What is Morningstar's pre-tax income?

Morningstar (MORN) reported pre-tax income of $141.8M in Q1 2026.

How has Morningstar's pre-tax income changed year-over-year?

Morningstar's pre-tax income increased by 30.7% year-over-year, from $108.5M to $141.8M.

What is the long-term trend for Morningstar's pre-tax income?

Over 4 years (2021 to 2025), Morningstar's pre-tax income has grown at a 18.8% compound annual growth rate (CAGR), from $250.5M to $499M.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

Morningstar MORN Pre-Tax Income

Pre-Tax Income at other companies

S&P GlobalSPGI

$1.91B+27.5%

FactSet Research SystemsFDS

$161.11M-6.5%

Moody'sMCO

$870M+8.2%

MSCIMSCI

$389.2M+17.5%

BlackrockBLK

$2.84B+61.2%

Morgan StanleyMS

$7.01B+26.5%

Other financials

Income statement

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Revenue$644.8M+10.8%

Gross profit$405.9M+15.8%

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

Reported directly by Morningstar in its filing.

Tagged under the XBRL concept us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments.

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 pre-tax income?: Morningstar (MORN) reported pre-tax income of $141.8M in Q1 2026.
How has Morningstar's pre-tax income changed year-over-year?: Morningstar's pre-tax income increased by 30.7% year-over-year, from $108.5M to $141.8M.
What is the long-term trend for Morningstar's pre-tax income?: Over 4 years (2021 to 2025), Morningstar's pre-tax income has grown at a 18.8% compound annual growth rate (CAGR), from $250.5M to $499M.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.