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Morningstar MORN License-based — Consolidated revenue
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Where this comes from
Reported directly by Morningstar in its filing.
Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
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) | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| License-based | $455.1 | $428.4 | $900.0 | $846.4 |
| Asset-based | 96.8 | 82.4 | 191.9 | 168.1 |
| Transaction-based | 111.3 | 94.3 | 216.1 | 172.5 |
| Consolidated revenue | $663.2 | $605.1 | $1,308.0 | $1,187.0 |
Item 1.Financial Statements
FAQ
- What is Morningstar's license-based — consolidated revenue?
- Morningstar (MORN) reported license-based — consolidated revenue of $455.1M in Q2 2026.
- How has Morningstar's license-based — consolidated revenue changed year-over-year?
- Morningstar's license-based — consolidated revenue increased by 6.2% year-over-year, from $428.4M to $455.1M.
- What is the long-term trend for Morningstar's license-based — consolidated revenue?
- Over 4 years (2021 to 2025), Morningstar's license-based — consolidated revenue has grown at a 11.0% compound annual growth rate (CAGR), from $1.13B to $1.72B.
- What does license-based — consolidated revenue mean?
- This metric represents the total revenue generated from the company's license-based business segment, which typically involves recurring subscription fees for access to proprietary data, research platforms, and analytical software tools. It serves as a key indicator of the company's ability to monetize its intellectual property and maintain a stable, predictable revenue stream from institutional and individual clients. Growth in this area reflects the successful adoption and retention of the company's core investment research and data solutions within the financial services market.
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