What is Morningstar's market cap?

Morningstar (MORN) has a market capitalization of $8.3B and trades on NASDAQ.

What is Morningstar's revenue and profitability?

Morningstar generated $2.6B in trailing twelve-month revenue with net income of $445.5M, representing a net margin of 17.0%. Gross margin stands at 63.1%, with free cash flow of $492.8M. The latest reported period is Q3 2026.

Who are Morningstar's competitors?

Morningstar's key competitors include MSCI, S&P Global, BlackRock, and others. These companies compete in similar markets and product categories.

Who does Morningstar partner with?

Morningstar's notable partners include Anthropic, Microsoft, OpenAI, and others.

What subsidiaries does Morningstar have?

Morningstar's subsidiaries include PitchBook Data, Inc., Sustainalytics, DBRS, and others.

Where is Morningstar headquartered?

Morningstar is headquartered in United States of America and employs approximately 11,334 people. It has been publicly traded since 2005.

Morningstar (MORN) Stock Fundamentals & Financials

Morningstar, Inc. is a leading global provider of independent investment insights, delivering data, research, and technology-driven tools to a wide range of market participants.

Market cap

$8.26B-5.5%

Revenue$2.6B+9.4%

Net income$445.5M+18.5%

Free cash flow$492.8M+25.0%

EPS (diluted)$11.41+29.8%

Trailing twelve months · change vs. prior year

Earnings

Q3 2026 report

October 28, 2026

Revenue$672.1MBeat by $7.4M EPS$3.48Beat by $0.44

Read the full report

Next report

Date not yet announced

Financials

Q3 2026

Income statement

See full

Revenue$672.1M+8.9%

Gross profit$431.4M+14.8%

Operating income$167.4M+31.0%

Net income$115.5M+26.1%

EPS (diluted)$3.06+41.0%

Balance sheet

See full

Cash & equivalents$496.7M+4.7%

Total debt$1.9B+78.3%

Total assets$4.0B+11.1%

Cash flow

See full

Operating cash flow$190.7M-2.6%

CapEx$35.3M-0.8%

Free cash flow$155.4M-2.9%

Valuation & ratios

Valuation

See full

Market cap$8.26B-5.5%

Enterprise value$9.62B+0.1%

P/E18.5×-5.5×

P/S3.2×-0.6×

Profitability

See full

Gross margin63.1%+2.1pp

Operating margin24.5%+2.2pp

Net margin17%+1.3pp

FCF margin18.8%+2.3pp

Returns & leverage

See full

Current ratio1×0.0×

Segments

By segment

See full

Morningstar Data and Analytics Segment$222.5M+5.4%

PitchBook Segment$175.6M+3.9%

Morningstar Wealth Segment$107.8M+18.3%

Corporate and Other$65.3M+30.9%

Morningstar Credit Segment$59.4M-4.3%

By geography

See full

Continental Europe$58.6M+6.4%

United Kingdom$12.8M+3.2%

Other$3.7M+12.1%

By product

See full

License-based$459.0M+5.5%

Transaction-based$110.1M+12.7%

Asset-based$103.0M+21.6%

Competitors

By market cap

Blackrock$181.85B+6.8%

S&P Global$133.55B-10.5%

Moody's$84.3B-1.4%

MSCI$45.0B+2.6%

FactSet Research Systems$11.3B+12.1%

Morningstar$8.3B-8.7%

MarketWise, Inc.$55.8M+20.3%

ATH

Aether Holdings$32.4M-55.2%

By revenue growth

Blackrock+24.7%

MSCI+12.3%

Morningstar+9.4%

Moody's+9.0%

FactSet Research Systems+6.7%

S&P Global+6.0%

ATH

Aether Holdings-3.3%

By net margin

MSCI40.31%+0.3pp

Moody's35.26%+5.3pp

S&P Global31.34%+3.2pp

Blackrock24.22%-2.4pp

FactSet Research Systems21.54%-4.2pp

Morningstar17.0%+1.3pp

ATH

Aether Holdings-378.47%-229pp

Profile

Morningstar, Inc. is a leading global provider of independent investment insights, delivering data, research, and technology-driven tools to a wide range of market participants. The company empowers investor success by offering comprehensive portfolio strategies, credit ratings, and private market data designed to simplify complex financial information and reduce decision-making friction.

Competitive position

A leading global provider of independent insights and one of the few firms offering a comprehensive suite of data, research, software, indexes, and investment management services.

GeographiesNorth America, Europe, Asia-Pacific, Middle East, Africa

Customer segmentsFinancial Institutions, Retail Investors, Institutional Investors, Corporations

Business modelSubscription SaaS, Asset-based fees, Transaction-based fees, Advertising

SuppliersPublic regulatory filings, Stock exchanges, Third-party data providers, Cloud infrastructure providers

CustomersRetail financial advisors, Institutional asset owners, Investment banks, Individual self-directed investors, Retirement plan sponsors

CountryUnited States of America

Listed2005

Employees11.3K

CEOKunal Kapoor

SectorFinancial Services

IndustryFinancial - Data & Stock Exchanges

Websitemorningstar.com

FilingsSEC EDGAR

FAQ

What is Morningstar's market cap?: Morningstar (MORN) has a market capitalization of $8.3B and trades on NASDAQ.
What is Morningstar's revenue and profitability?: Morningstar generated $2.6B in trailing twelve-month revenue with net income of $445.5M, representing a net margin of 17.0%. Gross margin stands at 63.1%, with free cash flow of $492.8M. The latest reported period is Q3 2026.
Who are Morningstar's competitors?: Morningstar's key competitors include MSCI, S&P Global, BlackRock, and others. These companies compete in similar markets and product categories.
Who does Morningstar partner with?: Morningstar's notable partners include Anthropic, Microsoft, OpenAI, and others.
What subsidiaries does Morningstar have?: Morningstar's subsidiaries include PitchBook Data, Inc., Sustainalytics, DBRS, and others.
Where is Morningstar headquartered?: Morningstar is headquartered in United States of America and employs approximately 11,334 people. It has been publicly traded since 2005.

Ask your AI about Morningstar.

Connect your AI assistant and dig into the numbers, right in your chat.

Connect your AI

Claude