Morningstar, Inc. (MORN) Stock: Price, Forecast & Analyst Target
Morningstar, Inc. (MORN) — MoonshotScore 79/100 (Strong band), calculated Oct 4, 2026. Price $183.55 (-4.01%), as of the Oct 2, 2026 trading session; market cap $6.89B. Expected results Oct 28, 2026.
Educational signal · not a buy or sell recommendation · How to read this
Market value / cash and short-term investments: 13.15× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Oct 28, 2026
Morningstar, Inc. · MORN · NASDAQ · Financial Services · Financial - Data & Stock Exchanges
Research dated 2026-09-13: Morningstar sells investment research, portfolio management tools, and private market data to financial professionals and individuals. While often known for its mutual fund ratings, the bulk of its revenue actually comes from software licenses and data feeds rather than asset-based fees or individual transactions. The central question for the stock is whether professional subscribers will continue renewing expensive analytical platforms during broader market downturns.
Price as of Oct 2, 2026
Key Statistics
MoonshotScore v2 · Morningstar (MORN)
StrongWhy this rating? Method, drivers & history
Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.
- Business Quality — Is this a genuinely good business?
- Financial Safety — Could this blow up on me?
- Valuation — Am I paying a fair price?
- Growth Durability — Is the growth real and likely to last?
- Momentum — Is the market already moving on this?
Elite quality and durable growth, though the balance sheet is only middling. Business Quality: Elite; Financial Safety: Okay; Valuation: Rich; Growth Durability: Growing; Momentum: Quiet.
- quarterly revenue $663M (Q2 FY2026, quarter ended Jun 30, 2026)
- EPS beat 7 of 8
- Altman Z 3.44 · Piotroski F 7
Helping: business quality, durable growth
What has the MoonshotScore done over time?
| Recorded | Score | Band |
|---|---|---|
| 86 | Exceptional | |
| 85 | Exceptional | |
| 86 | Exceptional | |
| 86 | Exceptional | |
| 73 | Strong | |
| 73 | Strong |
The score was 79 in the stored Oct 3, 2026 snapshot and remains 79 in the current publication computed Oct 4, 2026 (0); the largest pillar moves were Momentum +1; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged.
Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.
Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →
Price & valuation
| Measure | Value |
|---|---|
| Latest provided price | $183.55 |
| Change on the day | -4.01% |
| 52-week range | $141.49–$228.95 |
| Market capitalisation | $6.89B |
| Price / earnings (trailing) | 17.30 |
| Shares traded on the day | 196.3K |
| Beta (volatility vs the S&P 500) | 1 |
| Dividends per share (last 12 months) | $2.00 |
| Dividend yield (last 12 months) | 1.09% |
Price & events
Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file. Numbers key to the dated list. Point at or tab to any week for its close.
Events behind the price
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
- · Earnings results · above the recorded estimate
Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.
Upcoming events
Chronological order, not a duration scale. The provider's estimated date can change.
What to watch nextOther perspectives
Council score for Morningstar (MORN): perspectives
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
9-Factor Breakdown
Legends Council
6 lenses, 0 current
AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built
Read on: Sep 8, 2026 · older than the 27 hours refresh window; not a current reading
Munger's Mindset
Balance Sheet & Valuation · historical
Read on: May 1, 2026 · older than the 27 hours refresh window; not a current reading
How to read these bars and different assessments
Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.
Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.
On May 1, 2026, the Munger lens read the price at that time as undervalued against its own estimate of value.
Readings on this page are from Oct 5, 2026, except a card that shows its own read date.
Watch the MORN film — every key number, told as a short cinematic story
~2 min · open the film
What is Morningstar (MORN), and what does it report?
Short answer · as of
Morningstar, Inc. provides independent investment insights for investors in the United States, Asia, Australia, Canada, Continental Europe, the United Kingdom, and internationally.
Research dated 2026-09-13.
