US · MORN
Morningstar, Inc.
- Sector
- Financial Services · Financial - Data & Stock Exchanges
- Headquarters
- Chicago, IL 60602
- Website
- morningstar.com
Price · as of 2025-12-31
$169.03
Market cap 7.53B
Valuation summary
Four models, one snapshot. Upside is target ÷ current − 1.
| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial Intelligence(AI) | $203.32 | +20.29% |
| Intrinsic Value(DCF) | $118.34 | -29.99% |
| Graham-Dodd Method(GD) | $7.84 | -95.36% |
| Graham Formula(GF) | $135.83 | -19.64% |
Valuation history
Annual price (USD per share) overlaid with each model's fair value. Y-axis is log scale.
| Year | Price | AI | DCF | Graham-Dodd | Graham Formula |
|---|---|---|---|---|---|
| 2011 | $53.43 | $65.61 | $17.00 | $17.55 | $41.56 |
| 2012 | $62.12 | $65.01 | $14.81 | $11.60 | $27.07 |
| 2013 | $74.54 | $71.70 | $15.40 | $15.58 | $37.08 |
| 2014 | $67.98 | $67.40 | $8.16 | $4.87 | $28.99 |
| 2015 | $75.41 | $69.46 | $14.27 | $9.81 | $35.30 |
| 2016 | $75.13 | $83.95 | $14.17 | $8.75 | $34.74 |
| 2017 | $92.00 | $94.18 | $15.09 | $7.84 | $69.61 |
| 2018 | $114.46 | $118.97 | $60.26 | $15.35 | $83.41 |
| 2019 | $134.22 | $118.77 | $152.50 | $2.05 | $82.06 |
| 2020 | $236.79 | $174.68 | $222.89 | $9.64 | $131.12 |
| 2021 | $253.91 | $199.65 | $412.14 | $8.43 | $132.01 |
| 2022 | $187.54 | $150.13 | $237.53 | $0.00 | $29.29 |
| 2023 | $304.69 | $191.36 | $184.45 | $0.00 | $55.44 |
| 2024 | $288.51 | $224.48 | $154.24 | $20.25 | $166.16 |
| 2025 | $182.31 | $203.32 | $87.70 | $7.84 | $135.83 |
AI valuation
Our deep-learning model estimates Morningstar, Inc.'s (MORN) per-share fair value from quarterly fundamentals, sector trend, and historical valuation patterns.
- AI fair value
- $203.32
- Current price
- $169.03
- AI upside
- +20.29%
Methodology and confidence bands appear in the dedicated valuation theory section. The AI score is an estimate, not a recommendation.
Intrinsic value (DCF)
Open DCF calculatorThree textbook valuation models, recomputed daily from the latest financial statements. The DCF uses our Chepakovich model. Graham-Dodd and Graham Formula are conservative reference points.
DCF
$118.34
-29.99% upside
Graham-Dodd
$7.84
-95.36% upside
Graham Formula
$135.83
-19.64% upside
Peer comparison
Same-industry comparables, ranked by market cap.
| Basic Info | Model Valuation | Core Valuation | Profitability | Leverage & Liquidity | Growth | Cash Flow | Dividends | Enterprise Value | Risk | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ticker | Company Name | Price | Market Cap | AI Upside | DCF Upside | GD Upside | GF Upside | P/E | P/B | P/S | EV/EBITDA | PEG | P/TBV | Gross Margin | Operating Margin | Net Margin | ROE | ROIC | ROA | Debt/Equity | Interest Coverage | Current Ratio | Quick Ratio | Net Debt/EBITDA | EPS Growth | Sales Growth | FCF Growth | FCF Yield | Op Cash Flow Ratio | Cash ROIC | Dividend Yield | Dividend Payout | Shareholder Yield | EV/EBIT | EV/FCF | EV/Sales | Altman Z-Score |
| MORN | Morningstar, Inc. | $169.03 | 7.53B | +20% | -30% | -95% | -20% | 20.41 | 6.25 | 3.12 | 11.69 | 603.96 | -9.94 | 61.03% | 21.53% | 15.30% | 26.35% | 19.52% | 10.48% | 1.15 | 13.16 | 0.99 | 0.89 | 1.28 | 338.00% | 749.00% | -140.00% | 5.79% | 0.56 | 21.74% | 1.01% | 20.60% | 11.31% | 16.18 | 19.25 | 3.48 | 3.96 |
| FDS | FactSet Research Systems … | $216.81 | 8.11B | +25% | -26% | -82% | -3% | 16.53 | 4.51 | 4.25 | 11.46 | 140.19 | -9.73 | 52.72% | 32.23% | 25.72% | 29.13% | 19.41% | 14.28% | 0.71 | 13.29 | 1.40 | 1.20 | 1.26 | 1179.00% | 539.00% | 46.00% | 6.26% | 1.39 | 19.34% | 1.62% | 26.80% | 4.67% | 14.80 | 17.93 | 4.77 | 4.72 |
| FHN | First Horizon Corporation | $23.79 | 11.71B | +134% | +2% | -36% | -24% | 12.07 | 1.34 | 2.38 | 8.84 | 31.56 | 1.64 | 67.32% | 25.70% | 19.72% | 11.13% | 15.06% | 1.18% | 0.52 | 0.82 | 0.96 | 0.95 | 2.70 | 3824.00% | 97.00% | -4869.00% | 5.29% | 0.01 | 9.46% | 2.65% | 31.90% | 10.39% | 9.22 | 18.81 | 2.37 | 0.25 |
