Morningstar (MORN) Shares Outstanding (2009 - 2026)
Morningstar (MORN) recorded Shares Outstanding of 37.8 million in Q2 2026, down 10.4% from 42.2 million a year earlier and down 3.3% from the prior quarter.
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Analysis
Morningstar (MORN) Shares Outstanding (2009 - 2026) Analysis & Trends
For FY2025, Morningstar reported Shares Outstanding of 41.9 million, down 2.1% from FY2024.
- Annual Shares Outstanding has a five-year compound annual growth rate of -0.5% (FY2020 to FY2025).
- Across earlier years, Shares Outstanding came in at 42.8 million in FY2024 (+0.5%), 42.6 million in FY2023 (unchanged), 42.6 million in FY2022 (-0.9%) and 43 million in FY2021 (+0.2%).
- The Q2 2026 figure is the lowest quarterly Shares Outstanding in data going back to Q2 2009.
- On a year-over-year basis, Shares Outstanding has declined for five consecutive quarters, with an average decline of 2.9% over the last eight quarters.
- Peak year-over-year performance for Shares Outstanding in the last five years was growth of 0.5% in Q1 2024, against a decline of 10.4% in Q2 2026 at the low end.
- Per Business Quant, the preceding three quarters came in at 39.1 million (Q1 2026), 41.9 million (Q4 2025) and 42.1 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 116.38 Bn | 111.98 Bn | 2.98 Bn | 295.40 Mn |
| 2 | Moodys | 78.67 Bn | 71.10 Bn | 1.67 Bn | 174.10 Mn |
| 3 | Msci | 39.16 Bn | 37.50 Bn | 717.10 Mn | 72.80 Mn |
| 4 | Verisk Analytics | 21.84 Bn | 16.48 Bn | 572.90 Mn | 130.76 Mn |
| 5 | Equifax | 16.14 Bn | 15.54 Bn | 926.40 Mn | 118.40 Mn |
| 6 | TransUnion | 11.72 Bn | 8.70 Bn | - | 192.30 Mn |
| 7 | Factset Research Systems | 9.66 Bn | 8.43 Bn | 310.73 Mn | 36.12 Mn |
| 8 | Morningstar | 7.13 Bn | 5.03 Bn | 423.90 Mn | 37.80 Mn |
| 9 | Mastercard | 480.27 Bn | 440.19 Bn | - | 882.00 Mn |
| 10 | Cme | 94.12 Bn | 94.12 Bn | - | 360.68 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 37.80 Mn |
| Mar 31, 2026 | 39.10 Mn |
| Dec 31, 2025 | 41.90 Mn |
| Sep 30, 2025 | 42.10 Mn |
| Jun 30, 2025 | 42.20 Mn |
| Mar 31, 2025 | 42.80 Mn |
| Dec 31, 2024 | 42.80 Mn |
| Sep 30, 2024 | 42.90 Mn |
| Jun 30, 2024 | 42.80 Mn |
| Mar 31, 2024 | 42.70 Mn |
| Dec 31, 2023 | 42.60 Mn |
| Sep 30, 2023 | 42.70 Mn |
| Jun 30, 2023 | 42.60 Mn |
| Mar 31, 2023 | 42.50 Mn |
| Dec 31, 2022 | 42.60 Mn |
| Sep 30, 2022 | 42.50 Mn |
| Jun 30, 2022 | 42.60 Mn |
| Mar 31, 2022 | 43.00 Mn |
| Dec 31, 2021 | 43.00 Mn |
| Sep 30, 2021 | 43.10 Mn |
API Access
Morningstar Shares Outstanding 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=shares-outstanding&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();