Morningstar Financial Ratios
NASDAQ: MORNFinanceInvestment ManagersUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Morningstar ratio analysis
Morningstar earned a net margin of 15.3% in FY 2025, down from 16.3% a year earlier. Gross margin was 61.0% compared with a median of 58.9% over the prior 9 years. Return on equity reached 30.6%, meaning Morningstar generated 0.31 dollars of profit for every dollar of shareholders' equity.
Debt-to-equity stood at 0.88 versus 0.43 the year before, and the current ratio was 0.99. At the end of FY 2025, MORN traded at 23.7 times earnings; across the 10 fiscal years shown, its year-end P/E ranged from 19.8 to 132.1, with a median of 41.1. Valuation ratios use the closing share price on each fiscal year-end date and diluted shares from the income statement; profitability and leverage ratios use reported annual figures. Current valuation multiples are on the statistics page.
Summary generated from market data by MetaCap's automated system. Methodology
Morningstar financial ratios (annual)
| Ratio | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E ratio (at fiscal year end) | 23.72 | 39.01 | 87.00 | 132.07 | 76.85 | 44.70 | 43.16 | 25.53 | 30.49 | 19.77 |
| Price / sales | 3.61 | 6.30 | 5.98 | 4.93 | 8.65 | 7.15 | 5.50 | 4.53 | 4.54 | 3.96 |
| Price / book | 7.22 | 8.85 | 9.18 | 7.64 | 10.39 | 7.81 | 5.99 | 4.95 | 5.14 | 4.54 |
| Gross margin | 61.0% | 60.6% | 58.6% | 58.3% | 58.9% | 60.0% | 59.0% | 59.7% | 57.6% | 56.9% |
| Operating margin | 21.5% | 21.3% | 11.3% | 9.0% | 15.1% | 15.5% | 16.1% | 21.2% | 18.6% | 22.6% |
| Net margin | 15.3% | 16.3% | 6.9% | 3.8% | 11.4% | 16.1% | 12.9% | 17.9% | 15.0% | 20.2% |
| Free cash flow margin | 18.1% | 19.7% | 9.7% | 9.0% | 20.5% | 22.1% | 21.6% | 23.4% | 20.1% | 18.9% |
| Return on equity (ROE) | 30.6% | 22.9% | 10.6% | 5.8% | 13.7% | 17.6% | 14.0% | 19.6% | 17.0% | 23.1% |
| Return on assets (ROA) | 10.4% | 10.4% | 4.1% | 2.0% | 6.8% | 8.3% | 6.4% | 12.6% | 9.7% | 11.9% |
| Debt / equity | 0.88 | 0.43 | 0.76 | 0.95 | 0.25 | 0.35 | 0.47 | 0.07 | — | 0.00 |
| Current ratio | 0.99 | 1.05 | 0.93 | 0.92 | 1.13 | 1.17 | 1.22 | 1.66 | 1.64 | 1.60 |
| Revenue growth | 7.5% | 11.6% | 9.0% | 10.1% | 22.3% | 17.9% | 15.6% | 11.9% | 14.2% | 1.2% |
| EPS growth | 3.4% | 160.8% | 100.6% | -63.1% | -14.1% | 47.2% | -17.2% | 33.6% | -14.5% | 24.0% |