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FDS vs ICE vs CME vs MSCI

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
FDS
FactSet Research Systems Inc.

Financial - Data & Stock Exchanges

Financial ServicesNYSE • US
Market Cap$9.62B
5Y Perf.-27.3%
ICE
Intercontinental Exchange, Inc.

Financial - Data & Stock Exchanges

Financial ServicesNYSE • US
Market Cap$88.26B
5Y Perf.+60.2%
CME
CME Group Inc.

Financial - Data & Stock Exchanges

Financial ServicesNASDAQ • US
Market Cap$102.04B
5Y Perf.+54.0%
MSCI
MSCI Inc.

Financial - Data & Stock Exchanges

Financial ServicesNYSE • US
Market Cap$42.62B
5Y Perf.+78.0%

FDS vs ICE vs CME vs MSCI — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
FDS logoFDS
ICE logoICE
CME logoCME
MSCI logoMSCI
IndustryFinancial - Data & Stock ExchangesFinancial - Data & Stock ExchangesFinancial - Data & Stock ExchangesFinancial - Data & Stock Exchanges
Market Cap$9.62B$88.26B$102.04B$42.62B
Revenue (TTM)$2.32B$12.64B$6.52B$3.13B
Net Income (TTM)$600M$3.30B$4.24B$1.32B
Gross Margin52.7%61.9%86.1%82.4%
Operating Margin32.2%38.7%64.9%54.7%
Forward P/E12.6x19.3x23.0x29.8x
Total Debt$1.56B$20.28B$3.76B$6.31B
Cash & Equiv.$338M$837M$4.42B$515M

FDS vs ICE vs CME vs MSCILong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

FDS
ICE
CME
MSCI
StockMay 20May 26Return
FactSet Research Sy… (FDS)10072.7-27.3%
Intercontinental Ex… (ICE)100160.2+60.2%
CME Group Inc. (CME)100154.0+54.0%
MSCI Inc. (MSCI)100178.0+78.0%

Price return only. Dividends and distributions are not included.

Quick Verdict: FDS vs ICE vs CME vs MSCI

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: FDS leads in 3 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. MSCI Inc. is the stronger pick specifically for growth and revenue expansion and recent price momentum and sentiment. ICE and CME also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
FDS
FactSet Research Systems Inc.
The Banking Pick

FDS carries the broadest edge in this set and is the clearest fit for income & stability and valuation efficiency.

  • Dividend streak 21 yrs, beta 0.36, yield 1.9%
  • PEG 1.26 vs ICE's 2.18
  • Beta 0.36, yield 1.9%, current ratio 1.40x
  • Lower P/E (12.6x vs 29.8x), PEG 1.26 vs 1.76
Best for: income & stability and valuation efficiency
ICE
Intercontinental Exchange, Inc.
The Banking Pick

ICE is the clearest fit if your priority is growth exposure and sleep-well-at-night.

  • Rev growth 7.5%, EPS growth 20.7%
  • Lower volatility, beta 0.30, Low D/E 69.9%, current ratio 1.02x
  • Beta 0.30 vs MSCI's 0.58
Best for: growth exposure and sleep-well-at-night
CME
CME Group Inc.
The Banking Pick

CME is the clearest fit if your priority is long-term compounding.

  • 279.0% 10Y total return vs MSCI's 7.2%
  • 3.9% yield, 6-year raise streak, vs FDS's 1.9%
Best for: long-term compounding
MSCI
MSCI Inc.
The Banking Pick

MSCI is the #2 pick in this set and the best alternative if growth and momentum is your priority.

  • 9.7% NII/revenue growth vs FDS's 5.4%
  • +6.3% vs FDS's -49.2%
Best for: growth and momentum
See the full category breakdown
CategoryWinnerWhy
GrowthMSCI logoMSCI9.7% NII/revenue growth vs FDS's 5.4%
ValueFDS logoFDSLower P/E (12.6x vs 29.8x), PEG 1.26 vs 1.76
Quality / MarginsFDS logoFDSEfficiency ratio 0.2% vs MSCI's 0.3% (lower = leaner)
Stability / SafetyICE logoICEBeta 0.30 vs MSCI's 0.58
DividendsCME logoCME3.9% yield, 6-year raise streak, vs FDS's 1.9%
Momentum (1Y)MSCI logoMSCI+6.3% vs FDS's -49.2%
Efficiency (ROA)FDS logoFDSEfficiency ratio 0.2% vs MSCI's 0.3%

