Morningstar (MORN) EV to EBITDA (2010 - 2026)
Morningstar's (MORN) EV to EBITDA stood at 6.63 in Q2 2026, down 62.8% from 17.82 a year earlier and down 14.2% from the prior quarter.
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Analysis
Morningstar (MORN) EV to EBITDA (2010 - 2026) Analysis & Trends
On a TTM basis, Morningstar's EV to EBITDA came in at 4.67 as of Jun 30, 2026, down 69.7% year-over-year; for FY2025, it came in at 11.32, down 45.0% from FY2024.
- Across earlier years, EV to EBITDA came in at 20.57 in FY2024 (-27.8%), 28.50 in FY2023 (+8.5%), 26.27 in FY2022 (-24.6%) and 34.84 in FY2021 (+30.5%).
- The Q2 2026 figure is the lowest quarterly EV to EBITDA in data going back to Q1 2010.
- On a year-over-year basis, EV to EBITDA has declined for ten consecutive quarters, with an average decline of 38.3% over the last eight quarters.
- Peak year-over-year performance for EV to EBITDA in the last five years was growth of 35.8% in Q3 2021, against a decline of 62.8% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 7.73 (Q1 2026), 11.32 (Q4 2025) and 12.55 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | S&P Global | 115.73 Bn | 111.34 Bn | 2.98 Bn |
| 2 | Moodys | 78.77 Bn | 71.20 Bn | 1.67 Bn |
| 3 | Msci | 39.23 Bn | 37.58 Bn | 717.10 Mn |
| 4 | Verisk Analytics | 21.59 Bn | 16.23 Bn | 572.90 Mn |
| 5 | Equifax | 16.56 Bn | 15.96 Bn | 926.40 Mn |
| 6 | TransUnion | 12.32 Bn | 9.30 Bn | - |
| 7 | Factset Research Systems | 9.30 Bn | 8.06 Bn | 310.73 Mn |
| 8 | Morningstar | 6.99 Bn | 4.89 Bn | 423.90 Mn |
| 9 | Mastercard | 490.78 Bn | 450.70 Bn | - |
| 10 | Cme | 94.57 Bn | 94.57 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 6.63 |
| Mar 31, 2026 | 7.73 |
| Dec 31, 2025 | 11.32 |
| Sep 30, 2025 | 12.55 |
| Jun 30, 2025 | 17.82 |
| Mar 31, 2025 | 17.49 |
| Dec 31, 2024 | 20.57 |
| Sep 30, 2024 | 21.82 |
| Jun 30, 2024 | 22.05 |
| Mar 31, 2024 | 26.28 |
| Dec 31, 2023 | 28.50 |
| Sep 30, 2023 | 27.16 |
| Jun 30, 2023 | 26.22 |
| Mar 31, 2023 | 26.65 |
| Dec 31, 2022 | 26.27 |
| Sep 30, 2022 | 23.44 |
| Jun 30, 2022 | 24.22 |
| Mar 31, 2022 | 27.99 |
| Dec 31, 2021 | 34.84 |
| Sep 30, 2021 | 27.00 |
API Access
Morningstar EV to 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=ev-to-ebitda&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-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=ev-to-ebitda&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();