What is Morningstar's gross profit?

Morningstar (MORN) reported gross profit of $405.9M in Q1 2026.

How has Morningstar's gross profit changed year-over-year?

Morningstar's gross profit increased by 15.8% year-over-year, from $350.5M to $405.9M.

What is the long-term trend for Morningstar's gross profit?

Over 4 years (2021 to 2025), Morningstar's gross profit has grown at a 10.5% compound annual growth rate (CAGR), from $1B to $1.49B.

What does gross profit mean?

Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

Morningstar MORN Gross Profit

Gross Profit at other companies

S&P GlobalSPGI

$2.94B+11.9%

Moody'sMCO

$1.55B+8.0%

MSCIMSCI

$709M+16.4%

FactSet Research SystemsFDS

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Other financials

Income statement

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Revenue$644.8M+10.8%

Operating income$155.9M+36.6%

Net income$107.1M+36.4%

EPS (diluted)$2.73+50.0%

Balance sheet

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Cash & equivalents$492.8M-3.7%

Total debt$1.9B+91.9%

Total equity$1.0B-36.7%

Total assets$4.0B+11.2%

Cash flow

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Operating cash flow$91.5M+0.5%

CapEx$37.9M+17.7%

Free cash flow$53.6M-8.8%

Valuation

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Market cap$5.84B-49.2%

Enterprise value$7.28B-40.4%

P/E14.5×-15.5×

P/S2.3×-2.6×

Profitability

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Gross margin61.7%+1.0pp

Operating margin22.7%+0.8pp

Net margin16.1%-0.5pp

FCF margin17.4%-1.9pp

Returns & leverage

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Return on equity30.7%+5.0pp

Debt / equity1.9×+1.3×

Current ratio1×-0.1×

Where this comes from

Calculated from Morningstar’s reported figures.

$644.8Mtotal revenue−$238.9Mtotal cost of revenue=$405.9M

The official record: Morningstar’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Morningstar's gross profit?: Morningstar (MORN) reported gross profit of $405.9M in Q1 2026.
How has Morningstar's gross profit changed year-over-year?: Morningstar's gross profit increased by 15.8% year-over-year, from $350.5M to $405.9M.
What is the long-term trend for Morningstar's gross profit?: Over 4 years (2021 to 2025), Morningstar's gross profit has grown at a 10.5% compound annual growth rate (CAGR), from $1B to $1.49B.
What does gross profit mean?: Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.