MSCI Inc. (MSCI)财务
NYSE · Financial Services · Financial - Data & Stock Exchanges · 员工6,268人 · CEO Henry A. Fernandez
- 股价
- $623.38 +0.78%
- 市值
- $453亿
- 企业价值
- $519亿
- 最近财报
- Q3 '26 2026-10-20提交
- 下次财报
- 2027-01-26 EPS预期 $5.09
营收(TTM)$34.3亿+12.3% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)55.7%+1.5 百分点 对比去年同期营业利润 $19.1亿
净利润(TTM)$13.8亿+13.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$15.4亿+4.1% 对比去年同期资本支出 $7690万
稀释EPS(TTM)$18.77+19.0% 对比去年同期最近4个季度之和
净现金-$66.3亿-27.0% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $453亿 EV $519亿
- 营收
- $34.3亿 过去12个月
- 营收增速
- +12% FY2026年一致预期
- 净利润率
- 40.3% 净利润 / 营收,TTM
- P/E
- 33.2× 预期 31.7×(FY2026)
- P/S
- 13.2× 股价 / 营收,TTM
- EV / EBITDA
- 24.5× TTM
- 自由现金流
- $15.4亿 过去12个月
- 净利润
- $13.8亿 过去12个月
- 营收预期
- $35.2亿 FY2026年一致预期
- 盈利
- 2027-01-26 营收预期 $9.14亿
- 股息
- $7.95 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-20):营收符合预期,EPS 超预期1.6%营收$8.92亿,预期$8.88亿(+0.5%);EPS $5.11,预期$5.03(+1.6%)。
- 营收增长平稳:同比12.4%Q3 '26营收$8.92亿,此前四个季度的平均值为11.6%。
- 营业利润率55.7%(TTM),较去年同期+1.5 百分点营收增长12.3%,营业利润增长15.4%。
- 税前利润的17.7%被营业外亏损吞噬税前利润$16.2亿,营业利润$19.1亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的2.2%(去年为1.3%)最近4个季度投入$7690万(同比+87.1%)。自由现金流$15.4亿,相当于净利润的111.1%。
- 股东回报$26.3亿 = 自由现金流的170.7%回购$20.4亿(去年为$19.5亿),股息$5.83亿,股权激励$1.26亿(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内减少6.5%Q3 '26稀释股数7230万,一年前为7730万。
- 净债务 $66.3亿现金 + 短期投资 $2.61亿,含租赁债务 $68.9亿;一年前净债务 $52.2亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $8.92亿 | $7.93亿 | +12.4% |
| 毛利率 | 82.9% | 83.3% | -0.4 百分点 |
| 营业利润 | $5.02亿 | $4.48亿 | +12.2% |
| 营业利润率 | 56.3% | 56.4% | -0.1 百分点 |
| 净利润 | $3.51亿 | $3.25亿 | +7.9% |
| 稀释EPS | $4.86 | $4.24 | +14.6% |
| 经营现金流 | $4.36亿 | $4.49亿 | -3.0% |
| 资本支出 | $5070万 | $393万 | +1,189.4% |
| 自由现金流 | $3.85亿 | $4.46亿 | -13.5% |
| R&D | $4760万 | $4480万 | +6.2% |
| 股权激励费用 | $2750万 | $2260万 | +21.8% |
实际 vs 一致预期
2026-10-20| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $8.92亿 | $8.88亿 | +0.5% |
| EPS(一致预期口径) | $5.11 | $5.03 | +1.6% |
来自2026-10-20发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Index | $5.33亿 | +18.1% | 59.7% | $20.2亿 | +16.8% | |
| Analytics | $1.91亿 | +4.8% | 21.4% | $7.53亿 | +6.8% | |
| E S G And Climate Segment | $9370万 | +4.0% | 10.5% | – | – | |
| All Other Segments | $7470万 | +6.8% | 8.4% | $2.93亿 | +7.0% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Americas | $3.96亿 | +10.2% | 22.2% | $18.7亿 | – | |
| United States | $3.56亿 | +9.8% | 20.0% | $16.8亿 | – | |
| E M E A | $3.61亿 | +15.2% | 20.3% | $16.9亿 | – | |
| Other Europe Middle East And Africa Countries | $1.97亿 | +12.5% | 11.1% | $9.35亿 | – | |
| United Kingdom | $1.64亿 | +18.7% | 9.2% | $7.52亿 | – | |
| Asia And Australia | $1.35亿 | +11.7% | 7.6% | $6.49亿 | – | |
| Other Asia And Australia Countries | $9820万 | +11.2% | 5.5% | $4.75亿 | – | |
| Other America Countries | $3970万 | +13.9% | 2.2% | $1.88亿 | – | |
| JAPAN | $3680万 | +13.1% | 2.1% | $1.74亿 | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $16.1亿
- 资本支出
- -$7690万
- 股票回购
- -$20.4亿
- 股息
- -$5.83亿
- 收购
- -$1.75亿
- 债务净发行
- $12.2亿
- 股权激励费用
- $1.26亿
- 自由现金流
- $15.4亿
- 股东回报 / FCF
- 170.7%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 33.2× | 46.3× | 36.8× – 69.6× |
| EV / EBITDA | 24.5× | 32.2× | 25.9× – 46.4× |
