Morningstar, Inc. (MORN)
NASDAQ: MORN · Real-Time Price · USD
172.48
-1.42 (-0.82%)
Jul 17, 2026, 4:00 PM EDT - Market closed
Morningstar Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | Dec '25 Dec 31, 2025 | Sep '25 Sep 30, 2025 | Jun '25 Jun 30, 2025 | Mar '25 Mar 31, 2025 | Dec '24 Dec 31, 2024 | Sep '24 Sep 30, 2024 | Jun '24 Jun 30, 2024 | Mar '24 Mar 31, 2024 | Dec '23 Dec 31, 2023 | Sep '23 Sep 30, 2023 | Jun '23 Jun 30, 2023 | Mar '23 Mar 31, 2023 | Dec '22 Dec 31, 2022 | Sep '22 Sep 30, 2022 | Jun '22 Jun 30, 2022 | Mar '22 Mar 31, 2022 | Dec '21 Dec 31, 2021 | Sep '21 Sep 30, 2021 | Jun '21 Jun 30, 2021 |
| 644.8 | 641.1 | 617.4 | 605.1 | 581.9 | 591 | 569.4 | 571.9 | 542.8 | 538.7 | 515.5 | 504.7 | 479.7 | 475 | 468.2 | 470.4 | 457 | 462.2 | 428.9 | 415.4 | |
Revenue Growth (YoY) | 10.81% | 8.48% | 8.43% | 5.80% | 7.20% | 9.71% | 10.46% | 13.31% | 13.15% | 13.41% | 10.10% | 7.29% | 4.97% | 2.77% | 9.16% | 13.24% | 16.34% | 21.50% | 20.07% | 26.68% |
Cost of Revenue | 238.9 | 249.2 | 241.7 | 230.6 | 231.4 | 232.2 | 222.7 | 222.7 | 218.1 | 205.4 | 202.9 | 216.4 | 218.8 | 195 | 195.4 | 197.6 | 191.3 | 189.6 | 183.1 | 168.4 |
Gross Profit | 405.9 | 391.9 | 375.7 | 374.5 | 350.5 | 358.8 | 346.7 | 349.2 | 324.7 | 333.3 | 312.6 | 288.3 | 260.9 | 280 | 272.8 | 272.8 | 265.7 | 272.6 | 245.8 | 247 |
Selling, General & Admin | 199.2 | 208.8 | 201.4 | 201.7 | 189.1 | 206.2 | 185.5 | 191.6 | 184.9 | 192.4 | 196 | 199.6 | 191.6 | 199.7 | 206.6 | 178.9 | 171.7 | 159.4 | 139.9 | 162.2 |
Depreciation & Amortization Expenses | 51.7 | 47.1 | 47 | 48.5 | 47.3 | 48.4 | 45.7 | 49.1 | 47.2 | 46.5 | 46.6 | 47 | 44.8 | 44.8 | 44.2 | 40 | 37.6 | 38.4 | 38.1 | 37.6 |
Other Operating Expenses | -0.9 | -0.9 | -0.5 | -0.8 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Operating Expenses | 250 | 255 | 247.9 | 249.4 | 236.4 | 254.6 | 231.2 | 240.7 | 232.1 | 238.9 | 242.6 | 246.6 | 236.4 | 244.5 | 250.8 | 218.9 | 209.3 | 197.8 | 178 | 199.8 |
Operating Income | 155.9 | 159.6 | 127.8 | 125.1 | 114.1 | 168.2 | 115.5 | 108.5 | 92.6 | 94.4 | 70 | 41.7 | 24.5 | 35.5 | 22 | 53.9 | 56.4 | 74.8 | 67.8 | 47.2 |
Interest Income | -0.1 | 0.6 | -0.1 | -1.2 | -2.6 | -12.1 | -2.6 | -1.2 | -1.5 | -2.7 | -1.6 | -1.8 | -1.3 | -0.9 | -1.3 | -1.8 | 0.4 | 0.8 | 1.9 | 1 |
Interest Expense | -13.7 | -8.8 | -7 | -7.4 | -5.4 | -7 | -8.9 | -10.3 | -11.5 | -11.5 | -12.8 | -14.1 | -13.3 | -11.1 | -10.5 | -4.4 | -2.4 | -1.4 | -2.3 | -2.2 |
