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morningstar inc - MORN

MORN

Close Chg Chg %
247.17 -3.02 -1.22%

Closed Market

244.15

-3.02 (1.22%)

Volume: 263.71K

Last Updated:

Nov 6, 2026, 4:00 PM EDT

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Company Overview: morningstar inc - MORN

MORN Key Data

Open

$241.92

 Day Range

241.04 - 245.59

52 Week Range

141.49 - 248.88

 Market Cap

$9.06B

Shares Outstanding

37.10M

 Public Float

19.34M

Beta

0.90

 Rev. Per Employee

N/A

P/E Ratio

21.35

 EPS

$11.52

Yield

80.92%

 Dividend

$0.50

EX-DIVIDEND DATE

Oct 2, 2026

 SHORT INTEREST

N/A

AVERAGE VOLUME

269.74K

  

MORN Performance

1 Week
 
 7.94%
 
1 Month
 
 19.42%
 
3 Months
 
 21.67%
 
1 Year
 
 13.30%
 
5 Years
 
 -21.95%
 

MORN Analyst Ratings

  • Sell
  • Under
  • Hold
  • Over
  • Buy
Number of Ratings 3
Full Ratings ➔

About morningstar inc - MORN

Morningstar, Inc. engages in the provision of investment research. It offers Morningstar data, direct, investment management, advisor workstation, workplace solutions, pitchbook data, enterprise components, research, credit ratings and indexes. It operates through the following segments: Morningstar Direct Platform, PitchBook, Morningstar Credit, Morningstar Wealth, and Morningstar Retirement. The Morningstar Direct Platform segment provides investors comprehensive data, research and insights, and investment analysis to empower investment decision-making. It includes product areas such as Morningstar Data, Morningstar Direct, and Morningstar Advisor Workstation. The PitchBook segment provides investors access to data, proprietary research, analytics, and AI-enabled software across private capital markets, including venture capital, private equity, private credit, bank loans, and M&A. The platform offers access to Morningstar’s public-equity data and research. The Morningstar Credit segment provides investors with credit ratings, research, data, and credit analytics solutions. Morningstar Credit includes the Morningstar DBRS product area and the Morningstar Credit data and credit analytics product areas. The Morningstar Wealth segment provides investment products, investor tools, and an advisor platform powered by research and data. Morningstar Wealth serves financial advisors through model portfolios, separately managed accounts, and an advisor platform powered by research and data, and individuals through Morningstar Investor. The Morningstar Retirement segment offers products designed to help individuals reach their retirement goals. The company was founded by Joseph D. Mansueto on May 16, 1984, and is headquartered in Chicago, IL.

MORN At a Glance

Morningstar, Inc.
22 West Washington Street
Chicago, Illinois 60602
Phone 1-312-696-6000 Revenue 2.45B
Industry Financial Publishing/Services Net Income 374.20M
Sector Commercial Services 2025 Sales Growth 7.49%
Fiscal Year-end 12 / 2026 Employees 10,973
View SEC Filings

MORN Valuation

P/E Current 21.354
P/E Ratio (with extraordinary items) N/A
P/E Ratio (without extraordinary items) 24.507
Price to Sales Ratio 3.75
Price to Book Ratio 7.068
Price to Cash Flow Ratio 15.55
Enterprise Value to EBITDA 13.846
Enterprise Value to Sales 4.049
Total Debt to Enterprise Value 0.127

MORN Efficiency

Revenue/Employee 222,865.215
Income Per Employee 34,101.886
Receivables Turnover 6.015
Total Asset Turnover 0.685

MORN Liquidity

Current Ratio 0.952
Quick Ratio 0.952
Cash Ratio 0.502

MORN Profitability

Gross Margin 53.269
Operating Margin 21.48
Pretax Margin 20.27
Net Margin 15.302
Return on Assets 10.483
Return on Equity 26.347
Return on Total Capital 15.07
Return on Invested Capital 15.185

MORN Capital Structure

Total Debt to Total Equity 103.208
Total Debt to Total Capital 50.789
Total Debt to Total Assets 35.126
Long-Term Debt to Equity 99.787
Long-Term Debt to Total Capital 49.106
  • Income Statement
  • Balance Sheet
  • Cash Flow Statement

