Morningstar, Inc. (FRA:MRS)
Germany · Delayed Price · Currency is EUR 135.00
-1.00 (-0.74%)
Last updated: Feb 20, 2026, 3:25 PM CET
Revenue Breakdown
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | Dec '19 Dec 31, 2019 | Dec '18 Dec 31, 2018 | Dec '17 Dec 31, 2017 | Dec '16 Dec 31, 2016 | Dec '15 Dec 31, 2015 | Dec '14 Dec 31, 2014 | Dec '13 Dec 31, 2013 | Dec '12 Dec 31, 2012 |
License-Based Revenue | 1.72B | 1.63B | ||||||||||||
License-Based Revenue Growth | 5.79% | 7.09% | ||||||||||||
Asset-Based Revenue | 343.00M | 333.20M | ||||||||||||
Asset-Based Revenue Growth | 2.94% | 19.17% | ||||||||||||
Transaction-Based Revenue | 383.30M | 316.80M | ||||||||||||
Transaction-Based Revenue Growth | 20.99% | 31.18% | ||||||||||||
Revenue (Total) | 2.45B | 2.28B | ||||||||||||
Revenue (Total) Growth | 7.49% | 11.60% |
Revenue Breakdown 3
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | Dec '19 Dec 31, 2019 | Dec '18 Dec 31, 2018 | Dec '17 Dec 31, 2017 | Dec '16 Dec 31, 2016 | Dec '15 Dec 31, 2015 | Dec '14 Dec 31, 2014 | Dec '13 Dec 31, 2013 | Dec '12 Dec 31, 2012 |
Morningstar Data and Analytics Revenue | 830.60M | 788.10M | ||||||||||||
Morningstar Data and Analytics Revenue Growth | 5.39% | 5.47% | ||||||||||||
PitchBook Revenue (Post-FY2023 Reporting) | 671.80M | 618.40M | ||||||||||||
PitchBook Revenue (Post-FY2023 Reporting) Growth | 8.63% | 12.05% | ||||||||||||
Morningstar Credit Revenue | 354.40M | 291.10M | ||||||||||||
Morningstar Credit Revenue Growth | 21.75% | 35.14% | ||||||||||||
Morningstar Wealth Revenue | 251.40M | 248.40M | ||||||||||||
Morningstar Wealth Revenue Growth | 1.21% | 8.05% | ||||||||||||
Morningstar Retirement Revenue (Post-FY2023 Reporting) | 137.60M | 127.10M | ||||||||||||
Morningstar Retirement Revenue (Post-FY2023 Reporting) Growth | 8.26% | 15.02% | ||||||||||||
Corporate and All Other Revenue | 199.70M | 202.00M | ||||||||||||
Corporate and All Other Revenue Growth | -1.14% | 9.96% | ||||||||||||
Revenue (Total) | 2.45B | 2.28B | ||||||||||||
Revenue (Total) Growth | 7.49% | 11.60% |
Revenue by Geography
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | Dec '19 Dec 31, 2019 | Dec '18 Dec 31, 2018 | Dec '17 Dec 31, 2017 | Dec '16 Dec 31, 2016 | Dec '15 Dec 31, 2015 | Dec '14 Dec 31, 2014 | Dec '13 Dec 31, 2013 | Dec '12 Dec 31, 2012 |
United States Revenue | 1.75B | 1.64B | ||||||||||||
United States Revenue Growth | 7.08% | 11.44% | ||||||||||||
Asia Revenue | 48.00M | 49.60M | ||||||||||||
Asia Revenue Growth | -3.23% | 0.61% | ||||||||||||
Australia Revenue | 65.30M | 62.40M | ||||||||||||
Australia Revenue Growth | 4.65% | 6.85% | ||||||||||||
Canada Revenue | 154.90M | 140.40M | ||||||||||||
Canada Revenue Growth | 10.33% | 20.72% | ||||||||||||
Continental Europe Revenue | 219.60M | 203.80M | ||||||||||||
Continental Europe Revenue Growth | 7.75% | 9.87% | ||||||||||||
United Kingdom Revenue | 189.80M | 167.40M | ||||||||||||
United Kingdom Revenue Growth | 13.38% | 13.11% | ||||||||||||
Other Regional Revenue | 13.00M | 12.70M | ||||||||||||
Other Regional Revenue Growth | 2.36% | 20.95% | ||||||||||||
Total International Revenue | 690.60M | 636.30M | ||||||||||||
Total International Revenue Growth | 8.53% | 12.03% | ||||||||||||
Revenue (Total) | 2.45B | 2.28B | ||||||||||||
Revenue (Total) Growth | 7.49% | 11.60% |
Adjusted EBIT
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | Dec '19 Dec 31, 2019 | Dec '18 Dec 31, 2018 | Dec '17 Dec 31, 2017 | Dec '16 Dec 31, 2016 | Dec '15 Dec 31, 2015 | Dec '14 Dec 31, 2014 | Dec '13 Dec 31, 2013 | Dec '12 Dec 31, 2012 |
Morningstar Data and Analytics Adjusted Operating Income | 369.40M | 355.40M | ||||||||||||