Other Non-Operating Income (Expense) | -13.7 | 0.1 | 2.3 | -9.8 | -5.4 | 1.7 | 45.3 | -27.7 | 0.3 | 6.9 | 0.2 | -5.9 | -31.5 | 6.2 | -13.8 | -10.2 | 9 | -1.6 | -6.9 | 0.8 |
Total Non-Operating Income (Expense) | -27.5 | -8.7 | -4.7 | -18.4 | -13.4 | -5.3 | 36.4 | -39.2 | -12.7 | -4.1 | -12.6 | -21.8 | -46.1 | -4.9 | -24.3 | -14.6 | 6.6 | -2.2 | -7.3 | -1.4 |
Pretax Income | 141.8 | 150.9 | 123.1 | 116.5 | 108.5 | 162.9 | 151.9 | 89.5 | 87 | 90.3 | 57.4 | 31.7 | 2.1 | 30.6 | -2.3 | 39.3 | 63 | 74.2 | 63.2 | 45.8 |
Provision for Income Taxes | 34.6 | 36.4 | 31.4 | 26.3 | 27.4 | 33.9 | 29.6 | 19.2 | 21.3 | 14.1 | 16.7 | -6.2 | 8.4 | 26.4 | 5.4 | 7.4 | 17.3 | 18.5 | 16.1 | 13.9 |
Net Income | 107.1 | 115.1 | 91.6 | 89 | 78.5 | 116.9 | 119.7 | 69.1 | 64.2 | 73.5 | 39.1 | 36.1 | -7.6 | 3.3 | -9 | 30.1 | 46.1 | 56.5 | 49 | 32.9 |
Net Income to Common | 107.1 | 115.1 | 91.6 | 89 | 78.5 | 116.9 | 119.7 | 69.1 | 64.2 | 73.5 | 39.1 | 36.1 | -7.6 | 3.3 | -9 | 30.1 | 46.1 | 56.5 | 49 | 32.9 |
Net Income Growth | 36.43% | -1.54% | -23.47% | 28.80% | 22.27% | 59.05% | 206.14% | 91.41% | - | 2127.27% | - | 19.93% | - | -94.16% | - | -8.51% | -16.03% | -24.97% | -35.70% | -31.74% |
Shares Outstanding (Basic) | 39 | 41 | 42 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
Shares Outstanding (Diluted) | 39 | 41 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 42 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 43 |
Shares Change (YoY) | -8.82% | -5.57% | -2.08% | -1.39% | 0.23% | 0.23% | 1.89% | 0.70% | 1.18% | 0.70% | -0.70% | -0.23% | -1.85% | -1.61% | -1.61% | -0.92% | - | 0.46% | 0.46% | 0.23% |
EPS (Basic) | 2.74 | 2.84 | 2.18 | 2.11 | 1.83 | 2.72 | 2.79 | 1.61 | 1.50 | 1.72 | 0.95 | 0.85 | -0.18 | 0.08 | -0.21 | 0.71 | 1.07 | 1.31 | 1.14 | 0.77 |
EPS (Diluted) | 2.73 | 2.83 | 2.17 | 2.09 | 1.82 | 2.71 | 2.77 | 1.60 | 1.49 | 1.71 | 0.94 | 0.84 | -0.18 | 0.08 | -0.21 | 0.70 | 1.06 | 1.30 | 1.13 | 0.76 |
EPS Growth | 50.00% | 4.43% | -21.66% | 30.63% | 22.15% | 58.48% | 194.68% | 90.48% | - | 2037.50% | - | 20.00% | - | -93.85% | - | -7.90% | -16.54% | -25.29% | -35.80% | -32.14% |
Free Cash Flow | 53.6 | 161.3 | 160.1 | 62.4 | 58.8 | 112.8 | 155.8 | 120.8 | 59.5 | 107.8 | 101.4 | -5.8 | -6.1 | 67.4 | 68.4 | 37 | -4.5 | 105.7 | 92.4 | 108.5 |
