Morningstar Inc (MORN)

Official site

FINANCIAL SERVICES • FINANCIAL DATA & STOCK EXCHANGES • NASDAQ

$244.15

-3.02 (-1.22%)

Market Cap: $9.17B

Last updated: Nov 06, 2026 at 4:42 PM ET

Earnings

Performance (10Y)

Beat Rate

82%(28/34)

Avg Surprise

+6.05%

Streak

9 Q

Upcoming Estimates

Period ending Dec 31, 2026

EPS Consensus$4.32

Range$3.79 - $4.68

3 analysts

Revenue Consensus

$727M

Range$709M - $743M

3 analysts

Period ending Mar 31, 2027

EPS Consensus$3.54

Range$3.54 - $3.54

1 analysts

EPS Revisions

30d

EPS Estimate DriftChange to current

90d ago$3.46+2.3%

60d ago$3.46+2.3%

30d ago$3.46+2.3%

7d ago$3.46+2.3%

Current$3.54

Revenue Consensus

$687M

Range$687M - $687M

1 analysts

Last 12 of 40 reported quarters and 2 upcoming estimates

Period	Reported	Est.	Range	Surprise	B/M	Analysts	Revisions	YoY
Mar 31, 2027Mar 27EST	-	$3.54	$3.54 - $3.54	-	-	1	1 0 30d	-
Dec 31, 2026Dec 26EST	-	$4.32	$3.79 - $4.68	-	-	3	-	-
Sep 30, 2026Sep 26 Reported Oct 28, 2026Reported Oct 28	$3.48	$3.04	$2.88 - $3.20	+14.47%	Beat	2	1 0 30d	+36.5%
Jun 30, 2026Jun 26 Reported Jul 29, 2026Reported Jul 29	$3.10	$2.83	$2.70 - $2.96	+9.54%	Beat	2	2 0 30d	+29.2%
Mar 31, 2026Mar 26 Reported Apr 29, 2026Reported Apr 29	$3.18	$2.66	$2.62 - $2.70	+19.55%	Beat	2	1 0 30d	+42.6%
Dec 31, 2025Dec 25 Reported Feb 12, 2026Reported Feb 12	$2.71	$2.17	$2.10 - $2.24	+24.88%	Beat	2	2 0 30d	-0.1%
Sep 30, 2025Sep 25 Reported Oct 29, 2025Reported Oct 29	$2.55	$2.42	$2.29 - $2.55	+5.37%	Beat	2	0 1 30d	+27.5%
Jun 30, 2025Jun 25 Reported Jul 30, 2025Reported Jul 30	$2.40	$2.19	$2.04 - $2.35	+9.59%	Beat	2	0 1 30d	+49.7%
Mar 31, 2025Mar 25 Reported Apr 30, 2025Reported Apr 30	$2.23	$2.06	$1.79 - $2.33	+8.25%	Beat	2	No revisions (30d)	+49.4%
Dec 31, 2024Dec 24 Reported Feb 26, 2025Reported Feb 26	$2.71	$2.06	$1.82 - $2.17	+31.51%	Beat	2	1 0 30d	+58.7%
Sep 30, 2024Sep 24 Reported Oct 23, 2024Reported Oct 23	$2.00	$2.00	$1.80 - $2.21	+0.00%	Beat	2	No revisions (30d)	+56.3%
Jun 30, 2024Jun 24 Reported Jul 24, 2024Reported Jul 24	$1.60	$0.00	$0.00 - $0.00	N/A	Beat	0	No revisions (30d)	+0.2%
Mar 31, 2024Mar 24 Reported Apr 24, 2024Reported Apr 24	$1.49	$1.73	$1.73 - $1.73	-13.70%	Miss	0	No revisions (30d)	+366.6%
Dec 31, 2023Dec 23 Reported Feb 22, 2024Reported Feb 22	$1.71	$1.97	$1.97 - $1.97	-13.23%	Miss	0	No revisions (30d)	+194.7%

Dividends

Last ex-dividend: Oct 2, 2026

Dividend Metrics

Forward Yield0.82%

Forward Annual Dividend$2.00

Payout Ratio11.65%

FrequencyQuarterly

Pay MonthsJan, Apr, Jul, Oct

Growth

3Y CAGR+8.12%

5Y CAGR+3.74%

MORN dividend history and ex-dividend dates Run MORN in the free DRIP calculator

Key Metrics

Valuation
P/E Ratio	19.58	EV/EBITDA	12.07x
Price/FCF	18.53x	FCF Yield	5.40%
Profitability
Profit Margin	17.00%	Operating Margin	24.90%
ROE	35.10%	ROIC	18.02%
Financial Health
Debt/Equity	1.64x	Interest Coverage	N/A
Current Ratio	1.05x	Quick Ratio	1.05x
Trading Statistics
Beta	0.90	Avg Volume	257.65K
52-Week High	$248.88	52-Week Low	$140.69

