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MORN 
Morningstar Inc (MORN)
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Upturn Advisory Summary
01/08/2026: MORN (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
3 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $278.33
1 Year Target Price $278.33
| 1 | Strong Buy |
| 1 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 5.83% | Avg. Invested days 57 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 01/08/2026 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 9.02B USD | Price to earnings Ratio 24.32 | 1Y Target Price 278.33 |
Price to earnings Ratio 24.32 | 1Y Target Price 278.33 | ||
Volume (30-day avg) 3 | Beta 1.08 | 52 Weeks Range 202.43 - 332.74 | Updated Date 01/8/2026 |
52 Weeks Range 202.43 - 332.74 | Updated Date 01/8/2026 | ||
Dividends yield (FY) 0.84% | Basic EPS (TTM) 8.79 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 15.7% | Operating Margin (TTM) 20.7% |
Management Effectiveness
Return on Assets (TTM) 8.27% | Return on Equity (TTM) 24.42% |
Valuation
Trailing PE 24.32 | Forward PE 18.94 | Enterprise Value 9319877364 | Price to Sales(TTM) 3.76 |
Enterprise Value 9319877364 | Price to Sales(TTM) 3.76 | ||
Enterprise Value to Revenue 3.89 | Enterprise Value to EBITDA 12.57 | Shares Outstanding 41129198 | Shares Floating 20643978 |
Shares Outstanding 41129198 | Shares Floating 20643978 | ||
Percent Insiders 45.29 | Percent Institutions 62.75 |
Upturn AI SWOT
Morningstar Inc
Company Overview
History and Background
Morningstar, Inc. was founded in 1984 by Joe Mansueto with the goal of providing independent, unbiased investment research. Initially focused on mutual fund ratings, it has since expanded significantly into a global investment research and investment management firm. Key milestones include its IPO in 2005, expansion into international markets, and numerous strategic acquisitions to broaden its service offerings and technological capabilities. The company has evolved from a data provider to a comprehensive solutions provider for investors and financial professionals.
Core Business Areas
- Investment Research: Provides independent investment research, including data, analysis, and ratings on stocks, mutual funds, ETFs, and other investment vehicles. This is a foundational offering for individual investors, financial advisors, and institutions.
- Investment Management: Offers asset management services through its subsidiary, Morningstar Investment Management LLC, managing portfolios for institutional and individual clients.
- Data and Analytics Platforms: Develops and provides data and analytics platforms for financial professionals, including tools for portfolio analysis, retirement planning, and wealth management. These platforms are crucial for advisors to serve their clients effectively.
- Advisor Solutions: Offers a suite of technology and services designed to help financial advisors run their businesses more efficiently and effectively, including client relationship management and financial planning tools.
- Workplace Solutions: Provides retirement plan solutions for employers and plan sponsors, including recordkeeping, investment management, and participant education.
Leadership and Structure
Morningstar, Inc. is led by a management team with extensive experience in finance and technology. The company operates with a divisional structure, aligning with its core business areas to foster specialization and innovation. Key leadership roles include the Chief Executive Officer, Chief Financial Officer, and heads of various business units and regional operations.
Top Products and Market Share
Key Offerings
- Morningstar Direct: A global investment analysis platform for asset managers, financial advisors, and asset owners. It offers robust data, analytical tools, and customizable reporting. Competitors include Bloomberg Terminal, Refinitiv Eikon, and FactSet.
- Morningstar Advisor Workstation: A comprehensive platform for financial advisors that integrates portfolio management, financial planning, and client reporting tools. Competitors include Envestnet, Orion Advisor Services, and Schwab Advisor Services.
- Morningstar Ratings and Research: Its flagship mutual fund and ETF ratings, along with in-depth research reports. These are widely used by individual investors and financial professionals. Competitors for research and ratings include S&P, Moody's, and Fitch Ratings, as well as internal research teams at brokerage firms.
- Morningstar Managed Portfolios: A range of model portfolios designed for financial advisors to offer to their clients, managed by Morningstar Investment Management. Competitors include Vanguard, BlackRock, and other asset managers offering similar managed account solutions.
Market Dynamics
Industry Overview
Morningstar operates in the financial data, research, and investment management industries. This sector is characterized by increasing demand for data analytics, technology-driven solutions, and independent research. The industry is also influenced by regulatory changes, evolving investor preferences (e.g., passive investing, ESG), and the continuous need for robust data and advisory tools.
Positioning
Morningstar is a leading independent provider of investment research and data, known for its impartiality and analytical rigor. Its competitive advantages include a strong brand reputation, a vast proprietary database, a global reach, and a diversified business model that serves various segments of the financial ecosystem, from individual investors to large institutions. The company's integration of technology and data analytics further solidifies its position.
Total Addressable Market (TAM)
The total addressable market for financial data, research, software, and investment management is vast and growing, encompassing trillions of dollars in assets under management and a global network of financial professionals and retail investors. Morningstar is well-positioned to capture a significant portion of this TAM through its diverse product suite, expanding global presence, and continuous innovation in technology and data services.
Upturn SWOT Analysis
Strengths
- Strong brand reputation for independence and quality of research.
- Extensive and proprietary global investment database.
- Diversified revenue streams across different business segments.
- Global presence and established client base.
- Technological innovation and robust data analytics capabilities.
Weaknesses
- Reliance on key data sources and potential for disruption.
