MSCI

EX-99.1

2 exhibit991earningsrelease-.htm

EX-99.1

Document

Exhibit 99.1

MSCI Reports Financial Results for

Third Quarter and Nine Months 2026

New York – October 20, 2026 – MSCI Inc. (“MSCI” or the “Company”) (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, today announced its financial results for the three months ended September 30, 2026 (“third quarter 2026”) and nine months ended September 30, 2026 (“nine months 2026”).

Financial and Operational Highlights for Third Quarter 2026

(Note: Unless otherwise noted, percentage and other changes are relative to the three months ended September 30, 2025 (“third quarter 2025”) and Run Rate percentage changes are relative to September 30, 2025).

•Operating revenues of $892.0 million, up 12.4%; Organic operating revenue growth of 12.3%

•Recurring subscription revenues up 7.7%; Asset-based fees up 24.9%

•Operating margin of 56.3%; Adjusted EBITDA margin of 62.2%

•Diluted EPS of $4.86, up 14.4%; Adjusted EPS of $5.11, up 14.3%

•Organic recurring subscription Run Rate growth of 8.7%; Retention Rate of 95.0%

•In third quarter 2026 and through October 19, 2026, a total of $627.2 million or 1,116,460 shares were repurchased at an average repurchase price of $561.81

•Approximately $147.5 million in dividends were paid to shareholders in third quarter 2026; Cash dividend of $2.05 per share declared by MSCI Board of Directors for fourth quarter 2026

Three Months Ended

Nine Months Ended

Sep. 30,

Sep. 30,

Sep. 30,

Sep. 30,

in millions, except per share data (unaudited)

2026

2025

% Change

2026

2025

% Change

Operating revenues

$

892.0

$

793.4

12.4

%

$

2,609.8

$

2,311.9

12.9

%

Operating income

$

502.1

$

447.6

12.2

%

$

1,446.5

$

1,249.9

15.7

%

Operating margin %

56.3

%

56.4

%

55.4

%

54.1

%

Net income

$

351.0

$

325.3

7.9

%

$

1,099.0

$

917.6

19.8

%

Diluted EPS

$

4.86

$

4.25

14.4

%

$

15.09

$

11.87

27.1

%

Adjusted EPS

$

5.11

$

4.47

14.3

%

$

14.59

$

12.63

15.5

%

Adjusted EBITDA

$

554.8

$

494.4

12.2

%

$

1,598.0

$

1,394.4

14.6

%

Adjusted EBITDA margin %

62.2

%

62.3

%

61.2

%

60.3

%

“In the third quarter MSCI delivered strong financial and operating metrics, including our best-ever recurring net-new sales in Analytics and Private Capital Solutions, our best-ever Q3 recurring net-new sales in Index, and another record quarter for asset-based fees. Among client segments and regions, we achieved our best-ever quarter both with asset owners and in Asia-Pacific,” said Henry A. Fernandez, Chairman and CEO of MSCI.

“Thanks to these results, we entered Q4 with solid momentum and strong client engagement across our franchise. Notably, we have seen robust demand for both our traditional and newer solutions. All of this shows that MSCI is expanding our foundational, mission-critical role in global investing even as we transform our business for today’s AI-first world,” Fernandez added.

1

Third Quarter Consolidated Results

Operating Revenues: Operating revenues were $892.0 million, up 12.4%. Organic operating revenue growth was 12.3%. The $98.6 million increase was the result of $49.1 million in higher asset-based fees, $44.5 million in higher recurring subscription revenues and $5.0 million in higher non-recurring revenues.

Run Rate and Retention Rate: Total Run Rate at September 30, 2026 was $3,571.9 million, up 12.1%. Recurring subscription Run Rate increased by $209.5 million, and asset-based fees Run Rate increased by $175.9 million. Recurring subscription Run Rate growth was primarily driven by asset managers, hedge funds and banking & brokerages client segments, and record ETF AUM linked to MSCI indexes. Organic recurring subscription Run Rate growth was 8.7%. Retention Rate in third quarter 2026 was 95.0%, compared to 94.7% in third quarter 2025.

Expenses: Total operating expenses were $389.9 million, up 12.8%. Adjusted EBITDA expenses were $337.2 million, up 12.8%, primarily reflecting higher non-compensation costs as a result of higher information technology costs, professional fees and market data costs. Additionally, we saw higher compensation and benefits costs primarily driven by higher incentive compensation and salaries, partially offset by increased capitalization of costs related to internally developed software projects. During the third quarter of 2026 we recognized $6.1 million of Adjusted EBITDA expenses and $1.9 million of intangible asset amortization expense related to the Compass, Vantager, PM Insights and First Street acquisitions.

Total operating expenses excluding the impact of foreign currency exchange rate fluctuations (“ex-FX”) and adjusted EBITDA expenses ex-FX increased 13.2% and 13.4%, respectively.

Operating Income: Operating income was $502.1 million, up 12.2%. Operating income margin in third quarter 2026 was 56.3%, compared to 56.4% in third quarter 2025.

Headcount:

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