PerpEquities

Equity

MSCI Inc. (MSCI) perpetual futures

MSCI perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade MSCIUSDT.

MSCI Inc. provides index benchmarks, analytics, ESG and climate data, and private-asset tools that support investment decision-making for asset owners, managers and financial intermediaries.

$604.32+5.0%NYSE open
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TradingView symbol NYSE:MSCI

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Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$13.3K
Open interest
$10.7K
Best liquidity
$186K
MEXC
Tightest spread
+10.8 bps
MEXC
Highest volume
$13.1K
MEXC
Settlement mix
USDT · 2/2
Perp/spot vol.
0.00x
Spot volume $868.1M
OI / float
0.00%
Float $41.7B
Spot performance
1D+5.00%
5D+3.08%
1M+5.85%
6M-0.95%
YTD+3.13%
1Y+9.50%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
MEXCTradeMSCI/USDTTrading$604.320.0% APR
0.000% every 8h
+10.8 bps$186K$13.1K$10.5KUSDT20x
BitgetTradeMSCI/USDTTrading$604.420.0% APR
0.000% every 8h
+16.2 bps-$169$217.6USDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

Thin liquidity · 1 of 2 venues absorb $10k · Typical cost: +14.1 bps

Cheapest execution: MEXC · +14.1 bps

No fresh book data: Bitget

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

MSCI

Tightest spread

MSCI

Highest volume

MSCI

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 40m ago
Market cap
$43.7B
Updated 40m ago
Revenue
$3.4B
Trailing 12 months
Revenue growth
+12%
Next fiscal year
Profit margin
+40.3%
P/E
32.0
Peer P/E 17.4
Free cash flow
$1.5B
Trailing 12 months
More metrics
Net income
$1.4B
Trailing 12 months
P/S
12.7
Peer P/E
17.4
Similar listed perps
Revenue estimate
$3.5B
Next fiscal year
Earnings
2027-01-27
Revenue est. $911.6M · Updated 40m ago
Dividend
$2.05
2026-11-13

Fundamental detail

Annual + quarterly
Latest revenue$3.1B
Net margin+38.4%
Free cash flow$1.5B
Net debt$5.8B
2020$1.7B
2021$2B
2022$2.2B
2023$2.5B
2024$2.9B
2025$3.1B
PeriodRevenueGrowthNet incomeFCF
2020$1.7B+9%$601.8M$760.1M
2021$2B+21%$726M$883.3M
2022$2.2B+10%$870.6M$1B
2023$2.5B+12%$1.1B$1.1B
2024$2.9B+13%$1.1B$1.5B
2025$3.1B+10%$1.2B$1.5B
PeriodGross marginOperating marginNet marginROEROA
2020+82.8%+52.2%+35.5%-135.8%+14.3%
2021+82.4%+52.5%+35.5%-444.1%+13.2%
2022+82.0%+53.7%+38.7%-86.4%+17.4%
2023+82.3%+54.8%+45.4%-155.3%+20.8%
2024+82.0%+53.5%+38.8%-118.0%+20.4%
2025+82.4%+54.7%+38.4%-45.3%+21.1%
PeriodCashDebtNet debtCurrent ratio
2020$1.3B$3.5B$2.2B1.88
2021$1.4B$4.3B$2.9B1.71
2022$993.2M$4.6B$3.7B1.40
2023$457.8M$4.6B$4.2B0.93
2024$405.9M$4.7B$4.3B0.85
2025$515.3M$6.3B$5.8B0.90
PeriodMarket capEnterprise valueP/SP/E
2020$37.4B$39.6B22.062.1
2021$50.6B$53.5B24.769.6
2022$37.6B$41.2B16.743.2
2023$44.9B$49.1B17.839.1
2024$47.2B$51.5B16.542.6
2025$44.3B$50.1B14.136.8
Q4 2024$743.5M
Q1 2025$745.8M
Q2 2025$772.7M
Q3 2025$793.4M
Q4 2025$822.5M
Q1 2026$850.8M
Q2 2026$867M
Q3 2026$892M
PeriodRevenueGrowthNet incomeFCF
Q4 2024$743.5M+8%$305.5M$416.4M
Q1 2025$745.8M+10%$288.6M$290.2M
Q2 2025$772.7M+9%$303.7M$324.7M
Q3 2025$793.4M+9%$325.4M$445.5M
Q4 2025$822.5M+11%$284.7M$488.7M
Q1 2026$850.8M+14%$406M$278M
Q2 2026$867M+12%$342M$385.8M
Q3 2026$892M+12%$351M$385.4M
PeriodGross marginOperating marginNet marginROEROA
Q4 2024+82.3%+54.5%+41.1%-32.5%+5.6%
Q1 2025+81.7%+50.6%+38.7%-30.1%+5.4%
Q2 2025+82.2%+55.0%+39.3%-34.3%+5.7%
Q3 2025+83.3%+56.4%+41.0%-17.0%+6.0%
Q4 2025+82.6%+56.4%+34.6%-10.7%+5.0%
Q1 2026+83.3%+53.7%+47.7%-14.6%+7.3%
Q2 2026+82.7%+56.2%+39.4%-12.7%+6.1%
Q3 2026+82.9%+56.3%+39.3%-11.6%+6.3%
PeriodCashDebtNet debtCurrent ratio
Q4 2024$405.9M$4.7B$4.3B0.85
Q1 2025$357.1M$4.7B$4.3B0.84
Q2 2025$343.7M$4.7B$4.3B0.86
Q3 2025$400.1M$5.6B$5.2B0.88
Q4 2025$515.3M$6.3B$5.8B0.90
Q1 2026$385.3M$6.6B$6.2B0.86
Q2 2026$356.4M$6.5B$6.2B0.89
Q3 2026$261M$6.9B$6.6B0.82
PeriodMarket capEnterprise valueP/SP/E
Q4 2024$47B$51.3B63.238.5
Q1 2025$43.9B$48.2B58.938.0
Q2 2025$44.6B$49B57.836.8
Q3 2025$43.8B$49B55.233.4
Q4 2025$44.3B$50.1B53.838.9
Q1 2026$39.5B$45.7B46.424.3
Q2 2026$40.9B$47.1B47.229.8
Q3 2026$38.8B$45.5B43.527.7

