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Morningstar MORN Morningstar Data and Analytics Segment — Depreciation

Other segment segments

Corporate and Other
$9.9M+106%
PitchBook Segment
$8.8M+8.6%
Morningstar Retirement Segment
$2.2M-18.5%
Morningstar Wealth Segment
$1.4M-30.0%
Morningstar Credit Segment
$1.2M-72.7%

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$58.06M+3.4%

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$7.37B-32.8%
Enterprise value$8.81B-23.4%
P/E17.5×-9.6×
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
FCF margin19.4%+2.8pp

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

Reported directly by Morningstar in its filing.

Tagged under the XBRL concept us-gaap:Depreciation.

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, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Morningstar Direct Platform$9.2$11.2$18.7$22.0
PitchBook8.88.116.715.9
Morningstar Credit1.42.02.84.0
Morningstar Wealth1.24.42.88.9
Morningstar Retirement2.22.74.55.3
Total Reportable Segments22.828.445.556.1
Corporate and All Other (5)9.94.819.89.9
Total$32.7$33.2$65.3$66.0

Item 1.Financial Statements

FAQ

What is Morningstar's morningstar data and analytics segment — depreciation?
Morningstar (MORN) reported morningstar data and analytics segment — depreciation of $9.2M in Q2 2026.
How has Morningstar's morningstar data and analytics segment — depreciation changed year-over-year?
Morningstar's morningstar data and analytics segment — depreciation decreased by 17.9% year-over-year, from $11.2M to $9.2M.
What is the long-term trend for Morningstar's morningstar data and analytics segment — depreciation?
Over 4 years (2021 to 2025), Morningstar's morningstar data and analytics segment — depreciation has grown at a 10.9% compound annual growth rate (CAGR), from $29.5M to $44.7M.
What does morningstar data and analytics segment — depreciation mean?
The systematic allocation of the cost of tangible assets, such as technology infrastructure and equipment, over their useful lives within the Data and Analytics segment. This reflects the capital intensity required to maintain the segment's data platforms and research capabilities.

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