Morningstar, Inc. (MORN)

Morningstar Revenue

Morningstar had revenue of $672.10M in the quarter ending September 30, 2026, with 8.86% growth. This brings the company's total for the last twelve months to $2.62B, up 9.43% year-over-year. In the year 2025, Morningstar had annual revenue of $2.45B with 7.49% growth. That makes Morningstar the 4,185th largest company in the world by revenue and 1,138th in the United States.

• Revenue (ttm): $2.62B
• Revenue Growth: +9.43%
• P/S Ratio: 3.44
• Revenue / Employee: $239,664
• Employees: 10,937
• Market Cap: 9.03B

Revenue Chart

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Revenue by Segment

By Segment

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• License-Based 1.72B 70.3%
• Transaction-Based 383.30M 15.7%
• Asset-Based 343.00M 14.0%

By Geography

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• United States 1.75B 71.8%
• Continental Europe 219.60M 9.0%
• United Kingdom 189.80M 7.8%
• Canada 154.90M 6.3%
• Australia 65.30M 2.7%
• Asia 48.00M 2.0%
• Other Regional 13.00M 0.5%

Fiscal year ended Dec 31, 2025 See the full Morningstar breakdown

Revenue History

Fiscal Year End	Revenue	Change	Growth
Dec 31, 2025	2.45B	170.40M	7.49%
Dec 31, 2024	2.28B	236.50M	11.60%
Dec 31, 2023	2.04B	168.00M	8.98%
Dec 31, 2022	1.87B	171.30M	10.08%
Dec 31, 2021	1.70B	309.80M	22.30%
Dec 31, 2020	1.39B	210.50M	17.85%
Dec 31, 2019	1.18B	159.10M	15.60%
Dec 31, 2018	1.02B	108.20M	11.87%
Dec 31, 2017	911.70M	113.10M	14.16%
Dec 31, 2016	798.60M	9.80M	1.24%
Dec 31, 2015	788.80M	28.70M	3.78%
Dec 31, 2014	760.10M	61.80M	8.85%
Dec 31, 2013	698.30M	40.01M	6.08%
Dec 31, 2012	658.29M	26.89M	4.26%
Dec 31, 2011	631.40M	76.05M	13.69%
Dec 31, 2010	555.35M	76.36M	15.94%
Dec 31, 2009	479.00M	-23.46M	-4.67%
Dec 31, 2008	502.46M	67.35M	15.48%
Dec 31, 2007	435.11M	119.93M	38.05%
Dec 31, 2006	315.18M	88.06M	38.77%
Dec 31, 2005	227.11M	-	-

Data Source: Fiscal.ai Last updated: Oct 28, 2026

Revenue data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 3, 2026

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