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 ...

Lieutenant Colonel G. Anthony (Tony) Bancroft, USMCR, team leader and Portfolio Manager of the Gabelli Commercial Aerospace & Defense ETF (GCAD), will present on Insights on the Commercial Aviation and Defense Spending Landscape at 10:15 am CT on Thursday June 27th. LtCol Bancroft joined Gabelli Funds in 2009 after serving as an F/A-18 Hornet fighter pilot with the United States Marine Corps. About GGRW Please read the Prospectus, including the Risk Discussion, carefully (when it becomes available) to under ...

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 ...

The iShares Morningstar Small-Cap Value ETF (ISCV) was launched on 06/28/2004, and is a passively managed exchange traded fund designed to offer broad exposure to the Small Cap Value segment of the US equity market. The fund is sponsored by Blackrock. It has amassed assets over $409.58 million, making it one of the average sized ETFs attempting to match the Small Cap Value segment of the US equity market. Why Small Cap Value Sitting at a market capitalization below $2 billion, small cap companies tend to be ...

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 ...

Alistair Berg They noted "These undervalued stocks with reliable dividends are worth considering." The Morningstar 10 Best Dividend Stocks are blue-chip stocks - shares of well-established, financially stable companies. Morningstar noted that they carry a 4- or 5-star (their highest) rating, have narrow or wide economic moats, and are undervalued. They would be the epitome of SWAN - Sleep Well at Night companies to invest in. Morningstar's 10 Best Dividend Stocks are below. Morningstar's 10 Best Dividend St ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-51280 MORNINGSTAR, INC. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of (I.R.S. Emp ...