Morningstar, Inc. (MORN)
NASDAQ: MORN · Real-Time Price · USD
258.63
-0.45 (-0.17%)
At close: Aug 15, 2025, 4:00 PM
258.53
-0.10 (-0.04%)
After-hours: Aug 15, 2025, 5:46 PM EDT
Revenue by Product
Fiscal year is January - December.
Fiscal Year | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | 2012 - 2019 |
|---|---|---|---|---|---|---|
Period Ending | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | 2012 - 2019 |
| License-Based | 1.63B |
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| License-Based Growth | 5.71% |
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| Asset-Based | 333.20M |
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| Asset-Based Growth | 10.01% |
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| Transaction-Based | 316.80M |
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| Transaction-Based Growth | 20.44% |
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| Morningstar Data | - |
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| Morningstar Data Growth | - |
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| Morningstar Direct | - |
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| Morningstar Direct Growth | - |
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| Morningstar Retirement | - |
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| Morningstar Retirement Growth | - |
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| Other | - |
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| Other Growth | - |
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| Investment Management | - |
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| Investment Management Growth | - |
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| Morningstar Advisor Workstation | - |
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| Morningstar Advisor Workstation Growth | - |
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| DBRS Morningstar | - |
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| DBRS Morningstar Growth | - |
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| PitchBook | - |
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| PitchBook Growth | - |
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| Morningstar Sustainalytics | - |
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| Morningstar Sustainalytics Growth | - |
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| Morningstar Data and Analytics | 788.10M |
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| Morningstar Data and Analytics Growth | 3.60% |
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| PitchBook Revenue (Post-FY2023 Reporting) | 618.40M |
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| PitchBook Revenue (Post-FY2023 Reporting) Growth | 11.31% |
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| Morningstar Credit | 291.10M |
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| Morningstar Credit Growth | 23.35% |
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| Morningstar Wealth | 248.40M |
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| Morningstar Wealth Growth | 4.82% |
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| Morningstar Retirement Revenue (Post-FY2023 Reporting) | 127.10M |
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| Morningstar Retirement Revenue (Post-FY2023 Reporting) Growth | 9.28% |
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| Corporate and All Other | 202.00M |
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| Corporate and All Other Growth | 1.52% |
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Revenue by Geography
Fiscal year is January - December.
Fiscal Year | FY 2023 | FY 2022 | FY 2021 | FY 2020 | 2011 - 2018 |
|---|---|---|---|---|---|
Period Ending | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | 2011 - 2018 |
| United States |
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| United States Growth |
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| Asia |
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| Asia Growth |
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| Australia |
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| Australia Growth |
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| Canada |
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| Canada Growth |
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| Continental Europe |
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| Continental Europe Growth |
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| United Kingdom |
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| United Kingdom Growth |
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| Other Regional |
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| Other Regional Growth |
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Other
Fiscal year is January - December.
Fiscal Year | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | 2012 - 2019 |
|---|---|---|---|---|---|---|
Period Ending | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 | Dec '20 Dec 31, 2020 | 2012 - 2019 |
| Morningstar Data and Analytics Adjusted Operating Income | 355.40M |
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| Morningstar Data and Analytics Adjusted Operating Income Growth | 10.31% |
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| PitchBook Adjusted Operating Income (Post-FY2023 Reporting) | 186.40M |
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| PitchBook Adjusted Operating Income (Post-FY2023 Reporting) Growth | 11.63% |
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| Morningstar Credit Adjusted Operating Income | 75.60M |
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| Morningstar Credit Adjusted Operating Income Growth | 9.32% |
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| Morningstar Wealth Adjusted Operating Income | -9.30M |
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| Morningstar Wealth Adjusted Operating Income Growth | -236.36% |
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| Morningstar Retirement Adjusted Operating Income (Post-FY2023 Reporting) | 65.60M |
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| Morningstar Retirement Adjusted Operating Income (Post-FY2023 Reporting) Growth | -10.98% |
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| Corporate and All Other Adjusted Operating Income | -179.90M |
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| Corporate and All Other Adjusted Operating Income Growth | 17.17% |
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| Managed Accounts Assets Under Management / Advisement | 160.40B |
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| Managed Accounts Assets Under Management / Advisement Growth | 14.54% |
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| Fiduciary Services Assets Under Management / Advisement | 65.80B |
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| Fiduciary Services Assets Under Management / Advisement Growth | 1.12% |
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| Custom Models / CIT Assets Under Management / Advisement | 49.70B |
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| Custom Models / CIT Assets Under Management / Advisement Growth | 12.75% |
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| Average Assets Under Management / Advisement | 312.40B |
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| Average Assets Under Management / Advisement Growth | 13.74% |
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| Morningstar Direct Licenses | 18.76K |
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| Morningstar Direct Licenses Growth | - |
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| Morningstar Investor Memberships | 97.31K |
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| Morningstar Investor Memberships Growth | - |
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| Revenue Renewal Rates for License-Based Products and Services | 100.00 |
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| Revenue Renewal Rates for License-Based Products and Services Growth | - |
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| Morningstar Managed Portfolios Assets Under Management / Advisement | 43.80B |
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| Morningstar Managed Portfolios Assets Under Management / Advisement Growth | 13.88% |
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| Institutional Asset Management Assets Under Management / Advisement | 7.00B |
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| Institutional Asset Management Assets Under Management / Advisement Growth | -20.55% |
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| Asset Allocation Services Assets Under Management / Advisement | 11.50B |
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| Asset Allocation Services Assets Under Management / Advisement Growth | 34.00% |
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| Asset Value Linked to Morningstar Indexes | 210.90B |
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| Asset Value Linked to Morningstar Indexes Growth | 6.45% |
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| PitchBook Platform Licenses | 125.49K |
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| PitchBook Platform Licenses Growth | - |
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