Morningstar Inc (MORN) — Tangible Net Worth Ratio
Morningstar Inc (MORN) has a Tangible Net Worth Ratio of 41.9% as of March 2026. This metric is calculated by deducting intangible assets ($591.40 Million) from net assets ($1.02 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Morningstar Inc net assets for net asset value and shareholders' equity analysis.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Morningstar Inc Tangible Net Worth Ratio (2002–2025)
This chart shows how Morningstar Inc's Tangible Net Worth Ratio has changed across 24 annual periods from 2002 to 2025. As of March 2026, the ratio stands at 41.9%, reflecting net assets of $1.02 Billion with intangible assets of $591.40 Million USD. Also explore MORN shareholders equity momentum to track the company's year-over-year net asset growth rate.
Annual Tangible Net Worth Ratio for Morningstar Inc (2002–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Morningstar Inc from 2002 to 2025, covering 24 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see MORN market cap overview.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 69.0% | $1.22 Billion | $379.30 Million | $3.59 Billion | ▼ -5.8 pp |
| 2024 | 74.7% | $1.62 Billion | $408.80 Million | $3.55 Billion | ▲ +11.2 pp |
| 2023 | 63.5% | $1.33 Billion | $484.40 Million | $3.40 Billion | ▲ +9.0 pp |
| 2022 | 54.6% | $1.21 Billion | $548.60 Million | $3.47 Billion | ▼ -22.3 pp |
| 2021 | 76.8% | $1.42 Billion | $328.20 Million | $2.86 Billion | ▲ +6.7 pp |
| 2020 | 70.1% | $1.27 Billion | $380.10 Million | $2.70 Billion | ▲ +0.9 pp |
| 2019 | 69.2% | $1.08 Billion | $333.40 Million | $2.37 Billion | ▼ -22.9 pp |
| 2018 | 92.1% | $934.70 Million | $73.90 Million | $1.45 Billion | ▲ +3.9 pp |
| 2017 | 88.1% | $804.90 Million | $95.40 Million | $1.41 Billion | ▲ +5.5 pp |
| 2016 | 82.6% | $696.80 Million | $120.90 Million | $1.35 Billion | ▼ -5.8 pp |
| 2015 | 88.4% | $640.60 Million | $74.20 Million | $1.03 Billion | ▲ +3.1 pp |
| 2014 | 85.3% | $654.40 Million | $95.91 Million | $1.02 Billion | ▲ +0.4 pp |
| 2013 | 85.0% | $691.29 Million | $103.91 Million | $1.03 Billion | ▲ +1.0 pp |
| 2012 | 83.9% | $726.89 Million | $116.73 Million | $1.04 Billion | ▲ +0.3 pp |
| 2011 | 83.7% | $857.02 Million | $139.81 Million | $1.17 Billion | ▲ +5.3 pp |
| 2010 | 78.4% | $781.42 Million | $169.02 Million | $1.09 Billion | ▼ -1.6 pp |
| 2009 | 80.0% | $676.87 Million | $135.49 Million | $919.58 Million | ▲ +2.4 pp |
| 2008 | 77.6% | $535.53 Million | $119.81 Million | $803.94 Million | ▲ +1.1 pp |
| 2007 | 76.5% | $408.30 Million | $95.77 Million | $649.31 Million | ▲ +3.6 pp |
| 2006 | 73.0% | $269.42 Million | $72.84 Million | $447.84 Million | ▼ -22.9 pp |
| 2005 | 95.8% | $173.71 Million | $7.25 Million | $296.31 Million | ▲ +20.6 pp |
| 2004 | 75.2% | $64.38 Million | $15.98 Million | $213.36 Million | ▼ -20.9 pp |
| 2003 | 96.1% | $47.78 Million | $1.86 Million | $183.22 Million | ▼ -3.9 pp |
| 2002 | 100.0% | $50.46 Million | $0.00 | $155.11 Million | — |