Saturday 31 October 2026 Export MORN’s income statement to Excel — free account

Morningstar, Inc.

MORN Financial Financial Data & Stock Exchanges

Morningstar, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, up 7.49% from fiscal 2024.

Revenue: +9.60%
EPS: +35.1%
Free cash flow: +96.3%
Total debt: +104.3%

Quarter to June 2026, against a year earlier

226.19 3.65 +1.64%

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Market cap: $8.3B
P/E: 21.4×
Fwd P/E: 19.7×
Dividend yield: 0.88%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Segments Filings

	Older periods	Sep '25	Dec '25	Mar '26	Jun '26
Piotroski F-Score Full definition →	+8 more TTM periods Free account	8	6	5	6
ROE Full definition →		24.42%	26.35%	30.66%	31.96%
ROA Full definition →		10.56%	10.48%	10.64%	11.13%
ROIC Full definition →		18.10%	18.64%	16.15%	17.05%
Return on Tangible Assets Full definition →		144.84%	172.76%	150.64%	143.30%
Average Days of Receivables Full definition →		57.42	60.69	60.82	56.26
Free Cash Flow per Share Full definition →		9.36	10.56	11.19	13.16
Free Cash Flow Full definition →		394.10	442.60	437.40	497.50
Capital Expenditures Full definition →		(145.00)	(147.10)	(152.80)	(149.40)
Other line items
Cash ROIC Full definition →		13.70%	15.68%	13.40%	15.26%
Accounts Receivable Turnover Full definition →		6.79	6.29	6.52	6.44
Accounts Payable Turnover Full definition →		10.96	10.29	9.74	10.64
Inventory Turnover Full definition →		0.00	0.00	0.00	0.00
Average Days of Payables Full definition →		35.26	37.50	39.75	34.61
Days of Inventory on Hand Full definition →		0.00	0.00	0.00	0.00
Tax Rate Full definition →		(0.23)	(0.24)	(0.24)	(0.25)
Research and Development Expense of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →		33.33%	32.75%	32.34%	32.18%
Share Based Compensation of Revenue Full definition →		2.59%	2.31%	2.32%	2.61%
Interest Coverage Full definition →		19.97	18.41	15.40	12.96
Operating CF/Net income Full definition →		1.43	1.58	1.47	1.53
Depreciation/Fixed assets Full definition →		0.85	0.82	0.83	0.83
Capex/Depreciation Full definition →		(0.76)	(0.77)	(0.79)	(0.75)
Revenue per Share Full definition →		56.90	58.37	64.15	67.90
Operating CF per Share Full definition →		12.81	14.07	15.09	17.11
Capex per Share Full definition →		(3.44)	(3.51)	(3.91)	(3.95)
Capex to Sales Full definition →		0.06	0.06	0.06	0.06

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Columns are period end dates

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