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

Morningstar (MORN) has 18 years of Cost of Revenue data on file, last reported at $238.9 million in Q1 2026.

• Quarterly Cost of Revenue rose 112.17% year-over-year to $238.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $834.2 million (up 22.89% YoY) and the FY2025 annual result came in at $952.9 million, up 6.39% from the prior year.
• Cost of Revenue retreated to $238.9 million in Q1 2026 per MORN's latest filing, from $249.2 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $249.2 million in Q4 2025 and bottomed at -$227.8 million in Q4 2022.
• The 5-year median for Cost of Revenue is $112.6 million (2025), against an average of $134.5 million.
• Peak annual rise in Cost of Revenue reached 197.14% in 2022, while the deepest fall reached 220.15% in 2022.
• Tracing MORN's Cost of Revenue over 5 years: stood at -$227.8 million in 2022, then soared by 190.17% to $205.4 million in 2023, then gained by 13.05% to $232.2 million in 2024, then grew by 7.32% to $249.2 million in 2025, then retreated by 4.13% to $238.9 million in 2026.
• Per Business Quant, the three latest MORN Cost of Revenue figures stand at $238.9 million (Q1 2026), $249.2 million (Q4 2025), and $115.5 million (Q3 2025).

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