MORNINGSTAR, INC. financials

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MORN CIK 0001289419

Source: EDGAR filings · Built 2026-06-02T03:34:51Z

Key metrics by reporting period

Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.

Derived Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2019
Free Cash Flow 442.60M 448.90M 197.30M 168.30M 348.10M 254.40M
EBITDA 716.50M 675.20M 415.50M 334.40M 407.70M 307.30M
Working Capital -15.30M 46.80M -65.10M -71.70M 104.10M 107.40M
Net Debt 786.60M 401.30M 854.40M 979.10M 47.70M 364.50M
Gross Margin 61.03% 60.63% 58.62% 58.34% 58.90% 59.02%
Operating Margin 21.53% 21.31% 11.31% 8.97% 15.12% 16.08%
Net Margin 15.30% 16.26% 6.92% 3.77% 11.38% 12.89%
Return on Equity (ROE) 30.62% 22.85% 10.63% 5.84% 13.65% 14.03%
Return on Assets (ROA) 10.42% 10.42% 4.15% 2.03% 6.75% 6.41%
Current Ratio 0.99× 1.05× 0.93× 0.92× 1.13× 1.22×
Debt-to-Equity 1.03× 0.56× 0.90× 1.12× 0.38× 0.64×
Effective Tax Rate 24.51% 21.95% 18.95% 43.26% 24.99% 22.97%
Cash Conversion Ratio 1.58× 1.60× 2.24× 4.22× 2.33× 2.20×
Accruals Ratio -0.06× -0.06× -0.05× -0.07× -0.09× -0.08×
SBC % of Revenue 2.31% 2.40% 2.59% 4.45% 2.47% 3.77%
CapEx Coverage 4.01× 4.15× 2.66× 2.30× 4.42× 4.18×
Free Cash Flow Per Share $10.49 $10.42 $4.60 $3.92 $8.02 $5.89

Valuation Metrics

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2019
P/E Trailing (Diluted) 24.50× 39.25× 87.00× 132.07× 76.85× 42.99×
P/FCF 20.72× 32.33× 62.24× 55.21× 42.64× 25.69×
FCF Yield 4.83% 3.09% 1.61% 1.81% 2.35% 3.89%
EV / EBITDA 13.15× 21.98× 31.49× 30.44× 36.30× 22.28×
P/S 3.53× 6.35× 6.00× 4.92× 8.68× 5.50×
P/B 7.07× 8.92× 9.21× 7.62× 10.42× 5.98×

Income Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2019
Revenue from Contract with Customer, Excluding Assessed Tax 2.45B 2.28B 2.04B 1.87B 1.70B 1.18B
Revenues 2.45B 2.28B 2.04B 1.87B 1.70B 1.18B
Cost of Goods and Services Sold 952.90M 895.70M 843.50M 779.30M 698.40M 483.10M
Operating Income (Loss) 526.60M 484.80M 230.60M 167.80M 257.00M 189.60M
Income Tax Expense (Benefit) 121.50M 104.00M 33.00M 56.50M 62.60M 45.60M
Earnings Per Share, Basic $8.93 $8.64 $3.31 $1.65 $4.50 $3.56
Weighted Average Number of Shares Outstanding, Basic 41.90M 42.80M 42.60M 42.60M 43.00M 42.70M
Earnings Per Share, Diluted $8.87 $8.58 $3.29 $1.64 $4.45 $3.52
Weighted Average Number of Shares Outstanding, Diluted 42.20M 43.10M 42.90M 42.90M 43.40M 43.20M

Balance Sheet

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2019
Cash and Cash Equivalents, at Carrying Value 474.50M 502.70M 337.90M 376.60M 483.80M 334.10M
Assets, Current 1.04B 1.01B 815.70M 810.80M 887.60M 603.20M
Assets 3.59B 3.55B 3.40B 3.47B 2.86B 2.37B
Long-term Debt 1.07B 698.60M 940.30M 1.08B 359.40M 513.10M
Liabilities, Current 1.05B 967.30M 880.80M 882.50M 783.50M 495.80M
Long-term Debt, Excluding Current Maturities 1.07B 698.60M 972.40M 1.11B 359.40M 502.10M
Liabilities 2.37B 1.93B 2.08B 2.27B 1.45B 1.29B
Common Stock, Shares, Outstanding 39.74M 42.87M 42.73M 42.48M 43.14M 42.85M

Cash Flow Statement

Concept FY 2025FY 2024FY 2023FY 2022FY 2021FY 2019
Net Cash Provided by (Used in) Operating Activities 589.70M 591.60M 316.40M 297.80M 449.90M 334.40M
Payments to Acquire Property, Plant, and Equipment 147.10M 142.70M 119.10M 129.50M 101.80M 80.00M
Net Cash Provided by (Used in) Investing Activities -139.30M -21.30M -81.90M -799.30M -167.70M -746.30M
Payments for Repurchase of Common Stock 787.00M 11.60M 1.40M 226.00M 1.30M 4.90M
Payments of Dividends 76.90M 69.30M 63.90M 61.50M 54.20M 47.80M
Net Cash Provided by (Used in) Financing Activities -514.70M -384.40M -278.40M 415.10M -211.80M 373.70M

Raw XBRL tagging for a single filing

Every us-gaap and custom concept the filer tagged for one fiscal period, grouped by statement. Start here when a number in the trend table above surprises you and you want to see the exact tag behind it. Derived and valuation rows are omitted here because they already appear in the trend table.

Most recent filing shown by default.

Compare filings side-by-side

Diff any two filings with deltas and added / removed tags.

Immaterial rows are USD line items under 1% of the period's revenue — the noise floor below which a single tag rarely moves the investment thesis. Revenue is read from the filer's top-line concept (Revenues / RevenueFromContractWithCustomerExcludingAssessedTax, with a fallback chain). Non-USD rows, rows without a numeric value, and every row on a filing with no identifiable revenue anchor stay visible. Flip the switch off to see every tag the filer reported for the period.

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Methodology

All facts on this page come straight from SEC EDGAR XBRL company-facts filings (MORN CIK 0001289419), grouped by financial statement using FASB's base us-gaap presentation taxonomy. Filers may re-parent concepts onto different statements in their own extension taxonomy, so a handful of rows can show up under a different statement than on the actual 10-K / 10-Q; custom concepts and any we couldn't map fall into Other. Hover a cell to see the fully-qualified concept name and the filer's description.

For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.

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