Filing Flows › Morningstar (MORN) › License-based revenue
Morningstar (MORN) License-based revenue by quarter
Morningstar's License-based revenue was $459M in Q3 2026 (third quarter 2026), +0.9% from Q2 2026. Over the last 7 quarters it ranged from $418M (Q1 2025) to $459M (Q3 2026).
| Quarter | License-based revenue | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | $459M | +0.9% | +6% |
| Q2 2026 | $455M | +2% | +6% |
| Q1 2026 | $445M | +2% | +6% |
| Q4 2025 | $438M | +0.6% | — |
| Q3 2025 | $435M | +2% | — |
| Q2 2025 | $428M | +2% | — |
| Q1 2025 | $418M | — | — |
Q3 2026 at a glance
Morningstar, Q3 2026: revenue $672M (+9% year over year), operating margin 24.9%, net earnings $116M, operating cash flow $191M. The chart follows the revenue to costs, profit and cash.
Questions
What is Morningstar's License-based revenue?
Morningstar's License-based revenue was $459M in Q3 2026 (third quarter 2026), +0.9% from Q2 2026.
How has Morningstar's License-based revenue changed?
Over the last 7 quarters it ranged from $418M (Q1 2025) to $459M (Q3 2026).