Morningstar, Inc. (MORN) vs Nasdaq, Inc. (NDAQ)

Morningstar, Inc. and Nasdaq, Inc. are both Financial Data & Stock Exchanges companies. Nasdaq, Inc. is the larger, with a market value of $52.9B against $7.4B — 7.2× the size. Morningstar, Inc. trades at the lower P/E: 18.5× against 27.0×. Morningstar, Inc. grew revenue faster over the last twelve months: 9.33% against 7.42%. Nasdaq, Inc. has the higher net margin (22.5% vs 16.4%) and the lower return on invested capital (8.18% vs 17.1%). Both pay a dividend; Nasdaq, Inc. yields more (1.62% vs 0.55%). Across the 23 metrics below, Morningstar, Inc. leads on 14 and Nasdaq, Inc. on 9.

Valuation

Metric MORN NDAQ Financial Data & Stock Exchanges median
P/E 18.47 26.96 21.77
P/S 2.89 6.04 7.79
P/B 7.23 4.40 3.85
Price to free cash flow 14.89 27.05 18.75
EV/EBITDA 10.70 18.73 15.55
EV/Sales 3.35 6.94 6.94
Earnings yield 5.42% 3.71% 4.49%
Free cash flow yield 6.72% 3.70% 4.68%

Profitability

Metric MORN NDAQ Financial Data & Stock Exchanges median
Gross margin 62.24% 64.27% 70.90%
Operating margin 23.53% 29.60% 29.55%
Net margin 16.43% 22.52% 23.21%
Free cash flow margin 19.38% 22.34% 29.05%
Return on equity 31.96% 16.52% 15.34%
Return on assets 11.13% 6.82% 6.82%
Return on invested capital 17.05% 8.18% 9.96%

Growth

Metric MORN NDAQ Financial Data & Stock Exchanges median
Revenue growth (TTM) 9.33% 7.42% 9.16%
EPS growth (last fiscal year) 3.38% 60.10% —
Revenue growth, 5-year CAGR 11.97% 7.99% 7.76%
Net income growth, 5-year CAGR 10.85% 13.89% 9.78%

Health

Metric MORN NDAQ Financial Data & Stock Exchanges median
Debt to equity 1.67 0.71 0.48
Current ratio 1.06 1.01 1.06
Net debt to EBITDA 0.76 2.61 1.08

Dividend

Metric MORN NDAQ Financial Data & Stock Exchanges median
Dividend yield 0.55% 1.62% 1.16%
Payout ratio 2.75 0.37 0.42

Size

Metric MORN NDAQ Financial Data & Stock Exchanges median
Market cap 7.37b 52.94b 27.94b

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