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Morningstar, Inc. (MORN)

NASDAQ: MORN · USD

$215

-0.78 (-0.4%)· Recorded snapshot

Market cap	8.1B
Revenue (ttm)	2.6B
Net income (ttm)	421.6M
EPS (ttm)	$10.5
Shares out	37.5M
P/E (trailing)	20.5x
P/E (forward)	16.6x
Dividend	$2.00 (0.93%)
Volume	178,834
Beta	1.02

Market data

Price

Recent price action with selectable time range.

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ACGL	Arch Capital Group Ltd.	34.8B	8.3x	1.8x	15.9%	+15.1%	+18.7%	Starker Kauf
AIG	American International Group Inc.	41.7B	14.7x	1.6x	7.7%	-9.6%	+2.8%	Starker Kauf
AIZ	Assurant, Inc.	14.1B	13.6x	1.0x	14.4%	+6.6%	+36.2%	Halten

Metric	Value
Amount currency	USD
CIK code	0001289419
Company name	Morningstar, Inc.
Country	United States
Country code	US
CUSIP number	617700109
Earnings date	2026-10-28
Earnings time	amc
Employees	10,937
Employees change	-148
Employees growth	-1.34%
Enterprise value	$9.4B
Exchange	NASDAQ
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	1984
Industry	Financial Data & Stock Exchanges
IPO date	2005-05-03
Is primary listing	Yes
Is SPAC	No
ISIN number	US6177001095
Last 10-K release date	2026-02-13
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$8.1B
Market cap category	Mid-Cap
Next earnings date	2027-02-11
Options	Yes
Price	$215.00
Price currency	USD
Sector	Financials
SIC code	6282
Stock price date	2026-10-28
Symbol	MORN
U.S. state	Illinois
Website	https://www.morningstar.com

Metric

Value

Amount currency

USD

CIK code

0001289419

Company name

Morningstar, Inc.

Country

United States

Country code

CUSIP number

617700109

Earnings date

2026-10-28

Earnings time

amc

Employees

10,937

Employees change

-148

Employees growth

-1.34%

Enterprise value

$9.4B

Exchange

NASDAQ

Financial currency

USD

Financial report date

2026-06-30

First seen

2026-05-09

Fiscal year end

December

Founded

1984

Industry

Financial Data & Stock Exchanges

IPO date

2005-05-03

Is primary listing

Yes

Is SPAC

ISIN number

US6177001095

Last 10-K release date

2026-02-13

Last earnings date

2026-10-28

Last refreshed

2026-10-28

Last stock split type

Never

Market cap

$8.1B

Market cap category

Mid-Cap

Next earnings date

2027-02-11

Options

Yes

Price

$215.00

Price currency

USD

Sector

Financials

SIC code

6282

Stock price date

2026-10-28

Symbol

MORN

U.S. state

Illinois

Website

https://www.morningstar.com

Metric	Value
Adjusted P/E ratio	18.63x
Average P/E ratio (10Y)	63.68x
Average P/E ratio (3Y)	47.35x
Average P/E ratio (5Y)	95.05x
Earnings yield	4.89%
EV/Earnings	22.41x
EV/EBIT	16.19x
EV/EBITDA	13.89x
EV/FCF	18.99x
EV/Sales	3.68x
FCF / EV yield	5.27%
FCF yield	6.17%
Forward EV/Sales	3.45x
Forward P/E	16.64x
Forward P/S	2.95x
Graham number	80.31379
Graham upside	-62.64%
Industry forward P/E	23.83x
Industry P/E	28.12x
Lynch fair value	$125.98
Lynch upside	-41.4%
P/(FCF - SBC) ratio	18.74x
P/(OCF - SBC) ratio	13.91x
P/B ratio	7.91x
P/E ratio	20.47x
P/FCF ratio	16.21x
P/OCF ratio	12.47x
P/S ratio	3.14x
Price/EBITDA ratio	11.86x
Sector forward P/E	13.61x
Sector P/E	15.65x

