Morningstar (MORN) Gross Margin (2009 - 2026)
Morningstar (MORN) reported Gross Margin of 62.95% for Q1 2026, down 1770.0% year-over-year from 3.77% in Q1 2025, and up 2.98% on a QoQ basis from 61.13% in Q4 2025.
Morningstar (MORN) has 18 years of Gross Margin data on file, last reported at 62.95% in Q1 2026.
- Quarterly Gross Margin fell 1770.0% year-over-year to 62.95% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 66.74% (down 392.0% YoY) and the FY2025 annual result came in at 61.03%, up 40.0% from the prior year.
- Gross Margin grew to 62.95% in Q1 2026 per MORN's latest filing, from 61.13% in the prior quarter.
- Across five years, Gross Margin topped out at 147.96% in Q4 2022 and bottomed at 57.99% in Q2 2022.
- The 5-year median for Gross Margin is 78.3% (2023), against an average of 76.29%.
- The widest annual swing landed in 2022, when Gross Margin jumped 8898 bps; it then plunged 8609 bps in 2023.
- Tracing MORN's Gross Margin over 5 years: stood at 147.96% in 2022, then plunged by 58 bps to 61.87% in 2023, then slipped by 2 bps to 60.71% in 2024, then increased by 1 bps to 61.13% in 2025, then gained by 3 bps to 62.95% in 2026.
- Per Business Quant, the three latest MORN Gross Margin figures stand at 62.95% (Q1 2026), 61.13% (Q4 2025), and 81.29% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 126.06 Bn | 129.16 Bn | 2.94 Bn | 70.39% |
| 2 | Cme | 98.29 Bn | 98.29 Bn | 1.83 Bn | 97.21% |
| 3 | Intercontinental Exchange | 83.83 Bn | 82.37 Bn | - | - |
| 4 | Moodys | 80.13 Bn | 78.77 Bn | 1.55 Bn | 74.46% |
| 5 | Nasdaq | 52.44 Bn | 51.76 Bn | 1.41 Bn | 65.84% |
| 6 | Coinbase Global | 50.05 Bn | 49.52 Bn | 1.33 Bn | 94.06% |
| 7 | Msci | 46.28 Bn | 45.89 Bn | 765.10 Mn | 89.93% |
| 8 | Cboe Global Markets | 34.92 Bn | 32.75 Bn | 728.90 Mn | 57.27% |
| 9 | TransUnion | 13.79 Bn | 13.22 Bn | 726.20 Mn | 58.30% |
| 10 | Morningstar | 7.12 Bn | 6.58 Bn | 405.90 Mn | 62.95% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 62.95% |
| Dec 31, 2025 | 61.13% |
| Sep 30, 2025 | 81.29% |
| Jun 30, 2025 | 61.89% |
| Mar 31, 2025 | 80.65% |
| Dec 31, 2024 | 60.71% |
| Sep 30, 2024 | 60.89% |
| Jun 30, 2024 | 80.54% |
| Mar 31, 2024 | 80.73% |
| Dec 31, 2023 | 61.87% |
| Sep 30, 2023 | 79.38% |
| Jun 30, 2023 | 78.30% |
| Mar 31, 2023 | 77.57% |
| Dec 31, 2022 | 147.96% |
| Sep 30, 2022 | 80.84% |
| Jun 30, 2022 | 57.99% |
| Mar 31, 2022 | 82.19% |
| Dec 31, 2021 | 58.98% |
| Sep 30, 2021 | 83.00% |
| Jun 30, 2021 | 83.99% |
| Mar 31, 2021 | 59.95% |
| Dec 31, 2020 | 85.36% |
| Sep 30, 2020 | 61.17% |
| Jun 30, 2020 | 85.61% |
| Mar 31, 2020 | 84.29% |
| Dec 31, 2019 | -6.32% |
| Sep 30, 2019 | 85.98% |
| Jun 30, 2019 | 60.75% |
| Mar 31, 2019 | 84.55% |
| Dec 31, 2018 | 86.75% |
| Sep 30, 2018 | 86.30% |
| Jun 30, 2018 | 84.39% |
| Mar 31, 2018 | 84.19% |
| Dec 31, 2017 | 85.97% |
| Sep 30, 2017 | 60.46% |
| Jun 30, 2017 | 58.42% |
| Mar 31, 2017 | 84.53% |
| Dec 31, 2016 | 174.79% |
| Sep 30, 2016 | 56.71% |
| Jun 30, 2016 | 56.56% |
| Mar 31, 2016 | 55.60% |
| Dec 31, 2015 | 88.69% |
| Sep 30, 2015 | 88.07% |
| Jun 30, 2015 | 87.58% |
| Mar 31, 2015 | 58.54% |
| Dec 31, 2014 | 164.31% |
| Sep 30, 2014 | 86.12% |
| Jun 30, 2014 | 56.97% |
| Mar 31, 2014 | 84.33% |
| Dec 31, 2013 | -6.71% |
| Sep 30, 2013 | 86.87% |
| Jun 30, 2013 | 63.27% |
| Mar 31, 2013 | 63.49% |
| Dec 31, 2012 | 3.08% |
| Sep 30, 2012 | 84.01% |
| Jun 30, 2012 | 70.20% |
| Mar 31, 2012 | 68.70% |
| Dec 31, 2011 | 117.17% |
| Sep 30, 2011 | 69.96% |
| Jun 30, 2011 | 71.94% |
| Mar 31, 2011 | 73.20% |
| Dec 31, 2010 | 83.07% |
| Sep 30, 2010 | 70.88% |
| Jun 30, 2010 | 82.05% |
| Mar 31, 2010 | 82.41% |
| Dec 31, 2009 | 84.92% |
| Sep 30, 2009 | 73.39% |
| Jun 30, 2009 | 84.93% |