The financials
Morningstar, Inc. by the numbers
Morningstar, Inc. (MORN) reported revenue of $645M in Q1 2026 (quarter ended Mar 31, 2026), up 11% from the same quarter a year earlier. That came with a gross margin of 63% and net income of $107M (17% of revenue). For the full year FY2025, revenue was $2.45B (+7.5% year on year) and net income $374M. Its largest region in Jun 2026 was United States at $479M, 81% of the disclosed total, well ahead of United Kingdom at 8.0%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $645M | $582M | +11% |
| Gross profit | $406M | $351M | +16% |
| Operating income | $156M | $114M | +37% |
| Net income | $107M | $79M | +36% |
| Diluted EPS | $2.73 | $1.82 | +50% |
| Geographic | Revenue | Share |
|---|---|---|
| United States | $479M | 81% |
| United Kingdom | $47M | 8.0% |
| Canada | $47M | 7.9% |
| Australia | $19M | 3.3% |
Business Segments
Revenue split by geographic segment, from SEC XBRL filings.
Latest period: Jun 2026Total $592.4M (+3.6%)
Canada grew +21% year on yearUnited Kingdom -1.9% year on year
Segment Latestquarter on quarteryear on year
- United States$479.1M$479.1MQoQ +3.7%year on year +11%+3.7%+11%
- United Kingdom$47.3M$47.3MQoQ -3.9%year on year -1.9%-3.9%-1.9%
- Canada$46.6M$46.6MQoQ +9.1%year on year +21%+9.1%+21%
- Australia$19.4M$19.4MQoQ +7.2%year on year +20%+7.2%+20%
Financial Services
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