Morningstar (MORN) Operating Expenses (2009 - 2026)

Morningstar (MORN) has 18 years of Operating Expenses data on file, last reported at $489.8 million in Q1 2026.

• Quarterly Operating Expenses rose 4.7% year-over-year to $489.8 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $2.0 billion (up 5.02% YoY) and the FY2025 annual result came in at $1.9 billion, up 4.83% from the prior year.
• Operating Expenses eased to $489.8 million in Q1 2026 per MORN's latest filing, from $505.1 million in the prior quarter.
• Across five years, Operating Expenses topped out at $505.1 million in Q4 2025 and bottomed at $400.6 million in Q1 2022.
• The 5-year median for Operating Expenses is $455.2 million (2023), against an average of $458.7 million.
• The widest annual swing landed in 2022, when Operating Expenses increased 23.57%; it then dropped 1.1% in 2024.
• Tracing MORN's Operating Expenses over 5 years: stood at $439.5 million in 2022, then gained by 1.09% to $444.3 million in 2023, then climbed by 9.57% to $486.8 million in 2024, then gained by 3.76% to $505.1 million in 2025, then decreased by 3.03% to $489.8 million in 2026.
• Per Business Quant, the three latest MORN Operating Expenses figures stand at $489.8 million (Q1 2026), $505.1 million (Q4 2025), and $490.1 million (Q3 2025).

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