Msci annual operating expenses
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Msci Operating Expenses Growth & History (MSCI)
Msci's operating expenses was $870.5M for fiscal 2025.
View full Msci company overviewMsci annual operating expenses history
| Fiscal year | Period ended | Operating expenses | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $870.5M | $57.3M | +7.05% |
| 2024 | 2024-12-31 | $813.2M | $115.5M | +16.55% |
| 2023 | 2023-12-31 | $697.7M | $61.1M | +9.60% |
| 2022 | 2022-12-31 | $636.6M | $24.5M | +4.00% |
| 2021 | 2021-12-31 | $612.1M | $93.2M | +17.96% |
| 2020 | 2020-12-31 | $518.9M | $11.8M | +2.32% |
| 2019 | 2019-12-31 | $507.1M | $47.4M | +10.31% |
| 2018 | 2018-12-31 | $459.8M | $39.0M | +9.28% |
| 2017 | 2017-12-31 | $420.7M | $10.3M | +2.50% |
| 2016 | 2016-12-31 | $410.5M | $7.0M | +1.74% |
| 2015 | 2015-12-31 | $403.4M | $20.5M | +5.36% |
| 2014 | 2014-12-31 | $382.9M | $50.6M | +15.21% |
| 2013 | 2013-12-31 | $332.3M | $53.9M | +19.34% |
| 2012 | 2012-12-31 | $278.5M | −$23.3M | −7.73% |
| 2011 | 2011-12-31 | $301.8M | — | — |
| 2010 | 2010-11-30 | $258.2M | $84.9M | +48.97% |
| 2009 | 2009-11-30 | $173.3M | $1.5M | +0.88% |
| 2008 | 2008-11-30 | $171.8M | — | — |
Msci quarterly operating expenses
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Q3.26
| Fiscal quarter | Period ended | Operating expenses | Change | YoY change |
|---|---|---|---|---|
| Q3 2026 | 2026-09-30 | $237.7M | $24.4M | +11.44% |
| Q2 2026 | 2026-06-30 | $229.6M | $19.9M | +9.49% |
| Q1 2026 | 2026-03-31 | $252.1M | $20.1M | +8.66% |
| Q4 2025 | 2025-12-31 | $215.5M | $8.8M | +4.25% |
| Q3 2025 | 2025-09-30 | $213.3M | $16.1M | +8.18% |
| Q2 2025 | 2025-06-30 | $209.7M | $12.5M | +6.32% |
| Q1 2025 | 2025-03-31 | $232.0M | $19.9M | +9.40% |
| Q4 2024 | 2024-12-31 | $206.7M | $9.9M | +5.05% |
| Q3 2024 | 2024-09-30 | $197.2M | $30.4M | +18.20% |
| Q2 2024 | 2024-06-30 | $197.2M | $32.1M | +19.43% |
| Q1 2024 | 2024-03-31 | $212.1M | $43.1M | +25.51% |
| Q4 2023 | 2023-12-31 | $196.8M | $31.7M | +19.22% |
| Q3 2023 | 2023-09-30 | $166.8M | $14.1M | +9.25% |
| Q2 2023 | 2023-06-30 | $165.1M | $14.5M | +9.61% |
| Q1 2023 | 2023-03-31 | $169.0M | $773,000 | +0.46% |
| Q4 2022 | 2022-12-31 | $165.1M | −$8.3M | −4.78% |
| Q3 2022 | 2022-09-30 | $152.7M | $5.5M | +3.73% |
| Q2 2022 | 2022-06-30 | $150.7M | −$2.7M | −1.74% |
| Q1 2022 | 2022-03-31 | $168.2M | $29.9M | +21.64% |
| Q4 2021 | 2021-12-31 | $173.4M | $39.7M | +29.71% |
| Q3 2021 | 2021-09-30 | $147.2M | $20.2M | +15.89% |
| Q2 2021 | 2021-06-30 | $153.3M | $29.3M | +23.66% |
| Q1 2021 | 2021-03-31 | $138.3M | $4.0M | +2.96% |
| Q4 2020 | 2020-12-31 | $133.6M | −$3.4M | −2.47% |
| Q3 2020 | 2020-09-30 | $127.0M | $4.5M | +3.64% |
| Q2 2020 | 2020-06-30 | $124.0M | $2.8M | +2.29% |
| Q1 2020 | 2020-03-31 | $134.3M | $7.9M | +6.27% |
| Q4 2019 | 2019-12-31 | $137.0M | $18.9M | +16.01% |
| Q3 2019 | 2019-09-30 | $122.5M | $11.9M | +10.78% |
| Q2 2019 | 2019-06-30 | $121.2M | $3.0M | +2.57% |
| Q1 2019 | 2019-03-31 | $126.4M | $13.5M | +11.98% |
