About Morningstar, Inc.
https://www.morningstar.comMorningstar, Inc. provides independent investment research services in North America, Europe, Australia, and Asia.
CEO
Kunal Kapoor CFA
Compensation Summary
(Year 2024)
Salary $525,000
Stock Awards $5,818,054
Incentive Plan Pay $2,275,320
All Other Compensation $17,251
Total Compensation $8,635,625
Industry Financial - Data & Stock Exchanges
Sector Financial Services
Went public May 3, 2005
Method of going public IPO
Full time employees 11,115
ETFs Holding This Stock
Summary
Total 219
Showing Top 3 of 219
Ratings Snapshot
Rating : B+
Discounted Cash Flow 4
Return On Equity 5
Return On Assets 5
Debt To Equity 2
Price To Earnings 2
Price To Book 1
Overall Score 3
Most Recent Analyst Grades
Grade Summary
Buy 1
Outperform 1
Showing Top 2 of 2
Price Target
Target High $320
Target Low $250
Target Median $285
Target Consensus $285
Institutional Ownership
VANGUARD GROUP INC
Shares:2.61M
Value:$574.27M
BLACKROCK INC.
Shares:2.54M
Value:$558.07M
BLACKROCK, INC.
Shares:2.39M
Value:$526.86M
Summary
% Of Shares Owned 48.94%
Total Number Of Holders 563
Showing Top 3 of 563
Market Cap $9.03 B
52w High $335.21
52w Low $202.89
Dividend Yield 0.92%
Frequency Quarterly
P/E 25.03
Volume 509.64K
Outstanding Shares 42.50M
About Morningstar, Inc.
https://www.morningstar.comMorningstar, Inc. provides independent investment research services in North America, Europe, Australia, and Asia.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $617.4M ▲ | $247.9M ▼ | $91.6M ▲ | 14.84% ▲ | $2.18 ▲ | $179.5M ▲ |
| Q2-2025 | $605.1M ▲ | $249.4M ▲ | $89M ▲ | 14.71% ▲ | $2.11 ▲ | $175.3M ▲ |
| Q1-2025 | $581.9M ▼ | $236.4M ▲ | $78.5M ▼ | 13.49% ▼ | $1.83 ▼ | $164.7M ▼ |
| Q4-2024 | $591M ▲ | $190.6M ▼ | $116.9M ▼ | 19.78% ▼ | $2.72 ▼ | $209.9M ▲ |
| Q3-2024 | $569.4M | $231.2M | $119.7M | 21.02% | $2.79 | $209.7M |
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $514.5M ▼ | $3.56B ▼ | $2.04B ▲ | $1.51B ▼ |
| Q2-2025 | $541.6M ▼ | $3.63B ▲ | $2.02B ▲ | $1.61B ▲ |
| Q1-2025 | $559.2M ▲ | $3.59B ▲ | $1.98B ▲ | $1.61B ▼ |
| Q4-2024 | $551M ▼ | $3.55B ▼ | $1.93B ▼ | $1.62B ▲ |
| Q3-2024 | $601.7M | $3.57B | $2B | $1.57B |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $91.6M ▲ | $195.7M ▲ | $-33M ▼ | $-188.1M ▼ | $-29.3M ▼ | $160.1M ▲ |
| Q2-2025 | $89M ▲ | $99M ▲ | $-23.9M ▲ | $-108.5M ▼ | $-8M ▼ | $62.4M ▲ |
| Q1-2025 | $78.5M ▼ | $91M ▼ | $-70.7M ▼ | $-24.1M ▲ | $8.8M ▲ | $58.8M ▼ |
| Q4-2024 | $116.9M ▼ | $153.4M ▼ | $24.1M ▲ | $-199.1M ▼ | $-50.2M ▼ | $112.8M ▼ |
| Q3-2024 | $119.7M | $191.9M | $14.1M | $-60.2M | $161.7M | $155.8M |
Revenue by Geography
| Region | Q4-2024 | Q1-2025 | Q3-2025 | Q2-2025 |
|---|---|---|---|---|
 Asia | $0 ▲ | $0 ▲ | $10.00M ▲ | $10.00M ▲ |
 AUSTRALIA | $0 ▲ | $0 ▲ | $20.00M ▲ | $20.00M ▲ |
 CANADA | $0 ▲ | $0 ▲ | $40.00M ▲ | $40.00M ▲ |
 Europe excluding the United Kingdom | $0 ▲ | $0 ▲ | $60.00M ▲ | $60.00M ▲ |
 NonUnited States | $160.00M ▲ | $160.00M ▲ | $180.00M ▲ | $170.00M ▼ |
 Segment Geographical Group of Other Countries | $0 ▲ | $0 ▲ | $0 ▲ | $0 ▲ |
 UNITED STATES | $430.00M ▲ | $420.00M ▼ | $440.00M ▲ | $430.00M ▼ |
CEO
Kunal Kapoor CFA
Compensation Summary
(Year 2024)
Salary $525,000
Stock Awards $5,818,054
Incentive Plan Pay $2,275,320
All Other Compensation $17,251
Total Compensation $8,635,625
Industry Financial - Data & Stock Exchanges
Sector Financial Services
Went public May 3, 2005
Method of going public IPO
Full time employees 11,115
ETFs Holding This Stock
Summary
Total 219
Showing Top 3 of 219
Ratings Snapshot
Rating : B+
Discounted Cash Flow 4
Return On Equity 5
Return On Assets 5
Debt To Equity 2
Price To Earnings 2
Price To Book 1
Overall Score 3
Most Recent Analyst Grades
Grade Summary
Buy 1
Outperform 1
Showing Top 2 of 2
Price Target
Target High $320
Target Low $250
Target Median $285
Target Consensus $285
Institutional Ownership
VANGUARD GROUP INC
Shares:2.61M
Value:$574.27M
BLACKROCK INC.
Shares:2.54M
Value:$558.07M
BLACKROCK, INC.
Shares:2.39M
Value:$526.86M
Summary
% Of Shares Owned 48.94%
Total Number Of Holders 563
Showing Top 3 of 563