Morningstar (MORN) Return on Capital Employed [ROCE] (2009 - 2026)
Morningstar (MORN) recorded Return on Capital Employed [ROCE] of 21.94% in Q3 2026, up 1.73 percentage points from 20.21% a year earlier and up 1.72 percentage points from the prior quarter.
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Analysis
Morningstar (MORN) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Morningstar reported Return on Capital Employed [ROCE] of 20.93%, up 1.60 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] has increased for three straight years, with a five-year change of +9.64 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at 19.32% in FY2024 (+10.31 pp), 9.01% in FY2023 (+1.67 pp), 7.34% in FY2022 (-5.54 pp) and 12.88% in FY2021 (+1.59 pp).
- The Q3 2026 figure is the highest quarterly Return on Capital Employed [ROCE] since Q3 2016.
- On a year-over-year basis, Return on Capital Employed [ROCE] has increased for 12 consecutive quarters, with an average year-over-year change of +4.07 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 9.60 percentage points in Q2 2024, against a drop of 6.28 percentage points in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 20.23% (Q2 2026), 20.61% (Q1 2026) and 20.89% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Msci | 235.55 Bn | 234.03 Bn | 739.80 Mn | 47.47% |
| 2 | S&P Global | 137.22 Bn | 132.42 Bn | 2.64 Bn | 16.62% |
| 3 | Moodys | 88.04 Bn | 81.11 Bn | 1.50 Bn | 31.77% |
| 4 | Verisk Analytics | 26.17 Bn | 22.36 Bn | 567.00 Mn | 40.49% |
| 5 | Equifax | 22.05 Bn | 21.44 Bn | 940.10 Mn | 11.82% |
| 6 | TransUnion | 15.64 Bn | 12.48 Bn | - | 8.80% |
| 7 | Factset Research Systems | 11.49 Bn | 10.35 Bn | 308.40 Mn | 22.75% |
| 8 | Morningstar | 9.15 Bn | 7.04 Bn | 431.40 Mn | 21.94% |
| 9 | Mastercard | 570.55 Bn | 530.63 Bn | - | 63.06% |
| 10 | Cme | 110.48 Bn | 98.81 Bn | 359.20 Mn | 12.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 21.94% |
| Jun 30, 2026 | 20.23% |
| Mar 31, 2026 | 20.61% |
| Dec 31, 2025 | 20.89% |
| Sep 30, 2025 | 20.21% |
| Jun 30, 2025 | 19.46% |
| Mar 31, 2025 | 19.07% |
| Dec 31, 2024 | 18.72% |
| Sep 30, 2024 | 15.87% |
| Jun 30, 2024 | 14.28% |
| Mar 31, 2024 | 11.72% |
| Dec 31, 2023 | 9.25% |
| Sep 30, 2023 | 6.63% |
| Jun 30, 2023 | 4.69% |
| Mar 31, 2023 | 5.19% |
| Dec 31, 2022 | 6.55% |
| Sep 30, 2022 | 7.86% |
| Jun 30, 2022 | 10.69% |
| Mar 31, 2022 | 11.47% |
| Dec 31, 2021 | 12.72% |
API Access
Morningstar Return on Capital Employed [ROCE] API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "ticker": "MORN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=return-on-capital-employed-%5Broce%5D&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();