Annual Financials for Morningstar Inc - MORN

Collapse All in section
All values USD millions. 2022 2023 2024 2025 5-year trend
Sales/Revenue
1.87B 2.04B 2.28B 2.45B
Sales Growth
+10.08% +8.98% +11.60% +7.49%
Cost of Goods Sold (COGS) incl D&A
945.90M 1.03B 1.09B 1.14B
COGS excluding D&A
- - - -
-
Depreciation & Amortization Expense
166.60M 184.90M 190.40M 189.90M
Depreciation
99.90M 114.40M 125.90M 130.10M
Amortization of Intangibles
66.70M 70.50M 64.50M 59.80M
COGS Growth
+11.40% +8.72% +5.61% +5.22%
Gross Income
924.70M 1.01B 1.19B 1.30B
Gross Income Growth
+8.76% +9.25% +17.70% +9.56%
Gross Profit Margin
+49.43% +49.55% +52.26% +53.27%
2022 2023 2024 2025 5-year trend
SG&A Expense
692.50M 757.30M 759.70M 779.60M
Research & Development
- - - -
-
Other SG&A
692.50M 757.30M 759.70M 779.60M
SGA Growth
+26.18% +9.36% +0.32% +2.62%
Other Operating Expense
- - - (2.20M)
-
Unusual Expense
64.40M 22.30M 8.50M 21.40M
EBIT after Unusual Expense
167.80M 230.60M 420.80M 503.90M
Non Operating Income/Expense
(10.70M) 4.20M 103.00M 31.80M
Non-Operating Interest Income
1.70M 9.00M 12.20M 11.40M
Equity in Earnings of Affiliates
(3.60M) (19.20M) (17.40M) (3.30M)
Interest Expense
30.10M 60.70M 49.90M 40.00M
Interest Expense Growth
+189.42% +101.66% -17.79% -19.84%
Gross Interest Expense
30.10M 60.70M 49.90M 40.00M
Interest Capitalized
- - - -
-
Pretax Income
127.00M 174.10M 473.90M 495.70M
Pretax Income Growth
-50.37% +37.09% +172.20% +4.60%
Pretax Margin
+6.79% +8.54% +20.83% +20.27%
Income Tax
56.50M 33.00M 104.00M 121.50M
Income Tax - Current - Domestic
64.00M 41.10M 104.30M 118.40M
Income Tax - Current - Foreign
30.10M 24.30M 34.30M 45.40M
Income Tax - Deferred - Domestic
(27.60M) (19.80M) (24.10M) (35.40M)
Income Tax - Deferred - Foreign
(10.00M) (12.60M) (10.50M) (6.90M)
Income Tax Credits
- - - -
-
Equity in Earnings of Affiliates
(3.60M) (19.20M) (17.40M) (3.30M)
Other After Tax Income (Expense)
- - - -
-
Consolidated Net Income
70.50M 141.10M 369.90M 374.20M
Minority Interest Expense
- - - -
-
Net Income
70.50M 141.10M 369.90M 374.20M
Net Income Growth
-63.53% +100.14% +162.15% +1.16%
Net Margin Growth
+3.77% +6.92% +16.26% +15.30%
Extraordinaries & Discontinued Operations
- - - -
-
Discontinued Operations
- - - -
-
Net Income After Extraordinaries
70.50M 141.10M 369.90M 374.20M
Preferred Dividends
- - - -
-
Net Income Available to Common
70.50M 141.10M 369.90M 374.20M
EPS (Basic)
1.6549 3.3122 8.6425 8.9308
EPS (Basic) Growth
-63.19% +100.15% +160.93% +3.34%
Basic Shares Outstanding
42.60M 42.60M 42.80M 41.90M
EPS (Diluted)
1.6434 3.289 8.5824 8.8673
EPS (Diluted) Growth
-63.10% +100.13% +160.94% +3.32%
Diluted Shares Outstanding
42.90M 42.90M 43.10M 42.20M
EBITDA
398.80M 437.80M 619.70M 715.20M
EBITDA Growth
-11.79% +9.78% +41.55% +15.41%
EBITDA Margin
+21.32% +21.48% +27.24% +29.25%

Snapshot

Average Recommendation OVERWEIGHT Average Target Price 246.00
Number of Ratings 3 Current Quarters Estimate 3.363
FY Report Date 12 / 2026 Current Year's Estimate 13.121
Last Quarter’s Earnings 3.48 Median PE on CY Estimate N/A
Year Ago Earnings 9.86 Next Fiscal Year Estimate 14.956
Median PE on Next FY Estimate N/A

Earnings Per Share

This Quarter Next Quarter This Fiscal Next Fiscal
# of Estimates 2 1 3 3
Mean Estimate 3.36 3.54 13.12 14.96
High Estimates 3.46 3.54 13.21 15.55
Low Estimate 3.27 3.54 13.02 14.52
Coefficient of Variance 4.09 N/A 0.74 3.57

Analysts Recommendations

Current 1 Month Ago 3 Months Ago
BUY 2 2 2
OVERWEIGHT 0 0 0
HOLD 1 1 1
UNDERWEIGHT 0 0 0
SELL 0 0 0
MEAN Overweight Overweight Overweight

Insider Actions for Morningstar Inc - MORN

Date Name Shares Transaction Value
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,608,609 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $239.61 per share 2,062,708,802.49
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,594,429 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $244.51 per share 2,101,423,834.79
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,594,514 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $243.67 per share 2,094,225,226.38
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,595,309 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $242.76 per share 2,086,597,212.84
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,596,458 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $241.5 per share 2,076,044,607.00
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,598,744 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $240.76 per share 2,070,233,605.44
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,601,679 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $242.26 per share 2,083,842,754.54
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,601,731 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $241.11 per share 2,073,963,361.41
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,601,809 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $239.96 per share 2,064,090,087.64
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,604,193 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $239.39 per share 2,059,757,762.27
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,608,583 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $240.14 per share 2,067,265,121.62
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,615,489 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $227.57 per share 1,960,626,831.73
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,608,912 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $238.58 per share 2,053,914,224.96
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,609,185 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $237.28 per share 2,042,787,416.80
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,609,289 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $235.63 per share 2,028,606,767.07
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,610,893 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $234.19 per share 2,016,585,031.67
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,612,205 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $232.89 per share 2,005,696,422.45
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,612,725 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $231.89 per share 1,997,204,800.25
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,613,523 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $230.42 per share 1,984,727,969.66
Nov 5, 2026 Joseph D. Mansueto Executive Chairman; Director 8,614,493 Open market or private sale of non-derivative or derivative security Non-derivative transaction at $229.04 per share 1,973,063,476.72

Morningstar Inc in the News