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 | Q2 26 | Q1 26 | Q4 25 | Q3 25 | Q2 25 | Q1 25 | Q4 24 | Q3 24 | Q2 24 | Q1 24 | Q4 23 | Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Morningstar Data and Analytics Segment | $222.10M | $215.20M | $211.10M | $211.10M | $209.20M | $199.20M | $196.00M | $198.50M | $196.90M | $196.70M | $192.70M | $188.70M | 33.5% | +6.2% |
| PitchBook Segment | $174.70M | $172.40M | $172.60M | $169.00M | $166.50M | $163.70M | $162.50M | $156.60M | $151.70M | $147.60M | $144.40M | $139.60M | 26.3% | +4.9% |
| Morningstar Wealth Segment | $104.90M | $101.00M | $63.70M | $91.10M | $85.00M | $73.00M | $39.60M | $70.90M | $77.60M | $60.30M | $61.20M | $58.00M | 15.8% | +23.4% |
| Corporate and Other | $63.30M | $59.40M | $50.30M | $49.90M | $47.70M | $51.80M | $51.60M | $49.80M | $49.80M | $50.80M | $48.70M | $48.60M | 9.5% | +32.7% |
| Morningstar Credit Segment | $60.30M | $58.00M | $105.30M | $62.10M | $64.30M | $61.30M | $107.70M | $61.80M | $62.60M | $59.00M | $61.50M | $52.90M | 9.1% | -6.2% |
| Morningstar Retirement Segment | $37.90M | $38.80M | $38.10M | $34.20M | $32.40M | $32.90M | $33.60M | $31.80M | $33.30M | $28.40M | $30.20M | $27.70M | 5.7% | +17.0% |
| Asset and Index Solutions Segment | – | – | – | – | – | – | – | – | – | – | – | $103.20M | – | – |
| Credit Ratings and Solutions Segment | – | – | – | – | – | – | – | – | – | – | – | $52.90M | – | – |
| Data and Analytics Segment | – | – | – | – | – | – | – | – | – | – | – | $359.40M | – | – |
By product or service
| Revenue | Q2 26 | Q1 26 | Q4 25 | Q3 25 | Q2 25 | Q1 25 | Q4 24 | Q3 24 | Q2 24 | Q1 24 | Q4 23 | Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Licensed-based Revenue | $455.10M | $444.90M | $308.60M | $435.00M | $428.40M | $418.00M | $286.20M | $408.80M | $401.70M | $400.20M | $267.10M | $384.50M | 68.6% | +6.2% |
| Transaction-based | $111.20M | $104.40M | $111.90M | $96.40M | $92.70M | $76.40M | $87.30M | $74.70M | $83.60M | $63.00M | $67.50M | $56.50M | 16.8% | +20.0% |
| Asset-based | $96.80M | $95.10M | $25.60M | $84.70M | $82.40M | $85.70M | $22.10M | $83.80M | $84.70M | $77.00M | $27.00M | $71.50M | 14.6% | +17.5% |
| Morningstar Indexes [Member] | $37.80M | $32.80M | $22.50M | $21.80M | $20.40M | $23.00M | $22.20M | $21.90M | $20.60M | $20.00M | $18.30M | $17.60M | 5.7% | +85.3% |
| Sustainalytics | $25.50M | $26.60M | $27.80M | $28.10M | $27.30M | $28.80M | $29.40M | $27.90M | $29.20M | $30.80M | $30.40M | $31.00M | 3.8% | -6.6% |
By region
| Revenue | Q2 26 | Q1 26 | Q4 25 | Q3 25 | Q2 25 | Q1 25 | Q4 24 | Q3 24 | Q2 24 | Q1 24 | Q4 23 | Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $479.10M | $462.00M | $458.10M | $440.70M | $431.60M | $424.50M | $426.30M | $411.30M | $410.30M | $390.90M | $387.10M | $370.70M | 72.2% | +11.0% |
| Total International | $184.10M | $182.80M | $183.00M | $176.70M | $173.50M | $157.40M | $164.70M | $158.10M | $161.60M | $151.90M | $151.60M | $144.80M | 27.8% | +6.1% |
| Continental Europe | $55.00M | $57.00M | $58.90M | $55.10M | $55.00M | $50.60M | $52.40M | $51.60M | $50.10M | $49.70M | $49.50M | $47.30M | 8.3% | 0.0% |
| United Kingdom | $47.30M | $49.20M | $49.70M | $48.20M | $48.20M | $43.70M | $44.40M | $42.10M | $42.00M | $38.90M | $41.80M | $38.40M | 7.1% | -1.9% |
| Canada | $46.60M | $42.70M | $42.20M | $41.00M | $38.60M | $33.10M | $37.00M | $33.00M | $37.80M | $32.60M | $30.10M | $28.80M | 7.0% | +20.7% |
| Australia | $19.40M | $18.10M | $17.30M | $16.70M | $16.20M | $15.10M | $15.40M | $16.30M | $15.70M | $15.00M | $14.90M | $14.50M | 2.9% | +19.8% |
| United Kingdom | $12.10M | $11.80M | $11.50M | $12.40M | $12.20M | $11.90M | $12.00M | $11.90M | $13.00M | $12.70M | $12.60M | $13.00M | 1.8% | -0.8% |
| Other | $3.70M | $4.00M | $3.40M | $3.30M | $3.30M | $3.00M | $3.50M | $3.20M | $3.00M | $3.00M | $2.70M | $2.80M | 0.6% | +12.1% |
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.