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Side-by-side financial comparison of MSCI Inc. (MSCI) and MATERION Corp (MTRN). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $549.8M, roughly 1.5× MATERION Corp). MSCI Inc. runs the higher net margin — 34.6% vs 3.5%, a 31.1% gap on every dollar of revenue. On growth, MATERION Corp posted the faster year-over-year revenue change (30.8% vs 10.6%). Over the past eight quarters, MATERION Corp's revenue compounded faster (13.6% CAGR vs 10.0%).
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.
Materion Corp. is a multinational company specializing in high-performance advanced materials. Among its products are advanced beryllium metals, thin film deposition materials, high-performance alloys and composites, specialty engineered beryllium, engineered metals, technical ceramics, tantalum, niobium, other precious and non-precious metals, inorganic chemicals, and specialty coatings.
MSCI vs MTRN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $822.5M | $549.8M |
| Net Profit | $284.7M | $19.4M |
| Gross Margin | — | 14.9% |
| Operating Margin | 56.4% | 5.1% |
| Net Margin | 34.6% | 3.5% |
| Revenue YoY | 10.6% | 30.8% |
| Net Profit YoY | -6.8% | 9.5% |
| EPS (diluted) | $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 | — | $549.8M | ||
| Q4 25 | $822.5M | $489.8M | ||
| Q3 25 | $793.4M | $444.8M | ||
| Q2 25 | $772.7M | $431.7M | ||
| Q1 25 | $745.8M | $420.3M | ||
| Q4 24 | $743.5M | $436.9M | ||
| Q3 24 | $724.7M | $436.7M | ||
| Q2 24 | $707.9M | $425.9M |
| Q1 26 | — | $19.4M | ||
| Q4 25 | $284.7M | $6.6M | ||
| Q3 25 | $325.4M | $25.4M | ||
| Q2 25 | $303.6M | $25.1M | ||
| Q1 25 | $288.6M | $17.7M | ||
| Q4 24 | $305.5M | $-48.9M | ||
| Q3 24 | $280.9M | $22.3M | ||
| Q2 24 | $266.8M | $19.0M |
| Q1 26 | — | 14.9% | ||
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | 19.1% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 21.3% | ||
| Q3 24 | — | 18.5% | ||
| Q2 24 | — | 19.0% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 56.4% | 2.2% | ||
| Q3 25 | 56.4% | 7.9% | ||
| Q2 25 | 55.0% | 8.5% | ||
| Q1 25 | 50.6% | 6.5% | ||
| Q4 24 | 54.5% | -8.8% | ||
| Q3 24 | 55.4% | 7.2% | ||
| Q2 24 | 54.0% | 7.5% |
| Q1 26 | — | 3.5% | ||
| Q4 25 | 34.6% | 1.3% | ||
| Q3 25 | 41.0% | 5.7% | ||
| Q2 25 | 39.3% | 5.8% | ||
| Q1 25 | 38.7% | 4.2% | ||
| Q4 24 | 41.1% | -11.2% | ||
| Q3 24 | 38.8% | 5.1% | ||
| Q2 24 | 37.7% | 4.5% |
| Q1 26 | — | — | ||
| Q4 25 | $3.81 | $0.30 | ||
| Q3 25 | $4.25 | $1.22 | ||
| Q2 25 | $3.92 | $1.21 | ||
| Q1 25 | $3.71 | $0.85 | ||
| Q4 24 | $3.89 | $-2.34 | ||
| Q3 24 | $3.57 | $1.07 | ||
| Q2 24 | $3.37 | $0.91 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $515.3M | $16.2M |
| Total DebtLower is stronger | $6.2B | $489.9M |
| Stockholders' EquityBook value | $-2.7B | $957.0M |
| Total Assets | $5.7B | $1.9B |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $16.2M | ||
| Q4 25 | $515.3M | $13.7M | ||
| Q3 25 | $400.1M | $16.4M | ||
| Q2 25 | $347.3M | $12.6M | ||
| Q1 25 | $360.7M | $15.6M | ||
| Q4 24 | $409.4M | $16.7M | ||
| Q3 24 | $501.0M | $17.9M | ||
| Q2 24 | $451.4M | $17.1M |
| Q1 26 | — | $489.9M | ||
| Q4 25 | $6.2B | $460.6M | ||
| Q3 25 | $5.5B | $458.9M | ||
| Q2 25 | $4.5B | $427.6M | ||
| Q1 25 | $4.5B | $453.0M | ||
| Q4 24 | $4.5B | $443.9M | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.5B | — |
| Q1 26 | — | $957.0M | ||
| Q4 25 | $-2.7B | $943.3M | ||
| Q3 25 | $-1.9B | $934.6M | ||
| Q2 25 | $-886.2M | $910.6M | ||
| Q1 25 | $-958.6M | $887.9M | ||
| Q4 24 | $-940.0M | $868.9M | ||
| Q3 24 | $-751.0M | $931.9M | ||
| Q2 24 | $-734.5M | $907.1M |
| Q1 26 | — | $1.9B | ||
| Q4 25 | $5.7B | $1.8B | ||
| Q3 25 | $5.4B | $1.8B | ||
| Q2 25 | $5.4B | $1.7B | ||
| Q1 25 | $5.3B | $1.8B | ||
| Q4 24 | $5.4B | $1.7B | ||
| Q3 24 | $5.4B | $1.9B | ||
| Q2 24 | $5.5B | $1.8B |
| Q1 26 | — | 0.51× | ||
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $501.1M | $19.5M | ||
| Q3 25 | $449.4M | $18.3M | ||
| Q2 25 | $336.1M | $49.9M | ||
| Q1 25 | $301.7M | $15.5M | ||
| Q4 24 | $430.6M | $76.3M | ||
| Q3 24 | $421.6M | $5.1M | ||
| Q2 24 | $349.2M | $20.3M |
| Q1 26 | — | — | ||
| Q4 25 | $488.7M | — | ||
| Q3 25 | $445.5M | — | ||
| Q2 25 | $324.7M | — | ||
| Q1 25 | $290.2M | $3.2M | ||
| Q4 24 | $416.4M | — | ||
| Q3 24 | $415.0M | $-24.3M | ||
| Q2 24 | $340.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 56.2% | — | ||
| Q2 25 | 42.0% | — | ||
| Q1 25 | 38.9% | 0.8% | ||
| Q4 24 | 56.0% | — | ||
| Q3 24 | 57.3% | -5.6% | ||
| Q2 24 | 48.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | — | ||
| Q3 25 | 0.5% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 1.5% | 2.9% | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 0.9% | 6.7% | ||
| Q2 24 | 1.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | 2.97× | ||
| Q3 25 | 1.38× | 0.72× | ||
| Q2 25 | 1.11× | 1.99× | ||
| Q1 25 | 1.05× | 0.88× | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 1.50× | 0.23× | ||
| Q2 24 | 1.31× | 1.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
MTRN
Segment breakdown not available.
