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Side-by-side financial comparison of IDEX Corporation (IEX) and MSCI Inc. (MSCI). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $398.4M, roughly 2.1× IDEX Corporation). MSCI Inc. runs the higher net margin — 34.6% vs 30.1%, a 4.5% gap on every dollar of revenue. On growth, IDEX Corporation posted the faster year-over-year revenue change (16.7% vs 10.6%). MSCI Inc. produced more free cash flow last quarter ($488.7M vs $86.0M). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs -29.4%).
IDEX can refer to several things, including:International Defence Exhibition, a biennial arms and defense technology sales exhibition IDEX Corporation, a publicly listed company that makes fluidics systems and specialty engineered products Ideanomics, a publicly traded company that trades under the IDEX ticker symbol.
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.
IEX vs MSCI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $398.4M | $822.5M |
| Net Profit | $120.0M | $284.7M |
| Gross Margin | 99.9% | — |
| Operating Margin | 43.3% | 56.4% |
| Net Margin | 30.1% | 34.6% |
| Revenue YoY | 16.7% | 10.6% |
| Net Profit YoY | 25.7% | -6.8% |
| EPS (diluted) | $1.61 | $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.
| Q2 26 | $398.4M | — | ||
| Q1 26 | $407.7M | — | ||
| Q4 25 | $899.1M | $822.5M | ||
| Q3 25 | $878.7M | $793.4M | ||
| Q2 25 | $865.4M | $772.7M | ||
| Q1 25 | $814.3M | $745.8M | ||
| Q4 24 | $862.9M | $743.5M | ||
| Q3 24 | $798.2M | $724.7M |
| Q2 26 | $120.0M | — | ||
| Q1 26 | $128.3M | — | ||
| Q4 25 | $128.3M | $284.7M | ||
| Q3 25 | $127.8M | $325.4M | ||
| Q2 25 | $131.6M | $303.6M | ||
| Q1 25 | $95.5M | $288.6M | ||
| Q4 24 | $123.2M | $305.5M | ||
| Q3 24 | $119.1M | $280.9M |
| Q2 26 | 99.9% | — | ||
| Q1 26 | 94.9% | — | ||
| Q4 25 | 43.1% | — | ||
| Q3 25 | 44.5% | — | ||
| Q2 25 | 45.3% | — | ||
| Q1 25 | 45.3% | — | ||
| Q4 24 | 42.5% | — | ||
| Q3 24 | 44.3% | — |
| Q2 26 | 43.3% | — | ||
| Q1 26 | 45.0% | — | ||
| Q4 25 | 20.4% | 56.4% | ||
| Q3 25 | 21.1% | 56.4% | ||
| Q2 25 | 21.7% | 55.0% | ||
| Q1 25 | 17.4% | 50.6% | ||
| Q4 24 | 19.2% | 54.5% | ||
| Q3 24 | 21.0% | 55.4% |
| Q2 26 | 30.1% | — | ||
| Q1 26 | 31.5% | — | ||
| Q4 25 | 14.3% | 34.6% | ||
| Q3 25 | 14.5% | 41.0% | ||
| Q2 25 | 15.2% | 39.3% | ||
| Q1 25 | 11.7% | 38.7% | ||
| Q4 24 | 14.3% | 41.1% | ||
| Q3 24 | 14.9% | 38.8% |
| Q2 26 | $1.61 | — | ||
| Q1 26 | $1.71 | — | ||
| Q4 25 | $1.71 | $3.81 | ||
| Q3 25 | $1.70 | $4.25 | ||
| Q2 25 | $1.74 | $3.92 | ||
| Q1 25 | $1.26 | $3.71 | ||
| Q4 24 | $1.61 | $3.89 | ||
| Q3 24 | $1.57 | $3.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $586.2M | $515.3M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | $4.0B | $-2.7B |
