Overview Dividends

(MORN) Morningstar - Ratings and Ratios

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

Data, Analytics, Ratings, Portfolios, Retirement

MORN EPS (Earnings per Share)

EPS Growth (3Y CAGR): 71.34%
EPS Trend (3Y Correlation): 75.4%

MORN Revenue

Revenue Growth (3Y CAGR): 10.00%
Revenue Trend (3Y Correlation): 98.0%

Description: MORN Morningstar October 30, 2025

Morningstar, Inc. (NASDAQ:MORN) is a global provider of independent investment research and data, operating across North America, Europe, Asia-Pacific and other regions. The firm’s business is organized into five primary segments: Morningstar Data & Analytics, PitchBook, Morningstar Wealth, Morningstar Credit, and Morningstar Retirement, each delivering subscription-based software, research, and managed-investment products such as mutual funds, ETFs, and model portfolios.

Key growth levers include the rapid expansion of private-market data via PitchBook (which has seen double-digit annual revenue growth, driven by heightened venture-capital and private-equity activity) and the increasing demand for ESG and sustainability analytics supplied by Sustainalytics. In FY 2024, Morningstar reported subscription revenue of roughly $1.1 billion, representing about 78 % of total revenue, and a trailing-12-month operating margin of ~ 15 %, reflecting the high-margin nature of its SaaS-centric model. The company’s exposure to macro-drivers such as interest-rate cycles (affecting credit-rating services) and discretionary investment spending (impacting wealth-management tools) adds a layer of cyclicality to its earnings.

For a deeper dive into Morningstar’s valuation metrics, the ValueRay platform offers a granular, data-driven view of its financials and peer comparisons.

MORN Stock Overview

Market Cap in USD	8,773m
Sub-Industry	Financial Exchanges & Data
IPO / Inception	2005-05-03

MORN Stock Ratings

Growth Rating	-33.5%
Fundamental	83.9%
Dividend Rating	47.9%
Return 12m vs S&P 500	-46.3%
Analyst Rating	4.0 of 5

MORN Dividends

Dividend Yield 12m	0.86%
Yield on Cost 5y	0.90%
Annual Growth 5y	1.69%
Payout Consistency	95.9%
Payout Ratio	18.4%

MORN Growth Ratios

Growth Correlation 3m	-94.4%
Growth Correlation 12m	-89.8%
Growth Correlation 5y	44.5%
CAGR 5y	-2.93%
CAGR/Max DD 3y (Calmar Ratio)	-0.07
CAGR/Mean DD 3y (Pain Ratio)	-0.25
Sharpe Ratio 12m	-0.62
Alpha	-55.25
Beta	1.000
Volatility	25.73%
Current Volume	376.2k
Average Volume 20d	339.7k
Stop Loss	204.4 (-3.4%)
Signal	-0.66

Piotroski VR‑10 (Strict, 0-10) 7.5

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 5.70%; Δ -4.29pp) (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 (679.7m) ratio: 0.84 <= 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 54.56%; Δ 6.37pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 67.25% (prev 62.43%; Δ 4.82pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 7.09 (EBITDA TTM 679.7m / Interest Expense TTM 68.9m) >= 6 (WARN >= 3)

Altman Z'' 3.65

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

(B) 0.54 = Retained Earnings (Balance) 1.91b / Total Assets 3.56b

(D) 0.88 = Book Value of Equity 1.79b / Total Liabilities 2.04b

Total Rating: 3.65 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 83.87

1. Piotroski 7.50pt = 2.50

2. FCF Yield 4.24% = 2.12

3. FCF Margin 16.45% = 4.11

4. Debt/Equity 0.69 = 2.27

5. Debt/Ebitda 0.84 = 1.98

6. ROIC - WACC (= 6.23)% = 7.79

7. RoE 23.66% = 1.97

8. Rev. Trend 98.05% = 7.35

9. EPS Trend 75.44% = 3.77

What is the price of MORN shares?

As of November 05, 2025, the stock is trading at USD 211.67 with a total of 376,173 shares traded.
Over the past week, the price has changed by -2.96%, over one month by -5.35%, over three months by -21.56% and over the past year by -35.58%.

Is Morningstar a good stock to buy?

Yes, based on ValueRay´s Fundamental Analyses, Morningstar (NASDAQ:MORN) is currently (November 2025) a good stock to buy. It has a ValueRay Fundamental Rating of 83.87 and therefor a positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of MORN is around 159.90 USD . This means that MORN is currently overvalued and has a potential downside of -24.46%.

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	31.5%
Analysts Target Price	278.3	31.5%
ValueRay Target Price	179	-15.4%

MORN Fundamental Data Overview November 05, 2025

Market Cap USD = 8.77b (8.77b USD * 1.0 USD.USD)
P/E Trailing = 24.2662
P/E Forward = 19.802
P/S = 3.6624
P/B = 5.9109
Beta = 1.0
Revenue TTM = 2.40b USD
EBIT TTM = 488.5m USD
EBITDA TTM = 679.7m USD
Long Term Debt = 698.6m USD (from longTermDebt, last fiscal year)
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 = 9.30b USD (8.77b + Debt 1.04b - CCE 514.5m)
Interest Coverage Ratio = 7.09 (Ebit TTM 488.5m / Interest Expense TTM 68.9m)
FCF Yield = 4.24% (FCF TTM 394.1m / Enterprise Value 9.30b)
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 = 2.61 (Enterprise Value 9.30b / Total Assets 3.56b)
Interest Expense / Debt = 3.74% (Interest Expense 39.0m / Debt 1.04b)
Taxrate = 25.51% (31.4m / 123.1m)
NOPAT = 363.9m (EBIT 488.5m * (1 - 25.51%))
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 = 0.84 (Net Debt 568.4m / EBITDA 679.7m)
Debt / FCF = 1.44 (Net Debt 568.4m / FCF TTM 394.1m)
Total Stockholder Equity = 1.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.57% (Net Income 376.0m / Total Assets 3.56b)
RoE = 23.66% (Net Income TTM 376.0m / Total Stockholder Equity 1.59b)
RoCE = 21.35% (EBIT 488.5m / Capital Employed (Equity 1.59b + L.T.Debt 698.6m))
RoIC = 15.20% (NOPAT 363.9m / Invested Capital 2.39b)
WACC = 8.97% (E(8.77b)/V(9.82b) * Re(9.70%) + D(1.04b)/V(9.82b) * Rd(3.74%) * (1-Tc(0.26)))
Discount Rate = 9.70% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -33.33 | Cagr: -0.47%
[DCF Debug] Terminal Value 73.71% ; FCFE base≈414.0m ; Y1≈445.9m ; Y5≈548.6m
Fair Price DCF = 175.1 (DCF Value 7.20b / Shares Outstanding 41.1m; 5y FCF grow 8.65% → 3.0% )
EPS Correlation: 75.44 | EPS CAGR: 71.34% | SUE: 0.74 | # QB: 0
Revenue Correlation: 98.05 | Revenue CAGR: 10.00% | SUE: 0.04 | # QB: 0

Additional Sources for MORN Stock

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