(MORN) Morningstar - Overview
Exchange: NASDAQ •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US6177001095
Stock: Investment Research, Data Platforms, Credit Ratings, Retirement
Total Rating 43
Risk 91
Buy Signal -0.76
| Risk 5d forecast | |
|---|---|
| Volatility | 31.0% |
| Relative Tail Risk | -3.75% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.36 |
| Alpha | -51.69 |
| Character TTM | |
|---|---|
| Beta | 0.773 |
| Beta Downside | 0.990 |
| Drawdowns 3y | |
|---|---|
| Max DD | 56.70% |
| CAGR/Max DD | 0.00 |
EPS (Earnings per Share)
Revenue
Description: MORN Morningstar March 02, 2026
Morningstar, Inc. (NASDAQ: MORN) delivers independent investment research and data across a global client base, operating through five core segments: Morningstar Direct Platform, PitchBook, Morningstar Credit, Morningstar Wealth, and Morningstar Retirement. Its product suite spans managed investment vehicles, analytics platforms, ESG ratings (Sustainalytics), and proprietary indexes.
In FY 2025 the company reported $1.85 billion in revenue, a 12 % year-over-year increase driven primarily by strong growth in its PitchBook subscription base (+18 %) and higher adoption of the Morningstar Direct platform among institutional advisors. Operating margin expanded to 18 %, and the firm now serves roughly 7,200 institutional clients worldwide.
Key sector drivers include accelerating demand for ESG and private-capital market data as investors allocate more capital to sustainable and alternative assets, while a low-interest-rate environment continues to boost the relevance of Morningstar’s credit analytics and fixed-income solutions. Additionally, the broader financial-data industry benefits from rising regulatory scrutiny that favors transparent, third-party ratings and benchmarks.
For deeper analysis, consider exploring ValueRay’s detailed valuation tools.
Headlines to watch out for
- Subscription revenue growth drives Morningstar Direct platform sales
- PitchBook data demand boosts private market segment
- Credit ratings expansion increases Morningstar DBRS revenue
- Wealth management platform adoption expands recurring fees
- Retirement solutions growth benefits from aging demographics
Piotroski VR‑10 (Strict, 0-10) 8.0
| Net Income: 374.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA -0.32 > 1.0 |
| NWC/Revenue: -0.63% < 20% (prev 2.06%; Δ -2.68% < -1%) |
| CFO/TA 0.16 > 3% & CFO 589.7m > Net Income 374.2m |
| Net Debt (933.3m) to EBITDA (728.9m): 1.28 < 3 |
| Current Ratio: 0.99 > 1.5 & < 3 |
| Outstanding Shares: last quarter (40.7m) vs 12m ago -5.57% < -2% |
| Gross Margin: 61.03% > 18% (prev 0.61%; Δ 6.04k % > 0.5%) |
| Asset Turnover: 68.51% > 50% (prev 64.11%; Δ 4.40% > 0%) |
| Interest Coverage Ratio: 13.47 > 6 (EBITDA TTM 728.9m / Interest Expense TTM 40.0m) |
Altman Z'' 3.94
| A: -0.00 (Total Current Assets 1.04b - Total Current Liabilities 1.05b) / Total Assets 3.59b |
| B: 0.61 (Retained Earnings 2.21b / Total Assets 3.59b) |
| C: 0.15 (EBIT TTM 539.0m / Avg Total Assets 3.57b) |
| D: 0.90 (Book Value of Equity 2.14b / Total Liabilities 2.37b) |
| Altman-Z'' Score: 3.94 = AA |
Beneish M -3.02
| DSRI: 1.02 (Receivables 406.6m/370.5m, Revenue 2.45b/2.28b) |
| GMI: 0.99 (GM 61.03% / 60.63%) |
| AQI: 1.00 (AQ_t 0.60 / AQ_t-1 0.60) |
| SGI: 1.07 (Revenue 2.45b / 2.28b) |
| TATA: -0.06 (NI 374.2m - CFO 589.7m) / TA 3.59b) |
| Beneish M-Score: -3.02 (Cap -4..+1) = AA |
What is the price of MORN shares?
As of March 12, 2026, the stock is trading at USD 184.34 with a total of 466,295 shares traded.
Over the past week, the price has changed by -3.98%, over one month by +15.51%, over three months by -15.85% and over the past year by -36.44%.
