Morningstar, Inc. (MORN)

Morningstar, Inc.'s stock price has declined by 39.75% over the past year, including a 24.2% drop between July 31, 2025, and November 21, 2025. This was due to a decrease in net income per diluted share, analyst price target reductions, lack of explicit forward-looking guidance, and insider selling.

Morningstar's revenue streams are largely recurring and subscription-based, particularly from products like PitchBook and Morningstar Direct, contributing to consistent growth. The emphasis on recurring revenue streams implies that demand may be less susceptible to significant seasonal fluctuations compared to transactional businesses. Morningstar tracks mean and median monthly returns for MORN to identify seasonal patterns in its stock performance.

Morningstar, Inc. is a financial services firm providing independent investment insights and services. It operates in the Financials sector, specifically in the Financial Data & Stock Exchanges industry, focusing on investment research and management. The company is structured into five segments: Morningstar Data and Analytics, PitchBook, Morningstar Wealth, Morningstar Credit, and Morningstar Retirement. Its offerings include managed investments, data and analytics platforms, private capital markets data, wealth management solutions, credit ratings, retirement solutions, ESG solutions, and indexes.

Morningstar, Inc. has a significant international presence, operating through subsidiaries in 32 countries across North America, Europe, Australia, and Asia, including the United States, Canada, and several countries in Europe and Asia. The majority of Morningstar's revenue is generated in the United States.

Morningstar's brand reputation is built on trust, independence, methodological rigor, and transparency. Its research and recommendations are highly influential, and its organic growth is driven by its strong brand and ability to adapt and innovate. There have been no specific events reported in the past year that have negatively affected Morningstar's brand reputation.

Institutional investors hold approximately 59.60% of Morningstar, Inc.'s shares, with major holders including Vanguard Group Inc and BlackRock, Inc. Individual investors hold about 12.88% of the shares. Founder Joe Mansueto is the largest individual shareholder, owning approximately 21.65% of the company's shares. Insider ownership stands at 27.52%.