MSCI (MSCI) FY2015 results: revenue $1.1 billion, up 7.9% on the year
MSCI Inc. (MSCI) reported revenue of $1.1 billion for fiscal 2015, the year ended 31 December 2015, up 7.9% on the year before. Net income was $224 million, down 21.3%, and diluted earnings per share $2.03. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$1.1 billion
+7.9% on the year
FY2011FY2015
Operating margin
37.6%
33.8% a year earlier
FY2011FY2015
Net income
$224 million
-21.3% on the year
FY2011FY2015
Diluted EPS
$2.03
-16.5% on the year
FY2011FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,075
997
913
+7.9%
Cost of revenue
268
277
241
-3.2%
Gross profit
807
720
673
+12.1%
Gross margin
75.1%
72.2%
73.6%
Research and development
77.3
71.1
61.0
+8.8%
Selling, general and administrative
n/a
279
232
Operating income
404
337
340
+19.8%
Operating margin
37.6%
33.8%
37.3%
Interest expense
62.4
31.8
26.3
+96.1%
Pre-tax income
350
308
313
+13.4%
Income tax
120
109
113
+9.3%
Effective tax rate
34.2%
35.5%
36.1%
Net income
224
284
223
-21.3%
Net margin
20.8%
28.5%
24.4%
Diluted EPS
$2.03
$2.43
$1.83
-16.5%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
321
306
321
+5.1%
Capital expenditure
40.7
42.7
40.3
-4.7%
Free cash flow
281
263
281
+6.7%
Free cash flow margin
26.1%
26.4%
30.8%
Cash from investing
-48.9
297
4.1
Cash from financing
4.7
-442
-147
Depreciation and amortisation
30.9
25.9
22.3
+19.1%
Share-based compensation
28.6
26.6
25.0
+7.4%
Buybacks
701
410
112
+71.1%
Dividends paid
87.7
20.4
n/a
+330.3%
Dividend per share
$0.80
$0.18
n/a
+344.4%
Diluted shares, weighted
110m
117m
121m
-5.8%
Shares outstanding at period end
101m
112m
118m
-9.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
901
1,433
1,564
-37.1%
Debt
1,579
788
810
+100.3%
Other liabilities
666
661
760
+0.7%
Total liabilities and equity
3,147
2,883
3,135
+9.2%
Fixed assets
98.9
94.1
85.6
+5.2%
Goodwill
1,566
1,565
1,813
+0.0%
Intangible assets
391
434
596
-9.7%
Investments
n/a
n/a
0.0
Cash and equivalents
778
509
358
+52.9%
Receivables
208
179
169
+16.5%
Other assets
105
102
112
+2.5%
Total assets
3,147
2,883
3,135
+9.2%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.