The table below shows Morningstar, Inc.'s income statement line items across its last 6 fiscal years, exactly as reported in the company's audited annual filings. All figures are in US dollars; negative values appear in red.
Line item
FY 2025
FY 2024
FY 2023
FY 2022
FY 2021
FY 2020
Revenue
$2.45B
$2.28B
$2.04B
$1.87B
$1.70B
$1.39B
Cost of revenue
$952.90M
$895.70M
$843.50M
$779.30M
$698.40M
$556.40M
Gross profit
-
-
-
-
-
-
R&D
-
-
-
-
-
-
SG&A
MORN annual revenue (10-K history)
Morningstar, Inc. reported annual revenue of $2.45B for fiscal year 2025. That is up 7.5% from $2.28B in fiscal 2024. Over the 10 fiscal years shown, annual revenue grew from $798.60M (FY 2016) to $2.45B. Figures come from the company's audited annual reports as filed with the SEC.
