Morningstar, Inc. furnished an Investor Q&A as Exhibit 99.1 under Item 7.01 Regulation FD Disclosure, responding to questions received through March 5, 2026, on topics including AI impact on competitive moat, PitchBook pricing, Morningstar Credit growth drivers, and real estate strategy. This provides investors transparency into the company's strategic positioning and business updates.
Key takeaways
Investor Q&A responds to questions through March 5, 2026, attached as Exhibit 99.1.
Morningstar Credit 2025 revenue: 61% structured finance, 33% corporate and fundamental credit ratings, 6% licensed data; unpublished ratings ~25% of ratings revenue.
Morningstar Retirement, Credit, and Wealth segments accounted for ~1/3 of 2025 revenue and adjusted operating income, growing 7.4% vs. 2024.
PitchBook revenue per client increased in 2025 compared to 2024.
CFO purchased 1,000 shares of Morningstar stock in early March 2026.
Annual Shareholders’ Meeting scheduled for May 7, 2026.