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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
+8.86%
EPS
+41.7%
Free cash flow
−2.94%
Total debt
+97.8%

Quarter to September 2026, against a year earlier

244.03 3.14 −1.27%
Market cap
$9.2B
P/E
21.2×
Fwd P/E
19.7×
Dividend yield
0.82%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Morningstar, Inc. (MORN) P/S ratio

Alert me on P/S ratio

As of 6 November 2026, Morningstar, Inc. (MORN) trades at a P/S ratio of 3.5×. Over the past ten years it has ranged from 2.2× (June 2026) to 9.2× (December 2021); the current reading is higher than 7% of that period. That is below the Financial Data & Stock Exchanges industry median of 6.8× and above the Financial sector median of 2.3×.

P/S ratio, daily

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Annual newest first

Period P/S ratio Change
FY2025 3.7× (41.23%)
FY2024 6.3× 9.21%
FY2023 5.8× 16.77%
FY2022 5.0× (42.60%)
FY2021 8.7× 21.04%
FY2020 7.1× 30.47%
FY2019 5.5× 19.44%
FY2018 4.6× 1.05%
FY2017 4.5× 13.67%
FY2016 4.0× (11.35%)

Quarterly newest first

Period P/S ratio Change
Sep 2026 2.7× 18.00%
Jun 2026 2.3× (12.80%)
Mar 2026 2.6× (29.23%)
Dec 2025 3.7× (8.69%)
43 more quarters

Against its own ten years

Low 2.2× High 9.2×
Ten-year median 5.1×
Current reading's percentile 7

P/S ratio against peers

Company P/S ratio
TRU TransUnion compare 3.1×
MORN Morningstar, Inc. 3.5×
FDS FactSet Research Systems Inc. compare 5.0×
COIN Coinbase Global, Inc. compare 6.5×
NDAQ Nasdaq, Inc. compare 6.5×
CBOE Cboe Global Markets, Inc. compare 7.0×
ICE Intercontinental Exchange Inc. compare 9.0×
MCO Moody's Corporation compare 10.9×
MSCI MSCI Inc compare 13.8×
Financial Data & Stock Exchanges industry median 6.8×
Financial sector median 2.3×
Market median 1.9×

What P/S ratio is

Price to Sales Ratio shows how much investors pay for each dollar of a company’s annual sales, whether or not it is profitable.

(Stock Price × Shares (Basic, Weighted) (latest quarter)) ÷ Revenue (TTM)

The full definition of P/S ratio →

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