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Morningstar Inc
NASDAQ:MORN

Watchlist Manager
Morningstar Inc Logo
Morningstar Inc
NASDAQ:MORN
Watchlist
Price: 181.77 USD -0.75% Market Closed
Market Cap: $7.5B
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Financials Section:
Income Statement Balance Sheet Cash Flow Statement
|
Revenue Breakdown

Cash Flow Statement

Operating Cash Flow
+
3Y
+98%
5Y
+53%
10Y
+147%
Investing Cash Flow
+
3Y
+83%
5Y
-13%
10Y
-75%
Financing Cash Flow
+
3Y
-
5Y
-182%
10Y
-312%

Cash Flow Statement
Morningstar Inc

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Cash Flow Statement
Currency: USD
Mar-2005 Jun-2005 Sep-2005 Dec-2005 Mar-2006 Jun-2006 Sep-2006 Dec-2006 Mar-2007 Jun-2007 Sep-2007 Dec-2007 Mar-2008 Jun-2008 Sep-2008 Dec-2008 Mar-2009 Jun-2009 Sep-2009 Dec-2009 Mar-2010 Jun-2010 Sep-2010 Dec-2010 Mar-2011 Jun-2011 Sep-2011 Dec-2011 Mar-2012 Jun-2012 Sep-2012 Dec-2012 Mar-2013 Jun-2013 Sep-2013 Dec-2013 Mar-2014 Jun-2014 Sep-2014 Dec-2014 Mar-2015 Jun-2015 Sep-2015 Dec-2015 Mar-2016 Jun-2016 Sep-2016 Dec-2016 Mar-2017 Jun-2017 Sep-2017 Dec-2017 Mar-2018 Jun-2018 Sep-2018 Dec-2018 Mar-2019 Jun-2019 Sep-2019 Dec-2019 Mar-2020 Jun-2020 Sep-2020 Dec-2020 Mar-2021 Jun-2021 Sep-2021 Dec-2021 Mar-2022 Jun-2022 Sep-2022 Dec-2022 Mar-2023 Jun-2023 Sep-2023 Dec-2023 Mar-2024 Jun-2024 Sep-2024 Dec-2024 Mar-2025 Jun-2025 Sep-2025 Dec-2025
Operating Cash Flow
Net Income
8
18
20
31
41
42
48
52
54
61
68
74
81
91
94
90
92
84
84
82
77
75
77
87
89
97
94
98
96
97
103
108
118
121
125
123
120
79
78
78
82
124
127
133
132
131
128
161
150
165
168
137
161
157
180
183
174
175
167
152
143
149
176
224
255
239
212
193
185
182
124
71
17
23
71
141
213
246
327
370
384
404
376
374
Depreciation & Amortization
9
11
9
8
8
10
12
15
17
19
20
21
23
24
24
26
28
30
31
32
33
34
37
40
41
42
43
43
43
43
43
43
44
45
45
46
47
49
52
55
58
61
62
64
66
67
69
71
76
80
84
91
93
95
98
97
97
100
110
118
128
136
137
140
142
146
148
151
152
154
160
167
174
181
183
185
187
189
189
190
191
190
191
190
Change in Deffered Taxes
(3)
(3)
(3)
1
1
1
(1)
(4)
(4)
(5)
(1)
(1)
3
4
(0)
12
8
8
10
(2)
(2)
(2)
0
0
1
2
(3)
(4)
(5)
(5)
(2)
6
5
6
4
(1)
(1)
(4)
(4)
3
4
7
6
3
2
1
3
5
5
5
9
(14)
(6)
(8)
(9)
(1)
(7)
(9)
(10)
(6)
(5)
(4)
(5)
(7)
(10)
(12)
(13)
(12)
(16)
(24)
(31)
(37)
(29)
(27)
(20)
(32)
(42)
(40)
(43)
(35)
(34)
(35)
(44)
(42)
Stock-Based Compensation
0
0
0
11
0
0
0
9
5
8
10
11
11
11
11
11
11
11
11
12
12
12
13
14
15
15
15
15
16
15
15
19
19
19
18
15
15
16
17
18
18
18
18
17
17
16
15
15
16
18
20
24
25
30
32
32
35
38
41
44
42
40
39
37
37
39
40
42
48
58
69
83
82
74
67
53
52
51
50
55
52
57
62
56
Other Non-Cash Items
17
19
15
12
6
3
(2)
(7)
(6)
(7)
(10)
(22)
(25)
(33)
(30)
(16)
(10)
(2)
1
3
1
6
2
