Morningstar, Inc. (MORN)
NASDAQ: MORN · Real-Time Price · USD
243.32
-3.85 (-1.56%)
Nov 6, 2026, 10:10 AM EST - Market open
Morningstar Financials Overview
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | 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 |
Revenue Revenue Growth | 2,621 | 2,446 | 2,275 | 2,039 | 1,871 | 1,699 |
Revenue Growth | 9.43% | 7.49% | 11.60% | 8.98% | 10.08% | 22.30% |
Gross Profit Gross Profit Growth | 1,653 | 1,493 | 1,379 | 1,195 | 1,091 | 1,001 |
Operating Income Operating Income Growth | 616.7 | 506.2 | 420.8 | 230.6 | 193.7 | 257 |
Net Income Net Income Growth | 445.5 | 374.2 | 369.9 | 141.1 | 70.5 | 193.3 |
Earnings Per Share EPS Growth | 11.42 | 8.87 | 8.58 | 3.29 | 1.64 | 4.45 |
EPS Growth | 29.83% | 3.38% | 160.79% | 100.61% | -63.15% | -14.09% |
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | 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 |
License-Based License-Based Growth | 1,797 | 1,719 | 1,625 | 1,518 | 1,332 | 1,132 |
Asset-Based Asset-Based Growth | 385.1 | 343 | 333.2 | 279.6 | 269.4 | 264.9 |
Transaction-Based Transaction-Based Growth | 439.2 | 383.3 | 316.8 | 241.5 | 269.5 | 302.7 |
Revenue (Total) Revenue (Total) Growth | 2,621 | 2,446 | 2,275 | 2,039 | 1,871 | 1,699 |
Fiscal Year | Current | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | 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 |
Cash & Investments Cash & Investments Growth | 524.6 | 528.7 | 551 | 389 | 414.6 | 546.1 |
Total Debt Total Debt Growth | 1,859 | 1,261 | 904 | 1,160 | 1,324 | 531.5 |
Net Cash (Debt) Net Cash Growth | -1,335 | -732.4 | -353 | -771.2 | -909 | 14.6 |
Net Cash Growth | - | - | - | - | - | - |
Net Cash Per Share Net Cash Per Share Growth | -34.18 | -17.36 | -8.19 | -17.98 | -21.19 | 0.34 |
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | 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 |
Operating Cash Flow Operating Cash Flow Growth | 641.9 | 589.7 | 591.6 | 316.4 | 297.8 | 449.9 |
Capital Expenditures CapEx Growth | -149.1 | -147.1 | -142.7 | -119.1 | -129.5 | -101.8 |
Free Cash Flow Free Cash Flow Growth | 492.8 | 442.6 | 448.9 | 197.3 | 168.3 | 348.1 |
Free Cash Flow Growth | 25.04% | -1.40% | 127.52% | 17.23% | -51.65% | 13.17% |
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Sep '26 Sep 30, 2026 | 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 |
Gross Margin | 63.07% | 61.03% | 60.63% | 58.62% | 58.34% | 58.90% |
Operating Margin | 23.53% | 20.70% | 18.50% | 11.31% | 10.36% | 15.12% |
Pretax Margin | 22.63% | 20.27% | 20.83% | 8.54% | 6.79% | 15.06% |
Profit Margin | 17.00% | 15.30% | 16.26% | 6.92% | 3.77% | 11.38% |
FCF Margin | 18.80% | 18.10% | 19.73% | 9.68% | 9.00% | 20.48% |
Fiscal Year | Current | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Nov '26 Nov 6, 2026 | 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 |
Dividend Per Share Dividend Per Share Growth | 2.000 | 1.865 | 1.670 | 1.530 | 1.460 | 1.310 |
Dividend Per Share Growth | 9.89% | 11.68% | 9.15% | 4.79% | 11.45% | 7.38% |
Dividend Yield | 0.82% | 0.83% | 0.50% | 0.53% | 0.68% | 0.38% |
Fiscal Year | Current | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Period Ending | Nov '26 Nov 6, 2026 | 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 |
PE Ratio | 21.31 | 23.89 | 39.04 | 86.62 | 130.40 | 76.25 |
Forward PE | 17.17 | 21.33 | 42.45 | 51.08 | 39.01 | 29.04 |
P/FCF Ratio | 18.61 | 20.19 | 32.17 | 61.95 | 54.63 | 42.34 |
PS Ratio | 3.50 | 3.66 | 6.35 | 6.00 | 4.92 | 8.67 |