Morningstar, Inc.'s SEC filings document formal disclosures for a public investment-research, data, ratings, indexes, and advisory-services company. Recent 8-K reports cover operating results, supplemental presentations, shareholder letters, Regulation FD investor Q&A materials, quarterly dividend declarations, and other material-event reporting.
Proxy and annual meeting filings document board composition, director elections, advisory executive-compensation votes, auditor ratification, and related governance matters. The company's filings also discuss capital-structure items, material agreements, and risk factors tied to brand independence, cybersecurity, data and information liability, artificial intelligence, strategic transactions, indebtedness, regulatory conditions, and business continuity.
Morningstar, Inc. large shareholder Daniel Mansueto filed an amended Schedule 13G reporting his beneficial ownership of the company’s common stock. He reports beneficial ownership of 3,752,046 shares of common stock, representing 10.0% of the outstanding class.
Mansueto has sole voting power over 3,680,796 shares, held of record by grantor retained annuity trusts for which he serves as voting agent. He has shared voting power and shared dispositive power over an additional 71,250 shares held by a trust for which he is trustee. He reports no sole dispositive power over any shares.
Morningstar, Inc. received a Form 144 notice relating to a potential sale of 100,000 Class A common shares, described as Founders Shares, to be sold through Charles Schwab & Co. Inc. The shares were originally acquired on 05/01/1984, and the proposed sale date is 08/03/2026. The filing also lists multiple prior sales of Morningstar stock by Joseph D. Mansueto during May 2026, each showing the number of shares and total dollar proceeds for those transactions.
Morningstar, Inc. shareholder William M. Lyons has filed a notice to sell up to 1,000 Class A common shares of Morningstar through broker Charles Schwab on NASDAQ. The shares have an indicated aggregate value of $199,000, with 37,513,571 Morningstar shares outstanding as of August 3, 2026.
In the past three months, Lyons sold 700 shares for $125,300. The notice also lists prior equity compensation events from restricted stock lapses of 972 shares on May 15, 2018, and 28 shares on May 15, 2025.
Morningstar, Inc. reported strong second-quarter 2026 results, with revenue of $663.2 million, up 9.6% year over year and 6.8% on an organic basis; excluding product sunsets, organic growth would have been 8.2%. Operating income rose to $160.6 million, up 28.4%, and adjusted operating income reached $175.9 million, up 22.7%, lifting operating and adjusted operating margins to 24.2% and 26.5%, respectively.
Diluted EPS increased to $2.83, up 35.4%, while adjusted diluted EPS was $3.10, up 29.2%. Cash generation was notably stronger, with free cash flow of $122.5 million, up 96.3%. Morningstar Credit and Retirement delivered the fastest growth, with Credit revenue up 23.4% to $104.9 million and Retirement revenue up 17.0% to $37.9 million, both with expanding margins. Morningstar Wealth’s revenue declined 6.2% to $60.3 million, but adjusted margin improved to 13.1%.
Morningstar continued to invest in AI-enabled workflows and in its Indexes business, including integrating the CRSP acquisition, while returning capital via $100.0 million of share repurchases in the quarter and $400.0 million year to date. Total debt stood at $1.7 billion and cash, cash equivalents, and investments at $523.8 million as of June 30, 2026.
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. furnished an investor Q&A as part of a Regulation FD current report, giving more detail on how clients use its data, ratings, and platforms. The Q&A explains that Morningstar ratings and research are widely used in due diligence and can influence fund flows, supported by prior research on star ratings and the analyst-driven Medalist Rating.
Morningstar describes Essentials as usually part of a broader relationship in which asset managers also license additional managed investment or equity data and tools like Morningstar Direct. The Q&A highlights PitchBook’s client mix by segment and notes encouraging adoption of Model Context Protocol (MCP) connectors, with 17% of PitchBook client accounts accessing the connector in early 2026 and hundreds of Morningstar Direct clients doing the same. The MCP connectors are positioned as a strategically important distribution channel into AI workflows while preserving subscription-based access to premium content.
Morningstar, Inc. announced that its board of directors has declared a quarterly cash dividend of 50 cents per share. The dividend is payable on July 31, 2026, to shareholders of record as of July 10, 2026, and is consistent with the dividend paid in April.
Morningstar describes itself as a leading provider of independent investment insights serving investors and institutions globally, with approximately $370 billion in assets under management and advisement as of March 31, 2026.
Morningstar, Inc. director William M. Lyons reported an open-market sale of 700 shares of Common Stock at $179.00 per share. After this transaction, he continues to directly hold 13,904 shares, indicating this was a relatively small adjustment to his overall position.
Morningstar, Inc. Executive Chairman Joseph D. Mansueto reported open-market sales of a total of 9,520 shares of Morningstar common stock on May 21–22, 2026. The sales were made at prices ranging from $171.6700 to $179.8600 per share and were executed under a Rule 10b5-1 trading plan adopted on November 19, 2025.
After these transactions, Mansueto continues to hold more than 8 million Morningstar shares directly and also has indirect holdings through grantor retained annuity trusts and trusts for his children, which hold 150,000 shares and 6,277,675 shares, respectively.