Strong Revenue Growth:
Revenue increased in 2025 and continued to rise into early 2026, supported by broad-based contributions across key units. Q4 results and early 2026 trends indicate sustained demand across the portfolio.
Profitability:
Margins expanded alongside higher adjusted operating income, with the CRSP acquisition accretive to margins. Early 2026 also showed notable improvement in adjusted operating income.
Diversified Revenue Streams:
Multiple engines—Morningstar Credit, PitchBook, and the Morningstar Direct Platform—drove growth, while Wealth and Retirement assets increased. This mix reduces dependence on any single segment.
