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Side-by-side financial comparison of Morningstar, Inc. (MORN) and Insulet Corporation (PODD). Click either name above to swap in a different company.
Insulet Corporation is the larger business by last-quarter revenue ($783.7M vs $641.1M, roughly 1.2× Morningstar, Inc.). Morningstar, Inc. runs the higher net margin — 18.0% vs 13.0%, a 5.0% gap on every dollar of revenue. On growth, Insulet Corporation posted the faster year-over-year revenue change (31.2% vs 8.5%). Morningstar, Inc. produced more free cash flow last quarter ($161.3M vs $48.2M). Over the past eight quarters, Insulet Corporation's revenue compounded faster (33.2% CAGR vs 8.7%).
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.
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy . The device configuration may vary depending on design. A traditional pump includes:the pump a disposable reservoir for insulin a disposable infusion set, including a cannula for subcutaneous insertion and a tubing system to connect the insulin reservoir to the cannula.
MORN vs PODD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $641.1M | $783.7M |
| Net Profit | $115.1M | $101.6M |
| Gross Margin | 61.1% | 72.6% |
| Operating Margin | 24.9% | 18.7% |
| Net Margin | 18.0% | 13.0% |
| Revenue YoY | 8.5% | 31.2% |
| Net Profit YoY | -1.5% | 0.9% |
| EPS (diluted) | $2.79 | $1.42 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $641.1M | $783.7M | ||
| Q3 25 | $617.4M | $706.3M | ||
| Q2 25 | $605.1M | $649.1M | ||
| Q1 25 | $581.9M | $569.0M | ||
| Q4 24 | $591.0M | $597.5M | ||
| Q3 24 | $569.4M | $543.9M | ||
| Q2 24 | $571.9M | $488.5M | ||
| Q1 24 | $542.8M | $441.7M |
| Q4 25 | $115.1M | $101.6M | ||
| Q3 25 | $91.6M | $87.6M | ||
| Q2 25 | $89.0M | $22.5M | ||
| Q1 25 | $78.5M | $35.4M | ||
| Q4 24 | $116.9M | $100.7M | ||
| Q3 24 | $119.7M | $77.5M | ||
| Q2 24 | $69.1M | $188.6M | ||
| Q1 24 | $64.2M | $51.5M |
| Q4 25 | 61.1% | 72.6% | ||
| Q3 25 | 60.9% | 72.2% | ||
| Q2 25 | 61.9% | 69.7% | ||
| Q1 25 | 60.2% | 71.9% | ||
| Q4 24 | 60.7% | 72.1% | ||
| Q3 24 | 60.9% | 69.3% | ||
| Q2 24 | 61.1% | 67.7% | ||
| Q1 24 | 59.8% | 69.5% |
| Q4 25 | 24.9% | 18.7% | ||
| Q3 25 | 20.7% | 16.7% | ||
| Q2 25 | 20.7% | 18.7% | ||
| Q1 25 | 19.6% | 15.6% | ||
| Q4 24 | 28.5% | 18.3% | ||
| Q3 24 | 20.3% | 16.2% | ||
| Q2 24 | 19.0% | 11.2% | ||
| Q1 24 | 17.1% | 12.9% |
| Q4 25 | 18.0% | 13.0% | ||
| Q3 25 | 14.8% | 12.4% | ||
| Q2 25 | 14.7% | 3.5% | ||
| Q1 25 | 13.5% | 6.2% | ||
| Q4 24 | 19.8% | 16.9% | ||
| Q3 24 | 21.0% | 14.2% | ||
| Q2 24 | 12.1% | 38.6% | ||
| Q1 24 | 11.8% | 11.7% |
| Q4 25 | $2.79 | $1.42 | ||
| Q3 25 | $2.17 | $1.24 | ||
| Q2 25 | $2.09 | $0.32 | ||
| Q1 25 | $1.82 | $0.50 | ||
| Q4 24 | $2.72 | $1.38 | ||
| Q3 24 | $2.77 | $1.08 | ||
| Q2 24 | $1.60 | $2.59 | ||
| Q1 24 | $1.49 | $0.73 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $528.7M | — |
| Total DebtLower is stronger | — | $930.8M |
| Stockholders' EquityBook value | $1.2B | $1.5B |
| Total Assets | $3.6B | $3.2B |
