Morningstar Inc - Understand $morn stock

$MORN Market Cap: $15.03 Billion

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$2.223B

TTM

Gross Margin

60.91%

TTM

Net Earnings

$326.5M

TTM

Current Assets

$1.023B

Q3 2024

Current Liabilities

$895.9M

Q3 2024

Current Ratio

114.16%

Q3 2024

Total Assets

$3.566B

Q3 2024

Total Liabilities

$2.001B

Q3 2024

Book Value

$1.566B

Q3 2024

Cash

$552.9M

Q3 2024

P/E

46.04

Nov 12, 2024 EST

Free Cash Flow

$443.9M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Revenue	$2.039B	$1.871B	$1.699B	$1.390B	$1.179B	$1.020B	$911.7M	$798.6M	$788.8M	$760.1M	$698.3M	$658.3M	$631.4M	$555.4M	$479.0M	$502.5M	$435.1M	$315.2M	$227.1M	$179.7M	$139.5M	$109.6M	$91.20M
YoY Change	8.98%	10.08%	22.3%	17.85%	15.6%	11.87%	14.16%	1.24%	3.78%	8.85%	6.08%	4.26%	13.69%	15.94%	-4.68%	15.49%	38.04%	38.79%	26.38%	28.82%	27.28%	20.18%	21.6%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Revenue	$2.039B	$1.871B	$1.699B	$1.390B	$1.179B	$1.020B	$911.7M	$798.6M	$788.8M	$760.1M	$698.3M	$658.3M	$631.4M	$555.4M	$479.0M	$502.5M	$435.1M	$315.2M	$227.1M	$179.7M	$139.5M	$109.6M	$91.20M
Cost Of Revenue	$843.5M	$779.3M	$698.4M	$556.4M	$483.1M	$411.1M	$386.6M	$344.3M	$330.1M	$318.6M	$271.4M	$246.8M	$235.3M	$157.1M	$128.6M	$130.1M	$113.8M	$87.00M	$64.40M	$54.70M	$43.50M	$39.00M	$39.50M
Gross Profit	$1.195B	$1.091B	$1.001B	$833.1M	$695.9M	$608.8M	$525.1M	$454.3M	$458.7M	$441.5M	$426.9M	$411.5M	$396.1M	$398.3M	$350.4M	$372.4M	$321.3M	$228.2M	$162.7M	$124.9M	$96.00M	$70.60M	$51.70M
Gross Profit Margin	58.62%	58.34%	58.9%	59.96%	59.02%	59.69%	57.6%	56.89%	58.15%	58.08%	61.13%	62.51%	62.74%	71.72%	73.15%	74.11%	73.85%	72.4%	71.64%	69.5%	68.82%	64.42%	56.69%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Selling, General & Admin	$779.6M	$756.9M	$593.2M	$478.4M	$388.6M	$296.3M	$264.1M	$202.8M	$203.7M	$220.0M	$210.5M	$217.7M	$214.8M	$188.3M	$155.4M	$167.2M	$147.7M	$106.2M	$88.30M	$82.80M	$84.90M	$61.50M	$54.80M
YoY Change	3.0%	27.6%	24.0%	23.11%	31.15%	12.19%	30.23%	-0.44%	-7.41%	4.51%	-3.33%	1.38%	14.05%	21.21%	-7.08%	13.2%	39.08%	20.27%	6.64%	-2.47%	38.05%	12.23%
