What is Morningstar Inc Quarterly Revenue?

Morningstar Inc Quarterly Revenue Morningstar Inc Jun-2026 Quarterly Revenue is $663 Million which is growth of 9.6% YoY.

What is Morningstar Inc Quarterly Net Profit?

Morningstar Inc Quarterly Net Profit Morningstar Inc Jun-2026 Quarterly Net Profit is $108 Million which is growth of 21.1% YoY.

What is Morningstar Inc Annual Revenue?

Morningstar Inc Annual Revenue Morningstar Inc Dec-2025 Annual Revenue is $2,446 Million which is growth of 7.5% YoY.

What is Morningstar Inc Annual Net Profit?

Morningstar Inc Annual Net Profit Morningstar Inc Dec-2025 Annual Net Profit is $374 Million which is growth of 1.2% YoY.

What is Morningstar Inc Total Shareholders Fund?

Morningstar Inc Total Shareholders Fund Morningstar Inc Dec-2025 Total Shareholders Fund is $1,222 Million which is growth of -24.5% YoY.

What is Morningstar Inc Total Assets?

Morningstar Inc Total Assets Morningstar Inc Dec-2025 Total Assets is $3,590 Million which is growth of 1.2% YoY.

What is Morningstar Inc Book Value Per Share?

Morningstar Inc Book Value Per Share Morningstar Inc Book Value Per Share is $31 which is growth of -18.3% YoY.

What is Morningstar Inc ROE?

Morningstar Inc ROE Morningstar Inc ROE is 0% which is growth of 0% YoY.

What is Morningstar Inc Cash From Operating Activity?

Morningstar Inc Cash From Operating Activity Morningstar Inc Dec-2025 Cash From Operating Activity is $590 Million which is growth of -0.3% YoY.

What is Morningstar Inc Net Cash Flow?

Morningstar Inc Net Cash Flow Morningstar Inc Dec-2025 Net Cash Flow is $-64 Million which is growth of -134.6% YoY.

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Morningstar Inc quarterly and annual earnings report: results, revenue, profit, P&L, balance sheet, cash flow, financial ratios, revenue mix, peer comparison, and financial documents

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Forecaster Analyst Estimates for Morningstar Inc share price target, revenues, EPS, net income and more

Morningstar Inc quarterly results: revenue, profit, and P&L – 13 quarter history

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POSITIVE
Quarterly Revenue Morningstar Inc Jun-2026 Quarterly Revenue is $663 Million which is growth of 9.6% YoY.
POSITIVE
Quarterly Net Profit Morningstar Inc Jun-2026 Quarterly Net Profit is $108 Million which is growth of 21.1% YoY.

