Every 10-Q that Morningstar, Inc. (MORN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MORN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MORN filings page.
Morningstar, Inc. delivered stronger results in Q2 2026. Revenue rose to $663.2 million from $605.1 million, while operating income increased to $160.6 million from $125.1 million. Operating margin expanded to 24.2% from 20.7%, and consolidated net income reached $107.8 million versus $89.0 million. Diluted EPS was $2.83 compared with $2.09.
For the first six months of 2026, revenue was $1,308.0 million, up from $1,187.0 million, with operating income of $316.5 million and net income of $214.9 million. Free cash flow rose to $176.1 million. Growth was broad-based across license-based, asset-based, and transaction-based revenue, led by Morningstar Credit and steady gains at Morningstar Direct Platform and PitchBook. Morningstar acquired CRSP for $363.0 million, adding $233.0 million of intangibles and $139.9 million of goodwill, and increased total debt to $1,713.3 million to help finance the deal and share repurchases of $400.0 million in the first half under a $1.0 billion authorization.
Morningstar, Inc. reported strong Q1 2026 results, with revenue rising 10.8% to $644.8 million and operating income up 36.6% to $155.9 million, lifting operating margin to 24.2% from 19.6%. Growth was broad-based, led by Morningstar Credit’s 38.4% revenue increase and solid gains in Morningstar Direct Platform and Retirement.
Net income climbed to $107.1 million, and diluted EPS reached $2.73. Organic revenue grew 7.6%, while adjusted operating margin improved to 27.7%, reflecting operating leverage despite higher compensation and technology costs.
The company closed the $363.0 million acquisition of CRSP, adding significant intangible assets and goodwill, funded largely through its 2025 Credit Agreement. Total debt increased to $1.71 billion, with funded indebtedness to EBITDA at about 2.0x, while Morningstar returned $300.0 million via share repurchases and paid $19.9 million in dividends.
Morningstar, Inc. reported third-quarter results with higher revenue and operating profit. Revenue rose to $617.4 million from $569.4 million, while operating income increased to $127.8 million from $115.5 million. Net income was $91.6 million versus $119.7 million a year ago, reflecting the prior-year gain on a business sale; diluted EPS was $2.17 versus $2.77.
For the first nine months, revenue reached $1,804.4 million (from $1,684.1 million) and operating income was $367.0 million (from $316.6 million); net income was $259.1 million. Segment momentum included stronger transaction-based revenue in Morningstar Credit and continued growth in PitchBook and the Morningstar Direct Platform. Deferred revenue increased to $563.9 million current, supporting forward visibility.
Cash from operations was $385.7 million year-to-date. The company repurchased $391.7 million of shares in 2025, including $172.0 million in Q3. Total debt rose to $848.9 million, including a $150.0 million revolver draw. Morningstar announced a pending acquisition of CRSP for approximately $375.0 million in cash, subject to customary approvals. The quarterly dividend was $0.46 per share.