Morningstar Earnings Reports

Morningstar, Inc. reported a 9.7% increase in Q4 2024 revenue to $591.0 million, with adjusted EPS growing 8.6% to $2.14. Operating income rose 78.2% to $168.2 million, driven by the sale of US TAMP assets. Free cash flow improved to $112.8 million. PitchBook and Morningstar Credit led revenue growth, supported by higher demand for investment insights and analytics.

Morningstar, Inc. reported a 10.5% increase in revenue to $569.4 million and a 65.0% increase in operating income to $115.5 million in Q3 2024. Diluted net income per share increased by 204.4% to $2.77, with adjusted diluted net income per share increasing by 56.3% to $2.00. The company's growth was primarily driven by Morningstar Credit, PitchBook, and Morningstar Data and Analytics.

Morningstar, Inc. reported a 13.3% increase in revenue to $571.9 million and a significant rise in operating income, which increased by 160.2% to $108.5 million. Diluted net income per share increased by 90.5% to $1.60, and adjusted diluted net income per share increased by 54.6% to $2.01. The company's growth was primarily driven by Morningstar Credit, PitchBook, and Morningstar Data and Analytics.

Morningstar's Q1 2024 financial results showed a 13.2% increase in revenue to $542.8 million. Operating income increased significantly to $92.6 million, and diluted net income per share rose to $1.49. The company's free cash flow also improved, reaching $59.5 million.

Morningstar's Q4 2023 results showed a revenue increase of 13.4% to $113 million and adjusted operating income increased by 70.2% to $63.7 million. The company's free cash flow increased by 59.9% to $107.8 million. The revenue growth was driven by license-based, asset-based and transaction-based revenues.

Morningstar reported a 10.1% increase in revenue to $515.5 million in Q3 2023. Operating income was $70.0 million, a significant increase from $22.0 million in the prior-year period. Net income was $39.1 million, or $0.91 per diluted share, compared to a net loss of $(9.0) million, or $(0.21) per diluted share, in Q3 2022.

Morningstar's second-quarter revenue grew by 7.3% to $504.7 million, with organic revenue up 5.1%. License-based revenue increased 14.8%, while transaction-based revenue declined 18.5%. The company's adjusted diluted net income per share increased 11.1% to $1.30.

Morningstar's first-quarter revenue grew by 5.0% to $479.7 million, with organic revenue up 2.8%. Growth was driven by license-based product areas, while asset-based and transaction-based areas faced headwinds. The company reported a net loss of $7.6 million, or ($0.18) per diluted share.

Morningstar's Q4 2022 revenue increased by 2.8% to $475.0 million. License-based revenue grew by 16.0%, while asset-based and transaction-based revenues decreased. Operating income was $35.5 million, and net income was $3.3 million, or $0.08 per diluted share.

Morningstar's Q3 2022 revenue increased by 9.2% to $468.2 million. However, operating income declined by 67.6% to $22.0 million, and net income resulted in a loss of ($9.0) million, or ($0.21) per diluted share. The company is moderating hiring activity in response to the challenging environment.

Morningstar's second-quarter revenue increased by 13.2% to $470.4 million. Organic revenue grew by 15.8%, driven by licensed-based areas. Net income was $30.1 million, or $0.70 per diluted share.

Morningstar reported a 16.3% increase in revenue to $457.0 million in Q1 2022. Organic revenue grew by 18.1%. The company's operating income was $56.4 million, a decrease of 16.1% compared to the prior-year period. Net income was $46.1 million, or $1.06 per diluted share.

Morningstar, Inc. reported strong fourth-quarter revenue and cash generation, concluding a year of significant growth. Revenue for the quarter increased by 21.5% to $462.2 million. Net income for the fourth quarter was $56.5 million, or $1.30 per diluted share.

Morningstar's Q3 2021 results showcased strong revenue growth, increasing by 20.1% to $428.9 million. Operating income increased by 53.0% to $67.8 million. Net income was $49.0 million, or $1.13 per diluted share.

Morningstar's Q2 2021 financial results showcased a robust 26.7% increase in revenue, reaching $415.4 million. The company's success was driven by broad-based revenue growth and strong demand for its products and solutions. Net income was $32.9 million, or $0.76 per diluted share.

Morningstar reported a strong first quarter in 2021, with revenue increasing by 21.2% to $392.8 million. The company's license-based offerings, DBRS Morningstar, and ESG solutions contributed significantly to the growth. Net income also saw a substantial increase, reaching $54.9 million, or $1.27 per diluted share.

Morningstar reported a strong fourth quarter and full year for 2020, marked by revenue growth, strategic acquisitions like Sustainalytics, and increased profitability. The company's focus on ESG and expansion in data and analytics contributed to its success.

Morningstar, Inc. reported a 13.8% increase in revenue to $357.2 million for the third quarter of 2020. The company's net income was $76.2 million, or $1.76 per diluted share, which included a $1.18 per share holding gain related to Morningstar's previously held equity interest in Sustainalytics. Adjusted operating income increased by 42.3% to $91.2 million, and adjusted diluted net income per share increased by 46.2% to $1.55.

Morningstar's Q2 2020 revenue increased by 19.7% to $327.9 million, with organic revenue growth of 5.8%. Net income was $48.2 million, or $1.12 per diluted share, compared to $42.1 million, or $0.98 per diluted share, in the prior year. Adjusted diluted net income per share increased 31.2% to $1.43. The company's license-based revenue grew 10.1% year over year, driven by PitchBook, Morningstar Data, and Morningstar Direct.

Morningstar reported a 25.1% increase in revenue to $324.0 million in Q1 2020, with organic revenue growth of 11.6%. DBRS Morningstar contributed $37.2 million to revenue. Net income decreased to $23.9 million, or $0.55 per diluted share.

Morningstar, Inc. reported a strong fourth quarter and full year 2019, driven by revenue growth of 26.5% compared to Q4 2018, reaching $332.4 million. The acquisition of DBRS Morningstar contributed significantly to the revenue increase. The company made strategic investments in workforce, facilities, and product innovation.