Refreshed 40m ago

Charts: revenue, profit, cash flow & valuation
Revenue$892MQ3 2026
$223M$446M$669M$892MQ4 2023: $690.1MQ1 2024: $680MQ2 2024: $707.9MQ3 2024: $724.7MQ4 2024: $743.5MQ1 2025: $745.8MQ2 2025: $772.7MQ3 2025: $793.4MQ4 2025: $822.5MQ1 2026: $850.8MQ2 2026: $867MQ3 2026: $892MQ4 2023Q3 2026
Net income$351MQ3 2026
$101.5M$203M$304.5M$406MQ4 2023: $403.4MQ1 2024: $256MQ2 2024: $266.8MQ3 2024: $280.9MQ4 2024: $305.5MQ1 2025: $288.6MQ2 2025: $303.7MQ3 2025: $325.4MQ4 2025: $284.7MQ1 2026: $406MQ2 2026: $342MQ3 2026: $351MQ4 2023Q3 2026
EBITDA$554.4MQ3 2026
$140.8M$281.6M$422.3M$563.1MQ4 2023: $563.1MQ1 2024: $389.4MQ2 2024: $437.7MQ3 2024: $457.6MQ4 2024: $461.6MQ1 2025: $432.1MQ2 2025: $479.4MQ3 2025: $503.3MQ4 2025: $508MQ1 2026: $512.9MQ2 2026: $545MQ3 2026: $554.4MQ4 2023Q3 2026
Free cash flow$385.4MQ3 2026
$122.2M$244.3M$366.5M$488.7MQ4 2023: $385.1MQ1 2024: $275.9MQ2 2024: $321.9MQ3 2024: $415MQ4 2024: $416.4MQ1 2025: $290.2MQ2 2025: $324.7MQ3 2025: $445.5MQ4 2025: $488.7MQ1 2026: $278MQ2 2026: $385.8MQ3 2026: $385.4MQ4 2023Q3 2026
EPS$4.86Q3 2026
$1.38$2.77$4.15$5.53Q4 2023: $5.07Q1 2024: $3.22Q2 2024: $3.37Q3 2024: $3.57Q4 2024: $3.9Q1 2025: $3.71Q2 2025: $3.92Q3 2025: $4.24Q4 2025: $3.68Q1 2026: $5.53Q2 2026: $4.7Q3 2026: $4.86Q4 2023Q3 2026
Cash / Debt$261MQ3 2026
$1.7B$3.4B$5.2B$6.9BQ4 2023 · Cash: $457.8MQ4 2023 · Debt: $4.6BQ1 2024 · Cash: $515.5MQ1 2024 · Debt: $4.7BQ2 2024 · Cash: $447.5MQ2 2024 · Debt: $4.7BQ3 2024 · Cash: $497.1MQ3 2024 · Debt: $4.6BQ4 2024 · Cash: $405.9MQ4 2024 · Debt: $4.7BQ1 2025 · Cash: $357.1MQ1 2025 · Debt: $4.7BQ2 2025 · Cash: $343.7MQ2 2025 · Debt: $4.7BQ3 2025 · Cash: $400.1MQ3 2025 · Debt: $5.6BQ4 2025 · Cash: $515.3MQ4 2025 · Debt: $6.3BQ1 2026 · Cash: $385.3MQ1 2026 · Debt: $6.6BQ2 2026 · Cash: $356.4MQ2 2026 · Debt: $6.5BQ3 2026 · Cash: $261MQ3 2026 · Debt: $6.9BQ4 2023Q3 2026
CashDebt
Profitability+82.9%Q3 2026
