What is Morningstar's net margin?

Morningstar (MORN) reported net margin of 16.1% in Q1 2026.

How has Morningstar's net margin changed year-over-year?

Morningstar's net margin decreased by 3.3% year-over-year, from 16.6% to 16.1%.

What is the long-term trend for Morningstar's net margin?

Over 5 years (2020 to 2025), Morningstar's net margin has grown at a -1.1% compound annual growth rate (CAGR), from 16.2% to 15.3%.

What does net margin mean?

Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.

Morningstar MORN Net margin

Net margin at other companies

S&P GlobalSPGI

30.4%+3.1pp

FactSet Research SystemsFDS

24.5%+0.4pp

Moody'sMCO

31.7%+2.5pp

MSCIMSCI

40.7%+1.7pp

BlackrockBLK

24.4%-5.7pp

Equitable HoldingsEQH

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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

FCF margin17.4%-1.9pp

Returns & leverage

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Return on equity30.7%+5.0pp

Debt / equity1.9×+1.3×

Current ratio1×-0.1×

Where this comes from

Calculated from Morningstar’s reported figures.

net income/total revenue=16.1%

Based on trailing twelve months.

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 net margin?: Morningstar (MORN) reported net margin of 16.1% in Q1 2026.
How has Morningstar's net margin changed year-over-year?: Morningstar's net margin decreased by 3.3% year-over-year, from 16.6% to 16.1%.
What is the long-term trend for Morningstar's net margin?: Over 5 years (2020 to 2025), Morningstar's net margin has grown at a -1.1% compound annual growth rate (CAGR), from 16.2% to 15.3%.
What does net margin mean?: Net income as a percentage of revenue (trailing twelve months). The bottom-line profitability measure after all costs, interest, and taxes.