S&P Global (SPGI) vs MSCI (MSCI): the numbers side by side
By Lubin Danilo, founder of Lubin Investment
S&P Global and MSCI score the same on our 10 quality criteria. The tie-break therefore comes down to price, and to what you make of their prospects.
Both stocks side by side
| Metric | S&P Global (SPGI) | MSCI (MSCI) |
|---|---|---|
| Quality score | 9/10 | 9/10 |
| P/FCF | 23.6× | 31.0× |
| Sector | Financial Data & Stock Exchanges | Financial Data & Stock Exchanges |
| Price | 424.44 USD | 615.48 USD |
| Market cap | 126.3B | 45.2B |
Quality: which one passes more criteria
S&P Global and MSCI pass the same number of criteria, 9/10. Financial quality therefore does not separate them on our criteria.
Price: which one is cheaper
S&P Global trades at 23.6× its free cash flow, against 31.0× for MSCI. A lower multiple means you pay fewer years of cash for the same slice of the business. Mind the reflex though: a low multiple is only a bargain if the quality holds up. That is why we judge the two separately, and never one through the other.
S&P Global's accounts are public: 10-K filings with the SEC (EDGAR).
MSCI's accounts are public: 10-K filings with the SEC (EDGAR).
How to decide
There is no "better stock" in the abstract, there is a better stock for a given goal. If you want the most solid financial quality, follow the score. If you want to pay the least for the cash produced, follow the P/FCF. If both point to the same name, the case is simple. If they diverge, you are trading off paying more for a better business against paying less for a more questionable one. The two detailed pages below give the criterion-by-criterion breakdown for S&P Global and for MSCI.
Frequently asked questions
Should you buy S&P Global or MSCI?
S&P Global and MSCI pass the same number of criteria, 9/10. Financial quality therefore does not separate them on our criteria. S&P Global trades at 23.6× its free cash flow, against 31.0× for MSCI. A lower multiple means you pay fewer years of cash for the same slice of the business. Mind the reflex though: a low multiple is only a bargain if the quality holds up. That is why we judge the two separately, and never one through the other.
S&P Global or MSCI: which one is cheaper?
S&P Global : 23.6× against 31.0×.
Can you hold both?
Nothing prevents it, and it is common when both pass our quality criteria. Keep in mind that two companies in the same sector often react to the same shocks, so holding both diversifies less than it looks. This page is a numbers comparison, not a recommendation.