Morningstar, Inc. (MORN)
NASDAQ: MORN · Real-Time Price · USD
192.73
+2.58 (1.36%)
Mar 9, 2026, 3:39 PM EDT - Market open
Morningstar Income Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Year | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | 2020 - 2016 |
|---|---|---|---|---|---|---|
Period Ending | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | 2020 - 2016 |
| Revenue | 2,446 | 2,275 | 2,039 | 1,871 | 1,699 | Upgrade
|
| Revenue Growth (YoY) | 7.49% | 11.60% | 8.98% | 10.08% | 22.30% | Upgrade
|
| Cost of Revenue | 952.9 | 895.7 | 843.5 | 779.3 | 698.4 | Upgrade
|
| Gross Profit | 1,493 | 1,379 | 1,195 | 1,091 | 1,001 | Upgrade
|
| Selling, General & Admin | 796.5 | 768.2 | 779.6 | 731 | 593.2 | Upgrade
|
| Operating Expenses | 986.4 | 958.6 | 964.5 | 897.6 | 743.9 | Upgrade
|
| Operating Income | 506.2 | 420.8 | 230.6 | 193.7 | 257 | Upgrade
|
| Interest Expense | -40 | -49.9 | -51.7 | -28.4 | -8.7 | Upgrade
|
| Interest & Investment Income | 11.4 | 12.2 | - | - | - | Upgrade
|
| Earnings From Equity Investments | -3.3 | -17.4 | -19.2 | -3.6 | 5.4 | Upgrade
|
| Currency Exchange Gain (Loss) | 1 | -1.1 | 14.4 | -6.7 | -3.7 | Upgrade
|
| EBT Excluding Unusual Items | 475.3 | 364.6 | 174.1 | 155 | 250 | Upgrade
|
| Merger & Restructuring Charges | -4.5 | - | - | -25.9 | - | Upgrade
|
| Gain (Loss) on Sale of Investments | - | - | - | -2.1 | 5.9 | Upgrade
|
| Gain (Loss) on Sale of Assets | 22.7 | 109.3 | - | - | - | Upgrade
|
| Other Unusual Items | 2.2 | - | - | - | - | Upgrade
|
| Pretax Income | 495.7 | 473.9 | 174.1 | 127 | 255.9 | Upgrade
|
| Income Tax Expense | 121.5 | 104 | 33 | 56.5 | 62.6 | Upgrade
|
| Earnings From Continuing Operations | 374.2 | 369.9 | 141.1 | 70.5 | 193.3 | Upgrade
|
| Net Income | 374.2 | 369.9 | 141.1 | 70.5 | 193.3 | Upgrade
|
| Net Income to Common | 374.2 | 369.9 | 141.1 | 70.5 | 193.3 | Upgrade
|
| Net Income Growth | 1.16% | 162.16% | 100.14% | -63.53% | -13.55% | Upgrade
|
| Shares Outstanding (Basic) | 42 | 43 | 43 | 43 | 43 | Upgrade
|
| Shares Outstanding (Diluted) | 42 | 43 | 43 | 43 | 43 | Upgrade
|
| Shares Change (YoY) | -2.09% | 0.47% | - | -1.15% | 0.46% | Upgrade
|
| EPS (Basic) | 8.93 | 8.64 | 3.31 | 1.65 | 4.50 | Upgrade
|
| EPS (Diluted) | 8.87 | 8.58 | 3.29 | 1.64 | 4.45 | Upgrade
|
| EPS Growth | 3.38% | 160.79% | 100.61% | -63.15% | -14.09% | Upgrade
|
| Free Cash Flow | 442.6 | 448.9 | 197.3 | 168.3 | 348.1 | Upgrade
|
| Free Cash Flow Per Share | 10.49 | 10.41 | 4.60 | 3.92 | 8.02 | Upgrade
|
| Dividend Per Share | 1.865 | 1.670 | 1.530 | 1.460 | 1.310 | Upgrade
|
| Dividend Growth | 11.68% | 9.15% | 4.79% | 11.45% | 7.38% | Upgrade
|
| Gross Margin | 61.03% | 60.63% | 58.62% | 58.34% | 58.90% | Upgrade
|
| Operating Margin | 20.70% | 18.50% | 11.31% | 10.36% | 15.12% | Upgrade
|
| Profit Margin | 15.30% | 16.26% | 6.92% | 3.77% | 11.38% | Upgrade
|
| Free Cash Flow Margin | 18.10% | 19.73% | 9.68% | 9.00% | 20.48% | Upgrade
|
| EBITDA | 593.4 | 516.3 | 334.3 | 296 | 347.8 | Upgrade
|
| EBITDA Margin | 24.27% | 22.69% | 16.40% | 15.82% | 20.47% | Upgrade
|
| D&A For EBITDA | 87.2 | 95.5 | 103.7 | 102.3 | 90.8 | Upgrade
|
| EBIT | 506.2 | 420.8 | 230.6 | 193.7 | 257 | Upgrade
|
| EBIT Margin | 20.70% | 18.50% | 11.31% | 10.36% | 15.12% | Upgrade
|
| Effective Tax Rate | 24.51% | 21.95% | 18.95% | 44.49% | 24.46% | Upgrade
|
Source: S&P Capital IQ. Standard template. Financial Sources.