Company / Free Cash Flow
Morningstar, Inc. Free Cash Flow History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Free Cash Flow
$442.6M
FY2025
5-year range
$197.3M / $448.9M
FY2021-FY2025
Trend
-1.4%
vs FY2024
Sector context
#97 of 302
Financials
What the data says
At $443M, Morningstar, Inc.'s free cash flow ranks #97 of 302 in the Financials sector. Free Cash Flow has fluctuated over the past 10 years, ranging from $78M in FY2016 to $449M in FY2024.
Based on SEC 10-K filings.
$443M in FY2025 with a 5-year CAGR of +13.1%.
Improved from $197M to $443M over the past 2 years.
Financials sector context is included.
Free Cash Flow over time
Growth rates
- 3-Year CAGR
- +12.9%
- 5-Year CAGR
- +13.1%
- 10-Year CAGR
- -
Sector benchmark
#97 of 302 in FinancialsTop 32% of 302This company $442.6M Sector average $646.4M
▼
-31.5% below sector average
Key checks
Key Insights
- 5-year CAGR of +13.1%, indicating consistent growth.
- In FY2025, free cash flow decreased 1.4% year-over-year.
- Ranks #97 out of 302 companies in the Financials sector.
- Peak free cash flow was recorded in FY2024.
Company context
Key Data Points
- High earnings quality (cash-backed earnings)
- Strong return on equity: 24.8%
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | Free Cash FlowValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $442.6M | -1.4% |
| FY2024 | $448.9M | +127.5% |
| FY2023 | $197.3M | -35.9% |
| FY2022 | $307.6M | +20.9% |
| FY2021 | $254.4M | +6.6% |
| FY2020 | $238.7M | +30.1% |
| FY2019 | $183.5M | -23.1% |
| FY2018 | $238.7M | +29.6% |
| FY2017 | $184.2M | +135.2% |
| FY2016 | $78.3M | -48.9% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026