Company Valuation: MSCI, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 50,514 37,194 44,738 47,024 43,110 41,494 - -
Change - -26.37% 20.28% 5.11% -8.32% -3.75% - -
Enterprise Value (EV) 1 53,254 40,713 48,784 51,125 48,797 47,327 47,149 46,906
Change - -23.55% 19.83% 4.8% -4.55% -3.01% -0.38% -0.51%
P/E 70.4x 43.4x 39.3x 42.7x 36.6x 28.9x 26.3x 23.1x
PBR -309x -36.9x -60.5x -49.6x -15.9x -15.6x -15.3x -15.1x
PEG - 1.9x 1.1x -18.07x 3.1x 1.1x 2.67x 1.7x
Capitalization / Revenue 24.7x 16.5x 17.7x 16.5x 13.8x 11.8x 10.9x 10x
EV / Revenue 26.1x 18.1x 19.3x 17.9x 15.6x 13.5x 12.3x 11.3x
EV / EBITDA 44.5x 30.6x 32x 29.8x 25.6x 21.9x 19.8x 18x
EV / EBIT 49.6x 33.7x 35.2x 33.4x 28.5x 24.1x 21.6x 19.5x
EV / FCF 60.3x 39.8x 42.6x 36.9x 33.5x 29.4x 26.5x 23.9x
FCF Yield 1.66% 2.51% 2.35% 2.71% 2.99% 3.4% 3.78% 4.18%
Dividend per Share 2 3.64 4.58 5.52 6.4 7.2 8.143 9.293 10.57
Rate of return 0.59% 0.98% 0.98% 1.07% 1.25% 1.43% 1.63% 1.85%
EPS 2 8.7 10.72 14.39 14.05 15.69 19.75 21.7 24.68
Distribution rate 41.8% 42.7% 38.4% 45.6% 45.9% 41.2% 42.8% 42.8%
Net sales 1 2,044 2,249 2,529 2,856 3,134 3,513 3,822 4,135
EBITDA 1 1,197 1,330 1,523 1,716 1,906 2,160 2,381 2,600
EBIT 1 1,073 1,208 1,385 1,529 1,714 1,962 2,182 2,401
Net income 1 726 870.6 1,149 1,109 1,202 1,431 1,547 1,725
Net Debt 1 2,740 3,518 4,046 4,101 5,687 5,832 5,655 5,412
Reference price 2 612.69 465.17 565.65 600.01 573.73 570.76 570.76 570.76
Nbr of stocks (in thousands) 82,447 79,958 79,091 78,371 75,140 72,700 - -
Announcement Date 27/01/22 31/01/23 30/01/24 29/01/25 28/01/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.89x13.47x21.91x1.43% 4.15TCr
27.6x9.85x18.66x0.89% 13TCr
26.21x5.94x14.89x2.42% 4.6TCr
29.1x4.1x12.96x1.15% 2.28TCr
13.46x3.1x9.28x3.84% 1.82TCr
20.09x4.02x11.39x0.59% 1.64TCr
25.47x5.2x13.17x2.84% 1.63TCr
20.5x4.9x13.12x1.46% 1.1TCr
40.73x - - 0.71% 340.68Cr
Average 25.78x 6.32x 14.42x 1.7% 3.4TCr
Weighted average by Cap. 26.22x 8.17x 16.65x 1.49%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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