Technical Indicators Dashboard

Moving Averages

SMA 10$231.57

SMA 20$221.22

SMA 50$208.26

SMA 200$185.78

EMA 10$233.87

EMA 20$224.41

EMA 50$211.62

EMA 200$200.64

MACD

Line: 10.86Signal: 8.14Hist: 2.72

ADX

ADX: 33.7+DI: 41.1-DI: 14.8

Aroon & PSAR

Aroon Up96.0

Aroon Down4.0

PSAR$221.34

Bollinger Bands

Upper Band$250.23

Lower Band$192.21

%B Position2623%(Upper)

Band Width0.90

RSI (14-Day)

Overbought

71.6

Momentum Oscillators

Stoch %K94.2

Stoch %D93.3

Williams %R-11.6

ROC (10d)8.6%

Momentum19.26

CCI (20d)132.1

MFI (14d)80.0

Volatility Measures

ATR (14d)$7.11(2.9%)

StdDev (20d)14.50

Hist Vol36.3%(Moderate)

Volume Flow

VWAP$243.31

OBV253.1K

AD Line-73.6M

CMF (20d)0.254

Volume Metrics

Avg Vol (20d)254.1K

Vol Ratio1.0x

VWMA (20d)$224.46

Pivot Points

R3$254.76

R2$251.82

R1$249.50

Pivot Point$246.56

S1$244.23

S2$241.29

S3$238.97

Advanced Oscillators

TSI38.47

Ultimate Osc70.5

KST153.35

Financial Data

Quarter	Sep 2026	Jun 2026	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023
Total Revenue	$672.10M	$663.20M	$644.80M	$641.10M	$617.40M	$605.10M	$581.90M	$591.00M	$569.40M	$571.90M	$542.80M	$538.70M
Cost of Revenue	$240.70M	$239.30M	$238.90M	$249.20M	$241.70M	$230.60M	$231.40M	$232.20M	$222.70M	$222.70M	$218.10M	$205.40M
Gross Profit	$431.40M	$423.90M	$405.90M	$391.90M	$375.70M	$374.50M	$350.50M	$358.80M	$346.70M	$349.20M	$324.70M	$333.30M

Operating Expenses	$264.00M	$263.30M	$250.00M	$232.30M	$247.90M	$249.40M	$236.40M	$190.60M	$231.20M	$240.70M	$232.10M	$238.90M
R&D	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
SG&A	$93.10M	$98.50M	$84.00M	$89.60M	$85.90M	$82.00M	$76.50M	$89.00M	$77.60M	$80.30M	$80.30M	$92.00M
Operating Income	$167.40M	$160.60M	$155.90M	$159.60M	$127.80M	$125.10M	$114.10M	$168.20M	$115.50M	$108.50M	$92.60M	$94.40M

Interest Income	$-17,600,000	$-18,000,000	$-13,800,000	$-8,700,000	$-7,000,000	$-7,400,000	$-5,400,000	$-7,000,000	$-8,900,000	$-10,300,000	$-11,500,000	$-11,500,000
Interest Expense	$15.00M	$13.60M	$14.10M	$8.70M	$4.70M	$8.60M	$5.60M	$5.30M	$0	$19.00M	$5.60M	$4.10M
Income Before Tax	$152.40M	$147.00M	$141.80M	$150.90M	$123.10M	$116.50M	$108.50M	$162.90M	$151.90M	$89.50M	$87.00M	$90.30M
Income Tax Expense	$38.40M	$38.30M	$34.60M	$36.40M	$31.40M	$26.30M	$27.40M	$33.90M	$29.60M	$19.20M	$21.30M	$14.10M

Net Income	$115.50M	$107.80M	$107.10M	$115.10M	$91.60M	$89.00M	$78.50M	$116.90M	$119.70M	$69.10M	$64.20M	$73.50M

EBITDA	$223.10M	$217.60M	$207.20M	$206.80M	$177.10M	$172.40M	$161.20M	$218.30M	$206.50M	$148.90M	$145.70M	$148.30M
EBIT	$170.00M	$164.10M	$155.50M	$159.70M	$130.10M	$123.90M	$113.90M	$169.90M	$160.80M	$99.80M	$98.50M	$101.80M

* Some calculated fields are derived from available data when not provided by source

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Government Contracts

Gov Obligations (TTM)

$5.67M

Gov Obligations / Revenue

0.2%

Obligations YoY

-23.1%

Active Awards

New Awards (TTM)

Avg Remaining Term

7.2 mo

Top agency: Securities and Exchange Commission at 30.8% of trailing twelve month obligations across 15 agencies

