Skip to content

Morningstar MORN Asset-based — Consolidated revenue

Other product segments

License-based
$444.9M+6.4%
Transaction-based
$104.8M+34.0%

Similar metrics at other companies

LPL Financial Holdings logo
LPLAAsset-Based Fees Revenue
$748.98M+19.9%
Primerica logo
PRIAsset Based Revenues — Revenue
$174.35M+25.3%
Lazard logo
LAZAsset Management — Revenue
$338.27M+17.4%
Raymond James Financial logo
RJFAsset Management — Revenue
$327M+13.1%
Assured Guaranty logo
AGOAsset Management — Revenue
$118M+1,867%
MSCI logo
MSCIAsset-based fees — Operating revenues
$224.5M+26.6%

Other financials

Income statement

See full
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

See full
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

See full
Operating cash flow$91.5M+0.5%
CapEx$37.9M+17.7%
Free cash flow$53.6M-8.8%

Valuation

See full
Market cap$5.84B-49.2%

Profitability

See full
Gross margin61.7%+1.0pp
Operating margin22.7%+0.8pp
Net margin16.1%-0.5pp
FCF margin17.4%-1.9pp

Returns & leverage

See full
Return on equity30.7%+5.0pp
Debt / equity1.9×+1.3×
Current ratio-0.1×

Where this comes from

Reported directly by Morningstar in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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

Ask your AI about Morningstar's asset-based — consolidated revenue.

Connect your AI assistant and compare segments, right in your chat.

Connect your AI
Harbor at dusk
Claude

Questions, answered.

What is Morningstar's asset-based — consolidated revenue?
Morningstar (MORN) reported asset-based — consolidated revenue of $95.1M in Q1 2026.
How has Morningstar's asset-based — consolidated revenue changed year-over-year?
Morningstar's asset-based — consolidated revenue increased by 11.0% year-over-year, from $85.7M to $95.1M.
What is the long-term trend for Morningstar's asset-based — consolidated revenue?
Over 4 years (2021 to 2025), Morningstar's asset-based — consolidated revenue has grown at a 6.7% compound annual growth rate (CAGR), from $264.9M to $343M.
What does asset-based — consolidated revenue mean?
This metric represents the total revenue generated from investment products and services where fees are calculated as a percentage of assets under management or administration. It reflects the company's ability to monetize its research and data offerings through recurring fee structures tied to client investment portfolios. This revenue stream is a key indicator of the scale and stability of the firm's asset-linked business model.