MSCI Inc. stock research
FY2025 Q2
MSCI (MSCI) Gross Margin — Quarter Ended Jun 30, 2025
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved slightly from the prior quarter and was higher than the year-ago period, reflecting a favorable relationship between revenue growth and cost control.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved slightly from the prior quarter and was higher than the year-ago period, reflecting a favorable relationship between revenue growth and cost control.
- The strongest observable margin driver is the consistent expansion of gross margin, which improved sequentially and year-over-year, supported by revenue growing faster than cost of revenue.
- Compared to the immediately preceding quarter, gross margin was higher, and compared to the same quarter one year earlier, gross margin was also higher. Revenue and gross profit both increased in both comparisons, while cost of revenue rose at a slower pace.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
81.5%
Gross profit
$629.6M
Revenue
$772.7M
Cost of revenue
$143.1M
Quarter-over-quarter change
+0.5 pts
Year-over-year change
+0.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Sep 30, 2024 | $724.7M | $594.2M | $130.5M | 82.0% |
| Dec 31, 2024 | $743.5M | $607.6M | $135.9M | 81.7% |
| Mar 31, 2025 | $745.8M | $604.3M | $141.5M | 81.0% |
| Jun 30, 2025 | $772.7M | $629.6M | $143.1M | 81.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+0.5 pts
Year-over-year change
Jun 30, 2024
+0.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin driver is the consistent expansion of gross margin, which improved sequentially and year-over-year, supported by revenue growing faster than cost of revenue.
Compared to the immediately preceding quarter, gross margin was higher, and compared to the same quarter one year earlier, gross margin was also higher. Revenue and gross profit both increased in both comparisons, while cost of revenue rose at a slower pace.
Monitor the trend in cost of revenue growth relative to revenue growth, as any acceleration in cost growth could pressure gross margin.