| EV / 营收 | 15.1× | 19.6× | 16.0× – 26.2× |
| 股价 / FCF | 29.5× | 38.8× | 28.6× – 57.2× |
| 股价 / 净资产 | -14.9× | – | – |
| FCF收益率 | 3.4% | 2.7% | 1.7% – 3.5% |
| 投入资本回报率 | 40.3% | 28.9% | 21.2% – 35.3% |
| 净资产收益率 | -49.7% | -169.8% | -444.1% – -45.3% |
分析师
一致目标价 $687.70 (+10.3%)
区间 $615.00 – $735.00 · 评级 Buy
强烈买入1
买入19
持有6
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $35.2亿 | +12.4% | $19.70 | +26.6% | 31.7× | 11 |
| FY2027 | $38.4亿 | +9.0% | $22.52 | +14.3% | 27.7× | 11 |
| FY2028 | $41.8亿 | +8.7% | $25.59 | +13.6% | 24.4× | 8 |
| FY2029 | $44.6亿 | +6.8% | $28.51 | +11.4% | 21.9× | 5 |
| FY2030 | $48.3亿 | +8.4% | $31.96 | +12.1% | 19.5× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
MSCI Inc.在近期10-Q / 10-K文件中标记的全部263项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $590万 | $1600万 | -63.2% | $1530万 | $1450万 | +5.7% |
| Accounts Receivable, after Allowance for Credit Loss | $8.6亿 | $7.46亿 | +15.3% | $9.87亿 | $8.21亿 | +20.2% |
| Accounts Receivable, Allowance for Credit Loss, Current | $740万 | $590万 | +25.5% | $642万 | $528万 | +21.5% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $50万 | $52万 | -3.8% | $290万 | $267万 | +8.5% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $70万 | $71万 | -1.4% | $400万 | $399万 | +0.3% |
| Accrued Income Taxes, Current | $5790万 | $7720万 | -25.0% | $7440万 | $3800万 | +95.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $1.81亿2025-12-31 | $1.8亿 | +0.6% | $1.81亿 | $1.8亿 | +0.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$5850万 | -$5380万 | -8.8% | -$5160万 | -$7100万 | +27.4% |
| Additional Paid in Capital, Common Stock | $19.2亿 | $17.8亿 | +8.0% | $18亿 | $16.8亿 | +7.1% |
| Amortization of Debt Issuance Costs | $190万 | $150万 | +26.7% | $588万 | $514万 | +14.3% |
| Amortization of Intangible Assets | $4520万 | $4100万 | +10.2% | $1.69亿 | $1.64亿 | +3.3% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $2770万 | $2250万 | +23.1% | $1.12亿 | $9590万 | +16.6% |
| Assets | $56亿 | $53.9亿 | +3.8% | $57亿 | $54.5亿 | +4.7% |
| Assets, Current | $13亿 | $13.1亿 | -0.8% | $16.4亿 | $13.4亿 | +22.4% |
| Business Combination, Contingent Consideration, Liability | $1460万2025-12-31 | $2860万 | -49.0% | $1460万 | $2860万 | -49.0% |
| Business Combination, Contingent Consideration, Liability, Current | $960万2025-12-31 | $940万 | +2.1% | $960万 | $940万 | +2.1% |
| Business Combination, Contingent Consideration, Liability, Noncurrent | $500万2025-12-31 | $1920万 | -74.0% | $500万 | $1920万 | -74.0% |
| Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain | – | – | – | $0 | $0 | – |
| Capital Expenditures Incurred but Not yet Paid | -$300万 | -$200万 | -50.0% | $238万 | $263万 | -9.7% |
| Cash and Cash Equivalents, at Carrying Value | $2.61亿 | $4亿 | -34.8% | $5.15亿 | $4.09亿 | +25.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $2.61亿 | $4亿 | -34.8% | $5.15亿 | $4.09亿 | +25.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$9540万 | $5270万 | -281.0% | $1.06亿 | -$5230万 | +302.5% |
| Common Stock, Dividends, Per Share, Declared | $2.05 | $1.80 | +13.9% | $7.20 | $6.40 | +12.5% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 7.5亿 | 7.5亿 | 0.0% | 7.5亿 | 7.5亿 | 0.0% |
| Common Stock, Shares, Issued | 1.35亿 | 1.34亿 | +0.1% | 1.34亿 | 1.34亿 | +0.2% |
