NASDAQ$MORN
Morningstar Inc. · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Morningstar reported strong Q4 2024 earnings with revenue growth across key business segments.
Morningstar, Inc. reported a 9.7% increase in Q4 2024 revenue to $591.0 million, with adjusted EPS growing 8.6% to $2.14. Operating income rose 78.2% to $168.2 million, driven by the sale of US TAMP assets. Free cash flow improved to $112.8 million. PitchBook and Morningstar Credit led revenue growth, supported by higher demand for investment insights and analytics.
- Revenue grew 9.7% year-over-year to $591.0 million, with organic revenue increasing 10.6%.
- Operating income surged 78.2% to $168.2 million, benefiting from a $64.0 million asset sale gain.
- Diluted EPS increased 58.5% to $2.71, while adjusted EPS grew 8.6% to $2.14.
- PitchBook and Morningstar Credit were the largest contributors to revenue growth.
Headline financials
Revenue & EPS history
Morningstar · Revenue · Quarterly
$591M
Revenue by segment
Morningstar · $409M total across 4 segments · Q2 2023
- Morningstar Data & Analytics$194M—47.4%
- PitchBook$134M—32.7%
- Morningstar Wealth$50M—12.2%
- Morningstar Retirement$31.4M—7.7%
Forward guidance
Morningstar expects continued growth in PitchBook and Morningstar Credit segments, along with enhanced AI-driven product offerings. The company remains focused on expanding its financial services ecosystem while navigating macroeconomic uncertainties.
Tailwinds
- Projected continued revenue growth in core business segments.
- Expansion of AI-driven tools to enhance client workflows.
- Increased demand for investment insights and analytics services.
- Strong market performance supporting AUMA growth.
- Operational efficiency improvements leading to margin expansion.
Headwinds
- Potential headwinds from economic uncertainty affecting financial markets.
- Higher compensation costs impacting profitability.
- Regulatory challenges in global markets.
- Increased competition in financial data and analytics space.
- Volatility in asset-linked revenue streams.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
+0.5%
Avg return
Earnings day
+0.0%
Avg return
5 days after
+0.4%
Avg return
30 days after
53%
36 / 68 earnings
Positive
+12.6%
Q3 2018
Best reaction
-12.9%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -10.0% | -11.2% | -3.0% | |
| Q4 2025 | +2.3% | +5.7% | +19.0% | |
| Q3 2025 | +2.8% | +1.4% | +2.9% | |
| Q1 2025 | -0.5% | +3.1% | +8.3% | |
| Q4 2024 | -2.8% | -6.5% | -7.5% | |
| Q3 2024 | -3.5% | -2.7% | +0.8% | |
| Q2 2024 | +4.5% | +4.7% | +1.6% | |
| Q1 2024 | -4.3% | -5.5% | -0.9% | |
| Q4 2023 | -0.2% | +8.1% | +9.8% | |
| Q3 2023 | +11.1% | +12.6% | +23.7% | |
| Q2 2023 | +6.5% | +6.5% | +2.7% | |
| Q1 2023 | -12.9% | -7.9% | +1.7% | |
| Q4 2022 | -11.1% | -11.0% | -19.6% | |
| Q3 2022 | +2.1% | +4.7% | +11.2% | |
| Q2 2022 | +3.5% | -0.0% | -5.8% | |
| Q1 2022 | +1.4% | -4.4% | -0.6% | |
| Q4 2021 | +6.4% | +2.0% | +1.3% | |
| Q3 2021 | +4.8% | +3.1% | +1.4% | |
| Q2 2021 | +3.0% | +5.6% | +7.0% | |
| Q1 2021 | +3.7% | +3.5% | -7.7% | |
| Q4 2020 | -1.2% | -8.9% | -5.6% | |
| Q3 2020 | +6.9% | +6.5% | +8.8% | |
| Q2 2020 | +4.9% | +2.8% | +0.1% | |
| Q1 2020 | +9.0% | +3.8% | +7.1% | |
| Q4 2019 | -2.5% | -6.4% | -35.4% | |
| Q3 2019 | -7.2% | -4.7% | -1.1% | |
| Q2 2019 | +0.6% | -1.0% | -0.8% | |
| Q1 2019 | -0.9% | +2.9% | -2.7% | |
| Q4 2018 | +0.3% | +0.6% | -3.9% | |
| Q3 2018 | +12.6% | +4.3% | -0.8% | |
| Q2 2018 | -2.7% | -4.1% | -0.9% | |
| Q1 2018 | +6.2% | +5.0% | +13.8% | |
| Q4 2017 | -1.1% | -1.7% | -1.3% | |
| Q3 2017 | +1.9% | -2.3% | +6.3% | |
| Q2 2017 | +2.9% | +3.4% | +1.6% | |
| Q1 2017 | -4.1% | -6.1% | -6.8% | |
| Q4 2016 | +1.8% | +2.2% | -2.0% | |
| Q3 2016 | -6.4% | -7.2% | -4.8% | |
| Q2 2016 | +1.0% | +0.7% | -1.8% | |
| Q1 2016 | -4.2% | — | — | |
| Q4 2015 | -0.5% | — | — | |
| Q3 2015 | -1.9% | — | — | |
| Q2 2015 | +3.2% | — | — | |
| Q1 2015 | +3.5% | — | — | |
| Q4 2014 | +10.7% | — | — | |
| Q3 2014 | -0.3% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | -4.6% | — | — | |
| Q4 2013 | +4.3% | — | — | |
| Q3 2013 | +4.9% | — | — | |
| Q2 2013 | +0.7% | — | — | |
| Q1 2013 | +0.5% | — | — | |
| Q4 2012 | +1.9% | — | — | |
| Q3 2012 | -1.3% | — | — | |
| Q2 2012 | +2.4% | — | — | |
| Q1 2012 | +1.7% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q3 2011 | -0.4% | — | — | |
| Q2 2011 | -2.5% | — | — | |
| Q1 2010 | -1.7% | — | — | |
| Q1 2011 | +1.5% | — | — | |
| Q4 2010 | -2.2% | — | — | |
| Q4 2008 | -2.2% | — | — | |
| Q3 2009 | +0.1% | — | — | |
| Q3 2010 | +0.1% | — | — | |
| Q2 2010 | -1.1% | — | — | |
| Q4 2009 | -1.1% | — | — | |
| Q2 2009 | -1.1% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro