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Side-by-side financial comparison of Digital Realty (DLR) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
Digital Realty is the larger business by last-quarter revenue ($1.6B vs $822.5M, roughly 2.0× MSCI Inc.). MSCI Inc. runs the higher net margin — 34.6% vs 6.0%, a 28.6% gap on every dollar of revenue. On growth, Digital Realty posted the faster year-over-year revenue change (16.1% vs 10.6%). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs 9.8%).
Digital Realty is a real estate investment trust that owns, operates and invests in carrier-neutral data centers across the world. The company offers data center, colocation, and interconnection services.
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.
DLR vs MSCI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $822.5M |
| Net Profit | $98.6M | $284.7M |
| Gross Margin | — | — |
| Operating Margin | 6.9% | 56.4% |
| Net Margin | 6.0% | 34.6% |
| Revenue YoY | 16.1% | 10.6% |
| Net Profit YoY | -10.3% | -6.8% |
| EPS (diluted) | $0.22 | $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.
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $822.5M | ||
| Q3 25 | $1.6B | $793.4M | ||
| Q2 25 | $1.5B | $772.7M | ||
| Q1 25 | $1.4B | $745.8M | ||
| Q4 24 | $1.4B | $743.5M | ||
| Q3 24 | $1.4B | $724.7M | ||
| Q2 24 | $1.4B | $707.9M |
| Q1 26 | $98.6M | — | ||
| Q4 25 | $98.6M | $284.7M | ||
| Q3 25 | $67.8M | $325.4M | ||
| Q2 25 | $1.0B | $303.6M | ||
| Q1 25 | $110.0M | $288.6M | ||
| Q4 24 | $189.6M | $305.5M | ||
| Q3 24 | $51.2M | $280.9M | ||
| Q2 24 | $80.2M | $266.8M |
| Q1 26 | 6.9% | — | ||
| Q4 25 | 6.9% | 56.4% | ||
| Q3 25 | 8.8% | 56.4% | ||
| Q2 25 | 14.2% | 55.0% | ||
| Q1 25 | 13.9% | 50.6% | ||
| Q4 24 | 10.1% | 54.5% | ||
| Q3 24 | 11.8% | 55.4% | ||
| Q2 24 | 0.7% | 54.0% |
| Q1 26 | 6.0% | — | ||
| Q4 25 | 6.0% | 34.6% | ||
| Q3 25 | 4.3% | 41.0% | ||
| Q2 25 | 69.1% | 39.3% | ||
| Q1 25 | 7.8% | 38.7% | ||
| Q4 24 | 13.2% | 41.1% | ||
| Q3 24 | 3.6% | 38.8% | ||
| Q2 24 | 5.9% | 37.7% |
| Q1 26 | $0.22 | — | ||
| Q4 25 | $0.22 | $3.81 | ||
| Q3 25 | $0.15 | $4.25 | ||
| Q2 25 | $2.94 | $3.92 | ||
| Q1 25 | $0.27 | $3.71 | ||
| Q4 24 | $0.50 | $3.89 | ||
| Q3 24 | $0.09 | $3.57 | ||
| Q2 24 | $0.20 | $3.37 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5B | $515.3M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $22.9B | $-2.7B |
| Total Assets | $49.4B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.5B | — | ||
| Q4 25 | $3.5B | $515.3M | ||
| Q3 25 | $3.3B | $400.1M | ||
| Q2 25 | $3.6B | $347.3M | ||
| Q1 25 | $2.3B | $360.7M | ||
| Q4 24 | $3.9B | $409.4M | ||
| Q3 24 | $2.2B | $501.0M | ||
| Q2 24 | $2.3B | $451.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $6.2B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $4.5B | ||
| Q1 25 | — | $4.5B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | — | $4.5B | ||
| Q2 24 | — | $4.5B |
| Q1 26 | $22.9B | — | ||
| Q4 25 | $22.9B | $-2.7B | ||
| Q3 25 | $23.0B | $-1.9B | ||
| Q2 25 | $22.9B | $-886.2M | ||
| Q1 25 | $21.3B | $-958.6M | ||
| Q4 24 | $21.3B | $-940.0M | ||
| Q3 24 | $21.2B | $-751.0M | ||
| Q2 24 | $20.5B | $-734.5M |
| Q1 26 | $49.4B | — | ||
| Q4 25 | $49.4B | $5.7B | ||
| Q3 25 | $48.7B | $5.4B | ||
| Q2 25 | $48.7B | $5.4B | ||
| Q1 25 | $45.1B | $5.3B | ||
| Q4 24 | $45.3B | $5.4B | ||
| Q3 24 | $45.3B | $5.4B | ||
| Q2 24 | $43.6B | $5.5B |
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 | — | $501.1M |
| Free Cash FlowOCF − Capex | — | $488.7M |
| FCF MarginFCF / Revenue | — | 59.4% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | — | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $719.0M | $501.1M | ||
| Q3 25 | $652.9M | $449.4M | ||
| Q2 25 | $641.2M | $336.1M | ||
| Q1 25 | $399.1M | $301.7M | ||
| Q4 24 | $769.5M | $430.6M | ||
| Q3 24 | $566.5M | $421.6M | ||
| Q2 24 | $573.2M | $349.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $488.7M | ||
| Q3 25 | — | $445.5M | ||
| Q2 25 | — | $324.7M | ||
| Q1 25 | — | $290.2M | ||
| Q4 24 | — | $416.4M | ||
| Q3 24 | — | $415.0M | ||
| Q2 24 | — | $340.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | 59.4% | ||
| Q3 25 | — | 56.2% | ||
| Q2 25 | — | 42.0% | ||
| Q1 25 | — | 38.9% | ||
| Q4 24 | — | 56.0% | ||
| Q3 24 | — | 57.3% | ||
| Q2 24 | — | 48.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 0.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | 7.29× | 1.76× | ||
| Q3 25 | 9.63× | 1.38× | ||
| Q2 25 | 0.62× | 1.11× | ||
| Q1 25 | 3.63× | 1.05× | ||
| Q4 24 | 4.06× | 1.41× | ||
| Q3 24 | 11.07× | 1.50× | ||
| Q2 24 | 7.15× | 1.31× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLR
Segment breakdown not available.
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% |
