Morningstar's Revenue by Segment
In fiscal year 2025, Morningstar's revenue by segment (products & services) are as follows:
- Asset-Based: $343.00 M
- Licensed-Based: $1.72 B
- Transaction-Based: $383.30 M
Learn more about Morningstar’s Revenue by Geography
Check out competitors to Morningstar in a side-by-side comparison.
Explore additional financial metrics for Morningstar.
Morningstar's Revenue Share by Segment
| Asset-Based | 279600000 |
|---|---|
| Licensed-Based | 1517500000 |
| Transaction-Based | 241500000 |
| Asset-Based | 333200000 |
|---|---|
| Licensed-Based | 1625100000 |
| Transaction-Based | 316800000 |
| Asset-Based | 343000000 |
|---|---|
| Licensed-Based | 1719200000 |
| Transaction-Based | 383300000 |
The above chart shows Morningstar's revenue percentage share by segment (products and services).
In fiscal year 2023, Morningstar's revenue by segment is as follows:
- Asset-Based generated $279.60 M in revenue, representing 13.72% of its total revenue.
- Licensed-Based generated $1.52 B in revenue, representing 74.44% of its total revenue.
- Transaction-Based generated $241.50 M in revenue, representing 11.85% of its total revenue.
The biggest segment for Morningstar is the Licensed-Based, which represents 74.44% of its total revenue.
The smallest segment for Morningstar is the Transaction-Based, which represents 11.85% of its total revenue.
The above chart shows Morningstar's revenue percentage share by segment (products and services).
In fiscal year 2024, Morningstar's revenue by segment is as follows:
- Asset-Based generated $333.20 M in revenue, representing 14.65% of its total revenue.
- Licensed-Based generated $1.63 B in revenue, representing 71.43% of its total revenue.
- Transaction-Based generated $316.80 M in revenue, representing 13.92% of its total revenue.
The biggest segment for Morningstar is the Licensed-Based, which represents 71.43% of its total revenue.
The smallest segment for Morningstar is the Transaction-Based, which represents 13.92% of its total revenue.
The above chart shows Morningstar's revenue percentage share by segment (products and services).
In fiscal year 2025, Morningstar's revenue by segment is as follows:
- Asset-Based generated $343.00 M in revenue, representing 14.03% of its total revenue.
- Licensed-Based generated $1.72 B in revenue, representing 70.3% of its total revenue.
- Transaction-Based generated $383.30 M in revenue, representing 15.67% of its total revenue.
The biggest segment for Morningstar is the Licensed-Based, which represents 70.3% of its total revenue.
The smallest segment for Morningstar is the Asset-Based, which represents 14.03% of its total revenue.
Summary Table
| Products & Services (Percent Share) | 2023 | 2024 | 2025 |
|---|---|---|---|
| Asset-Based | 13.72% | 14.65% | 14.03% |
| Licensed-Based | 74.44% | 71.43% | 70.3% |
| Transaction-Based | 11.85% | 13.92% | 15.67% |
| Total Revenue | 100% | 100% | 100% |
Morningstar's Segments Revenue Trend
The above chart shows the revenue trend of different segments of Morningstar.
In fiscal year 2025, the Licensed-Based generated the most revenue ($1.72 B), and the Asset-Based generated the least revenue ($343.00 M).
Morningstar's Revenue Growth Drivers
The above chart shows growth drivers and a year-over-year comparison of different segments' revenue.
Summary Table
| Products & Services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Asset-Based | $279.60 M - |
$333.20 M
19.17%
|
$343.00 M
2.94%
|
| Licensed-Based | $1.52 B - |
$1.63 B
7.09%
|
$1.72 B
5.79%
|
| Transaction-Based | $241.50 M - |
$316.80 M
31.18%
|
$383.30 M
20.99%
|
| Total Revenue | $2.04 B - |
$2.28 B
11.60%
|
$2.45 B
7.49%
|
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