246.15
+0.82%
Close of 9 Nov 2026, in USD
Search any instrument
Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
About Morningstar
From its filings with the US Securities and Exchange Commission
Morningstar is based in Chicago, Illinois and is incorporated in Illinois. Its shares trade on Nasdaq under the ticker MORN. The SEC classifies its business as investment advice. In the fiscal year to 31 December 2025, it reported revenue of $2.45bn and net income of $374.2m. At that date it held total assets of $3.59bn and shareholders' equity of $1.22bn. By business, License-based brought in 70.3% of revenue, followed by Transaction-based at 15.7% and Asset-based at 14.0%.
Our mission is to empower investor success. We deliver connected data, independent research, investor-first tools, and long-term portfolio strategies with a focus on removing frictions that can slow decisions, cloud markets, and drive up costs.
Morningstar, Inc. is a leading global provider of independent investment insights. Our core competencies are data, research, design, and technology, and we employ each of these to create products built on the depth and breadth of our data that are designed to clearly convey complex investment information. We offer a variety of products and solutions that serve a wide range of market participants.
Through our Morningstar Direct Platform and PitchBook segments and Morningstar Sustainalytics products, our customers can access a wide selection of investment data, research, ratings, and tools on our proprietary desktop or web-based software platforms; through direct data feeds and application programming interfaces (APIs); and via artificial intelligence (AI) integrations, which offer AI-ready access to data, research, and capabilities through Model Context Protocol (MCP) and intelligent agents. We also offer access via third parties in our alliances and redistributors customer segment.
Quoted from its 10-K, filed 13 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Capital Markets
- Listed since
- 3 May 2005
- Employees
- 10,973
- Website
- morningstar.com ↗
- Head office
- 22 WEST WASHINGTON STREET, CHICAGO, IL, 60602
- Incorporated in
- IL
- Classification
- Investment Advice
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Joe MansuetoExecutive Chairman of the Board, since 1984$105,250
- Mr. Kunal KapoorChief Executive Officer, Director, since 2009$8.6m
- Mr. Michael HoltChief Financial Officer
- Mr. Conan WiersemaPrincipal Accounting Officer
- Mr. Danny DunnChief Revenue Officer$2.5m
- Ms. Robin DiamonteIndependent Director$249,949
- Ms. Cheryl FrancisIndependent Director$274,949
- Mr. Stephen JoyntIndependent Director$249,949
- Dr. Steven KaplanIndependent Director$264,949
- Ms. Gail LandisIndependent Director$254,949
- Mr. William LyonsIndependent Director$264,949
- Ms. Doniel SuttonIndependent Director$249,949
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 83
- Environment
- 83
- Social
- 94
- Governance
- 71
- Direct emissions (scope 1)
- 239 t
- Energy emissions (scope 2)
- 6,867 t
- Value chain emissions (scope 3)
- 5,663 t
- Women in the workforce
- 39.8%
- Carbon reduction policy
- Yes
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Morningstar Inc offers a vast array of investment products, including mutual funds, exchange-traded funds, and alternative investments. This wide range of choices attracts a diverse client base and increases revenue opportunities.
- Morningstar Inc has established itself as a reputable and trusted player in the financial industry. Its comprehensive research and analysis tools are highly regarded among investors and financial professionals, enhancing its competitive advantage.
- With operations in multiple countries, Morningstar Inc enjoys a strong international presence. This global reach helps the company access new markets, diversify its revenue streams, and mitigate risks associated with regional economic fluctuations.
Weaknesses
- Morningstar Inc's performance is heavily influenced by market conditions. During economic downturns, investors may reduce their spending on investment research and related services, leading to a decline in the company's revenue.
- The emergence of technology giants, like Google and Yahoo, in the financial information sector poses a threat to Morningstar Inc's market share. These companies have the resources to develop competitive financial tools and analytics platforms.
Opportunities
- The increasing interest in Environmental, Social, and Governance (ESG) investments presents an opportunity for Morningstar Inc to expand its product offering and capture market share. Developing ESG-focused research and rating tools can attract socially-conscious investors.
- As emerging markets continue to grow, Morningstar Inc can seize the opportunity to expand its presence in these regions. Providing tailored research and analysis for specific emerging market segments can drive revenue growth.
Threats
- Changes in regulations related to financial services or investment research can impact Morningstar Inc's operations. Compliance with new rules may require significant adjustments and increase costs, affecting profitability.
- As a provider of financial information and analysis tools, Morningstar Inc faces the constant risk of data breaches or cyberattacks. Protecting customer data and maintaining data privacy are crucial to maintaining trust and credibility.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.