Morningstar (MORN) Revenue & Revenue Breakdown

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Morningstar Revenue Highlights

Latest Revenue (Y)

$2.07B

Latest Revenue (Q)

$569.40M

Main Segment (Y)

Licensed-Based

Main Geography (Y)

UNITED STATES

Morningstar Revenue by Period

Morningstar Revenue by Year

Date	Revenue	Change
2023-12-31	$2.07B	10.46%
2022-12-31	$1.87B	10.08%
2021-12-31	$1.70B	22.30%
2020-12-31	$1.39B	17.85%
2019-12-31	$1.18B	15.60%
2018-12-31	$1.02B	11.87%
2017-12-31	$911.70M	14.16%
2016-12-31	$798.60M	1.24%
2015-12-31	$788.80M	3.78%
2014-12-31	$760.07M	8.85%
2013-12-31	$698.27M	6.07%
2012-12-31	$658.29M	4.26%
2011-12-31	$631.40M	13.69%
2010-12-31	$555.35M	15.94%
2009-12-31	$479.00M	-4.67%
2008-12-31	$502.46M	15.48%
2007-12-31	$435.11M	38.05%
2006-12-31	$315.18M	38.77%
2005-12-31	$227.11M	26.41%
2004-12-31	$179.66M	28.79%
2003-12-31	$139.50M	27.26%
2002-12-31	$109.62M	20.16%
2001-12-31	$91.23M	21.68%
2000-12-31	$74.97M	-

Morningstar generated $2.07B in revenue during NA 2023, up 10.46% compared to the previous quarter, and up 202.60% compared to the same period a year ago.

Morningstar Revenue by Quarter

Date	Revenue	Change
2024-09-30	$569.40M	-0.19%
2024-06-30	$570.50M	4.87%
2024-03-31	$544.00M	0.29%
2023-12-31	$542.40M	5.22%
2023-09-30	$515.50M	2.14%
2023-06-30	$504.70M	5.21%
2023-03-31	$479.70M	0.99%
2022-12-31	$475.00M	1.45%
2022-09-30	$468.20M	-0.47%
2022-06-30	$470.40M	2.93%
2022-03-31	$457.00M	-1.13%
2021-12-31	$462.20M	7.76%
2021-09-30	$428.90M	3.25%
2021-06-30	$415.40M	5.75%
2021-03-31	$392.80M	3.26%
2020-12-31	$380.40M	6.49%
2020-09-30	$357.20M	8.94%
2020-06-30	$327.90M	1.20%
2020-03-31	$324.00M	-2.53%
2019-12-31	$332.40M	5.93%
2019-09-30	$313.80M	14.57%
2019-06-30	$273.90M	5.79%
2019-03-31	$258.90M	-1.45%
2018-12-31	$262.70M	0.54%
2018-09-30	$261.30M	3.53%
2018-06-30	$252.40M	3.66%
2018-03-31	$243.50M	0.16%
2017-12-31	$243.10M	5.74%
2017-09-30	$229.90M	0.31%
2017-06-30	$229.20M	9.40%
2017-03-31	$209.50M	-1.27%
2016-12-31	$212.20M	8.21%
2016-09-30	$196.10M	-1.06%
2016-06-30	$198.20M	3.18%
2016-03-31	$192.10M	-4.71%
2015-12-31	$201.60M	3.23%
2015-09-30	$195.30M	-3.36%
2015-06-30	$202.10M	6.48%
2015-03-31	$189.80M	-3.37%
2014-12-31	$196.41M	1.71%
2014-09-30	$193.11M	1.96%
2014-06-30	$189.38M	4.54%
2014-03-31	$181.16M	0.37%
2013-12-31	$180.50M	4.05%
2013-09-30	$173.48M	-1.11%
2013-06-30	$175.43M	3.89%
2013-03-31	$168.86M	-1.03%
2012-12-31	$170.61M	6.00%
2012-09-30	$160.95M	-3.02%
2012-06-30	$165.97M	3.24%
2012-03-31	$160.76M	1.38%
2011-12-31	$158.57M	-0.92%
2011-09-30	$160.05M	-0.60%
2011-06-30	$161.01M	6.09%
2011-03-31	$151.77M	0.41%
2010-12-31	$151.15M	8.11%
2010-09-30	$139.82M	2.74%
2010-06-30	$136.09M	6.08%
2010-03-31	$128.29M	4.60%
2009-12-31	$122.64M	2.13%
2009-09-30	$120.09M	0.46%
2009-06-30	$119.53M	2.40%
2009-03-31	$116.73M	-2.13%
2008-12-31	$119.27M	-4.97%
2008-09-30	$125.50M	-5.09%
2008-06-30	$132.24M	5.42%
2008-03-31	$125.44M	6.20%
2007-12-31	$118.12M	-