- Competition from larger, more diversified financial technology companies.
- Integration challenges with acquired companies.
- Perceived as a data and research provider rather than a primary investment manager by some.
Opportunities
- Expansion into emerging markets.
- Growing demand for ESG (Environmental, Social, and Governance) investment data and research.
- Increased adoption of financial technology (FinTech) solutions by advisors.
- Further development and monetization of data analytics and AI capabilities.
- Growth in defined contribution plans and workplace retirement solutions.
Threats
- Intensifying competition from established players and new entrants.
- Regulatory changes impacting data provision and investment management.
- Cybersecurity risks and data breaches.
- Economic downturns affecting investment volumes and asset values.
- Disruption from new technologies that could displace existing business models.
Competitors and Market Share
Key Competitors
- Bloomberg L.P. (Private)
- Refinitiv (an LSEG business)
- FactSet Research Systems Inc. (FDS)
- S&P Global Inc. (SPGI)
Competitive Landscape
Morningstar's advantages lie in its strong brand recognition for independent research, comprehensive data coverage, and a diversified revenue model. However, it faces stiff competition from larger, more established players like Bloomberg and Refinitiv, which offer broader financial data terminals and services. FactSet and S&P Global are also significant competitors in specific data and research segments. Morningstar differentiates itself through its deep focus on investment analysis and its commitment to objectivity.
Major Acquisitions
Orion Advisor Technology
- Year: 2022
- Acquisition Price (USD millions): 1500
- Strategic Rationale: This acquisition significantly expanded Morningstar's advisor technology capabilities, integrating Orion's leading portfolio accounting and business management platform with Morningstar's research and data offerings to provide a more comprehensive solution for financial advisors.
PitchBook Data, Inc.
- Year: 2016
- Acquisition Price (USD millions):
- Strategic Rationale: Acquisition of PitchBook, a leading data provider for the private equity and venture capital markets, broadened Morningstar's research scope into alternative asset classes and served institutional investors and private capital markets.
Growth Trajectory and Initiatives
Historical Growth: Morningstar has exhibited consistent historical growth, driven by organic expansion of its research and data services, as well as through strategic acquisitions that have broadened its capabilities and market reach. Revenue and profitability have generally trended upwards over the long term.
Future Projections: Analyst projections for Morningstar's future growth are generally positive, anticipating continued expansion in its data and analytics platforms, investment management services, and advisor solutions. The company is expected to benefit from the increasing demand for financial technology and data-driven insights in the investment industry.
Recent Initiatives: Recent initiatives include ongoing investment in its technology infrastructure, expansion of its ESG offerings, strategic partnerships, and targeted acquisitions to enhance its product suite and global footprint. The company is also focused on leveraging artificial intelligence and machine learning to improve its research and client offerings.
Summary
Morningstar Inc. is a strong player in the financial data and research industry, benefiting from its independent reputation, extensive data, and diversified services. Its recent acquisitions, such as Orion Advisor Technology, demonstrate a strategic push to enhance its technological offerings for financial advisors. While competition is intense from larger FinTech firms, Morningstar's focus on unbiased research and data analytics provides a solid foundation for continued growth. Key areas to watch include its expansion into new markets and its ability to innovate in rapidly evolving technology landscapes.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Morningstar Inc. Official Investor Relations
- SEC Filings (10-K, 10-Q)
- Financial News Outlets (e.g., Wall Street Journal, Bloomberg)
- Industry Analysis Reports
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. The data provided is based on publicly available information and estimations, and may not be entirely current or complete. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Morningstar Inc
Exchange NASDAQ | Headquaters Chicago, IL, United States | ||
IPO Launch date 2005-05-03 | CEO & Director Mr. Kunal Kapoor CFA | ||
Sector Financial Services | Industry Financial Data & Stock Exchanges | Full time employees 11154 | Website https://www.morningstar.com |
Full time employees 11154 | Website https://www.morningstar.com | ||
Morningstar, Inc. provides independent investment insights in the United States, Asia, Australia, Canada, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement. The company offers managed investments, including mutual funds, ETFs, separate accounts, collective investment trusts, model portfolios, equities, and fixed income securities; Morningstar Direct is an investment-analysis and reporting application; Morningstar Advisor Workstation, a suite of tools to provide advice to clients. It also provides PitchBook that offers data and research covering the private capital markets comprising venture capital, private equity, private credit and bank loans, and merger and acquisition activities through the PitchBook platform; model portfolios and wealth platforms; Morningstar Model Portfolios, an advisor service with model portfolios for fee-based independent financial advisors; and Morningstar.com that discovers, evaluates, and monitors stocks, ETFs, and mutual funds, as well as build and monitor portfolios and markets. In addition, the company offers credit ratings, research, data, and credit analytics solutions; Morningstar DBRS which offers securitizations and other structured finance instruments, such as asset-backed securities, residential and commercial mortgage-backed securities, and collateralized loan obligations. Further, it provides managed retirement accounts, fiduciary services, Morningstar Lifetime Allocation funds, and custom models; Morningstar Sustainalytics provides environmental, social and governance data, research, and ratings; and Morningstar Indexes offers market indexes used for performance benchmarks and as the basis for investment products and other portfolio strategies. Morningstar, Inc. was incorporated in 1984 and is headquartered in Chicago, Illinois.
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