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Side-by-side financial comparison of MSCI Inc. (MSCI) and UDR, Inc. (UDR). Click either name above to swap in a different company.
MSCI Inc. is the larger business by last-quarter revenue ($822.5M vs $425.8M, roughly 1.9× UDR, Inc.). UDR, Inc. runs the higher net margin — 44.6% vs 34.6%, a 10.0% gap on every dollar of revenue. On growth, MSCI Inc. posted the faster year-over-year revenue change (10.6% vs 0.9%). Over the past eight quarters, MSCI Inc.'s revenue compounded faster (10.0% CAGR vs 1.3%).
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.
UDR, Inc. is a leading U.S.-headquartered real estate investment trust specializing in owning, operating, and redeveloping high-quality multifamily residential apartment communities. It operates across major U.S. metropolitan markets, catering to a diverse tenant base including young professionals, families, and middle-to-high income households.
MSCI vs UDR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $822.5M | $425.8M |
| Net Profit | $284.7M | $189.8M |
| Gross Margin | — | — |
| Operating Margin | 56.4% | 54.0% |
| Net Margin | 34.6% | 44.6% |
| Revenue YoY | 10.6% | 0.9% |
| Net Profit YoY | -6.8% | 147.2% |
| EPS (diluted) | $3.81 | $0.63 |
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 | — | $425.8M | ||
| Q4 25 | $822.5M | $433.1M | ||
| Q3 25 | $793.4M | $431.9M | ||
| Q2 25 | $772.7M | $425.4M | ||
| Q1 25 | $745.8M | $421.9M | ||
| Q4 24 | $743.5M | $422.7M | ||
| Q3 24 | $724.7M | $420.2M | ||
| Q2 24 | $707.9M | $415.3M |
| Q1 26 | — | $189.8M | ||
| Q4 25 | $284.7M | $222.9M | ||
| Q3 25 | $325.4M | $40.4M | ||
| Q2 25 | $303.6M | $37.7M | ||
| Q1 25 | $288.6M | $76.7M | ||
| Q4 24 | $305.5M | $-5.0M | ||
| Q3 24 | $280.9M | $22.6M | ||
| Q2 24 | $266.8M | $28.9M |
| Q1 26 | — | 54.0% | ||
| Q4 25 | 56.4% | 64.1% | ||
| Q3 25 | 56.4% | 17.7% | ||
| Q2 25 | 55.0% | 18.2% | ||
| Q1 25 | 50.6% | 29.0% | ||
| Q4 24 | 54.5% | 15.7% | ||
| Q3 24 | 55.4% | 16.6% | ||
| Q2 24 | 54.0% | 16.5% |
| Q1 26 | — | 44.6% | ||
| Q4 25 | 34.6% | 51.5% | ||
| Q3 25 | 41.0% | 9.4% | ||
| Q2 25 | 39.3% | 8.9% | ||
| Q1 25 | 38.7% | 18.2% | ||
| Q4 24 | 41.1% | -220.5% | ||
| Q3 24 | 38.8% | 5.4% | ||
| Q2 24 | 37.7% | 7.0% |
| Q1 26 | — | $0.63 | ||
| Q4 25 | $3.81 | $0.67 | ||
| Q3 25 | $4.25 | $0.12 | ||
| Q2 25 | $3.92 | $0.11 | ||
| Q1 25 | $3.71 | $0.23 | ||
| Q4 24 | $3.89 | $-0.01 | ||
| Q3 24 | $3.57 | $0.06 | ||
| Q2 24 | $3.37 | $0.08 |
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 | $1.3M |
| Total DebtLower is stronger | $6.2B | — |
| Stockholders' EquityBook value | $-2.7B | $3.3B |