Over the past week, the price has changed by -3.98%, over one month by +15.51%, over three months by -15.85% and over the past year by -36.44%.
Is MORN a buy, sell or hold?
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
What are the forecasts/targets for the MORN price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 246 | 33.4% |
| Analysts Target Price | 246 | 33.4% |
MORN Fundamental Data Overview March 09, 2026
P/E Trailing = 21.4133
P/E Forward = 16.835
P/S = 3.198
P/B = 6.1577
P/EG = 2.31
Revenue TTM = 2.45b USD
EBIT TTM = 539.0m USD
EBITDA TTM = 728.9m USD
Long Term Debt = 1.07b USD (from longTermDebt, last quarter)
Short Term Debt = 41.8m USD (from shortTermDebt, last quarter)
Debt = 1.41b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 933.3m USD (from netDebt column, last quarter)
Enterprise Value = 8.70b USD (7.82b + Debt 1.41b - CCE 528.7m)
Interest Coverage Ratio = 13.47 (Ebit TTM 539.0m / Interest Expense TTM 40.0m)
EV/FCF = 19.66x (Enterprise Value 8.70b / FCF TTM 442.6m)
FCF Yield = 5.09% (FCF TTM 442.6m / Enterprise Value 8.70b)
FCF Margin = 18.10% (FCF TTM 442.6m / Revenue TTM 2.45b)
Net Margin = 15.30% (Net Income TTM 374.2m / Revenue TTM 2.45b)
Gross Margin = 61.03% ((Revenue TTM 2.45b - Cost of Revenue TTM 952.9m) / Revenue TTM)
Gross Margin QoQ = 61.13% (prev 60.85%)
Tobins Q-Ratio = 2.42 (Enterprise Value 8.70b / Total Assets 3.59b)
Interest Expense / Debt = 0.81% (Interest Expense 11.4m / Debt 1.41b)
Taxrate = 24.03% (36.4m / 151.5m)
NOPAT = 409.5m (EBIT 539.0m * (1 - 24.03%))
Current Ratio = 0.99 (Total Current Assets 1.04b / Total Current Liabilities 1.05b)
Debt / Equity = 1.15 (Debt 1.41b / totalStockholderEquity, last quarter 1.22b)
Debt / EBITDA = 1.28 (Net Debt 933.3m / EBITDA 728.9m)
Debt / FCF = 2.11 (Net Debt 933.3m / FCF TTM 442.6m)
Total Stockholder Equity = 1.49b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.48% (Net Income 374.2m / Total Assets 3.59b)
RoE = 25.12% (Net Income TTM 374.2m / Total Stockholder Equity 1.49b)
RoCE = 21.03% (EBIT 539.0m / Capital Employed (Equity 1.49b + L.T.Debt 1.07b))
RoIC = 17.20% (NOPAT 409.5m / Invested Capital 2.38b)
WACC = 7.52% (E(7.82b)/V(9.23b) * Re(8.76%) + D(1.41b)/V(9.23b) * Rd(0.81%) * (1-Tc(0.24)))
Discount Rate = 8.76% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -2.71%
[DCF] Terminal Value 80.88% ; FCFF base≈445.1m ; Y1≈479.3m ; Y5≈588.3m
[DCF] Fair Price = 261.4 (EV 11.28b - Net Debt 933.3m = Equity 10.35b / Shares 39.6m; r=7.52% [WACC]; 5y FCF grow 8.65% → 2.90% )
EPS Correlation: 65.86 | EPS CAGR: 19.03% | SUE: 1.82 | # QB: 1
Revenue Correlation: 98.91 | Revenue CAGR: 9.45% | SUE: 0.06 | # QB: 0
EPS next Quarter (2026-06-30): EPS=2.79 | Chg7d=+0.181 | Chg30d=+0.181 | Revisions Net=+1 | Analysts=2
EPS current Year (2026-12-31): EPS=11.36 | Chg7d=+0.536 | Chg30d=+0.536 | Revisions Net=+1 | Growth EPS=+15.2% | Growth Revenue=+7.0%
EPS next Year (2027-12-31): EPS=12.98 | Chg7d=+0.521 | Chg30d=+0.521 | Revisions Net=+2 | Growth EPS=+14.2% | Growth Revenue=+7.3%