+20.8%+41.7%+62.5%+83.3%Q4 2023 · Gross margin: +82.2%Q1 2024 · Gross margin: +81.1%Q2 2024 · Gross margin: +81.9%Q3 2024 · Gross margin: +82.6%Q4 2024 · Gross margin: +82.3%Q1 2025 · Gross margin: +81.7%Q2 2025 · Gross margin: +82.2%Q3 2025 · Gross margin: +83.3%Q4 2025 · Gross margin: +82.6%Q1 2026 · Gross margin: +83.3%Q2 2026 · Gross margin: +82.7%Q3 2026 · Gross margin: +82.9%Q4 2023 · Operating margin: +53.7%Q1 2024 · Operating margin: +49.9%Q2 2024 · Operating margin: +54.0%Q3 2024 · Operating margin: +55.4%Q4 2024 · Operating margin: +54.5%Q1 2025 · Operating margin: +50.6%Q2 2025 · Operating margin: +55.0%Q3 2025 · Operating margin: +56.4%Q4 2025 · Operating margin: +56.4%Q1 2026 · Operating margin: +53.7%Q2 2026 · Operating margin: +56.2%Q3 2026 · Operating margin: +56.3%Q4 2023 · Net margin: +58.5%Q1 2024 · Net margin: +37.6%Q2 2024 · Net margin: +37.7%Q3 2024 · Net margin: +38.8%Q4 2024 · Net margin: +41.1%Q1 2025 · Net margin: +38.7%Q2 2025 · Net margin: +39.3%Q3 2025 · Net margin: +41.0%Q4 2025 · Net margin: +34.6%Q1 2026 · Net margin: +47.7%Q2 2026 · Net margin: +39.4%Q3 2026 · Net margin: +39.3%Q4 2023Q3 2026
Gross marginOperating marginNet margin
Revenue growth+12.4%Q3 2026
+3.5%+7.0%+10.6%+14.1%Q4 2024: +7.7%Q1 2025: +9.7%Q2 2025: +9.1%Q3 2025: +9.5%Q4 2025: +10.6%Q1 2026: +14.1%Q2 2026: +12.2%Q3 2026: +12.4%Q4 2023Q3 2026
Shares outstanding72.3MQ3 2026
19.9M39.8M59.6M79.5MQ4 2023: 79.5MQ1 2024: 79.5MQ2 2024: 79.2MQ3 2024: 78.7MQ4 2024: 78.4MQ1 2025: 77.8MQ2 2025: 77.5MQ3 2025: 77.3MQ4 2025: 77.3MQ1 2026: 73.4MQ2 2026: 73.1MQ3 2026: 72.3MQ4 2023Q3 2026
Valuation27.7Q3 2026
16.232.448.664.8Q4 2023 · P/E: 27.7Q1 2024 · P/E: 42.9Q2 2024 · P/E: 35.6Q3 2024 · P/E: 40.7Q4 2024 · P/E: 38.5Q1 2025 · P/E: 38.0Q2 2025 · P/E: 36.8Q3 2025 · P/E: 33.4Q4 2025 · P/E: 38.9Q1 2026 · P/E: 24.3Q2 2026 · P/E: 29.8Q3 2026 · P/E: 27.7Q4 2023 · P/S: 64.8Q1 2024 · P/S: 64.6Q2 2024 · P/S: 53.5Q3 2024 · P/S: 63.1Q4 2024 · P/S: 63.2Q1 2025 · P/S: 58.9Q2 2025 · P/S: 57.8Q3 2025 · P/S: 55.2Q4 2025 · P/S: 53.8Q1 2026 · P/S: 46.4Q2 2026 · P/S: 47.2Q3 2026 · P/S: 43.5Q4 2023Q3 2026
P/EP/S
Revenue$3.1B2025
$783.6M$1.6B$2.4B$3.1B2018: $1.4B2019: $1.6B2020: $1.7B2021: $2B2022: $2.2B2023: $2.5B2024: $2.9B2025: $3.1B20182025
Net income$1.2B2025
$300.6M$601.2M$901.7M$1.2B2018: $507.9M2019: $563.6M2020: $601.8M2021: $726M2022: $870.6M2023: $1.1B2024: $1.1B2025: $1.2B20182025
