Morningstar, Inc.

MORN

Morningstar, Inc.

MORN

Insider Sentiment (TTM):

Last Purchase:2026-03-04Last Sale:2026-05-27Shares Purchased (TTM):1,000Shares Sold (TTM):137,400

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:22,861,290Shares Outstanding:39,100,000Institutional Ownership Pct.:58.47%

Earnings Market Reaction:

Filing Date:2026-07-29Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	490	493	475	474	504	512	503	553	391	354	338	325
Marketable Securities Current	34	39	54	40	38	48	48	49	48	55	51	39
Accounts Receivable Net Current	383	403	390	364	384	342	358	328	336	326	344	298
Income Taxes Receivable	13	15	16	13	18	9	12	0	0	0	1	9
Capitalized Contract Cost Net Current	34	37	35	35	39	37	39	41	41	42	42	42
Prepaid Expense Current	57	57	43	42	49	54	42	44	45	49	35	41
Other Assets Current	25	20	25	11	11	11	11	8	14	5	5	5
Assets Current	1,035	1,063	1,038	979	1,042	1,012	1,014	1,023	876	831	816	758
Goodwill	1,746	1,747	1,611	1,615	1,618	1,601	1,562	1,580	1,570	1,574	1,579	1,569
Finite Lived Intangible Assets Net	569	591	379	396	413	420	409	433	443	463	484	495
Property Plant And Equipment Net	240	235	232	226	226	222	219	212	210	211	208	204
Operating Lease Right Of Use Asset	165	166	159	164	165	172	181	158	148	157	164	163
Investments In Affiliates Subsidiaries Associates …	50	50	50	72	77	76	85	96	97	96	100	105
Deferred Income Tax Assets Net	91	86	79	66	52	46	43	31	24	20	15	10
Capitalized Contract Cost Net Noncurrent	29	30	30	30	29	28	27	28	28	30	29	30
Other Assets Noncurrent	22	18	12	10	9	9	9	7	7	8	9	9
Assets	3,946	3,986	3,590	3,558	3,631	3,586	3,549	3,566	3,404	3,389	3,403	3,344
Liabilities And Stockhold…
Liabilities Current
Deferred Revenue Current	628	669	586	564	594	595	541	540	548	565	518	487
Employee Related Liabilities Current	181	145	294	231	180	133	272	216	166	123	214	181
Short Term Borrowings	18	18	-	-	-	-	-	0	0	32	-	32
Operating Lease Liability Current	42	43	42	40	39	38	35	32	32	35	36	36
Debt Current	-	-	-	-	-	-	0	-	-	-	32	-
Taxes Payable Current	15	43	24	10	8	47	31	-	-	-	0	-
Business Combination Contingent Consideration Liab…	-	-	-	-	-	-	-	-	-	-	0	0
Other Liabilities Current	4	8	9	11	10	7	1	28	14	20	2	4
Liabilities Current	980	1,031	1,053	946	921	912	967	896	837	847	881	810
Operating Lease Liability Noncurrent	150	151	147	154	156	162	170	146	137	144	151	149
Deferred Income Tax Liabilities Net	22	22	27	27	30	30	28	30	30	33	36	52
Line Of Credit	-	-	1,073	-	-	-	699	-	-	-	940	-
Contract With Customer Liability Noncurrent	-	-	21	-	-	-	22	-	-	-	26	-
Long Term Debt	1,695	1,695	-	849	839	804	-	865	900	917	-	1,023
Deferred Revenue Noncurrent	19	21	-	21	22	22	-	23	24	25	-	28
Taxes Payable Current And Noncurrent	14	14	13	14	13	13	12	-	-	-	8	-
Other Liabilities Noncurrent	21	14	14	14	14	13	11	20	19	18	9	15
Liabilities	2,922	2,968	2,368	2,044	2,016	1,977	1,930	2,001	1,970	2,006	2,076	2,100
Stockholders Equity Inclu…
Stockholders Equity
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Treasury Stock Value	-2,189	-2,089	-1,786	-1,387	-1,216	-1,105	-994	-982	-984	-986	-986	-986
Additional Paid In Capital Common Stock	915	893	870	861	853	848	823	810	807	808	789	783
Retained Earnings Accumulated Deficit	2,383	2,294	2,206	2,111	2,038	1,968	1,909	1,812	1,709	1,658	1,611	1,555
Accumulated Other Compreh…
Accumulated Other Comprehensive Income Loss Foreig…	-86	-79	-68	-71	-61	-102	-119	-74	-98	-97	-86	-107
Accumulated Other Comprehensive Income Loss Availa…	0	-	0	0	0	-0	-0	-0	-0	-0	-0	-0
Accumulated Other Comprehensive Income Loss Net Of…	-86	-79	-68	-71	-61	-102	-119	-74	-99	-97	-87	-107
Stockholders Equity	1,024	1,019	1,222	1,514	1,615	1,609	1,619	1,566	1,434	1,383	1,328	1,244
Liabilities And Stockholders Equity	3,946	3,986	3,590	3,558	3,631	3,586	3,549	3,566	3,404	3,389	3,403	3,344
Allowance For Doubtful Accounts Receivable Current	7	7	7	6	7	9	7	8	8	6	6	6
Accumulated Depreciation Depletion And Amortizatio…	963	930	-	822	822	822	-	790	759	741	-	691
Common Stock No Par Value	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	200	200	200	200	200	200	200	200	200	200	200	200
Shares Outstanding	38	38	40	42	42	43	43	43	43	43	43	43
Treasury Stock Common Shares	18	17	15	13	13	12	12	12	12	12	12	12

