Market Summary
USD241.44+4.56
Market Closed1.93%
MORN Alerts
MORN Stock Price
MORN RSI Chart
MORN Valuation
MORN Price/Sales (Trailing)
MORN Profitability
MORN Fundamentals
MORN Revenue
MORN Earnings
Price Action
52 Week Range
207.11298.51
(Low)(High)
Last 7 days
0.3%
Last 30 days
15.2%
Last 90 days
3.1%
Trailing 12 Months
-8.5%
MORN Financial Health
MORN Investor Care
Peers (Alternatives to Morningstar)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
BX | 68.0B | 12.6B | 32.84% | -15.74% | 26.26 | 5.4 | -38.48% | -50.30% |
KKR | 44.6B | 7.2B | 10.72% | -30.31% | -106.97 | 6.15 | -48.93% | -107.37% |
AMP | 33.8B | - | 13.10% | 15.34% | 10.39 | 2.44 | 6.62% | 23.70% |
BEN | 15.3B | 8.3B | 18.79% | 1.50% | 11.88 | 1.85 | -1.78% | -29.45% |
| MID-CAP | ||||||||
IVZ | 8.3B | - | 2.35% | -11.79% | 9.02 | 1.05 | 2.53% | -21.61% |
AMG | 6.4B | 2.5B | 7.50% | 21.24% | 11.73 | 2.58 | 9.09% | 8.59% |
HLI | 6.2B | 1.2B | 10.61% | -4.48% | 26.59 | 5.27 | -39.99% | -44.40% |
EVR | 5.0B | 3.1B | 17.30% | 12.82% | 7.91 | 1.63 | -1.79% | -4.92% |
JHG | 4.3B | 2.4B | 11.36% | -23.48% | 13.4 | 1.79 | -12.52% | -53.48% |
LAZ | 3.8B | 3.1B | 17.84% | 2.83% | 7.26 | 1.22 | -0.74% | 3.54% |
| SMALL-CAP | ||||||||
AMK | 2.0B | 597.8M | 16.04% | 14.93% | 21.72 | 3.27 | 20.12% | 2505.47% |
DHIL | 570.3M | 162.6M | 6.10% | 11.13% | 13.09 | 3.51 | -6.65% | -38.27% |
VALU | 506.5M | 40.4M | 6.98% | 3.46% | 27.82 | 12.54 | 1.01% | -33.76% |
SCU | 233.1M | 554.5M | 12.43% | -49.38% | 92.91 | 0.42 | -42.93% | -98.83% |
PZN | 161.6M | 197.7M | 0.84% | -7.62% | 4 | 0.82 | 5.01% | -33.91% |
Financials for Morningstar
| Income Statement (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 |
| Revenue | 2.2% | 1,858 | 1,819 | 1,764 | 1,699 | 1,618 |
| S&GA Expenses | 5.3% | 336 | 320 | 294 | 275 | 257 |
| Costs and Expenses | 5.4% | 1,651 | 1,566 | 1,517 | 1,442 | 1,370 |
| EBITDA | -12.6% | 354 | 406 | 408 | - | - |
| EBITDA Margin | -14.5% | 0.19* | 0.22* | 0.23* | - | - |
| Earnings Before Taxes | -27.3% | 174 | 240 | 246 | 251 | 270 |
| EBT Margin | -28.9% | 0.09* | 0.13* | 0.14* | - | - |
| Interest Expenses | 69.5% | 20 | 12 | 10 | 10 | 12 |
| Net Income | -31.9% | 124 | 182 | 185 | 193 | 213 |
| Net Income Margin | -33.4% | 0.07* | 0.10* | 0.10* | - | - |
| Free Cahsflow | -10.4% | 207 | 231 | 302 | - | - |
* denotes actual numbers (not divided by Millions)
| Balance Sheet | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 |
| Assets | -1.5% | 3,415 | 3,466 | 2,869 | 2,863 | 2,744 |
| Current Assets | -3.6% | 789 | 818 | 903 | 888 | 797 |
| Cash Equivalents | -2.0% | 373 | 380 | 484 | 484 | 427 |
| Net PPE | 2.8% | 188 | 183 | 177 | 172 | 165 |
| Goodwill | -2.3% | 1,542 | 1,579 | 1,203 | 1,207 | 1,209 |
| Liabilities | 0.5% | 2,236 | 2,225 | 1,518 | 1,447 | 1,359 |
| Current Liabilities | 0.6% | 806 | 801 | 721 | 784 | 693 |
| . Short Term Borrowings | 9.2% | 32 | 29 | - | - | - |
| Long Term Debt | -1.9% | 1,126 | 1,147 | 504 | 359 | 374 |
| LT Debt, Non Current | -1.6% | 1,158 | 1,176 | 504 | 359 | 374 |
