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.

• Cost of Revenue for Q1 2026 came in at $238.9 million, up 112.17% year-over-year; the trailing twelve-month figure through Mar 2026 was $834.2 million (up 22.89% YoY), and the FY2025 annual result was $952.9 million, up 6.39% from the prior year.
• Cost of Revenue fell to $238.9 million in Q1 2026 per MORN's latest filing, from $249.2 million in the prior quarter.
• Over five years, Cost of Revenue peaked at $249.2 million in Q4 2025 and troughed at -$227.8 million in Q4 2022.
• A 5-year average of $134.5 million and a median of $112.6 million in 2025 frame the typical range for Cost of Revenue.
• On a YoY basis, Cost of Revenue climbed as much as 197.14% in 2022 and fell as far as 220.15% in 2022.
• A 5-year view of Cost of Revenue shows it stood at -$227.8 million in 2022, then surged by 190.17% to $205.4 million in 2023, then climbed by 13.05% to $232.2 million in 2024, then rose by 7.32% to $249.2 million in 2025, then slipped by 4.13% to $238.9 million in 2026.
• Business Quant data shows MORN's Cost of Revenue at $238.9 million in Q1 2026, $249.2 million in Q4 2025, and $115.5 million in Q3 2025.