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
Returns
Return on equity	26.3%+1.2pp	25.1%+14.0pp	11.1%+5.8pp	5.4%-9.0pp
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×
Leverage
Debt-to-equity	1×+0.5×	0.6×-0.3×	0.9×-0.2×	1.1×+0.7×
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%
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×
Dividend yield	0.9%+0.4pp	0.5%0.0pp	0.5%-0.1pp	0.7%+0.3pp

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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.