Morningstar (MORN) EV to EBITDA (2010 - 2026)
Morningstar's (MORN) EV to EBITDA stood at 7.69 in Q3 2026, down 38.7% from 12.55 a year earlier but up 15.9% 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 5.82 as of Sep 30, 2026, down 43.3% 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%).
- Quarterly EV to EBITDA has ranged from 6.63 in Q2 2026 to 34.84 in Q4 2021 over the past five years.
- On a year-over-year basis, EV to EBITDA has declined for 11 consecutive quarters, with an average decline of 40.7% over the last eight quarters.
- Peak year-over-year performance for EV to EBITDA in the last five years was growth of 30.5% in Q4 2021, against a decline of 62.8% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 6.63 (Q2 2026), 7.73 (Q1 2026) and 11.32 (Q4 2025).
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 | 7.69 |
| 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 |
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();