The business operates as a financial data utility, packaging global market information, equity fundamentals, and credit ratings into subscription software.
Although retail investors interact with its free online portal, the underlying financial engine relies on professional clients paying recurring fees for tools like the PitchBook platform and advisor workstations.
The income statement reflects this structure, dominated by a massive license-based revenue segment that dwarfs both asset-based management fees and transaction-based credit ratings.
What do the latest results show for Morningstar (MORN)?
Short answer · as of
The most recent reported quarter, Q2 FY2026, carried revenue of $663M.
Research dated 2026-09-13.
Recent reporting periods demonstrate sustained top-line expansion, with revenue and net income rising in tandem across a long sequence of earnings cycles.
The company consistently clears analyst expectations for both sales and earnings, indicating that institutional demand for market data and portfolio tools remains robust.
Gross and operating margins have held steady, allowing the continuous sales growth to flow directly into a larger bottom line and strong operating cash generation.
Where is operating spending going?
Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.
- Latest quarter · revenue
- $663.20M Jun 30, 2026
- Latest quarter · SG&A
- $216.60M Jun 30, 2026
- Latest quarter · FMP standardized operating result
- $160.60M Jun 30, 2026
| Period end | Revenue | R&D | SG&A | FMP standardized operating result |
|---|---|---|---|---|
| Jun 30, 2026 | $663.20M | Not available | $216.60M | $160.60M |
| Mar 31, 2026 | $644.80M | Not available | $199.20M | $155.90M |
| Dec 31, 2025 | $641.10M | Not available | $208.80M | $159.60M |
| Sep 30, 2025 | $617.40M | Not available | $201.40M | $127.80M |
USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.
Did results meet expectations?
Reported earnings and revenue alongside the estimates recorded by the provider.
- Latest report · revenue
- $663.20M Jul 29, 2026
- Latest report · revenue estimate
- $649.71M Jul 29, 2026
- Latest report · revenue vs estimate
- Above estimate Jul 29, 2026
- Latest report · EPS vs estimate
- Above estimate Jul 29, 2026
| Report date | Revenue · reported | Revenue · estimate | EPS · reported | EPS · estimate |
|---|---|---|---|---|
| Jul 29, 2026 | $663.20M | $649.71M | $3.1000 | $2.8300 |
| Apr 29, 2026 | $644.80M | $626.91M | $3.1800 | $2.4100 |
| Feb 12, 2026 | $641.10M | $634.43M | $2.7100 | $2.3600 |
| Oct 29, 2025 | $617.40M | $634.43M | $2.5500 | $2.3400 |
Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.
Quarterly income statement — 4 quarters
| Period | Revenue | Net income | EPS |
|---|---|---|---|
| Q2 FY2026 | $663M | $108M | $2.83 (diluted) |
| Q1 FY2026 | $645M | $107M | $2.73 (diluted) |
| Q4 FY2025 | $641M | $115M | $2.83 (diluted) |
| Q3 FY2025 | $617M | $92M | $2.17 (diluted) |
What are the financial strengths and risks for Morningstar (MORN)?
Short answer
Cash and short-term investments were $523.80M at the Jun 30, 2026 balance-sheet date. Operating cash flow was $155.70M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.
Research dated 2026-09-13.
Operations generate substantial and consistent cash flow, easily funding capital expenditures and a regular dividend program.
However, the balance sheet carries a sizable debt load that significantly outweighs current cash and short-term investment reserves.
The primary financial vulnerability lies in this debt structure; if institutional budgets contract and license renewals stall, fixed debt obligations would consume a larger share of operating profits.
How much cash does the business generate or use?
Quarterly operating cash flow shows cash generated or used by operations.
- Latest quarter · operating cash flow
- $155.70M Jun 30, 2026
- Previous quarter · operating cash flow
- $91.50M Mar 31, 2026
| Period end | Operating cash flow | Capital expenditure (reported) |
|---|---|---|
| Jun 30, 2026 | $155.70M | −$33.20M |
| Mar 31, 2026 | $91.50M | −$37.90M |
| Dec 31, 2025 | $204.00M | −$42.70M |
| Sep 30, 2025 | $195.70M | −$35.60M |
Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.
USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.
What should you watch next at Morningstar (MORN)?
Short answer · as of
The next earnings report is expected on Oct 28, 2026.
Research dated 2026-09-13.
The upcoming earnings release will show whether the streak of revenue beats can persist against rising analyst estimates.
Observers should track the license-based segment specifically, as any deceleration there would signal that asset managers and advisors are cutting back on software spending.
Additionally, the pace of insider selling remains notable, and investors will look to see if executive share offloading slows down in the coming periods.
How does Morningstar compare with its peers?
Short answer
Morningstar's score ranks 6th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.
Research dated 2026-09-13.
Unlike asset managers whose fortunes fluctuate directly with broader market indices, this company insulates itself through rigid subscription contracts for its research and data platforms.
While competitors might rely heavily on trading volume or transaction fees, this business model prioritizes recurring technology licensing.
The inclusion of the PitchBook private market database further separates its offerings from traditional public equity data providers, creating a distinct product mix for institutional analysts.
| Company | Price | Market value | Score |
|---|---|---|---|
| $21.50 Oct 2, 2026 | $11.3B | 90 5-pillar Oct 4, 2026 | |
| $266.00 Oct 2, 2026 | $9.46B | 87 5-pillar Oct 4, 2026 | |
| $263.14 Oct 2, 2026 | $94.6B | 87 5-pillar Oct 4, 2026 | |
| $23.42 Oct 2, 2026 | $11.1B | 84 5-pillar Oct 4, 2026 | |
| $90.33 Oct 2, 2026 | $50.5B | 80 5-pillar Oct 4, 2026 | |
| Morningstar (MORN) — this page | $183.55 | $6.89B | 79 |
| $145.02 Oct 2, 2026 | $9.78B | 77 5-pillar Oct 4, 2026 | |
| $441.36 Oct 2, 2026 | $76.4B | 75 5-pillar Oct 4, 2026 | |
| $150.15 Oct 2, 2026 | $84.3B | 73 5-pillar Oct 4, 2026 | |
| $535.95 Oct 2, 2026 | $39.0B | 72 5-pillar Oct 4, 2026 | |
| $40.50 Oct 2, 2026 | $380M | 68 5-pillar Oct 4, 2026 | |
| $386.27 Oct 2, 2026 | $114B | 66 5-pillar Oct 4, 2026 | |
| $102.43 Oct 2, 2026 | $12.3B | 43 5-pillar Oct 4, 2026 |
Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.
The records behind this page
Analyst targets & estimates
What analysts have on file
- Price target, low to high
- $210.00 – $260.00
- Consensus target
- $227.33
- Median target
- $212.00
Consensus record · Captured .
Measured against a quoted price of $183.55 (as of Oct 2, 2026).
Insider activity
Form 4 records via FMP · Of the newest 60 records, those within the last 180 days, newest dated Sep 30, 2026
- Transactions
- 56
- Identified insiders
- 4
- Purchases
- 0
- Sales
- 52
- Other transactions
- 4
Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
Who holds the shares?
Institutional ownership reported through 13F filings.
- Institutional ownership
- 64.7% Period end Jun 30, 2026
- Previous quarter · ownership
- 60.3% Prior to period end Jun 30, 2026
- Reporting holders
- 426 Period end Jun 30, 2026
- Previous quarter · holders
- 454 Prior to period end Jun 30, 2026
| Holders in provider snapshot | Shares |
|---|---|
| Bamco INC /Ny/ | 3,499,146 |
| Blackrock, INC. | 2,081,736 |
| Wellington Management Group Llp | 1,493,037 |
| Morgan Stanley | 1,484,135 |
| Aqr Capital Management LLC | 1,304,388 |
Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.