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-4.24%	-18.08%	-7.78%	-	-	-	-	-	-	-	-	-
2025	7.40%	6.16%	2.05%	-4.57%	-14.94%	-22.25%	-0.74%	0.46%	-0.01%	18.82%	8.37%	5.94%
2024	4.71%	-0.81%	6.87%	-3.06%	-4.81%	4.35%	1.32%	5.92%	-5.05%	-4.97%	-11.51%	-1.20%
2023	-	-	-	-	-	-	9.05%	9.79%	5.85%	1.74%	-0.08%	0.53%
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Performance and Valuation Metrics

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Metrics	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30
Liquidity Ratios
Current Ratio	1.06	1.03	0.99	1.04	1.13	1.11	1.05	1.14	1.05	0.98	0.93	0.94
Quick Ratio	1.00	0.98	0.95	0.99	1.08	1.05	1.00	1.09	0.99	0.92	0.89	0.89
Working Capital	54.60M	32.60M	-15.30M	33.70M	121.30M	100.00M	46.80M	126.90M	38.40M	-16.20M	-65.10M	-51.30M
Leverage & Debt
Debt to Equity	2.85	2.91	1.94	1.35	1.25	1.23	1.19	1.28	1.37	1.45	1.56	1.69
Interest Coverage TTM	12.96	15.40	18.41	19.97	18.22	16.02	12.86	9.74	7.93	5.99	4.46	3.35
Debt Ratio	0.74	0.74	0.66	0.57	0.56	0.55	0.54	0.56	0.58	0.59	0.61	0.63
Efficiency & Turnover
Asset Turnover TTM	0.68	0.66	0.69	0.67	0.67	0.66	0.65	0.64	0.63	0.61	0.59	0.58
Days Sales Outstanding TTM	54.53	54.18	55.86	52.74	56.01	52.70	56.31	51.43	55.38	54.19	58.35	53.83
Receivables Turnover TTM	6.69	6.74	6.53	6.92	6.52	6.93	6.48	7.10	6.59	6.74	6.26	6.78
Per Share Metrics
Diluted EPS TTM	11.07	10.25	8.87	8.89	9.51	8.91	8.58	7.56	5.71	4.95	3.29	1.65
Free Cash Flow Per Share TTM	13.16	11.19	10.56	9.36	9.24	10.47	10.49	10.35	9.10	6.16	4.63	3.67
Dividend Per Share TTM	2.04	1.98	1.84	1.79	1.74	1.67	1.62	1.59	1.56	1.53	1.50	1.48
Margin Metrics
Gross Profit Margin TTM	62.24%	61.71%	61.03%	60.93%	60.94%	60.72%	60.63%	60.91%	60.85%	59.90%	58.62%	57.82%
Operating Profit Margin TTM	23.53%	22.66%	21.53%	22.34%	22.28%	21.88%	21.31%	18.49%	16.85%	14.21%	11.31%	8.69%
Net Profit Margin TTM	16.43%	16.06%	15.30%	15.70%	17.21%	16.60%	16.26%	14.69%	11.34%	10.13%	6.92%	3.59%
Growth Metrics
Net Revenue Growth (1Y)	9.33%	8.39%	7.49%	7.76%	8.23%	10.11%	11.60%	12.55%	12.52%	11.01%	8.98%	6.30%
Net Income Growth (1Y)	4.33%	4.84%	1.16%	15.16%	64.34%	80.46%	162.15%	360.51%	978.51%	1,167.26%	100.14%	-42.68%
EPS Growth (1Y)	16.47%	14.76%	3.34%	17.35%	66.67%	80.04%	160.93%	358.36%	973.47%	1,161.33%	100.14%	-42.95%
Valuation Metrics
P/E TTM	13.95	16.31	24.13	25.71	32.40	32.96	38.39	41.26	50.61	60.70	84.69	138.03
P/B TTM	5.74	6.45	7.39	6.39	8.11	7.87	8.77	8.60	8.68	9.34	9.00	7.87
P/S TTM	2.29	2.62	3.69	4.04	5.58	5.47	6.24	6.06	5.74	6.15	5.86	4.96
Market Cap	5.88B	6.57B	9.03B	9.67B	13.09B	12.66B	14.20B	13.47B	12.44B	12.92B	11.95B	9.79B
Enterprise Value	7.10B	7.79B	8.56B	10.04B	13.43B	12.96B	13.70B	13.78B	12.95B	13.52B	11.64B	10.52B
Calculated Values
Free Cash Flow TTM	497.50M	437.40M	442.60M	394.10M	389.80M	448.20M	448.90M	443.90M	389.50M	262.90M	197.30M	156.90M
Net Debt	1.22B	1.22B	-474.50M	374.70M	335.30M	292.20M	-502.70M	311.80M	508.40M	595.70M	-305.80M	730.50M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
NCAV
NCAV Per Share TTM
Valuation Ratios
P/CF TTM
PEG Ratio
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
EV Revenue TTM
EV FCF TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-05-27Sale

