MORNINGSTAR, INC. (MORN) Spending and interest coverage
- R&D / revenue · 12 months: Value (m); Formula and calculation Research and development expense / revenue. Period ending 2026-06-30..
- Stock-based compensation / revenue · 12 months: Value 2.61%; Formula and calculation Share-based compensation / revenue. Period ending 2026-06-30..
- Interest coverage · 12 months: Value (m); Formula and calculation Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified..
Spending and interest coverage
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| R&D / revenue · 12 months | (m) | Research and development expense / revenue. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Stock-based compensation / revenue · 12 months | 2.61% | Share-based compensation / revenue. Period ending 2026-06-30. $67.00M ÷ $2.57B × 100 ≈ 2.61% |
| Interest coverage · 12 months | (m) | Estimated: average term debt × dated USD coupon proxy + average commercial paper × matching-currency disclosed rate at or before period end. Swaps, foreign-exchange, lease interest and amortization are not quantified. Calculation unavailable: missing inputs remain (m). |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Research and development spending | (m) | Research and Development Expense |
| Revenue | 2.57B USD | Revenue from Contract with Customer, Excluding Assessed Tax |
| Stock-based compensation | 67.00M USD | Share-based Payment Arrangement, Noncash Expense |
| Operating income | 603.90M USD | Operating Income (Loss) |
| Interest expense · reported / estimated | (m) | Interest Expense · Estimated expense assumptions |
Latest interest expense basis: (m). Estimated values carry *; expand each history row’s basis for its dated balances and rate assumptions.
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Research and development spending (USD) | Revenue (USD) | Stock-based compensation (USD) | Operating income (USD) | Interest expense · reported / estimated (USD) | R&D / revenue | SBC / revenue | Interest coverage | Interest expense basis |
|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | (m) | $2.57B | $67.00M | $603.90M | (m) | (m) | 2.61% | (m) | (m) |
| 2026-03-31 | (m) | $2.51B | $58.10M | $568.40M | (m) | (m) | 2.32% | (m) | (m) |
| 2025-12-31 | (m) | $2.45B | $56.40M | $526.60M | (m) | (m) | 2.31% | (m) | (m) |
| 2025-09-30 | (m) | $2.40B | $62.00M | $535.20M | (m) | (m) | 2.59% | (m) | (m) |
| 2025-06-30 | (m) | $2.35B | $56.60M | $522.90M | (m) | (m) | 2.41% | (m) | (m) |
| 2025-03-31 | (m) | $2.31B | $52.40M | $506.30M | (m) | (m) | 2.26% | (m) | (m) |
| 2024-12-31 | (m) | $2.28B | $54.70M | $484.80M | (m) | (m) | 2.40% | (m) | (m) |
| 2024-09-30 | (m) | $2.22B | $49.90M | $411.00M | (m) | (m) | 2.24% | (m) | (m) |
| 2024-06-30 | (m) | $2.17B | $51.40M | $365.50M | (m) | (m) | 2.37% | (m) | (m) |
| 2024-03-31 | (m) | $2.10B | $52.00M | $298.70M | (m) | (m) | 2.47% | (m) | (m) |
| 2023-12-31 | (m) | $2.04B | $52.80M | $230.60M | (m) | (m) | 2.59% | (m) | (m) |
| 2023-09-30 | (m) | $1.97B | $66.80M | $171.70M | (m) | (m) | 3.38% | (m) | (m) |
| 2023-06-30 | (m) | $1.93B | $74.20M | $123.70M | (m) | (m) | 3.85% | (m) | (m) |
| 2023-03-31 | (m) | $1.89B | $81.50M | $135.90M | (m) | (m) | 4.30% | (m) | (m) |
| 2022-12-31 | (m) | $1.87B | $83.20M | $167.80M | (m) | (m) | 4.45% | (m) | (m) |
| 2022-09-30 | (m) | $1.86B | $69.00M | $207.10M | (m) | (m) | 3.71% | (m) | (m) |
| 2022-06-30 | (m) | $1.82B | $58.00M | $252.90M | (m) | (m) | 3.19% | (m) | (m) |
| 2022-03-31 | (m) | $1.76B | $47.70M | $246.20M | (m) | (m) | 2.70% | (m) | (m) |
| 2021-12-31 | (m) | $1.70B | $41.90M | $257.00M | (m) | (m) | 2.47% | (m) | (m) |
| 2021-09-30 | (m) | $1.62B | $40.10M | $247.30M | (m) | (m) | 2.48% | (m) | (m) |
| 2021-06-30 | (m) | $1.55B | $38.90M | $223.80M | (m) | (m) | 2.52% | (m) | (m) |
| 2021-03-31 | (m) | $1.46B | $37.40M | $237.90M | (m) | (m) | 2.56% | (m) | (m) |
| 2020-12-31 | (m) | $1.39B | $36.60M | $215.20M | (m) | (m) | 2.63% | (m) | (m) |