Morningstar generated $569.40M in revenue during Q3 2024, up -0.19% compared to the previous quarter, and up 112.82% compared to the same period a year ago.

Morningstar Revenue Breakdown

Morningstar Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 23	Dec 22	Dec 21	Dec 20	Dec 19
Asset-Based	$279.60M	$269.40M	$264.90M	$223.80M	$211.60M
Transaction-Based	$241.50M	$269.50M	$302.70M	$230.80M	$154.70M
Licensed-Based	$1.52B	$1.33B	$1.13B	$934.90M	$812.70M

Morningstar's latest annual revenue breakdown by segment (product or service), as of Dec 23: Licensed-Based (74.44%), Asset-Based (13.72%), and Transaction-Based (11.85%).

Quarterly Revenue by Product

Product/Service	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19
Asset-Based	$83.80M	$84.70M	$77.00M	$75.50M	$71.50M	$67.30M	$65.30M	$66.00M	$67.30M	$67.60M	$68.50M	$70.30M	$68.40M	$64.80M	$61.40M	$59.40M	$55.40M	$51.80M	$57.20M	$55.70M
Licensed-Based	$408.80M	$401.70M	$400.20M	$393.00M	$384.50M	$376.00M	$364.00M	$349.70M	$342.60M	$327.50M	$311.90M	$301.40M	$287.00M	$277.20M	$266.10M	$254.90M	$242.90M	$221.10M	$216.00M	$211.70M
Transaction-Based	$76.80M	$85.50M	$65.60M	$70.20M	$59.50M	$61.40M	$50.40M	$59.30M	$58.30M	$75.30M	$76.60M	$90.50M	$73.50M	$73.40M	$65.30M	$66.10M	$58.90M	$55.00M	$50.80M	$65.00M

Morningstar's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Licensed-Based (71.79%), Asset-Based (14.72%), and Transaction-Based (13.49%).

Morningstar Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 23	Dec 22	Dec 21	Dec 20	Dec 19
Segment, Geographical, Group of Other Countries	$10.50M	$9.80M	$9.30M	$6.70M	$6.40M
UNITED STATES	$1.47B	$1.35B	$1.18B	$970.80M	$866.40M
AUSTRALIA	$58.40M	$55.80M	$56.90M	$45.60M	$39.50M
Asia	$49.30M	$44.80M	$41.10M	$33.60M	$27.90M
CANADA	$116.30M	$109.80M	$112.90M	$101.50M	$56.90M
Europe excluding the United Kingdom	$185.50M	$162.90M	$159.10M	$113.80M	$88.00M
Non United States	$568.00M	$516.70M	$515.00M	$418.70M	$312.60M

Morningstar's latest annual revenue breakdown by geography, as of Dec 23: UNITED STATES (59.81%), Non United States (23.10%), Europe excluding the United Kingdom (7.54%), CANADA (4.73%), AUSTRALIA (2.38%), Asia (2.01%), and Segment, Geographical, Group of Other Countries (0.43%).

