---
schema_version: "secwatch.filing_event.v1"
accession: "0001289419-24-000006"
form_type: "8-K"
ticker: "MORN"
cik: "0001289419"
company_name: "Morningstar, Inc."
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T16:46:59.769885+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Morningstar Q4 revenue up 13.4% to $538.7M; EPS jumps to $1.71 from $0.08

## Summary
- Revenue $538.7M (+13.4% YoY); organic growth 12.6%. Full-year revenue crosses $2B.
- Diluted EPS $1.71 (vs $0.08); adjusted EPS $1.97 (vs $0.58), up 239.7%.
- Operating income $94.4M (+165.9%); adjusted operating income $113M (+70.2%).
- Q4 free cash flow $107.8M (+59.9%).
- Jason Dubinsky named principal accounting officer in addition to CFO role.

## SEC filing metadata
- accession: 0001289419-24-000006
- form_type: 8-K
- ticker: MORN
- cik: 0001289419
- company_name: Morningstar, Inc.
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000006/0001289419-24-000006-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000006/morn-20240223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001289419-24-000006
- JSON: https://secwatch.observer/filing/0001289419-24-000006.json
- Plain text: https://secwatch.observer/filing/0001289419-24-000006.txt

## Key facts
- Earnings Releases
  Morningstar, Inc. reported the fourth quarter ended December 31, 2023 results: revenue $538.7 million, net income $73.5 million, or $1.71 per diluted share, EPS $1.71 per diluted share.
  - Period: the fourth quarter ended December 31, 2023
  - Revenue: $538.7 million
  - Net income: $73.5 million, or $1.71 per diluted share
  - EPS: $1.71 per diluted share
  - Result: reported results
  source text: context on its quarterly results and business and can be found at shareholders.morningstar.com. Fourth-Quarter 2023 Financial Highlights • Reported revenue increased 13.4% to $538.7 million compared to the prior-year period; organic revenue increased 12.6%. • Reported operating income increased 165.9% to $94.4 million; adjusted operating income increased 70.2%. •
  evidence_url: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000006/0001289419-24-000006-index.htm
- Earnings Releases
  Morningstar, Inc. reported Full-Year 2023 results: revenue $2.0 billion, EPS $3.29 per diluted share.
  - Period: Full-Year 2023
  - Revenue: $2.0 billion
  - EPS: $3.29 per diluted share
  - Result: reported results
  source text: business. For the full year, the Company reported positive revenue growth, with particular strength in its license-based products. "We finished 2023 on a strong note, crossing $2 billion in revenue for the fiscal year and delivering meaningful increases in organic revenue, margins, and cash flow for the quarter" said Kunal Kapoor, Morningstar's chief executive
  evidence_url: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000006/0001289419-24-000006-index.htm
- Executive change
  Jason Dubinsky changed role as principal accounting officer (in addition to Chief Financial Officer) at Morningstar, Inc..
  - Action: designated
  - Role: principal accounting officer (in addition to Chief Financial Officer)
  source text: the Company designated Jason Dubinsky (age 50) as principal accounting officer, in addition to his current role as Chief Financial Officer (and principal financial officer) of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000006/0001289419-24-000006-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.