Morningstar, Inc. (MORN) Form 10-Q — Oct 28, 2026
Morningstar's Q3 2026 revenue rose 8.9% year over year to $672.1 million, with operating income up 31.0% to $167.4 million and operating margin expanding 4.2 percentage points to 24.9%. Diluted EPS jumped to $3.06 from $2.17 a year ago, and organic revenue grew 6.8%, led by Morningstar Credit (revenue +18.3%) and Morningstar Retirement (+21.3%). PitchBook growth was softer at 3.9% with churn in corporate and VC client segments. The company completed the $363.0 million CRSP acquisition in February, boosting Morningstar Indexes revenue 78.9%, while total debt rose to $1.68 billion under the new $1.5 billion credit facility.
Key figures
- Eps
- 3.06
- Revenue
- 672.1
- Net Income
- 115.5
- Revenue Yoy
- 8.9%
- Cash Position
- 524.6
- Shares Outstanding
- 37104311
- Diluted eps q3 2025
- 2.17
- Operating income q3
- 167.4 million (+31.0% YoY)
- Operating margin q3
- 24.9% (+4.2pp)
- Crsp acquisition price
- 363.0 million cash
- Buybacks nine months 2026
- 2,777,829 shares for $500.0 million
- Organic revenue growth q3
- 6.8%
- Free cash flow nine months
- 331.5 million (+17.8%)
- Credit segment revenue growth q3
- 18.3%
- Remaining performance obligations
- approximately $1.7 billion
AI analysis
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