MORN Morningstar margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 93

Gross margin

63.1%

Operating margin

24.5%

EBITDA margin

32.6%

Net margin

17%

Recent Morningstar shows a gross margin of 63.1%, an operating margin of 24.5%, an EBITDA margin of 32.6%, and a net margin of 17%. All available margins expanded year over year, led by EBITDA margin with an increase of 2.8 percentage points.

MORN margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Morningstar's margins averaged 60.95% gross, 20.08% operating, 28.75% EBITDA, and 14.47% net. All four current margins are above their three-year averages.

MORN margin expansion

Year-over-year margin changes in percentage points

Year over year, gross, operating, EBITDA, and net margins all increased, with EBITDA margin showing the largest gain at 2.8 percentage points.

Gross margin expansion

2.2pp

Operating margin expansion

2.2pp

EBITDA margin expansion

2.8pp

Net margin expansion

1.3pp

MORN Gross margin

Looking at the last 3 years, Morningstar had an average gross margin of 60.95%. Against its three-year average, Morningstar's gross margin is currently 63.1%, 2.2 percentage points above its three-year average. Looking back over the last 3 years, Morningstar's gross margin reached 63.1% at its highest point in Sep 2026 and 58.6% at its lowest in Dec 2023.

MORN Operating margin

Over the last 3 years, the average operating margin for Morningstar was 20.08%. At present, Morningstar's current operating margin is 24.5%, which is 4.4 percentage points above its three-year average. Morningstar's operating margin ranged from a low of 11.3% in Dec 2023 to a high of 24.5% in Sep 2026.

MORN EBITDA margin

The average EBITDA margin for Morningstar was 28.75% across the past 3 years. Right now, the current EBITDA margin for Morningstar is 32.6%, 3.9 percentage points above its three-year average. The EBITDA margin for Morningstar moved between 20.1% in Dec 2023 and 32.6% in Sep 2026.

MORN Net margin

Across the last 3 years, Morningstar's net margin averaged 14.47%. The latest net margin for Morningstar is 17%, 2.5 percentage points above its three-year average. Net margin was highest at 17.2% in Jun 2025 and lowest at 6.9% in Dec 2023.

MORN margin group comparison

Margins compared with peer-group, industry and sector averages

Morningstar's gross margin of 63.1% is lower than the Financial Services sector, the industry and its peers average. Looking at the Financial Services sector average of 83.5%, Morningstar's gross margin is 24% lower.

MORN margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Morningstar's gross margin?

For the period ending Sep 30, 2026, MORN recorded a gross margin of 63.1%.

What is Morningstar's operating margin?

The current operating margin for MORN is 24.5% as of Sep 30, 2026.

What is Morningstar's EBITDA margin?

As of Sep 30, 2026, MORN has an EBITDA margin of 32.6%.

What is Morningstar's net margin?

As of Sep 30, 2026, MORN has a net margin of 17%.

What are the average margins of MORN?

Over the last 3 years, Morningstar's margins averaged 61.0% gross, 20.1% operating, 28.8% EBITDA, and 14.5% net.

What are the highest historical margins of MORN?

Across the 5-year period, MORN posted its highest margins at 63.1% gross in Sep 2026, 24.5% operating in Sep 2026, 32.6% EBITDA in Sep 2026, and 17.2% net in Jun 2025.

What are the lowest historical margins of MORN?

Over the last 5 years, Morningstar's lowest margins were 57.2% gross in Jun 2023, 6.4% operating in Jun 2023, 14.7% EBITDA in Mar 2023, and 0.9% net in Mar 2023.