% of Gross Profit	65.23%	69.36%	59.27%	57.42%	55.84%	48.67%	50.3%	44.64%	44.41%	49.83%	49.31%	52.91%	54.22%	47.28%	44.34%	44.9%	45.97%	46.54%	54.27%	66.29%	88.44%	87.11%	106.0%
Research & Development												$51.44M	$53.16M	$49.24M	$38.38M	$40.30M	$35.10M	$29.50M	$19.70M	$16.20M	$14.70M	$11.90M	$7.700M
YoY Change												-3.24%	7.95%	28.31%	-4.77%	14.81%	18.98%	49.75%	21.6%	10.2%	23.53%	54.55%
% of Gross Profit												12.5%	13.42%	12.36%	10.95%	10.82%	10.92%	12.93%	12.11%	12.97%	15.31%	16.86%	14.89%
Depreciation & Amortization	$184.9M	$166.6M	$150.7M	$139.5M	$117.7M	$96.70M	$91.20M	$70.70M	$64.40M	$54.90M	$45.70M	$43.10M	$42.91M	$39.66M	$31.96M	$26.00M	$21.30M	$15.00M	$8.300M	$8.200M	$7.100M	$5.500M	$5.600M
YoY Change	10.98%	10.55%	8.03%	18.52%	21.72%	6.03%	29.0%	9.78%	17.3%	20.13%	6.04%	0.43%	8.19%	24.1%	22.93%	22.07%	42.0%	80.72%	1.22%	15.49%	29.09%	-1.79%
% of Gross Profit	15.47%	15.27%	15.06%	16.74%	16.91%	15.88%	17.37%	15.56%	14.04%	12.43%	10.71%	10.47%	10.83%	9.96%	9.12%	6.98%	6.63%	6.57%	5.1%	6.57%	7.4%	7.79%	10.83%
Operating Expenses	$779.6M	$756.9M	$593.2M	$478.4M	$388.6M	$296.3M	$264.1M	$202.8M	$203.7M	$220.0M	$210.5M	$269.2M	$267.9M	$237.6M	$193.7M	$233.5M	$204.1M	$150.6M	$116.2M	$107.2M	$106.8M	$79.00M	$68.10M
YoY Change	3.0%	27.6%	24.0%	23.11%	31.15%	12.19%	30.23%	-0.44%	-7.41%	4.51%	-21.8%	0.46%	12.79%	22.61%	-17.03%	14.4%	35.52%	29.6%	8.4%	0.37%	35.19%	16.01%	-50.29%
Operating Profit	$230.6M	$167.8M	$257.0M	$215.2M	$189.6M	$215.8M	$169.8M	$180.8M	$190.6M	$105.6M	$170.7M	$150.7M	$138.4M	$121.1M	$124.7M	$138.9M	$117.2M	$77.60M	$46.50M	$17.70M	-$10.80M	-$8.400M	-$16.40M
YoY Change	37.43%	-34.71%	19.42%	13.5%	-12.14%	27.09%	-6.08%	-5.14%	80.49%	-38.14%	13.3%	8.85%	14.34%	-2.9%	-10.24%	18.52%	51.03%	66.88%	162.71%	-263.89%	28.57%	-48.78%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Interest Expense	-$51.70M	-$28.40M	-$8.700M	-$9.500M	-$8.700M	-$1.800M	-$3.600M	$300.0K	$1.300M	$2.100M	$228.0K	$311.0K	$1.318M	$281.0K	$348.0K	$5.700M	$7.100M	$4.600M	$3.100M	$1.200M	$300.0K	$1.000M	$1.600M
YoY Change	82.04%	226.44%	-8.42%	9.2%	383.33%	-50.0%	-1300.0%	-76.92%	-38.1%	821.05%	-26.69%	-76.4%	369.04%	-19.25%	-93.89%	-19.72%	54.35%	48.39%	158.33%	300.0%	-70.0%	-37.5%
