MSCI Q3 2026: Revenue Up 12.4%, EPS Up 14.4%, Interest Expense Guidance Raised
MSCI is trading near its 52-week low of $501.08 (14% above the low) on elevated volume (2.0× avg).
Summary
MSCI reported Q3 2026 revenue of $892.0M (+12.4%) and adjusted EPS of $5.11 (+14.3%), with record asset-based fees and strong Index sales. FY2026 guidance was mostly reaffirmed, though interest expense guidance rose on higher debt levels.
Updates
· Benzinga — MSCI's Q3 revenue of $892.0M beat the $885.749M analyst consensus, with Index segment revenue up 18.1% to $532.6M and shares up 4.61% to $589.47.
- Revenue and Profit — Q3 operating revenue rose 12.4% to $892.0M, topping $885.749M analyst consensus. Operating income rose 12.2% to $502.1M at a flat 56.3% margin, and adjusted EBITDA rose 12.2% to $554.8M at 62.2% margin.
- Index Segment — Index recurring subscription revenue grew 11.1%; Index adjusted EBITDA rose 17.8% at a 77.4% margin versus 77.6%.
- Analytics Segment — Analytics revenue rose 4.8% to $191M; adjusted EBITDA fell 4.9% at a 44.9% margin versus 49.4%.
- Sustainability Segment — Sustainability and Climate revenue rose 4% to $93.7M; adjusted EBITDA rose 10.1% at a 40.8% margin versus 38.6%.
- Private Assets Segment — Private Assets revenue grew 6.7% to $74.7M; adjusted EBITDA fell 4.6% at a 24.8% margin versus 27.6%.
- Guidance — Full-year capex guidance was kept unchanged, while the interest-expense outlook was raised to $288 million-$291 million.
All 9 details
- Q3 operating income rose 12.2% to $502.1M; operating margin flat at 56.3%.
- Index recurring subscription revenue grew 11.1%; Index adjusted EBITDA up 17.8%, margin 77.4% vs 77.6%.
- Analytics revenue rose 4.8% to $191M; adjusted EBITDA fell 4.9%, margin 44.9% vs 49.4%.
- Sustainability and Climate revenue rose 4% to $93.7M; adjusted EBITDA up 10.1%, margin 40.8% vs 38.6%.
- Private Assets revenue grew 6.7% to $74.7M; adjusted EBITDA fell 4.6%, margin 24.8% vs 27.6%.
- Q3 operating revenue rose 12.4% to $892.0M, topping $885.749M analyst consensus.
- Q3 adjusted EBITDA rose 12.2% to $554.8M at 62.2% margin.
- MSCI kept full-year capex guidance unchanged.
- Interest-expense outlook raised to $288 million-$291 million.
Key Events · Earnings and Guidance · MSCI
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Q3 Revenue Up 12.4% to $892.0M
Organic operating revenue growth of 12.3%, with asset-based fees up 24.9% and recurring subscriptions up 7.7%.
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Adjusted EPS $5.11, Up 14.3%
Diluted EPS of $4.86 (+14.4%); adjusted EBITDA of $554.8M at a 62.2% margin.
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Interest Expense Guidance Raised
FY2026 interest expense guidance lifted to $288-291M from $282-286M on higher debt; total debt of $6.8B is 3.2x adjusted EBITDA, at the top of the 3.0-3.5x target range.
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$627.2M Buyback, $0.9B Remaining
1,116,460 shares repurchased at an average $561.81 in Q3 through Oct 19; ~$0.9B remains on the authorization. Q4 dividend of $2.05/share declared, payable Nov 27, 2026.
Analysis · MSCI · Trade & Services
MSCI delivered a strong quarter, with revenue of $892.0M (+12.4%) and adjusted EPS of $5.11 (+14.3%), driven by record asset-based fees (+24.9%) and best-ever Q3 Index recurring net-new sales. The one soft spot is Sustainability and Climate, where net new recurring subscription sales turned negative (-$1.1M) and retention slipped to 91.0%. Guidance was largely reaffirmed, but interest expense was raised to $288-291M from $282-286M, reflecting higher debt levels ($6.8B outstanding, 3.2x adjusted EBITDA leverage at the top of the 3.0-3.5x target range). The company also repurchased $627.2M of stock in Q3 through Oct 19 with ~$0.9B left on the authorization, and declared a $2.05 quarterly dividend.
How filings like this one have moved
In the 30 days to Oct 20, 2026, 29.2% of the 1466 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, MSCI was trading at $573.52 on NYSE in the Trade & Services sector, with a market capitalization of approximately $41B. The 52-week trading range was $501.08 to $644.77. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.