Consensus Revenue Cycle
MSCI ACWI point-in-time membership · current classification backcast · latest 15 Jul 2026
12M revenue
$59,672bn
all 11 sectors
24M revenue
$63,990bn
all 11 sectors
Forward growth (24M ÷ 12M − 1)
7.2%
all-sector forward growth
Covered securities
2,379
of 2,460 latest ACWI members
Name coverage
96.7%
strict FY1-FY3 calendarization
Forward growth ex Financials
+7.2%
24M ÷ 12M − 1, composition-controlled basket
Latest sector snapshot
| Sector | 12M revenue | 24M revenue | Growth | Covered securities | Coverage |
|---|---|---|---|---|---|
| Financials | $8,879.9bn | $9,418.1bn | 6.1% | 439 | 91.8% |
| Industrials | $8,331.2bn | $8,909.8bn | 6.9% | 416 | 99.0% |
| Information Technology | $7,971.8bn | $9,521.7bn | 19.4% | 316 | 96.6% |
| Consumer Discretionary | $7,902.6bn | $8,486.5bn | 7.4% | 213 | 96.8% |
| Energy | $6,553.8bn | $6,463.9bn | -1.4% | 97 | 99.0% |
| Health Care | $5,169.6bn | $5,472.2bn | 5.9% | 180 | 96.8% |
| Consumer Staples | $4,971.7bn | $5,195.5bn | 4.5% | 160 | 98.8% |
| Materials | $3,717.7bn | $3,837.8bn | 3.2% | 223 | 98.2% |
| Communication Services | $3,616.2bn | $4,021.6bn | 11.2% | 116 | 98.3% |
| Utilities | $1,967.5bn | $2,044.5bn | 3.9% | 130 | 97.7% |
| Real Estate | $590.1bn | $617.9bn | 4.7% | 89 | 97.8% |
Latest consensus Revenue forward growth
| Aggregate | Forward growth (24M ÷ 12M − 1) | 5Y signal | Same-base companies |
|---|---|---|---|
| Global ex Financials | +7.2% | +2.45 | 1,740 |
| Global ex Financials & hyperscalers | +6.6% | +2.20 | 1,735 |
| China ex Financials | +6.3% | -0.63 | 360 |
| India ex Financials | +6.7% | -0.22 | 109 |
| Communication Services ex Alphabet & Meta | +4.5% | +1.04 | 104 |
| Consumer Discretionary ex Amazon | +6.8% | -0.07 | 198 |
| Magnificent Seven | +17.2% | +3.32 | 7 |
| India ex Financials & Reliance | +6.9% | -0.11 | 108 |
aggregate 24M consensus ÷ aggregate 12M consensus − 1. For the time series, each point uses the exact intersection of covered security IDs at that date and 12 months earlier to control basket composition; both the 24M numerator and 12M denominator are the current-date consensus estimates. The global forward-growth signal excludes Financials because bank, insurer, and diversified-financial revenue definitions are not economically comparable with corporate sales; Financials remains visible as a standalone sector diagnostic. The hyperscaler-adjusted series additionally excludes Amazon, Alphabet (both GOOG and GOOGL security IDs), Meta, and Microsoft. Communication Services ex Alphabet/Meta removes GOOG, GOOGL, and META; Consumer Discretionary ex Amazon removes AMZN. The Magnificent Seven basket uses AAPL, AMZN, GOOGL, META, MSFT, NVDA, and TSLA, with one Alphabet share class to avoid double-counting the company; it starts on the first matched date with all seven representatives. China and India are Bloomberg corporate country-of-risk aggregates and exclude Financials; the India ex-Reliance series additionally removes Reliance Industries (RELIANCE IN Equity). Country aggregates identify the company and do not indicate the geographic source of sales. Z-scores use a trailing 60-month window with at least 24 observations, so they do not use future data. Non-positive Revenue estimates are excluded; large persistent changes are retained and only isolated reverting scale anomalies are removed.Universe counts. The latest point-in-time ACWI panel contains 2,460 constituent security IDs. Of these, 2,379 have valid FY1-FY3 estimates and period ends for strict calendarization. The broader 5,245 count in the run manifest is the union of historical member IDs encountered across the full 15-year window, not the number in the index on one date.
Classification limitation. Index membership is point-in-time. GICS and country metadata are current classifications joined to historical members by security ID, so historical reclassifications are not reconstructed.
Build quality: 93.6% of membership rows are strictly calendarizable; 51 isolated field anomalies were excluded.