What has been published about Morningstar (MORN)?
Common Questions About MORN (Financial Services)
Research dated 2026-09-13; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.
Where does Morningstar generate the majority of its sales?
The bulk of total revenue comes from license-based agreements rather than asset management or individual transactions. Professional clients paying recurring fees for data platforms form the financial foundation of the business.
How does the company reward shareholders with its operating cash flow?
The board authorizes a regular, recurring dividend distribution. Consistent operating cash flow easily covers these shareholder payments alongside routine capital expenditures.
Is the cash balance large enough to clear all existing liabilities?
Total borrowed funds greatly exceed the liquid assets held in cash and short-term investments. The company operates with a net debt position, relying on continuous operational cash generation to service its obligations.
Are company executives accumulating stock in the open market?
Recent regulatory filings show a clear pattern of insiders disposing of shares, with no open-market purchases recorded in the current monitoring window. Directors and officers have collectively reduced their holdings through numerous separate sale transactions.
What is the MORN stock price today?
The last price recorded on this page for Morningstar, Inc. (MORN) is $183.55, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.
What is the MORN price target?
The analyst consensus price target for Morningstar, Inc. (MORN) is $227.33 (range $210.00 to $260.00, median $212.00), per FMP data captured Oct 4, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.
Does MORN pay a dividend?
Yes. Morningstar, Inc. (MORN) shows a trailing 12-month dividend yield of 1.09%, as of Oct 2, 2026, in the data on this page. Payout ratio and cash-flow coverage decide whether it can last, and past dividends do not guarantee future payments.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Research written by Codex (gpt-5.6-sol) on 2026-09-13. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.
Sources — records for every figure on this page (81 figures)
The 81 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.
"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.
FMP — 72 facts from Financial Modeling Prep endpoint families
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.next | Next earnings date | Oct 28, 2026 | FMP | Financial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it. | |
px.last | Latest provided price | $183.55 | FMP | Financial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T21:24:37.672Z. | |
px.change | Change on the day | -4.01% | FMP | Financial Modeling Prep (FMP) · quote | |
px.mcap | Market capitalisation | $6.89B | FMP | Financial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:01.000Z. Captured from FMP at 2026-10-04T21:24:36.646Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares. | |
px.change_abs | Change on the day, in dollars | −$7.66 | FMP | Financial Modeling Prep (FMP) · quote | |
fin.q_revenue | Revenue, Q2 FY2026 | $663M | FMP | Financial Modeling Prep (FMP) · income statement (quarterly) | |
px.range52 | 52-week range | $141.49–$228.95 | FMP | Financial Modeling Prep (FMP) quote | |
px.pe | Price / earnings (trailing) | 17.30 | FMP | Financial Modeling Prep (FMP) · quote | |
px.volume | Shares traded on the day | 196.3K | FMP | Financial Modeling Prep (FMP) · quote | |
px.beta | Beta | 1 | FMP | Financial Modeling Prep (FMP) company profile | |
id.business_summary | Business description (FMP excerpt) | Morningstar, Inc. provides independent investment insights for investors in the United States, Asia, Australia, Canada, Continental Europe, the United Kingdom, and internationally. | FMP | Financial Modeling Prep (FMP) company profile — Deterministic excerpt derived from id.description; source and date describe the input fact, not a new provider observation | |
id.founder | Founder named in the filing | Joseph D. Mansueto — Founder & Executive Chairman of the Board | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it. | |
id.employees | Employees | 10,973 | FMP | Financial Modeling Prep (FMP) employee count, from the company's filing | |
id.hq | Headquarters | 22 West Washington Street, Chicago, IL, 60602, United States | FMP | Financial Modeling Prep (FMP) company profile | |
fin.annual | Revenue and net result by fiscal year | 5 fiscal years, FY2021 through FY2025: FY2021 revenue $1.70B, net result $193.30M; FY2022 revenue $1.87B, net result $70.50M; FY2023 revenue $2.04B, net result $141.10M; FY2024 revenue $2.28B, net result $369.90M; FY2025 revenue $2.45B, net result $374.20M | FMP | Financial Modeling Prep (FMP), from the company's 10-K income statements | |
fin.rev_mix | Reported revenue segments | Asset-Based $343.00M · Licensed-Based $1.72B · Transaction-Based $383.30M | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K | |
fin.gross_margin | Gross margin (trailing twelve months) | 62.2% | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.q_table.depth.2026-06-30.revenue_k | Revenue — period end 2026-06-30 | $663.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.sga_k | SG&A — period end 2026-06-30 | $216.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-06-30.operating_result_k | FMP standardized operating result — period end 2026-06-30 | $160.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.revenue_k | Revenue — period end 2026-03-31 | $644.80M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.sga_k | SG&A — period end 2026-03-31 | $199.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2026-03-31.operating_result_k | FMP standardized operating result — period end 2026-03-31 | $155.90M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.revenue_k | Revenue — period end 2025-12-31 | $641.10M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.sga_k | SG&A — period end 2025-12-31 | $208.80M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-12-31.operating_result_k | FMP standardized operating result — period end 2025-12-31 | $159.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.revenue_k | Revenue — period end 2025-09-30 | $617.40M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.sga_k | SG&A — period end 2025-09-30 | $201.40M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
fin.q_table.depth.2025-09-30.operating_result_k | FMP standardized operating result — period end 2025-09-30 | $127.80M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note |
earn.history.depth.2026-07-29.revenue_actual | Revenue · reported — report date 2026-07-29 | $663.20M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-29.revenue_estimated | Revenue · estimate — report date 2026-07-29 | $649.71M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-29.eps_actual | EPS · reported — report date 2026-07-29 | $3.1000 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-07-29.eps_estimated | EPS · estimate — report date 2026-07-29 | $2.8300 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.revenue_actual | Revenue · reported — report date 2026-04-29 | $644.80M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.revenue_estimated | Revenue · estimate — report date 2026-04-29 | $626.91M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.eps_actual | EPS · reported — report date 2026-04-29 | $3.1800 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-04-29.eps_estimated | EPS · estimate — report date 2026-04-29 | $2.4100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-12.revenue_actual | Revenue · reported — report date 2026-02-12 | $641.10M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-12.revenue_estimated | Revenue · estimate — report date 2026-02-12 | $634.43M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-12.eps_actual | EPS · reported — report date 2026-02-12 | $2.7100 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2026-02-12.eps_estimated | EPS · estimate — report date 2026-02-12 | $2.3600 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-29.revenue_actual | Revenue · reported — report date 2025-10-29 | $617.40M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-29.revenue_estimated | Revenue · estimate — report date 2025-10-29 | $634.43M | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-29.eps_actual | EPS · reported — report date 2025-10-29 | $2.5500 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
earn.history.depth.2025-10-29.eps_estimated | EPS · estimate — report date 2025-10-29 | $2.3400 | Report date · | FMP | Financial Modeling Prep (FMP) earnings — Earnings-history note |
fin.q_table | Quarterly income statement | 4 quarters through Q2 FY2026 | FMP | Financial Modeling Prep (FMP) · income statement (quarterly), as filed | |
fin.cash_investments | Cash and short-term investments | $523.80M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. | |
fin.opcf_latest | Latest-quarter operating cash flow | $155.70M | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate. | |
fin.long_term_investments | Long-term investments (classification unverified) | $49.80M | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.total_debt | Total debt | $1.90B | FMP | Financial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | |
fin.price_to_book | Price to book value | 6.78× | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero. | |
fin.opcf.depth.2026-06-30.operating_cash_flow_m | Operating cash flow — period end 2026-06-30 | $155.70M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.operating_cash_flow_m | Operating cash flow — period end 2026-03-31 | $91.50M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-06-30.capex_m | Capital expenditure (reported) — period end 2026-06-30 | −$33.20M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2026-03-31.capex_m | Capital expenditure (reported) — period end 2026-03-31 | −$37.90M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.operating_cash_flow_m | Operating cash flow — period end 2025-12-31 | $204.00M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-12-31.capex_m | Capital expenditure (reported) — period end 2025-12-31 | −$42.70M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.operating_cash_flow_m | Operating cash flow — period end 2025-09-30 | $195.70M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
fin.opcf.depth.2025-09-30.capex_m | Capital expenditure (reported) — period end 2025-09-30 | −$35.60M | Period end · | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note |
earn.pt_range | Analyst price target, low to high | $210.00 – $260.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_consensus | Consensus analyst price target | $227.33 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
earn.pt_median | Median analyst price target | $212.00 | FMP | Financial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied | |
own.insiders | Insider transactions via FMP | 56 transactions · 0 purchases, 52 sales, 4 other transactions · 4 identified insiders · of the newest 60 records, those within the last 180 days, newest dated Sep 30, 2026 | FMP | Financial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent. | |
own.institutions.depth.ownership_pct | Institutional ownership | 64.7% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.ownership_pct_previous_quarter | Previous quarter · ownership | 60.3% | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.institutions.depth.holders | Reporting holders | 426 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026 | |
own.institutions.depth.holders_previous_quarter | Previous quarter · holders | 454 | FMP | Financial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026 | |
own.top_holders.depth.holder_0.shares | Bamco INC /Ny/ — shares in provider snapshot | 3,499,146 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_1.shares | Blackrock, INC. — shares in provider snapshot | 2,081,736 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_2.shares | Wellington Management Group Llp — shares in provider snapshot | 1,493,037 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_3.shares | Morgan Stanley — shares in provider snapshot | 1,484,135 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. | |
own.top_holders.depth.holder_4.shares | Aqr Capital Management LLC — shares in provider snapshot | 1,304,388 | FMP | Financial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied. |
UNRECORDED — 2 facts from stored observations whose source was not recorded
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
earn.history | Reported versus estimated, recent quarters | EPS beat 7 of 8 | UNRECORDED | Stored earnings-history observation — Captured 2026-09-02 · Expired observation | |
