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Held by 1,002 of 5,944 reporting institutions (99th percentile) — extremely crowded.
Data as of Q1 2026
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Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $549.47 today, the market must believe free cash flow compounds 14.4%/yr for a decade (off $1.4B normalized FCF).
The market's 14.4% is more conservative than its 9-yr track record.
2-stage DCF · 0.07B shares · net debt $5.7B
mean 17.0% · volatility σ 18% · implied rate exceeded in 6/9 yrs
Central path = implied 14.4%/yr growth; shaded band = ±1σ (18%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Ranked against 838 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JPM | $941.8B | 17.4× | — | 5.2× | 2.8% | — | 31.3% | 15.7% | 13.4% | — | 4,823 |
| V | $694.5B | — | — | 17.4× | 11.3% | — | 50.1% | 52.9% | 31.8% | — | 4,229 |
| MA | $512.0B | 34.3× | — | 15.6× | 16.4% | — | 45.6% | 193% | 56.0% | — | 3,430 |
| BAC | $419.6B | 15.3× | — | 3.7× | 6.8% | — | 27.0% | 10.1% | 4.9% | — | 3,337 |
| GS | $282.1B | 18.5× | — | — | — | — | — | 13.7% | 3.6% | — | 2,857 |
| WFC | $268.7B | 13.9× | — | — | — | — | — | 11.8% | 5.7% | — | 2,691 |
| AXP | $213.5B | 20.2× | — | 5.2× | 6.4% | — | 26.2% | 32.4% | 11.9% | — | 2,787 |
| TYFG | $191.9B | 14.2× | — | 11135.5× | 10.2% | — | 79.3% | 8.7% | 8.7% | — | 1 |
| SCHW | $188.8B | 22.5× | — | 7.9× | 22.0% | — | 37.0% | 17.9% | 17.9% | — | 2,225 |
| HDB | $173.4B | 21.8× | — | 6.8× | 15.2% | — | 30.8% | 8.8% | 4.5% | — | 570 |
| UBS | $169.2B | — | — | — | — | — | — | — | — | — | 660 |
| BLK | $163.4B | 29.9× | — | 6.8× | 89.3% | — | 22.9% | 9.9% | 8.1% | — | 2,196 |
| GLD | $134.4B | — | — | — | — | — | — | — | — | — | 3,072 |
| CB | $133.7B | 13.3× | — | 2.3× | 6.5% | — | 17.4% | 14.0% | 11.3% | — | 2,002 |
| PGR | $126.8B | 11.3× | — | 1.4× | 16.3% | — | 12.9% | 37.3% | 37.3% | — | 1,685 |
| SPGI | $120.7B | 27.6× | 17.3× | 7.9× | 7.9% | 70.2% | 29.2% | 14.4% | 10.1% | 1.7× | 2,005 |
| HOOD | $97.6B | 53.6× | — | 21.8× | 51.6% | — | 42.1% | 20.6% | 20.6% | — | 1,230 |
| CME | $97.5B | 24.3× | — | 15.0× | 6.4% | — | 62.5% | 14.2% | 14.2% | — | 1,699 |
| USB | $96.4B | 13.0× | — | 3.4× | 4.4% | — | 26.4% | 11.6% | 9.2% | — | 1,901 |
| BX | $93.9B | 32.4× | — | 6.5× | 9.2% | — | 20.9% | 34.8% | 14.2% | — | 2,037 |
| PNC | $91.9B | 14.0× | — | 4.0× | 7.2% | — | 30.3% | 11.5% | 5.9% | — | 1,839 |
| AMUB | $89.8B | — | — | — | — | — | — | — | — | — | 7 |
| KKR | $87.5B | — | — | 4.5× | -11.0% | — | 12.2% | 7.7% | 7.7% | — | 1,216 |
| ICE | $86.9B | 26.6× | 20.6× | 6.9× | 7.5% | — | 26.2% | 11.5% | 6.8% | 3.8× | 1,641 |
| MRSH | $84.7B | 20.7× | 15.4× | 3.1× | 10.3% | — | 15.4% | 27.2% | 11.9% | 3.0× | 1,471 |
| MSCI | $40.4B | 35.0× | 26.6× | 12.9× | 9.7% | — | 38.4% | -45.3% | 33.9% | 3.6× | 1,002 |
Peers = companies sharing MSCI's sector (Financial Services) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.13B 100.0% | $2.86B 100.0% | $2.53B 100.0% | $2.25B 100.0% | $2.04B 100.0% | $1.70B 100.0% | $1.56B 100.0% | $1.43B 100.0% | $1.27B 100.0% | $1.15B 100.0% |
| Cost of Revenue | — | — | — | — | — | $291.7M 17.2% | $295.0M 18.9% | $287.3M 20.0% | $273.7M 21.5% | $252.1M 21.9% |
| Research & Development | $177.6M 5.7% | $158.7M 5.6% | $132.1M 5.2% | $107.2M 4.8% | $111.6M 5.5% | $101.1M 6.0% | $98.3M 6.3% | $81.4M 5.7% | $75.8M 6.0% | $75.2M 6.5% |
| Selling, General & Admin | $180.2M 5.7% | $182.3M 6.4% | $154.0M 6.1% | $146.9M 6.5% | $147.9M 7.2% | $114.6M 6.8% | $110.1M 7.1% | $99.9M 7.0% | $87.8M 6.9% | $87.2M 7.6% |
