Morningstar, Inc. reported second-quarter 2026 results with revenue of $663.2M and diluted EPS of $2.83, versus $605.1M and $2.09 in the year-ago quarter, respectively, as net income rose to $107.8M from $89M a year earlier.
Financial Highlights
- Revenue was $663.2M for Q2 2026, compared with $605.1M in the prior-year quarter; YoY change 9.6%.
- Net income was $107.8M for Q2 2026, compared with $89.0M in the prior-year quarter; YoY change 21.1%.
- Diluted EPS was $2.83 for Q2 2026, compared with $2.09 in the prior-year quarter; YoY change 35.4%.
Business Highlights
- Consolidated revenue growth was led by Morningstar Credit, Direct Platform, and PitchBook, driving a roughly 9.6% increase for the quarter and 10.2% YTD.
- License, asset-based, and transaction revenues all grew; asset-based revenue rose 17.5% and transaction revenue increased 18.0%, key contributors to topline expansion.
- Morningstar Indexes and Credit businesses showed notable expansion, with Indexes asset-linked growth aided by the CRSP integration.
- The company increased investments in cloud and AI infrastructure and related technology, which raised cost of revenue as part of migration and AI initiatives.
- Retirement and Wealth AUMA improved (Retirement AUMA +9%), supporting asset-based revenue and net flows.
Original SEC Filing:
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