Free Cash Flow Growth | -8.84% | 43.00% | 2.76% | -48.34% | -1.18% | 4.64% | 53.65% | - | - | 59.94% | 48.25% | - | - | -36.23% | -25.97% | -65.90% | - | 14.15% | 30.51% | -1.90% |
Free Cash Flow Per Share | 1.36 | 3.96 | 3.78 | 1.47 | 1.36 | 2.62 | 3.61 | 2.80 | 1.38 | 2.51 | 2.39 | -0.14 | -0.14 | 1.58 | 1.60 | 0.86 | -0.10 | 2.44 | 2.13 | 2.51 |
Dividends Per Share | 0.500 | 0.500 | 0.455 | 0.455 | 0.460 | 0.450 | 0.410 | 0.410 | 0.410 | 0.400 | 0.380 | 0.380 | 0.380 | 0.380 | 0.360 | 0.360 | 0.360 | 0.365 | 0.315 | 0.320 |
Dividend Growth | 8.70% | 11.11% | 10.98% | 10.98% | 12.20% | 12.50% | 7.90% | 7.90% | 7.90% | 5.26% | 5.56% | 5.56% | 5.56% | 4.11% | 14.29% | 12.50% | 12.50% | 14.06% | 5.00% | 6.67% |
Gross Margin | 62.95% | 61.13% | 60.85% | 61.89% | 60.23% | 60.71% | 60.89% | 61.06% | 59.82% | 61.87% | 60.64% | 57.12% | 54.39% | 58.95% | 58.27% | 57.99% | 58.14% | 58.98% | 57.31% | 59.46% |
Operating Margin | 24.18% | 24.89% | 20.70% | 20.67% | 19.61% | 28.46% | 20.28% | 18.97% | 17.06% | 17.52% | 13.58% | 8.26% | 5.11% | 7.47% | 4.70% | 11.46% | 12.34% | 16.18% | 15.81% | 11.36% |
Profit Margin | 16.61% | 17.95% | 14.84% | 14.71% | 13.49% | 19.78% | 21.02% | 12.08% | 11.83% | 13.64% | 7.58% | 7.15% | -1.58% | 0.69% | -1.92% | 6.40% | 10.09% | 12.22% | 11.42% | 7.92% |
FCF Margin | 8.31% | 25.16% | 25.93% | 10.31% | 10.10% | 19.09% | 27.36% | 21.12% | 10.96% | 20.01% | 19.67% | -1.15% | -1.27% | 14.19% | 14.61% | 7.87% | -0.98% | 22.87% | 21.54% | 26.12% |
EBITDA | 207.6 | 206.7 | 174.8 | 173.6 | 161.4 | 216.6 | 161.2 | 157.6 | 139.8 | 140.9 | 116.6 | 88.7 | 69.3 | 80.3 | 66.2 | 93.9 | 94 | 113.2 | 105.9 | 84.8 |
EBITDA Margin | 32.20% | 32.24% | 28.31% | 28.69% | 27.74% | 36.65% | 28.31% | 27.56% | 25.76% | 26.16% | 22.62% | 17.57% | 14.45% | 16.91% | 14.14% | 19.96% | 20.57% | 24.49% | 24.69% | 20.41% |
EBIT | 155.9 | 159.6 | 127.8 | 125.1 | 114.1 | 168.2 | 115.5 | 108.5 | 92.6 | 94.4 | 70 | 41.7 | 24.5 | 35.5 | 22 | 53.9 | 56.4 | 74.8 | 67.8 | 47.2 |
EBIT Margin | 24.18% | 24.89% | 20.70% | 20.67% | 19.61% | 28.46% | 20.28% | 18.97% | 17.06% | 17.52% | 13.58% | 8.26% | 5.11% | 7.47% | 4.70% | 11.46% | 12.34% | 16.18% | 15.81% | 11.36% |
Effective Tax Rate | 24.40% | 24.12% | 25.51% | 22.58% | 25.25% | 20.81% | 19.49% | 21.45% | 24.48% | 15.61% | 29.09% | -19.56% | 400.00% | 86.27% | -234.78% | 18.83% | 27.46% | 24.93% | 25.47% | 30.35% |