| Shareholder's Equity | -5.0% | 1,179 | 1,241 | 1,352 | 1,416 | 1,386 |
| Retained Earnings | -0.6% | 1,563 | 1,572 | 1,557 | 1,527 | 1,499 |
| Additional Paid-In Capital | 2.0% | 739 | 725 | 715 | 689 | 686 |
| Accumulated Depreciation | 3.7% | 590 | 569 | 550 | 529 | 514 |
| Shares Outstanding | 0.0% | 42 | 42 | 43 | 43 | 43 |
* denotes actual numbers (not divided by Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 |
| Cashflow From Operations | -5.8% | 330 | 351 | 409 | 450 | 429 |
| Share Based Compensation | 19.0% | 69 | 58 | 48 | 42 | 40 |
| Cashflow From Investing | 2.5% | -803.30 | -823.50 | -168.00 | -167.70 | -124.50 |
| Cashflow From Financing | -4.0% | 879 | 916 | 290 | 212 | -233.10 |
| Dividend Payments | 2.9% | 60 | 58 | 56 | 54 | 53 |
| Buy Backs | 7.4% | 219 | 204 | 112 | 1 | 4 |
Risks for MORN
What is the probability of a big loss on MORN?
56.5%
Probability that Morningstar stock will be more than 20% underwater in next one year
30%
Probability that Morningstar stock will be more than 30% underwater in next one year.
0%
Probability that Morningstar stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does MORN drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Morningstar was unfortunately bought at previous high price.
Drawdowns
Returns for MORN
Cumulative Returns on MORN
14.6%
10-Year Cumulative Returns
17.9%
7-Year Cumulative Returns
20.3%
5-Year Cumulative Returns
15.9%
3-Year Cumulative Returns
What are the long-term rolling returns for MORN?
FIve years rolling returns for Morningstar.
Annualized Returns
Which funds bought or sold MORN recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-01-26 | Yorktown Management & Research Co Inc | unchanged | - | 19,973 | 1,017,970 | 1.25% |
2023-01-26 | BAKER TILLY WEALTH MANAGEMENT, LLC | reduced | -5.39 | -28,479 | 787,521 | 0.10% |
2023-01-26 | Riverview Trust Co | new | - | 12,000 | 12,000 | 0.01% |
2023-01-26 | Vigilant Capital Management, LLC | unchanged | - | - | 4,000 | -% |
2023-01-26 | CENTRAL TRUST Co | unchanged | - | 157 | 28,157 | -% |
2023-01-25 | Bard Financial Services, Inc. | unchanged | - | 5,000 | 217,000 | 0.02% |
2023-01-25 | Hanlon Investment Management, Inc. | unchanged | - | 8,180 | 433,180 | 0.15% |
2023-01-25 | Lindbrook Capital, LLC | new | - | 866 | 866 | -% |
2023-01-25 | Versant Capital Management, Inc | unchanged | - | 968 | 43,968 | 0.02% |
2023-01-25 | FIFTH THIRD BANCORP | reduced | -11.19 | -2,493 | 27,507 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
MORN Alerts
Morningstar News
Schedule 13G FIlings of Morningstar
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2022 | select equity group, l.p. | 11.3% | 4,850,288 | SC 13G/A | |
| Feb 14, 2022 | mansueto joseph d | 41.61% | 17,948,123 | SC 13G/A | |
| Nov 09, 2021 | select equity group, l.p. | 10.2% | 4,394,941 | SC 13G/A | |
| Feb 12, 2021 | select equity group, l.p. | 5.22% | 2,235,950 | SC 13G | |
| Feb 10, 2021 | mansueto joseph d | 45.55% | 19,538,844 | SC 13G/A | |