| Common Stock, Shares, Outstanding | 7170万 | 7520万 | -4.6% | 7360万 | 7770万 | -5.4% |
| Common Stock, Value, Issued | $130万 | $134万 | -3.2% | $134万 | $134万 | +0.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3.5亿 | $3.22亿 | +8.8% | $12.2亿 | $11亿 | +11.1% |
| Construction in Progress, Gross | $578万2025-12-31 | $154万 | +274.8% | $578万 | $154万 | +274.8% |
| Contract with Customer, Liability, Current | $10.4亿 | $9.75亿 | +6.4% | $12.3亿 | $11.2亿 | +9.6% |
| Contract with Customer, Liability, Noncurrent | $3250万 | – | – | $3400万 | $3220万 | +5.6% |
| Contract with Customer, Liability, Revenue Recognized | $2.52亿 | $2.39亿 | +5.3% | $11.2亿 | $10.2亿 | +9.8% |
| Cost of Goods and Service, Excluding Depreciation, Depletion, and Amortization | $1.52亿 | $1.33亿 | +14.9% | $5.5亿 | $5.14亿 | +7.0% |
| Costs and Expenses | $3.9亿 | $3.46亿 | +12.8% | $14.2亿 | $13.3亿 | +7.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $9530万 | $1.15亿 | -17.1% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.35亿 | $9860万 | +37.1% |
| Current Income Tax Expense (Benefit) | – | – | – | $2.45亿 | $2.31亿 | +6.1% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1480万 | $1750万 | -15.8% |
| Debt Instrument, Fair Value Disclosure | $62.4亿 | $53.4亿 | +16.8% | $60.6亿 | $41.5亿 | +46.1% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $4770万 | $4810万 | -0.8% | $5330万 | $3010万 | +77.1% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $4230万 | $1400万 | +201.9% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$454万 | -$159万 | -184.7% |
| Deferred Income Tax Assets, Net | $4560万 | $4150万 | +9.8% | $4590万 | $4060万 | +12.9% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $4670万 | $1590万 | +193.3% |
| Deferred Income Tax Liabilities, Net | $2970万 | $8280万 | -64.1% | $1.02亿 | $4760万 | +113.4% |
| Deferred Income Taxes and Tax Credits | $50万 | $3180万 | -98.4% | $4670万 | $1430万 | +225.8% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $894万 | $350万 | +155.2% |
| Deferred Tax Assets, Gross | $1.91亿2025-12-31 | $1.88亿 | +1.9% | $1.91亿 | $1.88亿 | +1.9% |
| Deferred Tax Assets, Net of Valuation Allowance | $1.9亿2025-12-31 | $1.83亿 | +3.9% | $1.9亿 | $1.83亿 | +3.9% |
| Deferred Tax Assets, Operating Loss Carryforwards | $818万2025-12-31 | $706万 | +15.8% | $818万 | $706万 | +15.8% |
| Deferred Tax Assets, Other | $3270万2025-12-31 | $1190万 | +175.7% | $3270万 | $1190万 | +175.7% |
| Deferred Tax Assets, Tax Credit Carryforwards | $4180万2025-12-31 | $2810万 | +48.8% | $4180万 | $2810万 | +48.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | $4830万2025-12-31 | $3740万 | +29.3% | $4830万 | $3740万 | +29.3% |
| Deferred Tax Assets, Valuation Allowance | $138万2025-12-31 | $488万 | -71.7% | $138万 | $488万 | -71.7% |
| Deferred Tax Liabilities, Gross | $2.46亿2025-12-31 | $1.9亿 | +29.4% | $2.46亿 | $1.9亿 | +29.4% |
| Deferred Tax Liabilities, Intangible Assets | $1.16亿2025-12-31 | $1.16亿 | +0.2% | $1.16亿 | $1.16亿 | +0.2% |
| Deferred Tax Liabilities, Leasing Arrangements | $2360万2025-12-31 | $2520万 | -6.5% | $2360万 | $2520万 | -6.5% |
| Deferred Tax Liabilities, Net | $5580万2025-12-31 | $700万 | +697.0% | $5580万 | $700万 | +697.0% |
| Deferred Tax Liabilities, Other | $1410万2025-12-31 | $515万 | +173.4% | $1410万 | $515万 | +173.4% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
数据截至 2026-11-02