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Morningstar MORN Q1 2025 earnings

Reported April 30, 2025 · After market close

Revenue$581.9MMiss by $3.9M
EPS$2.23Beat by $0.17
Revenue estimate$585.8M
EPS estimate$2.06

Next report

Oct 28, 2026 (in a month)
Revenue estimate$657.3M
EPS estimate$2.97

Financials

Q1 2025

Income statement

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Revenue$581.9M+7.2%
Gross profit$350.5M+7.9%
Operating income$114.1M+23.2%
Net income$78.5M+22.3%
EPS (diluted)$1.82+22.1%

Balance sheet

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Cash & equivalents$511.5M+44.6%
Total debt$1.0B-13.5%
Total equity$1.6B+16.3%
Total assets$3.6B+5.8%

Cash flow

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Operating cash flow$91.0M-2.8%
CapEx$32.2M-5.6%
Free cash flow$58.8M-1.2%

Valuation & ratios

Valuation

as of 03/31/25
See full
Market cap$12.83B-2.6%
Enterprise value$13.32B-4.7%
P/E33.4×-28.5×
P/S5.5×-0.7×

Profitability

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Gross margin60.7%+0.8pp
Operating margin21.9%+7.7pp
Net margin16.6%+6.5pp
FCF margin19.4%+6.9pp

Returns & leverage

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Return on equity25.7%+9.2pp
Debt / equity0.6×-0.2×
Current ratio1.1×+0.1×

Segments

By segment

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Morningstar Data and Analytics Segment$199.2M+1.3%
PitchBook Segment$163.7M+10.9%
Morningstar Wealth Segment$73.0M+23.7%
Morningstar Credit Segment$61.3M+1.7%
Corporate and Other$51.8M+2.0%

By geography

See full
United States$424.5M—
GB$43.7M—
Canada$33.1M—
Australia$15.1M—

By product

See full
License-based$418.0M+4.4%
Asset-based$85.7M+11.3%
Transaction-based$78.2M+19.2%

FAQ

When did Morningstar report Q1 2025 earnings?
Morningstar (MORN) reported Q1 2025 earnings on April 30, 2025 after market close.
What were Morningstar's Q1 2025 revenue and EPS?
Morningstar reported revenue of $581.9M and eps of $2.23 for Q1 2025.
Did Morningstar beat estimates in Q1 2025?
Revenue missed the consensus estimate of $585.8M by $3.9M. EPS beat the consensus estimate of $2.06 by $0.17.
How did Morningstar's Q1 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 7.0% from $544.0M a year earlier and eps grew 28.9% from $1.73.
Where can I find Morningstar's Q1 2025 SEC filings?
You can read the 8-K earnings release (0001289419-25-000067) and the 10-Q periodic report (0001289419-25-000073) directly on SEC EDGAR. The filing index links above go to sec.gov.