Recent Awards

Award ID	Agency	Obligated	Start	End	Description
19AQMM25P0058	Department of StateDepartment of State	$719822	Sep 21, 2025	Sep 20, 2026	PITCHBOOK RENEWAL 2025
50310225P0040	Securities and Exchange CommissionSecurities and Exchange Commission	$619505	Sep 30, 2025	Sep 29, 2027	SUBSCRIPTION TO PRIVATE MARKET DATA.
2032H325F00092	Department of the TreasuryDepartmental Offices	$456500	Sep 11, 2025	Sep 12, 2026	PITCHBOOK SUBSCRIPTION SERVICES. NEW TASK ORDER #3 - PITCHBOOK SUBSCRIPTION.
2032H325F00096	Department of the TreasuryDepartmental Offices	$316801	Sep 11, 2025	Sep 12, 2026	PITCHBOOK DATA FEED FOR COMMITTEE ON FOREIGN INVESTMENT IN THE UNITED STATES (CFIUS) AND OFFICE OF INVESTMENT SECURITY (OIS). NEW TASK ORDER #4.
47HAA025C0003	General Services AdministrationOffice of Administrative Services	$189152	Sep 27, 2025	Sep 26, 2027	SUBSCRIPTION SERVICES
15JPSS26P00000398	Department of JusticeOffices, Boards and Divisions	$157500	Aug 1, 2026	Jul 31, 2027	PITCHBOOK - STANDARD PLATFORM SUBSCRIPTION AUTHORIZED USERS: (15) FOR THE NATIONAL SECURITY DIVISION (NSD)
1605C125P00020	Department of LaborOffice of the Assistant Secretary for Administration and Management	$102500	Sep 27, 2025	Sep 26, 2027	THE EBSA REQUIRES ONE, 12-MONTH SUBSCRIPTION FOR 5 USER LICENSES
1333ND26PNB030271	Department of CommerceNational Institute of Standards and Technology	$94500	Aug 1, 2026	Jul 31, 2027	PITCHBOOK SUBSCRIPTION
80NSSC26P0315	National Aeronautics and Space AdministrationNational Aeronautics and Space Administration	$66764	Mar 13, 2026	Mar 12, 2027	PITCHBOOK DATA FEED AND PLATFORM SUBSCRIPTION RENEWAL.
89703025FAR000003	Department of EnergyDepartment of Energy	$61747	Sep 26, 2025	Sep 25, 2026	CALL FOR $52,500.00 (7 USERS) FOR WEB-BASED INVESTOR DATABASE LICENSES FOR PITCHBOOK'S BPA 89703025AAR000001.

Federal contract obligations are bookings recorded by the awarding agency, not recognized revenue. They can exceed 100% of revenue and can be negative when contracts are de-obligated. Source: USAspending.gov prime awards, data through Jul 31, 2026.

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MORN Valuation and Fair Value

P/E: 19.6x
Forward P/E: 16.3x
EV/EBITDA: 12.1x
P/FCF: 18.5x
PEG: 2.3x
P/B: 8.9x

See GNG's fair value

MORN Profitability: Margins, ROIC and FCF

Gross margin: 63.1%
Operating margin: 24.9%
Net margin: 17.0%
ROIC: 18.0%
ROE: 35.1%
FCF margin: 18.8%
FCF yield: 5.4%

MORN Competitors

Company	Ticker
Jackson Financial Inc	JXN
Voya Financial Inc	VOYA
Assurant, Inc. 5.25% Subordinat	AIZN
Primerica Inc	PRI
Old National Bancorp	ONB
Kinsale Capital Group Inc	KNSL
Zions Bancorporation	ZION
Prosperity Bancshares Inc	PB

Sector: Financial Services

MORN Analyst Ratings

Consensus: Buy
Analysts: 3
Strong Buy: 0
Buy: 2
Hold: 1
Sell: 0
Strong Sell: 0

MORN Bull Case vs Bear Case

Bull case

MORN earns an 18.0% return on invested capital.
MORN converts 18.8% of revenue into free cash flow.
MORN beat EPS estimates in 100.0% of its last 8 reported quarters.

MORN Earnings: Beat Rate and Next Report

Beat rate: 8 of 8 quarters (100.0%)
Average surprise: 15.4%
EPS estimate (fiscal period ending Dec 31, 2026): $4.32

MORN Dividend

Forward yield: 0.8%
Payout ratio: 11.7%
3Y DPS growth: 8.1%
5Y DPS growth: 3.7%
Pay months: Jan, Apr, Jul, Oct

MORN dividend history

MORN Earnings Date

MORN reports Feb 10, 2027, after the close. The date is estimated.

MORN ETF Holders

GNG tracks 22 ETFs that hold MORN. The largest weights:

Invesco S&P MidCap Quality ETF (XMHQ), 0.66% of the fund
Vanguard Windsor Fund Admiral Shares (VWNEX), 0.59% of the fund
American Century U.S. Quality Growth ETF (QGRO), 0.25% of the fund
Royce Value Trust Inc (RVT), 0.14% of the fund
S&P MidCap 400 ETF (MDY), 0.11% of the fund

Open the ETF Stock Exposure tool for MORN

See insider activity

Frequently Asked Questions About MORN

When is MORN's next ex-dividend date?

MORN has not declared its next regular ex-dividend date yet. Its last ex-dividend date was Oct 2, 2026 ($0.5 per share). Over the last 12 months, MORN went ex-dividend in Jan, Apr, Jul and Oct.

When does MORN report earnings?

Morningstar Inc (MORN) is expected to report earnings on Feb 10, 2027.

What is MORN's current dividend yield?

Morningstar Inc (MORN) has a forward dividend yield of 0.82%.

Does MORN pay dividends?

Yes, Morningstar Inc pays dividends with a forward dividend yield of 0.82%.

What is MORN's P/E ratio?

Morningstar Inc has a price-to-earnings (P/E) ratio of 19.58.

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