Morningstar (MORN) Financials: History & Chart

Morningstar, Inc.(MORN)

Financial - Data & Stock Exchanges · Chicago, IL

$196.36+7.20 (+3.81%)

Delayed quote: Oct 6, 2026, 11:45 AM EDT

About Morningstar, Inc.

Morningstar, Inc. operates as a leading global provider of independent investment research and insights, catering to clients across North America, Europe, Australia, and Asia. The firm delivers a comprehensive range of services, including sophisticated web-based analytical tools, extensive investment data, and specialized research focusing on fundamental equity, manager selection, and private capital markets. Additionally, Morningstar offers credit and fund ratings, ESG (environmental, social, and governance) ratings, and index solutions. Its product suite also encompasses various investment offerings, such as managed portfolios, data on both publicly traded and private companies, fixed income securities, and real-time global market information. These services are designed to serve a diverse client base, including financial advisors, asset management companies, retirement plan administrators and sponsors, alongside individual and institutional investors. Among its key offerings are: Morningstar Data: A vast repository of investment intelligence, encompassing equity fundamentals, managed investments, ESG factors, and market data. Morningstar Direct: An advanced platform built for in-depth investment analysis. Morningstar Managed Portfolios: A model portfolio service tailored for independent financial advisors, also providing asset allocation strategies for asset managers, broker/dealers, and insurance providers. Morningstar Advisor Workstation: A web-based platform enabling research, financial planning, and the generation of proposals. Morningstar.com: The company's dedicated online portal for individual investors. Furthermore, Morningstar provides Morningstar Enterprise Components and Morningstar Credit Ratings, which offer issuance and surveillance capabilities for structured finance products, corporate credit evaluations, and operational risk assessments. It also creates Morningstar Indexes for developing specialized investment products and offers workplace solutions, including retirement accounts, fiduciary services, allocation funds, and custom models. Through its PitchBook Platform, the company provides a robust research and analysis workstation for investment and research professionals, supplemented by a mobile application, an Excel plug-in, data feeds, and various data solutions. Morningstar, Inc. was founded in 1984 and has its corporate headquarters situated in Chicago, Illinois.

Chicago, IL

10,973 employees

www.morningstar.com

Financial Services / Financial - Data & Stock Exchanges

Sector: Financial Services
Industry: Financial - Data & Stock Exchanges
CEO: Kunal Kapoor

View full financials

Financials

SEC Filings

Quarterly Income Statement (USD)

Swipe horizontally to review earlier periods. The line-item column stays pinned.

Quarterly Report	TTM	Quarter ended Jun 2026	Quarter ended Mar 2026	Quarter ended Dec 2025	Quarter ended Sep 2025	Quarter ended Jun 2025	Quarter ended Mar 2025	Quarter ended Dec 2024	Quarter ended Sep 2024
Revenue	2.57B	663.20M	644.80M	641.10M	617.40M	605.10M	581.90M	591.00M	569.40M
Cost of Goods Sold	969.10M	239.30M	238.90M	249.20M	241.70M	230.60M	231.40M	232.20M	222.70M
Gross Profit	1.60B	423.90M	405.90M	391.90M	375.70M	374.50M	350.50M	358.80M	346.70M
Gross Profit Margin	62.2%	63.9%	62.9%	61.1%	60.9%	61.9%	60.2%	60.7%	60.9%
Total Operating Expenses	993.50M	263.30M	250.00M	232.30M	247.90M	249.40M	236.40M	190.60M	231.20M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	826.00M	216.60M	199.20M	208.80M	201.40M	201.70M	189.10M	206.20M	185.50M
Operating Income (EBIT)	603.90M	160.60M	155.90M	159.60M	127.80M	125.10M	114.10M	168.20M	115.50M
Operating Margin	23.5%	24.2%	24.2%	24.9%	20.7%	20.7%	19.6%	28.5%	20.3%
Income Before Tax (EBT)	563.20M	147.00M	141.70M	151.50M	123.00M	115.30M	105.90M	150.80M	149.30M
Interest Income	10.40M	3.50M	1.90M	2.60M	2.40M	2.90M	3.50M	3.70M	3.20M
Interest Expense	53.50M	17.10M	15.60M	11.40M	9.40M	10.30M	8.90M	10.70M	12.10M
Other Income/Expense	-40.70M	-13.60M	-14.20M	-8.10M	-4.80M	-9.80M	-8.20M	-17.40M	33.80M
Net Income	421.60M	107.80M	107.10M	115.10M	91.60M	89.00M	78.50M	116.90M	119.70M
Income Tax Expense	140.70M	38.30M	34.60M	36.40M	31.40M	26.30M	27.40M	33.90M	29.60M
Net Profit Margin	16.4%	16.3%	16.6%	18.0%	14.8%	14.7%	13.5%	19.8%	21.0%
EBITDA	803.20M	214.10M	207.60M	206.70M	174.80M	173.60M	161.40M	216.60M	161.20M
EBITDA Margin	31.3%	32.3%	32.2%	32.2%	28.3%	28.7%	27.7%	36.6%	28.3%
Depreciation & Amortization	199.30M	53.50M	51.70M	47.10M	47.00M	48.50M	47.30M	48.40M	45.70M
EPS Basic	10.61	2.85	2.74	2.84	2.18	2.11	1.83	2.72	2.79
EPS Diluted	10.56	2.83	2.73	2.83	2.17	2.09	1.82	2.71	2.77
Weighted Average Basic Shares	37.80M	37.80M	39.10M	40.50M	42.40M	42.50M	42.80M	42.90M	42.90M
Weighted Average Diluted Shares	38.10M	38.10M	39.30M	40.70M	42.60M	42.80M	43.10M	43.10M	43.20M

