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Side-by-side financial comparison of TopBuild Corp (BLD) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
TopBuild Corp is the larger business by last-quarter revenue ($1.5B vs $822.5M, roughly 1.8× MSCI Inc.). MSCI Inc. runs the higher net margin — 34.6% vs 7.0%, a 27.6% gap on every dollar of revenue. On growth, TopBuild Corp posted the faster year-over-year revenue change (13.2% vs 10.6%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $159.4M). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs 7.8%).
HashiCorp, Inc. is an American software company with a freemium business model based in San Francisco, California. HashiCorp provides tools and products that enable developers, operators and security professionals to provision, secure, run and connect cloud-computing infrastructure. It was founded in 2012 by Mitchell Hashimoto and Armon Dadgar. The company name HashiCorp is a portmanteau of co-founder last name Hashimoto and Corporation.
MSCI Inc. is an American finance company headquartered in New York City. MSCI is a global provider of equity, fixed income, real estate indices, multi-asset portfolio analysis tools, ESG and climate finance products. It operates the MSCI World, MSCI Emerging Markets, and MSCI All Country World (ACWI) indices, among others.
BLD vs MSCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.5B | $822.5M |
| Net Profit | $104.5M | $284.7M |
| Gross Margin | 27.2% | — |
| Operating Margin | 12.1% | 56.4% |
| Net Margin | 7.0% | 34.6% |
| Revenue YoY | 13.2% | 10.6% |
| Net Profit YoY | -30.6% | -6.8% |
| EPS (diluted) | $3.69 | $3.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.5B | $822.5M | ||
| Q3 25 | $1.4B | $793.4M | ||
| Q2 25 | $1.3B | $772.7M | ||
| Q1 25 | $1.2B | $745.8M | ||
| Q4 24 | $1.3B | $743.5M | ||
| Q3 24 | $1.4B | $724.7M | ||
| Q2 24 | $1.4B | $707.9M | ||
| Q1 24 | $1.3B | $680.0M |
| Q4 25 | $104.5M | $284.7M | ||
| Q3 25 | $142.2M | $325.4M | ||
| Q2 25 | $151.6M | $303.6M | ||
| Q1 25 | $123.4M | $288.6M | ||
| Q4 24 | $150.5M | $305.5M | ||
| Q3 24 | $169.0M | $280.9M | ||
| Q2 24 | $150.7M | $266.8M | ||
| Q1 24 | $152.4M | $256.0M |
| Q4 25 | 27.2% | — | ||
| Q3 25 | 30.1% | — | ||
| Q2 25 | 30.4% | — | ||
| Q1 25 | 28.5% | — | ||
| Q4 24 | 29.9% | — | ||
| Q3 24 | 30.7% | — | ||
| Q2 24 | 31.0% | — | ||
| Q1 24 | 30.3% | — |
| Q4 25 | 12.1% | 56.4% | ||
| Q3 25 | 15.4% | 56.4% | ||
| Q2 25 | 16.9% | 55.0% | ||
| Q1 25 | 14.4% | 50.6% | ||
| Q4 24 | 16.6% | 54.5% | ||
| Q3 24 | 17.8% | 55.4% | ||
| Q2 24 | 15.4% | 54.0% | ||
| Q1 24 | 16.8% | 49.9% |
| Q4 25 | 7.0% | 34.6% | ||
| Q3 25 | 10.2% | 41.0% | ||
| Q2 25 | 11.7% | 39.3% | ||
| Q1 25 | 10.0% | 38.7% | ||
| Q4 24 | 11.5% | 41.1% | ||
| Q3 24 | 12.3% | 38.8% | ||
| Q2 24 | 11.0% | 37.7% | ||
| Q1 24 | 11.9% | 37.6% |
| Q4 25 | $3.69 | $3.81 | ||
| Q3 25 | $5.04 | $4.25 | ||
| Q2 25 | $5.32 | $3.92 | ||
| Q1 25 | $4.23 | $3.71 | ||
| Q4 24 | $5.07 | $3.89 | ||
| Q3 24 | $5.65 | $3.57 | ||
| Q2 24 | $4.78 | $3.37 | ||
| Q1 24 | $4.79 | $3.22 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $184.7M | $515.3M |
| Total DebtLower is stronger | $2.8B | $6.2B |
| Stockholders' EquityBook value | $2.3B | $-2.7B |