fin.scores | Distress and quality screens | Altman Z 3.44 · Piotroski F 7 | UNRECORDED | Stored financial-scores observation — Captured 2026-10-03 · Expired observation |
COMPUTED — 5 facts from our arithmetic, formula restated
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
fin.mcap_to_cash | Market value per dollar of cash and short-term investments | 13.15× | — | COMPUTED | Computed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $523.80M at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio. |
div.ttm_per_share | Dividends per share, last 12 months (split-adjusted) | $2.00 | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history — Sum of 4 split-adjusted declared dividends with an ex-date in the 365 days to 2026-10-04, per current share. Ex-dates are not payment dates; special dividends are included. Not a declared annual rate. | |
div.ttm_yield | Dividend yield, last 12 months | 1.09% | COMPUTED | Financial Modeling Prep (FMP) split-adjusted dividend history and quote — Split-adjusted dividends with ex-dates in the trailing 365-day window divided by the packet price, on the same current-share basis. Price date follows the quote, latest price bar or packet-build day when unstamped. Not a forecast or declared annual rate. | |
earn.history.depth.2026-07-29.revenue_actual.comparison | Latest report · revenue vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($663.20M) with the recorded estimate ($649.71M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
earn.history.depth.2026-07-29.eps_actual.comparison | Latest report · EPS vs estimate | Above estimate | Report date · | COMPUTED | Computed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($3.1000) with the recorded estimate ($2.8300) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns. |
OURS — 2 facts from Stock Expert AI's own score and rank
| Fact ID | Fact | Value as shown | As of | Tier | Source |
|---|---|---|---|---|---|
ours.moonshot | MoonshotScore v2 | 79 of 100 · Strong · pillars 98 / 40 / 38 / 68 / 47 | OURS | Stock Expert AI MoonshotScore v2 engine | |
ours.moonshot_change | MoonshotScore movement | 79 (stored snapshot Oct 3, 2026) → 79 (current publication computed Oct 4, 2026) (0) | OURS | Stock Expert AI current score publication and immutable score snapshots |
Fact-family notes
- Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs:
fin.q_table.depth.2026-06-30.revenue_k,fin.q_table.depth.2026-06-30.sga_k,fin.q_table.depth.2026-06-30.operating_result_k,fin.q_table.depth.2026-03-31.revenue_k,fin.q_table.depth.2026-03-31.sga_k,fin.q_table.depth.2026-03-31.operating_result_k,fin.q_table.depth.2025-12-31.revenue_k,fin.q_table.depth.2025-12-31.sga_k,fin.q_table.depth.2025-12-31.operating_result_k,fin.q_table.depth.2025-09-30.revenue_k,fin.q_table.depth.2025-09-30.sga_k,fin.q_table.depth.2025-09-30.operating_result_k. - Earnings-history note. Source series as of 2026-07-29. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs:
earn.history.depth.2026-07-29.revenue_actual,earn.history.depth.2026-07-29.revenue_estimated,earn.history.depth.2026-07-29.revenue_actual.comparison,earn.history.depth.2026-07-29.eps_actual.comparison,earn.history.depth.2026-07-29.eps_actual,earn.history.depth.2026-07-29.eps_estimated,earn.history.depth.2026-04-29.revenue_actual,earn.history.depth.2026-04-29.revenue_estimated,earn.history.depth.2026-04-29.eps_actual,earn.history.depth.2026-04-29.eps_estimated,earn.history.depth.2026-02-12.revenue_actual,earn.history.depth.2026-02-12.revenue_estimated,earn.history.depth.2026-02-12.eps_actual,earn.history.depth.2026-02-12.eps_estimated,earn.history.depth.2025-10-29.revenue_actual,earn.history.depth.2025-10-29.revenue_estimated,earn.history.depth.2025-10-29.eps_actual,earn.history.depth.2025-10-29.eps_estimated. - Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs:
fin.opcf.depth.2026-06-30.operating_cash_flow_m,fin.opcf.depth.2026-03-31.operating_cash_flow_m,fin.opcf.depth.2026-06-30.capex_m,fin.opcf.depth.2026-03-31.capex_m,fin.opcf.depth.2025-12-31.operating_cash_flow_m,fin.opcf.depth.2025-12-31.capex_m,fin.opcf.depth.2025-09-30.operating_cash_flow_m,fin.opcf.depth.2025-09-30.capex_m.
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Sources used for research written 2026-09-13
Historical evidence preserved with this analysis. Current figures are listed separately above.