1
(1)
(2)
6
6
8
9
7
8
8
5
4
3
4
2
4
7
9
17
13
12
12
9
8
(28)
(24)
(35)
(29)
13
5
24
17
18
34
34
27
29
33
30
23
(11)
(19)
5
28
54
56
56
93
110
61
43
13
(5)
36
53
11
(27)
(17)
(29)
15
39
Cash Taxes Paid
10
17
19
20
18
11
8
10
10
24
28
28
28
27
27
20
18
19
25
38
46
50
42
38
36
32
36
38
37
38
43
47
42
41
42
40
49
46
35
30
24
25
36
50
66
66
66
58
44
56
52
47
48
56
65
67
66
52
58
63
67
51
57
58
64
92
79
81
75
81
78
75
77
64
65
73
77
84
93
116
117
165
184
172
Cash Interest Paid
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1
1
1
1
2
3
4
5
5
5
4
4
4
3
8
11
14
16
12
11
11
11
12
10
10
12
20
28
38
50
53
58
58
55
53
47
42
39
35
37
Change in Working Capital
(4)
(3)
2
(3)
5
20
30
43
36
35
25
40
24
31
51
37
22
11
(8)
(14)
15
3
(2)
(4)
(6)
1
10
22
15
14
0
(19)
(8)
0
8
16
1
42
(1)
(11)
3
(29)
35
26
4
1
(12)
5
42
19
4
23
11
11
9
19
16
32
65
42
25
53
21
39
33
21
54
64
34
(17)
(16)
(12)
75
34
36
28
(8)
66
93
93
65
5
1
29
Cash from Operating Activities
28
N/A
41
+50%
44
+6%
48
+11%
61
+25%
76
+26%
88
+15%
99
+13%
97
-2%
104
+7%
103
-1%
112
+10%
105
-6%
117
+11%
138
+18%
149
+8%
140
-6%
132
-6%
118
-10%
101
-14%
124
+23%
115
-7%
114
-1%
123
+8%
123
0%
140
+13%
149
+7%
165
+10%
156
-5%
159
+1%
151
-5%
146
-3%
167
+14%
176
+6%
186
+5%
187
+0%
172
-8%
168
-2%
130
-23%
132
+2%
155
+17%
179
+15%
243
+36%
239
-2%
215
-10%
209
-3%
196
-6%
214
+9%
249
+16%
233
-6%
235
+1%
250
+6%
264
+5%
278
+5%
295
+6%
315
+7%
314
0%
331
+6%
357
+8%
334
-6%
324
-3%
365
+12%
352
-3%
384
+9%
400
+4%
399
0%
429
+7%
450
+5%
409
-9%
351
-14%
330
-6%
298
-10%
298
0%
254
-15%
282
+11%
316
+12%
387
+22%
515
+33%
576
+12%
592
+3%
589
0%
535
-9%
539
+1%
590
+9%
Investing Cash Flow
Capital Expenditures
(7)
(9)
(6)
(8)
(7)
(7)
(7)
(5)
(6)
(9)
(11)
(11)
(16)
(23)
(31)
(49)
(46)
(38)
(30)
(12)
(10)
(9)
(10)
(15)
(18)
(19)
(22)
(23)
(27)
(33)
(32)
(30)
(30)
(31)
(35)
(34)
(45)
(46)
(48)
(58)
(52)
(55)
(55)
(57)
(56)
(59)
(65)
(63)
(64)
(67)
(62)
(67)
(70)
(69)
(75)
(76)
(77)
(78)
(78)
(80)
(76)
(75)
(78)
(77)
(84)
(86)
(94)
(102)
(107)
(120)
(124)
(130)
(131)
(130)
(125)
(119)
(124)
(125)
(132)
(143)
(141)
(146)
(145)
(147)
Other Items
(13)
(6)
(12)
(10)
(65)
(76)
(112)
(124)
(110)
(113)
(114)
(92)
(77)
(54)
(24)
(131)
(105)
(145)
(164)
(162)
(121)
(154)
(135)
(73)
(114)
(98)
(110)
(87)
(95)
(20)
59
110
182
93
21
19
33
39
65
27
(45)
5
(15)
(22)
(37)
(58)
(44)
(211)
(200)
(158)
(180)
6
19
(3)
25
26
15
16
(649)
(666)
(670)
(690)
(77)
(47)
(53)
(50)
(31)
(66)
(61)
(703)
(680)
(670)
(635)
28
38
37
16
12
54
121
76
89
42
8
Cash from Investing Activities
(21)
N/A
(15)
+29%
(17)
-18%
(17)
+3%
(72)
-326%
(83)
-15%
(118)
-43%
(129)
-9%
(116)
+10%
(122)
-5%
(125)
-3%
(103)
+18%
(93)
+10%
(77)
+17%
(56)
+28%
(179)
-222%
(151)
+16%
(183)
-21%
(194)
-6%
(175)
+10%
(130)
+26%
(163)
-26%
(145)
+11%
(88)
+39%
(133)
-51%
(118)
+11%
(131)
-12%
(111)
+16%
(123)
-11%
(52)
+57%
27
N/A
80
+195%
151
+89%
62
-59%
(14)
N/A
(15)
-10%
(13)
+15%
(6)
+49%
16
N/A
(31)
N/A
(97)
-210%
(50)
+48%
(70)
-39%
(80)
-14%
(94)
-18%
(117)
-25%
(109)
+7%
(274)
-152%
(264)
+4%
(225)
+15%
(241)
-7%
(61)
+75%
(51)
+17%
(72)
-43%
(50)
+30%
(50)
+1%
(62)
-24%
(62)
+0%
(727)
-1 075%
(746)
-3%
(746)
N/A
(766)
-3%
(155)
+80%
(124)
+20%
(138)
-11%
(136)
+1%
(125)
+8%
(168)
-35%
(168)
0%
(824)
-390%
(803)
+2%
(799)
+0%
(766)
+4%
(102)
+87%
(87)
+14%
(82)
+6%
(108)
-32%
(114)
-5%
(78)
+31%
(21)
+73%
(65)
-207%
(56)
+14%
(104)
-84%
(139)
-35%
Financing Cash Flow
Net Issuance of Common Stock
0
20
22
25
30
17
16
20
17
15
19
22
26
29
28
23
21
23
21
16
17
8
7
5
7
6
(22)
(32)
(56)
(138)
(187)
(247)
(241)
(197)
(130)
(149)
(156)
(133)
(128)
(70)
(50)
(60)
(58)
(93)
(131)
(107)
(105)
(48)
(11)
(38)
(51)
(42)
(50)
(25)
(12)
(21)
(17)
(15)
(15)
(5)
(20)
(19)
(36)
(40)
(20)
(20)
(4)
(1)
(112)
(204)
(219)
(226)
(115)
(25)
(10)
(1)
0
0
0
(12)
(121)
(233)
(403)
(787)
Net Issuance of Debt
(0)
(0)
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
30
30
45
35
(30)
5
30
40
60
215
160
155
145
(70)
(85)
(105)
(115)
(110)
(120)
(110)
457
444
502
474
(61)
(63)
(126)
(113)
(110)
(90)
100
804
784
751
628
(25)
(103)
(138)
(183)
(254)
(191)
(274)
(146)
(61)
(16)
375
Cash Paid for Dividends
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
(3)
(5)
(8)
(10)
(13)
(15)
(17)
(26)
(21)
(21)
(22)
(17)
(25)
(27)
(29)
(31)
(31)
(32)
(33)
(34)
(35)
(36)
(37)
(38)
(38)
(39)
(39)
(39)
(40)
(41)
(42)
(43)
(44)
(45)
(47)
(48)
(49)
(50)
(51)
(51)
(52)
(53)
(53)
(54)
(56)
(58)
(60)
(62)
(62)
(63)
(63)
(64)
(65)
(67)
(68)
(69)
(72)
(74)
(75)
(77)
Other
0
0
0
0
3
7
9
14
13
14
18
30
34
41
39
27
22
14
11
9
12
9
8
7
8
9
10
9
9
4
3
7
6
5
5
0
(1)
(2)
(1)
(1)
(1)
(3)
(2)
(3)
(4)
(3)
(5)
(5)
(5)
(4)
(4)
(6)
(11)
(12)
(15)
(15)
(15)
(16)
(16)
(18)
(26)
(28)
(26)
(27)
(24)
(61)
(66)
(67)
(66)
(50)
(50)
(48)
(96)
(77)
(76)
(76)
(24)
(28)
(30)
(29)
(26)
(24)
(25)
(26)
Cash from Financing Activities
0
N/A
20
+9 700%
22
+13%
25
+14%
33
+28%
23
-29%
25
+9%
34
+35%
30
-11%
29
-4%
37
+26%
53
+42%
61
+15%
70
+15%
67
-4%
51
-24%
42
-17%
37
-13%
31
-15%
25
-19%
29
+15%
17
-40%
15
-13%
13
-17%
12
-5%
10
-17%
(19)
N/A
(33)
-69%
(60)
-83%
(148)
-148%
(201)
-36%
(265)
-32%
(256)
+3%
(214)
+17%
(147)
+31%
(166)
-13%
(182)
-9%
(161)
+12%
(127)
+21%
(72)
+44%
(37)
+48%
(60)
-61%
(123)
-105%
(125)
-2%
(140)
-12%
(106)
+25%
(87)
+18%
124
N/A
106
-15%
74
-30%
51
-31%
(158)
N/A
(186)
-18%
(183)
+2%
(183)
0%
(189)
-3%
(195)
-3%
(186)
+5%
380
N/A
374
-2%
408
+9%
377
-7%
(174)
N/A
(182)
-5%
(221)
-21%
(247)
-12%
(233)
+6%
(212)
+9%
