Morningstar MORN Business Segments
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Consolidated revenue by Business | |||||
| Morningstar Credit Segment | $293M+0.7% | $291.1M+35.1% | $215.4M-9.1% | $236.9M-12.6% | |
| Morningstar Data and Analytics Segment | $830.6M+5.4% | $788.1M+5.5% | $747.2M+7.3% | $696.6M+4.4% | |
| Morningstar Retirement Segment | $137.6M+8.3% | $127.1M+15.0% | $110.5M+6.3% | $104M-0.6% | |
| Morningstar Wealth Segment | $312.8M+25.9% | $248.4M+8.0% | $229.9M+0.4% | $228.9M-4.0% | |
| PitchBook Segment | $671.8M+8.6% | $618.4M+12.0% | $551.9M+22.5% | $450.7M+49.4% | |
| Consolidated revenue by Product | |||||
| Asset-based | $343M+2.9% | $333.2M+19.2% | $279.6M+3.8% | $269.4M+1.7% | |
| License-based | $1.72B+5.8% | $1.63B+7.1% | $1.52B+14.0% | $1.33B+17.7% | |
| Transaction-based | $383.3M+21.0% | $316.8M+31.2% | $241.5M-10.4% | $269.5M-11.0% | |
| Revenue by Geography | |||||
| Australia | $65.3M+4.6% | $62.4M+6.8% | $58.4M+4.7% | $55.8M-1.9% | |
| Canada | $154.9M+10.3% | $140.4M+20.7% | $116.3M+5.9% | $109.8M-2.7% | |
| Continental Europe | $219.6M+7.8% | $203.8M+9.9% | $185.5M+13.9% | $162.9M+2.4% | |
| GB | $189.8M+13.4% | $167.4M+13.1% | $148M+10.8% | $133.6M-1.5% | |
| Other | $13M+2.4% | $12.7M+21.0% | $10.5M+7.1% | $9.8M+5.4% | |
| United Kingdom | $48M-3.2% | $49.6M+0.6% | $49.3M+10.0% | $44.8M+9.0% | |
| United States | $1.75B+7.1% | $1.64B+11.4% | $1.47B+8.6% | $1.35B+14.3% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Morningstar break its business down?
- Morningstar (MORN) reports consolidated revenue by business across 5 parts — Morningstar Credit Segment, Morningstar Data and Analytics Segment, Morningstar Retirement Segment, Morningstar Wealth Segment and PitchBook Segment. Each is extracted from the segment footnotes and tracked over time.
- Where does Morningstar's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Morningstar's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
