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 5,881 - -
Change - -37.62% 32.95% 18.16% -38.11% -34.2% - -
Enterprise Value (EV) 1 14,738 10,003 12,806 14,589 9,482 6,862 6,561 6,447
Change - -32.13% 28.02% 13.93% -35.01% -27.63% -4.38% -1.74%
P/E - 132x 87x 39.2x 24.5x 14.9x 12.9x 10.8x
PBR - - - 8.97x 7.51x 5.3x 4.43x 4.62x
PEG - - 1x 0x 7.25x 0.9x 0.9x 0.5x
Capitalization / Revenue - 4.91x 6x 6.35x 3.65x 2.24x 2.12x 2x
EV / Revenue - 5.35x 6.28x 6.41x 3.88x 2.62x 2.37x 2.19x
EV / EBITDA - 25.1x 29x 23.9x 13.2x 8.49x 7.39x 6.5x
EV / EBIT - 33.5x - 29.5x 16.3x 10.1x 8.76x 7.25x
EV / FCF - 59.4x 64.9x 32.5x 21.4x 13.8x 12.5x -
FCF Yield - 1.68% 1.54% 3.08% 4.67% 7.26% 7.99% -
Dividend per Share 2 - 1.44 1.5 1.67 - 2.013 2.213 2.866
Rate of return - 0.66% 0.52% 0.5% - 1.3% 1.43% 1.85%
EPS 2 - 1.64 3.29 8.58 8.87 10.38 11.95 14.38
Distribution rate - 87.8% 45.6% 19.5% - 19.4% 18.5% 19.9%
Net sales 1 - 1,871 2,039 2,275 2,446 2,623 2,771 2,942
EBITDA 1 - 398.8 440.9 611.2 716.5 808 887.4 992.1
EBIT 1 - 298.9 - 493.8 582.9 676.1 749.2 889.6
Net income 1 193.3 70.5 141.1 369.9 374.2 401.4 451.6 518.4
Net Debt 1 - 809.2 583.4 147.6 543.9 980.6 680.3 566.2
Reference price 2 341.99 216.59 286.24 336.76 217.31 154.65 154.65 154.65
Nbr of stocks (in thousands) 43,095 42,446 42,700 42,884 41,129 38,028 - -
Announcement Date 24/2/22 23/2/23 22/2/24 26/2/25 12/2/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.9x2.62x8.49x1.3% 5.88B
18.4x3.83x10.61x2.31% 29.69B
9.99x - - - 1.01B
29.12x2.61x10.21x - 369M
Average 18.10x 3.02x 9.77x 1.81% 9.24B
Weighted average by Cap. 17.72x 3.61x 10.26x 2.15%

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

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  3. MORN Stock
  4. Valuation Morningstar, Inc.