A Business at a Glance
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Our Mission Our mission is to empower investor success. We deliver connected data, independent research, investor-first tools, and long-term portfolio strategies with a focus on removing frictions that can slow decisions, cloud markets, and drive up costs. Our Business Morningstar, Inc. is a leading global provider of independent investment insights. Our core competencies are data, research, design, and technology, and we employ each of these to create products built on the depth and breadth of our data that are designed to clearly convey complex investment information. We offer a variety of products and solutions that serve a wide range of market participants.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.4B | 2.4B | 2.3B | 2.0B | 1.9B | 1.7B |
| Net Income | 374M | 374M | 370M | 141M | 71M | 193M |
| EPS | $8.87 | $8.87 | $8.58 | $3.29 | $1.64 | $4.45 |
| Free Cash Flow | 443M | 443M | 449M | 197M | 168M | 348M |
| ROIC | 13.7% | 16.2% | 16.0% | 6.1% | 3.4% | 11.1% |
| Gross Margin | 61.0% | 61.0% | 60.6% | 58.6% | 58.3% | 58.9% |
| Debt/Equity | 1.76 | 1.76 | 0.86 | 1.46 | 1.84 | 0.51 |
| Dividends/Share | $1.82 | $1.87 | $1.67 | $1.53 | $1.46 | $1.31 |
| Operating Income | 527M | 527M | 485M | 231M | 168M | 257M |
| Operating Margin | 21.5% | 21.5% | 21.3% | 11.3% | 9.0% | 15.1% |
| ROE | 30.6% | 26.3% | 25.1% | 11.1% | 5.4% | 14.4% |
| Shares Outstanding | 42M | 42M | 43M | 43M | 43M | 43M |
Morningstar, Inc. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Morningstar, Inc. trades at 19.4x trailing earnings, compared to its 15-year median P/E of 39.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 15.4x vs a median of 27.5x. The company's 5-year average ROIC is 10.6% with a gross margin of 59.5%. Total shareholder yield (dividends + buybacks) is 11.9%. At current prices, the estimated annualized return to fair value is +4.1%.
Morningstar, Inc. (MORN) has a current P/E ratio of 19.4, compared to its historical median P/E of 39.3. The stock is currently considered Fair based on its historical valuation range.
Morningstar, Inc. (MORN) has a 5-year average return on invested capital (ROIC) of 10.6%. This indicates solid capital allocation.
Morningstar, Inc. (MORN) has a market capitalization of $7.3B. It is classified as a mid-cap stock.
Yes, Morningstar, Inc. (MORN) pays a dividend with a trailing twelve-month yield of 1.06%. The company also returns capital through share buybacks, with a buyback yield of 10.83%.
Based on historical P/E analysis, Morningstar, Inc. (MORN) appears fair. The current P/E of 19.4 is 51% below its historical median of 39.3. The estimated fair value CAGR (P/E method) is 2.4%.
Morningstar, Inc. (MORN) operates in the Investment Advice industry, within the Financials sector.
Morningstar, Inc. (MORN) reported annual revenue of $2.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
Morningstar, Inc. (MORN) has a net profit margin of 15.3%. This is a healthy margin.
Morningstar, Inc. (MORN) generated $443 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Morningstar, Inc. (MORN) has a debt-to-equity ratio of 1.76. This indicates higher leverage, which may increase financial risk.
Morningstar, Inc. (MORN) reported earnings per share (EPS) of $8.87 in its most recent fiscal year.
Morningstar, Inc. (MORN) has a return on equity (ROE) of 26.3%. This indicates the company generates strong returns for shareholders.
Morningstar, Inc. (MORN) has a 5-year average gross margin of 59.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for Morningstar, Inc. (MORN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Morningstar, Inc. (MORN) has a book value per share of $28.96, based on its most recent annual SEC filing.