Company Valuation: Morningstar, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,738 9,193 12,222 14,442 8,938 7,452 - -
Change - -37.62% 32.95% 18.16% -38.11% -16.62% - -
Enterprise Value (EV) 1 14,738 10,003 12,806 14,589 9,482 8,618 8,295 8,006
Change - -32.13% 28.02% 13.93% -35.01% -9.11% -3.75% -3.48%
P/E - 132x 87x 39.2x 24.5x 18.2x 16x 13.7x
PBR - - - 8.97x 7.51x 7.38x 6.64x 5.63x
PEG - - 1x 0x 7.25x 0.8x 1.1x 0.8x
Capitalization / Revenue - 4.91x 6x 6.35x 3.65x 2.81x 2.67x 2.53x
EV / Revenue - 5.35x 6.28x 6.41x 3.88x 3.25x 2.97x 2.71x
EV / EBITDA - 25.1x 29x 23.9x 13.2x 10.4x 9.13x 8.01x
EV / EBIT - 33.5x - 29.5x 16.3x 12.4x 10.7x 8.82x
EV / FCF - 59.4x 64.9x 32.5x 21.4x 15.3x 13.8x -
FCF Yield - 1.68% 1.54% 3.08% 4.67% 6.53% 7.24% -
Dividend per Share 2 - 1.44 1.5 1.67 1.88 2.013 2.213 2.867
Rate of return - 0.66% 0.52% 0.5% 0.87% 1.01% 1.11% 1.44%
EPS 2 - 1.64 3.29 8.58 8.87 10.93 12.45 14.54
Distribution rate - 87.8% 45.6% 19.5% 21.2% 18.4% 17.8% 19.7%
Net sales 1 - 1,871 2,039 2,275 2,446 2,648 2,789 2,950
EBITDA 1 - 398.8 440.9 611.2 716.5 827.9 909 999.7
EBIT 1 - 298.9 - 493.8 582.9 694.9 772.3 908.2
Net income 1 193.3 70.5 141.1 369.9 374.2 416.5 462.3 522.2
Net Debt 1 - 809.2 583.4 147.6 543.9 1,166 842.3 553.4
Reference price 2 341.99 216.59 286.24 336.76 217.31 198.66 198.66 198.66
Nbr of stocks (in thousands) 43,095 42,446 42,700 42,884 41,129 37,514 - -
Announcement Date 2/24/22 2/23/23 2/22/24 2/26/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.49x4.53x12.57x1.88% 36.16B
12.66x - - - 1.28B
29.31x2.64x10.32x - 372M
Average 21.49x 3.59x 11.44x 1.88% 12.6B
Weighted average by Cap. 22.23x 4.51x 12.55x 1.88%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

  1. Stock Market
  2. Stocks
  3. MORN Stock
  4. MRS Stock
  5. Valuation Morningstar, Inc.