| Total Operating Expenses | $1.42B 45.3% | $1.33B 46.5% | $1.14B 45.2% | $1.04B 46.3% | $970.8M 47.5% | $810.6M 47.8% | $802.1M 51.5% | $747.1M 52.1% | $694.4M 54.5% | $662.6M 57.6% |
| Operating Income | $1.71B 54.7% | $1.53B 53.5% | $1.38B 54.8% | $1.21B 53.7% | $1.07B 52.5% | $884.8M 52.2% | $755.7M 48.5% | $686.9M 47.9% | $579.8M 45.5% | $488.1M 42.4% |
| Interest Expense | $209.9M 6.7% | $185.5M 6.5% | $186.7M 7.4% | $171.6M 7.6% | $159.6M 7.8% | $156.3M 9.2% | $148.0M 9.5% | $133.1M 9.3% | $116.1M 9.1% | $101.7M 8.8% |
| Interest & Investment Income | $16.0M 0.5% | $21.3M 0.7% | $34.5M 1.4% | $11.8M 0.5% | $1.5M 0.1% | $5.0M 0.3% | $16.4M 1.1% | $19.7M 1.4% | $6.3M 0.5% | $2.9M 0.3% |
| Other Income (Expense), net | -$219.3M -7.0% | -$172.3M -6.0% | -$15.5M -0.6% | -$163.8M -7.3% | -$214.6M -10.5% | -$198.5M -11.7% | -$152.4M -9.8% | -$57.0M -4.0% | -$112.9M -8.9% | -$102.2M -8.9% |
| Pretax Income | $1.49B 47.7% | $1.36B 47.5% | $1.37B 54.1% | $1.04B 46.4% | $858.1M 42.0% | $686.2M 40.5% | $603.3M 38.7% | $629.9M 43.9% | $466.9M 36.6% | $385.9M 33.5% |
| Income Tax Expense | $292.0M 9.3% | $247.0M 8.6% | $220.5M 8.7% | $173.3M 7.7% | $132.2M 6.5% | $84.4M 5.0% | $39.7M 2.5% | $122.0M 8.5% | $162.9M 12.8% | $125.1M 10.9% |
| Net Income | $1.20B 38.4% | $1.11B 38.8% | $1.15B 45.4% | $870.6M 38.7% | $726.0M 35.5% | $601.8M 35.5% | $563.6M 36.2% | $507.9M 35.4% | $304.0M 23.9% | $260.9M 22.7% |
| Per Share | ||||||||||
| EPS (Basic) | $15.72 | $14.09 | $14.45 | $10.78 | $8.80 | $7.19 | $6.66 | $5.83 | $3.36 | $2.72 |
| EPS (Diluted) | $15.69 | $14.05 | $14.39 | $10.72 | $8.70 | $7.12 | $6.59 | $5.66 | $3.31 | $2.70 |
| Weighted Avg Shares (Basic) | 76.5M | 78.7M | 79.5M | 80.7M | 82.5M | 83.7M | 84.6M | 87.2M | 90.3M | 96.0M |
| Weighted Avg Shares (Diluted) | 76.6M | 79.0M | 79.8M | 81.2M | 83.5M | 84.5M | 85.5M | 89.7M | 91.9M | 96.5M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
7/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Earnings are backed by cash (FCF ≥ net income) — high quality. Lower/negative accruals = higher quality (Sloan).
Comfortably covers interest; leverage rising year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 36% of free cash flow, leaving room to grow it and fund buybacks. Last year: $557M dividends + $2.5B buybacks = $3.0B returned on $1.5B FCF.
9 consecutive years of dividend increases · 24%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 34%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $515M covers the $0 due within a year 515300000.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~3.4% on $6.2B of debt.
Cash vs short-term debt unavailable.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Nothing notable to watch.
Where each multiple sits in its own 14-yr range · 50th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Returns are margin-driven, not leverage-driven — higher quality.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 20.0 | 18.9 | 17.2 | — | — | — | — | — |
| R&D | 5.7 | 6.3 | 6.0 | 5.5 | 4.8 | 5.2 | 5.6 | 5.7 |
| SG&A | 7.0 | 7.1 | 6.8 | 7.2 | 6.5 | 6.1 | 6.4 | 5.7 |
| Operating Income | 47.9 | 48.5 | 52.2 | 52.5 | 53.7 | 54.8 | 53.5 | 54.7 |
| Income Tax | 8.5 | 2.5 | 5.0 | 6.5 | 7.7 | 8.7 | 8.6 | 9.3 |
| Net Income | 35.4 | 36.2 | 35.5 | 35.5 | 38.7 | 45.4 | 38.8 | 38.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MSCI: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.