MORN

Morningstar, Inc.

Financial Services · $7.0B market cap

Share price

$183.55

close of Oct 3, 2026

Fair value

$244.00

Sticker Price

Payback Price

$97.60

buy price

Undervalued

MORN is Undervalued: at $183.55 it trades 25% below its fair value of $244.00. Its buy price (Payback Price) is $97.60, 47% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.

How we valued it

Free Cash Flow. Sales grew 9% a year over the last 3 years, below the 15% we look for in a fast grower, so we value it on its free cash flow instead of an earnings forecast.

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth9.2% a year✗

Equity per share growth7.4% a year✗

Sales growth10.3% a year✓

Free cash flow growth8.8% a year✗

Return on invested capital12.4%✓

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Superinvestors

1 of the investors we track holds MORN. Who we track

Robert Vinall

RV Capital GmbH · as of Q2 2026

$577K

3,700 shares

Insider activity

Since Aug 3, 2026: no open-market purchases, 66 sales worth $20.7M and 4 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

Mansueto Joseph D

Executive Chairman · 2026-08-24

Sold

$50K

Mansueto Joseph D

Executive Chairman · 2026-08-24

Sold

$290K

Mansueto Joseph D

Executive Chairman · 2026-08-24

Sold

$215K

Mansueto Joseph D

Executive Chairman · 2026-08-24

Sold

$380K

Mansueto Joseph D

Executive Chairman · 2026-08-24

Sold

$257K

Show all 66 sales

Mansueto Joseph D

Executive Chairman · 2026-08-24

Sold

$48K

Mansueto Joseph D

Executive Chairman · 2026-08-21

Sold

$58K

Mansueto Joseph D

Executive Chairman · 2026-08-21

Sold

$829K

Mansueto Joseph D

Executive Chairman · 2026-08-20

Sold

$109K

Mansueto Joseph D

Executive Chairman · 2026-08-20

Sold

$64K

Mansueto Joseph D

Executive Chairman · 2026-08-20

Sold

$417K

Mansueto Joseph D

Executive Chairman · 2026-08-20

Sold

$291K

Mansueto Joseph D

Executive Chairman · 2026-08-20

Sold

$672K

Mansueto Joseph D

Executive Chairman · 2026-08-19

Sold

$41K

Mansueto Joseph D

Executive Chairman · 2026-08-19

Sold

$80K

Mansueto Joseph D

Executive Chairman · 2026-08-19

Sold

$383K

Mansueto Joseph D

Executive Chairman · 2026-08-19

Sold

$649K

Mansueto Joseph D

Executive Chairman · 2026-08-19

Sold

$90K

Mansueto Joseph D

Executive Chairman · 2026-08-19

Sold

$143K

Mansueto Joseph D

Executive Chairman · 2026-08-19

Sold

$24K

Mansueto Joseph D

Executive Chairman · 2026-08-18

Sold

$139K

Mansueto Joseph D

Executive Chairman · 2026-08-18

Sold

$22K

Mansueto Joseph D

Executive Chairman · 2026-08-18

Sold

$335K

Mansueto Joseph D

Executive Chairman · 2026-08-18

Sold

$570K

Mansueto Joseph D

Executive Chairman · 2026-08-18

Sold

$405K

Mansueto Joseph D

Executive Chairman · 2026-08-18

Sold

$190K

Mansueto Joseph D

Executive Chairman · 2026-08-17

Sold

$312K

Mansueto Joseph D

Executive Chairman · 2026-08-17

Sold

$1.2M

Mansueto Joseph D

Executive Chairman · 2026-08-14

Sold

$58K

Mansueto Joseph D

Executive Chairman · 2026-08-14

Sold

$50K

Mansueto Joseph D

Executive Chairman · 2026-08-14

Sold

$582K

Mansueto Joseph D

Executive Chairman · 2026-08-14

Sold

$809K

Mansueto Joseph D