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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Regulation FD Disclosure

25 Nov 25

8-K

Regulation FD Disclosure

5 Nov 25

8-K

Entry into a Material Definitive Agreement

30 Oct 25

Morningstar, Inc. Reports Third-Quarter 2025 Financial Results

29 Oct 25

8-K

Departure of Directors or Certain Officers

14 Oct 25

8-K

Regulation FD Disclosure

26 Sep 25

8-K

Regulation FD Disclosure

Latest ownership filings

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Financial summary

Financial statements Chart MORN financial data

Quarter (USD)	Sep 25	Jun 25	Mar 25	Dec 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)	474.20 mm	474.20 mm	474.20 mm	474.20 mm	474.20 mm	474.20 mm
Cash burn (monthly)	9.77 mm	6.56 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	23.57 mm	15.83 mm	n/a	n/a	n/a	n/a
Cash remaining	450.63 mm	458.37 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	46.1	69.9	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

60.6% 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
25 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	214.5067	78	16.73 k	8,600,815
25 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	213.7454	570	121.83 k	8,600,893
25 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	212.7403	481	102.33 k	8,601,463
25 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	211.3055	157	33.17 k	8,601,944
24 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	211.9937	316	66.99 k	8,602,101
21 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	214.8368	87	18.69 k	8,602,417
21 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	214.1236	361	77.30 k	8,602,504
21 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	212.8158	566	120.45 k	8,602,865
21 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	211.4083	3,535	747.33 k	8,603,431
21 Nov 25	Joseph D Mansueto	Common Stock	Sell	Dispose S	No	Yes	210.147	2,701	567.61 k	8,606,966