Morningstar, Inc.MORNEarnings & Financial Report
Morningstar, Inc. is an American financial services firm headquartered in Chicago, Illinois, founded by Joe Mansueto in 1984. It provides an array of investment research and investment management services.
MORN Q1 FY2026 Key Financial Metrics
Revenue
$644.8M
Gross Profit
$405.9M
Operating Profit
$155.9M
Net Profit
N/A
Gross Margin
62.9%
Operating Margin
24.2%
Net Margin
N/A
YoY Growth
10.8%
EPS
$2.73
Morningstar, Inc. Q1 FY2026 Financial Summary
Morningstar, Inc. reported revenue of $644.8M (up 10.8% YoY) for Q1 FY2026, with a net profit of N/A (N/A margin). Cost of goods sold was $238.9M, operating expenses totaled $250.0M.
Key Financial Metrics
| Total Revenue | $644.8M |
|---|---|
| Net Profit | N/A |
| Gross Margin | 62.9% |
| Operating Margin | 24.2% |
| Report Period | Q1 FY2026 |
Morningstar, Inc. Annual Revenue by Year
Morningstar, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $2.4B).
Morningstar, Inc. Quarterly Revenue & Net Profit History
Morningstar, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $644.8M | +10.8% | N/A | N/A |
| Q4 FY2025 | $641.1M | +8.5% | $115.1M | 18.0% |
| Q3 FY2025 | $617.4M | +8.4% | $91.6M | 14.8% |
| Q2 FY2025 | $605.1M | +5.8% | $89.0M | 14.7% |
| Q1 FY2025 | $581.9M | +7.2% | $78.5M | 13.5% |
| Q4 FY2024 | $591.0M | +9.7% | $116.9M | 19.8% |
| Q3 FY2024 | $569.4M | +10.5% | $119.7M | 21.0% |
| Q2 FY2024 | $571.9M | +13.3% | $69.1M | 12.1% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $571.9M | $569.4M | $591.0M | $581.9M | $605.1M | $617.4M | $641.1M | $644.8M |
| YoY Growth | 13.3% | 10.5% | 9.7% | 7.2% | 5.8% | 8.4% | 8.5% | 10.8% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $3.40B | $3.57B | $3.55B | $3.59B | $3.63B | $3.56B | $3.59B | $3.99B |
| Liabilities | $1.97B | $2.00B | $1.93B | $1.98B | $2.02B | $2.04B | $2.37B | $2.97B |
| Equity | $1.43B | $1.57B | $1.62B | $1.61B | $1.61B | $1.51B | $1.22B | $1.02B |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $152.7M | $191.9M | $153.4M | $91.0M | $99.0M | $195.7M | $204.0M |