Annual Income Statement (USD)

Swipe horizontally to review earlier years. The line-item column stays pinned.

Annual Report	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018
Revenue	2.45B	2.28B	2.04B	1.87B	1.70B	1.39B	1.18B	1.02B
Cost of Goods Sold	952.90M	895.70M	843.50M	779.30M	698.40M	556.40M	483.10M	411.10M
Gross Profit	1.49B	1.38B	1.20B	1.09B	1.00B	833.10M	695.90M	608.80M
Gross Profit Margin	61.0%	60.6%	58.6%	58.3%	58.9%	60.0%	59.0%	59.7%
Total Operating Expenses	966.00M	894.60M	964.50M	923.50M	743.90M	617.90M	506.30M	393.00M
Research & Development	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Selling, General & Administrative	801.00M	768.20M	779.60M	756.90M	593.20M	478.40M	388.60M	296.30M
Operating Income (EBIT)	526.60M	484.80M	230.60M	167.80M	257.00M	215.20M	189.60M	215.80M
Operating Margin	21.5%	21.3%	11.3%	9.0%	15.1%	15.5%	16.1%	21.2%
Income Before Tax (EBT)	495.70M	473.90M	174.10M	127.00M	255.90M	283.30M	197.60M	230.80M
Interest Income	11.40M	12.20M	9.00M	1.70M	1.70M	1.60M	2.40M	2.30M
Interest Expense	40.00M	49.90M	51.70M	28.40M	8.70M	11.10M	8.70M	1.80M
Other Income/Expense	-30.90M	-10.90M	-56.50M	-40.80M	-1.10M	68.10M	8.00M	15.00M
Net Income	374.20M	369.90M	141.10M	70.50M	193.30M	223.60M	152.00M	183.00M
Income Tax Expense	121.50M	104.00M	33.00M	56.50M	62.60M	59.70M	45.60M	47.80M
Net Profit Margin	15.3%	16.3%	6.9%	3.8%	11.4%	16.1%	12.9%	17.9%
EBITDA	716.50M	675.20M	415.50M	334.40M	407.70M	354.70M	307.30M	312.50M
EBITDA Margin	29.3%	29.7%	20.4%	17.9%	24.0%	25.5%	26.1%	30.6%
Depreciation & Amortization	189.90M	190.40M	184.90M	166.60M	150.70M	139.50M	117.70M	96.70M
EPS Basic	8.93	8.64	3.31	1.65	4.50	5.22	3.56	4.30
EPS Diluted	8.87	8.58	3.29	1.64	4.45	5.18	3.52	4.26
Weighted Average Basic Shares	41.90M	42.80M	42.60M	42.60M	43.00M	42.90M	42.70M	42.60M
Weighted Average Diluted Shares	42.20M	43.10M	42.90M	42.90M	43.40M	43.20M	43.20M	43.00M

Values are displayed in USD. Negative numbers shown in red.

Values are displayed in USD. Negative numbers are shown in red.