Morningstar (MORN) EV to CFO (2010 - 2026)
Morningstar's EV to CFO came in at 10.17 for Q3 2026, down 39.9% from 16.91 a year earlier but up 23.4% from the prior quarter.
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Analysis
Morningstar (MORN) EV to CFO (2010 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Morningstar reported EV to CFO of 7.70, down 44.4% 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 five-year range for quarterly EV to CFO is 8.24 (Q2 2026) to 37.43 (Q4 2023).
- Year-over-year, EV to CFO has declined for ten consecutive quarters, with an average decline of 37.3% over the last eight quarters.
- The fastest year-over-year change in EV to CFO over five years came in Q3 2023 (growth of 31.0%), and the weakest in Q2 2026 (a decline of 65.3%).
- Business Quant data shows MORN's EV to CFO at 8.24 (Q2 2026), 9.99 (Q1 2026) and 13.75 (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | S&P Global | 136.14 Bn | 125.99 Bn | 2.64 Bn |
| 2 | Moodys | 87.37 Bn | 80.29 Bn | 1.50 Bn |
| 3 | Msci | 46.53 Bn | 45.01 Bn | 739.80 Mn |
| 4 | Verisk Analytics | 25.76 Bn | 20.40 Bn | 572.90 Mn |
| 5 | Equifax | 21.57 Bn | 20.84 Bn | 940.10 Mn |
| 6 | TransUnion | 15.42 Bn | 12.11 Bn | - |
| 7 | Factset Research Systems | 11.51 Bn | 10.36 Bn | 308.40 Mn |
| 8 | Morningstar | 9.02 Bn | 6.91 Bn | 431.40 Mn |
| 9 | Mastercard | 571.76 Bn | 531.85 Bn | - |
| 10 | Cme | 109.34 Bn | 97.67 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 10.17 |
| 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 |
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();