Company Valuation: Morningstar, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 14,738 9,193 12,222 14,442 8,938 6,582 - -
Change - -37.62% 32.95% 18.16% -38.11% -26.36% - -
Enterprise Value (EV) 1 14,738 10,003 12,806 14,589 9,482 7,083 6,828 6,582
Change - -32.13% 28.02% 13.93% -35.01% -25.3% -3.59% -3.61%
P/E ratio - 132x 87x 39.2x 24.5x 15.6x 13.5x 9.97x
PBR - - - 8.97x 7.51x 4.62x 3.87x 3.98x
PEG - - 1x 0x 7.25x 1x 0.9x 0.3x
Capitalization / Revenue - 4.91x 6x 6.35x 3.65x 2.51x 2.34x 2.14x
EV / Revenue - 5.35x 6.28x 6.41x 3.88x 2.71x 2.43x 2.14x
EV / EBITDA - 25.1x 29x 23.9x 13.2x 8.95x 7.87x 6.37x
EV / EBIT - 33.5x - 29.5x 16.3x 10.9x 9.47x 7.58x
EV / FCF - 59.4x 64.9x 32.5x 21.4x 14.5x 13x -
FCF Yield - 1.68% 1.54% 3.08% 4.67% 6.91% 7.72% -
Dividend per Share 2 - 1.44 1.5 1.67 - 1.96 2.303 2.645
Rate of return - 0.66% 0.52% 0.5% - 1.22% 1.44% 1.65%
EPS 2 - 1.64 3.29 8.58 8.87 10.23 11.82 16.05
Distribution rate - 87.8% 45.6% 19.5% - 19.2% 19.5% 16.5%
Net sales 1 - 1,871 2,039 2,275 2,446 2,617 2,807 3,082
EBITDA 1 - 398.8 440.9 611.2 716.5 791 867.5 1,033
EBIT 1 - 298.9 - 493.8 582.9 649.8 720.8 868.1
Net income 1 193.3 70.5 141.1 369.9 374.2 408.5 451.7 581.2
Net Debt 1 - 809.2 583.4 147.6 543.9 500.8 246.4 -
Reference price 2 341.99 216.59 286.24 336.76 217.31 160.03 160.03 160.03
Nbr of stocks (in thousands) 43,095 42,446 42,700 42,884 41,129 41,129 - -
Announcement Date 24/02/22 23/02/23 22/02/24 26/02/25 12/02/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
15.64x2.71x8.95x1.22% 6.58B
20.66x4.15x11.65x2.07% 30.66B
33.58x - - - 1.04B
-35.26x0.73x4x - 161M
Average 8.65x 2.53x 8.20x 1.65% 9.61B
Weighted average by Cap. 19.91x 3.88x 11.14x 1.92%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Equities
  3. MORN Stock
  4. Valuation Morningstar, Inc.