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MORN Morningstar, Inc.

Trailing twelve months to 2026-06-30 · as filed 2026-07-29, not restated
Financials

Scale

Market cap
$8.1bn
Revenue TTM
$2.6bn
Net income TTM
$422m
Free cash flow
$498m
Composite score
63.0
Sector rank
#822

Valuation

P / E
19.1
EV / EBITDA
12.2
EV / sales
3.8
FCF yield
6.17%
Earnings yield vs 10-yr
0.50pp

Earnings yield vs 10-yr compares what the business earns per pound invested against the 4.73% a 10-year US Treasury note pays for no equity risk. Negative means you are paying up front for growth not yet delivered.

Quality and growth

Net margin
16.4%
EBITDA margin
31.3%
ROE
41.2%
ROIC
22.2%
Revenue growth
9.3%

Insider activity, last 90 days

Net open-market
$-20.71m
Buyers
0
Sellers
2

Open-market purchases and sales only. Grants, option exercises, gifts and shares withheld for tax are excluded: they are how people are paid, not what they think.

What management said

Transaction-based: Revenue that is one time in nature and related Morningstar Credit recurring revenue primarily derived from surveillance and research. We exclude revenue from acquired businesses from our organic revenue growth calculation for a period of 12 months after we complete the acquisition. Revenue from Morningstar Sustainalytics was $25.5 million and $27.3 million for the three months ended June 30, 2026 and 2025, respectively, and $52.1 million and $56.1 million for the six months ended June 30, 2026 and 2025, respectively. …Morningstar, Inc., 10-Q, period ended 2026-06-30, filed 2026-07-29

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