[Analyst] Revisions Ratio: +1.00 (1 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 4.1% (Discount Rate 8.8% - Earnings Yield 4.7%)
[Growth] Growth Spread = +3.0% (Analyst 7.1% - Implied 4.1%)
P/E Forward = 16.835
P/S = 3.198
P/B = 6.1577
P/EG = 2.31
Revenue TTM = 2.45b USD
EBIT TTM = 539.0m USD
EBITDA TTM = 728.9m USD
Long Term Debt = 1.07b USD (from longTermDebt, last quarter)
Short Term Debt = 41.8m USD (from shortTermDebt, last quarter)
Debt = 1.41b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 933.3m USD (from netDebt column, last quarter)
Enterprise Value = 8.70b USD (7.82b + Debt 1.41b - CCE 528.7m)
Interest Coverage Ratio = 13.47 (Ebit TTM 539.0m / Interest Expense TTM 40.0m)
EV/FCF = 19.66x (Enterprise Value 8.70b / FCF TTM 442.6m)
FCF Yield = 5.09% (FCF TTM 442.6m / Enterprise Value 8.70b)
FCF Margin = 18.10% (FCF TTM 442.6m / Revenue TTM 2.45b)
Net Margin = 15.30% (Net Income TTM 374.2m / Revenue TTM 2.45b)
Gross Margin = 61.03% ((Revenue TTM 2.45b - Cost of Revenue TTM 952.9m) / Revenue TTM)
Gross Margin QoQ = 61.13% (prev 60.85%)
Tobins Q-Ratio = 2.42 (Enterprise Value 8.70b / Total Assets 3.59b)
Interest Expense / Debt = 0.81% (Interest Expense 11.4m / Debt 1.41b)
Taxrate = 24.03% (36.4m / 151.5m)
NOPAT = 409.5m (EBIT 539.0m * (1 - 24.03%))
Current Ratio = 0.99 (Total Current Assets 1.04b / Total Current Liabilities 1.05b)
Debt / Equity = 1.15 (Debt 1.41b / totalStockholderEquity, last quarter 1.22b)
Debt / EBITDA = 1.28 (Net Debt 933.3m / EBITDA 728.9m)
Debt / FCF = 2.11 (Net Debt 933.3m / FCF TTM 442.6m)
Total Stockholder Equity = 1.49b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.48% (Net Income 374.2m / Total Assets 3.59b)
RoE = 25.12% (Net Income TTM 374.2m / Total Stockholder Equity 1.49b)
RoCE = 21.03% (EBIT 539.0m / Capital Employed (Equity 1.49b + L.T.Debt 1.07b))
RoIC = 17.20% (NOPAT 409.5m / Invested Capital 2.38b)
WACC = 7.52% (E(7.82b)/V(9.23b) * Re(8.76%) + D(1.41b)/V(9.23b) * Rd(0.81%) * (1-Tc(0.24)))
Discount Rate = 8.76% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -2.71%
[DCF] Terminal Value 80.88% ; FCFF base≈445.1m ; Y1≈479.3m ; Y5≈588.3m
[DCF] Fair Price = 261.4 (EV 11.28b - Net Debt 933.3m = Equity 10.35b / Shares 39.6m; r=7.52% [WACC]; 5y FCF grow 8.65% → 2.90% )
EPS Correlation: 65.86 | EPS CAGR: 19.03% | SUE: 1.82 | # QB: 1
Revenue Correlation: 98.91 | Revenue CAGR: 9.45% | SUE: 0.06 | # QB: 0
EPS next Quarter (2026-06-30): EPS=2.79 | Chg7d=+0.181 | Chg30d=+0.181 | Revisions Net=+1 | Analysts=2
EPS current Year (2026-12-31): EPS=11.36 | Chg7d=+0.536 | Chg30d=+0.536 | Revisions Net=+1 | Growth EPS=+15.2% | Growth Revenue=+7.0%
EPS next Year (2027-12-31): EPS=12.98 | Chg7d=+0.521 | Chg30d=+0.521 | Revisions Net=+2 | Growth EPS=+14.2% | Growth Revenue=+7.3%
[Analyst] Revisions Ratio: +1.00 (1 Up / 0 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 4.1% (Discount Rate 8.8% - Earnings Yield 4.7%)
[Growth] Growth Spread = +3.0% (Analyst 7.1% - Implied 4.1%)