Metric

Value

Adjusted P/E ratio

18.63x

Average P/E ratio (10Y)

63.68x

Average P/E ratio (3Y)

47.35x

Average P/E ratio (5Y)

95.05x

Earnings yield

4.89%

EV/Earnings

22.41x

EV/EBIT

16.19x

EV/EBITDA

13.89x

EV/FCF

18.99x

EV/Sales

3.68x

FCF / EV yield

5.27%

FCF yield

6.17%

Forward EV/Sales

3.45x

Forward P/E

16.64x

Forward P/S

2.95x

Graham number

80.31379

Graham upside

-62.64%

Industry forward P/E

23.83x

Industry P/E

28.12x

Lynch fair value

$125.98

Lynch upside

-41.4%

P/(FCF - SBC) ratio

18.74x

P/(OCF - SBC) ratio

13.91x

P/B ratio

7.91x

P/E ratio

20.47x

P/FCF ratio

16.21x

P/OCF ratio

12.47x

P/S ratio

3.14x

Price/EBITDA ratio

11.86x

Sector forward P/E

13.61x

Sector P/E

15.65x

Metric	Value
EBIT margin	22.74%
EBITDA margin	26.5%
Effective tax rate	25.02%
FCF margin	19.38%
Gross margin	62.24%
Operating margin	22.74%
Pretax margin	21.91%
Profit margin	16.43%
Profit per employee	$38,548
Profitable quarters	13
Profitable years	22
Revenue per employee	$234,662
ROA	9.63%
ROA (5Y)	6.04%
ROCE	19.68%
ROE	31.96%
ROE (5Y)	16.47%
ROIC	18.24%
ROIC (5Y)	12.86%
SBC / revenue	2.61%
Tax / revenue	5.48%

Metric

Value

EBIT margin

22.74%

EBITDA margin

26.5%

Effective tax rate

25.02%

FCF margin

19.38%

Gross margin

62.24%

Operating margin

22.74%

Pretax margin

21.91%

Profit margin

16.43%

Profit per employee

$38,548

Profitable quarters

Profitable years

Revenue per employee

$234,662

ROA

9.63%

ROA (5Y)

6.04%

ROCE

19.68%

ROE

31.96%

ROE (5Y)

16.47%

ROIC

18.24%

ROIC (5Y)

12.86%

SBC / revenue

2.61%

Tax / revenue

5.48%

Metric	Value
EPS growth	11.68%
EPS growth (Q)	35.41%
EPS growth (QoQ)	3.66%
EPS growth 10Y	13.3%
EPS growth 3Y	170.28%
EPS growth 5Y	13.66%
EPS growth quarters	3
EPS growth years	3
FCF growth	27.63%
FCF growth (Q)	96.31%
FCF growth (QoQ)	128.54%
FCF growth 3Y	58.94%
FCF growth 5Y	9.68%
Gross profit growth	11.67%
Gross profit growth (Q)	13.19%
Gross profit growth 3Y	13.17%
Gross profit growth 5Y	11.38%
Net income growth	4.33%
Net income growth (Q)	21.12%
Net income growth (QoQ)	0.65%
Net income growth 3Y	164.44%
Net income growth 5Y	11.99%
Net income growth quarters	2
Net income growth years	3
OCF growth	20.85%
OCF growth (Q)	57.27%
OCF growth (QoQ)	70.16%
OCF growth 10Y	11.84%
OCF growth 3Y	36.65%
OCF growth 5Y	10.12%
Operating income growth	27.15%
Operating income growth (Q)	28.38%
Operating income growth 3Y	59.98%
Operating income growth 5Y	15.22%
Revenue growth	9.33%
Revenue growth (Q)	9.6%
Revenue growth (QoQ)	2.85%
Revenue growth 10Y	12.54%
Revenue growth 3Y	10.01%
Revenue growth 5Y	10.67%
Revenue growth quarters	40
Revenue growth years	16

