Overview Dividends

(MORN) Morningstar - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US6177001095

Data, Analytics, Platforms, Research, Ratings

Financial Exchanges & Data
Market Cap in USD: 9,095m

IPO / Inception: 2005-05-03
Return 12m vs S&P 500: -42.9%

EPS (Earnings per Share)

EPS CAGR: -25.21%
EPS Trend: 31.3%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 8.03%
Rev. Trend: 98.3%

Last SUE: 0.04
Qual. Beats: 0

Dividends

Dividend Yield	1.55%
Yield on Cost 5y	1.53%
Yield CAGR 5y	17.80%
Payout Consistency	96.1%
Payout Ratio	18.9%

Risk via 5d forecast
Volatility	23.1%
Value at Risk 5%th	36.0%
Relative Tail Risk	-5.45%

Reward TTM
Sharpe Ratio	-1.54
Alpha	-48.68
CAGR/Max DD	-0.07

Character TTM
Hurst Exponent	0.431
Beta	0.830
Beta Downside	0.894

Drawdowns 3y
Max DD	41.82%
Mean DD	13.60%
Median DD	9.38%

Description: MORN Morningstar January 02, 2026

Morningstar, Inc. (NASDAQ:MORN) delivers independent investment research and data services across North America, Europe, Asia-Pacific and other global markets through five operating segments: Data & Analytics, PitchBook, Wealth, Credit, and Retirement. Its product suite spans subscription-based platforms such as Morningstar Direct and Advisor Workstation, managed-investment vehicles (mutual funds, ETFs, model portfolios), private-capital intelligence via PitchBook, ESG ratings through Sustainalytics, and structured-finance analytics via DBRS.

Key recent metrics show the company generated approximately $1.1 billion in revenue for FY 2023, with subscription revenue representing roughly 70 % of total sales and posting a year-over-year growth rate of 9 %. The PitchBook segment has been expanding at an estimated 15 % CAGR, reflecting broader private-market fundraising activity, while ESG data demand has risen in line with a 12 % increase in global sustainable-investment assets under management. Macro-level drivers include rising interest-rate volatility (boosting credit-analytics usage) and continued regulatory emphasis on transparency in private-equity disclosures.

For a deeper quantitative view, you may want to explore ValueRay’s analyst platform.

Piotroski VR‑10 (Strict, 0-10) 7.0

Net Income (376.0m TTM) > 0 and > 6% of Revenue (6% = 143.7m TTM)

FCFTA 0.11 (>2.0%) and ΔFCFTA -1.37pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 1.41% (prev 5.71%; Δ -4.30pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.15 (>3.0%) and CFO 539.1m > Net Income 376.0m (YES >=105%, WARN >=100%)

Net Debt (568.4m) to EBITDA (729.4m) ratio: 0.78 <= 3.0 (WARN <= 3.5)

Current Ratio 1.04 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (42.6m) change vs 12m ago -1.39% (target <= -2.0% for YES)

Gross Margin 60.93% (prev 60.91%; Δ 0.02pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 67.25% (prev 62.33%; Δ 4.92pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 13.69 (EBITDA TTM 729.4m / Interest Expense TTM 39.3m) >= 6 (WARN >= 3)

Altman Z'' 4.06

(A) 0.01 = (Total Current Assets 979.2m - Total Current Liabilities 945.5m) / Total Assets 3.56b

(B) 0.59 = Retained Earnings (Balance) 2.11b / Total Assets 3.56b

(D) 1.00 = Book Value of Equity 2.04b / Total Liabilities 2.04b

Total Rating: 4.06 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 84.24

1. Piotroski 7.0pt

2. FCF Yield 4.10%

3. FCF Margin 16.45%

4. Debt/Equity 0.69

5. Debt/Ebitda 0.78

6. ROIC - WACC (= 8.68)%

7. RoE 23.66%

8. Rev. Trend 98.34%

9. EPS Trend 31.33%

What is the price of MORN shares?

As of January 11, 2026, the stock is trading at USD 216.82 with a total of 434,784 shares traded.
Over the past week, the price has changed by +3.04%, over one month by +1.04%, over three months by -4.22% and over the past year by -30.86%.

