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Companies/Morningstar, Inc.
Company profile

Morningstar, Inc.

NASDAQ: MORN · Financial Services · Financial - Data & Stock Exchanges
PublicHQ Chicago, IL · CookCIK 0001289419Reports USD
#105 of 1,011 Financial Services companies by revenue49th-percentile growth
EA Score
83B+
FH 83DQ 92GM 62SS 84
v0.1 · 65/100 weight · provisional
↑ return on equity, workforce scale · ↓ 3-yr revenue growth, revenue growth (YoY)
Methodology →
Revenue TTM
$2.5B
Rev growth YoY (TTM)
+8.4%
Net income (FY)
$374.2M
Employees
11,115
Market cap
$6.3B
OverviewFinancialsSegmentsFilingsESGPeople & Places

Financials — latest annual

SEC EDGAR · USD-normalized
ConceptUSDNativeFY
Revenue$2.4B$2.4B2025
Net income$374.2M$374.2M2025
Operating income$526.6M$526.6M2025
Total assets$3.6B$3.6B2025
Liabilities$2.4B$2.4B2025
Equity$1.2B$1.2B2025

Revenue trend

FY2020 – FY2025 · USD
$327.9M
FY20
$357.2M
FY20
$1.4B
FY20
$1.7B
FY21
$1.9B
FY22
$2.0B
FY23
$2.3B
FY24
$2.4B
FY25

Revenue by segment

Filed disclosures · FY2025
By product
Licensed-Based70%
Transaction-Based16%
Asset-Based14%
By geography
UNITED STATES60%
Non United States23%
Europe excluding the United Kingdom7%
CANADA5%
AUSTRALIA2%
Asia2%
The read

Morningstar, Inc. booked $2.4B in FY2025 revenue, growing 7.5% year over year — about the middle of the pack among Financial Services companies we track, at a 15.3% net margin.

Peers · Financial Services
Enact Holdings Inc.67BUnited Bankshares, Inc.57CFigure Technology Solutions, Inc. Class A Common Stock46DSezzle Inc.69B
Neighbors
Cook →
McDonald's Corporation$26.9B81B+CME Group Inc.$6.5B79B+Illinois Tool Works Inc.$16.0B86AMondelez International, Inc.$38.5B81B+Motorola Solutions, Inc.$11.7B83B+Arthur J. Gallagher & Co.$13.9B76B+
Key facts
CEOKunal Kapoor
SectorFinancial Services
IndustryFinancial - Data & Stock Exchanges
HeadquartersChicago, IL
ExchangeNASDAQ: MORN
Employees11,115
IPO date2005-05-03
Latest filings
8-K2026-06-258-K2026-06-188-K2026-05-228-K2026-05-088-K2026-04-2910-Q2026-04-29DEF 14A2026-03-278-K2026-03-25
Financials: SEC EDGAR (XBRL), USD-normalized per IAS 21 · TTM/quarterly + segments: FMP from filed disclosures · Filings: EDGAR submissions. County headcount and EA Score are in progress — see docs/DATA_GAPS.md.
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