Morningstar, Inc. (MORN)
Morningstar, Inc. reported revenue of 663.2M USD for the quarter ending 30 June 2026, up 9.6% from 605.1M a year earlier.
Every figure below is the company's own, as filed. Nothing is estimated and
nothing is smoothed — a period the filing does not support is left blank rather than
filled in.
Quarters are the company's own, counted from its financial
year ending 12-31.
Amounts in USD.
The same series drawn ›
As last reported
The newest period the filing supports for each figure, in USD.
| Figure | Period | Amount | Year on year |
|---|
| Revenue |
Q2 '26 · ending 30 June 2026 |
663.2M |
+9.6% |
| Gross Profit |
Q2 '26 · ending 30 June 2026 |
423.9M |
+13.2% |
| Operating Income |
Q2 '26 · ending 30 June 2026 |
160.6M |
+28.4% |
| Net Income |
Q2 '26 · ending 30 June 2026 |
107.8M |
+21.1% |
| Cost of Revenue |
Q2 '26 · ending 30 June 2026 |
239.3M |
+3.8% |
| Operating Cash Flow |
Q2 '26 · ending 30 June 2026 |
155.7M |
+57.3% |
| Free Cash Flow |
Q2 '26 · ending 30 June 2026 |
122.5M |
+96.3% |
| Shares Outstanding |
Q2 '26 · ending 30 June 2026 |
38.1M |
-11.6% |
| EPS |
Q2 '26 · ending 30 June 2026 |
10.52 |
+12.0% |
Revenue and profit by financial year
As filed, in USD. A year the filing does not support is not listed.
| Year | Ending |
Revenue | Operating Income | Net Income | Free Cash Flow |
|---|
| 2025 | 2025-12-31 |
2.4B | 526.6M | 374.2M | 442.6M |
|---|
| 2024 | 2024-12-31 |
2.3B | 484.8M | 369.9M | 448.9M |
|---|
| 2023 | 2023-12-31 |
2B | 230.6M | 141.1M | 197.3M |
|---|
| 2022 | 2022-12-31 |
1.9B | 167.8M | 70.5M | 168.3M |
|---|
| 2021 | 2021-12-31 |
1.7B | 257M | 193.3M | 348.1M |
|---|
| 2020 | 2020-12-31 |
1.4B | 215.2M | 223.6M | 307.6M |
|---|
| 2019 | 2019-12-31 |
1.2B | 189.6M | 152M | 254.4M |
|---|
| 2018 | 2018-12-31 |
1B | 215.8M | 183M | 238.7M |
|---|
| 2017 | 2017-12-31 |
911.7M | 169.8M | 136.9M | 183.5M |
|---|
| 2016 | 2016-12-31 |
798.6M | 180.8M | 161M | 150.9M |
|---|
Every period
Revenue Quarterly
| Period | Ending | Revenue |
|---|
| Q2 '26 | 2026-06-30 | 663.2M |
|---|
| Q1 '26 | 2026-03-31 | 644.8M |
|---|
| Q4 '25 | 2025-12-31 | 641.1M |
|---|
| Q3 '25 | 2025-09-30 | 617.4M |
|---|
| Q2 '25 | 2025-06-30 | 605.1M |
|---|
| Q1 '25 | 2025-03-31 | 581.9M |
|---|
| Q4 '24 | 2024-12-31 | 591M |
|---|
| Q3 '24 | 2024-09-30 | 569.4M |
|---|
| Q2 '24 | 2024-06-30 | 571.9M |
|---|
| Q1 '24 | 2024-03-31 | 542.8M |
|---|
| Q4 '23 | 2023-12-31 | 538.7M |
|---|
| Q3 '23 | 2023-09-30 | 515.5M |
|---|
| Q2 '23 | 2023-06-30 | 504.7M |
|---|
| Q1 '23 | 2023-03-31 | 479.7M |
|---|
| Q4 '22 | 2022-12-31 | 475M |
|---|
| Q3 '22 | 2022-09-30 | 468.2M |
|---|
| Q2 '22 | 2022-06-30 | 470.4M |
|---|
| Q1 '22 | 2022-03-31 | 457M |
|---|
| Q4 '21 | 2021-12-31 | 462.2M |
|---|
| Q3 '21 | 2021-09-30 | 428.9M |
|---|
Gross Profit Quarterly
Revenue minus cost of sales. This filer tags no gross profit of its own..