Owner: Lyons, William M

Title: -

Shares: 700

Price/Share: $179.00

Value: $125,300.00

Shares Owned: 13,904

Relationship: Director

Ownership: Direct

2026-05-22Sale

Owner: Mansueto, Joseph D

Title: Executive Chairman

Shares: 2,270

Price/Share: $176.73

Value: $401,177.10

Shares Owned: 8,043,492

Relationship: Director,Officer,TenPercentOwner

Ownership: Direct

2026-05-20Sale

Owner: Mansueto, Joseph D

Title: Executive Chairman

Shares: 7,250

Price/Share: $172.25

Value: $1,248,812.50

Shares Owned: 8,053,012

Relationship: Director,Officer,TenPercentOwner

Ownership: Direct

2026-05-15Sale

Owner: Holt, Michael

Title: Chief Financial Officer

Shares: 270

Price/Share: $166.05

Value: $44,833.50

Shares Owned: 12,326

Relationship: Officer

Ownership: Direct

2026-05-15Sale

Owner: Mansueto, Joseph D

Title: Executive Chairman

Shares: 7,250

Price/Share: $169.59

Value: $1,229,527.50

Shares Owned: 8,074,240

Relationship: Director,Officer,TenPercentOwner

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-05-27	Lyons, William M	Director	-	Direct	Sale	700	179.00	$125,300.00	13,904	4
2026-05-22	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	2,270	176.73	$401,177.10	8,043,492	4
2026-05-20	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	172.25	$1,248,812.50	8,053,012	4
2026-05-15	Holt, Michael	Officer	Chief Financial Officer	Direct	Sale	270	166.05	$44,833.50	12,326	4
2026-05-15	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	169.59	$1,229,527.50	8,074,240	4
2026-05-12	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	177.04	$1,283,540.00	8,088,740	4
2026-05-07	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	173.63	$1,258,817.50	8,107,242	4
2026-05-04	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	170.18	$1,233,805.00	8,128,992	4
2026-03-04	Holt, Michael	Officer	Chief Financial Officer	Direct	Purchase	1,000	186.59	$186,590.00	9,480	4
2026-03-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,122	182.32	$569,203.04	8,138,232	4
2026-02-27	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	182.63	$1,324,067.50	8,141,354	4
2026-02-25	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	167.70	$1,215,825.00	8,155,854	4
2026-02-20	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,608	161.63	$1,068,051.04	8,170,354	4
2026-02-18	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,737	159.57	$1,075,023.09	8,184,725	4
2026-02-13	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	157.26	$1,140,135.00	8,198,253	4
2026-02-10	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,214	162.84	$523,367.76	8,212,442	4
2026-02-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,352	170.77	$1,084,731.04	8,217,309	4
2026-02-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	857	202.40	$173,456.80	8,237,375	4
2025-12-29	Tsay, Caroline J	Director	-	Direct	Sale	600	218.48	$131,088.00	3,745	4
2025-11-25	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,286	213.08	$274,020.88	8,600,815	4
2025-11-21	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	212.67	$1,541,857.50	8,602,417	4
2025-11-19	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	210.19	$1,523,877.50	8,616,917	4
2025-11-17	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,070	211.12	$225,898.40	8,631,417	4
2025-11-13	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,848	215.94	$1,478,757.12	8,639,456	4
2025-11-11	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	216.02	$1,566,145.00	8,653,554	4
2025-11-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	4,093	211.61	$866,119.73	8,675,304	4
2025-11-04	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,918	213.80	$1,479,068.40	8,686,647	4
2025-08-27	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,705	262.76	$1,761,805.80	9,312,836	4
2025-08-22	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	263.32	$1,909,070.00	9,324,717	4
2025-08-19	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	259.79	$1,883,477.50	9,340,231	4
2025-08-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,944	260.28	$1,026,544.32	9,361,981	4
2025-08-11	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,764	260.21	$1,760,060.44	9,380,425	4
2025-08-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	4,311	261.97	$1,129,352.67	9,401,507	4
