Morningstar (MORN)

Corporate Fundamentals, Inc. • DBRS, Inc. • Morningstar Credit Analytics LLC • Morningstar Index Holding Corp. • Morningstar Investment Management LLC • Morningstar Investment Services LLC • Morningstar Ratings Holding Corp. • Morningstar Research Services LLC • PitchBook Data, Inc. • PitchBook Holding, Inc. ...

IRS number

363297908

MORN stock data

1M 3M 6M 1Y

Latest filings (excl ownership)

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DEFA14A

Additional proxy soliciting materials

Annual report to shareholders

28 Mar 25

DEFA14A

Additional proxy soliciting materials

25 Mar 25

8-K

Regulation FD Disclosure

Morningstar, Inc. Reports Fourth-Quarter, Full-Year 2024 Financial Results

26 Feb 25

8-K

Regulation FD Disclosure

31 Jan 25

8-K

Regulation FD Disclosure

13 Dec 24

Latest ownership filings

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Financial summary

Financial statements Chart MORN financial data

Quarter (USD)	Dec 24	Sep 24	Jun 24	Mar 24
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 24	Dec 23	Dec 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	502.70 mm	502.70 mm	502.70 mm	502.70 mm	502.70 mm	502.70 mm
Cash burn (monthly)	16.73 mm	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	63.19 mm	n/a	n/a	n/a	n/a	n/a
Cash remaining	439.51 mm	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	26.3	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Morningstar earnings reports.

Institutional ownership, Q4 2024

MORN institutional ownership history Ownership history

60.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	445	407	+9.3%
Opened positions	74	56	+32.1%
Closed positions	36	42	-14.3%
Increased positions	152	160	-5.0%
Reduced positions	145	106	+36.8%

13F shares	Current	Prev Q	Change
Total value	8.28 tn	7.83 tn	+5.7%
Total shares	25.73 mm	25.53 mm	+0.8%
Total puts	2.90 k	4.70 k	-38.3%
Total calls	14.00 k	16.70 k	-16.2%
Total put/call ratio	0.2	0.3	-26.4%

Largest owners	Shares	Value	Change
Vanguard	2.80 mm	$944.14 bn	+1.9%
BlackRock	2.67 mm	$898.39 bn	+3.5%
MS Morgan Stanley	2.06 mm	$692.69 bn	-0.9%
Select Equity	1.37 mm	$462.85 bn	-21.9%
Bamco	1.31 mm	$439.52 bn	-0.0%
BAC Bank of America	1.30 mm	$438.91 bn	-16.3%
Wellington Management	1.08 mm	$363.90 bn	+13.7%
Massachusetts Financial Services	1.02 mm	$342.25 bn	-15.4%
Kayne Anderson Rudnick Investment Management	975.19 k	$328.41 bn	-6.5%
STT State Street	841.63 k	$283.43 bn	+4.6%

Largest transactions	Shares	Bought/sold	Change
Select Equity	1.37 mm	-384.89 k	-21.9%
Norges Bank	331.67 k	+331.67 k	NEW
BAC Bank of America	1.30 mm	-253.26 k	-16.3%
Millennium Management	287.66 k	-207.45 k	-41.9%
Amundi	728.00	-192.05 k	-99.6%
Massachusetts Financial Services	1.02 mm	-185.40 k	-15.4%
Balyasny Asset Management	168.03 k	+168.03 k	NEW
Premier Fund Managers	150.00 k	+150.00 k	NEW
Wellington Management	1.08 mm	+130.09 k	+13.7%
Schroder Investment Management	100.19 k	+100.19 k	NEW

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

MORN insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
14 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	287.4668	57	16.39 k	10,027,836
14 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	286.9615	788	226.13 k	10,027,893
14 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	285.9067	183	52.32 k	10,028,681
14 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	284.8397	263	74.91 k	10,028,864
14 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	283.2205	59	16.71 k	10,029,127
14 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	282.0001	20	5.64 k	10,029,186
13 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	287.1	2	574.20	10,029,206
12 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	287.9947	124	35.71 k	10,029,208
12 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	287.3374	301	86.49 k	10,029,332
12 Mar 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	285.773	893	255.20 k	10,029,633