secwatch.observer — SEC 8-K summary
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Issuer:     Morningstar, Inc. (MORN)
CIK:        0001289419
Form:       8-K
Filed at:   2026-07-29T20:28:40+00:00
Accession:  0001289419-26-000042
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Morningstar Q2 revenue up 9.6% to $663M; adjusted EPS $3.10, up 29%
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- Revenue $663.2M (+9.6% reported, +6.8% organic); diluted EPS $2.83 (+35.4%), adjusted EPS $3.10 (+29.2%).
- Operating margin 24.2% (vs 20.7% prior year); adjusted operating margin 26.5% (vs 23.7%).
- Free cash flow $122.5M (+96.3%); share repurchases $100M in Q2, $400M YTD (5.6% float reduction).
- Morningstar Credit revenue $104.9M (+23.4%) led by US structured finance; PitchBook revenue $174.7M (+4.9%).
- CRSP acquisition accretive to margins; indexes rebranded under Morningstar name; Vanguard ETFs renamed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1289419/000128941926000042/0001289419-26-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1289419/000128941926000042/morn-20260729.htm
  HTML page:      https://secwatch.observer/filing/0001289419-26-000042

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer