What are Morningstar's profit margins?

Morningstar (MORN) runs a 61.7% gross margin and a 22.7% operating margin, with a 16.1% net margin.

Where do Morningstar's ratios come from?

Every ratio is computed from Morningstar's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.

Morningstar MORN Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	61%+0.4pp	60.6%+2.0pp	58.6%+0.3pp	58.3%-0.6pp
Operating margin	21.5%+0.2pp	21.3%+10.0pp	11.3%+2.3pp	9%-6.2pp
Net margin	15.3%-1.0pp	16.3%+9.3pp	6.9%+3.2pp	3.8%-7.6pp
EBITDA margin	29.3%-0.4pp	29.7%+9.3pp	20.4%+2.5pp	17.9%-6.1pp
Free cash flow margin	18.1%-1.6pp	19.7%+10.1pp	9.7%+0.7pp	9%-11.5pp
Returns
Return on equity	26.3%+1.2pp	25.1%+14.0pp	11.1%+5.8pp	5.4%-9.0pp
Return on assets	10.5%-0.2pp	10.6%+6.5pp	4.1%+1.9pp	2.2%-4.7pp
Return on invested capital	19.8%+1.6pp	18.2%+9.6pp	8.6%+3.4pp	5.2%-7.9pp
Efficiency
Asset turnover	0.7×0.0×	0.7×+0.1×	0.6×0.0×	0.6×0.0×
Liquidity
Current ratio	1×-0.1×	1×+0.1×	0.9×0.0×	0.9×-0.2×
Quick ratio	1×-0.1×	1×+0.1×	0.9×0.0×	0.9×-0.2×
Cash ratio	0.5×-0.1×	0.5×+0.1×	0.4×0.0×	0.4×-0.2×
Leverage
Debt-to-equity	1×+0.5×	0.6×-0.3×	0.9×-0.2×	1.1×+0.7×
Debt-to-assets	0.4×+0.1×	0.3×-0.1×	0.4×0.0×	0.4×+0.2×
Net debt / EBITDA	1.1×+0.5×	0.6×-1.5×	2.1×-0.9×	2.9×+2.8×
Per Share
Book value per share	$28.96-22.9%	$37.55+21.3%	$30.95+10.0%	$28.14-13.8%
Valuation
Market capitalization	$8.94B-38.1%	$14.44B+18.2%	$12.22B+32.9%	$9.19B-37.6%
Enterprise value	$9.72B-34.5%	$14.84B+13.5%	$13.08B+28.6%	$10.17B-31.2%
Price / earnings	23.9×-15.2×	39×-47.6×	86.6×-43.8×	130.4×+54.2×
Price / sales	3.7×-2.7×	6.3×+0.4×	6×+1.1×	4.9×-3.8×
Price / book	7.3×-1.6×	8.9×-0.3×	9.2×+1.6×	7.6×-2.8×
EV / EBITDA	13.6×-8.4×	22×-9.5×	31.5×+1.1×	30.4×-5.8×
EV / sales	4×-2.5×	6.5×+0.1×	6.4×+1.0×	5.4×-3.3×
Free cash flow yield	5%+1.8pp	3.1%+1.5pp	1.6%-0.2pp	1.8%-0.5pp
Earnings yield	4.2%+1.6pp	2.6%+1.4pp	1.2%+0.4pp	0.8%-0.5pp
Dividend yield	0.9%+0.4pp	0.5%0.0pp	0.5%-0.1pp	0.7%+0.3pp
PEG ratio	20.5×+20.3×	0.2×-0.6×	0.9×—	——

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Questions, answered.

What are Morningstar's profit margins?: Morningstar (MORN) runs a 61.7% gross margin and a 22.7% operating margin, with a 16.1% net margin.
Where do Morningstar's ratios come from?: Every ratio is computed from Morningstar's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.