MORN Stock Analysis: Morningstar | NASDAQ
Financial Data & Stock Exchanges | NASDAQ, USA | Market Cap: 7.173m USD | 12M Return: -14.5% | US6177001095 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 55.1M
EPS Trend: 93.5%
Qual. Beats: 3
Rev. Trend: 99.5%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.7 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 U.S.-based provider of independent investment research and financial data, serving clients across the Americas, Europe, Asia, and Australia. The company operates through five segments: Morningstar Direct Platform, PitchBook, Morningstar Credit, Morningstar Wealth, and Morningstar Retirement. Its offerings span managed investments, investment analysis software, private capital market data, credit ratings, ESG research, indexes, and retirement plan services. Founded in 1984 and headquartered in Chicago, Morningstar serves both institutional and individual investors through subscription-based data platforms, advisory tools, and licensed research products.
The company sits within the Financial Exchanges & Data sub-industry, a sector characterized by recurring subscription and licensing revenue tied to the delivery of proprietary financial information. Morningstars diversified business model spans traditional asset management, alternative/private market intelligence (via PitchBook), credit rating services (through Morningstar DBRS), and ESG analytics (through Sustainalytics), giving it exposure to multiple high-growth segments of the financial data ecosystem.
- PitchBook subscriptions accelerate on private market data demand
- DBRS credit ratings gain regulatory recognition and market share
- Managed retirement assets expand driving recurring fee revenue
| 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 October 06, 2026, the stock is trading at USD 189.16 with a total of 296,259 shares traded. Over the past week, the price has changed by -0.99%, over one month by -5.42%, over three months by +14.33% and over the past year by -14.49%.
Current recommended Stop Loss: 180.10 (which is 4.8% or 1.3 ATR below the current price).
Morningstar has received a consensus analysts rating of 4.33. Therefore, it is recommended to buy MORN.
- StrongBuy: 2
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 236.7 | 25.1% |
P/E Trailing = 18.1932
P/E Forward = 19.802
P/S = 2.7948
P/B = 7.1535
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 = 8.75b USD (7.17b + Debt 2.10b - CCE 523.8m)
Interest Coverage Ratio = 11.45 (Ebit TTM 612.8m / Interest Expense TTM 53.5m)
EV/FCF = 17.58x (Enterprise Value 8.75b / FCF TTM 497.5m)
FCF Yield = 5.69% (FCF TTM 497.5m / Enterprise Value 8.75b)
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 = 2.22 (Enterprise Value 8.75b / 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 = 5.90% (E(7.17b)/V(9.27b) * Re(7.07%) + D(2.10b)/V(9.27b) * Rd(2.55%) * (1-Tc(0.25)))
Discount Rate = 7.07% (= 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)