Morningstar, Inc.
MORNFinancial Statements
Income Statement (Annual)
Amounts in millions
2024
12/31/2024
Revenue
2,275
Cost of Revenue
896
Gross Profit
1,379
Gross Margin
60.6%
Operating Income
485
Operating Margin
21.3%
Net Income
370
Net Margin
16.3%
EPS (Basic)
$8.64
EPS (Diluted)
$8.58
EBITDA
732
EBITDA Margin
32.2%
2023
12/31/2023
Revenue
2,039
Cost of Revenue
844
Gross Profit
1,195
Gross Margin
58.6%
Operating Income
231
Operating Margin
11.3%
Net Income
141
Net Margin
6.9%
EPS (Basic)
$3.31
EPS (Diluted)
$3.29
EBITDA
427
EBITDA Margin
21.0%
2022
12/31/2022
Revenue
1,871
Cost of Revenue
779
Gross Profit
1,091
Gross Margin
58.3%
Operating Income
168
Operating Margin
9.0%
Net Income
71
Net Margin
3.8%
EPS (Basic)
$1.65
EPS (Diluted)
$1.64
EBITDA
326
EBITDA Margin
17.4%
2021
12/31/2021
Revenue
1,699
Cost of Revenue
698
Gross Profit
1,001
Gross Margin
58.9%
Operating Income
257
Operating Margin
15.1%
Net Income
193
Net Margin
11.4%
EPS (Basic)
$4.50
EPS (Diluted)
$4.45
EBITDA
410
EBITDA Margin
24.1%
2020
12/31/2020
Revenue
1,390
Cost of Revenue
556
Gross Profit
833
Gross Margin
60.0%
Operating Income
215
Operating Margin
15.5%
Net Income
224
Net Margin
16.1%
EPS (Basic)
$5.22
EPS (Diluted)
$5.18
EBITDA
434
EBITDA Margin
31.2%