Metric

Value

EPS growth

11.68%

EPS growth (Q)

35.41%

EPS growth (QoQ)

3.66%

EPS growth 10Y

13.3%

EPS growth 3Y

170.28%

EPS growth 5Y

13.66%

EPS growth quarters

EPS growth years

FCF growth

27.63%

FCF growth (Q)

96.31%

FCF growth (QoQ)

128.54%

FCF growth 3Y

58.94%

FCF growth 5Y

9.68%

Gross profit growth

11.67%

Gross profit growth (Q)

13.19%

Gross profit growth 3Y

13.17%

Gross profit growth 5Y

11.38%

Net income growth

4.33%

Net income growth (Q)

21.12%

Net income growth (QoQ)

0.65%

Net income growth 3Y

164.44%

Net income growth 5Y

11.99%

Net income growth quarters

Net income growth years

OCF growth

20.85%

OCF growth (Q)

57.27%

OCF growth (QoQ)

70.16%

OCF growth 10Y

11.84%

OCF growth 3Y

36.65%

OCF growth 5Y

10.12%

Operating income growth

27.15%

Operating income growth (Q)

28.38%

Operating income growth 3Y

59.98%

Operating income growth 5Y

15.22%

Revenue growth

9.33%

Revenue growth (Q)

9.6%

Revenue growth (QoQ)

2.85%

Revenue growth 10Y

12.54%

Revenue growth 3Y

10.01%

Revenue growth 5Y

10.67%

Revenue growth quarters

Revenue growth years

Metric	Value
Capital expenditures	$-149.4M
Depreciation and amortization	$96.6M
EBIT	$583.5M
EBITDA	$680.1M
EPS	$10.50
FCF per share	$13.26
Financing cash flow	$-195.8M
Free cash flow	$497.5M
Free cash flow minus SBC	$430.5M
Gross profit	$1.6B
Income taxes	$140.7M
Investing cash flow	$-455.1M
Net borrowing	$875.3M
Net cash flow	$-14M
Net income	$421.6M
Operating cash flow minus SBC	$579.9M
Operating income	$583.5M
Revenue	$2.6B
Stock-based compensation	$67M

Metric

Value

Capital expenditures

$-149.4M

Depreciation and amortization

$96.6M

EBIT

$583.5M

EBITDA

$680.1M

EPS

$10.50

FCF per share

$13.26

Financing cash flow

$-195.8M

Free cash flow

$497.5M

Free cash flow minus SBC

$430.5M

Gross profit

$1.6B

Income taxes

$140.7M

Investing cash flow

$-455.1M

Net borrowing

$875.3M

Net cash flow

$-14M

Net income

$421.6M

Operating cash flow minus SBC

$579.9M

Operating income

$583.5M

Revenue

$2.6B

Stock-based compensation

$67M

Metric	Value
Altman Z-Score	3.77
Book value per share	$27.29
Debt / EBITDA	2.55
Debt / equity	1.86
Debt / FCF	3.83
Goodwill	$1.7B
Interest coverage	10.51
Long-term assets	$2.9B
Long-term liabilities	$1.9B
Net cash (debt)	$-1.4B
Net cash / market cap	-17.12%
Net debt / EBITDA	2.03
Net debt / equity	1.35
Net debt / FCF	2.78
Piotroski F-Score	6
Property, plant and equipment	$404.3M
Shareholders' equity	$1B
Tangible book value	$-1.3B
Tangible book value per share	$-34.41
Total assets	$3.9B
Total cash	$523.8M
Total debt	$1.9B
Total liabilities	$2.9B
WACC	8.4%

Metric

Value

Altman Z-Score

3.77

Book value per share

$27.29

Debt / EBITDA

2.55

Debt / equity

1.86

Debt / FCF

3.83

Goodwill

$1.7B

Interest coverage

10.51

Long-term assets

$2.9B

Long-term liabilities

$1.9B

Net cash (debt)

