HIGHBuilt-inProduct / Revenue mix
57%
Index segment
“10-K Item 1: '57.0% of our revenues were attributable to our Index segment'”
MSCI · Concentration risk · 10-K extracted
MSCI (MSCI) concentration risks
Updated
The most significant concentration MSCI discloses is Index segment at 57%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Source: MSCI’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 2 disclosed concentrations
HIGH1
MEDIUM0
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
LOWOutside partyCustomer
10.8%
BlackRock
“10-K Item 1: 'our largest client organization by revenue, BlackRock, accounted for 10.8% of our consolidated operating revenues'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-03The company's disclosed concentration profile combines a product-segment tilt and a named single-customer exposure, with each exposure carrying a different character. The Index segment accounted for 57.0% of consolidated revenues — a high share by disclosed size with a structural character, reflecting the company's foundational position as the world's leading index provider and the deliberate strategic weight placed on this business over decades. This is not a dependency on any single buyer but rather the product of broad industry adoption of the company's benchmarks across passive investing and risk management. The single-customer exposure is more idiosyncratic: BlackRock, the company's largest client organization, accounted for 10.8% of consolidated operating revenues — a small share by disclosed size with a dependency character. While the share is limited at the consolidated level, BlackRock's scale as a buyer of index-linked products and data services means its relationship terms, product preferences, and fee negotiations carry disproportionate weight in renewal discussions and could affect revenue if the relationship were renegotiated materially. Together, the two exposures describe a well-understood concentration profile: a business structurally anchored in index products, with the investment community's largest asset manager as its most visible named client. The Index segment's structural dominance is the primary lens for understanding the business; BlackRock's relationship is the most material single-name variable to monitor within that context.
For the engine’s reasoning on MSCI’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Financial Data & Stock Exchanges
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| FDS | FactSet Research Systems Inc. | 2 | 1 | 1 | 4 |
| MSCI● | MSCI Inc. | 1 | 0 | 1 | 2 |
| CBOE | Cboe Global Markets, Inc. | 1 | 0 | 0 | 1 |
| ICE | Intercontinental Exchange Inc. | 1 | 0 | 0 | 1 |
| CME | CME Group Inc. | 0 | 0 | 1 | 1 |
| COIN | Coinbase Global, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.