% of Operating Profit	-22.42%	-16.92%	-3.39%	-4.41%	-4.59%	-0.83%	-2.12%	0.17%	0.68%	1.99%	0.13%	0.21%	0.95%	0.23%	0.28%	4.1%	6.06%	5.93%	6.67%	6.78%
Other Income/Expense, Net	-$49.10M	-$37.20M	-$6.500M	$67.80M	$8.900M	$17.10M	$11.30M	$44.10M	$3.100M	$8.400M	$7.300M	$2.957M	$1.709M	$6.732M	$2.934M	-$1.400M	-$900.0K	-$500.0K	$100.0K	$600.0K	$300.0K	$0.00	-$900.0K
YoY Change	31.99%	472.31%	-109.59%	661.8%	-47.95%	51.33%	-74.38%	1322.58%	-63.1%	15.07%	146.87%	73.03%	-74.61%	129.45%	-309.57%	55.56%	80.0%	-600.0%	-83.33%	100.0%		-100.0%	-104.35%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001
Pretax Income	$101.4M	$82.40M	$218.3M	$197.4M	$159.7M	$188.2M	$143.5M	$186.5M	$160.6M	$80.40M	$144.1M	$128.9M	$123.4M	$112.4M	$123.9M	$143.1M	$123.5M	$81.70M	$49.70M	$19.50M	-$9.600M	-$3.900M	-$15.70M
YoY Change	23.06%	-62.25%	10.59%	23.61%	-15.14%	31.15%	-23.06%	16.13%	99.75%	-44.21%	11.77%	4.48%	9.82%	-9.35%	-13.38%	15.87%	51.16%	64.39%	154.87%	-303.13%	146.15%	-75.16%	-61.99%
Income Tax	$33.00M	$56.50M	$62.60M	$59.70M	$45.60M	$47.80M	$42.90M	$63.70M	$62.70M	$35.70M	$56.00M	$52.88M	$43.66M	$42.76M	$46.78M	$54.40M	$51.30M	$33.00M	$20.20M	$11.60M	$3.000M	-$300.0K	-$5.300M
% Of Pretax Income	32.54%	68.57%	28.68%	30.24%	28.55%	25.4%	29.9%	34.16%	39.04%	44.4%	38.86%	41.02%	35.38%	38.05%	37.74%	38.02%	41.54%	40.39%	40.64%	59.49%
Net Earnings	$141.1M	$70.50M	$193.3M	$223.6M	$152.0M	$183.0M	$136.9M	$161.0M	$132.6M	$78.30M	$123.5M	$108.1M	$98.36M	$86.37M	$82.13M	$89.60M	$73.90M	$51.80M	$31.10M	$8.800M	-$11.90M	$400.0K	-$9.300M
YoY Change	100.14%	-63.53%	-13.55%	47.11%	-16.94%	33.67%	-14.97%	21.42%	69.35%	-36.6%	14.27%	9.88%	13.88%	5.16%	-8.34%	21.24%	42.66%	66.56%	253.41%	-173.95%	-3075.0%	-104.3%	-67.48%
Net Earnings / Revenue	6.92%	3.77%	11.38%	16.09%	12.89%	17.94%	15.02%	20.16%	16.81%	10.3%	17.69%	16.42%	15.58%	15.55%	17.15%	17.83%	16.98%	16.43%	13.69%	4.9%	-8.53%	0.36%	-10.2%
Basic Earnings Per Share	$3.31	$1.65	$4.50	$5.22	$3.56	$4.30	$3.21	$3.74	$3.00	$1.75	$2.68	$2.23	$1.96	$1.75	$1.71
Diluted Earnings Per Share	$3.29	$1.64	$4.45	$5.18	$3.52	$4.25	$3.18	$3.72	$3.00	$1.74	$2.66	$2.20	$1.92	$1.70	$1.65	$1.821M	$1.533M	$1.109M	$698.9K	$210.0K	-$309.9K	$10.44K	-$242.8K

