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Ratios
Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioGross MarginInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

Morningstar (MORN) Gross Margin (2016 - 2025)

Morningstar (MORN) has disclosed Gross Margin for 17 consecutive years, with 81.41% as the latest value for Q4 2025.

  • On a quarterly basis, Gross Margin rose 2070.0% to 81.41% in Q4 2025 year-over-year; TTM through Dec 2025 was 80.9%, a 2517.0% increase, with the full-year FY2025 number at 80.9%, up 2027.0% from a year prior.
  • Gross Margin was 81.41% for Q4 2025 at Morningstar, down from 118.5% in the prior quarter.
  • In the past five years, Gross Margin ranged from a high of 139.78% in Q4 2023 to a low of 18.33% in Q3 2023.
  • A 5-year average of 70.11% and a median of 61.48% in 2024 define the central range for Gross Margin.
  • Peak YoY movement for Gross Margin: crashed -7907bps in 2024, then soared 9711bps in 2025.
  • Morningstar's Gross Margin stood at 84.1% in 2021, then fell by -30bps to 58.95% in 2022, then surged by 137bps to 139.78% in 2023, then tumbled by -57bps to 60.71% in 2024, then surged by 34bps to 81.41% in 2025.
  • Per Business Quant, the three most recent readings for MORN's Gross Margin are 81.41% (Q4 2025), 118.5% (Q3 2025), and 61.89% (Q2 2025).