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MSCI
MSCI Inc. · Financials - Financial Data & Analytics
$581.19
+0.61% this month
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SPGI
S&P Global Inc. · Financials - Financial Data & Analytics
$410.92
+0.13% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
MSCI
3
SPGI
2
Comparison scoreboard
MSCI LEADS 3/5AI Score
MSCI ✓58.4
SPGI 49.7
1Y Return
MSCI ✓+5.95%
SPGI -17.99%
Fwd P/E
MSCI 25.79
SPGI ✓18.49
Target Up.
MSCI +18.80%
SPGI ✓+29.66%
Op. Margin
MSCI ✓53.70%
SPGI 44.28%
Metrics last refreshed: 6/22/2026
Quick take
MSCI vs SPGI Stock Comparison: AI Score, Valuation, Performance and Upside
Both MSCI and SPGI are exceptional financial data businesses with wide moats, high margins, and mission-critical status among global institutional investors — MSCI as the pure-play investment index and analytics company, and SPGI as the diversified financial intelligence conglomerate combining indices, ratings, commodities, and market data.
MSCI vs SPGI represents two elite financial data franchises — MSCI's focused index and analytics purity versus SPGI's diversified financial intelligence empire, both with extraordinary competitive moats.
Live analysis · updated 6/22/2026
MSCI holds the edge across 3 of 5 key metrics in this comparison. MSCI has delivered stronger 1-year price return (+5.95% vs -17.99%), though SPGI trades at the lower forward P/E (18.49x vs 25.79x). MSCI leads on both revenue growth (14.10%) and operating margin (53.70%), suggesting a stronger fundamental setup on both dimensions. Analyst consensus implies meaningfully more upside for SPGI (+29.66%) than for MSCI (+18.80%).
Normalized 1Y performance
MSCI
SPGI
Recent returns
MSCI
SPGI
Analyst price targets & sentiment
MSCI
Price target range
analyst mean$690.44
current price$581.19
+18.8% upside to analyst mean
SPGI · 23 analysts
STRONG BUYHOLDSTRONG SELL
Strong Buy (1.4/5.0)
Price target range
analyst high$627.00
analyst mean$532.81
current price$410.92
+29.7% upside to analyst mean
Who should consider this stock?
MSCI may suit investors who:
- →Want a pure-play financial data company focused on investment indices, ESG analytics, and risk tools with extremely high margins
- →Value MSCI's AUM-linked index revenues as a royalty on global passive investing growth
- →Prefer a simpler, more focused business model than SPGI's broader financial intelligence diversification
SPGI may suit investors who:
- →Want broader diversified financial data exposure spanning indices, credit ratings, commodities, and market intelligence
- →See credit ratings revenue recovering as debt issuance normalizes from rate-hike-suppressed levels
- →Value IHS Markit synergies adding commodity and alternative data capabilities to SPGI's already strong franchise
Performance & AI score
| Metric | MSCI | SPGI |
|---|---|---|
| AI score | 58.4 | 49.7 |
| AI rank | #192 | #493 |
| Latest close | $581.19 | $410.92 |
| 1M return | +0.61% | +0.13% |
| 6M return | +3.60% | -19.52% |
| 1Y return | +5.95% | -17.99% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | MSCI | SPGI |
|---|---|---|
| 1Y ago | $10.69K (+6.9%) started 2025-06-18 | $8.18K (-18.2%) started 2025-06-18 |
| 5Y ago | $12.26K (+22.6%) started 2021-06-21 | $10.96K (+9.6%) started 2021-06-21 |
| 10Y ago | $94.93K (+849.3%) started 2016-06-20 | $45.25K (+352.5%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | MSCI | SPGI |
|---|---|---|
| Market cap | $42.27B | $121.63B |
| Trailing P/E | 33.23 | 25.97 |
| Forward P/E | 25.79 | 18.49 |
| Price/Sales | N/A | 10.99 |
| EV/Revenue | 14.97 | 8.82 |
| Analyst target | $690.44 | $532.81 |
| Target upside | +18.80% | +29.66% |
Growth, profitability & risk
| Metric | MSCI | SPGI |
|---|---|---|
| Revenue growth | 14.10% | 10.40% |
| Earnings growth | 49.10% | 32.50% |
| EPS growth | +49.10% | +32.50% |
| FCF margin | +37.23% | +33.69% |
| Operating margin | 53.70% | 44.28% |
| Profit margin | 40.74% | 30.36% |
| ROIC proxy | N/A | 13.94% |
| Return on equity | N/A | 13.94% |
| Dividend yield | 1.41% | 0.94% |
| Beta | 1.23 | 1.08 |
| Debt/equity | N/A | 38.39 |
| Current ratio | 0.86 | 0.68 |
