MORNNasdaqInvestment AdviceFiscal year ends December 31
Morningstar, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 29, 2026
$205.66−1.71 (-0.82%)
Close on Oct 19, 2026
- Market cap
- $7.84B
- P/E (TTM)
- 23.2
- Dividend yield
- 0.88%
Morningstar, Inc. revenue by segment
By business segment
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Morningstar Data and Analytics Segment | $830.60M | $788.10M | $747.20M | $696.60M | $667.50M | – | – | – | – | – | 34.0% | +5.4% |
| PitchBook Segment | $671.80M | $618.40M | $551.90M | $450.70M | $301.60M | – | – | – | – | – | 27.5% | +8.6% |
| Morningstar Credit Segment | $354.40M | $291.10M | $215.40M | $236.90M | $271.20M | – | – | – | – | – | 14.5% | +21.7% |
| Morningstar Wealth Segment | $251.40M | $248.40M | $229.90M | $228.90M | $238.40M | – | – | – | – | – | 10.3% | +1.2% |
| Corporate and Other | $199.70M | $202.00M | $183.70M | $153.50M | $116.00M | – | – | – | – | – | 8.2% | -1.1% |
| Morningstar Retirement Segment | $137.60M | $127.10M | $110.50M | $104.00M | $104.60M | – | – | – | – | – | 5.6% | +8.3% |
By product or service
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Licensed-based Revenue | $1.59B | $1.50B | $1.39B | $1.23B | $1.13B | $934.90M | $812.70M | $751.60M | $667.70M | $579.40M | 65.0% | +6.2% |
| Transaction-based | $377.40M | $308.60M | $232.20M | $269.00M | $302.50M | $230.80M | $154.70M | $67.90M | $61.80M | $55.60M | 15.4% | +22.3% |
| Asset-based | $278.40M | $267.60M | $231.10M | $219.40M | $264.90M | $223.80M | $211.60M | $200.40M | $182.20M | $163.60M | 11.4% | +4.0% |
| Sustainalytics | $112.00M | $117.30M | $118.20M | $103.30M | – | – | – | – | – | – | 4.6% | -4.5% |
| Morningstar Indexes [Member] | $87.70M | $84.70M | $65.50M | $50.20M | – | – | – | – | – | – | 3.6% | +3.5% |
By region
| Revenue | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $1.75B | $1.64B | $1.47B | $1.35B | $1.18B | $970.80M | $866.40M | $764.20M | $687.00M | $590.50M | 71.8% | +7.1% |
| Total International | $690.60M | $636.30M | $568.00M | $516.70M | $515.00M | $418.70M | $312.60M | $255.70M | $224.70M | $208.10M | 28.2% | +8.5% |
| Continental Europe | $219.60M | $203.80M | $185.50M | $162.90M | $159.10M | $113.80M | $88.00M | $81.20M | $69.90M | $62.60M | 9.0% | +7.8% |
| United Kingdom | $189.80M | $167.40M | $148.00M | $133.60M | $135.70M | $117.50M | $93.90M | $72.40M | $64.70M | $61.10M | 7.8% | +13.4% |
| Canada | $154.90M | $140.40M | $116.30M | $109.80M | $112.90M | $101.50M | $56.90M | $30.70M | $29.40M | $28.20M | 6.3% | +10.3% |
| Australia | $65.30M | $62.40M | $58.40M | $55.80M | $56.90M | $45.60M | $39.50M | $40.90M | $34.60M | $32.20M | 2.7% | +4.6% |
| United Kingdom | $48.00M | $49.60M | $49.30M | $44.80M | $41.10M | $33.60M | $27.90M | $24.50M | $21.20M | $20.00M | 2.0% | -3.2% |
| Other | $13.00M | $12.70M | $10.50M | $9.80M | $9.30M | $6.70M | $6.40M | $6.00M | $4.90M | $4.00M | 0.5% | +2.4% |
From the segment and revenue-disaggregation notes of Morningstar's 10-K and 10-Q filings (XBRL). Fourth-quarter figures are the fiscal year less the first nine months. Segment names follow the company's own labels and can change when it reorganizes.