---
schema_version: "secwatch.filing_event.v1"
accession: "0001289419-24-000081"
form_type: "8-K"
ticker: "MORN"
cik: "0001289419"
company_name: "Morningstar, Inc."
filed_at: "2024-08-26T23:59:59+00:00"
generated_at: "2026-05-31T07:35:38.199211+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Morningstar provides Q&A on customer ranking, cash flow surge, M&A stance, subscription trends

## Summary
- Top customer groups by ACV: private market investors, advisors/wealth managers, asset managers, fixed-income issuers, retirement market participants.
- H1 2024 operating cash flow rose 414% to $246.3M; free cash flow improved to $180.3M from -$11.9M YoY.
- Not pursuing Preqin; focus on organic growth but remains opportunistic for strategic M&A meeting IRR hurdles.
- Morningstar.com memberships declined from ~180k (2007) to ~100k (Dec 2023); recent uptick from search engine marketing.
- No new AssetMark deal details beyond what was disclosed in earlier filings.

## SEC filing metadata
- accession: 0001289419-24-000081
- form_type: 8-K
- ticker: MORN
- cik: 0001289419
- company_name: Morningstar, Inc.
- filed_at: 2024-08-26T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000081/0001289419-24-000081-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1289419/000128941924000081/morn-20240826.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001289419-24-000081
- JSON: https://secwatch.observer/filing/0001289419-24-000081.json
- Plain text: https://secwatch.observer/filing/0001289419-24-000081.txt

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