Morningstar, Inc. splits its revenue into 4 lines in its filings. The largest line in Q3 of fiscal 2026, the quarter ended Sep 30, 2026 was Licensed Based at $459.0 million, 68% of the total.
USD in millions. The percent under a figure is the change from the same quarter a year earlier.
| Line |
TTM
Sep 30, 2026
|
Q3 FY2026
Sep 30, 2026
|
Q2 FY2026
Jun 30, 2026
|
Q1 FY2026
Mar 31, 2026
|
Q4 FY2025
Dec 31, 2025
|
Q3 FY2025
Sep 30, 2025
|
Q2 FY2025
Jun 30, 2025
|
Q1 FY2025
Mar 31, 2025
|
Q4 FY2024
Dec 31, 2024
|
|---|---|---|---|---|---|---|---|---|---|
| Revenue |
2,621
|
672
|
663
|
645
|
641
|
617
|
605
|
582
|
591
|
| Licensed Based |
1,797
+6.0%
share 68.5%
|
459
+5.5%
share 68.3%
|
455
+6.2%
share 68.6%
|
445
+6.4%
share 69.0%
|
438
+5.6%
share 68.3%
|
435
share 70.5%
|
428
share 70.8%
|
418
share 71.8%
|
414
share 70.1%
|
| Transaction Based |
439
+22.3%
share 16.8%
|
110
+12.7%
share 16.4%
|
111
+18.0%
share 16.8%
|
105
+34.0%
share 16.3%
|
—
|
98
share 15.8%
|
94
share 15.6%
|
78
share 13.4%
|
89
share 15.0%
|
| Asset Based |
385
+13.1%
share 14.7%
|
103
+21.6%
share 15.3%
|
97
+17.5%
share 14.6%
|
95
+11.0%
share 14.7%
|
90
+2.9%
share 14.1%
|
85
share 13.7%
|
82
share 13.6%
|
86
share 14.7%
|
88
share 14.8%
|
| Morningstar Sustainalytics |
106
-6.5%
share 4.1%
|
26
-6.4%
share 3.9%
|
26
-6.6%
share 3.8%
|
27
-7.6%
share 4.1%
|
28
-5.4%
share 4.3%
|
28
share 4.6%
|
27
share 4.5%
|
29
share 4.9%
|
29
share 5.0%
|
How these figures are calculated
Quarterly columns are single-quarter amounts. When a 10-Q reports only a year-to-date total, as cash flow statements do, the quarter is that total minus the previous quarter's year-to-date total. The fourth quarter is the annual report's full year minus the first nine months. A column marked YTD is a year-to-date total, shown when the earlier report needed for the single quarter is missing. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. The first column adds the latest year-to-date segment amount to the last fiscal year and subtracts the year-ago year-to-date amount. More on our methodology.
Company profile
- Industry
- Investment Advice (SIC 6282)
- Listed as
- MORN (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- IL
- Headquarters
- Chicago, IL
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1289419
Other Investment Advice companies
Source: SEC EDGAR filings. This is company-reported data, not investment advice.