News Release 22 West Washington Street Telephone: +1 312 696-6000 Chicago Facsimile: +1 312 696-6009 Illinois 60602 FOR IMMEDIATE RELEASE Morningstar, Inc. Reports Third-Quarter 2024 Financial Results CHICAGO, Oct. 23, 2024 - Morningstar, Inc. (Nasdaq: MORN), a leading provider of independent investment insights, posted double-digit third-quarter revenue growth while expanding operating margins. "Morningstar Credit led the way in the quarter with additional contributions from across the business supporting ...

CONCORD, Calif., Sept. 12, 2024 (GLOBE NEWSWIRE) -- AssetMark, a leading provider of wealth management and technology solutions for financial advisors, announced the addition of Morningstar Wealth, a division of independent investing insights firm Morningstar, as a third-party strategist on the AssetMark Platform. This launch will enable financial advisors currently working with AssetMark to access a wide range of model portfolios and separately managed accounts ("SMAs") from the Morningstar Investment Mana ...

General and administrative expense decreased $9.8 million in the second quarter of 2024. A decline in professional fees of $5.0 million was the largest contributor to the decline during the quarter due to the factors noted above. Facilitiesrelated expenses also declined $4.5 million during the second quarter of 2024 due to the factors noted above. Depreciation and Amortization | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |--------------------|-------|--------------|------- ...

Revenue Growth - Reported revenue increased 13.2% to $1.1 billion compared to the prior-year period; organic revenue grew 13.3%[26] - Morningstar reported revenue increased by 13.3% to $571.9 million compared to the prior-year period, with organic revenue growth of 13.6%[36] - Consolidated revenue for Q2 2024 reached $571.9 million, a 13.3% increase from $504.7 million in Q2 2023[85] - Total reportable segments revenue for the first half of 2024 was $1,014.1 million, reflecting a 12.9% increase from $898.0 million in the first half of 2023[85] Profitability - Diluted net income per share increased 90.5% to $1.60; adjusted diluted net income per share increased 54.6% to $2.01[25] - Adjusted operating income increased 87.9% to $108.5 million[2] - Adjusted operating income rose by 99.0%, reaching $201.1 million, while reported operating income increased by 203.8%[38] - Consolidated net income for the three months ended June 30, 2024, was $69.1 million, compared to $36.1 million for the same period in 2023, representing an increase of 91.6%[60] Cash Flow - Cash provided by operating activities increased 414.2% to $246.3 million; free cash flow increased to $180.3 million compared to negative $11.9 million in the prior-year period[27] - Cash provided by operating activities increased to $152.7 million from $24.5 million in the prior-year period, reflecting a strong operational performance[37] - Free cash flow improved significantly to $120.8 million from a negative $5.8 million in the prior-year period, marking an increase of 110.8% when excluding prior-year negative impacts[37] Segment Performance - Morningstar Data and Analytics contributed $196.9 million to consolidated revenue, with revenue increasing 5.9% in the second quarter versus the prior-year period[31] - PitchBook contributed $151.7 million to consolidated revenue, with revenue increasing 10.9% on a reported and organic basis[32] - Morningstar Wealth contributed $62.6 million to consolidated revenue, with revenue increasing 12.2% in the second quarter versus the prior-year period[33] - Morningstar Retirement contributed $33.3 million to consolidated revenue, with a revenue increase of 21.5% in the second quarter compared to the prior-year period[47] - Morningstar Credit revenue increased by 43.2% in the second quarter versus the prior-year period, contributing $77.6 million to consolidated revenue[70] - Morningstar Indexes revenue increased by 22.3% to $207.6 billion, driven by higher investable product revenue and net inflows[72] Operating Metrics - Average AUMA increased 18.2% to $304.9 billion[22] - The second-quarter operating margin improved to 19.0%, up from 8.3% in the prior-year period, while adjusted operating margin was 22.9% compared to 13.8%[39] - Adjusted operating margin improved to 22.9% in Q2 2024, compared to 13.8% in Q2 2023, reflecting a 9.1 percentage point increase[85] Expenses and Liabilities - Unallocated corporate expenses increased to $46.1 million in Q2 2024 from $38.9 million in Q2 2023[9] - Operating expenses were relatively flat at $463.4 million, with a 1.4% increase when excluding M&A-related expenses[63] - Total liabilities decreased to $1,969.8 million as of June 30, 2024, from $2,075.6 million as of December 31, 2023[82] Tax and Other Financials - The Company's effective tax rate was 21.7% in the second quarter of 2024[30] - Total assets remained stable at $3,403.5 million compared to $3,403.4 million in the prior period[59] - Cash and cash equivalents totaled $439.2 million as of June 30, 2024, compared to $389.0 million at the end of 2023[74] - The impact of Corporate and All Other on consolidated adjusted operating income improved to negative $46.6 million from negative $53.7 million in the prior-year period[73] Severance and Other Costs - The company recorded $3.3 million in severance expenses related to the expected sale of assets from the Morningstar Wealth Turnkey Asset Management Platform[34]

