Morningstar (MORN) Operating Margin (2009 - 2026)
Morningstar (MORN) posted quarterly Operating Margin of 24.22% for Q2 2026, up 354.0% year-over-year from 5.33% in Q2 2025, and little changed quarter-over-quarter from 24.18% in Q1 2026.
Morningstar (MORN) Operating Margin (2009 - 2026) Analysis & Trends
Morningstar (MORN) has reported Operating Margin for 18 consecutive years, with 24.22% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin rose 354.0% year-over-year to 24.22%; the TTM figure through Jun 2026 stood at 23.53% (up 125.0% YoY), while the FY2025 annual figure was 21.53%, up 22.0% from the prior year.
- Operating Margin steadied at 24.22% in Q2 2026 per MORN's latest filing, from 24.18% in the prior quarter.
- Across five years, Operating Margin topped out at 28.46% in Q4 2024 and bottomed at 4.7% in Q3 2022.
- Historically, Operating Margin has averaged 16.64% across 5 years, with a median of 18.25% in 2024.
- Annual changes were most pronounced in 2022 — Operating Margin tumbled 1111 bps — and 2024, when it surged 1195 bps.
- Morningstar's Operating Margin stood at 7.47% in 2022, then jumped by 134 bps to 17.52% in 2023, then jumped by 62 bps to 28.46% in 2024, then dropped by 13 bps to 24.89% in 2025, then retreated by 3 bps to 24.22% in 2026.
- Business Quant data shows MORN's Operating Margin at 24.22% in Q2 2026, 24.18% in Q1 2026, and 24.89% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 127.26 Bn | 123.12 Bn | 2.98 Bn | 43.70% |
| 2 | Cme | 99.13 Bn | 99.13 Bn | 1.65 Bn | 64.89% |
| 3 | Intercontinental Exchange | 90.95 Bn | 88.99 Bn | - | 38.52% |
| 4 | Moodys | 87.63 Bn | 86.13 Bn | 1.67 Bn | 47.87% |
| 5 | Nasdaq | 55.45 Bn | 54.73 Bn | 1.50 Bn | 28.12% |
| 6 | Coinbase Global | 49.19 Bn | 40.40 Bn | 1.16 Bn | -9.30% |
| 7 | Msci | 41.09 Bn | 40.73 Bn | 717.10 Mn | 56.23% |
| 8 | Cboe Global Markets | 31.57 Bn | 29.18 Bn | 731.60 Mn | 32.99% |
| 9 | TransUnion | 16.37 Bn | 15.54 Bn | 765.00 Mn | 19.70% |
| 10 | Morningstar | 8.19 Bn | 7.66 Bn | 423.90 Mn | 24.22% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 24.22% |
| Mar 31, 2026 | 24.18% |
| Dec 31, 2025 | 24.89% |
| Sep 30, 2025 | 20.70% |
| Jun 30, 2025 | 20.67% |
| Mar 31, 2025 | 19.61% |
| Dec 31, 2024 | 28.46% |
| Sep 30, 2024 | 20.28% |
| Jun 30, 2024 | 18.97% |
| Mar 31, 2024 | 17.06% |
| Dec 31, 2023 | 17.52% |
| Sep 30, 2023 | 13.58% |
| Jun 30, 2023 | 8.26% |
| Mar 31, 2023 | 5.11% |
| Dec 31, 2022 | 7.47% |
| Sep 30, 2022 | 4.70% |
| Jun 30, 2022 | 11.46% |
| Mar 31, 2022 | 12.34% |
| Dec 31, 2021 | 16.18% |
| Sep 30, 2021 | 15.81% |