Morningstar, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $2.4 | $2.3 | $2.0 | $1.9 | $1.7 |
| Operating income | $0.5 | $0.5 | $0.2 | $0.2 | $0.3 |
| Net income | $0.4 | $0.4 | $0.1 | $0.1 | $0.2 |
| Balance Sheet | |||||
| Total debt | $1.1 | $0.7 | $1.0 | — | — |
| Cash Flow Statement | |||||
| Free cash flow | $0.4 | $0.4 | $0.2 | $0.2 | $0.3 |
| Dividends | $0.1 | $0.1 | $0.1 | $0.1 | $0.1 |
| Share repurchases | $0.8 | $<0.1 | $<0.1 | $0.2 | $<0.1 |
Shares outstanding 37.5M · Free float 10.7%
Annual filing data through FY ended December 31, 2025; float as of October 10, 2026.