MSCI Inc. reported financial results for the three months ended September 30, 2026, showing a 12.4% increase in operating revenues to $892.0 million. The company achieved organic operating revenue growth of 12.3%. Recurring subscription revenues increased by 7.7%, while asset-based fees rose by 24.9%. The company reported an operating margin of 56.3% and an adjusted EBITDA margin of 62.2%.
Net income for the third quarter was $351.0 million, an increase of 7.9% year-over-year. Diluted earnings per share (EPS) were $4.86, up 14.4%, while adjusted EPS was $5.11, up 14.3%. The company’s total Run Rate as of September 30, 2026, was $3,571.9 million, up 12.1%. The retention rate for the quarter was 95.0%.
MSCI repurchased $627.2 million of its common stock during the third quarter and through October 19, 2026, at an average price of $561.81. The company paid approximately $147.5 million in dividends during the quarter and declared a cash dividend of $2.05 per share for the fourth quarter of 2026.
On the balance sheet, cash and cash equivalents totaled $261.0 million as of September 30, 2026. Total debt outstanding was $6.8 billion. Capital expenditures were $50.7 million, and free cash flow was $385.4 million.
MSCI completed the acquisition of First Street Technology, Inc. on August 3, 2026, for $122.6 million, net of cash acquired. The company also noted that the Index segment saw operating revenues of $532.6 million, up 18.1%, driven by higher asset-based fees and recurring subscriptions.
