Fri, Feb 28, 8:46 PM (60 days ago)
**Morningstar, Inc. (MORN) 2024 Financial Summary** Morningstar, Inc. reported robust financial performance for the year ending December 31, 2024, with total revenue increasing by 11.6% to $2,275.1 million, driven by strong demand across its segments, particularly PitchBook and Morningstar Data and Analytics. Operating income surged 110.2% to $484.8 million, resulting in an operating margin of 21.3%, a significant improvement from the prior year's 11.3%. Net income reached $369.9 million, translating to earnings per share (EPS) of $8.58, up from $3.29 in 2023. Operating expenses grew modestly by 2.6% to $1,854.3 million, with cost of revenue accounting for 39.4% of total revenue. The company generated free cash flow of $448.9 million, marking a 127.5% increase year-over-year. Strategically, Morningstar divested its Commodity and Energy Data business and sold customer assets from its US TAMP, realizing substantial gains. The company anticipates continued growth through innovation and strategic partnerships, although it faces risks from regulatory changes and market volatility. Morningstar's financial condition remains strong, with $551.0 million in cash and cash equivalents as of year-end. The company is well-positioned in the market, focusing on enhancing its data and analytics capabilities while navigating a complex regulatory landscape.