Morningstar (MORN) FCF Margin (2009 - 2026)
Morningstar (MORN) reported FCF Margin of 23.12% for Q3 2026, down 2.81 percentage points from 25.93% a year earlier but up 4.65 percentage points from the prior quarter.
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Analysis
Morningstar (MORN) FCF Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Morningstar's FCF Margin came in at 18.80%, up 2.35 percentage points year-over-year; for FY2025, it was 18.10%, down 1.63 percentage points from FY2024.
- FCF Margin has a five-year change of -4.04 percentage points (FY2020 to FY2025).
- By year, FCF Margin came in at 19.73% in FY2024 (+10.05 pp), 9.68% in FY2023 (+0.68 pp), 9.00% in FY2022 (-11.49 pp) and 20.48% in FY2021 (-1.65 pp).
- Five-year quarterly FCF Margin spans a low of -1.27% in Q1 2023 and a high of 27.36% in Q3 2024.
- Year over year, FCF Margin gained in two of the last eight quarters, with an average year-over-year change of -0.55 percentage points.
- The high point for year-over-year FCF Margin in five years was Q2 2024 (a gain of 22.27 percentage points); the low point was Q2 2022 (a drop of 18.25 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 18.47% (Q2 2026), 8.31% (Q1 2026) and 25.16% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Msci | 235.55 Bn | 234.03 Bn | 739.80 Mn | 47.39% |
| 2 | S&P Global | 137.22 Bn | 132.42 Bn | 2.64 Bn | 31.46% |
| 3 | Moodys | 88.04 Bn | 81.11 Bn | 1.50 Bn | 33.02% |
| 4 | Verisk Analytics | 26.17 Bn | 22.36 Bn | 567.00 Mn | 24.72% |
| 5 | Equifax | 22.05 Bn | 21.44 Bn | 940.10 Mn | 25.81% |
| 6 | TransUnion | 15.64 Bn | 12.48 Bn | - | 27.63% |
| 7 | Factset Research Systems | 11.49 Bn | 10.35 Bn | 308.40 Mn | 27.94% |
| 8 | Morningstar | 9.15 Bn | 7.04 Bn | 431.40 Mn | 23.12% |
| 9 | Mastercard | 570.55 Bn | 530.63 Bn | - | 49.61% |
| 10 | Cme | 110.48 Bn | 98.81 Bn | 359.20 Mn | 61.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 23.12% |
| Jun 30, 2026 | 18.47% |
| Mar 31, 2026 | 8.31% |
| Dec 31, 2025 | 25.16% |
| Sep 30, 2025 | 25.93% |
| Jun 30, 2025 | 10.31% |
| Mar 31, 2025 | 10.10% |
| Dec 31, 2024 | 19.09% |
| Sep 30, 2024 | 27.36% |
| Jun 30, 2024 | 21.12% |
| Mar 31, 2024 | 10.96% |
| Dec 31, 2023 | 20.01% |
| Sep 30, 2023 | 19.67% |
| Jun 30, 2023 | -1.15% |
| Mar 31, 2023 | -1.27% |
| Dec 31, 2022 | 14.19% |
| Sep 30, 2022 | 14.61% |
| Jun 30, 2022 | 7.87% |
| Mar 31, 2022 | -0.98% |
| Dec 31, 2021 | 22.87% |
API Access
Morningstar FCF 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=fcf-margin&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-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=fcf-margin&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();