MORN Stock Analysis: Morningstar | NASDAQ
Financial Data & Stock Exchanges | NASDAQ, USA | Market Cap: 8.165m USD | 12M Return: -18% | US6177001095 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 60.2M
EPS Trend: 93.5%
Qual. Beats: 3
Rev. Trend: 99.5%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Morningstar, Inc. is a Chicago-based financial data and investment research company founded in 1984 and listed on NASDAQ since 2005. It operates across the United States, Asia, Australia, Canada, and Europe, serving investors, financial advisors, asset managers, and institutional clients.
The company is organized into five segments: Morningstar Direct Platform, PitchBook, Morningstar Credit, Morningstar Wealth, and Morningstar Retirement. These segments cover a broad range of services, including managed investment products (mutual funds, ETFs, separate accounts, and model portfolios), advisor-facing software tools, private capital market data through PitchBook, credit ratings and analytics (via Morningstar DBRS), discretionary wealth management, and retirement account services.
Beyond its core research offerings, Morningstar operates Sustainalytics, which provides environmental, social, and governance (ESG) data and ratings, and Morningstar Indexes, which supplies benchmark indexes used as the basis for investment products and portfolio strategies. Its consumer-facing platforms include Morningstar.com and the Morningstar Investor app for individual investors.
Morningstar sits within the Financial Exchanges & Data subsector of the Financials GICS sector, alongside other financial data, index, and ratings providers. A distinguishing feature of its business model is that a meaningful share of revenue comes from subscription-based software, data feeds, and credit ratings rather than from asset management fees alone, which provides a mix of recurring and asset-linked income streams.
- PitchBook private markets data drives subscription revenue growth
- DBRS credit ratings segment pursues expanded regulatory recognition globally
- Wealth and retirement AUM-linked fees exposed to market corrections
| Net Income: 421.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 1.87 > 1.0 |
| NWC/Revenue: 2.13% < 20% (prev 5.17%; Δ -3.04% < -1%) |
| CFO/TA 0.16 > 3% & CFO 646.9m > Net Income 421.6m |
| Net Debt (1.57b) to EBITDA (812.1m): 1.94 < 3 |
| Current Ratio: 1.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (38.1m) vs 12m ago -10.98% < -2% |
| Gross Margin: 62.24% > 18% (prev 60.94%; Δ 1.30% > 0.5%) |
| Asset Turnover: 67.75% > 50% (prev 64.66%; Δ 3.09% > 0%) |
| Interest Coverage Ratio: 11.45 > 6 (EBIT TTM 612.8m / Interest Expense TTM 53.5m) |
| A: 0.01 (Total Current Assets 1.03b - Total Current Liabilities 980.3m) / Total Assets 3.95b |
| B: 0.60 (Retained Earnings 2.38b / Total Assets 3.95b) |
| C: 0.16 (EBIT TTM 612.8m / Avg Total Assets 3.79b) |
| D: 0.35 (Book Value of Equity 1.02b / Total Liabilities 2.92b) |
| Altman-Z'' = 3.51 = A |
| DSRI: 0.90 (Receivables 395.6m/402.0m, Revenue 2.57b/2.35b) |
| GMI: 0.98 (GM 60.94% / 62.24%) |
| AQI: 1.05 (AQ_t 0.64 / AQ_t-1 0.61) |
| SGI: 1.09 (Revenue 2.57b / 2.35b) |
| TATA: -0.06 (NI 421.6m - CFO 646.9m) / TA 3.95b) |
| Beneish M = -3.04 (Cap -4..+1) = AA |
As of September 06, 2026, the stock is trading at USD 209.40 with a total of 269,209 shares traded. Over the past week, the price has changed by -3.79%, over one month by +4.57%, over three months by +14.20% and over the past year by -18.03%.
Current recommended Stop Loss: 199.70 (which is 4.6% or 1.3 ATR below the current price).
Morningstar has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy MORN.
