MSCI Inc. (NYSE: MSCI)

MSCI Inc. provides research-based data, analytics and indexes that help global investors understand risks and opportunities, make investment decisions and unlock innovation.

The company generates revenue primarily through recurring fixed and variable fee arrangements for its indexes, analytics, sustainability and climate, and private asset solutions, with a portion of index revenues derived from asset-based fees tied to clients’ assets under management or trading volumes.

MSCI Inc. operates through the following segments: Index, Analytics, Sustainability and Climate, and Real Assets and Private Capital Solutions.

• Index: Provides a broad range of equity, fixed income, multi-asset, factor, thematic, sustainability, climate and custom indexes, as well as the GICS Direct dataset, to support indexed financial products, benchmarking, portfolio construction and asset allocation.

• Analytics: Delivers risk management, performance attribution and portfolio management tools, including Barra and RiskMetrics models, AI Portfolio Insights and MSCI Wealth Manager, to support clients’ analysis of market, credit, liquidity, counterparty and climate risk across public and private securities.

• Sustainability and Climate: Supplies ESG ratings, business involvement screening, climate data and tools, geospatial intelligence and regulatory solutions to help investors assess sustainability and climate risks and opportunities in their portfolios.

• Real Assets and Private Capital Solutions: Provides datasets, standardized classifications, benchmarks and analytics for private equity, credit, real estate, infrastructure and natural resources, including Real Capital Analytics, Portfolio Performance Insights and Private Capital Portfolio Management tools.

MSCI Inc. holds a strong position in the financial data and analytics industry, competing with index providers such as S&P Dow Jones Indices LLC, FTSE Russell, Nasdaq Inc, Bloomberg Finance L. P. and Solactive AG, while facing competition in analytics from Axioma, BlackRock Solutions, Bloomberg and FactSet Research Systems Inc., and in sustainability and climate from Sustainalytics Holding B. V., Institutional Shareholder Services Inc., S&P Global Inc., Refinitiv and Bloomberg; its competitive advantages stem from differentiated research-enhanced content, client-centric relationships, proprietary data delivered at scale through flexible technology and AI, and an integrated business model that emphasizes service excellence, innovative research and cutting-edge technology.

The company serves approximately 6,800 clients across more than 100 countries, including asset managers, banks and brokerages, asset owners, hedge fund managers, wealth managers, insurance companies, exchanges, vendors, real estate professionals, academic institutions and corporates, with BlackRock representing its largest client organization by revenue.