Question 1

What is MSCI's P/FCF ratio?

Accepted Answer

MSCI (MSCI) P/FCF ratio is 26.1× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month free cash flow, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/FCF ratio calculated?

Accepted Answer

P/FCF = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Free Cash Flow, where Free Cash Flow = Operating Cash Flow − Capital Expenditures. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/FCF ratio?

Accepted Answer

The price-to-free-cash-flow (P/FCF) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) free cash flow. It is calculated as market cap ÷ TTM free cash flow, where free cash flow = operating cash flow − capital expenditures. Because FCF cannot be inflated by non-cash accounting items, P/FCF is often considered a cleaner measure of "earnings-power valuation" than P/E — especially for capital-intensive businesses where depreciation diverges from real cash outflows.

Question 4

What is a good P/FCF ratio for MSCI?

Accepted Answer

Mature companies that consistently convert profit into cash often trade at 15–25× P/FCF; capital-intensive businesses with lumpy capex typically trade lower. Compare against sector peers and against the company's own multi-year average — single-year P/FCF can be distorted by working-capital swings. For MSCI specifically, the relevant sector benchmark is the current sector median of 12.0×.

Question 5

Is MSCI's P/FCF ratio high or low?

Accepted Answer

MSCI's P/FCF ratio of 26.1× is below its own 5-year average of 36.3× and above the sector median of 12.0×. That places the current reading at the 1th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is MSCI's historical P/FCF ratio range?

Accepted Answer

In the available daily series, MSCI (MSCI) P/FCF ratio has ranged from a low of 11.4× in 2008 to a high of 66.4× in 2021. The 5-year average is 36.3× and the 5-year median is 34.0×.

Question 7

What was MSCI's P/FCF ratio in 2025?

Accepted Answer

MSCI (MSCI) P/FCF ratio at the end of 2025 was 28.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month free cash flow figure available at that date.

Question 8

Why does MSCI's P/FCF ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (free cash flow). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$44.3B	$1.55B	28.6×	-4.3×	Dec 31, 2025
2024	$47B	$1.43B	32.9×	-5.6×	Dec 31, 2024
2023	$44.8B	$1.16B	38.5×	+2.1×	Dec 31, 2023
2022	$37.2B	$1.02B	36.4×	-20.2×	Dec 31, 2022
2021	$50.5B	$893M	56.6×	+8.0×	Dec 31, 2021
2020	$36.9B	$760M	48.6×	+15.2×	Dec 31, 2020
2019	$21.9B	$656M	33.4×	+10.6×	Dec 31, 2019
2018	$12.8B	$564M	22.7×	-9.4×	Dec 31, 2018
2017	$11.4B	$355M	32.1×	+13.3×	Dec 31, 2017
2016	$7.35B	$392M	18.8×	-10.1×	Dec 31, 2016
2015	$7.42B	$257M	28.9×	+8.0×	Dec 31, 2015
2014	$5.33B	$255M	20.9×	+2.1×	Dec 31, 2014
2013	$5.2B	$277M	18.8×	+6.2×	Dec 31, 2013
2012	$3.78B	$302M	12.5×	-4.7×	Dec 31, 2012
2011	$3.99B	$232M	17.2×	-6.5×	Dec 31, 2011
2010	$4.03B	$170M	23.7×	-2.3×	Nov 30, 2010
2009	$3.06B	$118M	26.0×	+14.7×	Nov 30, 2009
2008	$1.47B	$130M	11.4×	—	Nov 30, 2008
2007	$2.32B	—	—	—	Nov 30, 2007
2006	$2.09B	—	—	—	Nov 30, 2006
2005	$2.09B	—	—	—	Nov 30, 2005


UMB Financial (UMBF)	8.8×
Federal Agricultural Mortgage (AGM)	8.6×
T. Rowe Price (TROW)	8.6×
First Financial (THFF)	8.3×
Old Republic International (ORI)	8.0×
1st Source (SRCE)	8.0×
Auburn National Bancorporation (AUBN)	7.7×
Eagle Financial Services (EFSI)	7.5×
PayPal (PYPL)	7.5×
Assurant (AIZ)	7.5×
Cincinnati Financial (CINF)	7.1×
Alerus Financial (ALRS)	7.0×
American Financial Group (AFG)	6.8×
Hartford Insurance Group (HIG)	6.5×
Travelers Companies (TRV)	6.3×
Invesco (IVZ)	6.1×
Arch Capital Group (ACGL)	5.9×
Principal Financial Group (PFG)	5.5×
Allstate (ALL)	4.7×
Everest Group (EG)	4.6×
Capital One Financial (COF)	3.9×
Prudential Financial (PRU)	3.5×
Mercury General (MCY)	3.4×
MetLife (MET)	2.8×
StoneX Group (SNEX)	0.8×

P/FCF Ratio for MSCI (MSCI) 2008-2026

P/FCF Ratio daily chart for MSCI (MSCI)

Historical P/FCF Ratio for MSCI (MSCI) from 2005 to 2025

About P/FCF Ratio at MSCI (MSCI)

MSCI P/FCF Ratio by Year

MSCI P/FCF Ratio 2025: 28.6×

MSCI P/FCF Ratio 2024: 32.9×

MSCI P/FCF Ratio 2023: 38.5×

MSCI P/FCF Ratio 2022: 36.4×

MSCI P/FCF Ratio 2021: 56.6×

Sector peers by P/FCF Ratio — chart

Sector peers by P/FCF Ratio — table

Frequently asked questions

MSCI (MSCI) Key Financials