EBITDA$1.9B2025
$483M$966.1M$1.4B$1.9B2018: $848.5M2019: $853.3M2020: $953.3M2021: $1.2B2022: $1.4B2023: $1.7B2024: $1.7B2025: $1.9B20182025
Free cash flow$1.5B2025
$387.3M$774.6M$1.2B$1.5B2018: $563.8M2019: $655.8M2020: $760.1M2021: $883.3M2022: $1B2023: $1.1B2024: $1.5B2025: $1.5B20182025
EPS$15.62025
$3.89$7.78$11.7$15.62018: $5.662019: $6.592020: $7.122021: $8.72022: $10.72023: $14.42024: $14.12025: $15.620182025
Cash / Debt$515.3M2025
$1.6B$3.2B$4.8B$6.3B2018 · Cash: $904.2M2018 · Debt: $2.6B2019 · Cash: $1.5B2019 · Debt: $3.2B2020 · Cash: $1.3B2020 · Debt: $3.5B2021 · Cash: $1.4B2021 · Debt: $4.3B2022 · Cash: $993.2M2022 · Debt: $4.6B2023 · Cash: $457.8M2023 · Debt: $4.6B2024 · Cash: $405.9M2024 · Debt: $4.7B2025 · Cash: $515.3M2025 · Debt: $6.3B20182025
CashDebt
Profitability+82.4%2025
+20.7%+41.4%+62.1%+82.8%2018 · Gross margin: +80.0%2019 · Gross margin: +81.1%2020 · Gross margin: +82.8%2021 · Gross margin: +82.4%2022 · Gross margin: +82.0%2023 · Gross margin: +82.3%2024 · Gross margin: +82.0%2025 · Gross margin: +82.4%2018 · Operating margin: +47.9%2019 · Operating margin: +48.5%2020 · Operating margin: +52.2%2021 · Operating margin: +52.5%2022 · Operating margin: +53.7%2023 · Operating margin: +54.8%2024 · Operating margin: +53.5%2025 · Operating margin: +54.7%2018 · Net margin: +35.4%2019 · Net margin: +36.2%2020 · Net margin: +35.5%2021 · Net margin: +35.5%2022 · Net margin: +38.7%2023 · Net margin: +45.4%2024 · Net margin: +38.8%2025 · Net margin: +38.4%20182025
Gross marginOperating marginNet margin
Revenue growth+9.7%2025
+5.1%+10.3%+15.4%+20.5%2019: +8.6%2020: +8.8%2021: +20.5%2022: +10.0%2023: +12.5%2024: +12.9%2025: +9.7%20182025
Shares outstanding77.3M2025
22.4M44.9M67.3M89.7M2018: 89.7M2019: 85.5M2020: 84.5M2021: 83.5M2022: 81.2M2023: 79.8M2024: 79M2025: 77.3M20182025
Valuation36.82025
17.434.852.269.62018 · P/E: 25.32019 · P/E: 38.82020 · P/E: 62.12021 · P/E: 69.62022 · P/E: 43.22023 · P/E: 39.12024 · P/E: 42.62025 · P/E: 36.82018 · P/S: 9.02019 · P/S: 14.02020 · P/S: 22.02021 · P/S: 24.72022 · P/S: 16.72023 · P/S: 17.82024 · P/S: 16.52025 · P/S: 14.120182025
P/EP/S