| Feb 06, 2020 | mansueto joseph d | 49.62% | 21,261,479 | SC 13G/A |
MORN Fair Value
Recent SEC filings of Morningstar
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Jan 24, 2023 | 8-K | Current Report | |
| Jan 04, 2023 | 4 | Insider Trading | |
| Jan 03, 2023 | 4 | Insider Trading | |
| Dec 29, 2022 | 4 | Insider Trading | |
| Dec 27, 2022 | 4 | Insider Trading | |
| Dec 23, 2022 | 4 | Insider Trading | |
| Dec 22, 2022 | 4 | Insider Trading | |
| Dec 22, 2022 | 8-K | Current Report | |
| Dec 21, 2022 | 4 | Insider Trading | |
| Dec 15, 2022 | 4 | Insider Trading |
Latest Insider Trading transactions for MORN
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-01-03 | Mansueto Joseph D | sold | -622,854 | 217.857 | -2,859 | executive chairman |
2022-12-29 | Mansueto Joseph D | sold | -2,087,450 | 217.442 | -9,600 | executive chairman |
2022-12-28 | Mansueto Joseph D | sold | -1,087,590 | 212.42 | -5,120 | executive chairman |
2022-12-27 | Mansueto Joseph D | sold | -927,817 | 212.949 | -4,357 | executive chairman |
2022-12-23 | Mansueto Joseph D | sold | -301,337 | 214.322 | -1,406 | executive chairman |
2022-12-22 | Mansueto Joseph D | sold | -1,366,100 | 214.694 | -6,363 | executive chairman |
2022-12-21 | Mansueto Joseph D | sold | -3,106,040 | 214.209 | -14,500 | executive chairman |
2022-12-20 | Mansueto Joseph D | sold | -598,008 | 213.574 | -2,800 | executive chairman |
2022-12-19 | Mansueto Joseph D | sold | -3,109,220 | 214.429 | -14,500 | executive chairman |
2022-12-14 | Mansueto Joseph D | sold | -293,553 | 232.978 | -1,260 | executive chairman |
Morningstar, Inc. provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors. It also provides Morningstar Data, an investment data spanning various databases, including equity fundamentals, managed investments, ESG factors, and market data; Morningstar Direct, an investment-analysis platform; Morningstar Managed Portfolios, an advisor service consisting of model portfolio that offers services for independent financial advisors, as well as offers asset allocation services for asset managers, broker/dealers, and insurance providers; Morningstar Advisor Workstation, a web-based research, financial planning, and proposal generation platform; and Morningstar.com, a website for individual investors. In addition, the company offers Morningstar Enterprise Components; Morningstar Credit Ratings that provides issuance and surveillance services for structured finance products and instruments; corporate credit estimates and operational risk assessment rankings; Morningstar Indexes for creating investment products; Morningstar workplace solutions, such as retirement accounts, fiduciary services, allocation funds, and custom models; and PitchBook Platform, research and analysis workstation for investment and research professionals. Further, its PitchBook provides a mobile application, excel plug-in, data feeds, and data solutions. The company was incorporated in 1984 and is headquartered in Chicago, Illinois.