FDS vs ICE vs CME vs MSCI — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

FDSFactSet Research Systems Inc.
FY 2011
U.S.
82.6%$498M
United Kingdom
17.4%$105M
ICEIntercontinental Exchange, Inc.
FY 2025
Fixed Income And Data Services Segment
51.1%$1.4B
Exchanges Segment
38.8%$1.0B
Mortgage Technology Segment
10.1%$269M
CMECME Group Inc.
FY 2025
clearing and transaction fees
81.0%$5.3B
MarketData
12.3%$803M
OtherRevenue
6.7%$436M
MSCIMSCI Inc.
FY 2025
Index
64.3%$1.8B
Analytics
25.7%$714M
All Other Segments
10.0%$279M

FDS vs ICE vs CME vs MSCI — Financial Metrics

Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLCMELAGGINGMSCI

Income & Cash Flow (Last 12 Months)

CME leads this category, winning 4 of 5 comparable metrics.

ICE is the larger business by revenue, generating $12.6B annually — 5.4x FDS's $2.3B. CME is the more profitable business, keeping 62.0% of every revenue dollar as net income compared to FDS's 25.7%.

MetricFDS logoFDSFactSet Research …ICE logoICEIntercontinental …CME logoCMECME Group Inc.MSCI logoMSCIMSCI Inc.
RevenueTrailing 12 months$2.3B$12.6B$6.5B$3.1B
EBITDAEarnings before interest/tax$947M$6.5B$4.7B$2.0B
Net IncomeAfter-tax profit$600M$3.3B$4.2B$1.3B
Free Cash FlowCash after capex$647M$4.3B$4.4B$1.5B
Gross MarginGross profit ÷ Revenue+52.7%+61.9%+86.1%+82.4%
Operating MarginEBIT ÷ Revenue+32.2%+38.7%+64.9%+54.7%
Net MarginNet income ÷ Revenue+25.7%+26.1%+62.0%+38.4%
FCF MarginFCF ÷ Revenue+26.6%+33.9%+64.3%+49.4%
Rev. Growth (YoY)Latest quarter vs prior year
EPS Growth (YoY)Latest quarter vs prior year+4.4%+23.1%+21.4%+49.1%
CME leads this category, winning 4 of 5 comparable metrics.

Valuation Metrics

FDS leads this category, winning 6 of 7 comparable metrics.

At 14.4x trailing earnings, FDS trades at a 62% valuation discount to MSCI's 37.6x P/E. Adjusting for growth (PEG ratio), FDS offers better value at 1.44x vs ICE's 3.04x — a lower PEG means you pay less per unit of expected earnings growth.

MetricFDS logoFDSFactSet Research …ICE logoICEIntercontinental …CME logoCMECME Group Inc.MSCI logoMSCIMSCI Inc.
Market CapShares × price$9.6B$88.3B$102.0B$42.6B
Enterprise ValueMkt cap + debt − cash$10.8B$107.7B$101.4B$48.4B
Trailing P/EPrice ÷ TTM EPS14.38x27.01x25.20x37.62x
Forward P/EPrice ÷ next-FY EPS est.12.60x19.34x22.98x29.83x
PEG RatioP/E ÷ EPS growth rate1.44x3.04x1.84x2.22x
EV / EBITDAEnterprise value multiple11.57x16.68x22.50x25.06x
Price / SalesMarket cap ÷ Revenue4.14x6.98x15.65x13.60x
Price / BookPrice ÷ Book value/share3.93x3.07x3.53x
Price / FCFMarket cap ÷ FCF15.58x20.58x24.33x27.51x
FDS leads this category, winning 6 of 7 comparable metrics.

Profitability & Efficiency

Evenly matched — CME and MSCI each lead in 3 of 9 comparable metrics.

FDS delivers a 27.7% return on equity — every $100 of shareholder capital generates $28 in annual profit, vs $12 for ICE. CME carries lower financial leverage with a 0.13x debt-to-equity ratio, signaling a more conservative balance sheet compared to FDS's 0.71x. On the Piotroski fundamental quality scale (0–9), ICE scores 9/9 vs CME's 5/9, reflecting strong financial health.

