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Morningstar's Revenue (2016 - 2025)

  • Morningstar's annual revenue was $2.46 B in fiscal year 2025. The annual revenue increased $183.10 M from $2.28 B (in 2024) to $2.46 B (in 2025), representing a 8.05% year-over-year growth.

  • Morningstar's quarterly revenue was $644.80 M in the quarter ending Mar 2026. The quarterly revenue increased $62.90 M from $581.90 M (in Q1: Dec 2025) to $644.80 M (in Q1: Dec 2026), representing a 10.81% year-over-year growth.

    • Over the past 10 years (2016 - 2025):
  • The highest annual revenue for Morningstar was $2.46 B in fiscal year 2025.
  • The lowest annual revenue was $798.60 M in fiscal year 2016.
  • The average revenue was $1.56 B.

    • Learn more about Morningstar's Revenue by Segment and Revenue by Region.

    Check out competitors to Morningstar in a side-by-side comparison.

    Explore additional financial metrics for Morningstar.


    Definition of Revenue :
  • Revenue is the amount of money generated by a business from sales of its goods or services. Refer to our glossary for more details, examples, and formulas.
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Morningstar's Revenue Trend

2025

Morningstar's annual revenue was $2.46 B in fiscal year 2025.

Morningstar's quarterly revenue was $581.90 M(Q1: Mar 2025), $605.10 M(Q2: Jun 2025), $617.40 M(Q3: Sep 2025), $653.80 M(Q4: Dec 2025) in fiscal year 2025.

2024

Morningstar's annual revenue was $2.28 B in fiscal year 2024.

Morningstar's quarterly revenue was $542.80 M(Q1: Mar 2024), $571.90 M(Q2: Jun 2024), $569.40 M(Q3: Sep 2024), $591.00 M(Q4: Dec 2024) in fiscal year 2024.

2023

Morningstar's annual revenue was $2.04 B in fiscal year 2023.

Morningstar's quarterly revenue was $479.70 M(Q1: Mar 2023), $504.70 M(Q2: Jun 2023), $515.50 M(Q3: Sep 2023), $538.70 M(Q4: Dec 2023) in fiscal year 2023.

2022

Morningstar's annual revenue was $1.87 B in fiscal year 2022.

Morningstar's quarterly revenue was $457.00 M(Q1: Mar 2022), $470.40 M(Q2: Jun 2022), $468.20 M(Q3: Sep 2022), $475.00 M(Q4: Dec 2022) in fiscal year 2022.

2021

Morningstar's annual revenue was $1.70 B in fiscal year 2021.

Morningstar's quarterly revenue was $392.80 M(Q1: Mar 2021), $415.40 M(Q2: Jun 2021), $428.90 M(Q3: Sep 2021), $462.20 M(Q4: Dec 2021) in fiscal year 2021.

2020

Morningstar's annual revenue was $1.39 B in fiscal year 2020.

Morningstar's quarterly revenue was $324.00 M(Q1: Mar 2020), $327.90 M(Q2: Jun 2020), $357.20 M(Q3: Sep 2020), $380.40 M(Q4: Dec 2020) in fiscal year 2020.

2019

Morningstar's annual revenue was $1.18 B in fiscal year 2019.

Morningstar's quarterly revenue was $258.90 M(Q1: Mar 2019), $273.90 M(Q2: Jun 2019), $313.80 M(Q3: Sep 2019), $332.40 M(Q4: Dec 2019) in fiscal year 2019.

2018

Morningstar's annual revenue was $1.02 B in fiscal year 2018.

Morningstar's quarterly revenue was $243.50 M(Q1: Mar 2018), $252.40 M(Q2: Jun 2018), $261.30 M(Q3: Sep 2018), $262.70 M(Q4: Dec 2018) in fiscal year 2018.

2017

Morningstar's annual revenue was $911.70 M in fiscal year 2017.

Morningstar's quarterly revenue was $209.50 M(Q1: Mar 2017), $229.20 M(Q2: Jun 2017), $229.90 M(Q3: Sep 2017), $243.10 M(Q4: Dec 2017) in fiscal year 2017.

2016

Morningstar's annual revenue was $798.60 M in fiscal year 2016.

Morningstar's quarterly revenue was $192.10 M(Q1: Mar 2016), $198.20 M(Q2: Jun 2016), $196.10 M(Q3: Sep 2016), $212.20 M(Q4: Dec 2016) in fiscal year 2016.

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Morningstar's Revenue (Year-over-Year Change)

2015 0
2016 +1.24
2017 +14.16
2018 +11.87
2019 +15.60
2020 +17.85
2021 +22.30
2022 +10.08
2023 +8.98
2024 +11.60
2025 +8.05

2025

Morningstar’s annual revenue increased +8.05% during fiscal year 2025 compared to 2024. It represents a growth of $183.10 M from $2.28 B (in 2024) to $2.46 B (in 2025).

2024

Morningstar’s annual revenue increased +11.60% during fiscal year 2024 compared to 2023. It represents a growth of $236.50 M from $2.04 B (in 2023) to $2.28 B (in 2024).

2023

Morningstar’s annual revenue increased +8.98% during fiscal year 2023 compared to 2022. It represents a growth of $168.00 M from $1.87 B (in 2022) to $2.04 B (in 2023).

2022

Morningstar’s annual revenue increased +10.08% during fiscal year 2022 compared to 2021. It represents a growth of $171.30 M from $1.70 B (in 2021) to $1.87 B (in 2022).

2021

Morningstar’s annual revenue increased +22.30% during fiscal year 2021 compared to 2020. It represents a growth of $309.80 M from $1.39 B (in 2020) to $1.70 B (in 2021).