| 2020-09-30 | (m) | $1.34B | $38.60M | $189.80M | (m) | (m) | 2.88% | (m) | (m) |
| 2020-06-30 | (m) | $1.30B | $39.50M | $195.10M | (m) | (m) | 3.04% | (m) | (m) |
| 2020-03-31 | (m) | $1.24B | $41.70M | $184.60M | (m) | (m) | 3.35% | (m) | (m) |
| 2019-12-31 | (m) | $1.18B | $44.40M | $189.60M | (m) | (m) | 3.77% | (m) | (m) |
| 2019-09-30 | (m) | $1.11B | $41.10M | $199.20M | (m) | (m) | 3.71% | (m) | (m) |
| 2019-06-30 | (m) | $1.06B | $37.60M | $215.00M | (m) | (m) | 3.56% | (m) | (m) |
| 2019-03-31 | (m) | $1.04B | $35.10M | $217.80M | (m) | (m) | 3.39% | (m) | (m) |
| 2018-12-31 | (m) | $1.02B | $31.70M | $215.80M | (m) | (m) | 3.11% | (m) | (m) |
| 2018-09-30 | (m) | $1.00B | $31.50M | $209.10M | (m) | (m) | 3.15% | (m) | (m) |
| 2018-06-30 | (m) | $968.90M | $29.70M | $196.50M | (m) | (m) | 3.07% | (m) | (m) |
| 2018-03-31 | (m) | $945.70M | $25.40M | $188.90M | (m) | (m) | 2.69% | (m) | (m) |
| 2017-12-31 | (m) | $911.70M | $24.10M | $169.80M | (m) | (m) | 2.64% | (m) | (m) |
| 2017-09-30 | (m) | $880.80M | $20.40M | $177.10M | (m) | (m) | 2.32% | (m) | (m) |
| 2017-06-30 | (m) | $847.00M | $17.70M | $168.50M | (m) | (m) | 2.09% | (m) | (m) |
| 2017-03-31 | (m) | $816.00M | $15.80M | $166.90M | (m) | (m) | 1.94% | (m) | (m) |
| 2016-12-31 | (m) | $798.60M | $14.50M | $180.80M | (m) | (m) | 1.82% | (m) | (m) |
| 2016-09-30 | (m) | $788.00M | $14.50M | $181.00M | (m) | (m) | 1.84% | (m) | (m) |
| 2016-06-30 | (m) | $787.20M | $16.30M | $183.00M | (m) | (m) | 2.07% | (m) | (m) |
| 2016-03-31 | (m) | $791.10M | $17.10M | $188.40M | (m) | (m) | 2.16% | (m) | (m) |
| 2015-12-31 | (m) | $788.80M | $17.40M | $190.60M | (m) | (m) | 2.21% | (m) | (m) |
| 2015-09-30 | (m) | $783.57M | $17.82M | $187.09M | (m) | (m) | 2.27% | (m) | (m) |
| 2015-06-30 | (m) | $781.37M | $18.22M | $186.09M | (m) | (m) | 2.33% | (m) | (m) |
| 2015-03-31 | (m) | $768.67M | $18.02M | $111.59M | (m) | (m) | 2.34% | (m) | (m) |
| 2014-12-31 | (m) | $760.07M | $17.62M | $105.59M | (m) | (m) | 2.32% | (m) | (m) |
| 2014-09-30 | (m) | $744.16M | $17.14M | $100.91M | (m) | (m) | 2.30% | (m) | (m) |
| 2014-06-30 | (m) | $724.53M | $15.61M | $100.26M | (m) | (m) | 2.15% | (m) | (m) |
| 2014-03-31 | (m) | $710.58M | $15.20M | $168.63M | (m) | (m) | 2.14% | (m) | (m) |
| 2013-12-31 | (m) | $698.27M | $15.04M | $170.65M | $228.00K | (m) | 2.15% | 748.48× | Reported |
| 2013-09-30 | (m) | $688.38M | $18.46M | $168.03M | (m) | (m) | 2.68% | (m) | (m) |
| 2013-06-30 | $53.42M | $675.85M | $19.04M | $163.28M | (m) | 7.90% | 2.82% | (m) | (m) |
| 2013-03-31 | $51.71M | $666.38M | $18.82M | $160.83M | (m) | 7.76% | 2.82% | (m) | (m) |
| 2012-12-31 | $51.44M | $658.29M | $18.91M | $150.67M | $311.00K | 7.81% | 2.87% | 484.46× | Reported |
| 2012-09-30 | $52.67M | $646.25M | $15.45M | $145.53M | (m) | 8.15% | 2.39% | (m) | (m) |
| 2012-06-30 | $53.30M | $645.35M | $15.41M | $139.53M | (m) | 8.26% | 2.39% | (m) | (m) |
| 2012-03-31 | $54.53M | $640.39M | $15.52M | $137.00M | (m) | 8.52% | 2.42% | (m) | (m) |
| 2011-12-31 | $53.16M | $631.40M | $15.30M | $138.41M | $1.32M | 8.42% | 2.42% | 105.02× | Reported |
| 2011-09-30 | $52.90M | $623.98M | $14.90M | $136.57M | (m) | 8.48% | 2.39% | (m) | (m) |
| 2011-06-30 | $52.13M | $603.75M | $14.69M | $132.87M | (m) | 8.63% | 2.43% | (m) | (m) |
| 2011-03-31 | $50.34M | $578.83M | $14.51M | $121.93M | (m) | 8.70% | 2.51% | (m) | (m) |
| 2010-12-31 | $49.24M | $555.35M | $13.79M | $121.06M | (m) | 8.87% | 2.48% | (m) | (m) |
| 2010-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2010-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-12-31 | $38.38M | $479.00M | $11.59M | $124.67M | (m) | 8.01% | 2.42% | (m) | (m) |
| 2009-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-12-31 | $40.34M | $502.46M | $11.28M | $138.88M | (m) | 8.03% | 2.25% | (m) | (m) |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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