| Quick ratio | 0.78 | 0.57 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
MSCI max drawdown18.07%
SPGI max drawdown30.73%
MSCI max wkly drop11.32%
SPGI max wkly drop16.77%
5Y risk snapshot
MSCI max drawdown43.74%
SPGI max drawdown39.76%
MSCI max wkly drop16.00%
SPGI max wkly drop16.77%
10Y risk snapshot
MSCI max drawdown43.74%
SPGI max drawdown39.76%
MSCI max wkly drop18.28%
SPGI max wkly drop20.46%
Performance metrics by period
| Period | Metric | MSCI | SPGI |
|---|---|---|---|
| 1Y | Growth | +6.89% | -18.25% |
| CAGR | +6.90% | -18.27% | |
| Sharpe ratio | 0.22 | -0.74 | |
| Max drawdown | 18.07% | 30.73% | |
| Max daily drop | 8.91% | 11.27% | |
| Max wkly drop | 11.32% | 16.77% | |
| 5Y | Growth | +17.50% | +6.16% |
| CAGR | +3.28% | +1.20% | |
| Sharpe ratio | 0.11 | -0.01 | |
| Max drawdown | 43.74% | 39.76% | |
| Max daily drop | 13.49% | 11.27% | |
| Max wkly drop | 16.00% | 16.77% | |
| 10Y | Growth | +758.45% | +315.61% |
| CAGR | +24.00% | +15.32% | |
| Sharpe ratio | 0.70 | 0.51 | |
| Max drawdown | 43.74% | 39.76% | |
| Max daily drop | 13.49% | 15.19% | |
| Max wkly drop | 18.28% | 20.46% |
Business comparison
| Category | MSCI | SPGI |
|---|---|---|
| Company | MSCI Inc. | S&P Global Inc. |
| Sector | Financial Services | Financial Services |
| Industry | N/A | Financial Data & Stock Exchanges |
| Core business | MSCI provides investment decision support tools through equity indices (MSCI Emerging Markets, MSCI World), ESG ratings and analytics, real estate analytics (via MSCI Real Assets), and risk management tools, charging licensing fees to global asset managers. | S&P Global provides financial intelligence through its market intelligence platform, S&P and Dow Jones equity indices, credit ratings (S&P Global Ratings), commodity insights (Platts), and mobility data — a diversified financial data conglomerate following the IHS Markit merger. |
| Investor focus | Investors track MSCI's recurring subscription revenue growth, AUM-linked index licensing revenue tied to ETFs and funds benchmarked to MSCI indices, retention rates above 95%, and EBITDA margins in the 50%+ range reflecting extremely efficient scaling. | Investors track S&P Global's subscription revenue growth across market intelligence and indices, credit ratings revenue tied to debt issuance volumes, commodity insights subscription growth, and merger synergy realization from IHS Markit. |
MSCI strengths
- →MSCI indices are the most widely followed international equity benchmarks, creating a durable royalty-like fee stream from ETF and fund assets benchmarked to them
- →Recurring subscription revenue with 95%+ retention demonstrates the mission-critical nature of MSCI tools for global asset managers
- →ESG analytics positioning is well-established as ESG integration accelerates globally among institutional investors
SPGI strengths
- →S&P 500 index royalties are some of the most durable economic assets in financial services — every ETF tracking the index pays licensing fees
- →Credit ratings franchise (S&P Ratings) is one of only three major global rating agencies with oligopolistic pricing power
- →IHS Markit merger created a diversified financial data and analytics company with enormous breadth across commodities, rates, equity, and credit markets
Risks to watch — MSCI
- →AUM-linked revenues can decline in bear markets as asset values fall, creating earnings volatility despite high-quality recurring revenue
- →Index business faces philosophical questions about whether passive investing growth eventually cannibalizes active management
- →ESG ratings standards debate and potential regulatory scrutiny of ESG frameworks could affect that growth segment
Risks to watch — SPGI
- →Debt issuance cycles heavily influence credit ratings revenue — rate hikes reduce bond issuance, directly hurting ratings volumes
- →IHS Markit integration complexity and cost structure require careful execution to realize synergy targets
- →Regulatory scrutiny of credit rating agencies continues, particularly around potential conflicts of interest in the issuer-pays model
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