How many employees does Morningstar, Inc. have?

Morningstar, Inc. reported 10,973 employees for the fiscal year ending Dec 2025, in the annual report it filed on February 13, 2026. That is down 1.0% from a year earlier.

What is Morningstar, Inc.'s revenue per employee?

Morningstar, Inc. brought in $2.45B of revenue in fiscal Dec 2025, which is $223K per employee. That ranks 10 of 11 companies we track in Financial - Data & Stock Exchanges, where the median is $500K.

Where do these numbers come from?

Employee counts and revenue are taken from each company's own annual report (Form 10-K). Open roles are counted from the company's public job board where we have matched one. Companies report headcount once a year, sometimes rounded, so small changes can be noise.

Company data

Morningstar, Inc. employees and revenue per employee

MORN · Financial - Data & Stock Exchanges · $7.67B market cap

Morningstar, Inc. had 10,973 employees at the end of fiscal Dec 2025, down 1.0% from a year earlier. Revenue for the year was $2.45B, up 7.5% from a year earlier, or $223K per employee. Revenue held up or grew while headcount stayed flat or fell.

Employees

10,973

-1.0% YoY

Revenue

$2.45B

+7.5% YoY

Revenue / employee

$223K

Peer median $500K

Rank in industry

10 of 11

Financial - Data & Stock Exchanges

Headcount against revenue

Both lines start at 100 in the first year we hold, so you can see which one grew faster.

EmployeesRevenueIndexed to 100 in Dec 2016

Hover a year for the numbers.

MORN employees and revenue by fiscal year
Year ending	Employees	Revenue	Per employee	Staff YoY	Revenue YoY
Dec 2025	10,973	$2.45B	$223K	-1.0%	+7.5%
Dec 2024	11,085	$2.28B	$205K	-2.2%	+11.6%
Dec 2023	11,334	$2.04B	$180K	-7.3%	+9.0%
Dec 2022	12,224	$1.87B	$153K	+27.9%	+10.1%
Dec 2021	9,556	$1.70B	$178K	+19.8%	+22.3%
Dec 2020	7,979	$1.39B	$174K	+355.9%	+17.9%
Dec 2019	1,750	$1.18B	$674K	+16.7%	+15.6%
Dec 2018	1,500	$1.02B	$680K	+10.3%	+11.9%
Dec 2017	1,360	$912M	$670K	+51.1%	+14.2%
Dec 2016	900	$799M	$887K	—	—

Open roles: we have not matched a verified job board for this company yet.

Employees, last six fiscal years

Revenue per employee, last six fiscal years

Morningstar, Inc. against similar companies

The closest industry peers by revenue, from Financial - Data & Stock Exchanges.

Company	Employees	Revenue	Revenue / employee	Shape
CBOE Cboe Global Markets, Inc.	1,661	$4.71B	$2.84M	Leaner
CME CME Group Inc.	3,875	$6.52B	$1.68M	Efficient growth
COIN Coinbase Global, Inc.	4,951	$7.18B	$1.45M	Hiring ahead
NDAQ Nasdaq, Inc.	9,525	$8.22B	$863K	Efficient growth
MSCI MSCI Inc.	6,268	$3.13B	$500K	Efficient growth
MCO Moody's Corporation	16,076	$7.72B	$480K	Efficient growth
TRU TransUnion	13,500	$4.58B	$339K	Efficient growth
MORN Morningstar, Inc.	10,973	$2.45B	$223K	Leaner
FDS FactSet Research Systems Inc.	12,800	$2.32B	$181K	Efficient growth

Every Financial Services company

Questions about Morningstar, Inc.

How many employees does Morningstar, Inc. have?: Morningstar, Inc. reported 10,973 employees for the fiscal year ending Dec 2025, in the annual report it filed on February 13, 2026. That is down 1.0% from a year earlier.
What is Morningstar, Inc.'s revenue per employee?: Morningstar, Inc. brought in $2.45B of revenue in fiscal Dec 2025, which is $223K per employee. That ranks 10 of 11 companies we track in Financial - Data & Stock Exchanges, where the median is $500K.
Where do these numbers come from?: Employee counts and revenue are taken from each company's own annual report (Form 10-K). Open roles are counted from the company's public job board where we have matched one. Companies report headcount once a year, sometimes rounded, so small changes can be noise.

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More data

Compare MORN with the rest of the market

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Source: employee counts and revenue as stated in Morningstar, Inc.'s annual reports (Form 10-K), latest filed February 13, 2026. This is data, not a recommendation to buy or sell MORN.