| Total Assets | $5.7B | $10.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3M | ||
| Q4 25 | $515.3M | $1.2M | ||
| Q3 25 | $400.1M | $1.2M | ||
| Q2 25 | $347.3M | $1.5M | ||
| Q1 25 | $360.7M | $1.3M | ||
| Q4 24 | $409.4M | $1.3M | ||
| Q3 24 | $501.0M | $2.3M | ||
| Q2 24 | $451.4M | $2.8M |
| Q1 26 | — | — | ||
| Q4 25 | $6.2B | $5.8B | ||
| Q3 25 | $5.5B | $5.8B | ||
| Q2 25 | $4.5B | $5.8B | ||
| Q1 25 | $4.5B | $5.8B | ||
| Q4 24 | $4.5B | $5.8B | ||
| Q3 24 | $4.5B | $5.9B | ||
| Q2 24 | $4.5B | $5.8B |
| Q1 26 | — | $3.3B | ||
| Q4 25 | $-2.7B | $3.3B | ||
| Q3 25 | $-1.9B | $3.3B | ||
| Q2 25 | $-886.2M | $3.3B | ||
| Q1 25 | $-958.6M | $3.3B | ||
| Q4 24 | $-940.0M | $3.4B | ||
| Q3 24 | $-751.0M | $3.5B | ||
| Q2 24 | $-734.5M | $3.7B |
| Q1 26 | — | $10.3B | ||
| Q4 25 | $5.7B | $10.6B | ||
| Q3 25 | $5.4B | $10.6B | ||
| Q2 25 | $5.4B | $10.6B | ||
| Q1 25 | $5.3B | $10.7B | ||
| Q4 24 | $5.4B | $10.9B | ||
| Q3 24 | $5.4B | $11.1B | ||
| Q2 24 | $5.5B | $11.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.77× | ||
| Q3 25 | — | 1.78× | ||
| Q2 25 | — | 1.74× | ||
| Q1 25 | — | 1.74× | ||
| Q4 24 | — | 1.69× | ||
| Q3 24 | — | 1.67× | ||
| Q2 24 | — | 1.55× |
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 | $488.7M | — |
| FCF MarginFCF / Revenue | 59.4% | — |
| Capex IntensityCapex / Revenue | 1.5% | 4.9% |
| 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 | $902.9M | ||
| Q3 25 | $449.4M | $234.9M | ||
| Q2 25 | $336.1M | $250.3M | ||
| Q1 25 | $301.7M | $156.2M | ||
| Q4 24 | $430.6M | $876.8M | ||
| Q3 24 | $421.6M | $230.3M | ||
| Q2 24 | $349.2M | $238.5M |
| Q1 26 | — | — | ||
| Q4 25 | $488.7M | $650.0M | ||
| Q3 25 | $445.5M | $164.6M | ||
| Q2 25 | $324.7M | $190.1M | ||
| Q1 25 | $290.2M | $103.2M | ||
| Q4 24 | $416.4M | $627.0M | ||
| Q3 24 | $415.0M | $161.3M | ||
| Q2 24 | $340.6M | $171.1M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 150.1% | ||
| Q3 25 | 56.2% | 38.1% | ||
| Q2 25 | 42.0% | 44.7% | ||
| Q1 25 | 38.9% | 24.5% | ||
| Q4 24 | 56.0% | 148.3% | ||
| Q3 24 | 57.3% | 38.4% | ||
| Q2 24 | 48.1% | 41.2% |
| Q1 26 | — | 4.9% | ||
| Q4 25 | 1.5% | 58.4% | ||
| Q3 25 | 0.5% | 16.3% | ||
| Q2 25 | 1.5% | 14.2% | ||
| Q1 25 | 1.5% | 12.6% | ||
| Q4 24 | 1.9% | 59.1% | ||
| Q3 24 | 0.9% | 16.4% | ||
| Q2 24 | 1.2% | 16.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.76× | 4.05× | ||
| Q3 25 | 1.38× | 5.81× | ||
| Q2 25 | 1.11× | 6.64× | ||
| Q1 25 | 1.05× | 2.04× | ||
| Q4 24 | 1.41× | — | ||
| Q3 24 | 1.50× | 10.19× | ||
| Q2 24 | 1.31× | 8.26× |
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% |
UDR
| Rental income | $423.3M | 99% |
| Joint venture management and other fees | $2.5M | 1% |
