Morningstar (MORN) EV to CFO (2010 - 2026)
Morningstar's EV to CFO came in at 8.24 for Q2 2026, down 65.3% from 23.72 a year earlier and down 17.5% from the prior quarter.
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Analysis
Morningstar (MORN) EV to CFO (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Morningstar reported EV to CFO of 5.80, down 71.7% year-over-year; for FY2025, it came in at 13.75, down 41.4% from FY2024.
- Going back by year, EV to CFO was 23.47 in FY2024 (-37.3%), 37.43 in FY2023 (+26.9%), 29.50 in FY2022 (-6.6%) and 31.58 in FY2021 (+28.1%).
- The Q2 2026 figure represents the lowest quarterly EV to CFO in data going back to Q2 2010.
- Year-over-year, EV to CFO has declined for nine consecutive quarters, with an average decline of 36.5% over the last eight quarters.
- The fastest year-over-year change in EV to CFO over five years came in Q3 2021 (growth of 34.9%), and the weakest in Q2 2026 (a decline of 65.3%).
- Business Quant data shows MORN's EV to CFO at 9.99 (Q1 2026), 13.75 (Q4 2025) and 16.91 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | S&P Global | 130.70 Bn | 121.28 Bn | 2.98 Bn |
| 2 | Moodys | 83.23 Bn | 75.52 Bn | 1.67 Bn |
| 3 | Msci | 43.45 Bn | 41.93 Bn | 739.80 Mn |
| 4 | Verisk Analytics | 25.11 Bn | 19.75 Bn | 572.90 Mn |
| 5 | Equifax | 20.31 Bn | 19.58 Bn | 940.10 Mn |
| 6 | TransUnion | 15.01 Bn | 11.83 Bn | - |
| 7 | Factset Research Systems | 11.64 Bn | 10.49 Bn | 308.40 Mn |
| 8 | Morningstar | 8.03 Bn | 5.93 Bn | 423.90 Mn |
| 9 | Mastercard | 548.09 Bn | 508.02 Bn | - |
| 10 | Cme | 106.64 Bn | 94.74 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 8.24 |
| Mar 31, 2026 | 9.99 |
| Dec 31, 2025 | 13.75 |
| Sep 30, 2025 | 16.91 |
| Jun 30, 2025 | 23.72 |
| Mar 31, 2025 | 20.69 |
| Dec 31, 2024 | 23.47 |
| Sep 30, 2024 | 22.71 |
| Jun 30, 2024 | 23.77 |
| Mar 31, 2024 | 33.04 |
| Dec 31, 2023 | 37.43 |
| Sep 30, 2023 | 34.17 |
| Jun 30, 2023 | 31.50 |
| Mar 31, 2023 | 27.72 |
| Dec 31, 2022 | 29.50 |
| Sep 30, 2022 | 26.08 |
| Jun 30, 2022 | 28.11 |
| Mar 31, 2022 | 27.22 |
| Dec 31, 2021 | 31.58 |
| Sep 30, 2021 | 24.91 |
API Access
Morningstar EV to CFO 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=ev-to-cfo&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "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=ev-to-cfo&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();