- StrongBuy: 1
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 236.7 | 13% |
P/E Trailing = 20.8078
P/E Forward = 16.2866
P/S = 3.1813
P/B = 8.0175
P/EG = 2.31
Revenue TTM = 2.57b USD
EBIT TTM = 612.8m USD
EBITDA TTM = 812.1m USD
Long Term Debt = 1.70b USD (from longTermDebt, last quarter)
Short Term Debt = 60.0m USD (from shortTermDebt, last quarter)
Debt = 2.10b USD (from shortLongTermDebtTotal, last quarter) + Leases 191.5m
Net Debt = 1.57b USD (calculated: Debt 2.10b - CCE 523.8m)
Enterprise Value = 9.74b USD (8.16b + Debt 2.10b - CCE 523.8m)
Interest Coverage Ratio = 11.45 (Ebit TTM 612.8m / Interest Expense TTM 53.5m)
EV/FCF = 19.57x (Enterprise Value 9.74b / FCF TTM 497.5m)
FCF Yield = 5.11% (FCF TTM 497.5m / Enterprise Value 9.74b)
FCF Margin = 19.38% (FCF TTM 497.5m / Revenue TTM 2.57b)
Net Margin = 16.43% (Net Income TTM 421.6m / Revenue TTM 2.57b)
Gross Margin = 62.24% ((Revenue TTM 2.57b - Cost of Revenue TTM 969.1m) / Revenue TTM)
Gross Margin QoQ = 63.92% (prev 62.95%)
Tobins Q-Ratio = 2.47 (Enterprise Value 9.74b / Total Assets 3.95b)
Interest Expense / Debt = 2.55% (Interest Expense 53.5m / Debt 2.10b)
Taxrate = 24.98% (140.7m / 563.2m)
NOPAT = 459.7m (EBIT 612.8m * (1 - 24.98%))
Current Ratio = 1.06 (Total Current Assets 1.03b / Total Current Liabilities 980.3m)
Debt / Equity = 2.05 (Debt 2.10b / totalStockholderEquity, last quarter 1.02b)
Debt / EBITDA = 1.94 (Net Debt 1.57b / EBITDA 812.1m)
Debt / FCF = 3.16 (Net Debt 1.57b / FCF TTM 497.5m)
Total Stockholder Equity = 1.19b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.13% (Net Income 421.6m / Total Assets 3.95b)
RoE = 35.29% (Net Income TTM 421.6m / Total Stockholder Equity 1.19b)
RoCE = 21.21% (EBIT 612.8m / Capital Employed (Equity 1.19b + L.T.Debt 1.70b))
RoIC = 15.87% (NOPAT 459.7m / Invested Capital 2.90b)
WACC = 6.08% (E(8.16b)/V(10.3b) * Re(7.15%) + D(2.10b)/V(10.3b) * Rd(2.55%) * (1-Tc(0.25)))
Discount Rate = 7.15% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -83.82 | Cagr: -5.24%
[DCF] Terminal Value 77.97% ; FCFF base≈454.4m ; Y1≈520.9m ; Y5≈766.7m
[DCF] Fair Price = 265.6 (EV 11.5b - Net Debt 1.57b = Equity 9.96b / Shares 37.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 93.52 | EPS CAGR: 54.21% | SUE: 1.09 | # QB: 3
Revenue Correlation: 99.45 | Revenue CAGR: 9.50% | SUE: 0.07 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.97 | Chg30d=+2.34% | Revisions=+40% | Analysts=2
EPS current Year (2026-12-31): EPS=12.32 | Chg30d=+3.32% | Revisions=+50% | GrowthEPS=+24.9% | GrowthRev=+8.3%
EPS next Year (2027-12-31): EPS=13.94 | Chg30d=+3.58% | Revisions=+50% | GrowthEPS=+13.2% | GrowthRev=+5.8%
[Analyst] Revisions Ratio: +73% (up=8, down=0)