| Q4 2018 | 2018-12-31 | $118.1M | $6.7M | +6.03% |
| Q3 2018 | 2018-09-30 | $110.6M | $5.8M | +5.49% |
| Q2 2018 | 2018-06-30 | $118.2M | $16.7M | +16.48% |
| Q1 2018 | 2018-03-31 | $112.8M | $9.8M | +9.55% |
| Q4 2017 | 2017-12-31 | $111.4M | $8.4M | +8.17% |
| Q3 2017 | 2017-09-30 | $104.9M | $2.7M | +2.62% |
| Q2 2017 | 2017-06-30 | $101.5M | −$1.3M | −1.29% |
| Q1 2017 | 2017-03-31 | $103.0M | $497,000 | +0.48% |
| Q4 2016 | 2016-12-31 | $103.0M | $2.4M | +2.42% |
| Q3 2016 | 2016-09-30 | $102.2M | $8.1M | +8.62% |
| Q2 2016 | 2016-06-30 | $102.8M | −$1.9M | −1.82% |
| Q1 2016 | 2016-03-31 | $102.5M | −$1.6M | −1.54% |
| Q4 2015 | 2015-12-31 | $100.5M | $4.4M | +4.55% |
| Q3 2015 | 2015-09-30 | $94.1M | −$3.8M | −3.86% |
| Q2 2015 | 2015-06-30 | $104.7M | $9.2M | +9.63% |
| Q1 2015 | 2015-03-31 | $104.1M | $10.7M | +11.50% |
| Q4 2014 | 2014-12-31 | $96.2M | $15.2M | +18.79% |
| Q3 2014 | 2014-09-30 | $97.9M | $21.3M | +27.83% |
| Q2 2014 | 2014-06-30 | $95.5M | $26.6M | +38.71% |
| Q1 2014 | 2014-03-31 | $93.4M | $22.1M | +31.01% |
| Q4 2013 | 2013-12-31 | $81.0M | $3.4M | +4.36% |
| Q3 2013 | 2013-09-30 | $76.6M | −$7.0M | −8.39% |
| Q2 2013 | 2013-06-30 | $68.8M | −$9.4M | −11.97% |
| Q1 2013 | 2013-03-31 | $71.3M | −$4.5M | −5.94% |
| Q4 2012 | 2012-12-31 | $77.6M | $2.2M | +2.92% |
| Q3 2012 | 2012-09-30 | $83.6M | $9.8M | +13.21% |
| Q2 2012 | 2012-06-30 | $78.2M | $3.2M | +4.33% |
| Q1 2012 | 2012-03-31 | $75.8M | −$1.9M | −2.41% |
| Q4 2011 | 2011-12-31 | $75.4M | — | — |
| Q3 2011 | 2011-09-30 | $73.8M | — | — |
| Q2 2011 | 2011-06-30 | $75.0M | — | — |
| Q1 2011 | 2011-03-31 | $77.7M | — | — |
| Q4 2010 | 2010-11-30 | $73.5M | — | — |
| Q3 2010 | 2010-08-31 | $91.5M | $48.7M | +113.77% |
| Q2 2010 | 2010-05-31 | $48.0M | — | — |
| Q1 2010 | 2010-02-28 | $45.1M | — | — |
| Q3 2009 | 2009-08-31 | $42.8M | — | — |
Msci operating expenses trends
Over the last five fiscal years, Msci's operating expenses increased from $518.9M to $870.5M, a change of $351.6M. The latest reported quarter, Q3 2026, shows $237.7M.
About the metric
What operating expenses mean
Operating expenses are the recurring costs of running a company’s business beyond the direct costs used to calculate gross profit. They commonly include selling, general and administrative expenses, research and development, and other operating costs.
Calculation and source
SEC-reported and calculated operating expenses
TickerStat uses operating expenses reported in company SEC filings when available. When a separate total is unavailable, it calculates operating expenses as aligned gross profit minus operating income for the same fiscal period. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Msci source filings ↗Community posts
MSCI’s asset-based fees accelerate as quarterly revenue climbs 12%
MSCI ($MSCI) reported quarterly revenue of $892 million, an increase of 12.4%, with organic growth of 12.3%. Subscription revenue grew 7.7%, while asset-based fees increased 24.9%. Operating margin reached 56.3% and adjusted EBITDA margin w ...
