Welcome to our dedicated page for Morningstar SEC filings (Ticker: MORN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Morningstar, Inc. (NASDAQ: MORN) SEC filings page on Stock Titan provides access to the company’s official regulatory documents as filed with the U.S. Securities and Exchange Commission. These filings offer detailed insight into Morningstar’s financial condition, risk factors, capital structure, governance changes, and material corporate events, complementing its role as a provider of independent investment insights.
Recent 8-K filings illustrate how Morningstar uses SEC reports to disclose significant developments. Examples include announcements of quarterly and annual financial results, investor question-and-answer materials, changes in executive leadership, dividend declarations, and share repurchase authorizations. An 8-K dated October 31, 2025, describes a new multi-currency Credit Agreement with a revolving credit facility and term loans, including covenants related to consolidated net leverage and interest coverage ratios and guarantees by key subsidiaries.
Other 8-K filings report on the board’s approval of a new three-year share repurchase program, quarterly cash dividends, and a definitive agreement to acquire the Center for Research in Security Prices, LLC, subject to customary closing conditions and regulatory approvals. Additional filings provide Regulation FD disclosures, such as investor Q&A documents and shareholder letters, which are furnished to ensure broad access to information.
On Stock Titan, Morningstar’s filings are updated as they become available from EDGAR. Users can review 8-K current reports for material events, along with other core filings such as annual reports on Form 10-K and quarterly reports on Form 10-Q when they are filed. These documents typically contain discussions of Morningstar’s business segments, risk factors, management’s analysis, and notes on items such as indebtedness, dividend policy, and capital allocation.
AI-powered tools on Stock Titan help interpret lengthy filings by summarizing key sections, highlighting important terms, and surfacing items related to topics such as leverage, liquidity, governance, and risk disclosures. Investors can also use the filings page to track board and executive changes, dividend announcements, credit facility updates, acquisitions, and other events that Morningstar reports through the SEC.
Morningstar, Inc. reported 2025 results showing revenue of $2,445.5 million and reported revenue growth of 7.5% (8.0% organic).
The company posted higher operating and adjusted operating income (up 8.6% and 18.0%), net income per diluted share $8.87, and adjusted net income per diluted share $9.86. Free cash flow was $442.6 million. Morningstar repurchased 3,276,578 shares for $787.0 million (avg $240.17) and reduced shares outstanding by 7.3% in 2025. Debt increased $374.0 million, net, and a multicurrency credit agreement provides up to $1.5 billion of borrowing capacity.
Strategic activity included acquisitions (Lumonic, DealX, CRSP acquisition closed Feb 2026), expansion of AI integrations and product initiatives, and 10,973 permanent full-time employees as of Dec. 31, 2025.
Morningstar, Inc. is asking shareholders to elect 10 directors, approve executive compensation on an advisory basis, and ratify KPMG as independent auditor at its May 7, 2026 annual meeting. The record date is March 9, 2026, and the meeting will be held in Chicago with a live webcast.
The Board will have 10 members, about 80% independent, with mandatory retirement at 73 after 10 years’ service and strict overboarding limits. Executive pay is heavily performance-based, with about 92% of the CEO’s 2025 target compensation and 79% for other named executives tied to incentives and equity.
For 2025, Morningstar reported Adjusted Revenue of $2,430.6 million and Adjusted Operating Income of $778.6 million, above targets, producing formulaic bonus funding of 115.5% that was reduced to 111.4% after negative discretion. Market stock units granted in 2022 paid out below target, reflecting weaker total shareholder return.
Morningstar manages or advises about $378 billion in assets and operates in 32 countries. As of December 31, 2025, it had 10,973 full-time employees, global turnover of 17%, and an engagement score that rose to 66% from 64% in 2024.
Morningstar Inc: The Vanguard Group filed Amendment No. 3 to its Schedule 13G/A, reporting beneficial ownership of 0 shares of Morningstar Inc common stock, representing 0% of the class. The amendment explains an internal realignment that disaggregated certain subsidiaries and business divisions in reliance on SEC Release No. 34-39538 (January 12, 1998), and states those subsidiaries will report beneficial ownership separately. The filing is signed by Ashley Grim, Head of Global Fund Administration.