| Evidence | Captured value | Source date | Source type | Source |
|---|---|---|---|---|
| Business description | 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. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Revenue by segment | Asset-Based: $343.00M; Licensed-Based: $1.72B; Transaction-Based: $383.30M | 2025-12-31 | FMP | Financial Modeling Prep (FMP) revenue segmentation, from the company's 10-K |
| Sector / industry (provider taxonomy) | Financial Services / Financial - Data & Stock Exchanges The company's SEC filings classify it under SIC 6282 — Investment Advice. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) company profile |
| Quarterly income statement (USD thousands) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements |
| Reported versus estimated, last 8 quarters | Captured record · 8 entries
| 2026-07-29 | FMP | Financial Modeling Prep (FMP) earnings |
| Operating cash flow by quarter (USD millions) | Captured record · 8 entries
| 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's 10-Q cash-flow statements |
| Trailing twelve-month ratio set | Quick ratio: 1.06; Current ratio: 1.06; Debt to equity: 1.86; Net margin: 16.4%; Gross margin: 62.2%; Operating margin: 23.5%; Return on assets: 10.7%; Return on equity: 35.3% Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm |
| Cash, investments and debt | Total debt: $1.90B; Liquidity basis: cash and short-term investments; Total liabilities: $2.92B; Cash and short-term investments: $523.80M; Cash and investments: $573.60M; Long-term investments: $49.80M; Long-term investments classification: unclassified Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. | 2026-06-30 | FMP | Financial Modeling Prep (FMP), from the company's balance sheet |
| Recent dividends paid | Captured record · 4 entries
Declared amounts per share on their ex-dates. A single payment does not establish an annual rate, and a special dividend is not separated here. | 2026-07-10 | FMP | Financial Modeling Prep (FMP) dividend history |
| Cash against market value | As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$1.38B; Total debt: $1.90B; Cash and investments: $523.80M Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them. | 2026-06-30 | COMPUTED | Computed from the balance sheet and the latest market capitalization |
| Next earnings report | Date: 2026-10-28; EPS estimate: $2.97 per share; Revenue estimate: $657.28M The date is our provider's estimate until the company confirms it. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) earnings calendar |
| Analyst revenue and earnings estimates (average) | Captured record · 4 entries
At most 3 analysts contributed — treat this as thin coverage, not a consensus. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) analyst estimates |
| Insider transactions, last 180 days | Net shares: -461,215; Window days: 180; Price low: $194.96; Price high: $221.12; Buy transactions: 0; Distinct insiders: 4; Sell transactions: 54; Other transactions: 4; Total transactions: 58; Other transaction types: G-Gift: 1, J-Other: 1, F-InKind: 2; Unknown direction transactions: 0 Purchase and sale counts require explicit provider transaction types, without a conflicting acquisition/disposition direction. Other transactions retain their provider type; awards, exercises, gifts and in-kind transactions are not counted as purchases or sales. Net shares sums acquired minus disposed shares across direction-known records, including other transaction types; unknown directions are excluded. It is not net purchases or a verified change in beneficial ownership. Named-insider counts, same-day clusters and positive reported prices cover all retained records. Filing dates are used only when transaction dates are absent. Neither timing nor price establishes motive or whether a transaction was on the open market. | 2026-09-01 | FMP | Financial Modeling Prep (FMP) insider transactions, from Form 4 filings |
| Next scheduled dividend | Ex date: 2026-10-02; Declared on: 2025-12-05; Record date: 2026-10-02; Payment date: 2026-10-30; Amount per share: $0.5 Amount is per share as declared, before any withholding. Owning the share before the ex-date is what carries entitlement. | 2025-12-05 | FMP | Financial Modeling Prep (FMP) dividend calendar |
| Named officers | CEO: Kunal Kapoor; Officers: Michael Holt — Title: Chief Financial Officer, Pay: $1.34M, Born: 1980; Kunal Kapoor — Title: Chief Executive Officer & Director, Pay: $2.82M, Born: 1975; Conan Wiersema — Title: Chief Accounting Officer & Principal Accounting Officer, Born: 1979; David W. Williams — Title: Chief Design Officer, Pay: $336,820, Born: 1961; Thomas Mark Idzorek — Title: Head of Investment Methodology & Economic Research, Pay: $631,499, Born: 1971; Joseph D. Mansueto — Title: Founder & Executive Chairman of the Board, Pay: $105,250, Born: 1956; Kathleen Peacock — Title: Chief Legal Officer; Marie Trzupek Lynch — Title: Chief People Officer Titles and pay come from the company's proxy statement as our provider parsed it. | 2026-09-13 | FMP | Financial Modeling Prep (FMP) key executives (proxy-derived) |
Data provided for informational purposes only.
ETFs that hold MORN
Funds in our ETF coverage that list MORN among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.
| ETF | Weight | Holdings as of |
|---|---|---|
| Harbor Active Small Cap ETF (SMLL) (SMLL) | 3.44% | |
| DWSH ETF | 1.08% |