Next catalyst

Catalysts

Earnings
2027-01-27
Revenue est. $911.6M · Updated 40m ago
Dividend
$2.05
2026-11-13

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 202619.63$3.5B+12%11
FY 202722.38$3.8B+22%11
FY 202825.45$4.1B+32%7
FY 202929.17$4.5B+43%2
FY 203032.86$4.8B+54%4
Q1 20275.35$928.6M+9%11

Company events

6
2027-01-27EarningsActual - / Estimate 5.07-
2026-11-13Dividend$2.05-
2026-10-20EarningsActual 5.11 / Estimate 5.03Beat
2026-08-14Dividend$2.05-
2026-07-21EarningsActual 4.94 / Estimate 4.99Miss
2026-05-15Dividend$2.05-

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering MSCI have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings96233
Analysts1727
Buy / hold / sell83 / 13 / 0182 / 47 / 4
Upgrades / downgrades / initiations0 / 0 / 28 / 3 / 9
Price targets hit / missed4 / 88 (4%)37 / 180 (17%)
Avg. return after a rating (TipRanks)-12.9%-8.1%
Best / worst call+8.6% / -22.2%+39.2% / -22.2%

After buy calls on this stock: median 21-day move -0.4% vs S&P 500 -2.4% (n = 165)

Most accurate on this stock

Share of an analyst's price targets on this stock that the price reached within 12 months (our measurement over the last 3 years, at least 8 targets). It describes past calls, not the odds of the current one.

  1. Alexander HessJ.P. Morgan42% hit rate on this stock · 12 targets measuredBuytarget $710Oct 21, 2026
  2. Toni KaplanMorgan Stanley33% hit rate on this stock · 9 targets measuredBuytarget $671Oct 21, 2026
  3. Alex KrammUBS22% hit rate on this stock · 9 targets measuredBuytarget $690Oct 21, 2026

Latest ratings

DateAnalystCallTarget
Oct 20, 2026Ashish SabadraRBC CapitalBuyMaintained$655
Oct 21, 2026Alexander HessJ.P. MorganBuyReiterated$710
Oct 21, 2026Alexander HessJ.P. MorganBuyMaintained$710
Oct 21, 2026Alex KrammUBSBuyReiterated$690
Oct 21, 2026Toni KaplanMorgan StanleyBuyMaintained$671

TipRanks data via FMP · computed Oct 21, 2026 · 96 ratings

Frequently asked questions

Where can I trade MSCI perpetual futures?

MSCI Inc. (MSCI) perpetual futures trade on 2 crypto venues, including MEXC, Bitget. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade MSCI around the clock?

Yes. Unlike the underlying stock, MSCI perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on MSCI perpetuals?

Right now the MSCI perp funding rate is 0.0% annualized (venue median), ranging from 0.0% to 0.0% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the MSCI perp price compare to the MSCI Inc. stock?

The venue-median MSCI perp mark is $604.4 versus a reference stock price of $604.3, a basis of 0.0%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a MSCI perpetual future?

A MSCI perpetual is a derivative that tracks the price of MSCI Inc. with no expiry date. It lets you take long or short exposure to MSCI Inc. on crypto venues, around the clock.

What is MSCIUSDT perpetual?

MSCIUSDT is the symbol most crypto exchanges use for the MSCI Inc. perpetual settled in USDT (Tether). It tracks the MSCI share price through an index, trades 24/7 with leverage and never expires.

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