Is MORN a buy, sell or hold?

Morningstar has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy MORN.

Strong Buy: 1
Buy: 1
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the MORN price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	278.3	28.4%
Analysts Target Price	278.3	28.4%
ValueRay Target Price	207.5	-4.3%

MORN Fundamental Data Overview January 08, 2026

P/E Trailing = 24.5034
P/E Forward = 19.1205
P/S = 3.7968
P/B = 5.8591
Beta = 1.079
Revenue TTM = 2.40b USD
EBIT TTM = 538.2m USD
EBITDA TTM = 729.4m USD
Long Term Debt = 848.9m USD (from longTermDebt, last quarter)
Short Term Debt = 39.9m USD (from shortTermDebt, last quarter)
Debt = 1.04b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 568.4m USD (from netDebt column, last quarter)
Enterprise Value = 9.62b USD (9.09b + Debt 1.04b - CCE 514.5m)
Interest Coverage Ratio = 13.69 (Ebit TTM 538.2m / Interest Expense TTM 39.3m)
EV/FCF = 24.42x (Enterprise Value 9.62b / FCF TTM 394.1m)
FCF Yield = 4.10% (FCF TTM 394.1m / Enterprise Value 9.62b)
FCF Margin = 16.45% (FCF TTM 394.1m / Revenue TTM 2.40b)
Net Margin = 15.70% (Net Income TTM 376.0m / Revenue TTM 2.40b)
Gross Margin = 60.93% ((Revenue TTM 2.40b - Cost of Revenue TTM 935.9m) / Revenue TTM)
Gross Margin QoQ = 60.85% (prev 61.89%)
Tobins Q-Ratio = 2.70 (Enterprise Value 9.62b / Total Assets 3.56b)
Interest Expense / Debt = 0.90% (Interest Expense 9.40m / Debt 1.04b)
Taxrate = 25.53% (31.4m / 123.0m)
NOPAT = 400.8m (EBIT 538.2m * (1 - 25.53%))
Current Ratio = 1.04 (Total Current Assets 979.2m / Total Current Liabilities 945.5m)
Debt / Equity = 0.69 (Debt 1.04b / totalStockholderEquity, last quarter 1.51b)
Debt / EBITDA = 0.78 (Net Debt 568.4m / EBITDA 729.4m)
Debt / FCF = 1.44 (Net Debt 568.4m / FCF TTM 394.1m)
Total Stockholder Equity = 1.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.56% (Net Income 376.0m / Total Assets 3.56b)
RoE = 23.66% (Net Income TTM 376.0m / Total Stockholder Equity 1.59b)
RoCE = 22.08% (EBIT 538.2m / Capital Employed (Equity 1.59b + L.T.Debt 848.9m))
RoIC = 16.79% (NOPAT 400.8m / Invested Capital 2.39b)
WACC = 8.12% (E(9.09b)/V(10.14b) * Re(8.97%) + D(1.04b)/V(10.14b) * Rd(0.90%) * (1-Tc(0.26)))
Discount Rate = 8.97% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.47%
[DCF Debug] Terminal Value 78.74% ; FCFF base≈414.0m ; Y1≈445.8m ; Y5≈547.2m
Fair Price DCF = 211.8 (EV 9.28b - Net Debt 568.4m = Equity 8.71b / Shares 41.1m; r=8.12% [WACC]; 5y FCF grow 8.65% → 2.90% )
EPS Correlation: 31.33 | EPS CAGR: -25.21% | SUE: -4.0 | # QB: 0
Revenue Correlation: 98.34 | Revenue CAGR: 8.03% | SUE: 0.04 | # QB: 0
EPS next Quarter (2026-03-31): EPS=2.51 | Chg30d=+0.000 | Revisions Net=+1 | Analysts=1
EPS next Year (2026-12-31): EPS=10.79 | Chg30d=+0.000 | Revisions Net=+1 | Growth EPS=+14.8% | Growth Revenue=+7.5%

Additional Sources for MORN Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle