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Morningstar Posts Strong Q4 2025 Results and Margins

Story Highlights
  • Morningstar posted solid 2025 revenue and profit growth, with strong adjusted margins and earnings despite one-off gains falling and tax rates rising.
  • Credit, Direct and PitchBook segments drove organic expansion, while Wealth lagged and heavy share repurchases signaled a confident capital return stance.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Morningstar Posts Strong Q4 2025 Results and Margins

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Morningstar ( (MORN) ) has issued an update.

Morningstar, Inc. reported on Feb. 12, 2026 that fourth-quarter 2025 revenue rose 8.5% to $641.1 million and full-year revenue grew 7.5% to $2.4 billion, with organic growth driven mainly by Morningstar Credit, PitchBook and the Morningstar Direct Platform. While reported Q4 operating income declined 5.1% due to a lower gain on the prior sale of US TAMP assets, adjusted operating income jumped 26.1%, and adjusted diluted EPS climbed 26.6%, supported by higher margins and strong cash generation.

For 2025, operating income increased 8.6% and adjusted operating income rose 18.0%, with adjusted operating margin improving to 23.8% despite higher compensation and technology costs tied to targeted reorganizations and severance. Segment results highlighted particularly robust growth and margin expansion in Morningstar Credit, solid performance at Morningstar Direct and PitchBook amid flat license counts, and weaker reported revenue at Morningstar Wealth, while substantial share repurchases underscored an aggressive capital return strategy even as the effective tax rate moved higher.

The most recent analyst rating on (MORN) stock is a Buy with a $251.00 price target. To see the full list of analyst forecasts on Morningstar stock, see the MORN Stock Forecast page.

Spark’s Take on MORN Stock

According to Spark, TipRanks’ AI Analyst, MORN is a Outperform.

The score is driven primarily by strong financial performance (high margins and improving free cash flow) and supported by positive corporate actions (buybacks, dividend increase, and strategic initiatives). These strengths are tempered by weaker technical positioning, with the stock trading below multiple moving averages and a sub-50 RSI.

To see Spark’s full report on MORN stock, click here.

More about Morningstar

Morningstar, Inc., listed on Nasdaq as MORN, operates in the financial information and analytics industry, providing independent investment insights, data, research, ratings and software platforms to investors and advisors globally. Key franchises include the Morningstar Direct Platform, PitchBook for private markets intelligence, Morningstar Credit for ratings, and Morningstar Wealth, serving both institutional and retail investment stakeholders.

Average Trading Volume: 419,367

Technical Sentiment Signal: Sell

Current Market Cap: $6.64B

Find detailed analytics on MORN stock on TipRanks’ Stock Analysis page.

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