MetricFDS logoFDSFactSet Research …ICE logoICEIntercontinental …CME logoCMECME Group Inc.MSCI logoMSCIMSCI Inc.
ROE (TTM)Return on equity+27.7%+11.6%+15.3%
ROA (TTM)Return on assets+14.2%+2.3%+2.2%+24.0%
ROICReturn on invested capital+15.5%+7.5%+10.2%+34.9%
ROCEReturn on capital employed+20.9%+9.5%+3.6%+44.3%
Piotroski ScoreFundamental quality 0–97958
Debt / EquityFinancial leverage0.71x0.70x0.13x
Net DebtTotal debt minus cash$1.2B$19.4B-$666M$5.8B
Cash & Equiv.Liquid assets$338M$837M$4.4B$515M
Total DebtShort + long-term debt$1.6B$20.3B$3.8B$6.3B
Interest CoverageEBIT ÷ Interest expense14.22x6.53x41.55x7.67x
Evenly matched — CME and MSCI each lead in 3 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

CME leads this category, winning 4 of 6 comparable metrics.

A $10,000 investment in CME five years ago would be worth $15,775 today (with dividends reinvested), compared to $7,249 for FDS. Over the past 12 months, MSCI leads with a +6.3% total return vs FDS's -49.2%. The 3-year compound annual growth rate (CAGR) favors CME at 19.0% vs FDS's -16.3% — a key indicator of consistent wealth creation.

MetricFDS logoFDSFactSet Research …ICE logoICEIntercontinental …CME logoCMECME Group Inc.MSCI logoMSCIMSCI Inc.
YTD ReturnYear-to-date-21.1%-2.3%+7.1%+3.9%
1-Year ReturnPast 12 months-49.2%-10.6%+3.7%+6.3%
3-Year ReturnCumulative with dividends-41.4%+50.5%+68.4%+28.0%
5-Year ReturnCumulative with dividends-27.5%+43.7%+57.8%+28.8%
10-Year ReturnCumulative with dividends+68.3%+224.7%+279.0%+717.0%
CAGR (3Y)Annualised 3-year return-16.3%+14.6%+19.0%+8.6%
CME leads this category, winning 4 of 6 comparable metrics.

Risk & Volatility

Evenly matched — CME and MSCI each lead in 1 of 2 comparable metrics.

CME is the less volatile stock with a -0.32 beta — it tends to amplify market swings less than MSCI's 0.58 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MSCI currently trades 93.5% from its 52-week high vs FDS's 47.1% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricFDS logoFDSFactSet Research …ICE logoICEIntercontinental …CME logoCMECME Group Inc.MSCI logoMSCIMSCI Inc.
Beta (5Y)Sensitivity to S&P 5000.36x0.30x-0.32x0.58x
52-Week HighHighest price in past year$474.79$189.35$329.16$626.28
52-Week LowLowest price in past year$189.07$143.17$257.17$501.08
% of 52W HighCurrent price vs 52-week peak+47.1%+82.3%+85.4%+93.5%
RSI (14)Momentum oscillator 0–10050.045.442.257.8
Avg Volume (50D)Average daily shares traded899K3.0M2.2M519K
Evenly matched — CME and MSCI each lead in 1 of 2 comparable metrics.

Analyst Outlook

Evenly matched — FDS and CME each lead in 1 of 2 comparable metrics.

Analyst consensus: FDS as "Hold", ICE as "Buy", CME as "Hold", MSCI as "Buy". Consensus price targets imply 25.6% upside for ICE (target: $196) vs 13.9% for CME (target: $320). For income investors, CME offers the higher dividend yield at 3.88% vs MSCI's 1.23%.

MetricFDS logoFDSFactSet Research …ICE logoICEIntercontinental …CME logoCMECME Group Inc.MSCI logoMSCIMSCI Inc.
Analyst RatingConsensus buy/hold/sellHoldBuyHoldBuy
Price TargetConsensus 12-month target$277.89$195.71$320.25$674.33
# AnalystsCovering analysts28363527
Dividend YieldAnnual dividend ÷ price+1.9%+1.2%+3.9%+1.2%
Dividend StreakConsecutive years of raises2114611
Dividend / ShareAnnual DPS$4.17$1.93$10.92$7.20
Buyback YieldShare repurchases ÷ mkt cap+3.1%+1.6%+0.3%+5.8%
Evenly matched — FDS and CME each lead in 1 of 2 comparable metrics.
Key Takeaway

CME leads in 2 of 6 categories (Income & Cash Flow, Total Returns). FDS leads in 1 (Valuation Metrics). 3 tied.

Best OverallCME Group Inc. (CME)Leads 2 of 6 categories
Loading custom metrics...

FDS vs ICE vs CME vs MSCI: Key Questions Answered

10 questions · data-driven answers · updated daily

01

Is FDS or ICE or CME or MSCI a better buy right now?

For growth investors, MSCI Inc.

