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    Morningstar Inc (MORN)

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    Business Description

    Morningstar, Inc. is a global provider of independent investment insights, focusing on delivering data, research, and design solutions to simplify complex investment information. The company offers a range of products and services that empower investment decision-making, including data analytics, private capital market research, investment management services, credit ratings, and retirement planning solutions. Operating through multiple segments, Morningstar serves a diverse clientele worldwide, leveraging its expertise to enhance investment strategies and outcomes.

    1. Morningstar Data and Analytics - Provides comprehensive data, research, and investment analysis tools, including Morningstar Data, Morningstar Direct, and Morningstar Advisor Workstation, to support informed investment decisions .
    2. PitchBook - Offers the PitchBook Platform and Leveraged Commentary & Data (LCD) for in-depth research and insights into private capital markets, including venture capital, private equity, and M&A activities .
    3. Morningstar Credit - Delivers independent credit ratings and research services for financial institutions, corporate and sovereign entities, and structured finance products through Morningstar DBRS .
    4. Morningstar Wealth - Provides investment management services and advisor tools, including managed portfolio offerings and practice management software, to help advisors deliver investor-friendly products .
    5. Morningstar Retirement - Assists retirement plan sponsors and advisors in creating high-quality savings programs for employees .
    6. Corporate and All Other - Includes Morningstar Sustainalytics and Morningstar Indexes, offering sustainability research and index solutions .

    Key Metrics

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    Executive Team

    NamePositionStart DateShort Bio
    Kunal KapoorChief Executive Officer2017Kunal Kapoor became the Chief Executive Officer of Morningstar, Inc. in 2017. He joined Morningstar in 1997 and has held various leadership roles. He holds an MBA from The University of Chicago Booth School of Business .
    Jason DubinskyChief Financial Officer2017 - Dec. 31, 2024Jason Dubinsky has been the Chief Financial Officer since 2017. He previously worked at Walgreens Boots Alliance, Goldman Sachs, and Lehman Brothers. He holds an MBA from New York University's Stern School of Business .
    Joe MansuetoExecutive Chairman2017Joe Mansueto founded Morningstar in 1984 and served as CEO until 2016. He became the executive chairman in 2017. He is also involved in various other ventures, including ownership of Chicago Fire FC .
    Danny DunnChief Revenue Officer2016Danny Dunn is the Chief Revenue Officer since 2016, responsible for global revenue and client-facing functions. He previously worked at IBM and Neology. He holds an MBA from the Kellogg School of Management at Northwestern University .
    Conan WiersemaChief Accounting OfficerFebruary 2024Conan Wiersema was appointed as the Chief Accounting Officer in February 2024. He joined Morningstar in July 2021 as the Chief Audit Executive. He previously worked at Univar Solutions Inc. .

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateDecember 6, 2022
    End Date/DurationDecember 31, 2025
    Total Additional Amount$500.0 million
    Remaining Authorization$498.6 million (as of September 30, 2024)
    DetailsAllows repurchases at prevailing market prices or private transactions.