NYSE$MSCI

MSCI Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

MSCI's financial performance for Q4 2021 was reported, showcasing significant growth and strategic advancements.

MSCI Inc. reported strong financial results for the fourth quarter of 2021, with operating revenues up 23.9% to $549.8 million and a diluted EPS of $2.32, a 24.1% increase. The company's success was attributed to key strategic investments, client focus, and high demand for its solutions, particularly in the Index business, which saw its 32nd consecutive quarter of double-digit subscription growth. MSCI is focused on investing in growth opportunities such as ESG and Climate.

  • Operating revenues increased by 23.9% to $549.8 million, with organic operating revenue growth of 19.8%.
  • Diluted EPS rose by 24.1% to $2.32, and adjusted EPS increased by 28.1% to $2.51.
  • Recurring subscription revenues were up by 19.3%, and asset-based fees increased by 34.4%.
  • The retention rate was strong at 94.4%.

Headline financials

Total Revenue

$550M

Previous: $444M+23.9%
EPS (adj)

$2.51

Previous: $1.96+28.1%
Retention Rate

94.4%

Previous: 92.6%+1.9%
Organic Revenue Growth

19.8%

No prior period
Capital Expenditures

$6.39M

Previous: $9.67M-33.9%
Free Cash Flow

$263M

Previous: $226M+16.3%
Net Income

$194M

Previous: $156M+24.1%
Operating Income

$281M

Previous: $234M+19.9%
Gross Profit

$454M

Previous: $368M+23.4%
Cash & Equivalents

$1.42B

Previous: $1.3B+9.3%
Total Assets

$665M

Previous: $4.2B-84.2%
Stock-Based Comp

$11.7M

Previous: $10.7M+9.2%

Revenue & EPS history

MSCI · Revenue · Quarterly

$550M

Q4 2021+23.9%vs Q4 2020
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

MSCI · $550M total across 4 segments · Q4 2021

  • Index
    $332M+23.5%
  • Analytics
    $138M+4.3%
  • Sustainability & Climate
    $48.4M+54.9%
  • Private Assets
    $31.5M+177.8%

Forward guidance

MSCI provided guidance for the full year 2022, based on macroeconomic and capital market assumptions.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+1.0%

Avg return

Earnings day

+2.4%

Avg return

5 days after

+4.0%

Avg return

30 days after

60%

41 / 68 earnings

Positive

+10.8%

Q2 2023

Best reaction

-15.9%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+6.2%+4.5%+1.1%
Q4 2025+4.8%+7.4%-1.7%
Q3 2025+8.7%+7.6%+2.9%
Q2 2025-0.3%+0.1%+2.8%
Q1 2025+0.9%+0.4%+5.7%
Q4 2024-5.6%-7.3%-6.0%
Q3 2024-4.4%-2.9%+1.6%
Q2 2024+5.6%+6.8%+11.6%
Q1 2024-9.8%-7.3%-4.8%
Q4 2023+8.7%+7.6%+1.8%
Q3 2023-2.1%+3.3%+8.1%
Q2 2023+10.8%+9.5%+5.9%
Q1 2023-15.9%-11.4%-14.3%
Q4 2022+9.5%+12.0%+2.1%
Q3 2022+9.6%+15.1%+23.4%
Q2 2022+3.3%+9.8%+8.5%
Q1 2022-9.6%-8.9%-6.4%
Q4 2021+3.3%+10.8%+4.3%
Q3 2021-2.3%+2.0%-1.4%
Q2 2021+2.8%+3.5%+8.3%
Q1 2021-0.6%-0.3%-4.6%
Q4 2020+0.5%+8.1%+5.4%
Q3 2020-2.5%+0.1%+15.6%
Q2 2020-2.8%-4.6%-6.1%
Q1 2020+0.9%-3.5%-2.7%
Q4 2019+1.2%+6.7%+4.7%
Q3 2019+7.3%+4.1%+13.1%
Q2 2019-3.1%-5.7%+3.3%
Q1 2019+1.9%-0.4%-1.2%
Q4 2018+6.2%+7.2%+16.9%
Q3 2018-4.2%-1.7%+4.5%
Q2 2018+2.3%+6.0%+10.6%
Q1 2018+1.1%+3.2%+8.6%
Q4 2017+2.4%-0.2%+2.9%
Q3 2017+7.2%+7.1%+9.7%
Q2 2017+2.3%+1.6%+6.3%
Q1 2017-1.8%-3.7%+3.0%
Q4 2016+9.4%+10.6%+14.0%
Q3 2016-4.8%-4.5%-2.6%
Q2 2016+3.0%+1.5%+6.5%
Q1 2016-0.6%
Q4 2015-1.6%
Q3 2015+6.3%
Q2 2015+1.9%
Q1 2015-0.4%
Q4 2014+1.6%
Q3 2014-0.5%
Q2 2014-4.7%
Q1 2014-1.7%
Q4 2013-3.0%
Q3 2013-0.6%
Q2 2013+6.8%
Q1 2013-1.3%
Q4 2012-2.0%
Q3 2012-4.2%
Q2 2012-0.0%
Q1 2012+1.3%
Q2 2011+0.9%
Q4 2011+0.9%
Q3 2011+1.3%
Q1 2011+2.8%
Q1 2010+2.8%
Q2 2010+1.9%
Q4 2008+1.9%
Q4 2010+1.9%
Q3 2010+2.0%
Q3 2009+2.0%
Q4 2009+2.0%

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