2025-05-27	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,246	306.97	$382,484.62	9,427,836	4
2025-05-20	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,103	310.43	$1,584,124.29	9,437,628	4
2025-05-16	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	309.84	$2,246,340.00	9,449,981	4
2025-05-16	Tsay, Caroline J	Director	-	Direct	Sale	200	309.84	$61,968.00	4,345	4
2025-05-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	2,412	306.67	$739,688.04	9,464,481	4
2025-05-12	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	309.35	$2,242,787.50	9,473,955	4
2025-05-12	Holt, Michael	Officer	Chief Financial Officer	Direct	Sale	353	309.01	$109,080.53	4,575	4
2025-05-08	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	302.97	$2,196,532.50	9,488,455	4
2025-05-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,211	294.27	$944,900.97	9,502,955	4
2025-05-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,250	290.73	$2,107,792.50	9,513,416	4
2025-03-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,370	285.07	$390,545.90	10,027,836	4
2025-03-12	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,062	285.92	$2,591,007.04	10,029,208	4
2025-03-05	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,062	301.67	$2,733,733.54	10,047,332	4
2025-03-03	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,114	315.10	$2,241,621.40	10,056,394	4
2025-02-27	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	368	319.10	$117,428.80	10,072,570	4
2025-02-25	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,608	322.35	$2,774,788.80	10,077,018	4
2025-02-21	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,410	327.50	$461,775.00	10,094,688	4
2025-02-19	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,126	328.62	$1,684,506.12	10,104,491	4
2025-02-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,207	329.30	$1,056,065.10	10,118,679	4
2025-02-13	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,492	324.93	$2,759,305.56	10,121,886	4
2025-02-10	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,695	326.02	$552,603.90	10,131,658	4
2025-02-07	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	2,495	327.00	$815,865.00	10,133,353	4
2025-02-05	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,635	326.84	$1,188,063.40	10,142,694	4
2025-02-03	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,716	327.89	$562,659.24	10,151,120	4
2024-12-13	Dubinsky, Jason	Officer	Chief Financial Officer	Direct	Sale	3,223	354.28	$1,141,844.44	17,304	4
2024-12-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	118	354.46	$41,826.28	10,729,780	4
2024-11-27	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,133	355.78	$2,893,558.74	10,730,091	4
2024-11-25	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,062	350.28	$3,174,237.36	10,747,286	4
2024-11-21	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,837	338.56	$2,653,294.72	10,765,410	4
2024-11-19	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,062	335.37	$3,039,122.94	10,779,041	4
2024-11-15	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	118	342.13	$40,371.34	10,788,378	4
2024-11-13	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,825	350.98	$1,342,498.50	10,791,380	4
2024-11-11	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,222	349.98	$2,527,555.56	10,801,361	4
2024-11-07	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,287	344.53	$443,410.11	10,817,645	4
2024-11-05	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,662	333.57	$2,889,383.34	10,827,994	4
2024-11-01	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,062	328.50	$2,976,867.00	10,845,718	4
2024-10-30	Lyons, William M	Director	-	Direct	Sale	750	331.88	$248,910.00	12,840	4
2024-09-30	Lyons, William M	Director	-	Direct	Sale	750	316.48	$237,360.00	13,590	4
2024-09-10	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	345	306.52	$105,749.40	10,516,912	4
2024-09-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	425	311.71	$132,476.75	10,525,313	4
2024-09-05	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	54	312.55	$16,877.70	10,525,738	4
2024-08-30	Lyons, William M	Director	-	Direct	Sale	750	311.60	$233,700.00	14,340	4
2024-08-30	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,744	313.03	$2,111,074.32	10,532,974	4
2024-08-28	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,670	312.55	$1,772,158.50	10,545,828	4