Morningstar Inc, Earnings Report - Quarterly Results, standalone, All financials are in USD Million and price data in USD
Indicator	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23	Jun '23
SR_Q Operating Rev.	663.2	644.8	641.1	617.4	605.1	581.9	591	569.4	571.9	542.8	538.7	515.5	504.7
CostOfRevenue_Q Cost Of Rev.	239.3	238.9	249.2	241.7	230.6	231.4	232.2	222.7	222.7	218.1	205.4	202.9	216.4
GrossProfit_Q Gross Profit	423.9	405.9	391.9	375.7	374.5	350.5	358.8	346.7	349.2	324.7	333.3	312.6	288.3
OEXPNS_Q Operating Exp. ⌄	263.3	250	255	247.9	249.4	236.4	254.6	231.2	240.7	232.1	238.9	242.6	246.6
AdminAndSellingExpenses_Q Admin Plus Selling Exp.	216.6	199.2	208.8	201.4	201.7	189.1	206.2	185.5	191.6	184.9	192.4	196	199.6
ResearchAndDevlopmentExpenses_Q RnD Exp.	-	-	-	-	-	-	-	-	-	-	-	-	-
OP_Q Operating Profit	160.6	155.9	136.9	127.8	125.1	114.1	104.2	115.5	108.5	92.6	94.4	70	41.7
NetNonOperIntIncExp_Q Net Non Operations Interest Incuding Expenses ⌄	-17.1	-13.7	-8.8	-7	-7.4	-5.4	-7	-8.9	-10.3	-11.5	-11.5	-12.8	-14.1
Others_Q Other Interest Earned	2	1.9	2.6	2.4	2.9	3.5	3.7	3.2	2.8	2.5	3.1	3	1.7
IntExpNonOperating_Q Interest Exp. Non Operating	19.1	15.6	11.4	9.4	10.3	8.9	10.7	12.1	13.1	14	14.6	15.8	15.8
PBT_Q Profit Before Tax	147	141.8	150.9	123.1	116.5	108.5	162.9	151.9	89.5	87	90.3	57.4	31.7
TAX_Q Tax	38.3	34.6	36.4	31.4	26.3	27.4	33.9	29.6	19.2	21.3	14.1	16.7	-6.2
NICommonStockholders_Q Net Income Common Stockholders ⌄	107.8	107.1	115.1	91.6	89	78.5	116.9	119.7	69.1	64.2	73.5	39.1	36.1
NP_Q Net Profit	107.8	107.1	115.1	91.6	89	78.5	116.9	119.7	69.1	64.2	73.5	39.1	36.1
NIIncludingNoncontrollingInterests_Q Net Income Including Non controlling Interests	107.8	107.1	115.1	91.6	89	78.5	116.9	119.7	69.1	64.2	73.5	39.1	36.1
DilutedNIAvailtoComStockholders_Q Diluted NI Avail to Com Stockholders Ann.	107.8	107.1	115.1	91.6	89	78.5	116.9	119.7	69.1	64.2	73.5	39.1	36.1
EPS_Q Basic EPS	2.9	2.7	2.8	2.2	2.1	1.8	2.7	2.8	1.6	1.5	1.7	0.9	0.9
AfterDilutedEPS_Q Diluted EPS After ExtraOrdinary	3.1	3.2	2.7	2.6	2.4	2.2	2.1	2	2	1.7	2	1.3	1.3
SHARE_Q Number Of Shares End	37.8	39.1	40.4	42.1	42.2	42.8	42.8	42.9	42.8	42.7	42.6	42.7	42.6
NIContinuingDiscontinuedOper_Q Net Income Continuing Discontinued Operations	107.8	107.1	115.1	91.6	89	78.5	116.9	119.7	69.1	64.2	73.5	39.1	36.1
NormalizedIncome_Q Normalized Income	128	115.3	105.7	105.5	101.7	85	78.4	93.6	80.1	70.8	82.4	48.1	47.6
InterestIncome_Q Interest Income	2	1.9	2.6	2.4	2.9	3.5	3.7	3.2	2.8	2.5	3.1	3	1.7
INT_Q Interest	19.1	15.6	11.4	9.4	10.3	8.9	10.7	12.1	13.1	14	14.6	15.8	15.8
NetInterestIncome_Q Net Interest Income	-17.1	-13.7	-8.8	-7	-7.4	-5.4	-7	-8.9	-10.3	-11.5	-11.5	-12.8	-14.1
EBIT_Q EBIT	164.1	155.5	159.7	130.1	123.9	113.9	169.9	160.8	99.8	98.5	101.8	70.2	45.8
EBITDA_Q EBITDA	217.6	207.2	206.8	177.1	172.4	161.2	218.3	206.5	148.9	145.7	148.3	116.8	92.8
ReconciledCostOfRevenue_Q Reconciled Cost Of Rev.	239.3	238.9	249.2	241.7	230.6	231.4	232.2	222.7	222.7	218.1	205.4	202.9	216.4
ReconciledDepreciation_Q Reconciled Depr.	53.5	51.7	47.1	47	48.5	47.3	48.4	45.7	49.1	47.2	46.5	46.6	47
ProfitLossFromContinuingOperations_Q Profit From Continuing Operations	107.8	107.1	115.1	91.6	89	78.5	116.9	119.7	69.1	64.2	73.5	39.1	36.1
NormalizedEBITDA_Q Normalized EBITDA	219.6	209.1	186.7	179.5	173.4	164.4	157.5	163.9	151.5	145.6	150.9	117.9	94.2

*All financials are in USD Million and price data in USD

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Morningstar Inc competitor comparison and performance snapshot within industry

Morningstar Inc annual results: revenue, profit, P&L, and margins as of Dec 2025 – 11 year history

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POSITIVE
Annual Revenue Morningstar Inc Dec-2025 Annual Revenue is $2,446 Million which is growth of 7.5% YoY.
POSITIVE
Annual Net Profit Morningstar Inc Dec-2025 Annual Net Profit is $374 Million which is growth of 1.2% YoY.