(134)
+37%
492
N/A
456
-7%
415
-9%
355
-15%
(189)
N/A
(252)
-33%
(278)
-11%
(273)
+2%
(349)
-28%
(289)
+17%
(384)
-33%
(365)
+5%
(392)
-7%
(520)
-33%
(515)
+1%
Change in Cash
Effect of Foreign Exchange Rates
0
0
0
(0)
(0)
0
(0)
0
0
1
1
1
3
2
(2)
(7)
(10)
(5)
0
5
6
(2)
2
2
5
9
(1)
(1)
(2)
(6)
1
2
(3)
(2)
(1)
(1)
3
6
(6)
(12)
(21)
(19)
(16)
(13)
(1)
(9)
(4)
(11)
(10)
1
6
17
18
(1)
(9)
(15)
(18)
(7)
(11)
3
(12)
(6)
6
10
20
17
5
(9)
(7)
(27)
(37)
(21)
(17)
0
9
5
(4)
(5)
19
(21)
(1)
25
6
36
Net Change in Cash
7
N/A
47
+528%
49
+5%
57
+16%
21
-63%
17
-20%
(6)
N/A
4
N/A
12
+213%
12
-2%
16
+32%
64
+310%
76
+19%
112
+48%
147
+31%
14
-90%
21
+45%
(20)
N/A
(44)
-124%
(43)
+2%
29
N/A
(33)
N/A
(14)
+59%
50
N/A
8
-84%
41
+416%
(2)
N/A
20
N/A
(28)
N/A
(48)
-69%
(22)
+54%
(37)
-66%
59
N/A
22
-63%
25
+12%
4
-83%
(20)
N/A
6
N/A
12
+92%
17
+38%
(0)
N/A
49
N/A
34
-30%
22
-36%
(19)
N/A
(23)
-20%
(4)
+81%
52
N/A
81
+55%
83
+3%
51
-39%
49
-4%
45
-8%
22
-52%
53
+145%
61
+16%
38
-38%
77
+101%
(1)
N/A
(35)
-2 833%
(27)
+24%
(30)
-13%
29
N/A
88
+202%
61
-31%
34
-45%
76
+124%
61
-19%
100
+63%
(7)
N/A
(54)
-634%
(107)
-97%
(131)
-22%
(37)
+72%
(48)
-29%
(39)
+19%
2
N/A
48
+3 093%
228
+376%
165
-28%
158
-4%
112
-29%
(79)
N/A
(28)
+64%
Free Cash Flow
Free Cash Flow
20
N/A
33
+62%
38
+16%
41
+7%
53
+30%
69
+30%
81
+17%
94
+16%
91
-3%
95
+4%
91
-4%
101
+11%
89
-12%
94
+5%
107
+13%
101
-6%
93
-8%
94
+0%
89
-5%
89
+0%
115
+29%
106
-8%
105
-1%
109
+4%
105
-3%
120
+14%
128
+6%
142
+11%
129
-9%
126
-2%
120
-5%
116
-3%
137
+18%
145
+6%
151
+4%
153
+2%
127
-17%
123
-3%
81
-34%
74
-9%
103
+40%
123
+19%
188
+52%
182
-3%
159
-13%
150
-6%
131
-13%
151
+15%
185
+23%
166
-10%
174
+4%
184
+6%
194
+6%
209
+8%
220
+5%
239
+9%
237
-1%
254
+7%
279
+10%
254
-9%
248
-3%
289
+17%
275
-5%
308
+12%
316
+3%
313
-1%
335
+7%
348
+4%
302
-13%
231
-24%
207
-10%
168
-19%
167
-1%
124
-26%
157
+27%
197
+26%
263
+33%
390
+48%
444
+14%
449
+1%
448
0%
390
-13%
394
+1%
443
+12%

See Also

Summary
MORN intrinsic value, competitors valuation, and company profile.
DCF Valuation
MORN stock valuation using Discount Cash Flow valuation method.
Relative Valuation
MORN stock valuation using valuation multiples.
Wall Street Estimates
MORN price targets and financial estimates made by Wall st analysts.
Profitability Analysis
Detailed analysis of the company's profitability.
Solvency Analysis
Analysis of the financial position and solvency of the company.
Financials
Income Statement, Balance Sheet, Cash Flow Statement.
Discount Rate
MORN stock discount rate: cost of equity and WACC.
Summary
DCF Valuation
Relative Valuation
Wall Street Estimates
Profitability Analysis
Solvency Analysis
Financials
Discount Rate
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