Morningstar, Inc. (MORN)
Full history for every metric is available with a Kvantra account
No price history available.
Key financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Total revenue | $m | 1,390 | 1,699 | 1,871 | 2,039 | 2,275 | 2,446 | 2,567 | 2,649 |
| Operating profit | $m | 527 | 604 | ||||||
| Net profit | $m | 224 | 193 | 71 | 141 | 370 | 374 | 422 | 520 |
| EPS reported | $ | 8.87 | 10.56 | ||||||
| Operating cashflow per share | $ | 14.07 | 17.11 | ||||||
| Capex per share | $ | 3.51 | 3.95 | ||||||
| FCF per share | $ | 10.56 | 13.16 | ||||||
| Free cash flow | $m | 443 | 498 | ||||||
| Net debt | $m | 691 | 1,190 | ||||||
| Book value equity | $m | 1,222 | 1,024 | ||||||
| Book value per share | $ | 28.95 | 26.87 | ||||||
| Number of shares | m | 42.2 | 38.1 | ||||||
| DPS (TTM paid) | $ | 1.82 | 2.46 |
Financial summary
Financials in USD| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM | 2026E | ||
|---|---|---|---|---|---|---|---|---|---|
| Value | |||||||||
| P/E TTM | x | 24.50 | 18.56 | ||||||
| P/B LTM | x | 7.45 | 8.89 | ||||||
| P/S LTM | x | 3.72 | 3.55 | ||||||
| P/FCF LTM | x | 20.57 | 18.30 | ||||||
| EV/EBITDA LTM | x | 13.77 | 12.36 | ||||||
| EV/Sales LTM | x | 4.10 | 3.58 | ||||||
| Earnings Yield LTM | % | +4.08% | +5.39% | ||||||
| FCF Yield | % | +4.86% | +5.46% | ||||||
| Quality | |||||||||
| ROE | % | +30.62% | +35.29% | ||||||
| ROIC | % | +15.42% | +14.97% | ||||||
| Operating margin | % | +21.53% | +23.53% | ||||||
| Gross margin | % | +61.03% | +62.24% | ||||||
| FCF/Sales | % | +18.10% | +19.38% | ||||||
| Growth and momentum | |||||||||
| EPS Growth YoY | % | +3.38% | +23.08% | ||||||
| Sales Growth YoY | % | +7.49% | +12.81% | ||||||
| Net Income Growth YoY | % | +1.16% | +13.98% | ||||||
| FCF Growth | % | -1.40% | +10.83% | ||||||
| Operating Profit Growth | % | +8.62% | +24.57% | ||||||
| Dividend and capital structure | |||||||||
| Dividend Yield | % | +0.84% | +0.94% | ||||||
| Dividend Growth | % | +12.35% | +51.54% | ||||||
| Payout Ratio | % | +20.54% | +18.15% | ||||||
| FCF/Debt | x | 0.31 | 0.26 | ||||||
| Net Debt/EBITDA | x | 1.28 | 1.74 | ||||||
| EBIT/Net interest | x | 13.17 | 11.29 | ||||||
| Net debt/market cap | % | +13.39% | +22.02% | ||||||
| Net debt/Equity | x | 0.57 | 1.16 | ||||||
| Gross debt/equity | x | 1.15 | 1.86 | ||||||
Price target estimates
Based on consensus from external analysts. Not Kvantra's opinion.
Ratings
Based on consensus from external analysts. Not Kvantra's opinion.
ESG
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| ESG-score | |||
| Environmental score | |||
| Social score | |||
| Governance score | |||
| Risk rating |
Company overview
Morningstar, Inc. operates as a leading global provider of independent investment research and insights, catering to clients across North America, Europe, Australia, and Asia. The firm delivers a comprehensive range of services, including sophisticated web-based analytical tools, extensive investment data, and specialized research focusing on fundamental equity, manager selection, and private capital markets. Additionally, Morningstar offers credit and fund ratings, ESG (environmental, social, and governance) ratings, and index solutions. Its product suite also encompasses various investment offerings, such as managed portfolios, data on both publicly traded and private companies, fixed income securities, and real-time global market information. These services are designed to serve a diverse client base, including financial advisors, asset management companies, retirement plan administrators and sponsors, alongside individual and institutional investors. Among its key offerings are: Morningstar Data: A vast repository of investment intelligence, encompassing equity fundamentals, managed investments, ESG factors, and market data. Morningstar Direct: An advanced platform built for in-depth investment analysis. Morningstar Managed Portfolios: A model portfolio service tailored for independent financial advisors, also providing asset allocation strategies for asset managers, broker/dealers, and insurance providers. Morningstar Advisor Workstation: A web-based platform enabling research, financial planning, and the generation of proposals. Morningstar.com: The company's dedicated online portal for individual investors. Furthermore, Morningstar provides Morningstar Enterprise Components and Morningstar Credit Ratings, which offer issuance and surveillance capabilities for structured finance products, corporate credit evaluations, and operational risk assessments. It also creates Morningstar Indexes for developing specialized investment products and offers workplace solutions, including retirement accounts, fiduciary services, allocation funds, and custom models. Through its PitchBook Platform, the company provides a robust research and analysis workstation for investment and research professionals, supplemented by a mobile application, an Excel plug-in, data feeds, and various data solutions. Morningstar, Inc. was founded in 1984 and has its corporate headquarters situated in Chicago, Illinois.
Similar companies
For informational purposes only. Kvantra provides data and quantitative analysis, not investment advice. KvantraRank is a mechanical model output. Analyst price targets and ratings are sourced from third parties and are not Kvantra recommendations. Past performance does not guarantee future results; all investments carry risk.
Morningstar, Inc. (MORN)
No price history available.
Consensus from external analysts. Not Kvantra's opinion.
Based on consensus from external analysts. Not Kvantra's opinion.
Morningstar, Inc. operates as a leading global provider of independent investment research and insights, catering to clients across North America, Europe, Australia, and Asia. The firm delivers a comprehensive range of services, including sophisticated web-based analytical tools, extensive investment data, and specialized research focusing on fundamental equity, manager selection, and private capital markets. Additionally, Morningstar offers credit and fund ratings, ESG (environmental, social, and governance) ratings, and index solutions. Its product suite also encompasses various investment offerings, such as managed portfolios, data on both publicly traded and private companies, fixed income securities, and real-time global market information. These services are designed to serve a diverse client base, including financial advisors, asset management companies, retirement plan administrators and sponsors, alongside individual and institutional investors. Among its key offerings are: Morningstar Data: A vast repository of investment intelligence, encompassing equity fundamentals, managed investments, ESG factors, and market data. Morningstar Direct: An advanced platform built for in-depth investment analysis. Morningstar Managed Portfolios: A model portfolio service tailored for independent financial advisors, also providing asset allocation strategies for asset managers, broker/dealers, and insurance providers. Morningstar Advisor Workstation: A web-based platform enabling research, financial planning, and the generation of proposals. Morningstar.com: The company's dedicated online portal for individual investors. Furthermore, Morningstar provides Morningstar Enterprise Components and Morningstar Credit Ratings, which offer issuance and surveillance capabilities for structured finance products, corporate credit evaluations, and operational risk assessments. It also creates Morningstar Indexes for developing specialized investment products and offers workplace solutions, including retirement accounts, fiduciary services, allocation funds, and custom models. Through its PitchBook Platform, the company provides a robust research and analysis workstation for investment and research professionals, supplemented by a mobile application, an Excel plug-in, data feeds, and various data solutions. Morningstar, Inc. was founded in 1984 and has its corporate headquarters situated in Chicago, Illinois.
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