$-1.4B

Net cash / market cap

-17.12%

Net debt / EBITDA

2.03

Net debt / equity

1.35

Net debt / FCF

2.78

Piotroski F-Score

Property, plant and equipment

$404.3M

Shareholders' equity

$1B

Tangible book value

$-1.3B

Tangible book value per share

$-34.41

Total assets

$3.9B

Total cash

$523.8M

Total debt

$1.9B

Total liabilities

$2.9B

WACC

8.4%

Metric	Value
Asset turnover	0.68
Current assets	$1B
Current liabilities	$980.3M
Current ratio	1.06
Net working capital	$-409.2M
Quick ratio	0.94
Working capital	$54.6M
Working capital turnover	29.18

Metric

Value

Asset turnover

0.68

Current assets

$1B

Current liabilities

$980.3M

Current ratio

1.06

Net working capital

$-409.2M

Quick ratio

0.94

Working capital

$54.6M

Working capital turnover

29.18

Metric	Value
Buyback yield / dilution	6.52%
Dividend growth	9.89%
Dividend growth (10Y)	8.56%
Dividend growth (3Y)	10.06%
Dividend growth (5Y)	9.68%
Dividend growth years	4
Dividend payment date	2026-10-30
Dividend payment years	17
Dividend payout frequency	Quarterly
Dividend per share	$2.00
Dividend yield	0.93%
Ex-dividend date	2026-10-02
FCF payout ratio	15.08%
Last dividend	$0.50
Payout ratio	19.04%
Shareholder yield	7.45%

Metric

Value

Buyback yield / dilution

6.52%

Dividend growth

9.89%

Dividend growth (10Y)

8.56%

Dividend growth (3Y)

10.06%

Dividend growth (5Y)

9.68%

Dividend growth years

Dividend payment date

2026-10-30

Dividend payment years

Dividend payout frequency

Quarterly

Dividend per share

$2.00

Dividend yield

0.93%

Ex-dividend date

2026-10-02

FCF payout ratio

15.08%

Last dividend

$0.50

Payout ratio

19.04%

Shareholder yield

7.45%

Metric	Value
10Y price change	203.68%
10Y return CAGR	12.63%
10Y total return	228.52%
150-day SMA	$186.32
15Y price change	253.1%
15Y return CAGR	9.67%
15Y total return	299.31%
1D price change	-0.36%
1M price change	9.49%
1M total return	9.78%
1W price change	1.33%
1W total return	1.33%
1Y price change	-1.72%
1Y return CAGR	-0.64%
1Y total return	-0.64%
20-day SMA	$206.59
200-day SMA	$185.64
20Y price change	405.01%
20Y return CAGR	9.12%
20Y total return	473.07%
3M price change	17.62%
3M total return	17.93%
3Y price change	-11.21%
3Y return CAGR	-3.15%
3Y total return	-9.16%
50-day SMA	$205.54
50-day SMA vs 200-day SMA	50over200
52-week high	$226.29
52-week high date	2026-10-27
52-week low	$141.49
52-week low date	2026-06-25
5Y price change	-29.78%
5Y return CAGR	-6.16%
5Y total return	-27.24%
6M price change	20.71%
6M total return	21.4%
All-time high	$365.00
All-time high date	2024-12-16
All-time low	$18.51
All-time low date	2005-05-03
Average true range (ATR)	$6.33
Average volume	245.4K
Beta (1Y)	0.94
Beta (2Y)	0.81
Beta (5Y)	1.02
Change from 52-week high	-4.99%
Change from 52-week low	51.95%
Change from all-time high	-41.21%
Change from all-time low	1,059.27%
Change from open	-0.75%
Day's gap	0.39%
Dollar volume	$38.4M
High price	$216.63
Low price	$213.18
Monthly RSI	47.19
Open price	$216.63
Position in 52-week range	52.75%
Previous close	$215.78
Price vs 150-day SMA	15.17%
Price vs 20-day SMA	3.87%
Price vs 200-day SMA	15.59%
Price vs 50-day SMA	4.4%
Relative volume	0.73
RSI	57.18
Sharpe ratio	0.09
Sharpe ratio (3Y)	0.01
Sharpe ratio (5Y)	-0.11
Sortino ratio	0.27
Sortino ratio (3Y)	0.19
Sortino ratio (5Y)	0.01
Volume	178.8K
Weekly RSI	56.07
YTD price change	-1.26%
YTD total return	-0.17%