2024-08-26	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	4,717	314.08	$1,481,515.36	10,557,222	4
2024-08-22	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	4,512	312.45	$1,409,774.40	10,570,195	4
2024-08-20	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	214	315.24	$67,461.36	10,580,916	4
2024-08-16	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,922	314.86	$2,494,320.92	10,584,968	4
2024-08-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,257	310.44	$1,631,983.08	10,599,799	4
2024-08-12	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,149	305.42	$1,572,607.58	10,610,555	4
2024-08-08	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,117	303.11	$1,551,013.87	10,620,679	4
2024-08-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,062	302.86	$2,744,517.32	10,631,706	4
2024-08-01	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,144	317.28	$362,968.32	10,640,768	4
2024-07-31	Dunn, Daniel Joseph	Officer	Chief Revenue Officer	Direct	Sale	1,600	320.89	$513,424.00	12,967	4
2024-07-30	Lyons, William M	Director	-	Direct	Sale	750	324.83	$243,622.50	15,090	4
2024-07-02	Dubinsky, Jason	Officer	Chief Financial Officer	Direct	Sale	3,400	300.11	$1,020,374.00	20,181	4
2024-06-28	Lyons, William M	Director	-	Direct	Sale	750	294.21	$220,657.50	15,840	4
2024-06-24	Tsay, Caroline J	Director	-	Direct	Sale	290	296.98	$86,124.20	3,925	4
2024-06-05	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	397	293.94	$116,694.18	10,641,912	4
2024-06-04	Lyons, William M	Director	-	Direct	Sale	750	289.07	$216,802.50	16,590	4
2024-06-03	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,062	289.15	$2,620,277.30	10,648,928	4
2024-05-30	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,869	287.88	$1,689,567.72	10,662,525	4
2024-05-28	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	236	296.65	$70,009.40	10,668,489	4
2024-05-24	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,082	296.54	$1,507,016.28	10,668,725	4
2024-05-22	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,023	300.40	$1,508,909.20	10,674,922	4
2024-05-20	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,234	300.30	$1,571,770.20	10,687,931	4
2024-05-16	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,062	301.00	$1,824,662.00	10,697,450	4
2024-05-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	4,681	296.78	$1,389,227.18	10,708,316	4
2024-05-10	Kaplan, Steven N	Director	-	Direct	Sale	1,250	298.13	$372,662.50	43,177	4
2024-05-10	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,063	299.56	$1,516,672.28	10,714,555	4
2024-05-08	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	134	301.17	$40,356.78	10,726,348	4
2024-05-03	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,954	293.72	$2,629,968.88	10,741,312	4
2024-05-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,321	289.73	$2,410,843.33	10,750,266	4
2024-03-12	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,614	307.82	$2,651,561.48	10,766,912	4
2024-03-11	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,297	307.69	$399,073.93	10,775,526	4
2024-03-11	Kaplan, Steven N	Director	-	Direct	Sale	1,250	306.81	$383,512.50	44,427	4
2024-03-07	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,533	312.70	$2,668,269.10	10,781,498	4
2024-03-05	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	11,717	304.31	$3,565,600.27	10,800,013	4
2024-03-01	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,025	298.46	$1,798,221.50	10,821,591	4
2024-02-28	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,935	296.82	$2,948,906.70	10,832,014	4
2024-02-26	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,198	299.22	$1,854,565.56	10,852,973	4
2024-02-22	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	11,742	275.68	$3,237,034.56	10,871,821	4
2024-02-20	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	4,176	273.07	$1,140,340.32	10,887,311	4
2024-02-16	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1,367	277.60	$379,479.20	10,891,487	4
2024-02-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,993	276.05	$2,482,517.65	10,899,717	4
2024-02-12	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,481	282.27	$2,111,661.87	10,908,710	4
2024-02-08	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,292	277.91	$914,879.72	10,923,859	4
