Morningstar (MORN) Cost of Revenue (2009 - 2026)

Morningstar (MORN) has reported Cost of Revenue for 18 consecutive years, with $239.3 million the latest figure, recorded in Q2 2026.

• In Q2 2026, Cost of Revenue rose 3.77% year-over-year to $239.3 million; the TTM figure through Jun 2026 stood at $969.1 million (up 5.69% YoY), while the FY2025 annual figure was $952.9 million, up 6.39% from the prior year.
• Cost of Revenue steadied at $239.3 million in Q2 2026 per MORN's latest filing, from $238.9 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $249.2 million in Q4 2025 and bottomed at $191.3 million in Q1 2022.
• Historically, Cost of Revenue has averaged $219.4 million across 5 years, with a median of $220.8 million in 2023.
• Annual changes were most pronounced in 2022 — Cost of Revenue gained 21.61% — and 2024, when it declined 0.32%.
• Morningstar's Cost of Revenue stood at $195.0 million in 2022, then increased by 5.33% to $205.4 million in 2023, then grew by 13.05% to $232.2 million in 2024, then gained by 7.32% to $249.2 million in 2025, then fell by 3.97% to $239.3 million in 2026.
• Business Quant data shows MORN's Cost of Revenue at $239.3 million in Q2 2026, $238.9 million in Q1 2026, and $249.2 million in Q4 2025.