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Morningstar MORN PitchBook Segment — Depreciation

Other segment segments

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$9.9M+94.1%
Morningstar Data and Analytics Segment
$9.5M-12.0%
Morningstar Retirement Segment
$2.3M-11.5%
Morningstar Credit Segment
$1.6M-64.4%
Morningstar Wealth Segment
$1.4M-30.0%

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$10.4M+15.6%

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 ratio-0.1×

Where this comes from

Reported directly by Morningstar in its filing.

Tagged under the XBRL concept us-gaap:Depreciation.

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 pitchbook segment — depreciation?
Morningstar (MORN) reported pitchbook segment — depreciation of $7.9M in Q1 2026.
How has Morningstar's pitchbook segment — depreciation changed year-over-year?
Morningstar's pitchbook segment — depreciation increased by 1.3% year-over-year, from $7.8M to $7.9M.
What is the long-term trend for Morningstar's pitchbook segment — depreciation?
Over 4 years (2021 to 2025), Morningstar's pitchbook segment — depreciation has grown at a 13.3% compound annual growth rate (CAGR), from $20.4M to $33.6M.
What does pitchbook segment — depreciation mean?
The systematic allocation of the cost of tangible assets over their useful lives within the segment. This non-cash expense reflects the ongoing capital intensity required to maintain the segment's infrastructure and technology platform.