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Revenue breakdown by Products & Services
Revenue breakdown by Geography

Morningstar's Revenue by Region

In fiscal year 2025, Morningstar's revenue by geographical region are as follows:

  • Asia: $48.00 M
  • AUSTRALIA: $65.30 M
  • CANADA: $154.90 M
  • Europe excluding the United Kingdom: $219.60 M
  • Non United States: $690.60 M
  • Segment, Geographical, Group of Other Countries: $13.00 M
  • UNITED STATES: $1.75 B

Learn more about Morningstar’s Revenue by Products

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The above chart shows Morningstar's revenue percentage share by geographical region.

In fiscal year 2023, Morningstar's revenue by region is as follows:

  • Non United States generated $568.00 M in revenue, representing 27.86% of its total revenue.
  • UNITED STATES generated $1.47 B in revenue, representing 72.14% of its total revenue.

The biggest region for Morningstar is the UNITED STATES, which represents 72.14% of its total revenue.
The smallest region for Morningstar is the Non United States, which represents 27.86% of its total revenue.

The above chart shows Morningstar's revenue percentage share by geographical region.

In fiscal year 2024, Morningstar's revenue by region is as follows:

  • Non United States generated $636.30 M in revenue, representing 27.97% of its total revenue.
  • UNITED STATES generated $1.64 B in revenue, representing 72.03% of its total revenue.

The biggest region for Morningstar is the UNITED STATES, which represents 72.03% of its total revenue.
The smallest region for Morningstar is the Non United States, which represents 27.97% of its total revenue.

The above chart shows Morningstar's revenue percentage share by geographical region.

In fiscal year 2025, Morningstar's revenue by region is as follows:

  • Asia generated $48.00 M in revenue, representing 1.63% of its total revenue.
  • AUSTRALIA generated $65.30 M in revenue, representing 2.22% of its total revenue.
  • CANADA generated $154.90 M in revenue, representing 5.26% of its total revenue.
  • Europe excluding the United Kingdom generated $219.60 M in revenue, representing 7.45% of its total revenue.
  • Non United States generated $690.60 M in revenue, representing 23.44% of its total revenue.
  • Segment, Geographical, Group of Other Countries generated $13.00 M in revenue, representing 0.44% of its total revenue.
  • UNITED STATES generated $1.75 B in revenue, representing 59.56% of its total revenue.

The biggest region for Morningstar is the UNITED STATES, which represents 59.56% of its total revenue.
The smallest region for Morningstar is the Segment, Geographical, Group of Other Countries, which represents 0.44% of its total revenue.
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Summary Table

Geography (Percent Share) 2023 2024 2025
Asia 0% 0% 1.63%
AUSTRALIA 0% 0% 2.22%
CANADA 0% 0% 5.26%
Europe excluding the United Kingdom 0% 0% 7.45%
Non United States 27.86% 27.97% 23.44%
Segment, Geographical, Group of Other Countries 0% 0% 0.44%
UNITED STATES 72.14% 72.03% 59.56%
Total Revenue 100% 100% 100%

The above chart shows the revenue trend of different segments of Morningstar.

In fiscal year 2025, the UNITED STATES generated the most revenue ($1.75 B), and the Segment, Geographical, Group of Other Countries generated the least revenue ($13.00 M).

The above chart shows growth drivers and a year-over-year comparison of different segments' revenue.

  • Asia revenue increased 100% ($48.00 M) from $0.00 (in 2024) to $48.00 M (in 2025).
  • AUSTRALIA revenue increased 100% ($65.30 M) from $0.00 (in 2024) to $65.30 M (in 2025).
  • CANADA revenue increased 100% ($154.90 M) from $0.00 (in 2024) to $154.90 M (in 2025).
  • Europe excluding the United Kingdom revenue increased 100% ($219.60 M) from $0.00 (in 2024) to $219.60 M (in 2025).
  • Non United States revenue increased 8.53% ($54.30 M) from $636.30 M (in 2024) to $690.60 M (in 2025).
  • Segment, Geographical, Group of Other Countries revenue increased 100% ($13.00 M) from $0.00 (in 2024) to $13.00 M (in 2025).
  • UNITED STATES revenue increased 7.08% ($116.10 M) from $1.64 B (in 2024) to $1.75 B (in 2025).
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    Summary Table

    Region 2023
    Value Change
    		2024
    Value Change
    		2025
    Value Change
    Asia - - - - $48.00 M -
    AUSTRALIA - - - - $65.30 M -
    CANADA - - - - $154.90 M -
    Europe excluding the United Kingdom - - - - $219.60 M -
    Non United States $568.00 M - $636.30 M
    12.02%
    		$690.60 M
    8.53%
    Segment, Geographical, Group of Other Countries - - - - $13.00 M -
    UNITED STATES $1.47 B - $1.64 B
    11.44%
    		$1.75 B
    7.08%
    Total Revenue $2.04 B - $2.28 B
    11.60%
    		$2.95 B
    29.50%

    Frequently Asked Questions

    What was Morningstar's largest region last year?

    In fiscal year 2025, UNITED STATES revenue reached $1.75 Billion, representing 59.56% of Morningstar's total revenue and making it the largest region for the company.

    Which region experienced the highest growth for Morningstar last year?

    The Non United States is Morningstar's highest growth region, with a revenue growth of +8.53% in 2025 compared to 2024.

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