Morningstar Data and Analytics Adjusted Operating Income Growth | 3.94% | 4.59% | ||||||||||||
PitchBook Adjusted Operating Income (Post-FY2023 Reporting) | 210.10M | 186.40M | ||||||||||||
PitchBook Adjusted Operating Income (Post-FY2023 Reporting) Growth | 12.72% | 25.86% | ||||||||||||
Morningstar Credit Adjusted Operating Income | 114.80M | 75.60M | ||||||||||||
Morningstar Credit Adjusted Operating Income Growth | 51.85% | 248.39% | ||||||||||||
Morningstar Wealth Adjusted Operating Income | 9.60M | -9.30M | ||||||||||||
Morningstar Retirement Adjusted Operating Income (Post-FY2023 Reporting) | 67.70M | 65.60M | ||||||||||||
Morningstar Retirement Adjusted Operating Income (Post-FY2023 Reporting) Growth | 3.20% | 21.26% | ||||||||||||
Corporate and All Other Adjusted Operating Income | -188.70M | -179.90M | ||||||||||||
Operating Income (Other) | -56.30M | -9.00M | ||||||||||||
Operating Income (Total) | 526.60M | 484.80M | ||||||||||||
Operating Income (Total) Growth | 8.62% | 110.23% |
Key Performance Indicators
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | Dec '19 Dec 31, 2019 | Dec '18 Dec 31, 2018 | Dec '17 Dec 31, 2017 | Dec '16 Dec 31, 2016 | Dec '15 Dec 31, 2015 | Dec '14 Dec 31, 2014 | Dec '13 Dec 31, 2013 | Dec '12 Dec 31, 2012 |
Managed Accounts Assets Under Management / Advisement | 190.40B | 160.40B | ||||||||||||
Managed Accounts Assets Under Management / Advisement Growth | 18.70% | 18.99% | ||||||||||||
Fiduciary Services Assets Under Management / Advisement | 72.80B | 65.80B | ||||||||||||
Fiduciary Services Assets Under Management / Advisement Growth | 10.64% | 17.08% | ||||||||||||
Custom Models / CIT Assets Under Management / Advisement | 42.00B | 49.70B | ||||||||||||
Custom Models / CIT Assets Under Management / Advisement Growth | -15.49% | 26.14% | ||||||||||||
Total Workplace Solutions Assets Under Management / Advisement | 305.20B | 275.90B | ||||||||||||
Total Workplace Solutions Assets Under Management / Advisement Growth | 10.62% | 19.75% | ||||||||||||
Morningstar Managed Portfolios Assets Under Management / Advisement | 51.80B | 43.80B | ||||||||||||
Morningstar Managed Portfolios Assets Under Management / Advisement Growth | 18.27% | 13.18% | ||||||||||||
Institutional Asset Management Assets Under Management / Advisement | 5.90B | 7.00B | ||||||||||||
Institutional Asset Management Assets Under Management / Advisement Growth | -15.71% | -9.09% | ||||||||||||
Asset Allocation Services Assets Under Management / Advisement | 15.10B | 11.50B | ||||||||||||
Asset Allocation Services Assets Under Management / Advisement Growth | 31.30% | 26.37% | ||||||||||||
Total Investment Management Assets Under Management / Advisement | 72.80B | 62.30B | ||||||||||||
Total Investment Management Assets Under Management / Advisement Growth | 16.85% | 12.25% | ||||||||||||
Asset Value Linked to Morningstar Indexes | 252.30B | 210.90B | ||||||||||||
Asset Value Linked to Morningstar Indexes Growth | 19.63% | 19.36% | ||||||||||||
Average Assets Under Management / Advisement | 355.70B | 312.40B | ||||||||||||
Average Assets Under Management / Advisement Growth | 13.86% | 19.51% | ||||||||||||
PitchBook Platform Licenses | 113.45K | 113.45K | ||||||||||||
PitchBook Platform Licenses Growth | 0.00% | 13.64% | ||||||||||||
Morningstar Direct Licenses | 18.78K | 18.76K | ||||||||||||
Morningstar Direct Licenses Growth | 0.10% | 1.07% | ||||||||||||
Morningstar Investor Memberships | 96.79K | 97.31K | ||||||||||||
Morningstar Investor Memberships Growth | -0.53% | -2.80% | ||||||||||||
Revenue Renewal Rates for License-Based Products and Services | 101.00% | 100.00% |
Updated Dec 31, 2025. Data Source: Fiscal.ai.