晨星MORN财报
Nasdaq · 金融 · 投资咨询
晨星（Morningstar, Inc.）是总部位于美国伊利诺伊州芝加哥的金融服务机构，由乔·曼苏托于1984年创立，面向全球提供全方位的投资研究、投资管理等专业服务，是全球颇具知名度的投资资讯服务提供商。
MORN 2025财年Q4 Key Financial Metrics
营收
$641.1M
毛利润
$391.9M
营业利润
$159.6M
净利润
$115.1M
毛利率
61.1%
营业利润率
24.9%
净利率
18.0%
同比增长
8.5%
EPS
$2.79
晨星 2025财年Q4 财务摘要
晨星 2025财年Q4营收 $641.1M（同比增长 8.5%），净利润 $115.1M（同比下降 1.5%）（净利率 18.0%）。销售成本 $249.2M，运营费用 $232.3M。
核心财务指标
| 总营收 | $641.1M |
|---|---|
| 净利润 | $115.1M |
| 毛利率 | 61.1% |
| 营业利润率 | 24.9% |
| 报告期 | 2025财年Q4 |
营收拆解
晨星 2025财年Q4营收 $641.1M 共来自 8 个业务板块，最大板块 Pitch Book Segment 贡献 $172.6M（占 26.9%）。
| 业务分部 | 营收 | 占比 |
|---|---|---|
| Pitch Book Segment | $172.6M | 26.9% |
| Morningstar Credit Segment | $166.7M | 26.0% |
| Transaction Based | $113.1M | 17.6% |
| Asset Based | $90.2M | 14.1% |
| Morningstar Retirement Segment | $38.1M | 5.9% |
| Morningstar Sustainalytics | $27.8M | 4.3% |
| Morningstar Indexes | $22.5M | 3.5% |
| Morningstar Wealth Segment | $2.3M | 0.4% |
晨星 分部营收 — 季度趋势
晨星 过去 4 个季度各业务板块营收走势，展示 Pitch Book Segment和Morningstar Credit Segment 等业务的变化。
| 业务分部 | 2025财年Q4 | 2025财年Q3 | 2025财年Q2 | 2025财年Q1 |
|---|---|---|---|---|
| Pitch Book Segment | $172.6M | $169.0M | $166.5M | — |
| Morningstar Credit Segment | $166.7M | $62.1M | $64.3M | $61.3M |
| Transaction Based | $113.1M | — | — | $78.2M |
| Asset Based | $90.2M | — | — | $85.7M |
| Morningstar Retirement Segment | $38.1M | $34.2M | $32.4M | $32.9M |
晨星 年度营收
晨星 历年营收汇总，含各年度总量（例如 2025 年营收为 $2.4B）
晨星 季度营收与净利润历史
晨星 最近 8 个季度的营收、净利润及同比增速
| 季度 | 营收 | 营收同比 | 净利润 | 净利率 |
|---|---|---|---|---|
| 2025财年Q4 | $641.1M | +8.5% | $115.1M | 18.0% |
| 2025财年Q3 | $617.4M | +8.4% | $91.6M | 14.8% |
| 2025财年Q2 | $605.1M | +5.8% | $89.0M | 14.7% |
| 2025财年Q1 | $581.9M | +7.2% | $78.5M | 13.5% |
| 2024财年Q4 | $591.0M | +9.7% | $116.9M | 19.8% |
| 2024财年Q3 | $569.4M | +10.5% | $119.7M | 21.0% |
| 2024财年Q2 | $571.9M | +13.3% | $69.1M | 12.1% |
| 2024财年Q1 | $542.8M | +13.2% | $64.2M | 11.8% |
利润表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 营收 | $542.8M | $571.9M | $569.4M | $591.0M | $581.9M | $605.1M | $617.4M | $641.1M |
| 同比增长 | 13.2% | 13.3% | 10.5% | 9.7% | 7.2% | 5.8% | 8.4% | 8.5% |
资产负债表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 总资产 | $3.39B | $3.40B | $3.57B | $3.55B | $3.59B | $3.63B | $3.56B | $3.59B |
| 总负债 | $2.01B | $1.97B | $2.00B | $1.93B | $1.98B | $2.02B | $2.04B | $2.37B |
| 股东权益 | $1.38B | $1.43B | $1.57B | $1.62B | $1.61B | $1.61B | $1.51B | $1.22B |
现金流量表
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| 经营性现金流 | $93.6M | $152.7M | $191.9M | $153.4M | $91.0M | $99.0M | $195.7M | $204.0M |