MORN Income Statement
2022-09-30Condensed Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
| Income Statement [Abstract] | ||||
| Revenue | $ 468.2 | $ 428.9 | $ 1,395.6 | $ 1,237.1 |
| Operating expense: | ||||
| Cost of revenue | 195.4 | 183.1 | 584.3 | 508.8 |
| Sales and marketing | 89.7 | 72.9 | 262.9 | 201.3 |
| General and administrative | 116.9 | 67.0 | 294.3 | 232.5 |
| Depreciation and amortization | 44.2 | 38.1 | 121.8 | 112.3 |
| Total operating expense | 446.2 | 361.1 | 1,263.3 | 1,054.9 |
| Operating income | 22.0 | 67.8 | 132.3 | 182.2 |
| Non-operating loss, net: | ||||
| Interest expense, net | (10.5) | (2.3) | (17.3) | (7.3) |
| Realized gains (losses) on sale of investments, reclassified from other comprehensive income | 0.0 | 1.2 | (2.1) | 4.1 |
| Other loss, net | (13.8) | (3.5) | (12.9) | (2.7) |
| Non-operating loss, net | (24.3) | (4.6) | (32.3) | (5.9) |
| Income before income taxes and equity in net income (loss) of unconsolidated entities | (2.3) | 63.2 | 100.0 | 176.3 |
| Equity in net income (loss) of unconsolidated entities | (1.3) | 1.9 | (2.7) | 4.6 |
| Income tax expense | 5.4 | 16.1 | 30.1 | 44.1 |
| Consolidated net income | $ (9.0) | $ 49.0 | $ 67.2 | $ 136.8 |
| Net income per share: | ||||
| Basic (in dollars per share) | $ (0.21) | $ 1.14 | $ 1.57 | $ 3.18 |
| Diluted (in dollars per share) | (0.21) | 1.13 | 1.56 | 3.16 |
| Dividends declared (in dollars per share) | 0 | 0 | 0.72 | 0.63 |
| Dividends paid per common share (in dollars per share) | $ 0.36 | $ 0.32 | $ 1.08 | $ 0.95 |
| Weighted average shares outstanding: | ||||
| Basic (in shares) | 42.5 | 43.1 | 42.7 | 43.0 |
| Diluted (in shares) | 42.7 | 43.4 | 43.0 | 43.3 |
MORN Balance Sheet
2022-09-30Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 372.7 | $ 483.8 |
| Investments | 34.4 | 62.3 |
| Accounts receivable, less allowance for credit losses of $5.4 million and $4.5 million, respectively | 284.5 | 268.9 |
| Income tax receivable | 9.5 | 8.9 |
| Deferred commissions | 36.9 | 31.2 |
| Prepaid expenses | 39.6 | 30.6 |
| Other current assets | 11.2 | 1.9 |
| Total current assets | 788.8 | 887.6 |
| Goodwill | 1,542.4 | 1,207.0 |
| Intangible assets, net | 559.1 | 328.2 |
| Property, equipment, and capitalized software, less accumulated depreciation and amortization of $590.4 million and $529.2 million, respectively | 187.8 | 171.8 |
| Operating lease assets | 185.5 | 149.2 |
| Investments in unconsolidated entities | 96.9 | 63.3 |
| Deferred tax asset, net | 11.5 | 12.8 |
| Deferred commissions | 32.5 | 31.1 |
| Other assets | 10.6 | 11.7 |
| Total assets | 3,415.1 | 2,862.7 |
| Current liabilities: | ||
| Deferred revenue | 424.8 | 377.4 |
| Accrued compensation | 194.9 | 273.7 |
| Accounts payable and accrued liabilities | 67.1 | 76.5 |
| Current portion of long-term debt | 32.1 | 0.0 |
| Operating lease liabilities | 37.1 | 36.4 |
| Contingent consideration liability | 46.4 | 17.3 |
| Other current liabilities | 4.0 | 2.2 |
| Total current liabilities | 806.4 | 783.5 |
| Operating lease liabilities | 162.5 | 135.7 |
| Accrued compensation | 19.1 | 16.3 |
| Deferred tax liabilities, net | 72.5 | 101.7 |
| Long-term debt | 1,125.5 | 359.4 |
| Deferred revenue | 35.3 | 36.4 |
| Other long-term liabilities | 14.8 | 13.8 |
| Total liabilities | 2,236.1 | 1,446.8 |
| Morningstar, Inc. shareholders’ equity: | ||
| Common stock, no par value, 200,000,000 shares authorized, of which 42,472,580 and 43,136,273 shares were outstanding as of September 30, 2022 and December 31, 2021, respectively | 0.0 | 0.0 |
| Treasury stock at cost, 11,969,583 and 11,124,021 shares as of September 30, 2022 and December 31, 2021, respectively | (982.2) | (764.3) |
| Additional paid-in capital | 738.9 | 689.0 |
| Retained earnings | 1,563.0 | 1,526.5 |
| Accumulated other comprehensive loss: | ||
| Currency translation adjustment | (140.7) | (40.8) |
| Unrealized gain on available-for-sale investments | 0.0 | 5.5 |
| Total accumulated other comprehensive loss | (140.7) | (35.3) |
| Total equity | 1,179.0 | 1,415.9 |
| Total liabilities and equity | $ 3,415.1 | $ 2,862.7 |