Morningstar (MORN) Operating Margin (2009 - 2026)
Morningstar (MORN) reported Operating Margin of 24.18% for Q1 2026, up 457.0% year-over-year from 4.34% in Q1 2025, and down 2.88% on a QoQ basis from 24.89% in Q4 2025.
Morningstar (MORN) has 18 years of Operating Margin data on file, last reported at 24.18% in Q1 2026.
- Quarterly Operating Margin rose 457.0% year-over-year to 24.18% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 22.66% (up 78.0% YoY) and the FY2025 annual result came in at 21.53%, up 22.0% from the prior year.
- Operating Margin declined to 24.18% in Q1 2026 per MORN's latest filing, from 24.89% 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.
- The 5-year median for Operating Margin is 17.52% (2023), against an average of 16.19%.
- The widest annual swing landed in 2022, when Operating Margin sank 1111 bps; it then soared 1195 bps in 2024.
- Tracing MORN's Operating Margin over 5 years: 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 retreated by 13 bps to 24.89% in 2025, then decreased by 3 bps to 24.18% in 2026.
- Per Business Quant, the three latest MORN Operating Margin figures stand at 24.18% (Q1 2026), 24.89% (Q4 2025), and 20.7% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 126.06 Bn | 129.16 Bn | 2.94 Bn | 48.00% |
| 2 | Cme | 98.29 Bn | 98.29 Bn | 1.83 Bn | 69.66% |
| 3 | Intercontinental Exchange | 83.83 Bn | 82.37 Bn | - | 55.93% |
| 4 | Moodys | 80.13 Bn | 78.77 Bn | 1.55 Bn | 44.35% |
| 5 | Nasdaq | 52.44 Bn | 51.76 Bn | 1.41 Bn | 30.74% |
| 6 | Coinbase Global | 50.05 Bn | 49.52 Bn | 1.33 Bn | -1.52% |
| 7 | Msci | 46.28 Bn | 45.89 Bn | 765.10 Mn | 53.70% |
| 8 | Cboe Global Markets | 34.92 Bn | 32.75 Bn | 728.90 Mn | 39.72% |
| 9 | TransUnion | 13.79 Bn | 13.22 Bn | 726.20 Mn | 19.65% |
| 10 | Morningstar | 7.12 Bn | 6.58 Bn | 405.90 Mn | 24.18% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 11.36% |
| Mar 31, 2021 | 17.11% |
| Dec 31, 2020 | 17.11% |
| Sep 30, 2020 | 12.40% |
| Jun 30, 2020 | 18.69% |
| Mar 31, 2020 | 13.73% |
| Dec 31, 2019 | 11.94% |
| Sep 30, 2019 | 15.81% |
| Jun 30, 2019 | 18.55% |
| Mar 31, 2019 | 19.12% |
| Dec 31, 2018 | 18.77% |
| Sep 30, 2018 | 25.03% |
| Jun 30, 2018 | 21.24% |
| Mar 31, 2018 | 19.51% |
| Dec 31, 2017 | 17.52% |
| Sep 30, 2017 | 22.97% |
| Jun 30, 2017 | 20.07% |
| Mar 31, 2017 | 13.56% |
| Dec 31, 2016 | 23.52% |
| Sep 30, 2016 | 22.54% |
| Jun 30, 2016 | 22.40% |
| Mar 31, 2016 | 22.02% |
| Dec 31, 2015 | 24.85% |
| Sep 30, 2015 | 23.66% |
| Jun 30, 2015 | 24.59% |
| Mar 31, 2015 | 23.45% |
| Dec 31, 2014 | 23.73% |
| Sep 30, 2014 | 23.46% |
| Jun 30, 2014 | -13.09% |
| Mar 31, 2014 | 21.25% |
| Dec 31, 2013 | 23.21% |
| Sep 30, 2013 | 25.72% |
| Jun 30, 2013 | 24.84% |
| Mar 31, 2013 | 24.02% |
| Dec 31, 2012 | 23.02% |
| Sep 30, 2012 | 24.77% |
| Jun 30, 2012 | 24.79% |
| Mar 31, 2012 | 18.91% |
| Dec 31, 2011 | 21.53% |
| Sep 30, 2011 | 21.16% |
| Jun 30, 2011 | 23.98% |
| Mar 31, 2011 | 20.96% |
| Dec 31, 2010 | 21.36% |
| Sep 30, 2010 | 21.57% |
| Jun 30, 2010 | 20.33% |
| Mar 31, 2010 | 24.12% |
| Dec 31, 2009 | 19.31% |
| Sep 30, 2009 | 28.05% |
| Jun 30, 2009 | 27.35% |