Filing Flows › MSCI (MSCI) › Q1 2026
MSCI (MSCI) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 21, 2026
MSCI (MSCI) reported revenue of $851M for the first quarter 2026 (Q1 2026), +14% from a year earlier and +3% from the quarter before. Operating margin was 53.7%, net earnings $406M (47.7% of revenue).
MSCI, Q1 2026: revenue $851M (+14% year over year), operating margin 53.7%, net earnings $406M, operating cash flow $307M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $851M | +3% | +14% |
| Operating profit | $457M | -1% | +21% |
| Net earnings | $406M | +43% | +41% |
| Operating cash flow | $307M | -39% | +2% |
| Free cash flow | $304M | -38% | +5% |
What changed
Revenue was $850.8M in Q1 2026, up 14% year over year and up 3% from the previous quarter.
Operating profit was $456.9M, a 53.7% margin (up 3.2 points year over year). Of the extra revenue versus Q1 2025, 76% reached operating profit, above the 51% margin then. Total costs grew 7% against revenue growth of 14%. The fastest-growing cost line was General & admin (+21%). Net earnings were $406.0M, up 41% year over year. The effective tax rate was -4.3%.
Operating cash flow was $306.8M (up 2% year over year), 76% of net earnings. Non-cash charges added back $47.8M of depreciation and amortization and $47.7M of share-based compensation. Working capital and other items used $194.7M. Capital expenditures of $2.8M left free cash flow of $304.0M.
Questions
What was MSCI's revenue in the first quarter 2026?
MSCI (MSCI) reported revenue of $851M for the first quarter 2026 (Q1 2026), +14% from a year earlier and +3% from the quarter before.
Was MSCI profitable in the first quarter 2026?
Operating profit was $457M (53.7% of revenue) and net earnings $406M.
Source: MSCI 10-Q on SEC EDGAR.