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.

Financial snapshot

Revenue (ttm): 2.6B
Net income (ttm): 421.6M
EPS (ttm): $10.5
P/E (trailing): 20.5x
P/E (forward): 16.6x
Market cap: 8.1B

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%	强力买入
AIG	American International Group Inc.	41.7B	14.7x	1.6x	7.7%	-9.6%	+2.8%	强力买入
AIZ	Assurant, Inc.	14.1B	13.6x	1.0x	14.4%	+6.6%	+36.2%	持有

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E16.6

P25 8.7P50 10.4P75 12.8

Trailing P/E20.5

P25 10.7P50 13.5P75 31.8

ROE32

P25 4.9P50 11P75 15.4

ROIC18.2

P25 -0.7P50 6.7P75 12.6

Benchmarks · 1M

All MORN indicators

Market & fundamental data

Available fields

284

Groups with data

Currency

USD

Showing 284 of 284 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

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

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

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

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

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%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

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

Financial statements

Income-statement and cash-flow amounts, totals and per share.

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

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

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%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

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

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

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%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

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%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

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

Deeper analysis on MORN

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

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Risks

Kill scenarios, soft-pass flags, and downside catalysts.

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Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Frequently asked questions

About this MORN report

Is a complete MORN research report available?

No complete published report is available for Morningstar, Inc. (MORN) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

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