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Cash & Short-Term Investments	$389.0M	$414.6M	$546.1M	$464.2M	$367.5M	$395.9M	$353.3M	$304.0M	$248.6M	$224.6M	$298.6M	$321.4M	$470.2M	$365.4M	$342.6M	$297.6M	$258.6M	$163.8M	$153.2M	$95.50M	$76.20M	$64.80M
YoY Change	-6.17%	-24.08%	17.64%	26.31%	-7.17%	12.06%	16.22%	22.28%	10.69%	-24.78%	-7.09%	-31.65%	28.68%	6.65%	15.12%	15.08%	57.88%	6.92%	60.42%	25.33%	17.59%
Cash & Equivalents	$337.9M	$376.6M	$483.8M	$422.5M	$334.1M	$369.3M	$308.2M	$259.1M	$207.1M	$185.2M	$168.2M	$163.9M	$200.4M	$180.2M	$130.5M	$173.9M	$159.6M	$96.10M	$92.40M	$35.90M	$53.50M	$44.30M
Short-Term Investments	$51.10M	$38.00M	$62.30M	$41.70M	$33.40M	$26.60M	$45.10M	$44.90M	$41.50M	$39.40M	$130.4M	$157.5M	$269.8M	$185.2M	$212.1M	$123.7M	$99.00M	$67.60M	$60.80M	$59.60M	$22.60M	$20.50M
Other Short-Term Assets	$82.20M	$47.60M	$32.50M	$37.40M	$24.00M	$16.90M	$28.30M	$22.20M	$22.00M	$29.50M	$30.30M	$24.60M	$21.10M	$20.50M	$13.70M	$17.40M	$13.20M	$8.600M	$5.500M	$6.600M	$6.400M	$8.800M
YoY Change	72.69%	46.46%	-13.1%	55.83%	42.01%	-40.28%	27.48%	0.91%	-25.42%	-2.64%	23.17%	16.59%	2.93%	49.64%	-21.26%	31.82%	53.49%	56.36%	-16.67%	3.13%	-27.27%
Inventory
Prepaid Expenses
Receivables	$343.9M	$348.6M	$300.1M	$226.2M	$205.4M	$187.0M	$148.2M	$145.8M	$139.3M	$136.7M	$114.1M	$114.4M	$113.3M	$110.9M	$82.30M	$89.50M	$86.80M	$65.20M	$47.50M	$33.70M	$22.20M	$19.80M
Other Receivables	$600.0K	$0.00	$8.900M	$2.200M	$6.300M	$1.800M	$0.00	$0.00	$0.00	$0.00	$4.000M	$14.20M	$7.500M	$10.50M	$5.600M	$9.200M	$9.000M	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$815.7M	$810.8M	$887.6M	$730.0M	$603.2M	$601.6M	$529.8M	$472.0M	$409.9M	$390.8M	$446.9M	$474.6M	$612.0M	$507.3M	$444.1M	$413.7M	$367.6M	$237.5M	$206.2M	$135.8M	$104.8M	$93.40M
YoY Change	0.6%	-8.65%	21.59%	21.02%	0.27%	13.55%	12.25%	15.15%	4.89%	-12.55%	-5.84%	-22.45%	20.64%	14.23%	7.35%	12.54%	54.78%	15.18%	51.84%	29.58%	12.21%
Property, Plant & Equipment	$371.6M	$391.0M	$321.0M	$302.8M	$299.5M	$143.5M	$147.4M	$152.1M	$134.5M	$117.6M	$105.0M	$84.00M	$68.20M	$62.10M	$59.80M	$58.80M	$19.10M	$15.90M	$17.40M	$17.50M	$17.60M	$15.30M
YoY Change	-4.96%	21.81%	6.01%	1.1%	108.71%	-2.65%	-3.09%	13.09%	14.37%	12.0%	25.0%	23.17%	9.82%	3.85%	1.7%	207.85%	20.13%	-8.62%	-0.57%	-0.57%	15.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$100.2M	$96.00M	$63.30M	$32.60M	$59.60M	$63.10M	$62.00M	$40.30M	$35.60M	$28.80M	$38.70M	$35.30M	$27.60M	$24.30M	$24.10M	$20.40M	$19.90M	$18.70M	$16.40M	$14.70M	$13.90M	$15.70M
YoY Change	4.38%	51.66%	94.17%	-45.3%	-5.55%	1.77%	53.85%	13.2%	23.61%	-25.58%	9.63%	27.9%	13.58%	0.83%	18.14%	2.51%	6.42%	14.02%	11.56%	5.76%	-11.46%