2024-02-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	45	275.22	$12,384.90	10,934,621	4
2024-02-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	220	279.24	$61,432.80	10,934,766	4
2023-11-27	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,257	277.90	$1,738,820.30	11,342,505	4
2023-11-24	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,555	276.26	$1,810,884.30	11,348,762	4
2023-11-22	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	12,650	276.22	$3,494,183.00	11,355,317	4
2023-11-20	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	11,693	272.10	$3,181,665.30	11,380,617	4
2023-11-16	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	12,650	269.89	$3,414,108.50	11,402,638	4
2023-11-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	12,609	268.43	$3,384,633.87	11,423,064	4
2023-11-14	Diamonte, Robin	Director	-	Direct	Sale	400	268.91	$107,564.00	8,935	4
2023-11-10	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,525	263.47	$2,509,551.75	11,444,297	4
2023-11-08	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,726	262.38	$1,764,767.88	11,456,472	4
2023-11-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	11,334	263.10	$2,981,975.40	11,471,495	4
2023-11-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	12,650	258.29	$3,267,368.50	11,492,205	4
2023-09-05	Landis, Gail S	Director	-	Direct	Sale	580	250.00	$145,000.00	5,147	4
2023-09-01	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	11,394	234.28	$2,669,386.32	11,517,505	4
2023-08-30	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	10,315	226.43	$2,335,625.45	11,541,549	4
2023-08-28	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	12,650	224.66	$2,841,949.00	11,558,479	4
2023-08-24	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	9,415	220.51	$2,076,101.65	11,184,499	4
2023-08-22	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,809	215.29	$1,896,489.61	11,202,749	4
2023-08-18	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	224	219.39	$49,143.36	11,216,521	4
2023-08-16	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,799	219.12	$1,708,916.88	11,229,395	4
2023-08-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,050	219.04	$668,072.00	11,242,697	4
2023-08-10	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,248	219.47	$1,810,188.56	11,251,397	4
2023-08-08	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,022	220.72	$1,329,175.84	11,263,385	4
2023-08-04	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	983	224.68	$220,860.44	11,277,950	4
2023-08-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	120	226.91	$27,229.20	11,288,410	4
2023-08-02	Dunn, Daniel Joseph	Officer	Chief Revenue Officer	Direct	Sale	2,000	224.93	$449,860.00	12,827	4
2023-07-27	Landis, Gail S	Director	-	Direct	Sale	395	225.00	$88,875.00	5,727	4
2023-07-10	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	11,684	198.40	$2,318,105.60	11,293,225	4
2023-07-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,550	193.98	$1,270,569.00	11,316,127	4
2023-07-03	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	6,950	195.90	$1,361,505.00	11,322,937	4
2023-06-30	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	12,650	194.65	$2,462,322.50	11,329,887	4
2023-06-27	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	12,650	187.97	$2,377,820.50	11,362,831	4
2023-06-26	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	240	192.92	$46,300.80	11,375,481	4
2023-06-21	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,519	203.36	$1,122,343.84	11,378,310	4
2023-06-16	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	4,280	208.02	$890,325.60	11,383,829	4
2023-06-14	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	3,423	204.56	$700,208.88	11,396,582	4
2023-06-12	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	1	203.58	$203.58	11,410,544	4
2023-06-08	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	8,478	205.72	$1,744,094.16	11,414,306	4
2023-06-06	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,057	206.42	$1,456,705.94	11,426,301	4
2023-06-02	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	7,432	206.41	$1,534,039.12	11,434,439	4
2023-05-31	Mansueto, Joseph D	Director,Officer,TenPercentOwner	Executive Chairman	Direct	Sale	5,632	206.73	$1,164,303.36	11,449,943	4
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Institutional Ownership

