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Side-by-side financial comparison of MSCI Inc. (MSCI) and TIC Solutions, Inc. (TIC). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $508.3M, roughly 1.6× TIC Solutions, Inc.). MSCI Inc. runs the higher net margin — 34.6% vs -9.3%, a 43.9% gap on every dollar of revenue. MSCI Inc. produced more free cash flow last quarter ($488.7M vs $37.1M).
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.
MSCI vs TIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $822.5M | $508.3M |
| Net Profit | $284.7M | $-47.2M |
| Gross Margin | — | 35.2% |
| Operating Margin | 56.4% | -3.8% |
| Net Margin | 34.6% | -9.3% |
| Revenue YoY | 10.6% | — |
| Net Profit YoY | -6.8% | — |
| 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.
| Q4 25 | $822.5M | $508.3M | ||
| Q3 25 | $793.4M | $473.9M | ||
| Q2 25 | $772.7M | $313.9M | ||
| Q1 25 | $745.8M | $234.2M | ||
| Q4 24 | $743.5M | — | ||
| Q3 24 | $724.7M | — | ||
| Q2 24 | $707.9M | — | ||
| Q1 24 | $680.0M | — |
| Q4 25 | $284.7M | $-47.2M | ||
| Q3 25 | $325.4M | $-13.9M | ||
| Q2 25 | $303.6M | $-233.0K | ||
| Q1 25 | $288.6M | $-25.8M | ||
| Q4 24 | $305.5M | — | ||
| Q3 24 | $280.9M | — | ||
| Q2 24 | $266.8M | — | ||
| Q1 24 | $256.0M | — |
| Q4 25 | — | 35.2% | ||
| Q3 25 | — | 32.2% | ||
| Q2 25 | — | 23.6% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 56.4% | -3.8% | ||
| Q3 25 | 56.4% | -1.4% | ||
| Q2 25 | 55.0% | 5.8% | ||
| Q1 25 | 50.6% | -4.0% | ||
| Q4 24 | 54.5% | — | ||
| Q3 24 | 55.4% | — | ||
| Q2 24 | 54.0% | — | ||
| Q1 24 | 49.9% | — |
| Q4 25 | 34.6% | -9.3% | ||
| Q3 25 | 41.0% | -2.9% | ||
| Q2 25 | 39.3% | -0.1% | ||
| Q1 25 | 38.7% | -11.0% | ||
| Q4 24 | 41.1% | — | ||
| Q3 24 | 38.8% | — | ||
| Q2 24 | 37.7% | — | ||
| Q1 24 | 37.6% | — |
| Q4 25 | $3.81 | — | ||
| Q3 25 | $4.25 | $-0.08 | ||
| Q2 25 | $3.92 | — | ||
| Q1 25 | $3.71 | — | ||
| Q4 24 | $3.89 | — | ||
| Q3 24 | $3.57 | — | ||
| Q2 24 | $3.37 | — | ||
| Q1 24 | $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 | $515.3M | $439.5M |
| Total DebtLower is stronger | $6.2B | $1.6B |
| Stockholders' EquityBook value | $-2.7B | $2.2B |
| Total Assets | $5.7B | $4.4B |
| Debt / EquityLower = less leverage | — | 0.74× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $515.3M | $439.5M | ||
| Q3 25 | $400.1M | $164.4M | ||
| Q2 25 | $347.3M | $130.1M | ||
| Q1 25 | $360.7M | $155.7M | ||
| Q4 24 | $409.4M | — | ||
| Q3 24 | $501.0M | — | ||
| Q2 24 | $451.4M | — | ||
| Q1 24 | $519.3M | — |
| Q4 25 | $6.2B | $1.6B | ||
| Q3 25 | $5.5B | $1.6B | ||
| Q2 25 | $4.5B | $751.3M | ||
| Q1 25 | $4.5B | $752.4M | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.5B | — | ||
| Q2 24 | $4.5B | — | ||
| Q1 24 | $4.5B | — |
| Q4 25 | $-2.7B | $2.2B | ||
| Q3 25 | $-1.9B | $2.0B | ||
| Q2 25 | $-886.2M | $1.2B | ||
| Q1 25 | $-958.6M | $1.1B | ||
| Q4 24 | $-940.0M | — | ||
| Q3 24 | $-751.0M | — | ||
| Q2 24 | $-734.5M | — | ||
| Q1 24 | $-650.5M | — |
| Q4 25 | $5.7B | $4.4B | ||
| Q3 25 | $5.4B | $4.2B | ||
| Q2 25 | $5.4B | $2.2B | ||
| Q1 25 | $5.3B | $2.2B | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.4B | — | ||
| Q2 24 | $5.5B | — | ||
| Q1 24 | $5.5B | — |
| Q4 25 | — | 0.74× | ||
| Q3 25 | — | 0.83× | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.67× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $49.7M |
| Free Cash FlowOCF − Capex | $488.7M | $37.1M |
| FCF MarginFCF / Revenue | 59.4% | 7.3% |
| Capex IntensityCapex / Revenue | 1.5% | 2.5% |
| Cash ConversionOCF / Net Profit | 1.76× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.5B | $61.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $501.1M | $49.7M | ||
| Q3 25 | $449.4M | $19.0M | ||
| Q2 25 | $336.1M | $-6.5M | ||
| Q1 25 | $301.7M | $32.8M | ||
| Q4 24 | $430.6M | — | ||
| Q3 24 | $421.6M | — | ||
| Q2 24 | $349.2M | — | ||
| Q1 24 | $300.1M | — |
| Q4 25 | $488.7M | $37.1M | ||
| Q3 25 | $445.5M | $10.3M | ||
| Q2 25 | $324.7M | $-14.5M | ||
| Q1 25 | $290.2M | $28.3M | ||
| Q4 24 | $416.4M | — | ||
| Q3 24 | $415.0M | — | ||
| Q2 24 | $340.6M | — | ||
| Q1 24 | $295.9M | — |
| Q4 25 | 59.4% | 7.3% | ||
| Q3 25 | 56.2% | 2.2% | ||
| Q2 25 | 42.0% | -4.6% | ||
| Q1 25 | 38.9% | 12.1% | ||
| Q4 24 | 56.0% | — | ||
| Q3 24 | 57.3% | — | ||
| Q2 24 | 48.1% | — | ||
| Q1 24 | 43.5% | — |
| Q4 25 | 1.5% | 2.5% | ||
| Q3 25 | 0.5% | 1.8% | ||
| Q2 25 | 1.5% | 2.6% | ||
| Q1 25 | 1.5% | 1.9% | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 1.2% | — | ||
| Q1 24 | 0.6% | — |
| Q4 25 | 1.76× | — | ||
| Q3 25 | 1.38× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 1.50× | — | ||
| Q2 24 | 1.31× | — | ||
| Q1 24 | 1.17× | — |
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% |
TIC
| Consulting Engineering Segment | $300.1M | 59% |
| Geospatial Segment | $131.3M | 26% |
| Fixed Unit Price Contracts | $54.3M | 11% |
| Other | $22.6M | 4% |