| Total Assets | $6.9B | $5.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $586.2M | — | ||
| Q1 26 | $580.0M | — | ||
| Q4 25 | $580.0M | $515.3M | ||
| Q3 25 | $593.8M | $400.1M | ||
| Q2 25 | $568.2M | $347.3M | ||
| Q1 25 | $594.1M | $360.7M | ||
| Q4 24 | $620.8M | $409.4M | ||
| Q3 24 | $633.2M | $501.0M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $6.2B | ||
| Q3 25 | $1.9B | $5.5B | ||
| Q2 25 | $1.9B | $4.5B | ||
| Q1 25 | $2.0B | $4.5B | ||
| Q4 24 | $2.0B | $4.5B | ||
| Q3 24 | $2.1B | $4.5B |
| Q2 26 | $4.0B | — | ||
| Q1 26 | $4.0B | — | ||
| Q4 25 | $4.0B | $-2.7B | ||
| Q3 25 | $4.0B | $-1.9B | ||
| Q2 25 | $4.0B | $-886.2M | ||
| Q1 25 | $3.9B | $-958.6M | ||
| Q4 24 | $3.8B | $-940.0M | ||
| Q3 24 | $3.8B | $-751.0M |
| Q2 26 | $6.9B | — | ||
| Q1 26 | $6.9B | — | ||
| Q4 25 | $6.9B | $5.7B | ||
| Q3 25 | $7.0B | $5.4B | ||
| Q2 25 | $6.9B | $5.4B | ||
| Q1 25 | $6.8B | $5.3B | ||
| Q4 24 | $6.7B | $5.4B | ||
| Q3 24 | $7.0B | $5.4B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.48× | — | ||
| Q2 25 | 0.46× | — | ||
| Q1 25 | 0.50× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.55× | — |
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 | $86.0M | $488.7M |
| FCF MarginFCF / Revenue | 21.6% | 59.4% |
| Capex IntensityCapex / Revenue | 4.4% | 1.5% |
| Cash ConversionOCF / Net Profit | — | 1.76× |
| TTM Free Cash FlowTrailing 4 quarters | $654.3M | $1.5B |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $209.5M | $501.1M | ||
| Q3 25 | $203.5M | $449.4M | ||
| Q2 25 | $161.7M | $336.1M | ||
| Q1 25 | $105.7M | $301.7M | ||
| Q4 24 | $172.6M | $430.6M | ||
| Q3 24 | $205.3M | $421.6M |
| Q2 26 | $86.0M | — | ||
| Q1 26 | $189.8M | — | ||
| Q4 25 | $189.8M | $488.7M | ||
| Q3 25 | $188.7M | $445.5M | ||
| Q2 25 | $146.9M | $324.7M | ||
| Q1 25 | $91.4M | $290.2M | ||
| Q4 24 | $157.1M | $416.4M | ||
| Q3 24 | $191.6M | $415.0M |
| Q2 26 | 21.6% | — | ||
| Q1 26 | 46.6% | — | ||
| Q4 25 | 21.1% | 59.4% | ||
| Q3 25 | 21.5% | 56.2% | ||
| Q2 25 | 17.0% | 42.0% | ||
| Q1 25 | 11.2% | 38.9% | ||
| Q4 24 | 18.2% | 56.0% | ||
| Q3 24 | 24.0% | 57.3% |
| Q2 26 | 4.4% | — | ||
| Q1 26 | 15.6% | — | ||
| Q4 25 | 2.2% | 1.5% | ||
| Q3 25 | 1.7% | 0.5% | ||
| Q2 25 | 1.7% | 1.5% | ||
| Q1 25 | 1.8% | 1.5% | ||
| Q4 24 | 1.8% | 1.9% | ||
| Q3 24 | 1.7% | 0.9% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.63× | 1.76× | ||
| Q3 25 | 1.59× | 1.38× | ||
| Q2 25 | 1.23× | 1.11× | ||
| Q1 25 | 1.11× | 1.05× | ||
| Q4 24 | 1.40× | 1.41× | ||
| Q3 24 | 1.72× | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IEX
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% |
