Morningstar (MORN) Change in Taxes (2009 - 2026)
Morningstar's Change in Taxes was $10.5 million in Q3 2026, up 41.9% from $7.4 million a year earlier.
Powered by 
Analysis
Morningstar (MORN) Change in Taxes (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Morningstar's Change in Taxes was $16.4 million through Sep 30, 2026; for FY2025, it was -$8 million.
- In earlier years, Change in Taxes was $23.1 million in FY2024, -$7.8 million in FY2023, $18.9 million in FY2022 and -$6.1 million in FY2021.
- Quarterly Change in Taxes has moved between -$46.2 million (Q2 2025) and $20.3 million (Q1 2026) over five years.
- Compared with a year earlier, Change in Taxes was higher in three of the last four quarters, with growth averaging 4.0%.
- The best year-over-year quarter for Change in Taxes over five years was Q4 2022 (growth of 815.0%); the worst was Q4 2021 (a decline of 62.3%).
- Per Business Quant data, MORN's Change in Taxes in the three quarters before Q3 2026 was -$25.1 million (Q2 2026), $20.3 million (Q1 2026) and $10.7 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Change Taxes (Qtr) |
|---|---|---|---|---|---|
| 1 | Msci | 236.00 Bn | 234.48 Bn | 739.80 Mn | 13.20 Mn |
| 2 | S&P Global | 137.30 Bn | 132.50 Bn | 2.64 Bn | -27.00 Mn |
| 3 | Moodys | 87.63 Bn | 80.69 Bn | 1.50 Bn | -3.00 Mn |
| 4 | Verisk Analytics | 26.66 Bn | 22.85 Bn | 567.00 Mn | -2.90 Mn |
| 5 | Equifax | 22.03 Bn | 21.43 Bn | 940.10 Mn | - |
| 6 | TransUnion | 15.46 Bn | 12.30 Bn | - | - |
| 7 | Factset Research Systems | 11.73 Bn | 10.58 Bn | 308.40 Mn | 31.24 Mn |
| 8 | Morningstar | 9.14 Bn | 7.03 Bn | 431.40 Mn | 10.50 Mn |
| 9 | Mastercard | 572.29 Bn | 532.37 Bn | - | - |
| 10 | Cme | 113.65 Bn | 101.99 Bn | 359.20 Mn | -9.20 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 10.50 Mn |
| Jun 30, 2026 | -25.10 Mn |
| Mar 31, 2026 | 20.30 Mn |
| Dec 31, 2025 | 10.70 Mn |
| Sep 30, 2025 | 7.40 Mn |
| Jun 30, 2025 | -46.20 Mn |
| Mar 31, 2025 | 20.10 Mn |
| Dec 31, 2024 | -2.10 Mn |
| Sep 30, 2024 | 14.80 Mn |
| Jun 30, 2024 | -5.90 Mn |
| Mar 31, 2024 | 16.30 Mn |
| Dec 31, 2023 | 9.50 Mn |
| Sep 30, 2023 | 6.90 Mn |
| Jun 30, 2023 | -21.60 Mn |
| Mar 31, 2023 | -2.60 Mn |
| Dec 31, 2022 | 18.30 Mn |
| Sep 30, 2022 | 3.50 Mn |
| Jun 30, 2022 | -20.00 Mn |
| Mar 31, 2022 | 17.10 Mn |
| Dec 31, 2021 | 2.00 Mn |
API Access
Morningstar Change in Taxes API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=change-in-taxes&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "change-in-taxes", "ticker": "MORN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=change-in-taxes&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();