Morningstar, Inc. furnished an Investor Q&A that explains its strategy, risk factors, and governance ahead of the 2026 Annual Shareholders’ Meeting. The company emphasizes a long-term competitive moat built on large human‑curated datasets, analyst research, proprietary ratings frameworks, and software platforms increasingly enhanced with AI tools.
The Q&A notes diversified revenue streams, with Morningstar Retirement, Morningstar Credit, and Morningstar Wealth together providing roughly one third of 2025 revenue and adjusted operating income, growing revenue 7.4% versus 2024. Morningstar Credit’s 2025 revenue mix was 61% structured finance, 33% corporate and fundamental ratings, and 6% licensed data, with unpublished private ratings roughly one quarter of ratings revenue.
The company discusses margin and expense trends tied to an office‑focused culture with four in‑office days weekly, describes disciplined PitchBook pricing and growth driven by platform and direct data products, and highlights that senior leaders hold meaningful equity, with infrequent open‑market sales and a disclosed purchase of 1,000 shares by the CFO in early March.
Morningstar, Inc. announced that its board of directors has declared a quarterly cash dividend of 50 cents per share, the same level as the dividend paid in January. The dividend will be paid on April 30, 2026 to shareholders of record as of April 3, 2026.
Morningstar describes itself as a leading provider of independent investment insights with approximately $378 billion in assets under management and advisement as of December 31, 2025, operating through wholly-owned subsidiaries in 32 countries.
Morningstar, Inc. Chief Financial Officer Michael Holt reported an open-market purchase of company stock. On March 4, 2026, he bought 1,000 shares of Morningstar common stock at an average price of $186.59 per share, increasing his direct ownership to 9,480 shares.
Holt Michael reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. reported that its Chief Financial Officer, Michael Holt, received a grant of 684 restricted stock units of common stock for no cash payment. Each unit represents the right to receive one Morningstar share and vests in full on September 1, 2027.
After this award, Holt directly holds 8,480 shares and units in total. This figure includes 2,204 securities that were listed in his initial Form 3 but were inadvertently left out of the beneficial ownership totals in later Form 4 filings.
Wiersema Conan reported acquisition or exercise transactions in this Form 4 filing.
Morningstar, Inc. chief accounting and principal accounting officer Conan Wiersema reported an award of 301 restricted stock units of common stock on March 1, 2026. These units carry no purchase price and vest in full on September 1, 2027 under the award agreement.
After this grant, Wiersema beneficially owns 2,286 shares, including 114 restricted stock units from a May 15, 2025 grant that were previously omitted from reported holdings in later filings.
Morningstar, Inc. Executive Chairman and major shareholder Joseph D. Mansueto reported an open-market sale of 3,122 shares of common stock at a weighted average price of $182.3161 per share. The trades were executed in multiple lots between $182.14 and $182.83 under a pre-arranged Rule 10b5-1 trading plan adopted on November 15, 2024.
After this sale, Mansueto directly owned 8,138,232 common shares. He also had indirect holdings through trusts, including 6,282,935 shares in grantor retained annuity trusts for his and his children's benefit, where he serves as trustee, and 150,000 shares in trusts for his children, where his spouse is trustee.
Morningstar, Inc.’s executive chairman and major shareholder Joseph D. Mansueto reported open-market sales of 14,500 shares of common stock in late February. The trades, all coded as sales, were executed on February 26 and 27, 2026 at prices generally between the mid‑$170s and low‑$180s per share.
The filing notes these sales were made under a Rule 10b5-1 trading plan adopted on November 15, 2024. After the transactions, Mansueto directly holds 8,141,354 Morningstar shares, and additional shares are held indirectly through trusts, including 6,282,935 shares in grantor retained annuity trusts and 150,000 shares in trusts for his children.