Morningstar (MORN) EBITDA Margin (2009 - 2026)
Morningstar (MORN) reported EBITDA Margin of 32.28% for Q2 2026, up 3.59 percentage points from 28.69% a year earlier and up 0.09 percentage points from the prior quarter.
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Analysis
Morningstar (MORN) EBITDA Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Morningstar's EBITDA Margin came in at 31.30%, up 0.93 percentage points year-over-year; for FY2025, it was 29.30%, down 0.38 percentage points from FY2024.
- EBITDA Margin has a five-year change of +3.77 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at 29.68% in FY2024 (+9.30 pp), 20.38% in FY2023 (+2.51 pp), 17.88% in FY2022 (-6.12 pp) and 23.99% in FY2021 (-1.53 pp).
- The Q2 2026 figure ranks as the highest quarterly EBITDA Margin since Q4 2024.
- Year over year, EBITDA Margin gained in six of the last eight quarters, with an average year-over-year change of +2.87 percentage points.
- The high point for year-over-year EBITDA Margin in five years was Q1 2024 (a gain of 11.31 percentage points); the low point was Q3 2022 (a drop of 10.55 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 32.20% (Q1 2026), 32.24% (Q4 2025) and 28.31% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 115.73 Bn | 111.34 Bn | 2.98 Bn | 51.11% |
| 2 | Moodys | 78.77 Bn | 71.20 Bn | 1.67 Bn | 53.64% |
| 3 | Msci | 39.23 Bn | 37.58 Bn | 717.10 Mn | 62.00% |
| 4 | Verisk Analytics | 21.59 Bn | 16.23 Bn | 572.90 Mn | 55.10% |
| 5 | Equifax | 16.56 Bn | 15.96 Bn | 926.40 Mn | 29.74% |
| 6 | TransUnion | 12.32 Bn | 9.30 Bn | - | 31.96% |
| 7 | Factset Research Systems | 9.30 Bn | 8.06 Bn | 310.73 Mn | 34.06% |
| 8 | Morningstar | 6.99 Bn | 4.89 Bn | 423.90 Mn | 32.28% |
| 9 | Mastercard | 490.78 Bn | 450.70 Bn | - | 70.99% |
| 10 | Cme | 94.57 Bn | 94.57 Bn | - | 69.82% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.28% |
| Mar 31, 2026 | 32.20% |
| Dec 31, 2025 | 32.24% |
| Sep 30, 2025 | 28.31% |
| Jun 30, 2025 | 28.69% |
| Mar 31, 2025 | 27.74% |
| Dec 31, 2024 | 36.65% |
| Sep 30, 2024 | 28.31% |
| Jun 30, 2024 | 27.56% |
| Mar 31, 2024 | 25.76% |
| Dec 31, 2023 | 26.16% |
| Sep 30, 2023 | 22.62% |
| Jun 30, 2023 | 17.57% |
| Mar 31, 2023 | 14.45% |
| Dec 31, 2022 | 16.91% |
| Sep 30, 2022 | 14.14% |
| Jun 30, 2022 | 19.96% |
| Mar 31, 2022 | 20.57% |
| Dec 31, 2021 | 24.49% |
| Sep 30, 2021 | 24.69% |
API Access
Morningstar EBITDA Margin 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-margin&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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-margin&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();