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 | TTM Q2 26 | TTM Q1 26 | TTM Q4 25 | TTM Q3 25 | TTM Q2 25 | TTM Q1 25 | TTM Q4 24 | TTM Q3 24 | TTM Q2 24 | TTM Q1 24 | TTM Q4 23 | TTM Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Morningstar Data and Analytics Segment | $859.50M | $846.60M | $830.60M | $815.50M | $802.90M | $790.60M | $788.10M | $784.80M | $775.00M | $764.10M | $747.20M | – | 33.5% | +7.0% |
| PitchBook Segment | $688.70M | $680.50M | $671.80M | $661.70M | $649.30M | $634.50M | $618.40M | $600.30M | $583.30M | $568.40M | $551.90M | – | 26.8% | +6.1% |
| Morningstar Wealth Segment | $360.70M | $340.80M | $251.40M | $288.70M | $268.50M | $261.10M | $248.40M | $270.00M | $257.10M | $235.30M | $229.90M | – | 14.1% | +34.3% |
| Morningstar Credit Segment | $285.70M | $289.70M | $354.40M | $295.40M | $295.10M | $293.40M | $291.10M | $244.90M | $236.00M | $227.60M | $215.40M | – | 11.1% | -3.2% |
| Corporate and Other | $222.90M | $207.30M | $199.70M | $201.00M | $200.90M | $203.00M | $202.00M | $199.10M | $197.90M | $192.60M | $183.70M | – | 8.7% | +11.0% |
| Morningstar Retirement Segment | $149.00M | $143.50M | $137.60M | $133.10M | $130.70M | $131.60M | $127.10M | $123.70M | $119.60M | $113.70M | $110.50M | – | 5.8% | +14.0% |
By product or service
| Revenue | TTM Q2 26 | TTM Q1 26 | TTM Q4 25 | TTM Q3 25 | TTM Q2 25 | TTM Q1 25 | TTM Q4 24 | TTM Q3 24 | TTM Q2 24 | TTM Q1 24 | TTM Q4 23 | TTM Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Licensed-based Revenue | $1.64B | $1.62B | $1.59B | $1.57B | $1.54B | $1.51B | $1.50B | $1.48B | $1.45B | $1.43B | $1.39B | $1.37B | 64.0% | +6.6% |
| Transaction-based | $423.90M | $405.40M | $377.40M | $352.80M | $331.10M | $322.00M | $308.60M | $288.80M | $270.60M | $246.30M | $232.20M | $223.50M | 16.5% | +28.0% |
| Asset-based | $302.20M | $287.80M | $278.40M | $274.90M | $274.00M | $276.30M | $267.60M | $272.50M | $260.20M | $242.80M | $231.10M | $220.10M | 11.8% | +10.3% |
| Morningstar Indexes [Member] | $114.90M | $97.50M | $87.70M | $87.40M | $87.50M | $87.70M | $84.70M | $80.80M | $76.50M | $71.00M | $65.50M | – | 4.5% | +31.3% |
| Sustainalytics | $108.00M | $109.80M | $112.00M | $113.60M | $113.40M | $115.30M | $117.30M | $118.30M | $121.40M | $121.60M | $118.20M | – | 4.2% | -4.8% |
By region
| Revenue | TTM Q2 26 | TTM Q1 26 | TTM Q4 25 | TTM Q3 25 | TTM Q2 25 | TTM Q1 25 | TTM Q4 24 | TTM Q3 24 | TTM Q2 24 | TTM Q1 24 | TTM Q4 23 | TTM Q3 23 | % of revenue | YoY |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| United States | $1.84B | $1.79B | $1.75B | $1.72B | $1.69B | $1.67B | $1.64B | $1.60B | $1.56B | $1.51B | $1.47B | $1.43B | 71.7% | +8.6% |
| Total International | $726.60M | $716.00M | $690.60M | $672.30M | $653.70M | $641.80M | $636.30M | $623.20M | $609.90M | $587.50M | $568.00M | $544.70M | 28.3% | +11.2% |
| Continental Europe | $226.00M | $226.00M | $219.60M | $213.10M | $209.60M | $204.70M | $203.80M | $200.90M | $196.60M | $192.10M | $185.50M | $177.30M | 8.8% | +7.8% |
| United Kingdom | $194.40M | $195.30M | $189.80M | $184.50M | $178.40M | $172.20M | $167.40M | $164.80M | $161.10M | $153.80M | $148.00M | $140.20M | 7.6% | +9.0% |
| Canada | $172.50M | $164.50M | $154.90M | $149.70M | $141.70M | $140.90M | $140.40M | $133.50M | $129.30M | $121.60M | $116.30M | $112.20M | 6.7% | +21.7% |
| Australia | $71.50M | $68.30M | $65.30M | $63.40M | $63.00M | $62.50M | $62.40M | $61.90M | $60.10M | $59.00M | $58.40M | $57.00M | 2.8% | +13.5% |
| United Kingdom | $47.80M | $47.90M | $48.00M | $48.50M | $48.00M | $48.80M | $49.60M | $50.20M | $51.30M | $49.90M | $49.30M | $48.00M | 1.9% | -0.4% |
| Other | $14.40M | $14.00M | $13.00M | $13.10M | $13.00M | $12.70M | $12.70M | $11.90M | $11.50M | $11.10M | $10.50M | $10.00M | 0.6% | +10.8% |
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.