Morningstar Inc (MORN) - Net Assets
Based on the latest financial reports, Morningstar Inc (MORN) has net assets worth $1.02 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($3.99 Billion) and total liabilities ($2.97 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. Check how tangible is Morningstar Inc's equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.02 Billion |
| % of Total Assets | 25.56% |
| 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. See operational self-sufficiency of Morningstar Inc to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for Morningstar Inc (2002–2025)
The table below shows the annual net assets of Morningstar Inc from 2002 to 2025. For live valuation and market cap data, see Morningstar Inc market cap and net worth.
| 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 grown by 220620000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.21 Billion | 180.55% |
| Other Comprehensive Income | $-68.10 Million | -5.57% |
| 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 |
|---|---|
|
TXNM Energy, Inc.
NYSE:TXNM
|
$6.25 Billion |
|
Guangdong Kingshine Electronic Tech
SHE:300903
|
$6.25 Billion |
|
ENN Energy Holdings Limited
F:XGH
|
$6.26 Billion |
|
Definity Financial Corp
TO:DFY
|
$6.26 Billion |
|
VSXY
NYSE:VSXY
|
$6.24 Billion |
|
AU Optronics
TW:2409
|
$6.24 Billion |
|
Hundsun Technologies Inc
SHG:600570
|
$6.24 Billion |
|
AutoNation Inc
NYSE:AN
|
$6.24 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 51,300,000.
- Other factors increased equity by 41,700,000.
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 | $51.30 Million | +4.2% |
| Other Changes | $41.70 Million | +3.41% |
| 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: 5.67x
- 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 165.77x to 5.67x 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 | $164.30 | x |
| 2001-12-31 | $0.87 | $164.30 | x |
| 2002-12-31 | $1.25 | $164.30 | x |
| 2003-12-31 | $1.24 | $164.30 | x |
| 2004-12-31 | $1.54 | $164.30 | x |
| 2005-12-31 | $3.91 | $164.30 | x |
| 2006-12-31 | $5.77 | $164.30 | x |
| 2007-12-31 | $8.48 | $164.30 | x |
| 2008-12-31 | $10.88 | $164.30 | x |
| 2009-12-31 | $13.35 | $164.30 | x |
| 2010-12-31 | $15.43 | $164.30 | x |
| 2011-12-31 | $16.78 | $164.30 | x |
| 2012-12-31 | $14.76 | $164.30 | x |
| 2013-12-31 | $14.84 | $164.30 | x |
| 2014-12-31 | $14.55 | $164.30 | x |
| 2015-12-31 | $14.45 | $164.30 | x |
| 2016-12-31 | $16.09 | $164.30 | x |
| 2017-12-31 | $18.72 | $164.30 | x |
| 2018-12-31 | $21.74 | $164.30 | x |
| 2019-12-31 | $25.08 | $164.30 | x |
| 2020-12-31 | $29.43 | $164.30 | x |
| 2021-12-31 | $32.62 | $164.30 | x |
| 2022-12-31 | $28.14 | $164.30 | x |
| 2023-12-31 | $30.95 | $164.30 | x |
| 2024-12-31 | $37.55 | $164.30 | x |
| 2025-12-31 | $28.95 | $164.30 | 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: 15.30%
- • 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% | 15.30% | 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: $5,935,421,790
- Average return on equity (ROE) among peers: -226.73%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Morningstar Inc (MORN) | $1.02 Billion | -75.27% | 2.91x | $6.25 Billion |
| Bit Origin Ltd (BTOG) | $909.58K | -1927.48% | 6.35x | $3.04 Million |
| CME Group Inc (CME) | $27.40 Billion | 9.62% | 6.18x | $91.51 Billion |
| Coinbase Global Inc (COIN) | $10.28 Billion | 25.10% | 1.19x | $36.68 Billion |
| Dun & Bradstreet Holdings Inc. (DNB) | $-18.80 Million | 0.00% | 0.00x | $4.08 Billion |
| Datacentrex, Inc. (DTCX) | $819.52K | -183.60% | 0.46x | $74.59 Million |
| FactSet Research Systems Inc (FDS) | $268.11 Million | 26.77% | 0.30x | $7.99 Billion |
| Intercontinental Exchange Inc (ICE) | $15.79 Billion | 9.06% | 4.19x | $76.11 Billion |
| Moodys Corporation (MCO) | $0.00 | 0.00% | 0.00x | $78.32 Billion |
| Marketwise Inc (MKTW) | $-298.38 Million | 0.00% | 0.00x | $43.55 Million |
About Morningstar Inc
Morningstar, Inc. provides independent investment insights for investors in the United States, Asia, Australia, Canada, Continental Europe, the United Kingdom, and internationally. It operates through five segments: Morningstar Direct Platform, PitchBook, Morningstar Credit, Morningstar Wealth, and Morningstar Retirement. The company offers managed investments, including mutual funds, exchanged t… Read more