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.

• On a quarterly basis, Cost of Revenue rose 3.24% year-over-year to $238.9 million in Q1 2026; TTM through Mar 2026 was $960.4 million, a 5.65% increase from a year earlier, with the FY2025 full-year figure at $952.9 million, up 6.39% from the prior year.
• Cost of Revenue for Q1 2026 stood at $238.9 million, down from $249.2 million in the prior quarter.
• Over the last five years, Cost of Revenue for MORN reached as high as $249.2 million in Q4 2025 and fell as low as $191.3 million in Q1 2022.
• Historically, Cost of Revenue has averaged $218.3 million across 5 years, with a median of $218.8 million in 2023.
• Across the five-year window, Cost of Revenue increased 21.61% in 2022 and slipped 0.32% in 2024, its largest moves.
• Year by year, Cost of Revenue stood at $195.0 million in 2022, then gained by 5.33% to $205.4 million in 2023, then rose by 13.05% to $232.2 million in 2024, then climbed by 7.32% to $249.2 million in 2025, then fell by 4.13% to $238.9 million in 2026.
• Per Business Quant data, the three most recent Cost of Revenue figures were $238.9 million in Q1 2026, $249.2 million in Q4 2025, and $241.7 million in Q3 2025.