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Morningstar, Inc. (FRA:MRS)
Germany flag Germany · Delayed Price · Currency is EUR
166.00
-2.00 (-1.19%)
At close: Jan 30, 2026

Revenue Breakdown

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016FY 2015FY 2014FY 2013FY 2012
Period Ending
Sep '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16 Dec '15 Dec '14 Dec '13 Dec '12
License-Based Revenue
1.70B1.63B
Asset-Based Revenue
340.50M333.20M
Transaction-Based Revenue
359.10M316.80M
Revenue (Total)
2.40B2.28B

Revenue Breakdown 3

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016FY 2015FY 2014FY 2013FY 2012
Period Ending
Sep '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16 Dec '15 Dec '14 Dec '13 Dec '12
Morningstar Data and Analytics Revenue
815.50M788.10M
PitchBook Revenue (Post-FY2023 Reporting)
661.70M618.40M
Morningstar Credit Revenue
331.40M291.10M
Morningstar Wealth Revenue
252.70M248.40M
Morningstar Retirement Revenue (Post-FY2023 Reporting)
133.10M127.10M
Corporate and All Other Revenue
201.00M202.00M
Revenue (Total)
2.40B2.28B

Adjusted EBIT

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016FY 2015FY 2014FY 2013FY 2012
Period Ending
Sep '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16 Dec '15 Dec '14 Dec '13 Dec '12
Morningstar Data and Analytics Adjusted Operating Income
362.60M355.40M
PitchBook Adjusted Operating Income (Post-FY2023 Reporting)
206.70M186.40M
Morningstar Credit Adjusted Operating Income
100.20M75.60M
Morningstar Wealth Adjusted Operating Income
4.50M-9.30M
Morningstar Retirement Adjusted Operating Income (Post-FY2023 Reporting)
64.10M65.60M
Corporate and All Other Adjusted Operating Income
-187.00M-179.90M
Operating Income (Other)
-15.90M-9.00M
Operating Income (Total)
535.20M484.80M

Key Performance Indicators

Millions USD. Fiscal year is Jan - Dec.
Fiscal Year
TTMFY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016FY 2015FY 2014FY 2013FY 2012
Period Ending
Sep '25 Dec '24 Dec '23 Dec '22 Dec '21 Dec '20 Dec '19 Dec '18 Dec '17 Dec '16 Dec '15 Dec '14 Dec '13 Dec '12
Managed Accounts Assets Under Management / Advisement
184.10B160.40B
Fiduciary Services Assets Under Management / Advisement
68.20B65.80B
Custom Models / CIT Assets Under Management / Advisement
45.50B49.70B
Total Workplace Solutions Assets Under Management / Advisement
297.80B275.90B
Morningstar Managed Portfolios Assets Under Management / Advisement
50.40B43.80B
Institutional Asset Management Assets Under Management / Advisement
6.00B7.00B
Asset Allocation Services Assets Under Management / Advisement
14.40B11.50B
Total Investment Management Assets Under Management / Advisement
70.80B62.30B
Asset Value Linked to Morningstar Indexes
237.50B210.90B
Average Assets Under Management / Advisement
-312.40B
PitchBook Platform Licenses
-125.49K
Morningstar Direct Licenses
-18.76K
Morningstar Investor Memberships
-97.31K
Revenue Renewal Rates for License-Based Products and Services
-100.00%
Updated Sep 30, 2025. Data Source: Fiscal.ai.