# MSCI Inc.

Summary updated: 2026-09-28T11:27:23.770868Z
Canonical: https://finbar.com/research/companies/msci

## Overview

MSCI Inc. is a financial-market data and analytics company that provides indexes, research, risk tools and technology for investors. Its products support portfolio construction, performance benchmarking and investment decision-making across public and private markets. MSCI describes its purpose as bringing greater transparency to financial markets and powering better investment decisions. [1](https://app.finbar.com/go?id=P125545)[2](https://app.finbar.com/go?id=P21181982)[3](https://www.sec.gov/Archives/edgar/data/1408198/000140819825000098/msci-20250312.htm)

The company’s principal businesses are Index, Analytics, and Sustainability and Climate; it also provides private-assets data and solutions. Its indexes are used in investment products and as benchmarks. MSCI operates globally: at the end of 2025, it had 6,268 employees in more than 27 countries. Revenue for 2025 was approximately $3.13 billion. [4](https://app.finbar.com/go?id=P79405062)[5](https://app.finbar.com/go?id=P116821800)[6](https://app.finbar.com/go?id=P9279986)[7](https://app.finbar.com/go?id=P77819202)
[1](https://app.finbar.com/go?id=P125545)[2](https://app.finbar.com/go?id=P21181982)[4](https://app.finbar.com/go?id=P79405062)[5](https://app.finbar.com/go?id=P116821800)[6](https://app.finbar.com/go?id=P9279986)[7](https://app.finbar.com/go?id=P77819202)[3](https://www.sec.gov/Archives/edgar/data/1408198/000140819825000098/msci-20250312.htm)

## Products & services

MSCI’s index products include global equity benchmarks, factor indexes, fixed-income and private-asset indexes, sustainability and climate indexes, thematic indexes, and custom indexes built to client criteria. Investors use them as performance benchmarks and as the basis for ETFs and other index-linked products; GICS Direct supplies sector-to-sub-industry classifications. Index products generated approximately 57% of MSCI’s 2025 revenue, including subscription and asset-based fees. [5](https://app.finbar.com/go?id=P116821800)[8](https://app.finbar.com/go?id=P12210969)[9](https://app.finbar.com/go?id=P89094109)[10](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)

MSCI’s analytics products provide portfolio construction, performance attribution and risk measurement across asset classes. BarraOne supports multi-asset risk and performance analysis, while Barra PortfolioManager supports portfolio optimization and attribution. RiskMetrics RiskManager provides value-at-risk calculations, stress tests, sensitivity analysis and exposure monitoring. MSCI delivers analytics through its applications, APIs and integrations with client or third-party systems. Analytics accounted for approximately 23% of 2025 revenue. [11](https://app.finbar.com/go?id=P2733277)[12](https://app.finbar.com/go?id=P47586194)[13](https://app.finbar.com/go?id=P85503074)[10](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)

Its sustainability and climate products include MSCI ESG Ratings, which assess issuers’ exposure and resilience to financially relevant environmental, social and governance risks; screening research for identifying business activities subject to investor restrictions; and climate tools for measuring transition and physical risks, emissions-related exposures and portfolio alignment. These offerings accounted for approximately 11% of 2025 revenue. [14](https://app.finbar.com/go?id=P83570060)[15](https://app.finbar.com/go?id=P109270010)[16](https://app.finbar.com/go?id=P16337102)[17](https://app.finbar.com/go?id=P24857886)[10](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)

MSCI’s private-asset offerings cover real estate and private capital data, benchmarks, portfolio analytics and reporting. Real Capital Analytics supplies property transaction and market data; its private-capital tools support fund and investment-level performance comparisons, exposure analysis, cash-flow tracking and portfolio reporting. Private Assets accounted for approximately 9% of 2025 revenue. [18](https://app.finbar.com/go?id=P43843322)[19](https://app.finbar.com/go?id=P1502616)[20](https://app.finbar.com/go?id=P47750244)[21](https://app.finbar.com/go?id=P96401433)[10](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)
[5](https://app.finbar.com/go?id=P116821800)[8](https://app.finbar.com/go?id=P12210969)[9](https://app.finbar.com/go?id=P89094109)[11](https://app.finbar.com/go?id=P2733277)[12](https://app.finbar.com/go?id=P47586194)[13](https://app.finbar.com/go?id=P85503074)[14](https://app.finbar.com/go?id=P83570060)[15](https://app.finbar.com/go?id=P109270010)[16](https://app.finbar.com/go?id=P16337102)[17](https://app.finbar.com/go?id=P24857886)[18](https://app.finbar.com/go?id=P43843322)[19](https://app.finbar.com/go?id=P1502616)[20](https://app.finbar.com/go?id=P47750244)[21](https://app.finbar.com/go?id=P96401433)[10](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)

## Geographic presence

MSCI’s revenue spans the Americas, Europe, the Middle East and Africa (EMEA), and Asia & Australia. In 2025, the Americas generated $1.41 billion, or about 45% of total revenue; EMEA generated $1.24 billion, or about 40%; and Asia & Australia generated $484 million, or about 15%. The United States accounted for $1.27 billion and the United Kingdom for $543 million. MSCI assigns revenue geographically primarily by the shipping address of the ultimate customer using the product. [22](https://app.finbar.com/go?id=T9701340)[23](https://app.finbar.com/go?id=P105710637)

MSCI is headquartered in New York and has principal leased offices in cities including Budapest, Mumbai, Monterrey, London, Manila and Stellenbosch. At December 31, 2025, it employed 6,268 people in more than 27 countries: 51% in Asia Pacific, 24% in EMEA, 16% in the U.S. and Canada, and 9% in Mexico and Brazil. Its workforce is therefore more concentrated in Asia Pacific than its revenue. [24](https://app.finbar.com/go?id=P98994253)[25](https://app.finbar.com/go?id=T10365869)[6](https://app.finbar.com/go?id=P9279986)
[22](https://app.finbar.com/go?id=T9701340)[22](https://app.finbar.com/go?id=T9701340)[22](https://app.finbar.com/go?id=T9701340)[22](https://app.finbar.com/go?id=T9701340)[22](https://app.finbar.com/go?id=T9701340)[23](https://app.finbar.com/go?id=P105710637)[24](https://app.finbar.com/go?id=P98994253)[25](https://app.finbar.com/go?id=T10365869)[25](https://app.finbar.com/go?id=T10365869)[25](https://app.finbar.com/go?id=T10365869)[25](https://app.finbar.com/go?id=T10365869)[25](https://app.finbar.com/go?id=T10365869)[25](https://app.finbar.com/go?id=T10365869)[6](https://app.finbar.com/go?id=P9279986)

## Business segments

MSCI reports three business segments: Index, Analytics, and Sustainability and Climate. Index provides equity and fixed-income indexes used in investment products, benchmarking, portfolio construction and asset allocation. Analytics provides risk-management, performance-attribution and portfolio-management tools. Sustainability and Climate provides data, ratings, research and tools for assessing sustainability and climate considerations in investments. [26](https://app.finbar.com/go?id=P73793569)[27](https://app.finbar.com/go?id=P104115390)[28](https://app.finbar.com/go?id=P60646836)

MSCI also has two operating segments, Real Assets and Private Capital Solutions, which it combines under “All Other – Private Assets” because neither meets the threshold for separate reportable-segment disclosure. Real Assets focuses on data, benchmarks and analytics for assets such as real estate and infrastructure; Private Capital Solutions provides tools for managing private-capital investments. In 2025, Index accounted for approximately 57% of operating revenue, Analytics 23%, Sustainability and Climate 11%, and All Other – Private Assets 9%. [29](https://app.finbar.com/go?id=P39058256)[30](https://app.finbar.com/go?id=P82307830)[31](https://app.finbar.com/go?id=P18239337)[10](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)
[26](https://app.finbar.com/go?id=P73793569)[27](https://app.finbar.com/go?id=P104115390)[28](https://app.finbar.com/go?id=P60646836)[29](https://app.finbar.com/go?id=P39058256)[30](https://app.finbar.com/go?id=P82307830)[31](https://app.finbar.com/go?id=P18239337)[32](https://app.finbar.com/go?id=T7762466)[32](https://app.finbar.com/go?id=T7762466)[32](https://app.finbar.com/go?id=T7762466)[32](https://app.finbar.com/go?id=T7762466)[32](https://app.finbar.com/go?id=T7762466)[10](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)