| Total Assets | $6.6B | $5.7B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.7M | $515.3M | ||
| Q3 25 | $1.1B | $400.1M | ||
| Q2 25 | $842.5M | $347.3M | ||
| Q1 25 | $308.8M | $360.7M | ||
| Q4 24 | $400.3M | $409.4M | ||
| Q3 24 | $257.3M | $501.0M | ||
| Q2 24 | $463.2M | $451.4M | ||
| Q1 24 | $968.8M | $519.3M |
| Q4 25 | $2.8B | $6.2B | ||
| Q3 25 | $2.9B | $5.5B | ||
| Q2 25 | $1.9B | $4.5B | ||
| Q1 25 | $1.4B | $4.5B | ||
| Q4 24 | $1.4B | $4.5B | ||
| Q3 24 | $1.4B | $4.5B | ||
| Q2 24 | $1.4B | $4.5B | ||
| Q1 24 | $1.4B | $4.5B |
| Q4 25 | $2.3B | $-2.7B | ||
| Q3 25 | $2.2B | $-1.9B | ||
| Q2 25 | $2.1B | $-886.2M | ||
| Q1 25 | $2.1B | $-958.6M | ||
| Q4 24 | $2.2B | $-940.0M | ||
| Q3 24 | $2.1B | $-751.0M | ||
| Q2 24 | $2.4B | $-734.5M | ||
| Q1 24 | $2.7B | $-650.5M |
| Q4 25 | $6.6B | $5.7B | ||
| Q3 25 | $6.4B | $5.4B | ||
| Q2 25 | $5.1B | $5.4B | ||
| Q1 25 | $4.6B | $5.3B | ||
| Q4 24 | $4.7B | $5.4B | ||
| Q3 24 | $4.7B | $5.4B | ||
| Q2 24 | $4.9B | $5.5B | ||
| Q1 24 | $5.3B | $5.5B |
| Q4 25 | 1.23× | — | ||
| Q3 25 | 1.29× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.65× | — | ||
| Q4 24 | 0.62× | — | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 0.59× | — | ||
| Q1 24 | 0.52× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $176.7M | $501.1M |
| Free Cash FlowOCF − Capex | $159.4M | $488.7M |
| FCF MarginFCF / Revenue | 10.7% | 59.4% |
| Capex IntensityCapex / Revenue | 1.2% | 1.5% |
| Cash ConversionOCF / Net Profit | 1.69× | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $696.9M | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $176.7M | $501.1M | ||
| Q3 25 | $233.3M | $449.4M | ||
| Q2 25 | $193.7M | $336.1M | ||
| Q1 25 | $152.6M | $301.7M | ||
| Q4 24 | $266.2M | $430.6M | ||
| Q3 24 | $240.7M | $421.6M | ||
| Q2 24 | $90.4M | $349.2M | ||
| Q1 24 | $178.8M | $300.1M |
| Q4 25 | $159.4M | $488.7M | ||
| Q3 25 | $216.2M | $445.5M | ||
| Q2 25 | $182.2M | $324.7M | ||
| Q1 25 | $139.2M | $290.2M | ||
| Q4 24 | $253.7M | $416.4M | ||
| Q3 24 | $219.8M | $415.0M | ||
| Q2 24 | $74.3M | $340.6M | ||
| Q1 24 | $158.9M | $295.9M |
| Q4 25 | 10.7% | 59.4% | ||
| Q3 25 | 15.5% | 56.2% | ||
| Q2 25 | 14.0% | 42.0% | ||
| Q1 25 | 11.3% | 38.9% | ||
| Q4 24 | 19.3% | 56.0% | ||
| Q3 24 | 16.0% | 57.3% | ||
| Q2 24 | 5.4% | 48.1% | ||
| Q1 24 | 12.4% | 43.5% |
| Q4 25 | 1.2% | 1.5% | ||
| Q3 25 | 1.2% | 0.5% | ||
| Q2 25 | 0.9% | 1.5% | ||
| Q1 25 | 1.1% | 1.5% | ||
| Q4 24 | 1.0% | 1.9% | ||
| Q3 24 | 1.5% | 0.9% | ||
| Q2 24 | 1.2% | 1.2% | ||
| Q1 24 | 1.6% | 0.6% |
| Q4 25 | 1.69× | 1.76× | ||
| Q3 25 | 1.64× | 1.38× | ||
| Q2 25 | 1.28× | 1.11× | ||
| Q1 25 | 1.24× | 1.05× | ||
| Q4 24 | 1.77× | 1.41× | ||
| Q3 24 | 1.42× | 1.50× | ||
| Q2 24 | 0.60× | 1.31× | ||
| Q1 24 | 1.17× | 1.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BLD
| Distribution Segment | $755.4M | 51% |
| Residential | $557.9M | 38% |
| All Other Products | $91.9M | 6% |
| Glass And Windows | $51.5M | 3% |
| Rain Gutters | $27.1M | 2% |
MSCI
| Recurring Subscriptions | $246.4M | 30% |
| Asset Based Fees | $211.7M | 26% |
| Analytics Segment | $182.3M | 22% |
| Sustainability And Climate Segment | $90.3M | 11% |
| Other | $70.9M | 9% |
| Non Recurring | $21.1M | 3% |
