Morningstar, Inc. (MORN)
NASDAQ: MORN · Real-Time Price · USD
242.55
-4.62 (-1.87%)
Nov 6, 2026, 11:17 AM EST - 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 | 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 & Equivalents | 496.7 | 474.5 | 502.7 | 337.9 | 376.6 | 483.8 |
Short-Term Investments | 27.9 | 54.2 | 48.3 | 51.1 | 38 | 62.3 |
Cash & Short-Term Investments | 524.6 | 528.7 | 551 | 389 | 414.6 | 546.1 |
Cash Growth | 1.96% | -4.05% | 41.64% | -6.17% | -24.08% | 17.64% |
Accounts Receivable | 427.7 | 390.4 | 358.1 | 343.9 | 307.9 | 268.9 |
Other Receivables | 8.1 | 16.2 | 12.4 | 0.6 | - | 8.9 |
Receivables | 435.8 | 406.6 | 370.5 | 344.5 | 307.9 | 277.8 |
Prepaid Expenses | 51.7 | 42.5 | 42.1 | 34.9 | 36.7 | 30.6 |
Other Current Assets | 51.9 | 60.2 | 50.5 | 47.3 | 51.6 | 33.1 |
Total Current Assets | 1,064 | 1,038 | 1,014 | 815.7 | 810.8 | 887.6 |
Property, Plant & Equipment | 400 | 390.9 | 400.1 | 371.6 | 391 | 321 |
Long-Term Investments | 51 | 50.3 | 85.3 | 100.2 | 96 | 63.3 |
Goodwill | 1,746 | 1,611 | 1,562 | 1,579 | 1,572 | 1,207 |
Other Intangible Assets | 550 | 379.3 | 408.8 | 484.4 | 548.6 | 328.2 |
Long-Term Deferred Tax Assets | 93.9 | 78.7 | 43.2 | 14.6 | 10.8 | 12.8 |
Long-Term Deferred Charges | 27.8 | 30.1 | 26.6 | 29.3 | 35.4 | 31.1 |
Other Long-Term Assets | 18.7 | 12.1 | 8.8 | 8.8 | 10.5 | 11.7 |
Total Assets | 3,951 | 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 | 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 |
Accounts Payable | 101.7 | 97.9 | 87.3 | 78.4 | 76.2 | 76.5 |
Accrued Expenses | 230.2 | 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 | 40.4 | 41.8 | 35.1 | 36.4 | 37.3 | 36.4 |
Current Income Taxes Payable | 19.6 | 24 | 30.5 | - | - | - |
Current Unearned Revenue | 600.3 | 586.1 | 540.8 | 517.7 | 455.6 | 377.4 |
Other Current Liabilities | 5.2 | 9.3 | 1.4 | 1.8 | 61.2 | 19.5 |
Total Current Liabilities | 1,016 | 1,053 | 967.3 | 880.8 | 882.5 | 783.5 |
Long-Term Debt | 1,661 | 1,073 | 698.6 | 940.3 | 1,078 | 359.4 |
Long-Term Leases | 140.3 | 146.7 | 170.3 | 151.4 | 176.7 | 135.7 |
Long-Term Unearned Revenue | 21.8 | 21 | 22.4 | 26.3 | 33.5 | 36.4 |
Long-Term Deferred Tax Liabilities | 21.1 | 27.2 | 27.6 | 35.6 | 62.9 | 101.7 |
Other Long-Term Liabilities | 66.2 | 47.5 | 44.1 | 41.2 | 34.6 | 30.1 |
Total Liabilities | 2,926 | 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 | 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 |
Additional Paid-In Capital | 919.9 | 869.5 | 822.7 | 789 | 757.8 | 689 |
Retained Earnings | 2,480 | 2,206 | 1,909 | 1,611 | 1,535 | 1,527 |
Treasury Stock | -2,288 | -1,786 | -993.9 | -985.5 | -986.7 | -764.3 |
Comprehensive Income & Other | -86.4 | -68.1 | -119.4 | -86.5 | -99 | -35.3 |
Total Common Equity | 1,026 | 1,222 | 1,619 | 1,328 | 1,207 | 1,416 |
Shareholders' Equity | 1,026 | 1,222 | 1,619 | 1,328 | 1,207 | 1,416 |
Total Liabilities & Equity | 3,951 | 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 | 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 |
Total Debt | 1,859 | 1,261 | 904 | 1,160 | 1,324 | 531.5 |
Net Cash (Debt) | -1,335 | -732.4 | -353 | -771.2 | -909 | 14.6 |
Net Cash Growth | - | - | - | - | - | - |
Net Cash Per Share | -34.18 | -17.36 | -8.19 | -17.98 | -21.19 | 0.34 |
Filing Date Shares Outstanding | 37.1 | 39.58 | 42.84 | 42.73 | 42.48 | 42.96 |
Total Common Shares Outstanding | 37.1 | 39.74 | 42.87 | 42.73 | 42.48 | 43.14 |
Working Capital | 48.4 | -15.3 | 46.8 | -65.1 | -71.7 | 104.1 |
Book Value Per Share | 27.64 | 30.75 | 37.76 | 31.08 | 28.42 | 32.82 |
Tangible Book Value | -1,270 | -768.2 | -352.2 | -735.4 | -913.2 | -119.3 |
Tangible Book Value Per Share | -34.23 | -19.33 | -8.22 | -17.21 | -21.50 | -2.77 |
Machinery | - | 156.1 | 138.1 | 152.6 | 144.4 | 124.8 |
Construction In Progress | - | 12.9 | 12.2 | 13.8 | 13.7 | 11 |
Leasehold Improvements | - | 136.1 | 113.9 | 113.3 | 106.5 | 100.7 |