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Morningstar

#1238

Rank

$14.57B

Marketcap

US United States

Country

Morningstar
Leadership team

Mr. Kunal Kapoor CFA (CEO & Director)

Mr. Jason M. Dubinsky (Chief Financial Officer)

Mr. Daniel Dunn (Chief Revenue Officer)

Products/ Services
Enterprise Software, Finance, Financial Services, Impact Investing, Information Services, Market Research, News, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Chicago, Illinois, United States
Established
1984
Company Registration
SEC CIK number: 0001289419
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
MORN
Social Media
Overview
Location
Summary
Morningstar, Inc. provides independent investment research services in North America, Europe, Australia, and Asia. The company offers web-based tools; investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index, as well as environmental, social, and governance (ESG) rating services; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors. It also provides Morningstar Data, an investment data spanning various databases, including equity fundamentals, managed investments, ESG factors, and market data; Morningstar Direct, an investment-analysis platform; Morningstar Managed Portfolios, an advisor service consisting of model portfolio that offers services for independent financial advisors, as well as offers asset allocation services for asset managers, broker/dealers, and insurance providers; Morningstar Advisor Workstation, a web-based research, financial planning, and proposal generation platform; and Morningstar.com, a website for individual investors. In addition, the company offers Morningstar Enterprise Components; Morningstar Credit Ratings that provides issuance and surveillance services for structured finance products and instruments; corporate credit estimates and operational risk assessment rankings; Morningstar Indexes for creating investment products; Morningstar workplace solutions, such as retirement accounts, fiduciary services, allocation funds, and custom models; and PitchBook Platform, research and analysis workstation for investment and research professionals. Further, its PitchBook provides a mobile application, excel plug-in, data feeds, and data solutions. The company was incorporated in 1984 and is headquartered in Chicago, Illinois.
History

Founder Joe Mansueto initially had the idea for Morningstar in 1982 while reviewing mutual fund annual reports he had requested from several prominent fund managers. However, it was only after a year working as a stock analyst for Harris Associates, seeing the fund industry and potential competitors up close, that he was convinced that the opportunity was there. Morningstar was subsequently founded in 1984 from his one-bedroom Chicago apartment with an initial investment of US$80,000. The name Morningstar is taken from the last sentence in Walden, a book by Henry David Thoreau; "the sun is but a morning star".In July 1999, Morningstar accepted an investment of US$91 million from SoftBank in return for a 20 percent stake in the company. The two companies had formed a joint venture in Japan the previous year.Morningstar's initial public offering occurred on May 3, 2005, with 7,612,500 shares at $18.50 each. The manner in which Morningstar went public is notable. They elected to follow Google's footsteps and use the OpenIPO method rather than the traditional method. This allowed individual investors to bid on the price of the stock, and allowed all investors equal access.

In 2006, Morningstar acquired Ibbotson Associates, Inc., an investment research firm?In 2007, Morningstar acquired the mutual fund data business of S&P Global.In 2010, Morningstar acquired credit rating agency Realpoint and begins offering structured credit ratings and research to institutional investors. In the same year, Morningstar acquired Old Broad Street Research Ltd. , a UK-based provider of fund research, ratings and investment advisory services, for $18.3 million. After the acquisition, renamed as Morningstar OBSR.In 2014, Morningstar acquired ByAllAccounts, Inc., a provider of innovative data aggregation technology for financial applications.In 2016, Morningstar acquires remaining ownership of PitchBook Data for approximately $225 million. In September 2016, Morningstar announced that it had appointed Kunal Kapoor as chief executive officer, effective January 2017, with Mansueto becoming executive chairman at the same time.In 2019, Morningstar to acquire the world's fourth largest credit rating agency DBRS for $669 million. After the acquisition, DBRS merged with Morningstar’s credit rating business?

In 2020, Morningstar entered into an agreement to acquire Sustainalytics, a research and ratings firm specializing in environmental, social and governance insights. That same year, Morningstar agreed to acquire PlanPlus Global, a Canada-based financial planning and risk assessment software company.In 2021, Morningstar announced it would acquire the UK and international operations of the Australian wealth management platform Praemium for £35 million.In 2022, Morningstar announced that it will acquire the S&P Global-owned Leveraged Commentary & Data , a company specializing in leveraged loan market data, for $600 million up to $650 million.

Mission
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 17 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $170 billion in assets under advisement and management as of Sept. 30, 2015.
Vision
Our vision is to be the preeminent provider of independent financial information and services worldwide.
Key Team

Ms. Kimberly J. McGarry (Global Controller & Chief Accounting Officer)

Mr. Patrick J. Maloney (Gen. Counsel & Corp. Sec.)

Mr. James Rhodes (Pres of Data, Research & Enterprise Solutions and CTO)

Stephanie Lerdall (Sr. Mang. of Media Relations)

Ms. Barbara Margaret Noverini C.F.A. (Analyst)

Mr. Chris Boruff (Managing Director of Bus. Operations)

Mr. David W. Williams (Chief Design Officer)

Recognition and Awards
Morningstar won 1 award in 2017. In 2017, Morningstar won for Top Rated Engineering Teams. Based on 963 ratings and 108 participants, employees at Morningstar are satisfied with their work experience. The overall culture score, 71/100 or B, incorporates employee ratings based on their feedback on the Overall Culture, eNPS, Diversity and more.
References
Morningstar
Leadership team

Mr. Kunal Kapoor CFA (CEO & Director)

Mr. Jason M. Dubinsky (Chief Financial Officer)

Mr. Daniel Dunn (Chief Revenue Officer)

Products/ Services
Enterprise Software, Finance, Financial Services, Impact Investing, Information Services, Market Research, News, Telecommunications
Number of Employees
1,000 - 20,000
Headquarters
Chicago, Illinois, United States
Established
1984
Company Registration
SEC CIK number: 0001289419
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
MORN
Social Media