RichVintage Morningstar's Best Value Stocks On June 26, Morningstar published 10 Best Value Stocks to Buy for the Long Term 10 Best Value Stocks to Buy for the Long Term. Morningstar noted: "Looking forward, we think long-term investors will be better off paring down those positions in growth stocks that are becoming overextended and reinvesting those proceeds into value stocks that trade at an attractive margin of safety from their intrinsic valuations." We've put together a list of the best value stocks t ...

Group 1: Company Overview - Gabelli Funds ("GAMCO") is a subsidiary of GAMCO Investors, Inc. and is involved in managing various investment funds, including ETFs [7][12][13] - The Gabelli Commercial Aerospace & Defense ETF (GCAD) and Gabelli Growth Innovators ETF (GGRW) are two of the funds managed by Gabelli Funds, focusing on specific investment themes [10][12] Group 2: Investment Focus - The GCAD ETF primarily invests at least 80% of its assets in U.S. exchange-listed common and preferred stocks of companies in the aerospace and defense sectors [7] - The GGRW ETF focuses on capital appreciation by investing in common stocks of companies that are considered innovative, defined as those introducing new technologies, products, or services [12] Group 3: Upcoming Presentations - LtCol G. Anthony Bancroft will present insights on the commercial aviation and defense spending landscape on June 27th [1] - John Belton, CFA, will discuss investing in generative AI and identifying winners on June 26th [6]

CONCORD, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Wealth management platform AssetMark, Inc., a wholly owned subsidiary of AssetMark Financial Holdings, Inc. and a Registered Investment Adviser (collectively "AssetMark"), today announced a strategic alliance with Morningstar Wealth, a division of independent investing insights firm Morningstar, Inc. (Nasdaq: MORN). Additionally, financial advisors currently working with AssetMark will gain access to a wide range of model portfolios and separately managed a ...

A recent article about ETFs to buy from Morningstar.com caught my attention for a few reasons. Secondly, Jackson's three choices made for an intriguing 3-ETF, 60/40 portfolio. Jackson didn't talk about this angle; I just went with it. To make this an original piece, I will choose three different ETFs for my 3-stock, 60/40 portfolio that are also highly rated and ready to deliver life-changing returns for investors. Source: Eviart / Shutterstock.com The actively managed ETF charges 0.43%. It generates monthl ...

The fund is sponsored by Blackrock. It has amassed assets over $214.61 million, making it one of the average sized ETFs attempting to match the Small Cap Blend segment of the US equity market. Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities. When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long t ...

Looking for broad exposure to the Small Cap Growth segment of the US equity market? You should consider the iShares Morningstar Small-Cap Growth ETF (ISCG) , a passively managed exchange traded fund launched on 06/28/2004. The fund is sponsored by Blackrock. It has amassed assets over $548.33 million, making it one of the average sized ETFs attempting to match the Small Cap Growth segment of the US equity market. Why Small Cap Growth There's a lot of potential to investing in small cap companies, but with m ...