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Morningstar MORN Unrecognized Tax Benefits

Unrecognized Tax Benefits at other companies

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BlackrockBLK
$511M-1.2%
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$0—
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$325K—
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Morgan StanleyMS
$1.52B+16.3%
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Community Financial SystemCBU
$2.47M0.0%
APA
Artisan Partners Asset Management Inc.APAM
$1.8M0.0%

Other financials

Income statement

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Revenue$663.2M+9.6%
Gross profit$423.9M+13.2%
Operating income$160.6M+28.4%
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$7.53B-30.1%
Enterprise value$8.96B-20.7%
P/E17.9×-8.8×
P/S2.9×-1.7×

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:UnrecognizedTaxBenefits.

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)As of June 30, 2026As of December 31, 2025
Gross unrecognized tax benefits$13.4$12.3
Gross unrecognized tax benefits that would affect income tax expense$13.4$12.3
Decrease in income tax expense upon recognition of gross unrecognized tax benefits$13.0$11.9

Item 1.Financial Statements

FAQ

What is Morningstar's unrecognized tax benefits?
Morningstar (MORN) reported unrecognized tax benefits of $13.4M in Q2 2026.
How has Morningstar's unrecognized tax benefits changed year-over-year?
Morningstar's unrecognized tax benefits increased by 8.9% year-over-year, from $12.3M to $13.4M.
What is the long-term trend for Morningstar's unrecognized tax benefits?
Over 5 years (2020 to 2025), Morningstar's unrecognized tax benefits has grown at a 0.8% compound annual growth rate (CAGR), from $11.8M to $12.3M.
What does unrecognized tax benefits mean?
This represents the amount of tax benefits from uncertain tax positions that have not been recognized in the financial statements because they do not meet the 'more-likely-than-not' threshold. It reflects the company's exposure to potential tax audits and disputes with tax authorities. This is a key indicator of tax-related legal and financial risk.

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