Morningstar (MORN) Gross Margin (2009 - 2026)
Morningstar (MORN) posted quarterly Gross Margin of 63.92% for Q2 2026, up 203.0% year-over-year from 21.09% in Q2 2025, and up 1.54% quarter-over-quarter from 62.95% in Q1 2026.
Morningstar (MORN) Gross Margin (2009 - 2026) Analysis & Trends
Morningstar (MORN) has reported Gross Margin for 18 consecutive years, with 63.92% the latest figure, recorded in Q2 2026.
- In Q2 2026, Gross Margin rose 203.0% year-over-year to 63.92%; the TTM figure through Jun 2026 stood at 62.24% (up 130.0% YoY), while the FY2025 annual figure was 61.03%, up 40.0% from the prior year.
- Gross Margin advanced to 63.92% in Q2 2026 per MORN's latest filing, from 62.95% in the prior quarter.
- Across five years, Gross Margin topped out at 63.92% in Q2 2026 and bottomed at 54.39% in Q1 2023.
- Historically, Gross Margin has averaged 60.05% across 5 years, with a median of 60.68% in 2023.
- Annual changes were most pronounced in 2023 — Gross Margin slumped 375 bps — and 2024, when it soared 543 bps.
- Morningstar's Gross Margin stood at 58.95% in 2022, then grew by 5 bps to 61.87% in 2023, then fell by 2 bps to 60.71% in 2024, then advanced by 1 bps to 61.13% in 2025, then gained by 5 bps to 63.92% in 2026.
- Business Quant data shows MORN's Gross Margin at 63.92% in Q2 2026, 62.95% in Q1 2026, and 61.13% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 128.16 Bn | 124.02 Bn | 2.98 Bn | 71.90% |
| 2 | Cme | 98.56 Bn | 98.56 Bn | 1.65 Bn | 96.49% |
| 3 | Intercontinental Exchange | 91.19 Bn | 89.24 Bn | - | - |
| 4 | Moodys | 88.16 Bn | 86.66 Bn | 1.67 Bn | 76.29% |
| 5 | Nasdaq | 55.38 Bn | 54.67 Bn | 1.50 Bn | 59.24% |
| 6 | Coinbase Global | 50.19 Bn | 41.40 Bn | 1.16 Bn | 95.11% |
| 7 | Msci | 41.45 Bn | 41.09 Bn | 717.10 Mn | 82.71% |
| 8 | Cboe Global Markets | 31.31 Bn | 28.92 Bn | 731.60 Mn | 50.71% |
| 9 | TransUnion | 16.57 Bn | 15.73 Bn | 765.00 Mn | 58.41% |
| 10 | Morningstar | 8.19 Bn | 7.67 Bn | 423.90 Mn | 63.92% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 63.92% |
| Mar 31, 2026 | 62.95% |
| Dec 31, 2025 | 61.13% |
| Sep 30, 2025 | 60.85% |
| Jun 30, 2025 | 61.89% |
| Mar 31, 2025 | 60.23% |
| Dec 31, 2024 | 60.71% |
| Sep 30, 2024 | 60.89% |
| Jun 30, 2024 | 61.06% |
| Mar 31, 2024 | 59.82% |
| Dec 31, 2023 | 61.87% |
| Sep 30, 2023 | 60.64% |
| Jun 30, 2023 | 57.12% |
| Mar 31, 2023 | 54.39% |
| Dec 31, 2022 | 58.95% |
| Sep 30, 2022 | 58.27% |
| Jun 30, 2022 | 57.99% |
| Mar 31, 2022 | 58.14% |
| Dec 31, 2021 | 58.98% |
| Sep 30, 2021 | 57.31% |