Morningstar Inc, Earnings Report - Annual Results, standalone, All financials are in USD Million and price data in USD
Indicator	CAGR 3 Yrs	CAGR 5 Yrs	TTM	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
SR_A Total Rev. Ann. ⌄	9.3%	12%		2,445.5	2,275.1	2,038.6	1,870.6	1,699.3	1,389.5	1,179	1,019.9	911.7	798.6	788.8
TotalOperatingRevenues_A Operating Rev. Ann.	9.3%	12%	2,566.5	2,445.5	2,275.1	2,038.6	1,870.6	1,699.3	1,389.5	1,179	1,019.9	911.7	798.6	788.8
CostOfRevenue_A Cost Of Rev. Ann.	6.9%	11.4%	969.1	952.9	895.7	843.5	779.3	698.4	556.4	483.1	411.1	386.6	344.3	330.1
GrossProfit_A Gross Profit Ann.	11%	12.4%	1,597.4	1,492.6	1,379.4	1,195.1	1,091.3	1,000.9	833.1	695.9	608.8	525.1	454.3	458.7
OEXPNS_A Operating Exp. Ann.	2.3%	9.9%	1,016.2	988.7	958.6	964.5	923.5	743.9	617.9	506.3	393	355.3	273.5	268.1
OP_A Operating Profit Ann.	44.3%	18.5%	581.2	503.9	420.8	230.6	167.8	257	215.2	189.6	215.8	169.8	180.8	190.6
NetNonOperIntIncExp_A Net Non Operations Interest Incuding Expenses Ann, ⌄	-	-	-46.6	-28.6	-37.7	-51.7	-28.4	-8.7	-9.5	-8.7	-1.8	-3.6	0.3	1.3
Others_A Other Interest Earned Ann.	88.6%	48.1%	8.9	11.4	12.2	9	1.7	1.7	1.6	2.4	2.3	1.9	1.8	1.8
IntExpNonOperating_A Interest Exp. Non Operating Ann.	9.9%	29.2%	55.5	40	49.9	60.7	30.1	10.4	11.1	11.1	4.1	5.5	1.5	0.5
OtherExpenses_A Other Exp. Ann.	-	-21.1%		23.7	108.2	2.6	-8.8	2.2	77.3	17.6	18.9	14.9	43.8	1.8
PBT_A PBT Ann.	56.3%	12%	562.8	499	491.3	181.5	130.6	250.5	283	198.5	232.9	181.1	224.9	193.7
TAX_A Tax Ann.	29.1%	15.3%	140.7	121.5	104	33	56.5	62.6	59.7	45.6	47.8	42.9	63.7	62.7
NICommonStockholders_A Net Income Common Stockholders Ann. ⌄	74.4%	10.8%	421.6	374.2	369.9	141.1	70.5	193.3	223.6	152	183	136.9	161	132.6
NP_A Net Profit Ann.	74.4%	10.8%	421.6	374.2	369.9	141.1	70.5	193.3	223.6	152	183	136.9	161	132.6
NIIncludingNoncontrollingInterests_A Net Income Including Non controlling Interests Ann.	74.4%	10.8%	421.6	374.2	369.9	141.1	70.5	193.3	223.6	152	183	136.9	161	132.8
DilutedNIAvailtoComStockholders_A Diluted NI Avail to Com Stockholders Ann.	74.4%	10.8%	421.6	374.2	369.9	141.1	70.5	193.3	223.6	152	183	136.9	161	132.6
EPS_A EPS Ann.	73.6%	11.3%		8.9	8.6	3.3	1.7	4.5	5.2	3.6	4.3	3.2	3.7	3
DilutedEPS_A Diluted EPS Ann.	77.2%	11.3%		8.9	8.6	3.3	1.6	4.5	5.2	3.5	4.3	3.2	3.7	3
SHARE_Q Number Of Shares End	-1.5%	-1.2%		40.4	42.8	42.6	42.3	43	42.9	42.7	42.6	42.4	43	43.9
TotalExpenses_A Total Exp. Ann.	4.5%	10.6%		1,941.6	1,854.3	1,808	1,702.8	1,442.3	1,174.3	989.4	804.1	741.9	617.8	598.2
NIContinuingDiscontinuedOper_A Net Income Continuing Discontinued Operations Ann.	74.4%	10.8%	421.6	374.2	369.9	141.1	70.5	193.3	223.6	152	183	136.9	161	132.6
NormalizedIncome_A Normalized Income Ann.	40.5%	15.4%	454.4	382.5	274.3	181.5	137.9	220.5	187	156.2	190.9	140.1	144.4	144.2
InterestIncome_A Interest Income Ann.	88.6%	48.1%	8.9	11.4	12.2	9	1.7	1.7	1.6	2.4	2.3	1.9	1.8	1.8
INT_A Interest Ann.	9.9%	29.2%	55.5	40	49.9	60.7	30.1	10.4	11.1	11.1	4.1	5.5	1.5	0.5
EBITDA_A EBITDA Ann.	30.1%	10.7%	808.7	717.5	719.4	418.1	325.6	409.9	432	324.9	331.4	275.9	295.3	256.8
ReconciledCostOfRevenue_A Reconciled Cost Of Rev. Ann.	6.9%	11.4%	969.1	952.9	895.7	843.5	779.3	698.4	556.4	483.1	411.1	386.6	344.3	330.1
ReconciledDepreciation_A Reconciled Depr. Ann.	4.5%	6.4%	199.3	189.9	190.4	184.9	166.6	150.7	139.5	117.7	96.7	91.2	70.7	64.4
ProfitLossFromContinuingOperations_A Profit From Continuing Operations Ann.	74.4%	10.8%	421.6	374.2	369.9	141.1	70.5	193.3	223.6	152	183	136.9	161	132.8
NormalizedEBITDA_A Normalized EBITDA Ann.	28.9%	15%	794.9	706.2	618.5	424.2	329.4	405.7	350.6	306.6	316.6	257.9	259.4	258

*All financials are in USD Million and price data in USD

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Total Rev. Ann.

