Morningstar (MORN) EBITDA (2009 - 2026)
Morningstar's EBITDA came in at $214.1 million for Q2 2026, up 23.3% from $173.6 million a year earlier and up 3.1% from the prior quarter.
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Analysis
Morningstar (MORN) EBITDA (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Morningstar reported EBITDA of $803.2 million, up 12.7% year-over-year; for FY2025, it came in at $716.5 million, up 6.1% from FY2024.
- EBITDA has increased in each of the last three years, with a five-year compound annual growth rate of 15.1% (FY2020 to FY2025).
- Going back by year, EBITDA was $675.2 million in FY2024 (+62.5%), $415.5 million in FY2023 (+24.3%), $334.4 million in FY2022 (-18.0%) and $407.7 million in FY2021 (+14.9%).
- The Q2 2026 figure represents the highest quarterly EBITDA since Q4 2024.
- Year-over-year, EBITDA increased in seven of the last eight quarters, with growth averaging 21.7%.
- The fastest year-over-year change in EBITDA over five years came in Q1 2024 (growth of 101.7%), and the weakest in Q3 2022 (a decline of 37.5%).
- Business Quant data shows MORN's EBITDA at $207.6 million (Q1 2026), $206.7 million (Q4 2025) and $174.8 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 128.75 Bn | 119.33 Bn | 2.98 Bn | 2.12 Bn |
| 2 | Moodys | 83.78 Bn | 76.07 Bn | 1.67 Bn | 1.17 Bn |
| 3 | Msci | 42.70 Bn | 41.05 Bn | 717.10 Mn | 539.40 Mn |
| 4 | Verisk Analytics | 25.24 Bn | 19.87 Bn | 572.90 Mn | 445.40 Mn |
| 5 | Equifax | 20.89 Bn | 20.16 Bn | 926.40 Mn | 505.60 Mn |
| 6 | TransUnion | 15.05 Bn | 11.87 Bn | - | 418.50 Mn |
| 7 | Factset Research Systems | 11.27 Bn | 10.04 Bn | 310.73 Mn | 212.17 Mn |
| 8 | Morningstar | 8.01 Bn | 5.91 Bn | 423.90 Mn | 214.10 Mn |
| 9 | Mastercard | 549.67 Bn | 509.60 Bn | - | 6.59 Bn |
| 10 | Cme | 106.68 Bn | 94.77 Bn | - | 1.19 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 214.10 Mn |
| Mar 31, 2026 | 207.60 Mn |
| Dec 31, 2025 | 206.70 Mn |
| Sep 30, 2025 | 174.80 Mn |
| Jun 30, 2025 | 173.60 Mn |
| Mar 31, 2025 | 161.40 Mn |
| Dec 31, 2024 | 216.60 Mn |
| Sep 30, 2024 | 161.20 Mn |
| Jun 30, 2024 | 157.60 Mn |
| Mar 31, 2024 | 139.80 Mn |
| Dec 31, 2023 | 140.90 Mn |
| Sep 30, 2023 | 116.60 Mn |
| Jun 30, 2023 | 88.70 Mn |
| Mar 31, 2023 | 69.30 Mn |
| Dec 31, 2022 | 80.30 Mn |
| Sep 30, 2022 | 66.20 Mn |
| Jun 30, 2022 | 93.90 Mn |
| Mar 31, 2022 | 94.00 Mn |
| Dec 31, 2021 | 113.20 Mn |
| Sep 30, 2021 | 105.90 Mn |
API Access
Morningstar EBITDA 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=ebitda&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda", "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=ebitda&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();