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Morningstar MORN Contract Liabilities

Contract Liabilities at other companies

Moody's logo
Moody'sMCO
$53M-7.0%
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MSCIMSCI
$32.6M—
StepStone Group Inc. logo
StepStone Group Inc.STEP
$24.4M-5.8%
APA
Artisan Partners Asset Management Inc.APAM
$0—
Oppenheimer Holdings logo
Oppenheimer HoldingsOPY
$2.44M+49.6%

Other financials

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

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Market cap$7.48B-32.8%
Enterprise value$8.91B-23.4%
P/E17.7×-9.8×
P/S2.9×-1.8×

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×

Where this comes from

Reported directly by Morningstar in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiability.

The source filing: Morningstar’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:27 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001289419-26-000041
(in millions)As of June 30, 2026As of December 31, 2025
Deferred revenue (current)$628.4$586.1
Deferred revenue (non-current)19.121.0
Total contract liabilities$647.5$607.1

Item 1.Financial Statements

FAQ

What is Morningstar's contract liabilities?
Morningstar (MORN) reported contract liabilities of $647.5M in Q2 2026.
What is the long-term trend for Morningstar's contract liabilities?
Over 5 years (2020 to 2025), Morningstar's contract liabilities has grown at a -8.9% compound annual growth rate (CAGR), from $33.5M to $21M.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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