1Y CHG

7.5%

2Y CAGR

9.5%

3Y CAGR

9.3%

5Y CAGR

12%

7Y CAGR

13.3%

10Y CAGR

12%

Total Revenue Annual growth is lower than historical averages.

Net Profit Ann.

1Y CHG

1.2%

2Y CAGR

62.9%

3Y CAGR

74.4%

5Y CAGR

10.8%

7Y CAGR

10.8%

10Y CAGR

10.9%

Net Profit Annual growth is lower than historical averages.

Operating Exp. Ann.

1Y CHG

3.1%

2Y CAGR

1.2%

3Y CAGR

2.3%

5Y CAGR

9.9%

7Y CAGR

14.1%

10Y CAGR

13.9%

Operating Expenses Annual Cr growth is stable compared to historical averages.

Morningstar Inc balance sheet as of Dec 2025: assets, liabilities, reserves, and borrowings – 11 year history

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NEGATIVE
Total Shareholders Fund Morningstar Inc Dec-2025 Total Shareholders Fund is $1,222 Million which is growth of -24.5% YoY.
POSITIVE
Total Assets Morningstar Inc Dec-2025 Total Assets is $3,590 Million which is growth of 1.2% YoY.

Morningstar Inc, Balance Sheet, standalone, All financials are in USD Million and price data in USD
Indicator	CAGR 3 Yrs	CAGR 5 Yrs	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
TA_A Total Assets Ann. ⌄	1.1%	5.9%	3,590.2	3,548.9	3,403.4	3,474.8	2,862.7	2,696	2,370.9	1,453.8	1,405.7	1,350.9	1,029
CA_A Total Current Assets Ann.	8.6%	7.3%	1,038	1,014.1	815.7	810.8	887.6	730	603.2	601.6	529.8	472	409.9
CashEquivalentsShortTermInvestments_A Cash Equivalents and Short Term Investments Ann.	8.4%	2.6%	528.7	551	389	414.6	546.1	464.2	367.5	395.9	353.3	304	248.6
Receivables_A Change In Account Receivables Ann.	9.7%	14.4%	406.6	370.5	344.5	307.9	277.8	207.3	194.8	174	148.2	145.8	139.3
Inventories_A Inventories Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
OtherCurrentAssets_A Other Current Assets Ann.	31.5%	-7.9%	24.8	11.3	5.4	10.9	1.9	37.4	24	16.9	28.3	22.2	22
TotalNonCurrentAssets_A Total Non Current Assets Ann.	-1.4%	5.4%	2,552.2	2,534.8	2,587.7	2,664	1,975.1	1,966	1,767.7	852.2	875.9	878.9	619.1
NetPPE_A Net PPE Ann.	0%	5.2%	390.9	400.1	371.6	391	321	302.8	299.5	143.5	147.4	152.1	134.5
InvestmentsAndAdvances_A Investments & Advances Ann.	-19.4%	9.1%	50.3	85.3	100.2	96	63.3	32.6	59.6	63.1	62	40.3	35.6
OtherNonCurrentAssets_A Other Non Current Assets Ann.	4.8%	-3.4%	12.1	8.8	8.8	10.5	11.7	14.4	11.9	4.7	6.2	8.8	10.6
TotalLiabilitiesNetMinorityInterest_A Total Liabilities Net Minority Interest Ann. ⌄	1.5%	10.7%	2,368.3	1,930.3	2,075.6	2,267.7	1,446.8	1,424.6	1,287.3	519.1	600.8	654.1	388.4
CL_A Total Current Liabilities Ann.	6.1%	10.9%	1,053.3	967.3	880.8	882.5	783.5	626.5	495.8	362.8	323.2	294.9	304.4
PayablesAndAccruedExpenses_A Payables & Accrued Exp.s Ann.	17%	13.6%	121.9	117.8	78.4	76.2	76.5	64.5	58.9	54.4	49.2	44.6	39.2
CurrentDebtCapLeaseObligation_A Current Debt Cap Lease Obligation Ann.	-15.5%	0.9%	41.8	35.1	68.5	69.4	36.4	39.9	46.8	-	-	-	35
CurrentDeferredLiabilities_Q Current Deferred Liabilities	8.8%	13.8%	586.1	540.8	517.7	455.6	377.4	306.8	250.1	195.8	171.3	165.4	140.7
