Quarterly ResultOct 28, 2026, 04:41 PM
Morningstar Q3 Revenue Up 8.9% to $672.1M; Operating Income Jumps 31%
AI Summary
Morningstar, Inc. announced its third-quarter 2026 financial results, reporting an 8.9% increase in revenue to $672.1 million and a 31.0% rise in operating income to $167.4 million. The company also highlighted strong growth in its Morningstar Direct Platform and Morningstar Credit segments, while PitchBook saw a slight decrease in adjusted operating income. Morningstar continued its capital allocation strategy with $100 million in share repurchases during the quarter.
Key Highlights
- Morningstar reported Q3 revenue of $672.1 million, an increase of 8.9% YoY.
- Reported operating income increased 31.0% to $167.4 million; adjusted operating income increased 26.1% to $189.9 million.
- Diluted net income per share increased 41.0% to $3.06; adjusted diluted net income per share increased 36.5% to $3.48.
- Share repurchases totaled $100.0 million in Q3 2026, with $500.0 million year-to-date.
- Morningstar Direct Platform revenue grew 5.4% to $222.5 million.
- PitchBook revenue grew 3.9% to $175.6 million, but adjusted operating income decreased 1.1%.
- Morningstar Credit revenue surged 18.3% to $107.8 million, with adjusted operating income up 44.5%.
- Morningstar Wealth revenue decreased 4.3% to $59.4 million.
Price Impact
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