For the quarter ending 2026-03-31, MORN had $18,300K increase in cash & cash equivalents over the period. $53,600K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Consolidated net income | 107,100 | 115,100 | 91,600 | 167,500 |
| Depreciation and amortization | 51,700 | 47,100 | 47,000 | 95,800 |
| Deferred income taxes | 12,700 | 12,200 | 16,200 | 13,800 |
| Stock-based compensation expense | 10,800 | 10,300 | 18,600 | 27,500 |
| Provision for credit losses | 1,800 | 2,600 | 600 | 1,900 |
| Equity in investments of unconsolidated entities | -100 | 600 | -100 | -3,800 |
| Gain on equity method transaction | - | 0 | - | - |
| Gain on sale of business | - | 0 | 0 | - |
| Gain on sale of customer assets | - | 22,700 | - | - |
| Other, net | -100 | -100 | 2,300 | 1,000 |
| Accounts receivable | 9,000 | 26,800 | -18,200 | 17,400 |
| Accounts payable and accrued liabilities | 6,700 | 3,700 | 1,700 | -4,300 |
| Accrued compensation and deferred commissions | -138,700 | 62,300 | 53,400 | -78,000 |
| Income taxes | 20,300 | 10,700 | 7,400 | -26,100 |
| Deferred revenue | 63,700 | 19,700 | -29,400 | 35,400 |
| Other assets and liabilities | 10,400 | 5,300 | -5,000 | 1,300 |
| Cash provided by operating activities | 91,500 | 204,000 | 195,700 | 190,000 |
| Purchases of investment securities | 10,700 | 3,700 | 3,300 | 15,200 |
| Proceeds from maturities and sales of investment securities | 23,900 | 12,900 | 6,500 | 26,100 |
| Capital expenditures | 37,900 | 42,700 | 35,600 | 68,800 |
| Acquisitions, net of cash acquired | 359,600 | -100 | 0 | 39,100 |
| Proceeds from sale of business | - | 0 | - | - |
| Proceeds from sale of customer assets | - | 22,700 | - | - |
| Proceeds from sale of business | - | - | 0 | - |
| Proceeds from sale of equity method investments, net | - | 0 | - | - |
| Purchases of investments in unconsolidated entities | 100 | 800 | 800 | 2,500 |
| Other, net | - | 200 | -200 | -4,900 |
| Cash used for investing activities | -384,400 | -11,700 | -33,000 | -94,600 |
| Common shares repurchased | 300,000 | 395,300 | 170,100 | 221,600 |
| Dividends paid | 19,900 | 18,900 | 19,200 | 38,800 |
| Repayment of term facility | - | 350,000 | 0 | 0 |
| Proceeds from revolving credit facility | 295,000 | 430,000 | 105,000 | 265,000 |
| Repayment of revolving credit facility | 30,000 | 230,000 | 95,000 | 125,000 |
| Proceeds from term facility | 375,000 | 375,000 | - | - |
| Employee taxes withheld for stock awards | 800 | 1,800 | 9,000 | 12,000 |
| Payment of acquisition-related earn-outs | - | 0 | - | - |
| Other, net | -2,400 | -3,000 | 200 | -200 |
| Cash provided by (used for) financing activities | 316,900 | -194,000 | -188,100 | -132,600 |
| Effect of exchange rate changes on cash and cash equivalents | -5,700 | 2,000 | -3,900 | 38,000 |
| Net increase in cash and cash equivalents | 18,300 | 300 | -29,300 | 800 |
| Cash and cash equivalentsbeginning of period | 474,500 | 28,500 | 502,700 | - |
| Cash and cash equivalentsend of period | 492,800 | 300 | 474,200 | - |
Morningstar, Inc. (MORN)
Morningstar, Inc. (MORN)