(MSCI) is the stronger pick with 9. 7% revenue growth year-over-year, versus 5. 4% for FactSet Research Systems Inc. (FDS). FactSet Research Systems Inc. (FDS) offers the better valuation at 14. 4x trailing P/E (12. 6x forward), making it the more compelling value choice. Analysts rate Intercontinental Exchange, Inc. (ICE) a "Buy" — based on 36 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which has the better valuation — FDS or ICE or CME or MSCI?

On trailing P/E, FactSet Research Systems Inc.

(FDS) is the cheapest at 14. 4x versus MSCI Inc. at 37. 6x. On forward P/E, FactSet Research Systems Inc. is actually cheaper at 12. 6x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: FactSet Research Systems Inc. wins at 1. 26x versus Intercontinental Exchange, Inc. 's 2. 18x — a reasonable growth-adjusted valuation.

03

Which is the better long-term investment — FDS or ICE or CME or MSCI?

Over the past 5 years, CME Group Inc.

(CME) delivered a total return of +57. 8%, compared to -27. 5% for FactSet Research Systems Inc. (FDS). Over 10 years, the gap is even starker: MSCI returned +717. 0% versus FDS's +68. 3%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — FDS or ICE or CME or MSCI?

By beta (market sensitivity over 5 years), CME Group Inc.

(CME) is the lower-risk stock at -0. 32β versus MSCI Inc. 's 0. 58β — meaning MSCI is approximately -281% more volatile than CME relative to the S&P 500. On balance sheet safety, CME Group Inc. (CME) carries a lower debt/equity ratio of 13% versus 71% for FactSet Research Systems Inc. — giving it more financial flexibility in a downturn.

05

Which is growing faster — FDS or ICE or CME or MSCI?

By revenue growth (latest reported year), MSCI Inc.

(MSCI) is pulling ahead at 9. 7% versus 5. 4% for FactSet Research Systems Inc. (FDS). On earnings-per-share growth, the picture is similar: Intercontinental Exchange, Inc. grew EPS 20. 7% year-over-year, compared to 10. 7% for MSCI Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

06

Which has better profit margins — FDS or ICE or CME or MSCI?

CME Group Inc.

(CME) is the more profitable company, earning 62. 0% net margin versus 25. 7% for FactSet Research Systems Inc. — meaning it keeps 62. 0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: CME leads at 64. 9% versus 32. 2% for FDS. At the gross margin level — before operating expenses — CME leads at 86. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

07

Is FDS or ICE or CME or MSCI more undervalued right now?

The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.

By this metric, FactSet Research Systems Inc. (FDS) is the more undervalued stock at a PEG of 1. 26x versus Intercontinental Exchange, Inc. 's 2. 18x. A PEG below 1. 5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, FactSet Research Systems Inc. (FDS) trades at 12. 6x forward P/E versus 29. 8x for MSCI Inc. — 17. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for ICE: 25. 6% to $195. 71.

08

Which pays a better dividend — FDS or ICE or CME or MSCI?

All stocks in this comparison pay dividends.

CME Group Inc. (CME) offers the highest yield at 3. 9%, versus 1. 2% for MSCI Inc. (MSCI).

09

Is FDS or ICE or CME or MSCI better for a retirement portfolio?

For long-horizon retirement investors, CME Group Inc.

(CME) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β -0. 32), 3. 9% yield, +279. 0% 10Y return). Both have compounded well over 10 years (CME: +279. 0%, FDS: +68. 3%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

10

What are the main differences between FDS and ICE and CME and MSCI?

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: FDS is a small-cap deep-value stock; ICE is a mid-cap quality compounder stock; CME is a mid-cap income-oriented stock; MSCI is a mid-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

Find Stocks Like These

Explore pre-built screens for each stock's profile, or build a custom screen to find stocks that outperform all of them.

Stocks Like

FDS

Dividend Mega-Cap Quality

  • Sector: Financial Services
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 15%
Run This Screen
Stocks Like

ICE

Quality Mega-Cap Compounder

  • Sector: Financial Services
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 15%
Run This Screen
Stocks Like

CME

Dividend Mega-Cap Quality

  • Sector: Financial Services
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 37%
Run This Screen
Stocks Like

MSCI

Quality Mega-Cap Compounder

  • Sector: Financial Services
  • Market Cap > $100B
  • Revenue Growth > 5%
  • Net Margin > 23%
Run This Screen
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Beat Both

Find stocks that outperform FDS and ICE and CME and MSCI on the metrics below

Revenue Growth>
%
(FDS: 5.4% · ICE: 7.5%)
Net Margin>
%
(FDS: 25.7% · ICE: 26.1%)
P/E Ratio<
x
(FDS: 14.4x · ICE: 27.0x)

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