Index was Msci’s largest segment in fiscal 2025, bringing in $1.79B of $3.13B (57%).
| Segment | FY 2009 | FY 2010 | FY 2011 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Index | $1.30B | $1.45B | $1.60B | $1.79B | ||||||||||||
| Performance & Risk | — | — | — | — | ||||||||||||
| Analytics | $576.11M | $615.96M | $675.09M | $714.40M | ||||||||||||
| Sustainability & Climate | — | $287.57M | $326.60M | $353.92M | ||||||||||||
| Esg & Climate | $228.31M | — | — | — | ||||||||||||
| All Other – Private Assets | — | $173.58M | $258.29M | $279.34M | ||||||||||||
| All Other - Private Assets | $140.97M | — | — | — | ||||||||||||
| All Other | — | — | — | — | ||||||||||||
| Governance | — | — | — | — | ||||||||||||
| Total | $2.25B | $2.53B | $2.86B | $3.13B |
Msci brought in $3.13B from its four segments in fiscal 2025, the year ended December 31, 2025. That was up 9.7% from $2.86B in fiscal 2024. Index was the largest at $1.79B (57.0%), ahead of Analytics at $714.40M (22.8%) and Sustainability & Climate at $353.92M (11.3%). The remaining segment, All Other – Private Assets, brought in $279.34M.
Compared with fiscal 2024, Index grew fastest, up 11.9% to $1.79B. Every segment above 2% of revenue grew.
Msci began breaking out Sustainability & Climate in fiscal 2023 and All Other – Private Assets in fiscal 2023. Msci stopped reporting Esg & Climate ($228.31M in fiscal 2022) and All Other - Private Assets ($140.97M in fiscal 2022) as separate segments.
United States was Msci’s largest region in fiscal 2025, bringing in $1.27B of $3.13B (40%).
| Geography | FY 2009 | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $934.46M | $1.04B | $1.17B | $1.27B | |||||||||||||
| Other Europe Middle East & Africa Countries | $512.02M | $569.03M | $632.13M | $698.50M | |||||||||||||
| United Kingdom | $351.23M | $408.09M | $479.67M | $543.48M | |||||||||||||
| Other Asia & Australia Countries | $263.61M | $295.00M | $332.22M | $356.76M | |||||||||||||
| Japan | $91.26M | $100.82M | $114.16M | $127.61M | |||||||||||||
| Other America Countries | $96.02M | $111.97M | $128.95M | $140.70M | |||||||||||||
| Total | $2.25B | $2.53B | $2.86B | $3.13B |
Msci brought in $3.13B from its six regions in fiscal 2025, the year ended December 31, 2025. That was up 9.7% from $2.86B in fiscal 2024. United States was the largest at $1.27B (40.4%), ahead of Other Europe Middle East & Africa Countries at $698.50M (22.3%) and United Kingdom at $543.48M (17.3%). The other three regions brought in $625.07M combined.
Compared with fiscal 2024, United Kingdom grew fastest, up 13.3% to $543.48M. Every region above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these regions grew from $2.25B to $3.13B, a compound annual growth rate of 11.7%. United States' share of the total fell from 41.6% to 40.4%.
Recurring Subscriptions was Msci’s largest product and service line in fiscal 2025, bringing in $2.28B of $3.13B (73%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Recurring Subscriptions | $1.66B | $1.87B | $2.11B | $2.28B | ||||
| Asset-Based Fees | $528.13M | $557.50M | $657.50M | $770.67M | ||||
| Non-Recurring | $60.95M | $100.13M | $84.18M | $85.09M | ||||
| Total | $2.25B | $2.53B | $2.86B | $3.13B |
Msci brought in $3.13B from its three product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 9.7% from $2.86B in fiscal 2024. Recurring Subscriptions was the largest at $2.28B (72.7%), ahead of Asset-Based Fees at $770.67M (24.6%) and Non-Recurring at $85.09M (2.7%).
Compared with fiscal 2024, Asset-Based Fees grew fastest, up 17.2% to $770.67M. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $2.25B to $3.13B, a compound annual growth rate of 11.7%. Recurring Subscriptions' share of the total fell from 73.8% to 72.7%.
Msci (MSCI) reports its revenue by segment, by geography and by product and service. In fiscal 2025, Index was its largest segment, bringing in $1.79B (57.0% of the total), followed by Analytics at $714.40M (22.8%).
Index was Msci's largest segment in fiscal 2025, bringing in $1.79B, or 57.0% of the $3.13B total across its four segments.
United States was Msci's largest region in fiscal 2025, bringing in $1.27B, or 40.4% of the $3.13B total across its six regions.
Recurring Subscriptions was Msci's largest product and service line in fiscal 2025, bringing in $2.28B, or 72.7% of the $3.13B total across its three product and service lines.
Among Msci's segments that make up at least 2% of revenue, Index grew fastest in fiscal 2025, up 11.9% from $1.60B to $1.79B.
Every figure comes from Msci's annual financial filings, as reported. Each line keeps the name Msci gives it, and years follow its fiscal calendar.
Msci's revenue by segment goes back to fiscal 2009, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.