Company Valuation: Morningstar, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,738 9,193 12,222 14,442 8,938 6,564 - -
Change - -37.62% 32.95% 18.16% -38.11% -26.56% - -
Enterprise Value (EV) 1 14,738 10,003 12,806 14,589 9,482 7,545 7,244 7,129
Change - -32.13% 28.02% 13.93% -35.01% -20.43% -3.98% -1.58%
P/E - 132x 87x 39.2x 24.5x 16.6x 14.4x 12x
PBR - - - 8.97x 7.51x 5.91x 4.94x 5.15x
PEG - - 1x 0x 7.25x 1x 0.9x 0.6x
Capitalization / Revenue - 4.91x 6x 6.35x 3.65x 2.5x 2.36x 2.23x
EV / Revenue - 5.35x 6.28x 6.41x 3.88x 2.87x 2.61x 2.42x
EV / EBITDA - 25.1x 29x 23.9x 13.2x 9.34x 8.16x 7.18x
EV / EBIT - 33.5x - 29.5x 16.3x 11.2x 9.66x 8x
EV / FCF - 59.4x 64.9x 32.5x 21.4x 15.1x 13.8x -
FCF Yield - 1.68% 1.54% 3.08% 4.67% 6.6% 7.23% -
Dividend per Share 2 - 1.44 1.5 1.67 1.88 2.013 2.213 2.867
Rate of return - 0.66% 0.52% 0.5% 0.87% 1.17% 1.28% 1.66%
EPS 2 - 1.64 3.29 8.58 8.87 10.38 11.96 14.4
Distribution rate - 87.8% 45.6% 19.5% 21.2% 19.4% 18.5% 19.9%
Net sales 1 - 1,871 2,039 2,275 2,446 2,626 2,776 2,949
EBITDA 1 - 398.8 440.9 611.2 716.5 807.9 887.8 992.8
EBIT 1 - 298.9 - 493.8 582.9 675.8 749.7 891
Net income 1 193.3 70.5 141.1 369.9 374.2 401.3 451.9 518.9
Net Debt 1 - 809.2 583.4 147.6 543.9 980.7 680.1 565.4
Reference price 2 341.99 216.59 286.24 336.76 217.31 172.61 172.61 172.61
Nbr of stocks (in thousands) 43,095 42,446 42,700 42,884 41,129 38,028 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/26/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
16.15x2.8x9.1x1.2% 6.37B
19.44x4x11.09x2.18% 31.25B
11.41x - - - 1.16B
29.21x2.63x10.27x - 370M
Average 19.05x 3.14x 10.15x 1.69% 9.79B
Weighted average by Cap. 18.76x 3.78x 10.75x 2.01%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. MORN Stock
  4. Valuation Morningstar, Inc.