No data available for chart

2026-03-31

58.47%

Inst. Shares: 22,861,290

Shares Outstanding: 39,100,000

2025-12-31

57.14%

Inst. Shares: 23,942,756

Shares Outstanding: 41,900,000

2025-09-30

57.69%

Inst. Shares: 24,289,392

Shares Outstanding: 42,100,000

2025-06-30

59.11%

Inst. Shares: 24,945,169

Shares Outstanding: 42,200,000

2025-03-31

56.88%

Inst. Shares: 24,343,617

Shares Outstanding: 42,800,000

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	22,861,290	39,100,000	58.47%
2025-12-31	23,942,756	41,900,000	57.14%
2025-09-30	24,289,392	42,100,000	57.69%
2025-06-30	24,945,169	42,200,000	59.11%
2025-03-31	24,343,617	42,800,000	56.88%
2024-12-31	24,566,610	42,800,000	57.40%
2024-09-30	24,534,601	42,900,000	57.19%
2024-06-30	24,867,065	42,800,000	58.10%
2024-03-31	24,341,445	42,700,000	57.01%
2023-12-31	23,936,120	42,600,000	56.19%
2023-09-30	24,760,447	42,700,000	57.99%
2023-06-30	23,423,163	42,600,000	54.98%
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Morningstar, Inc. (MORN) — SEC Financial Statements & Analysis

Morningstar, Inc. (MORN) is a investment advice company, incorporated in IL. Morningstar, Inc. trades on Nasdaq as: MORN. Based on its latest SEC filing (Form 10-Q, period ending 2026-06-30), Morningstar, Inc. reported a 9.33% year-over-year revenue growth, a Gross Profit Margin of 62.24% (TTM), a Debt-to-Equity ratio of 2.85x, a Price-to-Sales (P/S) ratio of 2.29x (TTM), a Price-to-Book (P/B) ratio of 5.74x (TTM), at a market cap of $5.88B. Figures below are sourced from SEC EDGAR, as-filed.

Net Revenue TTM Growth 1Y: 9.33%
Gross Profit Margin TTM: 62.24%
Debt To Equity: 2.85x
P/S TTM: 2.29x
P/B TTM: 5.74x
Market Cap: $5.88B

Data as of 2026-06-30 · Source: SEC EDGAR

Frequently Asked Questions

What industry is Morningstar, Inc. in?

Morningstar, Inc. (MORN) operates in the Investment Advice industry.

What is MORN's market cap?

Morningstar, Inc. (MORN) has a market capitalization of $5.88B as of 2026-06-30.

What is MORN's P/E ratio?

Morningstar, Inc. (MORN)'s trailing twelve month P/E ratio is 13.95x as of 2026-06-30.

What exchange does MORN trade on?

Morningstar, Inc. (MORN) trades on the Nasdaq.

Where is Morningstar, Inc. incorporated?

Morningstar, Inc. is incorporated in IL.

Morningstar, Inc.

Financial Statements

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Morningstar, Inc. (MORN) — SEC Financial Statements & Analysis

Frequently Asked Questions

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Morningstar, Inc. (MORN) — SEC Financial Statements & Analysis

Frequently Asked Questions

Companies in Investment Advice

Wall Street's data.Main Street's price.

Wall Street's data.
Main Street's price.