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Morningstar, Inc.
MORNFinancial ServicesNASDAQUS
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Estimates, scoring, valuation assumptions, and peer comparison in one research surface.
Change the assumptions to see how revenue growth, margins, and exit multiples can move fair value.
| Year | Revenue | Margin | Profit | Free cash flow | Present value |
|---|---|---|---|---|---|
| 2026 | $2.45B | 15.3% | $374.16M | $442.64M | N/A |
| 2027 | $2.63B | 15.3% | $402.97M | $476.72M | $433.38M |
| 2028 | $2.84B | 15.3% | $434.00M | $513.43M | $424.32M |
| 2029 | $3.06B | 15.3% | $467.42M | $552.96M | $415.45M |
| 2030 | $3.29B | 15.3% | $503.41M | $595.54M | $406.76M |
| 2031 | $3.54B | 15.3% | $542.17M | $641.39M | $398.26M |
Projects EPS forward, applies an exit P/E, then discounts the result back to today.
| Base EPS | $8.87 | 2025-12-31 |
| EPS growth | +3.4% | Forecast years: 5 |
| Future EPS | $10.484 | EPS × (1 + G)^5 |
| Base P/E | 24.3 | P/E |
| Future price | $254.76 | Future EPS × P/E |
| Fair value today | $158.19 | PV @ 10.0% |
| 30% safety price | $110.73 | Margin of safety |
| 50% safety price | $79.093 | Margin of safety |
| Discount rate \\ Terminal growth | 1.5% | 2.5% | 3.5% |
|---|---|---|---|
| 9.0% | $140.72 | $159.74 | $185.67 |
| 10.0% | $121.48 | $135.50 | $153.84 |
| 11.0% | $106.31 | $116.99 | $130.51 |