OtherCurrentLiabilities_A Other Current Liabilities Ann.	-46.6%	-27.4%	9.3	1.4	1.8	61.2	19.5	46.1	2.5	3.1	10.7	13.2	8.6
TotalNonCurrentLiabilities_A Total Non Current Liabilities Ann.	-1.7%	10.5%	1,315	963	1,194.8	1,385.2	663.3	798.1	791.5	156.3	277.6	359.2	84
LongTermDebtAndCapitalLeaseObligation_Q LT Debt & Capital Lease Obligation	-0.9%	15.8%	1,219.3	868.9	1,091.7	1,254.2	495.1	586.8	640.8	70	180	250	-
TradeandOtherPayablesNonCurrent_A Trade & Other Payables Non Current Ann.	-	-	13.1	11.7	-	-	-	-	-	-	-	-	-
TotalDeferredCreditsAndOtherNonCurrentLiabilities_A Total Deferred Credits & Other Non Current Liabilities Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
TotalShareHoldersFunds_A Total ShareHolders Funds Ann. ⌄	0.4%	-0.8%	1,221.9	1,618.6	1,327.8	1,207.1	1,415.9	1,271.4	1,083.6	934.7	804.9	696.5	640.3
EQCAP_A Equity Share Capital Ann.	0.4%	-0.8%	1,221.9	1,618.6	1,327.8	1,207.1	1,415.9	1,271.4	1,083.6	934.7	804.9	696.5	640.3
CapitalStock_A Capital Stock Ann.	-	-
RetainedEarnings_A Retained Earnings Ann.	12.9%	9.7%	2,206.2	1,909.2	1,610.8	1,535	1,526.5	1,389.4	1,217.9	1,114.8	958.7	861.9	739.2
GainsLossesNotAffectingRetainedEarnings_A Gains Losses Not Affecting Retained Earnings Ann.	-	-	-68.1	-119.4	-86.5	-99	-35.3	-22	-60.6	-75	-46.6	-81.5	-54.6
TotalCapitalization_A Total Capitalization Ann.	0.1%	5.9%	2,294.5	2,317.2	2,268.1	2,284.6	1,775.3	1,720.5	1,585.7	1,004.7	984.9	946.5	640.3
TangibleAssets_A Tangible Assets Ann.	-	-	-768.2	-352.2	-735.4	-913.2	-119.3	-313.7	-288.9	304.1	144.6	18.8	201.9
WC_A Working Capital Ann.	-	-	-15.3	46.8	-65.1	-71.7	104.1	103.5	107.4	238.8	206.6	177.1	105.5
InvestedCapital_A Invested Capital Ann.	-0.3%	5.9%	2,294.5	2,317.2	2,300.2	2,316.7	1,775.3	1,720.5	1,596.7	1,004.7	984.9	946.5	675.3
TangibleBookValue_A Tangible Book Value Ann.	-	-	-768.2	-352.2	-735.4	-913.2	-119.3	-313.7	-288.9	304.1	144.6	18.8	201.9
Borrowings_A Borrowings Ann.	-1.6%	15%	1,261.1	904	1,160.2	1,323.6	531.5	626.7	687.6	70	180	250	35
NetDebt_A Net Debt Ann.	-6.6%	86.4%	598.1	195.9	634.5	733	-	26.6	179	-	-	-	-
ShareIssued_A Share Issued Ann.	0.3%	0.4%	55	54.9	54.7	54.5	54.3	54	53.7	53.4	53.2	53	52.9
SHARE_Q Number Of Shares End	-1.5%	-1.2%	40.4	42.8	42.6	42.3	43	42.9	42.7	42.6	42.4	43	43.9

*All financials are in USD Million and price data in USD

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Total Assets Ann.

1Y CHG

1.2%

2Y CAGR

2.7%

3Y CAGR

1.1%

5Y CAGR

5.9%

7Y CAGR

13.8%

10Y CAGR

13.3%

Total Assets Annual growth is stable compared to historical averages.

Total Current Liabilities Ann.

1Y CHG

8.9%

2Y CAGR

9.4%

3Y CAGR

6.1%

5Y CAGR

10.9%

7Y CAGR

16.4%

10Y CAGR

13.2%

Total Current Liabilities Annual Cr growth is stable compared to historical averages.

Total ShareHolders Funds Ann.

1Y CHG

-24.5%

2Y CAGR

-4.1%

3Y CAGR

0.4%

5Y CAGR

-0.8%

7Y CAGR

3.9%

10Y CAGR

6.7%

Total ShareHolders Funds Annual is falling faster than historical averages.

