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Morningstar MORN Free cash flow margin

Free cash flow margin at other companies

S&P Global logo
S&P GlobalSPGI
34.6%-2.2pp
VAL
Value LineVALU
55.6%-1.6pp
FactSet Research Systems logo
FactSet Research SystemsFDS
24.4%-0.8pp
Moody's logo
Moody'sMCO
36.4%+3.9pp
MSCI logo
MSCIMSCI
47.9%-0.5pp
Blackrock logo
BlackrockBLK
12.9%-5.1pp

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

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

Calculated from Morningstar’s reported figures.

Based on trailing twelve months.

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

Filed
Jul 29, 2026, 4:27 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001289419-26-000041

FAQ

What is Morningstar's free cash flow margin?
Morningstar (MORN) reported free cash flow margin of 19.4% in Q2 2026.
How has Morningstar's free cash flow margin changed year-over-year?
Morningstar's free cash flow margin increased by 16.7% year-over-year, from 16.6% to 19.4%.
What is the long-term trend for Morningstar's free cash flow margin?
Over 5 years (2020 to 2025), Morningstar's free cash flow margin has grown at a -3.9% compound annual growth rate (CAGR), from 22.1% to 18.1%.
What does free cash flow margin mean?
Free cash flow (operating cash flow minus capital expenditures) as a percentage of revenue, trailing twelve months. Measures how efficiently revenue converts into discretionary cash.

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