| Period | Ending | Gross Profit |
|---|
| Q2 '26 | 2026-06-30 | 423.9M |
|---|
| Q1 '26 | 2026-03-31 | 405.9M |
|---|
| Q4 '25 | 2025-12-31 | 391.9M |
|---|
| Q3 '25 | 2025-09-30 | 375.7M |
|---|
| Q2 '25 | 2025-06-30 | 374.5M |
|---|
| Q1 '25 | 2025-03-31 | 350.5M |
|---|
| Q4 '24 | 2024-12-31 | 358.8M |
|---|
| Q3 '24 | 2024-09-30 | 346.7M |
|---|
| Q2 '24 | 2024-06-30 | 349.2M |
|---|
| Q1 '24 | 2024-03-31 | 324.7M |
|---|
| Q4 '23 | 2023-12-31 | 333.3M |
|---|
| Q3 '23 | 2023-09-30 | 312.6M |
|---|
| Q2 '23 | 2023-06-30 | 288.3M |
|---|
| Q1 '23 | 2023-03-31 | 260.9M |
|---|
| Q4 '22 | 2022-12-31 | 280M |
|---|
| Q3 '22 | 2022-09-30 | 272.8M |
|---|
| Q2 '22 | 2022-06-30 | 272.8M |
|---|
| Q1 '22 | 2022-03-31 | 265.7M |
|---|
| Q4 '21 | 2021-12-31 | 272.6M |
|---|
| Q3 '21 | 2021-09-30 | 245.8M |
|---|
Operating Income Quarterly
| Period | Ending | Operating Income |
|---|
| Q2 '26 | 2026-06-30 | 160.6M |
|---|
| Q1 '26 | 2026-03-31 | 155.9M |
|---|
| Q4 '25 | 2025-12-31 | 159.6M |
|---|
| Q3 '25 | 2025-09-30 | 127.8M |
|---|
| Q2 '25 | 2025-06-30 | 125.1M |
|---|
| Q1 '25 | 2025-03-31 | 114.1M |
|---|
| Q4 '24 | 2024-12-31 | 168.2M |
|---|
| Q3 '24 | 2024-09-30 | 115.5M |
|---|
| Q2 '24 | 2024-06-30 | 108.5M |
|---|
| Q1 '24 | 2024-03-31 | 92.6M |
|---|
| Q4 '23 | 2023-12-31 | 94.4M |
|---|
| Q3 '23 | 2023-09-30 | 70M |
|---|
| Q2 '23 | 2023-06-30 | 41.7M |
|---|
| Q1 '23 | 2023-03-31 | 24.5M |
|---|
| Q4 '22 | 2022-12-31 | 35.5M |
|---|
| Q3 '22 | 2022-09-30 | 22M |
|---|
| Q2 '22 | 2022-06-30 | 53.9M |
|---|
| Q1 '22 | 2022-03-31 | 56.4M |
|---|
| Q4 '21 | 2021-12-31 | 74.8M |
|---|
| Q3 '21 | 2021-09-30 | 67.8M |
|---|
Net Income Quarterly
| Period | Ending | Net Income |
|---|
| Q2 '26 | 2026-06-30 | 107.8M |
|---|
| Q1 '26 | 2026-03-31 | 107.1M |
|---|
| Q4 '25 | 2025-12-31 | 115.1M |
|---|
| Q3 '25 | 2025-09-30 | 91.6M |
|---|
| Q2 '25 | 2025-06-30 | 89M |
|---|
| Q1 '25 | 2025-03-31 | 78.5M |
|---|
| Q4 '24 | 2024-12-31 | 116.9M |
|---|
| Q3 '24 | 2024-09-30 | 119.7M |
|---|
| Q2 '24 | 2024-06-30 | 69.1M |
|---|
| Q1 '24 | 2024-03-31 | 64.2M |
|---|
| Q4 '23 | 2023-12-31 | 73.5M |