Other Assets	$52.70M	$21.30M	$24.50M	$27.00M	$22.60M	$4.700M	$6.200M	$8.800M	$10.60M	$7.100M	$9.700M	$10.40M	$5.900M	$6.000M	$6.100M	$3.900M	$18.90M	$16.30M	$31.60M	$29.40M	$28.10M	$24.80M
YoY Change	147.42%	-13.06%	-9.26%	19.47%	380.85%	-24.19%	-29.55%	-16.98%	49.3%	-26.8%	-6.73%	76.27%	-1.67%	-1.64%	56.41%	-79.37%	15.95%	-48.42%	7.48%	4.63%	13.31%
Total Long-Term Assets	$2.588B	$2.664B	$1.975B	$1.966B	$1.768B	$852.2M	$875.9M	$878.9M	$619.1M	$619.5M	$583.8M	$567.4M	$560.1M	$579.0M	$475.0M	$390.2M	$281.7M	$210.3M	$90.10M	$77.60M	$75.50M	$61.70M
YoY Change	-2.86%	34.88%	0.46%	11.22%	107.43%	-2.71%	-0.34%	41.96%	-0.06%	6.12%	2.89%	1.3%	-3.26%	21.89%	21.73%	38.52%	33.95%	133.41%	16.11%	2.78%	22.37%
Total Assets	$3.403B	$3.475B	$2.863B	$2.696B	$2.371B	$1.454B	$1.406B	$1.351B	$1.029B	$1.010B	$1.031B	$1.042B	$1.172B	$1.086B	$919.1M	$803.9M	$649.3M	$447.8M	$296.3M	$213.4M	$180.3M	$155.1M
YoY Change
Accounts Payable	$78.40M	$76.20M	$76.50M	$64.50M	$58.90M	$54.40M	$49.20M	$44.60M	$39.20M	$34.30M	$42.10M	$43.80M	$41.40M	$42.70M	$30.50M	$30.10M	$22.30M	$21.00M	$13.70M	$12.10M	$19.40M	$15.30M
YoY Change	2.89%	-0.39%	18.6%	9.51%	8.27%	10.57%	10.31%	13.78%	14.29%	-18.53%	-3.88%	5.8%	-3.04%	40.0%	1.33%	34.98%	6.19%	53.28%	13.22%	-37.63%	26.8%
Accrued Expenses	$250.8M	$257.4M	$310.1M	$209.1M	$173.3M	$109.5M	$92.00M	$71.70M	$80.90M	$80.50M	$71.40M	$67.30M	$73.10M	$62.40M	$48.90M	$73.00M	$64.70M	$40.90M	$26.50M	$36.10M	$24.90M	$16.90M
YoY Change	-2.56%	-16.99%	48.3%	20.66%	58.26%	19.02%	28.31%	-11.37%	0.5%	12.75%	6.09%	-7.93%	17.15%	27.61%	-33.01%	12.83%	58.19%	54.34%	-26.59%	44.98%	47.34%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$35.00M	$30.00M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change								-100.0%	16.67%
Long-Term Debt Due	$32.10M	$32.10M		$0.00	$11.00M														$0.00	$0.00	$6.600M	$200.0K
YoY Change	0.0%			-100.0%																-100.0%	3200.0%
Total Short-Term Liabilities	$880.8M	$882.5M	$783.5M	$626.5M	$495.8M	$362.8M	$323.2M	$294.9M	$304.4M	$293.8M	$269.5M	$257.4M	$270.6M	$252.7M	$207.5M	$233.4M	$217.8M	$167.5M	$115.8M	$118.9M	$110.0M	$83.40M
YoY Change	-0.19%	12.64%	25.06%	26.36%	36.66%	12.25%	9.6%	-3.12%	3.61%	9.02%	4.7%	-4.88%	7.08%	21.78%	-11.1%	7.16%	30.03%	44.65%	-2.61%	8.09%	31.89%
Long-Term Debt	$940.3M	$1.078B	$359.4M	$449.1M	$502.1M	$70.00M	$180.0M	$250.0M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.600M
YoY Change	-12.73%	199.81%	-19.97%	-10.56%	617.29%	-61.11%	-28.0%														-100.0%
Other Long-Term Liabilities	$218.9M	$244.8M	$202.2M	$240.1M	$194.4M	$64.10M	$74.00M	$71.00M	$64.20M	$45.10M	$46.10M	$36.10M	$28.50M	$32.20M	$31.20M	$27.00M	$23.20M	$11.00M	$6.800M	$30.10M	$25.50M	$14.70M
