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 7,849 - -
Change - -37.62% 32.95% 18.16% -38.11% -12.18% - -
Enterprise Value (EV) 1 14,738 10,003 12,806 14,589 9,482 8,874 8,534 8,418
Change - -32.13% 28.02% 13.93% -35.01% -6.41% -3.83% -1.36%
P/E - 132x 87x 39.2x 24.5x 19.3x 16.8x 14.1x
PBR - - - 8.97x 7.51x 7.21x 5.9x 5.83x
PEG - - 1x 0x 7.25x 0.9x 1.2x 0.7x
Capitalization / Revenue - 4.91x 6x 6.35x 3.65x 2.96x 2.8x 2.63x
EV / Revenue - 5.35x 6.28x 6.41x 3.88x 3.34x 3.04x 2.82x
EV / EBITDA - 25.1x 29x 23.9x 13.2x 10.7x 9.39x 8.28x
EV / EBIT - 33.5x - 29.5x 16.3x 12.7x 11.1x 9.79x
EV / FCF - 59.4x 64.9x 32.5x 21.4x 17.6x 14.2x 12.9x
FCF Yield - 1.68% 1.54% 3.08% 4.67% 5.7% 7.05% 7.73%
Dividend per Share 2 - 1.44 1.5 1.67 1.88 2.003 2.203 2.921
Rate of return - 0.66% 0.52% 0.5% 0.87% 0.96% 1.05% 1.4%
EPS 2 - 1.64 3.29 8.58 8.87 10.86 12.44 14.87
Distribution rate - 87.8% 45.6% 19.5% 21.2% 18.4% 17.7% 19.6%
Net sales 1 - 1,871 2,039 2,275 2,446 2,654 2,808 2,980
EBITDA 1 - 398.8 440.9 611.2 716.5 830.9 909.2 1,017
EBIT 1 - 298.9 - 493.8 582.9 696.1 766.6 860.1
Net income 1 193.3 70.5 141.1 369.9 374.2 415.2 463.3 530.9
Net Debt 1 - 809.2 583.4 147.6 543.9 1,025 684.7 568.5
Reference price 2 341.99 216.59 286.24 336.76 217.31 209.24 209.24 209.24
Nbr of stocks (in thousands) 43,095 42,446 42,700 42,884 41,129 37,514 - -
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.($)
19.26x3.34x10.68x0.96% 7.85B
26.35x9.38x17.76x0.92% 125B
29.95x10.76x20.27x0.86% 83.77B
26.72x6.05x15.15x2.38% 46.72B
28.88x13.53x22.05x1.43% 41.81B
20.86x4.22x11.67x2.03% 33.15B
15.7x3.51x10.51x3.32% 20.33B
18.93x2.83x11.64x2.48% 19.66B
24.48x3.56x11.24x1.39% 18.95B
20.9x4.91x12.25x3.17% 16.57B
Average 23.20x 6.21x 14.32x 1.89% 41.4B
Weighted average by Cap. 25.62x 8.13x 16.62x 1.52%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Morningstar, Inc.

Historical PBR trend

Valuation ratios - PBR - Morningstar, Inc.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Morningstar, Inc.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Morningstar, Inc.


Year-on-year evolution of the Yield

Valuation ratios - Yield - Morningstar, Inc.
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