## Company history

MSCI’s index business traces its roots to global equity indexes introduced by Capital International in 1969. MSCI Inc. was incorporated in Delaware in 1998 as Morgan Stanley Capital International Inc. In 1999, MSCI and S&P introduced the Global Industry Classification Standard, a framework for categorizing publicly traded companies. [33](https://www.msci.com/documents/1296102/248121/MSCI_Constituent_History.pdf/a83e75a6-488b-4510-be08-e776dce8b8e7)[34](https://www.sec.gov/Archives/edgar/data/1408198/000119312512212354/d324997dex31.htm)[35](https://www.msci.com/eqb/pressreleases/archive/pr990802.html)

Morgan Stanley combined Barra’s investment-risk analytics business with MSCI in 2004. MSCI went public in 2007, while Morgan Stanley retained a majority stake; Morgan Stanley sold its remaining shares in 2009, completing their separation. MSCI subsequently expanded through the acquisitions of RiskMetrics in 2010, GMI Ratings in 2014 and commercial real estate data provider Real Capital Analytics in 2021. [36](https://www.msci.com/downloads/documents/press-releases/media-room/20040603_pr.pdf)[37](https://ir.msci.com/news-releases/news-release-details/msci-prices-initial-public-offering)[38](https://www.morganstanley.com/press-releases/morgan-stanley-announces-pricing-of-public-offering-of-its-remaining-ownership-interest-in-msci-inc_dcf9325e-4473-11de-bda3-5555f0e7cbb4)[39](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-riskmetrics)[40](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-gmi-ratings)[41](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-real-capital-analytics)
[33](https://www.msci.com/documents/1296102/248121/MSCI_Constituent_History.pdf/a83e75a6-488b-4510-be08-e776dce8b8e7)[34](https://www.sec.gov/Archives/edgar/data/1408198/000119312512212354/d324997dex31.htm)[35](https://www.msci.com/eqb/pressreleases/archive/pr990802.html)[36](https://www.msci.com/downloads/documents/press-releases/media-room/20040603_pr.pdf)[37](https://ir.msci.com/news-releases/news-release-details/msci-prices-initial-public-offering)[38](https://www.morganstanley.com/press-releases/morgan-stanley-announces-pricing-of-public-offering-of-its-remaining-ownership-interest-in-msci-inc_dcf9325e-4473-11de-bda3-5555f0e7cbb4)[39](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-riskmetrics)[40](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-gmi-ratings)[41](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-real-capital-analytics)

## Sources

1. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P125545)
2. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P21181982)
3. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1408198/000140819825000098/msci-20250312.htm)
4. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P79405062)
5. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P116821800)
6. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P9279986)
7. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P77819202)
8. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P12210969)
9. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P89094109)
10. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1408198/000140819826000011/msci-20251231.htm)
11. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P2733277)
12. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P47586194)
13. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P85503074)
14. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P83570060)
15. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P109270010)
16. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P16337102)
17. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P24857886)
18. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P43843322)
19. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P1502616)
20. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P47750244)
21. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P96401433)
22. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T9701340)
23. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P105710637)
24. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P98994253)
25. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T10365869)
26. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P73793569)
27. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P104115390)
28. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P60646836)
29. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P39058256)
30. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P82307830)
31. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P18239337)
32. [MSCI Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T7762466)
33. [www.msci.com](https://www.msci.com/documents/1296102/248121/MSCI_Constituent_History.pdf/a83e75a6-488b-4510-be08-e776dce8b8e7)
34. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1408198/000119312512212354/d324997dex31.htm)
35. [www.msci.com](https://www.msci.com/eqb/pressreleases/archive/pr990802.html)
36. [www.msci.com](https://www.msci.com/downloads/documents/press-releases/media-room/20040603_pr.pdf)
37. [ir.msci.com](https://ir.msci.com/news-releases/news-release-details/msci-prices-initial-public-offering)
38. [www.morganstanley.com](https://www.morganstanley.com/press-releases/morgan-stanley-announces-pricing-of-public-offering-of-its-remaining-ownership-interest-in-msci-inc_dcf9325e-4473-11de-bda3-5555f0e7cbb4)
39. [ir.msci.com](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-riskmetrics)
40. [ir.msci.com](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-gmi-ratings)
41. [ir.msci.com](https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-real-capital-analytics)

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