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Morningstar MORN Operating Income

Operating Income at other companies

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S&P GlobalSPGI
$1.81B+16.8%
VAL
Value LineVALU
$19K-97.7%
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FactSet Research SystemsFDS
$166.3M-14.3%
Moody's logo
Moody'sMCO
$1.05B+27.9%
MSCI logo
MSCIMSCI
$487.5M+14.6%
Blackrock logo
BlackrockBLK
$2.46B+42.2%

Other financials

Income statement

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Revenue$663.2M+9.6%
Gross profit$423.9M+13.2%
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$7.48B-32.8%
Enterprise value$8.91B-23.4%
P/E17.7×-9.8×
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:OperatingIncomeLoss.

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, except per share amounts)Three months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Depreciation and amortization53.548.5105.295.8
Total operating expense509.4480.8999.2948.6
Other operating income6.80.87.70.8
Operating income160.6125.1316.5239.2
Non-operating expense, net:
Interest expense, net(17.1)(7.4)(30.8)(12.8)
Other income (expense), net3.5(1.2)3.1(1.4)
Non-operating expense, net(13.6)(8.6)(27.7)(14.2)

Item 1.Financial Statements

FAQ

What is Morningstar's operating income?
Morningstar (MORN) reported operating income of $160.6M in Q2 2026.
How has Morningstar's operating income changed year-over-year?
Morningstar's operating income increased by 28.4% year-over-year, from $125.1M to $160.6M.
What is the long-term trend for Morningstar's operating income?
Over 4 years (2021 to 2025), Morningstar's operating income has grown at a 19.6% compound annual growth rate (CAGR), from $257M to $526.6M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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