Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 17 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $170 billion in assets under advisement and management as of Sept. 30, 2015. The company has operations in 27 countries.

Company Growth (employees)
Chicago, US
Size (employees)
4,595 (est)+15%
Morningstar was founded in 1984 and is headquartered in Chicago, US

Key People at Morningstar

Stephane Biehler

Stephane Biehler

Chief Financial Officer
Kunal Kapoor

Kunal Kapoor

Haywood Kelly

Haywood Kelly

Head of Global Research
Bevin Desmond

Bevin Desmond

head of global information products and service
Thomas Idzorek

Thomas Idzorek

President - Morningstar Investment Management

Morningstar Office Locations

Morningstar has an office in Chicago
Chicago, US (HQ)
22 West Washington Street

Morningstar Data and Metrics

Morningstar Financial Metrics

Morningstar's revenue was reported to be $798.6 m in FY, 2016 which is a 1% increase from the previous period.

Revenue (FY, 2016)

798.6 m

Revenue growth (FY, 2015 - FY, 2016), %


Gross profit (FY, 2016)

454.3 m

Gross profit margin (FY, 2016), %


Net income (FY, 2016)

161 m

EBIT (FY, 2016)

180.8 m

Market capitalization (26-Jun-2017)

3.3 b

Closing share price (26-Jun-2017)


Cash (31-Dec-2016)

259.1 m


3.3 b
Morningstar's current market capitalization is $3.3 b.
USDFY, 2014FY, 2015FY, 2016


760.1 m788.8 m798.6 m

Revenue growth, %


Cost of goods sold

318.6 m330.1 m344.3 m

Gross profit

441.4 m458.7 m454.3 m

Gross profit Margin, %


Operating expense total

335.8 m268.1 m617.8 m


105.6 m190.6 m180.8 m

EBIT margin, %


Pre tax profit

114 m193.7 m224.9 m

Income tax expense

35.7 m62.7 m63.7 m

Net Income

78.3 m132.8 m161 m
USDFY, 2014FY, 2015FY, 2016


185.2 m207.1 m259.1 m

Accounts Receivable

136.7 m139.3 m145.8 m

Current Assets

399.8 m409.9 m472 m


117.6 m134.5 m152.1 m


370.1 m364.2 m556.8 m

Total Assets

1 b1 b1.4 b

Accounts Payable

34.3 m39.2 m44.6 m

Total Debt

30 m35 m250 m

Current Liabilities

293.8 m304.4 m294.9 m

Total Liabilities

364.9 m388.4 m654.1 m

Additional Paid-in Capital

561.1 m575.5 m584 m

Retained Earnings

641.5 m739.2 m861.9 m

Total Equity

654.4 m640.6 m696.8 m

Debt to Equity Ratio

0 x0.1 x0.4 x

Debt to Assets Ratio

0 x0 x0.2 x

Financial Leverage

1.6 x1.6 x1.9 x
USDFY, 2014FY, 2015FY, 2016

Net Income

78.3 m132.8 m161 m

Cash From Operating Activities

136.6 m241.5 m213.7 m

Capital Expenditures

(58.3 m)(57.3 m)(62.8 m)

Cash From Investing Activities

(31.2 m)(79.5 m)(274.2 m)

Cash From Financing Activities

(76.1 m)(127.5 m)123.7 m

Free Cash Flow

78.3 m184.2 m150.9 m
USDY, 2016


18.4 x


15.5 x


22 x


199.7 k


0.4 x


0.2 x

Financial Leverage

1.9 x

Morningstar Operating Metrics

Morningstar's Assets Under Management was reported to be $192.6 b in FY, 2016, which is a 7% increase from the previous period
FY, 2014FY, 2015FY, 2016

Assets Under Management

167.3 b$179.7 b$192.6 b



Subscriptions (US)

123.27 k120.56 k118.34 k

Registered Users (US)

8.19 m8.53 m8.89 m

Morningstar Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
PitchBook DataOctober 14, 2016$180 m
HelloWalletMay 29, 2014$5.3 m

Morningstar Market Value History

Morningstar Revenue Breakdown

Morningstar Median Salaries

Source: 100 public H-1B filings from Morningstar

Morningstar Online and Social Media Presence

Morningstar News and Updates

Morningstar Company Life and Culture

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