Business Segments Morningstar, Inc. Xetra

Stocks

Real-time Estimate Tradegate Other stock markets 02:03:09 2026-06-15 EDT			5-day change	1st Jan Change
152.32 ^EUR	+1.38%		+329.29%	+329.29%

06-11	British device maker Halma's shares slump on slower annual growth forecast	RE
06-10	CME Group Enters Licensing Agreement With Morningstar to Offer Derivatives Products	DJ

Breakdown by Business Segment (USD)

Fiscal Period: December	2021	2022	2023	2024	2025
Financial Data Feeds
Morningstar Direct Platform	-	-	747M	788M	831M
D&A	-	-	31M	37.9M	44.7M
Operating Income	-	-	340M	355M	369M
Pitchbook	-	-	552M	618M	672M
D&A	-	-	26.8M	31.8M	33.6M
Operating Income	-	-	148M	186M	210M
OnLine Financial Information Providers	1.7B	1.87B	-	-	-
Total Assets	2.86B	3.47B	-	-	-
Interest Expense	-10.4M	-28.4M	-	-	-
Income Tax Expense	62.6M	56.5M	-	-	-
CAPEX	-102M	-130M	-	-	-
EBT	256M	127M	-	-	-
D&A	90.8M	102M	-	-	-
Operating Income	257M	168M	-	-	-
Net Income	193M	70.5M	-	-	-
Business and Sovereign Credit Rating Agencies
Morningstar Credit	-	-	215M	291M	354M
D&A	-	-	9.1M	8.9M	8.1M
Operating Income	-	-	21.7M	75.6M	115M
System Software for Investment and Capital Markets
Morningstar Wealth	-	-	230M	248M	251M
D&A	-	-	15.8M	18.5M	14.9M
Operating Income	-	-	-40.4M	-9.3M	9.6M
Corporate and ALL Other	-	-	184M	202M	200M
D&A	-	-	19.5M	18.3M	18.3M
Operating Income	-	-	-	-180M	-189M
Investment Funds
Morningstar Retirement	-	-	110M	127M	138M
D&A	-	-	11M	10M	10.4M
Operating Income	-	-	54.1M	65.6M	67.7M

Geographical breakdown of sales (USD)

Fiscal Period: December	2021	2022	2023	2024	2025
United States	1.18B	1.35B	1.47B	1.64B	1.75B
Total Assets	222M	286M	279M	282M	254M
Continental Europe	159M	163M	186M	204M	220M
Total Assets	25.9M	27M	24.6M	24.4M	22.8M
United Kingdom	136M	134M	148M	167M	190M
Total Assets	20.8M	26M	24.1M	20.8M	13.9M
Canada	113M	110M	116M	140M	155M
Total Assets	10.9M	10M	11.8M	14.3M	25.7M
Australia	56.9M	55.8M	58.4M	62.4M	65.3M
Total Assets	7.7M	6.2M	5.1M	4M	2.6M
Asia	41.1M	44.8M	49.3M	49.6M	48M
Total Assets	32.9M	35.4M	26.4M	53.8M	71.5M
Other	9.3M	9.8M	10.5M	12.7M	13M
Total Assets	800K	800K	400K	400K	900K