Morningstar, Inc. (MORN)

NASDAQ: MORN · Real-Time Price · USD

209.40

-6.36 (-2.95%)

At close: Sep 4, 2026, 4:00 PM EDT

209.53

+0.13 (0.06%)

After-hours: Sep 4, 2026, 7:30 PM EDT

Morningstar Ratios and Metrics

Market cap in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Total Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 4, 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
Market Capitalization	7,855	8,938	14,442	12,222	9,193	14,738
Market Cap Growth	-27.21%	-38.11%	18.16%	32.95%	-37.62%	48.59%
Enterprise Value	9,236	9,466	14,883	13,099	10,144	14,778
Last Close Price	209.40	215.52	331.83	280.52	210.76	330.92

Price Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 4, 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	19.93	23.89	39.04	86.62	130.40	76.25
Forward PE	16.24	21.33	42.45	51.08	39.01	29.04
PS Ratio	3.06	3.66	6.35	6.00	4.92	8.67
PB Ratio	7.67	7.32	8.92	9.21	7.62	10.41
P/FCF Ratio	15.79	20.19	32.17	61.95	54.63	42.34
P/OCF Ratio	12.14	15.16	24.41	38.63	30.87	32.76
PEG Ratio	-	2.34	2.34	2.34	2.42	2.42

EV Ratios

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 4, 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
EV/Sales Ratio	3.60	3.87	6.54	6.43	5.42	8.70
EV/EBITDA Ratio	13.58	15.95	28.83	39.18	34.27	42.49
EV/EBIT Ratio	15.83	18.70	35.37	56.80	52.37	57.50
EV/FCF Ratio	18.57	21.39	33.15	66.39	60.27	42.45

Financial Efficiency

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 4, 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
Debt / Equity Ratio	1.86	1.03	0.56	0.87	1.10	0.38
Debt / EBITDA Ratio	2.55	1.92	1.57	2.90	3.92	1.36
Debt / FCF Ratio	3.83	2.85	2.01	5.88	7.87	1.53
Net Debt / Equity Ratio	1.35	0.60	0.22	0.58	0.75	-0.01
Net Debt / EBITDA Ratio	2.03	1.23	0.68	2.31	3.07	-0.04
Net Debt / FCF Ratio	2.78	1.66	0.79	3.91	5.40	-0.04
Asset Turnover	0.68	0.69	0.65	0.59	0.59	0.61
Quick Ratio	0.94	0.89	0.95	0.83	0.82	1.05
Current Ratio	1.06	0.99	1.05	0.93	0.92	1.13
Return on Equity (ROE)	31.96%	26.35%	25.11%	11.13%	5.38%	14.39%
Return on Assets (ROA)	9.63%	8.86%	7.57%	4.19%	3.82%	5.78%
Return on Invested Capital (ROIC)	18.24%	19.47%	16.14%	8.87%	6.11%	13.69%
Return on Capital Employed (ROCE)	19.70%	20.00%	16.30%	9.10%	7.50%	12.40%

Yields

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 4, 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
Earnings Yield	5.37%	4.19%	2.56%	1.15%	0.77%	1.31%
FCF Yield	6.33%	4.95%	3.11%	1.61%	1.83%	2.36%
Dividend Yield	0.96%	0.86%	0.50%	0.55%	0.69%	0.40%
Payout Ratio	19.04%	20.55%	18.73%	45.29%	87.23%	28.04%
Buyback Yield / Dilution	6.52%	2.09%	-0.47%	-	1.15%	-0.46%
Total Shareholder Return	7.47%	2.95%	0.04%	0.55%	1.85%	-0.07%

SEC Filings: 10-K · 10-Q