Morningstar Inc

Financial Services · Financial Data & Stock Exchanges

196.00$ -0.2% vs. previous close Closing price · As of: Sep 25, 2026

Statements

Income Statement

Morningstar Inc (MORN) by the numbers: income statement, balance sheet and cash flow, by year or by quarter. In the most recent period (Q2 26), "Revenue" came in at 663 million USD. Tick rows to compare them in a chart.

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Amounts Change % Common size % Per share

Last 12 Full history

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All figures in millions of USD.

Tick rows to compare them in a chart (up to 4)

Income Statement MORN
Line item	Q3 16	Q4 16	Q1 17	Q2 17	Q3 17	Q4 17	Q1 18	Q2 18	Q3 18	Q4 18	Q1 19	Q2 19	Q3 19	Q4 19	Q1 20	Q2 20	Q3 20	Q4 20	Q1 21	Q2 21	Q3 21	Q4 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	LTM
Revenue	196	212	210	229	230	243	244	252	261	263	259	274	314	332	324	328	357	380	393	415	429	462	457	470	468	475	480	505	516	539	543	572	569	591	582	605	617	641	645	663	2,567
Cost of Revenue	85	88	97	95	91	103	102	100	100	109	105	108	128	142	137	131	139	150	157	168	183	190	191	198	195	195	219	216	203	205	218	223	223	232	231	231	242	249	239	239	969
Gross Profit	111	124	113	134	139	140	141	153	161	154	154	166	185	190	187	197	219	231	236	247	246	273	266	273	273	280	261	288	313	333	325	349	347	359	351	375	376	392	406	424	1,597
Research & Development	0.0	20	0.0	0.0	0.0	31	0.0	0.0	0.0	43	–	–	–	61	–	–	–	54	–	–	–	60	–	–	–	64	–	–	–	81	–	–	–	–	–	–	–	–	–	–	–
Selling, General & Administrative	26	29	30	30	33	37	32	36	35	44	41	44	57	69	57	55	86	74	70	96	67	86	90	87	117	106	84	90	90	92	80	80	78	89	77	82	86	90	84	99	358
Total Operating Expenses	67	74	84	88	86	97	94	99	96	105	104	116	136	151	143	136	174	166	168	200	178	198	209	219	251	245	236	247	243	239	232	241	231	191	236	249	248	232	250	263	994
Operating Income	44	50	28	46	53	43	48	54	65	49	50	51	50	40	45	61	44	65	67	47	68	75	56	54	22	36	25	42	70	94	93	109	116	168	114	125	128	160	156	161	604
Interest Expense	0.4	0.6	1.3	1.3	1.3	1.6	0.8	1.3	0.8	1.2	1.1	0.1	5.3	4.6	3.7	2.1	1.9	3.4	3.1	2.5	2.5	2.3	2.6	4.5	11	12	15	16	16	15	14	13	12	11	8.9	10	9.4	11	16	17	54
Pre-Tax Income	47	88	26	61	51	42	55	55	73	48	45	54	62	37	32	63	93	94	69	47	65	75	63	38	-3.6	30	0.8	30	56	88	86	88	149	151	106	115	123	152	142	147	563
Income Tax Expense	17	17	8.3	15	17	2.7	13	13	16	5.5	12	12	13	9.1	8.5	15	17	19	14	14	16	19	17	7.4	5.4	26	8.4	-6.2	17	14	21	19	30	34	27	26	31	36	35	38	141
Net Income	30	70	18	46	34	39	42	42	57	42	33	42	49	28	24	48	76	75	55	33	49	57	46	30	-9.0	3.3	-7.6	36	39	74	64	69	120	117	79	89	92	115	107	108	422
EBITDA	65	108	50	84	74	70	81	80	98	75	71	79	103	74	71	100	130	133	107	86	104	115	103	84	53	88	61	95	120	151	148	152	210	222	165	175	180	209	209	214	812

LTM = last twelve months (sum of the four most recent quarters).

Showing the most recent 40 periods — older statements are on file for this stock.

Data as of: September 25, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)

Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.

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