|---|
| Q3 '23 | 2023-09-30 | 39.1M |
|---|
| Q2 '23 | 2023-06-30 | 36.1M |
|---|
| Q1 '23 | 2023-03-31 | -7.6M |
|---|
| Q4 '22 | 2022-12-31 | 3.3M |
|---|
| Q3 '22 | 2022-09-30 | -9M |
|---|
| Q2 '22 | 2022-06-30 | 30.1M |
|---|
| Q1 '22 | 2022-03-31 | 46.1M |
|---|
| Q4 '21 | 2021-12-31 | 56.5M |
|---|
| Q3 '21 | 2021-09-30 | 49M |
|---|
Cost of Revenue Quarterly
| Period | Ending | Cost of Revenue |
|---|
| Q2 '26 | 2026-06-30 | 239.3M |
|---|
| Q1 '26 | 2026-03-31 | 238.9M |
|---|
| Q4 '25 | 2025-12-31 | 249.2M |
|---|
| Q3 '25 | 2025-09-30 | 241.7M |
|---|
| Q2 '25 | 2025-06-30 | 230.6M |
|---|
| Q1 '25 | 2025-03-31 | 231.4M |
|---|
| Q4 '24 | 2024-12-31 | 232.2M |
|---|
| Q3 '24 | 2024-09-30 | 222.7M |
|---|
| Q2 '24 | 2024-06-30 | 222.7M |
|---|
| Q1 '24 | 2024-03-31 | 218.1M |
|---|
| Q4 '23 | 2023-12-31 | 205.4M |
|---|
| Q3 '23 | 2023-09-30 | 202.9M |
|---|
| Q2 '23 | 2023-06-30 | 216.4M |
|---|
| Q1 '23 | 2023-03-31 | 218.8M |
|---|
| Q4 '22 | 2022-12-31 | 195M |
|---|
| Q3 '22 | 2022-09-30 | 195.4M |
|---|
| Q2 '22 | 2022-06-30 | 197.6M |
|---|
| Q1 '22 | 2022-03-31 | 191.3M |
|---|
| Q4 '21 | 2021-12-31 | 189.6M |
|---|
| Q3 '21 | 2021-09-30 | 183.1M |
|---|
Operating Cash Flow Quarterly
| Period | Ending | Operating Cash Flow |
|---|
| Q2 '26 | 2026-06-30 | 155.7M |
|---|
| Q1 '26 | 2026-03-31 | 91.5M |
|---|
| Q4 '25 | 2025-12-31 | 204M |
|---|
| Q3 '25 | 2025-09-30 | 195.7M |
|---|
| Q2 '25 | 2025-06-30 | 99M |
|---|
| Q1 '25 | 2025-03-31 | 91M |
|---|
| Q4 '24 | 2024-12-31 | 153.4M |
|---|
| Q3 '24 | 2024-09-30 | 191.9M |
|---|
| Q2 '24 | 2024-06-30 | 152.7M |
|---|
| Q1 '24 | 2024-03-31 | 93.6M |
|---|
| Q4 '23 | 2023-12-31 | 137.8M |
|---|
| Q3 '23 | 2023-09-30 | 130.7M |
|---|
| Q2 '23 | 2023-06-30 | 24.5M |
|---|
| Q1 '23 | 2023-03-31 | 23.4M |
|---|
| Q4 '22 | 2022-12-31 | 103.5M |
|---|
| Q3 '22 | 2022-09-30 | 102.1M |
|---|
| Q2 '22 | 2022-06-30 | 68.7M |
|---|
| Q1 '22 | 2022-03-31 | 23.5M |
|---|
| Q4 '21 | 2021-12-31 | 135.9M |
|---|
| Q3 '21 | 2021-09-30 | 122.6M |
|---|
Free Cash Flow Quarterly
Operating cash flow minus capital expenditure.
| Period | Ending | Free Cash Flow |
|---|
| Q2 '26 | 2026-06-30 | 122.5M |
|---|
| Q1 '26 | 2026-03-31 | 53.6M |
|---|
| Q4 '25 | 2025-12-31 | 161.3M |
|---|
| Q3 '25 | 2025-09-30 | 160.1M |
|---|
| Q2 '25 | 2025-06-30 | 62.4M |
|---|
| Q1 '25 | 2025-03-31 | 58.8M |
|---|
| Q4 '24 | 2024-12-31 | 112.8M |
|---|
| Q3 '24 | 2024-09-30 | 155.8M |
|---|
| Q2 '24 | 2024-06-30 | 120.8M |
|---|
| Q1 '24 | 2024-03-31 | 59.5M |
|---|
| Q4 '23 | 2023-12-31 | 107.8M |
|---|
| Q3 '23 | 2023-09-30 | 101.4M |
|---|
| Q2 '23 | 2023-06-30 | -5.8M |
|---|
| Q1 '23 | 2023-03-31 | -6.1M |
|---|
| Q4 '22 | 2022-12-31 | 67.4M |
|---|
| Q3 '22 | 2022-09-30 | 68.4M |
|---|
| Q2 '22 | 2022-06-30 | 37M |
|---|
| Q1 '22 | 2022-03-31 | -4.5M |
|---|
| Q4 '21 | 2021-12-31 | 105.7M |
|---|
| Q3 '21 | 2021-09-30 | 92.4M |
|---|
Shares Outstanding Quarterly
Weighted average diluted, as the filer reports it for each period. An average cannot be added across periods, so this one is always shown per period the filer tagged rather than as a trailing year.
| Period | Ending | Shares Outstanding |
|---|
| Q2 '26 | 2026-06-30 | 38.1M |
|---|
| Q1 '26 | 2026-03-31 | 39.3M |
|---|
| Q3 '25 | 2025-09-30 | 42.3M |
|---|
| Q2 '25 | 2025-06-30 | 42.5M |
|---|
| Q1 '25 | 2025-03-31 | 43.1M |
|---|
| Q3 '24 | 2024-09-30 | 43.2M |
|---|
| Q2 '24 | 2024-06-30 | 43.1M |
|---|
| Q1 '24 | 2024-03-31 | 43M |
|---|
| Q3 '23 | 2023-09-30 | 42.9M |
|---|
| Q2 '23 | 2023-06-30 | 42.8M |
|---|
| Q1 '23 | 2023-03-31 | 42.5M |
|---|
| Q3 '22 | 2022-09-30 | 42.7M |
|---|
| Q2 '22 | 2022-06-30 | 42.9M |
|---|
| Q1 '22 | 2022-03-31 | 43.3M |
|---|
| Q3 '21 | 2021-09-30 | 43.4M |
|---|
| Q2 '21 | 2021-06-30 | 43.3M |
|---|
| Q1 '21 | 2021-03-31 | 43.3M |
|---|
| Q4 '20 | 2020-12-31 | 43.2M |
|---|
| Q3 '20 | 2020-09-30 | 43.2M |
|---|
| Q2 '20 | 2020-06-30 | 43.2M |
|---|
EPS TTM
The filer's own published earnings a share for each quarter, four quarters added up. The company page divides trailing net income by the share count instead, which lands within about 1% of this and is not the same sum, so the two are named differently rather than presented as one figure.
| Period | Ending | EPS |
|---|
| Q2 '26 | 2026-06-30 | 10.52 |
|---|
| Q1 '26 | 2026-03-31 | 9.78 |
|---|
| Q4 '25 | 2025-12-31 | 8.87 |
|---|
| Q3 '25 | 2025-09-30 | 8.79 |
|---|
| Q2 '25 | 2025-06-30 | 9.39 |
|---|
| Q1 '25 | 2025-03-31 | 8.90 |
|---|
| Q4 '24 | 2024-12-31 | 8.57 |
|---|
| Q3 '24 | 2024-09-30 | 7.57 |
|---|
| Q2 '24 | 2024-06-30 | 5.71 |
|---|
| Q1 '24 | 2024-03-31 | 4.95 |
|---|
| Q4 '23 | 2023-12-31 | 3.28 |
|---|
| Q3 '23 | 2023-09-30 | 1.66 |
|---|
| Q2 '23 | 2023-06-30 | 0.54 |
|---|
| Q1 '23 | 2023-03-31 | 0.40 |
|---|
| Q4 '22 | 2022-12-31 | 1.64 |
|---|
| Q3 '22 | 2022-09-30 | 2.84 |
|---|
| Q2 '22 | 2022-06-30 | 4.18 |
|---|
| Q1 '22 | 2022-03-31 | 4.24 |
|---|
| Q4 '21 | 2021-12-31 | 4.45 |
|---|
| Q3 '21 | 2021-09-30 | 4.91 |
|---|