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Morningstar MORN Morningstar Retirement Segment — Depreciation

Other segment segments

Corporate and Other
$9.9M+106%
Morningstar Data and Analytics Segment
$9.2M-17.9%
PitchBook Segment
$8.8M+8.6%
Morningstar Wealth Segment
$1.4M-30.0%
Morningstar Credit Segment
$1.2M-72.7%

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$3.75M-28.6%
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LFCRReportable Segment — Depreciation
$2.52M

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 retirement segment — depreciation?
Morningstar (MORN) reported morningstar retirement segment — depreciation of $2.2M in Q2 2026.
How has Morningstar's morningstar retirement segment — depreciation changed year-over-year?
Morningstar's morningstar retirement segment — depreciation decreased by 18.5% year-over-year, from $2.7M to $2.2M.
What is the long-term trend for Morningstar's morningstar retirement segment — depreciation?
Over 4 years (2021 to 2025), Morningstar's morningstar retirement segment — depreciation has grown at a 2.0% compound annual growth rate (CAGR), from $9.6M to $10.4M.
What does morningstar retirement segment — depreciation mean?
Represents the systematic allocation of the cost of tangible assets over their useful lives within the retirement segment. This non-cash expense reflects the ongoing capital intensity required to maintain the technology and infrastructure supporting the segment's research platforms.

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