Morningstar reported second-quarter 2026 revenue rose 9.6% to $663.2 million, with organic revenue up 6.8%. Operating income increased 28.4% to $160.6 million, and diluted net income per share climbed 35.4% to $2.83. The company cited Morningstar Credit, Morningstar Direct Platform, and PitchBook as the largest contributors to organic revenue growth. Cash provided by operating activities jumped 57.3% to $155.7 million, while free cash flow nearly doubled to $122.5 million. Morningstar repurchased 567,844 shares for $100.0 million during the quarter.
Morningstar IncRevenue and earnings beat expectations, with strong cash flow and share buybacks.