Morningstar Inc ROE, ROCE, book value, and debt-to-equity ratio as of Dec 2025 – 11 year history

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NEGATIVE
Book Value Per Share Morningstar Inc Book Value Per Share is $31 which is growth of -18.3% YoY.
NEUTRAL
ROE Morningstar Inc ROE is 0% which is growth of 0% YoY.

Morningstar Inc, Ratios, standalone, All financials are in USD Million and price data in USD
Indicator	CAGR 3 Yrs	CAGR 5 Yrs	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
ROA_A RoA Ann. %	-	-	-	10.64%	4.10%	2.22%	6.95%	8.83%	7.95%	12.80%	9.93%	13.53%	12.95%
ROE_A ROE Ann. %	-	-	-	25.11%	11.13%	5.38%	14.39%	18.99%	15.06%	21.04%	18.24%	24.09%	20.50%
ROIC_Q ROIC %	-	-	-	4.8	3.4	0.5	3	4.2	1.7	4.3	4.1	7.6	5.3
OPMPCT_A OPM Ann. %	32%	5.9%	20.61%	18.50%	11.31%	8.97%	15.12%	15.49%	16.08%	21.16%	18.62%	22.64%	24.16%
NBTO_A Inventory Turnover Ratio Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
ASETTO_A Asset Turnover Ann. %	-	-	-	0.7	0.6	0.6	0.6	0.6	0.6	0.7	0.7	0.7	0.8
WCTO_A Working Capital Turnover Ann.	-	-	-159.8	48.6	-31.3	-26.1	16.3	13.4	11	4.3	4.4	4.5	7.5
QuickRatio_A Quick Ratio Ann.	-	-	-	1	0.8	0.8	1.1	1.1	1.1	1.6	1.6	1.5	1.3
CRATIO_A Current Ratio Ann.	-	-	-	1.1	0.9	0.9	1.1	1.2	1.2	1.7	1.6	1.6	1.4
IC_A Interest Coverage Ratio Ann.	-	-	-	10.9	4	5.3	25.1	26.5	18.9	57.8	33.9	150.9	388.4
LTDE_A LT Debt To Equity Ann.	-	-	-	0.5	0.8	1	0.4	0.5	0.6	0.1	0.2	0.4	-

*All financials are in USD Million and price data in USD

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Morningstar Inc cash flow: net, operating, investing, and financing flows as of Dec 2025 – 11 year history

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NEGATIVE
Cash From Operating Activity Morningstar Inc Dec-2025 Cash From Operating Activity is $590 Million which is growth of -0.3% YoY.
NEGATIVE
Net Cash Flow Morningstar Inc Dec-2025 Net Cash Flow is $-64 Million which is growth of -134.6% YoY.

