MORNNasdaqInvestment Advice

Morningstar, Inc. (MORN) earnings date, market-implied expected move, and options open interest by expiry

225.28

Closed17:56 ET

Open226.52Volume217,867Mkt cap$8.4BP/E19.61EPS11.49Div yield0.88%

Day223.78 – 228.0036%52-wk140.69 – 227.0598%

MORN

Morningstar, Inc.

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

No implied move.

Expected move

Inputs

Next report

Feb 11

after close · in 102 days

est.Q4 FY26

Calendar

Next report

Last report

+3.57%

vs ±8.2% implied · ×0.43

shaded = implied · ▲▼ = realized

Oct 28 '26 · confirmed

Implied vs realized

Linked news

2dMSFT · customerMicrosoft is winning the cloud wars and becoming Wall Street’s new golden child
2dCNS · customerCohen & Steers Q3 net income $42,244 thousand; diluted EPS $0.81

News

Largest filed tie

13F top-10 QoQ

+23.21%

shares held · 10 largest managers

13F · Jun 30 '26124d lag

416 managers

Top fund weight

0.09%

MORN weight · MDY

N-PORTJun 30 '26

5 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Morningstar (MORN) is expected to report on Feb 11 after close (estimated date).

Implied vs realized

8 reports

—≥ implied

Feb 26 '25Feb 26 '25confirmed—▼−2.75%—

Apr 30 '25Apr 30 '25confirmed—▼−0.55%—

Jul 30 '25Jul 30 '25confirmed—▼−2.74%—

Oct 29 '25Oct 29 '25confirmed—▲+2.68%—

Feb 12 '26Feb 12 '26confirmed—▲+3.91%—

Q1 FY26Apr 29 '26confirmed—▼−10.07%—

Q2 FY26Jul 29 '26confirmed—▼−2.79%—

Q3 FY26Oct 28 '26confirmed±8.2%▲+3.57%×0.43

quarterimplied−15%0+15%realized×

Q3 FY26±8.2%▲+3.57%×0.43

Q2 FY26—▼−2.79%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 3 expiries · Oct 27 close

0.61OI · 3 expiries · Oct 27 closeP/C open interest · Mar 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

190%Nov 2019d1.19160%1.19

4620%Dec 1847d2.82164−7%2.82

report · Feb 11 · after close · est.

460%Mar 19138d750%

ExpiryPutsCallsP/C

Nov 2019d190%160%1.19

Dec 1847d4620%164−7%2.82

report · Feb 11 · after close · est.

Mar 19138d460%

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

No implied move.

Linked exposure

Revenue flow

as filedQ3 FY26

17.18%as filednet margin · revenue +1.34% QoQ · +8.86% YoY

Revenue

$672M+1.34% QoQ

Gross profit

$431M+1.77% QoQ

64.19% margin

Operating income

$167M+4.23% QoQ

24.91% margin

Pre-tax income

$152M+3.67% QoQ

Net income

$116M+7.14% QoQ

17.18% margin

Cost of revenue

$241M+0.59% QoQ

Operating expenses

$264M+0.27% QoQ

Marketing $118M

SG&A $93M

Depreciation $53M

Other expense

$15M

Tax

$38M+0.26% QoQ

Revenue$672M+1.34%

Gross profit

$431M+1.77%

64.19% margin

Operating income

$167M+4.23%

24.91% margin

Pre-tax income

$152M+3.67%

Net income

$116M+7.14%

17.18% margin

Cost of revenue

$241M+0.59%

Operating expenses

$264M+0.27%

Marketing $118M

SG&A $93M

Depreciation $53M

Other expense

$15M

Tax$38M+0.26%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Sep 30 '26 · width = $

Revenue flow

Intraday

15m bars

Hatch = extended hours · ▯ up · ▮ downSource: market data · 17:45 ET

Intraday

Event sensitivity

PPI ×1.79· ±2.4% vs ±1.3% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±2.4%4 of 10×1.79

GDPgross domestic product±2.2%10 of 19×1.64

PCEpersonal income & outlays±2.1%10 of 19×1.61

NFPjobs report±1.9%5 of 10×1.47

CPROFcorporate profits±1.8%7 of 12×1.33

CPIconsumer prices±1.7%3 of 10×1.26

FOMCrate decision±1.5%13 of 24×1.11

Bar = avg |move| to ±3% · tick = ±1.3% avg day · ×base = |move| ÷ ±1.3% · min 6 releases

Earnings history

EPS 3.06 · consensus —

Quarter	Reported	EPS	Consensus
Q3 FY26	Oct 28 '26 · confirmed	3.06	—
Q2 FY26	Jul 29 '26 · confirmed	2.83	—
Q1 FY26	Apr 29 '26 · confirmed	2.73	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod