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Morningstar MORN Total Cost of Revenue

Total Cost of Revenue at other companies

S&P Global logo
S&P GlobalSPGI
$1.24B+7.1%
FactSet Research Systems logo
FactSet Research SystemsFDS
$296.74M+10.1%
Moody's logo
Moody'sMCO
$531M+8.1%
MSCI logo
MSCIMSCI
$141.8M+3.7%

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
Net margin16.1%-0.5pp
FCF margin17.4%-1.9pp

Returns & leverage

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Return on equity30.7%+5.0pp
Debt / equity1.9×+1.3×
Current ratio-0.1×

Where this comes from

Reported directly by Morningstar in its filing.

Tagged under the XBRL concept us-gaap:CostOfGoodsAndServicesSold.

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 total cost of revenue?
Morningstar (MORN) reported total cost of revenue of $238.9M in Q1 2026.
How has Morningstar's total cost of revenue changed year-over-year?
Morningstar's total cost of revenue increased by 3.2% year-over-year, from $231.4M to $238.9M.
What is the long-term trend for Morningstar's total cost of revenue?
Over 4 years (2021 to 2025), Morningstar's total cost of revenue has grown at a 8.1% compound annual growth rate (CAGR), from $698.4M to $952.9M.
What does total cost of revenue mean?
The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.