Morningstar Inc
Morningstar, Inc. provides independent investment insights in the United States, Asia, Australia, Canada, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement. The company offers managed investments, including mutual funds, ETFs, separate acc… Read more
Morningstar Inc (MORN) - Net Assets
Latest net assets as of December 2025: $1.22 Billion USD
Based on the latest financial reports, Morningstar Inc (MORN) has net assets worth $1.22 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.59 Billion) and total liabilities ($2.37 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.22 Billion |
| % of Total Assets | 34.03% |
| Annual Growth Rate | 14.86% |
| 5-Year Change | -13.7% |
| 10-Year Change | 75.36% |
| Growth Volatility | 37.5 |
Morningstar Inc - Net Assets Trend (2002–2025)
This chart illustrates how Morningstar Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Morningstar Inc (2002–2025)
The table below shows the annual net assets of Morningstar Inc from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.22 Billion | -24.51% |
| 2024-12-31 | $1.62 Billion | +21.90% |
| 2023-12-31 | $1.33 Billion | +10.00% |
| 2022-12-31 | $1.21 Billion | -14.75% |
| 2021-12-31 | $1.42 Billion | +11.37% |
| 2020-12-31 | $1.27 Billion | +17.33% |
| 2019-12-31 | $1.08 Billion | +15.93% |
| 2018-12-31 | $934.70 Million | +16.13% |
| 2017-12-31 | $804.90 Million | +15.51% |
| 2016-12-31 | $696.80 Million | +8.77% |
| 2015-12-31 | $640.60 Million | -2.11% |
| 2014-12-31 | $654.40 Million | -5.34% |
| 2013-12-31 | $691.29 Million | -4.90% |
| 2012-12-31 | $726.89 Million | -15.18% |
| 2011-12-31 | $857.02 Million | +9.67% |
| 2010-12-31 | $781.42 Million | +15.45% |
| 2009-12-31 | $676.87 Million | +26.39% |
| 2008-12-31 | $535.53 Million | +31.16% |
| 2007-12-31 | $408.30 Million | +51.55% |
| 2006-12-31 | $269.42 Million | +55.10% |
| 2005-12-31 | $173.71 Million | +169.82% |
| 2004-12-31 | $64.38 Million | +34.76% |
| 2003-12-31 | $47.78 Million | -5.32% |
| 2002-12-31 | $50.46 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Morningstar Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $1.22 Billion | 100.00% |
| Total Equity | $1.22 Billion | 100.00% |
Morningstar Inc Competitors by Market Cap
The table below lists competitors of Morningstar Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Do-Fluoride Chemicals Co Ltd
SHE:002407
|
$3.81 Billion |
|
Commercial International Bank
OTCQX:CIBEY
|
$3.81 Billion |
|
Regency Centers Corporation 6.25% Series A Cumulative Redeemable Preferred Stock
NASDAQ:REGCP
|
$3.81 Billion |
|
Wingtech Technology Co Ltd
SHG:600745
|
$3.81 Billion |
|
Independence Realty Trust Inc
NYSE:IRT
|
$3.80 Billion |
|
Hamilton Lane Inc
NASDAQ:HLNE
|
$3.80 Billion |
|
New Hope Liuhe Co Ltd
SHE:000876
|
$3.80 Billion |
|
AU Optronics Corp
PINK:AUOTY
|
$3.80 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Morningstar Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,618,600,000 to 1,221,900,000, a change of -396,700,000 (-24.5%).
- Net income of 374,200,000 contributed positively to equity growth.
- Dividend payments of 76,900,000 reduced retained earnings.
- Share repurchases of 787,000,000 reduced equity.
- Other comprehensive income increased equity by 119,400,000.