| SEIC | SEI Investments Company | $81.32 | 9.96B | -9% | -44% | -65% | +15% | — | 4.11 | 4.38 | 11.22 | — | 5.83 | 59.21% | 27.31% | 31.14% | 0.00% | 28.58% | 0.00% | 0.00 | 1625.16 | 3.29 | 3.12 | -0.46 | 2766.00% | 810.00% | 340.00% | 5.81% | 1.57 | 34.04% | 1.23% | — | 7.48% | 15.36 | 16.47 | 4.19 | 12.86 |
| SSB | SouthState Corporation | $98.67 | 9.92B | -53% | +1,533% | -34% | +407% | 12.50 | 1.10 | 2.66 | 3.76 | 97.89 | 1.79 | 68.35% | 27.86% | 21.26% | 10.68% | 17.17% | 1.41% | 0.15 | 0.97 | 0.22 | 0.22 | 0.62 | 1277.00% | 5701.00% | -21383.00% | -5.43% | -0.01 | -11.58% | 2.32% | 29.00% | 4.68% | 4.20 | -8.12 | 1.17 | -0.18 |
| UMBF | UMB Financial Corporation | $115.88 | 8.8B | -15% | +12,140% | +6% | +489% | 12.72 | 1.16 | 2.01 | 11.11 | 816.59 | 1.66 | 54.41% | 20.25% | 15.81% | 12.59% | 216.32% | 1.14% | 0.49 | 0.60 | 0.01 | 0.01 | 2.69 | 156.00% | 6852.00% | -1165.00% | 1.99% | 0.00 | 53.19% | 0.00% | 0.00% | 0.00% | 13.09 | 66.30 | 2.65 | -0.80 |
| WAL | Western Alliance Bancorpo… | $80.32 | 8.84B | -40% | +57% | +4% | +45% | 9.07 | 1.16 | 1.68 | -7.07 | 39.23 | 1.27 | 61.10% | 22.88% | 18.37% | 13.60% | -40.11% | 1.12% | 0.87 | 0.66 | 0.56 | 0.56 | 2.52 | 2313.00% | 517.00% | -115.00% | -31.52% | -0.06 | 113.09% | 2.09% | 18.90% | 2.86% | -7.07 | 3.06 | -1.62 | 0.00 |
| WBS | Webster Financial Corpora… | $72.13 | 11.63B | -51% | -9% | -37% | +22% | 11.41 | 1.21 | 2.59 | -2.06 | 32.38 | 1.82 | 60.80% | 28.49% | 22.67% | 10.77% | 34.14% | 1.23% | 0.45 | 0.83 | 0.41 | 0.41 | 3.13 | 3524.00% | 613.00% | -3839.00% | 7.37% | 0.02 | 28.70% | 2.33% | 26.60% | 7.52% | -2.06 | -3.07 | -0.59 | -0.18 |
| WTFC | Wintrust Financial Corpor… | $144.06 | 9.65B | -37% | +5% | -17% | +23% | 11.92 | 1.35 | 2.32 | 6.30 | 98.35 | 1.54 | 62.19% | 26.44% | 19.48% | 12.11% | 24.04% | 1.21% | 0.62 | 0.74 | 0.14 | 0.14 | 3.33 | 1212.00% | 666.00% | 3421.00% | 8.68% | 0.02 | 24.88% | 1.72% | 20.60% | 5.92% | 6.80 | 8.91 | 1.80 | -0.41 |
| XP | XP Inc. | $21.53 | 11.35B | +45% | -49% | -35% | -98% | 11.85 | 2.60 | 3.36 | 11.49 | 65.43 | 2.95 | 67.36% | 32.42% | 27.79% | 23.72% | 11.88% | 1.39% | 0.89 | 9.65 | 0.56 | 0.56 | 1.70 | 1810.00% | -821.00% | 910.00% | 19.33% | 0.15 | 25.07% | 0.81% | 9.60% | 165.43% | 12.15 | 6.07 | 3.94 | 0.09 |
About Morningstar, Inc.
Morningstar, Inc. provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors. It also provides Morningstar Data, an investment data spanning various databases, including equity fundamentals, managed investments, ESG factors, and market data; Morningstar Direct, an investment-analysis platform; Morningstar Managed Portfolios, an advisor service consisting of model portfolio that offers services for independent financial advisors, as well as offers asset allocation services for asset managers, broker/dealers, and insurance providers; Morningstar Advisor Workstation, a web-based research, financial planning, and proposal generation platform; and Morningstar.com, a website for individual investors. In addition, the company offers Morningstar Enterprise Components; Morningstar Credit Ratings that provides issuance and surveillance services for structured finance products and instruments; corporate credit estimates and operational risk assessment rankings; Morningstar Indexes for creating investment products; Morningstar workplace solutions, such as retirement accounts, fiduciary services, allocation funds, and custom models; and PitchBook Platform, research and analysis workstation for investment and research professionals. Further, its PitchBook provides a mobile application, excel plug-in, data feeds, and data solutions. The company was incorporated in 1984 and is headquartered in Chicago, Illinois.
- CEO
- Kunal Kapoor
- Employees
- 11.12K
- Beta
- 1.08
Disclaimer: Information on this page is provided for educational purposes only and does not constitute investment advice. Upside computed as ($118.34 ÷ $169.03) − 1 = -29.99% (DCF, example).