Morningstar (MORN) EBITDA Margin (2009 - 2026)
Morningstar (MORN) reported EBITDA Margin of 32.81% for Q3 2026, up 4.50 percentage points from 28.31% a year earlier and up 0.52 percentage points from the prior quarter.
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Analysis
Morningstar (MORN) EBITDA Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Morningstar's EBITDA Margin came in at 32.39%, up 2.06 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 Q3 2026 figure ranks as the highest quarterly EBITDA Margin since Q4 2024.
- Year over year, EBITDA Margin has now increased in each of the last three quarters, with an average year-over-year change of +2.72 percentage points over the last eight quarters.
- 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 Q3 2026 came in at 32.28% (Q2 2026), 32.20% (Q1 2026) and 32.24% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 136.14 Bn | 125.99 Bn | 2.64 Bn | 59.38% |
| 2 | Moodys | 87.37 Bn | 80.29 Bn | 1.50 Bn | 50.91% |
| 3 | Msci | 46.53 Bn | 45.01 Bn | 739.80 Mn | 62.30% |
| 4 | Verisk Analytics | 25.76 Bn | 20.40 Bn | 572.90 Mn | 55.24% |
| 5 | Equifax | 21.57 Bn | 20.84 Bn | 940.10 Mn | 32.60% |
| 6 | TransUnion | 15.42 Bn | 12.11 Bn | - | 32.85% |
| 7 | Factset Research Systems | 11.51 Bn | 10.36 Bn | 308.40 Mn | 32.10% |
| 8 | Morningstar | 9.02 Bn | 6.91 Bn | 431.40 Mn | 32.81% |
| 9 | Mastercard | 571.76 Bn | 531.85 Bn | - | 70.44% |
| 10 | Cme | 109.34 Bn | 97.67 Bn | - | 70.50% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 32.81% |
| 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% |
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();