For the year ending 2025-12-31, MORN made $2,445,500K in revenue. $374,200K in net income. Net profit margin of 15.30%.
| Income Statement | 2025-12-31 | 2024-12-31 | ||
|---|---|---|---|---|
| Revenue | 2,445,500 | 2,275,100 | ||
| Cost of revenue | 952,900 | 895,700 | ||
| Sales and marketing | 467,000 | 441,000 | ||
| General and administrative | 334,000 | 327,200 | ||
| Depreciation and amortization | 189,900 | 190,400 | ||
| Total operating expense | 1,943,800 | 1,854,300 | ||
| Gain on sale of customer assets | 22,700 | 64,000 | ||
| Other operating income | 2,200 | - | ||
| Net realized gains (losses) on sale of investments, reclassified from other comprehensive income | - | 3,800 | ||
| Operating income | 526,600 | 484,800 | ||
| Interest expense, net | -28,600 | -37,700 | ||
| Gain on sale of business | 0 | 45,300 | ||
| Expense from equity method transaction, net | 0 | - | ||
| Other income (expense), net | 1,000 | -4,900 | ||
| Non-operating income (expense), net | -27,600 | 6,500 | ||
| Income before income taxes and equity in investments of unconsolidated entities | 499,000 | 491,300 | ||
| Equity in investments of unconsolidated entities | -3,300 | -17,400 | ||
| Income tax expense | 121,500 | 104,000 | ||
| Consolidated net income | 374,200 | 369,900 | ||
| Basic (in shares) | 41,900,000 | 42,800,000 | ||
| Basic net income per share (in dollars per share) | 8.93 | 8.64 | ||
| Diluted (in shares) | 42,200,000 | 43,100,000 | ||
| Diluted net income per share (in dollars per share) | 8.87 | 8.58 | ||
Morningstar, Inc. (MORN)
Morningstar, Inc. (MORN)