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Morningstar MORN Q2 2026 earnings

Reported July 29, 2026 · After market close

Revenue$663.2MBeat by $13.5M
EPS$3.10Beat by $0.27
Revenue estimate$649.7M
EPS estimate$2.83
“Morningstar is accelerating an ambitious strategy, unlocking speed to insights by building agentic workflows and tools atop our data, research, and intellectual property. We're enabling broader access to this content through new and expanded collaborations with leading model and enterprise technology providers.”
Kunal Kapoor

Next report

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

Financials

Q2 2026

Income statement

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Revenue$663.2M+9.6%
Gross profit$423.9M+13.2%
Operating income$160.6M+28.4%
Net income$107.8M+21.1%
EPS (diluted)$2.83+35.4%

Balance sheet

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Cash & equivalents$489.5M-2.8%
Total debt$1.9B+86.0%
Total equity$1.0B-36.6%
Total assets$3.9B+8.7%

Cash flow

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Operating cash flow$155.7M+57.3%
CapEx$33.2M-9.3%
Free cash flow$122.5M+96.3%

Valuation & ratios

Valuation

as of 09/16/26
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Market cap$7.57B-27.9%
Enterprise value$9B-18.4%
P/E18×-8.0×
P/S3×-1.5×

Profitability

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Gross margin62.2%+1.3pp
Operating margin23.5%+1.3pp
Net margin16.4%-0.8pp
FCF margin19.4%+2.8pp

Returns & leverage

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Return on equity32%+5.4pp
Debt / equity1.9×+1.2×
Current ratio1.1×-0.1×

Segments

By segment

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Morningstar Data and Analytics Segment$222.1M+6.2%
PitchBook Segment$174.7M+4.9%
Morningstar Wealth Segment$104.9M+23.4%
Corporate and Other$63.3M+32.7%
Morningstar Credit Segment$60.3M-6.2%

By geography

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United States$479.1M—
GB$47.3M—
Canada$46.6M—
Australia$19.4M—

By product

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License-based$455.1M+6.2%
Transaction-based$111.3M+18.0%
Asset-based$96.8M+17.5%

FAQ

When did Morningstar report Q2 2026 earnings?
Morningstar (MORN) reported Q2 2026 earnings on July 29, 2026 after market close.
What were Morningstar's Q2 2026 revenue and EPS?
Morningstar reported revenue of $663.2M and eps of $3.10 for Q2 2026.
Did Morningstar beat estimates in Q2 2026?
Revenue beat the consensus estimate of $649.7M by $13.5M. EPS beat the consensus estimate of $2.83 by $0.27.
How did Morningstar's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.6% from $605.1M a year earlier and eps grew 29.2% from $2.40.
Where can I find Morningstar's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001289419-26-000042) and the 10-Q periodic report (0001289419-26-000041) directly on SEC EDGAR. The filing index links above go to sec.gov.