Core Insights - The total number of shares composing the current share capital of Societe Generale as of 23 February 2026 is 751,723,995, with a total number of voting rights amounting to 836,629,182 [2][8]. Company Overview - Societe Generale is a leading European bank with approximately 119,000 employees serving over 26 million clients across 62 countries, providing a wide range of advisory and financial solutions [3]. - The company has a strong commitment to sustainability and environmental transition, aiming to be a leading partner in these areas [4]. Business Segments - The Group operates three complementary business sets: 1. French Retail, Private Banking, and Insurance, which includes SG retail bank and BoursoBank digital bank 2. Global Banking and Investor Solutions, recognized for its leadership in equity derivatives and structured finance 3. Mobility, International Retail Banking, and Financial Services, featuring universal banks in various regions and a focus on sustainable mobility [7]. ESG Commitment - Societe Generale is included in major socially responsible investment indices, highlighting its commitment to environmental, social, and governance (ESG) principles [4].

Core Insights - Morningstar reported strong quarterly earnings with adjusted EPS of $2.40, surpassing the $2.11 estimate, and GAAP revenue of $605.1 million, slightly above the consensus of $604.57 million [1][2] - The company experienced year-over-year profitability improvements, with operating margin increasing to 20.7% despite a significant drop in free cash flow, which fell by 48.3% to $62.4 million due to higher tax payments [1][2][9] Financial Performance - Non-GAAP EPS increased by 19.4% year-over-year from $2.01 to $2.40, while GAAP EPS rose by 30.6% from $1.60 to $2.09 [2] - GAAP revenue grew by 5.8% from $571.9 million in Q2 2024 to $605.1 million in Q2 2025 [2] - Operating income improved by 15.3% year-over-year, reaching $125.1 million [2] Business Segments - The Direct Platform generated $209.2 million in revenue, up 6.2%, while the PitchBook platform saw a 9.8% increase in sales to $166.5 million [5] - The Morningstar Credit segment reported a 9.5% revenue increase to $85.0 million, driven by strong demand for credit ratings [5] - The Morningstar Wealth segment's revenue grew by 2.7%, with assets under management increasing by 13.0% to $66.8 billion [6] Strategic Focus - Morningstar is concentrating on expanding its core data and analytics offerings, scaling investment management services, and enhancing credit ratings coverage [4] - The company aims to maintain high-quality data, innovate platforms, and respond to regulatory changes to sustain growth [4] Challenges and Developments - The ESG segment, Morningstar Sustainalytics, faced a revenue decline to $27.3 million due to reduced demand and a reorganization effort [7] - Operating expenses rose by 3.8%, primarily due to increased salaries and costs associated with the ESG reorganization [8] - The company continued share repurchases and dividends, spending $112.0 million on buybacks and $19.3 million on dividends [9] Future Outlook - Management did not provide specific financial guidance but emphasized ongoing investments in platform enhancements and new data capabilities [10] - Key areas for future progress include technology innovation and expanding analytics coverage [10]

Group 1 - As of 30 June 2025, the total number of shares composing the current share capital is 800,316,777 and the total number of voting rights is 889,511,445 [2][6] - Societe Generale is a leading European bank with approximately 119,000 employees serving over 26 million clients in 62 countries [3][4] - The company has a strong commitment to environmental, social, and governance (ESG) principles, being included in major socially responsible investment indices [4]