Sales 2025 by Business Segment

Sales 2025 by Geography

Historical Breakdown of Revenue by Business Segments

Operating Income: Breakdown by Business Segment

Geographical Revenue Distribution History

Breakdown by Business Segment (USD)
Fiscal Period: December 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

Financial Data Feeds

          

Morningstar Direct Platform

- - 747M 788M 831M

D&A

- - 31M 37.9M 44.7M

Operating Income

- - 340M 355M 369M

- - - - 672M

Pitchbook

- - 552M 618M 672M

D&A

- - 26.8M 31.8M 33.6M

Operating Income

- - 148M 186M 210M

OnLine Financial Information Providers

1.7B 1.87B - - -

Total Assets

2.86B 3.47B - - -

Interest Expense

-10.4M -28.4M - - -

Income Tax Expense

62.6M 56.5M - - -

CAPEX

-102M -130M - - -

EBT

256M 127M - - -

D&A

90.8M 102M - - -

Operating Income

257M 168M - - -

Net Income

193M 70.5M - - -

- - - - 831M

Business and Sovereign Credit Rating Agencies

          

Morningstar Credit

- - 215M 291M 354M

D&A

- - 9.1M 8.9M 8.1M

Operating Income

- - 21.7M 75.6M 115M

- - - - 354M

System Software for Investment and Capital Markets

          

Morningstar Wealth

- - 230M 248M 251M

D&A

- - 15.8M 18.5M 14.9M

Operating Income

- - -40.4M -9.3M 9.6M

- - - - 251M

Corporate and ALL Other

- - 184M 202M 200M

D&A

- - 19.5M 18.3M 18.3M

Operating Income

- - - -180M -189M

- - - - 200M

Investment Funds

          

Morningstar Retirement

- - 110M 127M 138M

D&A

- - 11M 10M 10.4M

Operating Income

- - 54.1M 65.6M 67.7M

- - - - 138M
Geographical breakdown of sales (USD)
Fiscal Period: December 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

United States

1.18B 1.35B 1.47B 1.64B 1.75B

Total Assets

222M 286M 279M 282M 254M

- - - - 190M

Continental Europe

159M 163M 186M 204M 220M

Total Assets

25.9M 27M 24.6M 24.4M 22.8M

- - - - 65.3M

United Kingdom

136M 134M 148M 167M 190M

Total Assets

20.8M 26M 24.1M 20.8M 13.9M

- - - - 220M

Canada

113M 110M 116M 140M 155M

Total Assets

10.9M 10M 11.8M 14.3M 25.7M

- - - - 13M

Australia

56.9M 55.8M 58.4M 62.4M 65.3M

Total Assets

7.7M 6.2M 5.1M 4M 2.6M

- - - - 155M

Asia

41.1M 44.8M 49.3M 49.6M 48M

Total Assets

32.9M 35.4M 26.4M 53.8M 71.5M

Other

9.3M 9.8M 10.5M 12.7M 13M

Total Assets

800K 800K 400K 400K 900K

- - - - 48M

- - - - 1.75B
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