered
MSCI ▲ +0.18% at T+20d
NEUTRAL call ✓ call won +0.18% · α vs SPY -2.38% · entry $561.74 → $562.77
Next anchor: T+60d in 12d
Latest observation: T+50 -8.07% FF3 residual α
Entry anchored
Jul 20, 03:59 PM ET
via exchange tick
T+1d
+1.64%
call +1.64% · α +1.76%
$570.95
settled 2mo ago
T+5d
+1.65%
call +1.65% · α +2.88%
$571.03
settled 2mo ago
T+20d
+0.18%
call +0.18% · α -2.38%
$562.77
settled 6w ago
T+60d
—
call — · α —
—
in 12d

Price Chart

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Executive Summary

MSCI reported Q2 2026 adjusted EPS of $4.94, slightly below the $4.97 consensus (-0.6% miss), while revenue of $867.0M was in line with the $868.8M estimate. The miss is marginal and offset by strong operating metrics: 12.2% organic revenue growth, a record Index asset-based-fee run rate, and raised full-year guidance for operating cash flow and free cash flow. The First Street acquisition adds a bolt-on climate risk capability for $120M. Overall, a solid quarter with no material surprise — the stock should trade flat to slightly positive on the guidance raise and momentum in Index fees.

Key Financial Metrics

EPS
$4.94
est $4.97 · -0.6%
Revenue
$867.0M
est $868.8M · -0.2% · +12.2% YoY
Rating
in line
Free Cash Flow
$326.4M

Key Facts

  • Q2 2026 revenue $867.0M, +12.2% YoY (organic +12.2%)
  • Adjusted EPS $4.94 vs consensus $4.97 (-0.6% miss)
  • Index segment revenue $511.0M, +17.5% YoY; asset-based fees +26.6%
  • Total Run Rate $3.48B, +12.0% YoY; organic recurring subscription Run Rate +8.1%
  • Full-year guidance raised: operating cash flow to $1,655-$1,705M (from $1,640-$1,690M), free cash flow to $1,485-$1,545M (from $1,470-$1,530M)
  • Announced $120M acquisition of First Street Technology (climate risk data), expected to close Q3 2026
  • Operating margin expanded to 56.2% from 55.0%; Adjusted EBITDA margin 62.1% from 61.4%
  • Diluted shares outstanding down 5.9% YoY to 72.9M; $1.6B remaining on buyback authorization

Financial Impact

Q2 revenue $867.0M, EPS $4.94; guidance raised for operating cash flow by $15M midpoint and free cash flow by $15M midpoint

revenueepsoperating cash flowfree cash flow

Risk Factors

  • Higher interest expense ($71.0M, +53.7% YoY) from increased debt levels
  • Analytics segment EBITDA declined 5.0% YoY on higher expense growth
  • Sustainability & Climate net new subscription sales down 62% YoY
  • Integration risk from multiple small acquisitions (Compass, Vantager, PM Insights, First Street)

Market Snapshot

Exchange
NYSE
Sector
Services-Business Services, NEC
Analyst Consensus
84% bullish (25 analysts)

Investment Themes

Software & IT

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001408198-26-000044
Document: msci-20260721.htm0001408198-26-000044
Document: 0001408198-26-000044-index-headers.html0001408198-26-000044
Document: 0001408198-26-000044-index.html0001408198-26-000044
Document: 0001408198-26-000044.txt0001408198-26-000044
8-K Data (Synthetic)0001408198-26-000044
6 reports for MSCI
Performance horizon

Track record builds as more directional reports settle.

Filters
Rows
Reports for MSCI — sortable, filterable
TypeNow
Sep 4, 2026
28d ago
Insider Buy
NEUTRAL ★ 2/10
$551.39 $544.60▼ −1.23%▼ −0.11%$535.95 (−2.80%)
Aug 7, 2026
8w ago
8-K
NEUTRAL ★ 2/10
$563.08 $550.68▼ −2.20%▼ −2.16%$535.95 (−4.82%)
Jul 21, 2026
10w ago
8-K
NEUTRAL ★ 5/10
$561.74 $571.03▲ +1.65%▲ +2.88%$535.95 (−4.59%)
Jun 11, 2026
16w ago
Institutional Cluster
BEARISH ★ 5/10
$594.31 $596.89▼ −0.43%▼ −0.00%$535.95 (+9.82%)
Apr 21, 2026
23w ago
8-K
BULLISH ★ 8/10
$592.49 $592.94▲ +0.08%▼ −1.01%$535.95 (−9.54%)
Mar 11, 2026
29w ago
DEFA14A
NEUTRAL ★ 2/10
$546.55 $556.26▲ +1.78%▲ +3.97%$535.95 (−1.94%)
Showing 6 of 6

US Market Status

Market Closed — Opens Mon (64h 10m)

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