Morningstar (MORN) Tax Rate (2009 - 2026)
Morningstar (MORN) reported Tax Rate of 26.05% for Q2 2026, up 3.48 percentage points from 22.58% a year earlier and up 1.65 percentage points from the prior quarter.
Powered by 
Analysis
Morningstar (MORN) Tax Rate (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Morningstar's Tax Rate came in at 25.00%, up 3.29 percentage points year-over-year; for FY2025, it came in at 24.35%, up 3.18 percentage points from FY2024.
- Tax Rate has a five-year change of +3.25 percentage points (FY2020 to FY2025).
- By year, Tax Rate came in at 21.17% in FY2024 (+2.99 pp), 18.18% in FY2023 (-25.08 pp), 43.26% in FY2022 (+18.27 pp) and 24.99% in FY2021 (+3.89 pp).
- The Q2 2026 figure ranks as the highest quarterly Tax Rate since Q3 2023.
- Year over year, Tax Rate gained in six of the last eight quarters, with an average year-over-year change of +1.18 percentage points.
- The high point for year-over-year Tax Rate in five years was Q1 2023 (a gain of 372.54 percentage points); the low point was Q1 2024 (a drop of 375.52 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 24.40% (Q1 2026), 24.12% (Q4 2025) and 25.51% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 116.38 Bn | 111.98 Bn | 2.98 Bn | 23.48% |
| 2 | Moodys | 78.67 Bn | 71.10 Bn | 1.67 Bn | 24.94% |
| 3 | Msci | 39.16 Bn | 37.50 Bn | 717.10 Mn | 18.04% |
| 4 | Verisk Analytics | 21.84 Bn | 16.48 Bn | 572.90 Mn | 24.65% |
| 5 | Equifax | 16.14 Bn | 15.54 Bn | 926.40 Mn | 27.95% |
| 6 | TransUnion | 11.72 Bn | 8.70 Bn | - | 27.20% |
| 7 | Factset Research Systems | 9.66 Bn | 8.43 Bn | 310.73 Mn | 17.78% |
| 8 | Morningstar | 7.13 Bn | 5.03 Bn | 423.90 Mn | 26.05% |
| 9 | Mastercard | 480.27 Bn | 440.19 Bn | - | 20.01% |
| 10 | Cme | 94.12 Bn | 94.12 Bn | - | 21.53% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 26.05% |
| Mar 31, 2026 | 24.40% |
| Dec 31, 2025 | 24.12% |
| Sep 30, 2025 | 25.51% |
| Jun 30, 2025 | 22.58% |
| Mar 31, 2025 | 25.25% |
| Dec 31, 2024 | 20.81% |
| Sep 30, 2024 | 19.49% |
| Jun 30, 2024 | 21.45% |
| Mar 31, 2024 | 24.48% |
| Dec 31, 2023 | 15.61% |
| Sep 30, 2023 | 29.09% |
| Mar 31, 2023 | 400.00% |
| Dec 31, 2022 | 86.27% |
| Jun 30, 2022 | 18.83% |
| Mar 31, 2022 | 27.46% |
| Dec 31, 2021 | 24.93% |
| Sep 30, 2021 | 25.47% |
| Jun 30, 2021 | 30.35% |
| Mar 31, 2021 | 20.95% |
API Access
Morningstar Tax Rate 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=tax-rate&ticker=MORN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "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=tax-rate&ticker=MORN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();