YoY Change	-10.58%	21.07%	-15.79%	23.51%	203.28%	-13.38%	4.23%	10.59%	42.35%	-2.17%	27.7%	26.67%	-11.49%	3.21%	15.56%	16.38%	110.91%	61.76%	-77.41%	18.04%	73.47%
Total Long-Term Liabilities	$1.159B	$1.322B	$561.6M	$689.2M	$696.5M	$134.1M	$254.0M	$321.0M	$64.20M	$45.10M	$46.10M	$36.10M	$28.50M	$32.20M	$31.20M	$27.00M	$23.20M	$11.00M	$6.800M	$30.10M	$25.50M	$21.30M
YoY Change	-12.33%	135.45%	-18.51%	-1.05%	419.39%	-47.2%	-20.87%	400.0%	42.35%	-2.17%	27.7%	26.67%	-11.49%	3.21%	15.56%	16.38%	110.91%	61.76%	-77.41%	18.04%	19.72%
Total Liabilities	$2.076B	$2.268B	$1.447B	$1.425B	$1.287B	$519.1M	$600.8M	$654.4M	$388.7M	$356.8M	$340.4M	$316.4M	$316.7M	$306.0M	$254.5M	$268.4M	$241.0M	$178.4M	$122.6M	$149.0M	$135.4M	$104.6M
YoY Change	-8.47%	56.74%	1.56%	10.67%	147.99%	-13.6%	-8.19%	68.36%	8.94%	4.82%	7.59%	-0.09%	3.5%	20.24%	-5.18%	11.37%	35.09%	45.51%	-17.72%	10.04%	29.45%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Basic Shares Outstanding	42.60M shares	42.60M shares	43.00M shares	42.90M shares	42.70M shares	42.60M shares	42.70M shares	43.00M shares	44.20M shares	44.70M shares	46.20M shares	48.50M shares	50.03M shares	49.25M shares	48.11M shares
Diluted Shares Outstanding	42.90M shares	42.90M shares	43.40M shares	43.20M shares	43.20M shares	43.00M shares	43.00M shares	43.30M shares	44.30M shares	44.90M shares	46.50M shares	49.15M shares	50.99M shares	50.56M shares	49.79M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $15.033 Billion

About Morningstar Inc

Morningstar, Inc. engages in the provision of investment research. The company is headquartered in Chicago, Illinois and currently employs 11,334 full-time employees. The company went IPO on 2005-05-03. The company operates through five segments: Morningstar Data and Analytics, PitchBook, Morningstar Wealth, Morningstar Credit, and Morningstar Retirement. Morningstar Data and Analytics segment provides investors comprehensive data, research and insights, and investment analysis to empower investment decision-making. PitchBook segment provides investors with access to a collection of data and research covering the private capital markets, including venture capital, private equity, private credit and bank loans, and merger and acquisition activities. Morningstar Wealth segment brings together its model portfolios and wealth platform and practice and portfolio management software for registered investment advisers (RIAs). Morningstar Credit segment provides investors with credit ratings, research, data, and credit analytics solutions. Morningstar Retirement segment include managed retirement accounts and fiduciary services.

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