| Debt / EquityLower = less leverage | — | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $528.7M | — | ||
| Q3 25 | $40.3M | — | ||
| Q2 25 | $38.1M | — | ||
| Q1 25 | $47.7M | — | ||
| Q4 24 | $551.0M | — | ||
| Q3 24 | $48.8M | — | ||
| Q2 24 | $48.0M | — | ||
| Q1 24 | $55.4M | — |
| Q4 25 | — | $930.8M | ||
| Q3 25 | $848.9M | $934.9M | ||
| Q2 25 | $838.8M | $939.0M | ||
| Q1 25 | $803.7M | $1.6B | ||
| Q4 24 | $698.6M | $1.3B | ||
| Q3 24 | $864.7M | $1.4B | ||
| Q2 24 | $899.6M | $1.4B | ||
| Q1 24 | $917.3M | $1.4B |
| Q4 25 | $1.2B | $1.5B | ||
| Q3 25 | $1.5B | $1.4B | ||
| Q2 25 | $1.6B | $1.5B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.6B | $1.1B | ||
| Q2 24 | $1.4B | $998.4M | ||
| Q1 24 | $1.4B | $790.7M |
| Q4 25 | $3.6B | $3.2B | ||
| Q3 25 | $3.6B | $3.0B | ||
| Q2 25 | $3.6B | $3.5B | ||
| Q1 25 | $3.6B | $3.5B | ||
| Q4 24 | $3.5B | $3.1B | ||
| Q3 24 | $3.6B | $3.0B | ||
| Q2 24 | $3.4B | $2.9B | ||
| Q1 24 | $3.4B | $2.6B |
| Q4 25 | — | 0.61× | ||
| Q3 25 | 0.56× | 0.68× | ||
| Q2 25 | 0.52× | 0.64× | ||
| Q1 25 | 0.50× | 1.21× | ||
| Q4 24 | 0.43× | 1.07× | ||
| Q3 24 | 0.55× | 1.21× | ||
| Q2 24 | 0.63× | 1.36× | ||
| Q1 24 | 0.66× | 1.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $204.0M | $183.3M |
| Free Cash FlowOCF − Capex | $161.3M | $48.2M |
| FCF MarginFCF / Revenue | 25.2% | 6.2% |
| Capex IntensityCapex / Revenue | 6.7% | 17.2% |
| Cash ConversionOCF / Net Profit | 1.77× | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $442.6M | $377.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $204.0M | $183.3M | ||
| Q3 25 | $195.7M | $125.7M | ||
| Q2 25 | $99.0M | $196.5M | ||
| Q1 25 | $91.0M | $63.8M | ||
| Q4 24 | $153.4M | $147.7M | ||
| Q3 24 | $191.9M | $98.5M | ||
| Q2 24 | $152.7M | $96.5M | ||
| Q1 24 | $93.6M | $87.6M |
| Q4 25 | $161.3M | $48.2M | ||
| Q3 25 | $160.1M | $100.1M | ||
| Q2 25 | $62.4M | $177.9M | ||
| Q1 25 | $58.8M | $51.5M | ||
| Q4 24 | $112.8M | $94.1M | ||
| Q3 24 | $155.8M | $71.8M | ||
| Q2 24 | $120.8M | $74.0M | ||
| Q1 24 | $59.5M | $65.5M |
| Q4 25 | 25.2% | 6.2% | ||
| Q3 25 | 25.9% | 14.2% | ||
| Q2 25 | 10.3% | 27.4% | ||
| Q1 25 | 10.1% | 9.1% | ||
| Q4 24 | 19.1% | 15.7% | ||
| Q3 24 | 27.4% | 13.2% | ||
| Q2 24 | 21.1% | 15.1% | ||
| Q1 24 | 11.0% | 14.8% |
| Q4 25 | 6.7% | 17.2% | ||
| Q3 25 | 5.8% | 3.6% | ||
| Q2 25 | 6.0% | 2.9% | ||
| Q1 25 | 5.5% | 2.2% | ||
| Q4 24 | 6.9% | 9.0% | ||
| Q3 24 | 6.3% | 4.9% | ||
| Q2 24 | 5.6% | 4.6% | ||
| Q1 24 | 6.3% | 5.0% |
| Q4 25 | 1.77× | 1.80× | ||
| Q3 25 | 2.14× | 1.43× | ||
| Q2 25 | 1.11× | 8.73× | ||
| Q1 25 | 1.16× | 1.80× | ||
| Q4 24 | 1.31× | 1.47× | ||
| Q3 24 | 1.60× | 1.27× | ||
| Q2 24 | 2.21× | 0.51× | ||
| Q1 24 | 1.46× | 1.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MORN
| Pitch Book Segment | $172.6M | 27% |
| Morningstar Credit Segment | $166.7M | 26% |
| Transaction Based | $113.1M | 18% |
| Asset Based | $90.2M | 14% |
| Morningstar Retirement Segment | $38.1M | 6% |
| Morningstar Sustainalytics | $27.8M | 4% |
| Morningstar Indexes | $22.5M | 4% |
| Morningstar Wealth Segment | $2.3M | 0% |
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
