Morningstar, Inc. MORN revenue by segment, product and geography
In its fiscal year ending 2025-12-31, Morningstar, Inc. reported revenue across 5 business segments; the largest, Morningstar Data And Analytics Segment, was $831M, 37.0% of the filed sum (+5.4% against the prior period in the same filing).
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Morningstar Data And Analytics Segment$831M37.0%+5.4% yoy
- Pitch Book Segment$672M29.9%+8.6% yoy
- Morningstar Credit Segment$354M15.8%+21.7% yoy
- Morningstar Wealth Segment$251M11.2%+1.2% yoy
- Morningstar Retirement Segment$138M6.1%+8.3% yoy
Members sum to $2.25B against $2.45B consolidated (residual $200M) - eliminations or corporate lines the filer did not tag on this axis.
- Licensed Based$1.72B70.3%+5.8% yoy
- Transaction Based$383M15.7%+21.0% yoy
- Asset Based$343M14.0%+2.9% yoy
Members sum to the consolidated $2.45B for this period.
- United States$1.75Bshare n/a+7.1% yoy
- Outside the United States$691Mshare n/a+8.5% yoy
- Europe Excluding United Kingdom$220Mshare n/a+7.8% yoy
- United Kingdom$190Mshare n/a+13.4% yoy
- Canada$155Mshare n/a+10.3% yoy
- Australia$65.3Mshare n/a+4.6% yoy
- Asia$48Mshare n/a-3.2% yoy
- Segment Geographical Group Of Other Countries$13Mshare n/a+2.4% yoy
member sum exceeds the consolidated figure: this axis carries more than one breakdown, so shares are not computed.
- Morningstar Data And Analytics Segment$222M37.0%+6.2% yoy
- Pitch Book Segment$175M29.1%+4.9% yoy
- Morningstar Wealth Segment$105M17.5%+23.4% yoy
- Morningstar Credit Segment$60.3M10.1%-6.2% yoy
- Morningstar Retirement Segment$37.9M6.3%+17.0% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
About these figures
Companies tag segment, product and geographic revenue as dimensional XBRL facts in their 10-K and 10-Q filings. The SEC publishes those facts in its DERA Financial Statement and Notes data sets; TrendNalysis ingests each monthly file and serves the facts exactly as filed, keyed to the accession of the filing. Shares are of the filed sum. Where a filer tags more than one breakdown on one axis, the sum exceeds consolidated revenue and no shares are computed; where the members do not add up to the consolidated figure, the residual is stated rather than hidden. Missing is never zero.
Descriptive and educational; not investment advice. Methodology and data lineage.