Morningstar Inc, Cash Flow, standalone, All financials are in USD Million and price data in USD
Indicator	CAGR 3 Yrs	CAGR 5 Yrs	Dec '25	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
CFO_A Cash from Operating Act. Ann. ⌄	25.6%	8.9%	589.7	591.6	316.4	297.8	449.9	384.3	334.4	314.8	250.1	213.7	238.9
ProfitLossFromContinuingOperations_A Profit From Continuing Operations Ann.	74.4%	10.8%	374.2	369.9	141.1	70.5	193.3	223.6	152	183	136.9	161	132.8
DepreciationAmortizationDepletion_A Depreciation Amortization Depletion Ann.	4.5%	6.4%	189.9	190.4	184.9	166.6	150.7	139.5	117.7	96.7	91.2	70.7	64.4
DepreciationAndAmortization_A Depreciation And Amortization Ann.	4.5%	6.4%	189.9	190.4	184.9	166.6	150.7	139.5	117.7	96.7	91.2	70.7	64.4
DeferredTax_A Deferred Tax Ann.	-	-	-42.2	-34.8	-32.4	-37.3	-12.1	-6.7	-6	-1.1	-14.1	4.7	2.9
DeferredIncomeTax_A Deferred Income Tax Ann.	-	-	-42.2	-34.8	-32.4	-37.3	-12.1	-6.7	-6	-1.1	-14.1	4.7	2.9
EmployeesStockOptions_A ESOPs Ann.	-12.2%	9%	56.4	54.7	52.8	83.2	41.9	36.6	44.4	31.7	24.1	14.5	17.4
OtherNonCashItems_A Other Non Cash Items Ann.	-	-	-3.2	2.4	-21.2	19.4	16.9	30.8	1.1	-2.5	1.8	-43.9	-1.1
ChangeInWorkingCapital_A Change In Working Capital Ann.	-	-5.8%	28.9	92.8	28.1	-12	63.6	38.9	41.5	18.5	23.3	5.2	26.4
ChangeInReceivables_A Change In Receivables Ann.	-	-	-26	-30.3	-38.2	-38.6	-67.9	-9.2	11.3	-29.6	-1.2	-0.1	-6.9
ChangeInInventory_A Change In Inventory Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
ChangePayablesAccruedExpense_A Change Payables Accrued Expense Ann.	-	-	1.1	9.6	-1.5	-2	7.1	-9.5	3.2	6	0.7	3.4	4.7
ChangeInOtherCurrentAssets_A Change In Other Current Assets Ann.	-	-	-	-	-	-	-	-	-	13.4	-7.8	1.1	0.7
ChangeInOtherCurrentLiabilities_A Change In Other Current Liabilities Ann.	-	-	-	-	-	-	-	-	-	-1.1	-3.4	4.8	0.5
ChangeInOtherWorkingCapital_A Change In Other Working Capital Ann.	23.4%	-1.4%	53.8	113.5	67.8	28.6	124.4	57.6	27	29.8	35	-4	27.4
CFI_A Cash from Investing Act. Ann. ⌄	-	-	-139.3	-21.3	-81.9	-799.3	-167.7	-123.8	-746.3	-49.9	-60.8	-274.2	-79.5
NetPPEPurchaseAndSale_A Net PPE Purchase & Sale Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
PurchaseOfPPE_A Purchase Of PPE Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
NetBusinessPurchaseAndSale_A Net Business Purchase & Sale Ann.	-	-	-43.1	45.1	21.7	-676.1	-23.7	-32.6	-664.3	18	22.7	-191.6	-11.1
PurchaseOfBusiness_A Purchase Of Business Ann.	-	-	-43.1	-7.3	-4.5	-676.1	-24.8	-67.8	-681.9	-0.4	-1	-191.6	-11.1
PurchaseOfInvestment_A Purchase Of Investment Ann.	-	-	-22.2	-16	-15.7	-36.5	-100.9	-63.1	-37.7	-43.1	-59.7	-48.5	-40.9
SaleOfInvestment_A Sale Of Investment Ann.	1.9%	-0.6%	45.5	27.1	31.1	43	58.8	46.9	35.8	51.2	42.2	28.6	30
NetOtherInvestingChanges_A Net Other Investing Changes Ann.	-	74.6%	27.6	65.2	0.1	-0.2	-0.1	1.7	-0.1	0.1	0.6	0.1	-0.2
CFA_A Cash from Financing Act. Ann. ⌄	-	-	-514.7	-384.4	-278.4	415.1	-211.8	-182.2	373.7	-188.8	-157.5	123.7	-124.9
NetIssuancePaymentsOfDebt_A Net Issuance Payments Of Debt Ann.	-20.7%	-	375	-274.4	-137.5	750.9	-90	-63.4	444.4	-110	-70	215	5
NetLongTermDebtIssuance_A Net Long Term Debt Issuance Ann.	-65.9%	30.5%	25	-259.4	-32.5	630.9	-90	6.6	444.4	-110	-70	190	-
NetShortTermDebtIssuance_A Net ST Debt Issuance Ann.	42.9%	-	350	-15	-105	120		-70	-			25	5
NetCommonStockIssuance_A Net Common Stock Issuance Ann.	-	-	-787	-11.6	-1.4	-226	-1.3	-41.9	-4.9	-20.9	-42.3	-48.8	-97
CommonStockIssuance_A Common Stock Issuance Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
CommonStockPayments_A Common Stock Payments Ann.	-	-	-787	-11.6	-1.4	-226	-1.3	-41.9	-4.9	-20.9	-42.3	-48.8	-97
dividend_1Y_actual Dividend 1year	7.7%	-3.6%	0.5	0.4	0.4	0.4		0.6	1.1	0.5	0.2	0.4	0.2
DividendPerShare_A Dividend Per Share Ann.	8.2%	9.6%	1.9	1.7	1.5	1.5	1.3	1.2	1.1	1	0.9	0.9	0.8
NetOtherFinancingCharges_A Net Other Financing Charges Ann.	-	-	-25.8	-29.1	-75.6	-48.3	-66.5	-27.4	-18.2	-15.4	-6.1	-5	-3.1
CashAndCashEquivalentEndOfYear_A Cash Plus Cash Eqv. End Of Year Ann.	8%	2.3%	474.5	502.7	337.9	376.6	483.8	422.5	334.1	369.3	308.2	259.1	207.1
NetIncDecInCashAndCashEquivalents_A Net Increase In Cash Plus Cash Eqv.s Ann.	-	-	-64.3	185.9	-43.9	-86.4	70.4	78.3	-38.2	76.1	31.8	63.2	34.5
CashAndCashEquivalentBeginOfYear_A Cash Plus Cash Eqv. Begin Of Year Ann.	1.3%	8.5%	502.7	337.9	376.6	483.8	422.5	334.1	369.3	308.2	259.1	207.1	185.2
IncomeTaxPaidSupplementalData_A Income Tax Paid Supplemental Data Ann.	31.6%	24.2%	171.8	115.6	73.2	75.3	80.9	58.2	63.3	67	47.1	58	50.1
InterestPaidSupplementalData_A Interest Paid Supplemental Data Ann.	9.5%	27.4%	37.3	47.4	58.4	28.4	10.4	11.1	11	3.7	5.4	1.2	0.4
CapitalExpenditure_A Capex Ann.	-	-	-147.1	-142.7	-119.1	-129.5	-101.8	-76.7	-80	-76.1	-66.6	-62.8	-57.3
IssuanceOfCapitalStock_A Issuance Of Capital Stock Ann.	-	-	-	-	-	-	-	-	-	-	-	-	-
IssuanceOfDebt_A Issuance Of Debt Ann.	1.5%	23.4%	1,175	90	260	1,125	10	410	610			230	50
RepaymentOfDebt_A Repayment Of Debt Ann.	-	-	-800	-364.4	-397.5	-374.1	-100	-473.4	-165.6	-110	-70	-15	-45
RepurchaseOfCapitalStock_A Repurchase Of Capital Stock Ann.	-	-	-787	-11.6	-1.4	-226	-1.3	-41.9	-4.9	-20.9	-42.3	-48.8	-97
FreeCashFlow_A Free Cash Flow Ann.	38%	7.5%	442.6	448.9	197.3	168.3	348.1	307.6	254.4	238.7	183.5	150.9	181.6