- Other factors decreased equity by 26,400,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $374.20 Million | +30.62% |
| Dividends Paid | $76.90 Million | -6.29% |
| Share Repurchases | $787.00 Million | -64.41% |
| Other Comprehensive Income | $119.40 Million | +9.77% |
| Other Changes | $-26.40 Million | -2.16% |
| Total Change | $- | -24.51% |
Book Value vs Market Value Analysis
This analysis compares Morningstar Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 6.35x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 185.52x to 6.35x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2000-12-31 | $0.99 | $183.87 | x |
| 2001-12-31 | $0.87 | $183.87 | x |
| 2002-12-31 | $1.25 | $183.87 | x |
| 2003-12-31 | $1.24 | $183.87 | x |
| 2004-12-31 | $1.54 | $183.87 | x |
| 2005-12-31 | $3.91 | $183.87 | x |
| 2006-12-31 | $5.77 | $183.87 | x |
| 2007-12-31 | $8.48 | $183.87 | x |
| 2008-12-31 | $10.88 | $183.87 | x |
| 2009-12-31 | $13.35 | $183.87 | x |
| 2010-12-31 | $15.43 | $183.87 | x |
| 2011-12-31 | $16.78 | $183.87 | x |
| 2012-12-31 | $14.76 | $183.87 | x |
| 2013-12-31 | $14.84 | $183.87 | x |
| 2014-12-31 | $14.55 | $183.87 | x |
| 2015-12-31 | $14.45 | $183.87 | x |
| 2016-12-31 | $16.09 | $183.87 | x |
| 2017-12-31 | $18.72 | $183.87 | x |
| 2018-12-31 | $21.74 | $183.87 | x |
| 2019-12-31 | $25.08 | $183.87 | x |
| 2020-12-31 | $29.43 | $183.87 | x |
| 2021-12-31 | $32.62 | $183.87 | x |
| 2022-12-31 | $28.14 | $183.87 | x |
| 2023-12-31 | $30.95 | $183.87 | x |
| 2024-12-31 | $37.55 | $183.87 | x |
| 2025-12-31 | $28.95 | $183.87 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Morningstar Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 30.62%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.22%
- • Asset Turnover: 0.68x
- • Equity Multiplier: 2.94x
- Recent ROE (30.62%) is above the historical average (9.09%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | -75.27% | -38.20% | 0.56x | 3.52x | $-32.44 Million |
| 2001 | -25.84% | -10.19% | 0.71x | 3.58x | $-12.89 Million |
| 2002 | 0.88% | 0.41% | 0.71x | 3.07x | $-4.60 Million |
| 2003 | -24.90% | -8.53% | 0.76x | 3.83x | $-16.67 Million |
| 2004 | 13.68% | 4.90% | 0.84x | 3.31x | $2.37 Million |
| 2005 | 17.91% | 13.70% | 0.77x | 1.71x | $13.75 Million |
| 2006 | 19.21% | 16.42% | 0.70x | 1.66x | $24.82 Million |
| 2007 | 18.10% | 16.99% | 0.67x | 1.59x | $33.09 Million |
| 2008 | 17.28% | 18.42% | 0.62x | 1.50x | $38.98 Million |
| 2009 | 12.41% | 17.21% | 0.52x | 1.38x | $15.99 Million |
| 2010 | 11.07% | 15.55% | 0.51x | 1.39x | $8.34 Million |
| 2011 | 11.50% | 15.58% | 0.54x | 1.37x | $12.82 Million |
| 2012 | 14.90% | 16.42% | 0.63x | 1.44x | $35.53 Million |
| 2013 | 17.89% | 17.69% | 0.68x | 1.49x | $54.47 Million |
| 2014 | 11.98% | 10.30% | 0.75x | 1.56x | $12.95 Million |
| 2015 | 20.71% | 16.81% | 0.77x | 1.61x | $68.57 Million |
| 2016 | 23.11% | 20.16% | 0.59x | 1.94x | $91.32 Million |
| 2017 | 17.01% | 15.02% | 0.65x | 1.75x | $56.41 Million |
| 2018 | 19.58% | 17.94% | 0.70x | 1.56x | $89.53 Million |
| 2019 | 14.03% | 12.89% | 0.50x | 2.19x | $43.64 Million |
| 2020 | 17.59% | 16.09% | 0.52x | 2.12x | $96.46 Million |
| 2021 | 13.65% | 11.38% | 0.59x | 2.02x | $51.71 Million |
| 2022 | 5.84% | 3.77% | 0.54x | 2.88x | $-50.21 Million |
| 2023 | 10.63% | 6.92% | 0.60x | 2.56x | $8.32 Million |
| 2024 | 22.85% | 16.26% | 0.64x | 2.19x | $208.04 Million |
| 2025 | 30.62% | 15.22% | 0.68x | 2.94x | $252.01 Million |
Industry Comparison
This section compares Morningstar Inc's net assets metrics with peer companies in the Financial Data & Stock Exchanges industry.
Industry Context
- Industry: Financial Data & Stock Exchanges
- Average net assets among peers: $9,077,174,558
- Average return on equity (ROE) among peers: -171.20%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Morningstar Inc (MORN) | $1.22 Billion | -75.27% | 1.94x | $3.80 Billion |
| ASX Limited (ASXFF) | $2.76 Billion | 10.63% | 2.45x | $7.32 Billion |
| B3 S.A. - Brasil Bolsa Balcão (BOLSY) | $25.40 Billion | 10.69% | 0.58x | $16.93 Billion |
| Bolsa Mexicana de Valores S.A.B. de C.V (BOMXF) | $7.67 Billion | 19.68% | 0.15x | $1.05 Billion |
| Bursa Malaysia Bhd Ord (BSMAF) | $827.48 Million | 20.92% | 1.10x | $835.52 Million |
| Bit Origin Ltd (BTOG) | $909.58K | -1927.48% | 6.35x | $2.63 Million |
| Cboe Global Markets Inc (CBOE) | $3.60 Billion | 14.67% | 0.89x | $30.38 Billion |
| CME Group Inc (CME) | $28.73 Billion | 14.08% | 5.91x | $110.13 Billion |
| Coinbase Global Inc (COIN) | $10.28 Billion | 25.10% | 1.19x | $46.24 Billion |
| Deutsche Börse AG (DBOEF) | $11.26 Billion | 17.31% | 18.73x | $44.04 Billion |
| Dun & Bradstreet Holdings Inc. (DNB) | $250.60 Million | 82.44% | 4.68x | $2.89 Billion |