stockrowMorningstar, 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
- +8.86%
- EPS
- +41.7%
- Free cash flow
- −2.94%
- Total debt
- +97.8%
Quarter to September 2026, against a year earlier
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Morningstar, Inc. (MORN) Gross margin
Morningstar, Inc.'s gross margin over the twelve months to 30 September 2026 was 63.1%, up 2.0 percentage points from fiscal 2025 (61.0%). Over the past ten years it has ranged from 56.9% (fiscal 2016) to 61.0% (fiscal 2025) — the current reading is the highest in ten years. That is below the Financial Data & Stock Exchanges industry median of 72.8% and below the Financial sector median of 70.1%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 61.0% | 0.40 |
| FY2024 | 60.6% | 2.01 |
| FY2023 | 58.6% | 0.28 |
| FY2022 | 58.3% | (0.56) |
| FY2021 | 58.9% | (1.06) |
| FY2020 | 60.0% | 0.94 |
| FY2019 | 59.0% | (0.67) |
| FY2018 | 59.7% | 2.09 |
| FY2017 | 57.6% | 0.71 |
| FY2016 | 56.9% | (1.26) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 64.2% | 0.27 |
| Jun 2026 | 63.9% | 0.97 |
| Mar 2026 | 63.0% | 1.82 |
| Dec 2025 | 61.1% | 0.28 |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| ICE Intercontinental Exchange Inc. compare | 98.7% |
| COIN Coinbase Global, Inc. compare | 85.8% |
| MSCI MSCI Inc compare | 82.9% |
| MCO Moody's Corporation compare | 74.6% |
| NDAQ Nasdaq, Inc. compare | 63.2% |
| MORN Morningstar, Inc. | 63.1% |
| TRU TransUnion compare | 58.8% |
| CBOE Cboe Global Markets, Inc. compare | 53.9% |
| FDS FactSet Research Systems Inc. compare | 50.6% |
| Financial Data & Stock Exchanges industry median | 72.8% |
| Financial sector median | 70.1% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on MORN
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement