MSCI said total operating revenues for the 3 months ended March 31, 2025 increased 9.7%, and adjusting for the impact of foreign currency exchange rate fluctuations, the increase was 9.9%.

10-QQuarterly reportFiled Apr 22, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

MSCI said total operating revenues for the 3 months ended March 31, 2025 increased 9.7%, and adjusting for the impact of foreign currency exchange rate fluctuations, the increase was 9.9%.
The company said Index segment operating revenues increased 12.8%, with asset-based fees revenue up 18.1% and recurring subscription revenue up 9.6%. MSCI cited increases in average AUM in both ETFs linked to MSCI equity indexes and non-ETF indexed funds linked to MSCI indexes as factors driving the asset-based fees growth.
MSCI said total operating expenses for the 3 months increased 8.3%, and adjusting for the impact of foreign currency exchange rate fluctuations, the increase was 10.0%. The company cited increases in headcount costs and higher severance costs as factors driving the 7.7% increase in compensation and benefits.
As of March 31, 2025, MSCI said it had Senior Notes of $4,200.0 million and revolving credit facility borrowings of $371.9 million, and the remaining authorized amount under the 2024 Repurchase Program was $1,380.2 million.

Key figures

Quarter ended March 31, 2025

Revenue: $746M
Operating income: $377M
Net income: $289M
EPS: $3.71
Operating cash flow: $302M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Operating revenues for Q1 2025 up 9.7%

MSCI said total operating revenues for the 3 months ended March 31, 2025 increased 9.7%, and adjusting for the impact of foreign currency exchange rate fluctuations, the increase was 9.9%.

Source · Based on the MD&A text of the filing

Index segment operating revenues up 12.8%, asset-based fees 18.1%

The company said Index segment operating revenues increased 12.8%, with asset-based fees revenue up 18.1% and recurring subscription revenue up 9.6%. MSCI cited increases in average AUM in both ETFs linked to MSCI equity indexes and non-ETF indexed funds linked to MSCI indexes as factors driving the asset-based fees growth.

Source · Based on the MD&A text of the filing

Total operating expenses up 8.3%, compensation and benefits up 7.7%

MSCI said total operating expenses for the 3 months increased 8.3%, and adjusting for the impact of foreign currency exchange rate fluctuations, the increase was 10.0%. The company cited increases in headcount costs and higher severance costs as factors driving the 7.7% increase in compensation and benefits.

Source · Based on the MD&A text of the filing

Senior Notes and share repurchase remaining authorization as of March 31, 2025

As of March 31, 2025, MSCI said it had Senior Notes of $4,200.0 million and revolving credit facility borrowings of $371.9 million, and the remaining authorized amount under the 2024 Repurchase Program was $1,380.2 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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