Quarterly Revenue by Country

Country	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19
AUSTRALIA	$16.30M	$15.70M	$15.00M	$14.90M	$14.50M	$14.60M	$14.40M	$13.50M	$13.60M	$14.70M	$14.00M	$14.70M	$14.00M	$14.70M	$13.50M	$12.70M	$11.90M	$10.40M	$10.60M	$10.30M
UNITED STATES	$411.30M	$410.30M	$390.90M	$387.10M	$370.70M	$365.50M	$347.30M	$346.70M	$340.90M	$338.10M	$328.20M	$327.60M	$302.60M	$284.60M	$269.50M	$260.10M	$247.80M	$228.30M	$234.60M	$238.00M
Segment, Geographical, Group of Other Countries	$3.20M	$3.00M	$3.00M	$2.70M	$2.80M	$2.60M	$2.40M	$2.20M	$2.60M	$2.50M	$2.50M	$2.30M	$2.60M	$2.30M	$2.10M	$1.90M	$1.60M	$1.70M	$1.50M	$1.70M
Non United States	$158.10M	$161.60M	$151.90M	$151.60M	$144.80M	$139.20M	$132.40M	$128.30M	$127.30M	$132.30M	$128.80M	$134.60M	$126.30M	$130.80M	$123.30M	$120.30M	$109.40M	$99.60M	$89.40M	$94.40M
Europe excluding the United Kingdom	$51.60M	$50.10M	$49.70M	$49.50M	$47.30M	$45.60M	$43.10M	$41.30M	$39.10M	$41.20M	$41.30M	$42.90M	$41.10M	$38.90M	$36.20M	$34.60M	$32.30M	$23.90M	$23.00M	$24.40M
CANADA	$33.00M	$37.80M	$32.60M	$30.10M	$28.80M	$30.10M	$27.30M	$26.00M	$27.20M	$29.50M	$27.10M	$28.80M	$25.90M	$30.80M	$27.40M	$27.50M	$25.00M	$28.30M	$20.70M	$20.50M
Asia	$11.90M	$13.00M	$12.70M	$12.60M	$13.00M	$11.60M	$12.10M	$11.30M	$11.20M	$11.50M	$10.80M	$10.80M	$10.60M	$9.70M	$10.00M	$9.10M	$8.60M	$8.30M	$7.60M	$7.50M

Morningstar's latest quarterly revenue breakdown by geography, as of Sep 24: UNITED STATES (60.01%), Non United States (23.07%), Europe excluding the United Kingdom (7.53%), CANADA (4.81%), AUSTRALIA (2.38%), Asia (1.74%), and Segment, Geographical, Group of Other Countries (0.47%).

Morningstar Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
SPGI	S&P Global	$12.50B	$3.58B
ICE	Intercontinental Exchange	$9.90B	$3.03B
NDAQ	Nasdaq	$6.06B	$1.90B
MCO	Moody's	$5.92B	$1.81B
CME	CME Group	$5.58B	$1.58B
MSCI	MSCI	$2.53B	$724.71M
FDS	FactSet Research Systems	$2.20B	$552.71M
MORN	Morningstar	$2.07B	$569.40M

MORN Revenue FAQ

What is Morningstar’s yearly revenue?

Morningstar's yearly revenue for 2023 was $2.07B, representing an increase of 10.46% compared to 2022. The company's yearly revenue for 2022 was $1.87B, representing an increase of 10.08% compared to 2021. MORN's yearly revenue for 2021 was $1.7B, representing an increase of 22.30% compared to 2020.

What is Morningstar’s quarterly revenue?

Morningstar's quarterly revenue for Q3 2024 was $569.4M, a -0.19% decrease from the previous quarter (Q2 2024), and a 10.46% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $570.5M, a 4.87% increase from the previous quarter (Q1 2024), and a 13.04% increase year-over-year (Q2 2023). MORN's quarterly revenue for Q1 2024 was $544M, a 0.29% increase from the previous quarter (Q4 2023), and a 13.40% increase year-over-year (Q1 2023).

What is Morningstar’s revenue growth rate?

Morningstar's revenue growth rate for the last 3 years (2021-2023) was 21.60%, and for the last 5 years (2019-2023) was 75.26%.

What are Morningstar’s revenue streams?

Morningstar's revenue streams in c 23 are Asset-Based, Transaction-Based, and Licensed-Based. Asset-Based generated $279.6M in revenue, accounting 13.72% of the company's total revenue, up 3.79% year-over-year. Transaction-Based generated $241.5M in revenue, accounting 11.85% of the company's total revenue, down -10.39% year-over-year. Licensed-Based generated $1.52B in revenue, accounting 74.44% of the company's total revenue, up 13.95% year-over-year.

What is Morningstar’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of Morningstar was Licensed-Based. This segment made a revenue of $1.52B, representing 74.44% of the company's total revenue.