MORN · XBRL financial data

Morningstar financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (MORN's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue	1,390	1,699	1,871	2,039	2,275	2,446
Revenue from contracts with customers	1,390	1,699	1,871	2,039	2,275	2,446
Cost of goods and services sold	556	698	779	844	896	953
General and administrative	272	318	400	356	327	334
Other operating income (expense)	—	—	—	(16)	64	25
Operating income (loss)	215	257	168	231	485	527
Other income (expense)	(6)	(4)	(7)	12	(5)	1
Income tax expense (benefit)	60	63	57	33	104	122
Earnings per share, basic USD per share	5.22	4.50	1.65	3.31	8.64	8.93
Earnings per share, diluted USD per share	5.18	4.45	1.64	3.29	8.58	8.87
Weighted average shares, basic millions of shares	43	43	43	43	43	42
Weighted average shares, diluted millions of shares	43	43	43	43	43	42

Fiscal years (MORN's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	423	484	377	338	503	475
Marketable securities	42	62	38	51	48	54
Accounts receivable	205	269	308	344	358	390
Total current assets	730	888	811	816	1,014	1,038
Property and equipment, net	155	172	199	208	219	232
Right-of-use asset	148	149	192	164	181	159
Goodwill	1,205	1,207	1,572	1,579	1,562	1,611
Total assets	2,696	2,863	3,475	3,403	3,549	3,590
Current portion of long-term debt	0	—	—	—	—	—
Total current liabilities	627	784	883	881	967	1,053
Long-term debt	449	359	1,110	972	699	1,073
Lease liability, non-current	138	136	177	151	170	147
Total liabilities	1,425	1,447	2,268	2,076	1,930	2,368
Retained earnings	1,389	1,527	1,535	1,611	1,909	2,206
Total liabilities and equity	2,696	2,863	3,475	3,403	3,549	3,590
Common shares outstanding (cover page) millions of shares	43	43	42	43	43	40

Fiscal years (MORN's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Stock-based compensation	37	42	83	53	55	56
Depreciation and amortization	140	151	167	185	190	190
Net cash from operating activities	384	450	298	316	592	590
Purchases of property and equipment	77	102	130	119	143	147
Net cash from investing activities	(124)	(168)	(799)	(82)	(21)	(139)
Share repurchases	42	1	226	1	12	787
Dividends paid	51	54	62	64	69	77
Net cash from financing activities	182	212	415	(278)	(384)	(515)
Net change in cash	88	61	(107)	(39)	165	(28)

SIC 6282 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 6282 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
Morningstar	497	672	191*	37.1M	Q3 FY26 10-QSep 30, 2026
TPG	800	713	249*	not reported	Q3 FY26 10-QSep 30, 2026
Evercore	1,257	998	526*	not reported	Q2 FY26 10-QJun 30, 2026
Houlihan Lokey	837	692	252*	not reported	Q2 FY27 10-QSep 30, 2026
Janus Henderson Group	1,381	not reported	235	154.1M	Q1 FY26 10-QMar 31, 2026
Franklin Templeton	3,761	2,358	581*	508.1M	Q3 FY26 10-QJun 30, 2026
Invesco	966	1,873	475*	439.5M	Q3 FY26 10-QSep 30, 2026
Blue Owl Capital	214	807	609*	not reported	Q3 FY26 10-QSep 30, 2026
Hamilton Lane	348	204	28*	not reported	Q2 FY27 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.