MSCI Q3 FY26: where the revenue came from and where it went
The whole income statement of MSCI for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jul 1 – Sep 30, 2026
- Reported
- Oct 20, 2026
Revenue$0.89B
+12% year over year
Gross profit$0.74B
83% margin
Operating profit$0.50B
56% margin
Net profit$0.35B
39% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 0.89 | 100% | +12% |
| Recurring subscriptions | 0.62 | 70% | +8% |
| Asset based fees | 0.25 | 28% | +25% |
| Non recurring | 0.02 | 2% | +30% |
| Cost of revenue | −0.15 | 17% | |
| Gross profit | 0.74 | 83% margin | +0pp |
| R&D | −0.05 | 6% | +0pp |
| Sales & marketing | −0.09 | 10% | +0pp |
| G&A | −0.05 | 5% | +0pp |
| Other | −0.05 | 6% | +0pp |
| Operating profit | 0.50 | 56% margin | +0pp |
| Interest & other costs | −0.07 | ||
| Tax | −0.08 | ||
| Net profit | 0.35 | 39% margin | −2pp |
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