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Morningstar (MORN) Operating Expenses (2016 - 2025)

Morningstar (MORN) has disclosed Operating Expenses for 17 consecutive years, with $505.1 million as the latest value for Q4 2025.

  • On a quarterly basis, Operating Expenses rose 3.76% to $505.1 million in Q4 2025 year-over-year; TTM through Dec 2025 was $1.9 billion, a 4.83% increase, with the full-year FY2025 number at $1.9 billion, up 4.83% from a year prior.
  • Operating Expenses was $505.1 million for Q4 2025 at Morningstar, up from $490.1 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $505.1 million in Q4 2025 to a low of $325.6 million in Q1 2021.
  • A 5-year average of $437.6 million and a median of $448.2 million in 2022 define the central range for Operating Expenses.
  • Peak YoY movement for Operating Expenses: surged 38.11% in 2021, then fell 1.1% in 2024.
  • Morningstar's Operating Expenses stood at $387.4 million in 2021, then increased by 13.45% to $439.5 million in 2022, then grew by 1.09% to $444.3 million in 2023, then rose by 9.57% to $486.8 million in 2024, then grew by 3.76% to $505.1 million in 2025.
  • Per Business Quant, the three most recent readings for MORN's Operating Expenses are $505.1 million (Q4 2025), $490.1 million (Q3 2025), and $480.8 million (Q2 2025).