Morningstar, Inc. (MORN)
NASDAQ: MORN · Real-Time Price · USD
183.60
+10.99 (6.37%)
Jul 27, 2026, 2:38 PM EDT - Market open
Morningstar Balance Sheet
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Assets
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 & Equivalents | 492.8 | 474.5 | 502.7 | 337.9 | 376.6 | 483.8 |
Short-Term Investments | 39.4 | 54.2 | 48.3 | 51.1 | 38 | 62.3 |
Cash & Short-Term Investments | 532.2 | 528.7 | 551 | 389 | 414.6 | 546.1 |
Cash Growth | -4.83% | -4.05% | 41.64% | -6.17% | -24.08% | 17.64% |
Accounts Receivable | 402.6 | 390.4 | 358.1 | 343.9 | 307.9 | 268.9 |
Other Receivables | 15.4 | 16.2 | 12.4 | 0.6 | - | 8.9 |
Total Trade Receivables | 418 | 406.6 | 370.5 | 344.5 | 307.9 | 277.8 |
Other Current Assets | 113.1 | 102.7 | 92.6 | 82.2 | 88.3 | 63.7 |
Total Current Assets | 1,063 | 1,038 | 1,014 | 815.7 | 810.8 | 887.6 |
Net Property, Plant & Equipment | 400.8 | 390.9 | 400.1 | 371.6 | 391 | 321 |
Other Intangible Assets | 591.4 | 379.3 | 408.8 | 484.4 | 548.6 | 328.2 |
Goodwill | 1,747 | 1,611 | 1,562 | 1,579 | 1,572 | 1,207 |
Long-Term Investments | 50.3 | 50.3 | 85.3 | 100.2 | 96 | 63.3 |
Other Long-Term Assets | 133.3 | 120.9 | 78.6 | 52.7 | 56.7 | 55.6 |
Total Assets | 3,986 | 3,590 | 3,549 | 3,403 | 3,475 | 2,863 |
Liabilities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Accounts Payable | 104.6 | 97.9 | 87.3 | 78.4 | 76.2 | 76.5 |
Accrued Expenses | 144.9 | 294.2 | 272.2 | 214.4 | 220.1 | 273.7 |
Current Portion of Long-Term Debt | 18.2 | - | - | 32.1 | 32.1 | - |
Current Portion of Leases | 42.7 | 41.8 | 35.1 | 36.4 | 37.3 | 36.4 |
Unearned Revenue | 669.3 | 586.1 | 540.8 | 517.7 | 455.6 | 377.4 |
Other Current Liabilities | 51 | 33.3 | 31.9 | 1.8 | 61.2 | 19.5 |
Total Current Liabilities | 1,031 | 1,053 | 967.3 | 880.8 | 882.5 | 783.5 |
Long-Term Debt | 1,695 | 1,073 | 698.6 | 940.3 | 1,078 | 359.4 |
Long-Term Leases | 151 | 146.7 | 170.3 | 151.4 | 176.7 | 135.7 |
Other Long-Term Liabilities | 91.3 | 95.7 | 94.1 | 103.1 | 131 | 168.2 |
Total Long-Term Liabilities | 1,937 | 1,315 | 963 | 1,195 | 1,385 | 663.3 |
Total Liabilities | 2,968 | 2,368 | 1,930 | 2,076 | 2,268 | 1,447 |
Shareholders' Equity
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Treasury Stock | -2,089 | -1,786 | -993.9 | -985.5 | -986.7 | -764.3 |
Additional Paid-in Capital | 892.5 | 869.5 | 822.7 | 789 | 757.8 | 689 |
Accumulated Other Comprehensive Income | -158.8 | -136.2 | -238.8 | -173 | -198 | -70.6 |
Retained Earnings | 2,294 | 2,206 | 1,909 | 1,611 | 1,535 | 1,527 |
Total Common Shareholders' Equity | 939.3 | 1,154 | 1,499 | 1,328 | 1,207 | 1,416 |
Shareholders' Equity | 1,019 | 1,222 | 1,619 | 1,328 | 1,207 | 1,416 |
Total Liabilities & Equity | 3,986 | 3,590 | 3,549 | 3,403 | 3,475 | 2,863 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 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 |
Total Debt | 1,907 | 1,261 | 904 | 1,160 | 1,324 | 531.5 |
Net Cash (Debt) | -1,374 | -732.4 | -353 | -771.2 | -909 | 14.6 |
Net Cash Growth | - | - | - | - | - | - |
Net Cash Per Share | -33.36 | -17.36 | -8.19 | -17.98 | -21.19 | 0.34 |
Book Value | 939.3 | 1,154 | 1,499 | 1,328 | 1,207 | 1,416 |
Book Value Per Share | 22.80 | 27.34 | 34.78 | 30.95 | 28.14 | 32.62 |
Tangible Book Value | -1,399 | -836.3 | -471.6 | -735.4 | -913.2 | -119.3 |
Tangible Book Value Per Share | -33.96 | -19.82 | -10.94 | -17.14 | -21.29 | -2.75 |