*All financials are in USD Million and price data in USD

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Cash from Operating Act. Ann.

1Y CHG

-0.3%

2Y CAGR

36.5%

3Y CAGR

25.6%

5Y CAGR

8.9%

7Y CAGR

9.4%

10Y CAGR

9.5%

Cash from Operating Activity Annual is falling faster than historical averages.

Forecaster
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Annual
Balance Sheet
Ratios
Cash Flow

44.44% Gain from 52W Low

Morningstar Inc quarterly and annual earnings report: results, revenue, profit, P&L, balance sheet, cash flow, financial ratios, revenue mix, peer comparison, and financial documents

Morningstar Inc - Forecaster

Forecaster Analyst Estimates for Morningstar Inc share price target, revenues, EPS, net income and more

Morningstar Inc - Earnings Report - Quarterly Results

Morningstar Inc quarterly results: revenue, profit, and P&L – 13 quarter history

Quarterly Revenue Morningstar Inc Jun-2026 Quarterly Revenue is $663 Million which is growth of 9.6% YoY.

Quarterly Net Profit Morningstar Inc Jun-2026 Quarterly Net Profit is $108 Million which is growth of 21.1% YoY.

Morningstar Inc - Competitors/Peers

Morningstar Inc competitor comparison and performance snapshot within industry

Morningstar Inc - Earnings Report - Annual Results

Morningstar Inc annual results: revenue, profit, P&L, and margins as of Dec 2025 – 11 year history

Annual Revenue Morningstar Inc Dec-2025 Annual Revenue is $2,446 Million which is growth of 7.5% YoY.

Annual Net Profit Morningstar Inc Dec-2025 Annual Net Profit is $374 Million which is growth of 1.2% YoY.

Morningstar Inc - Balance Sheet

Morningstar Inc balance sheet as of Dec 2025: assets, liabilities, reserves, and borrowings – 11 year history

Total Shareholders Fund Morningstar Inc Dec-2025 Total Shareholders Fund is $1,222 Million which is growth of -24.5% YoY.

Total Assets Morningstar Inc Dec-2025 Total Assets is $3,590 Million which is growth of 1.2% YoY.

Morningstar Inc - Ratios

Morningstar Inc ROE, ROCE, book value, and debt-to-equity ratio as of Dec 2025 – 11 year history

Book Value Per Share Morningstar Inc Book Value Per Share is $31 which is growth of -18.3% YoY.

ROE Morningstar Inc ROE is 0% which is growth of 0% YoY.

Morningstar Inc - Cash Flow

Morningstar Inc cash flow: net, operating, investing, and financing flows as of Dec 2025 – 11 year history

Cash From Operating Activity Morningstar Inc Dec-2025 Cash From Operating Activity is $590 Million which is growth of -0.3% YoY.

Net Cash Flow Morningstar Inc Dec-2025 Net Cash Flow is $-64 Million which is growth of -134.6% YoY.