Metric

Value

10Y price change

203.68%

10Y return CAGR

12.63%

10Y total return

228.52%

150-day SMA

$186.32

15Y price change

253.1%

15Y return CAGR

9.67%

15Y total return

299.31%

1D price change

-0.36%

1M price change

9.49%

1M total return

9.78%

1W price change

1.33%

1W total return

1.33%

1Y price change

-1.72%

1Y return CAGR

-0.64%

1Y total return

-0.64%

20-day SMA

$206.59

200-day SMA

$185.64

20Y price change

405.01%

20Y return CAGR

9.12%

20Y total return

473.07%

3M price change

17.62%

3M total return

17.93%

3Y price change

-11.21%

3Y return CAGR

-3.15%

3Y total return

-9.16%

50-day SMA

$205.54

50-day SMA vs 200-day SMA

50over200

52-week high

$226.29

52-week high date

2026-10-27

52-week low

$141.49

52-week low date

2026-06-25

5Y price change

-29.78%

5Y return CAGR

-6.16%

5Y total return

-27.24%

6M price change

20.71%

6M total return

21.4%

All-time high

$365.00

All-time high date

2024-12-16

All-time low

$18.51

All-time low date

2005-05-03

Average true range (ATR)

$6.33

Average volume

245.4K

Beta (1Y)

0.94

Beta (2Y)

0.81

Beta (5Y)

1.02

Change from 52-week high

-4.99%

Change from 52-week low

51.95%

Change from all-time high

-41.21%

Change from all-time low

1,059.27%

Change from open

-0.75%

Day's gap

0.39%

Dollar volume

$38.4M

High price

$216.63

Low price

$213.18

Monthly RSI

47.19

Open price

$216.63

Position in 52-week range

52.75%

Previous close

$215.78

Price vs 150-day SMA

15.17%

Price vs 20-day SMA

3.87%

Price vs 200-day SMA

15.59%

Price vs 50-day SMA

4.4%

Relative volume

0.73

RSI

57.18

Sharpe ratio

0.09

Sharpe ratio (3Y)

0.01

Sharpe ratio (5Y)

-0.11

Sortino ratio

0.27

Sortino ratio (3Y)

0.19

Sortino ratio (5Y)

0.01

Volume

178.8K

Weekly RSI

56.07

YTD price change

-1.26%

YTD total return

-0.17%

Metric	Value
Float	19.6M
Float percentage	52.2%
Shares change (QoQ)	-3.05%
Shares change (YoY)	-6.52%
Shares held by insiders	47.75%
Shares held by institutions	65.67%
Shares outstanding	37.5M
Short % of float	6.35%
Short % of shares	3.32%
Short ratio	4.3 days

Metric

Value

Float

19.6M

Float percentage

52.2%

Shares change (QoQ)

-3.05%

Shares change (YoY)

-6.52%

Shares held by insiders

47.75%

Shares held by institutions

65.67%

Shares outstanding

37.5M

Short % of float

6.35%

Short % of shares

3.32%

Short ratio

4.3 days

Morningstar, Inc. (MORN)

Price

Financial snapshot

Fair-value bridge

Latest news · MORN

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All MORN indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on MORN

Frequently asked questions