Morningstar, Inc.
Morningstar, Inc. operates as a leading global provider of independent investment insights and financial information services. The company's mission centers on empowering investor success by delivering connected data, independent research, investor-first tools, and long-term portfolio strategies designed to remove… From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What Morningstar, Inc. does
In the company’s own words
Morningstar, Inc. operates as a leading global provider of independent investment insights and financial information services. The company's mission centers on empowering investor success by delivering connected data, independent research, investor-first tools, and long-term portfolio strategies designed to remove friction from investment decision-making processes.
The company operates through five primary reportable segments. Morningstar Direct Platform provides comprehensive investment data, research, and analysis tools including Morningstar Data, Morningstar Direct, and Morningstar Advisor Workstation, serving asset managers, wealth managers, and financial advisors. PitchBook delivers private market data and insights alongside public equity research through an integrated platform serving private equity firms, venture capital investors, asset managers, and institutional clients. Morningstar Credit operates through Morningstar DBRS, one of the top four global credit rating agencies, and Morningstar Credit Analytics, providing ratings, research, and analytics for structured finance and credit markets. Morningstar Wealth encompasses investment management services, model portfolios, and individual investor platforms including Morningstar.com. Morningstar Retirement offers managed retirement accounts, fiduciary services, and custom portfolio models for defined contribution plans and individual retirement accounts.
As of December 31, 2025, the company employed 10,973 permanent full-time employees globally, with approximately 43 percent based in India, 29 percent in the United States, 10 percent in Continental Europe, 7 percent in Canada, and 6 percent in the United Kingdom. The company manages approximately $378.0 billion in assets under management and advisement across its wealth and retirement segments.
Morningstar generates revenue through three primary channels: license-based subscriptions representing the majority of revenue, asset-based fees tied to managed assets, and transaction-based revenue primarily from credit ratings activities. The company maintains a portfolio of registered trademarks including Morningstar Rating, Morningstar Style Box, and PitchBook, among others. Since 1984, Morningstar has completed 46 acquisitions supporting its growth strategy, including recent acquisitions of Lumonic Inc. and DealX to expand capabilities in portfolio monitoring and structured finance analytics.
The company website is www.morningstar.com. Morningstar trades on the NASDAQ under ticker symbol MORN.
Company details
- Sector
- Financials
- Industry
- Banks & Brokers
- Headquarters
- CHICAGO, IL
- Fiscal year end
- December
- CIK
- 1289419
- SIC
- 6282
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns Morningstar, Inc. — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · Morningstar, Inc.’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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