Investment research firm Morningstar (NASDAQ:MORN) reported revenue ahead of Wall Street’s expectations in Q2 CY2026, with sales up 9.6% year on year to $663.2 million. Its GAAP profit of $2.83 per share was 14.6% above analysts’ consensus estimates.
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Morningstar (MORN) Q2 CY2026 Highlights:
- Revenue: $663.2 million vs analyst estimates of $648.7 million (9.6% year-on-year growth, 2.2% beat)
- Pre-tax Profit: $147 million (22.2% margin)
- EPS (GAAP): $2.83 vs analyst estimates of $2.47 (14.6% beat)
- Market Capitalization: $7.38 billion
“We are continuing to deliver profitable growth with meaningful increases in operating and free cash flows," said Kunal Kapoor, Morningstar's CEO.
Company Overview
Founded in 1984 by Joe Mansueto with just $80,000 in personal savings, Morningstar (NASDAQ:MORN) provides independent investment data, research, and analysis tools that help investors, advisors, and institutions make informed financial decisions.
Revenue Growth
A company’s long-term sales performance can indicate its overall quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, Morningstar grew its revenue at a decent 10.7% compounded annual growth rate. Its growth was slightly above the average financials company and shows its offerings resonate with customers.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. Morningstar’s annualized revenue growth of 8.8% over the last two years is below its five-year trend, but we still think the results were respectable. 
Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Morningstar reported year-on-year revenue growth of 9.6%, and its $663.2 million of revenue exceeded Wall Street’s estimates by 2.2%.
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Key Takeaways from Morningstar’s Q2 Results
We enjoyed seeing Morningstar beat analysts’ EBITDA expectations this quarter. We were also glad its EPS outperformed Wall Street’s estimates. Zooming out, we think this quarter featured some important positives. The stock remained flat at $199.53 immediately following the results.
So should you invest in Morningstar right now? If you’re making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here (it’s free).
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