Stocks · Financial Services · Financial - Data & Stock Exchanges
Morningstar, Inc. MORN
$189.16 +3.06% Close, Oct 5, 2026 · NASDAQ · Market cap $6.89B
High qualityHigh risk
Next earnings report: Oct 28, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- The diluted share count fell 11.0% in a year, mainly through buybacks.
- At 17.9× trailing earnings, the shares trade at the lowest P/E of the company's past five years.
- Earnings beat analyst estimates in each of the last 7 quarters (average surprise over the last four: +16.3%).
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 6, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 41%
- EPS growth (TTM, YoY)Bottom 41%
- FCF growth (TTM, YoY)Top 42%
- Revenue growth, 3-year CAGRBottom 28%
- Revenue growth accelerationTop 38%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 8%
- Gross marginBottom 41%
- Operating marginTop 46%
- Cash conversion (OCF / net income)Top 29%
- Accruals (lower is better)Top 14%
- Net debt / EBITDA (lower is better)Bottom 45%
- Interest coverTop 13%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 45%
- Free-cash-flow yieldBottom 45%
- EBITDA / enterprise valueTop 30%
- Sales / enterprise valueTop 50%
- P/E vs own 5-year history (lower is better)Top 3%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthBottom 21%
- 6-month returnTop 44%
- 1-year return vs S&P 500Bottom 18%
- Distance from 52-week highBottom 28%
- Trend checklist (0–4)Top 48%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 17%
- Consecutive EPS beatsTop 16%
- Share of analysts rating BuyBottom 30%
- Upside to consensus price targetTop 37%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 16%
- Maximum drawdown, 3 yearsBottom 12%
- Beta vs S&P 500 (lower is better)Bottom 34%
- Net debt / EBITDA (lower is better)Bottom 45%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 8.4% | 9.3% | ↑ |
| EPS growth (YoY) | 10.3% | 12.5% | ↑ |
| Gross margin | 60.9% | 62.2% | ↑ |
| Operating margin | 22.3% | 23.5% | ↑ |
| FCF margin | 16.6% | 19.4% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 9.3% | 8.4% | ↑ | Top 41% |
| EPS growth (TTM, YoY) | 12.5% | 10.3% | ↑ | Bottom 41% |
| Gross margin | 62.2% | 60.9% | ↑ | Bottom 41% |
| Operating margin | 23.5% | 22.3% | ↑ | Top 46% |
| Net margin | 16.4% | 17.2% | ↓ | — |
| Free-cash-flow margin | 19.4% | 16.6% | ↑ | — |
| Return on invested capital | 15.0% | — | Top 8% | |
| Revenue growth, 3-year CAGR | 9.3% | — | Bottom 28% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- 1.53×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -5.7%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 2.2%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- -10.9 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 1.74×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 11.3×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 1.12%
- Net buyback yield (TTM)
- 14.02%
- Shareholder yield
- 15.14%
- Share count change, 1 year
- -11.0%
- Share count change, 3-year CAGR
- -3.8%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Jul 29, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 7
- Beats in the last 8 reports
- 7 of 8
- Average EPS surprise, last 4
- +16.3%
- Average 2-day reaction, last 8
- -0.3%
- Positive 20 days after report
- 3 of 8
Analysts
- Consensus price target
- $227.33
- Target vs current price
- +20.2%
- Analysts with a rating
- 6
- Share rating Buy or Strong Buy
- 33%
- Consensus rating
- Hold
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 29, 2026 | +9.5% | +2.3% | +3.2% | +10.8% | — |
| Apr 29, 2026 | +32.0% | +2.1% | -9.3% | -3.8% | -6.1% |
| Feb 12, 2026 | +14.8% | -0.9% | +4.2% | +16.5% | +13.7% |
| Oct 29, 2025 | +9.0% | -4.3% | -3.0% | -2.1% | -3.2% |
| Jul 30, 2025 | +8.6% | -0.9% | -8.6% | -9.2% | -23.3% |
| Apr 30, 2025 | +8.3% | +0.8% | +4.0% | +8.6% | -1.5% |
| Feb 26, 2025 | +3.9% | -1.0% | -7.5% | -5.6% | -5.4% |
| Oct 23, 2024 | -0.5% | -0.5% | -2.9% | -2.5% | -3.6% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 29, 2026 | $3.10 | $2.83 | +9.5% | $663.2M |
| Apr 29, 2026 | $3.18 | $2.41 | +32.0% | $644.8M |
| Feb 12, 2026 | $2.71 | $2.36 | +14.8% | $641.1M |
| Oct 29, 2025 | $2.55 | $2.34 | +9.0% | $617.4M |
| Jul 30, 2025 | $2.40 | $2.21 | +8.6% | $605.1M |
| Apr 30, 2025 | $2.23 | $2.06 | +8.3% | $581.9M |
| Feb 26, 2025 | $2.14 | $2.06 | +3.9% | $591.0M |
| Oct 23, 2024 | $2.00 | $2.01 | -0.5% | $569.4M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 17.9× | 57.8× | 0th | Bottom 45% |
| P/E (forward) | 15.4× | — | — | — |
| EV / EBITDA | 10.2× | — | — | Top 30% |
| EV / Sales | 3.23× | — | — | Top 50% |
| Free-cash-flow yield | 7.23% | — | — | Bottom 45% |
| Earnings yield | 5.58% | — | — | Bottom 45% |
P/E over the past five years
Range 18.0× – 399.2× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- -16.4%
- Earnings per share growth (TTM)
- +12.5%
- Change in P/E multiple
- -36.1%
Most of the move came from a change in the valuation multiple.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 1
- 50-day average slope (20 days)
- +6.2%
- 200-day average slope (20 days)
- -1.0%
- Distance from 50-day average
- -6.3%
- Distance from 200-day average
- +1.6%
- RSI (14)
- 42.5
- Relative volume
- 0.99×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 39.6%
- Volatility vs own 5-year history
- 82th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 0.83
- Correlation with S&P 500
- 0.36
- Current drawdown from 1-year high
- -17.1%
- Maximum drawdown, 3 years
- -60.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Dec 12, 2024 | Jun 25, 2026 | -60.5% | 382 days | Not yet recovered |
| Dec 27, 2021 | Apr 27, 2023 | -50.4% | 335 days | 387 days (Nov 8, 2024) |
| Apr 29, 2021 | Jun 7, 2021 | -12.9% | 26 days | 41 days (Aug 4, 2021) |
| Feb 16, 2021 | Feb 25, 2021 | -11.8% | 7 days | 42 days (Apr 27, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $6.89B
- P/E (TTM)
- 17.9
- EPS, diluted (TTM)
- $10.56
- Revenue (TTM)
- $2.57B
- Dividend yield
- 1.06%
- 52-week range
- $141.49 – $228.95
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $1.70B | $1.87B | $2.04B | $2.28B | $2.45B |
| Gross profit | $1.00B | $1.09B | $1.20B | $1.38B | $1.49B |
| Operating income | $257.0M | $167.8M | $230.6M | $484.8M | $526.6M |
| Net income | $193.3M | $70.5M | $141.1M | $369.9M | $374.2M |
| EPS (diluted) | $4.45 | $1.64 | $3.29 | $8.58 | $8.87 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $569.4M | $591.0M | $581.9M | $605.1M | $617.4M | $641.1M | $644.8M | $663.2M |
| Net income | $119.7M | $116.9M | $78.5M | $89.0M | $91.6M | $115.1M | $107.1M | $107.8M |
| EPS (diluted) | $2.77 | $2.71 | $1.82 | $2.09 | $2.17 | $2.83 | $2.73 | $2.83 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $449.9M | $297.8M | $316.4M | $591.6M | $589.7M |
| Capital expenditure | -$101.8M | -$129.5M | -$119.1M | -$142.7M | -$147.1M |
| Free cash flow | $348.1M | $168.3M | $197.3M | $448.9M | $442.6M |
| Dividends paid | -$54.2M | -$61.5M | -$63.9M | -$69.3M | -$76.9M |
| Net share buybacks | -$1.1M | -$226.0M | -$1.4M | -$11.6M | -$787.0M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $523.8M
- Total assets
- $3.95B
- Total liabilities
- $2.92B
- Total debt
- $1.90B
- Net debt
- $1.42B
- Shareholders’ equity
- $1.02B
As of Jun 30, 2026 (filed Jul 29, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Oct 2, 2026 | $0.50 | Oct 30, 2026 |
| Jul 10, 2026 | $0.50 | Jul 31, 2026 |
| Apr 2, 2026 | $0.50 | Apr 30, 2026 |
| Jan 2, 2026 | $0.50 | Jan 30, 2026 |
| Oct 3, 2025 | $0.46 | Oct 31, 2025 |
| Jul 11, 2025 | $0.46 | Jul 31, 2025 |
| Apr 4, 2025 | $0.46 | Apr 30, 2025 |
| Jan 3, 2025 | $0.46 | Jan 31, 2025 |
Short interest
- Shares sold short
- 1,434,731
- Days to cover
- 4.98
- Change vs previous report
- +2.8%
FINRA short interest, settlement date Sep 15, 2026.