2020

Morningstar’s annual revenue increased +17.85% during fiscal year 2020 compared to 2019. It represents a growth of $210.50 M from $1.18 B (in 2019) to $1.39 B (in 2020).

2019

Morningstar’s annual revenue increased +15.60% during fiscal year 2019 compared to 2018. It represents a growth of $159.10 M from $1.02 B (in 2018) to $1.18 B (in 2019).

2018

Morningstar’s annual revenue increased +11.87% during fiscal year 2018 compared to 2017. It represents a growth of $108.20 M from $911.70 M (in 2017) to $1.02 B (in 2018).

2017

Morningstar’s annual revenue increased +14.16% during fiscal year 2017 compared to 2016. It represents a growth of $113.10 M from $798.60 M (in 2016) to $911.70 M (in 2017).

2016

Morningstar’s annual revenue increased +1.24% during fiscal year 2016 compared to 2015. It represents a growth of $9.80 M from $788.80 M (in 2015) to $798.60 M (in 2016).

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Morningstar Revenue History

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Period Revenue Year-over-Year Change
FY 2025
$2.46 B $183.10 M 8.05%
Q4: Dec 25 $653.80 M $62.80 M 10.63%
Q3: Sep 25 $617.40 M $48.00 M 8.43%
Q2: Jun 25 $605.10 M $33.20 M 5.81%
Q1: Mar 25 $581.90 M $39.10 M 7.2%
FY 2024
$2.28 B $236.50 M 11.6%
Q4: Dec 24 $591.00 M $52.30 M 9.71%
Q3: Sep 24 $569.40 M $53.90 M 10.46%
Q2: Jun 24 $571.90 M $67.20 M 13.31%
Q1: Mar 24 $542.80 M $63.10 M 13.15%
FY 2023
$2.04 B $168.00 M 8.98%
Q4: Dec 23 $538.70 M $63.70 M 13.41%
Q3: Sep 23 $515.50 M $47.30 M 10.1%
Q2: Jun 23 $504.70 M $34.30 M 7.29%
Q1: Mar 23 $479.70 M $22.70 M 4.97%
FY 2022
$1.87 B $171.30 M 10.08%
Q4: Dec 22 $475.00 M $12.80 M 2.77%
Q3: Sep 22 $468.20 M $39.30 M 9.16%
Q2: Jun 22 $470.40 M $55.00 M 13.24%
Q1: Mar 22 $457.00 M $64.20 M 16.34%
FY 2021
$1.70 B $309.80 M 22.3%
Q4: Dec 21 $462.20 M $81.80 M 21.5%
Q3: Sep 21 $428.90 M $71.70 M 20.07%
Q2: Jun 21 $415.40 M $87.50 M 26.68%
Q1: Mar 21 $392.80 M $68.80 M 21.23%
FY 2020
$1.39 B $210.50 M 17.85%
Q4: Dec 20 $380.40 M $48.00 M 14.44%
Q3: Sep 20 $357.20 M $43.40 M 13.83%
Q2: Jun 20 $327.90 M $54.00 M 19.72%
Q1: Mar 20 $324.00 M $65.10 M 25.14%
FY 2019
$1.18 B $159.10 M 15.6%
Q4: Dec 19 $332.40 M $69.70 M 26.53%
Q3: Sep 19 $313.80 M $52.50 M 20.09%
Q2: Jun 19 $273.90 M $21.50 M 8.52%
Q1: Mar 19 $258.90 M $15.40 M 6.32%
FY 2018
$1.02 B $108.20 M 11.87%
Q4: Dec 18 $262.70 M $19.60 M 8.06%
Q3: Sep 18 $261.30 M $31.40 M 13.66%
Q2: Jun 18 $252.40 M $23.20 M 10.12%
Q1: Mar 18 $243.50 M $34.00 M 16.23%
FY 2017
$911.70 M $113.10 M 14.16%
Q4: Dec 17 $243.10 M $30.90 M 14.56%
Q3: Sep 17 $229.90 M $33.80 M 17.24%
Q2: Jun 17 $229.20 M $31.00 M 15.64%
Q1: Mar 17 $209.50 M $17.40 M 9.06%
FY 2016
$798.60 M $9.80 M 1.24%
Q4: Dec 16 $212.20 M $10.60 M 5.26%
Q3: Sep 16 $196.10 M $800.00 K 0.41%
Q2: Jun 16 $198.20 M -$3.90 M 1.93%
Q1: Mar 16 $192.10 M $2.30 M 1.21%

Frequently Asked Questions

What is the annual revenue of Morningstar?

In fiscal year 2025, Morningstar's revenue was $2.46 Billion.

How much did Morningstar's revenue change in the last year?

Morningstar's revenue increased by +8.05% (+$183.10 Million) in 2025 compared to 2024.

What is Morningstar's most recent quarterly revenue?

In the first quarter (Q1) of 2026, Morningstar reported a revenue of $644.80 Million.

What is Morningstar's revenue per share (TTM)?

Morningstar's revenue per share over the trailing twelve months is $64.15.

What is Morningstar's revenue per employee?

In the fiscal year 2025, Morningstar's revenue per employee was $224.02 K.

What is the annual net income of Morningstar?

In fiscal year 2025, Morningstar's net income was $374.20 Million.

What is Morningstar's biggest product segment, and what is its revenue?

Licensed-Based is Morningstar's biggest product segment, generating $1.72 Billion in revenue for fiscal year 2025.

What is Morningstar's net income per employee?

In the fiscal year 2025, Morningstar's net income per employee was $34.10 K.

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