Cost of revenue · 2011–2025
Morningstar cost of revenue
$953M+6.4% · FY2025
Morningstar (MORN) reported $953M in cost of revenue for fiscal 2025, +6.4% year on year.
| Fiscal year | Cost of revenue | Change | Filing |
|---|---|---|---|
| FY20252025-12-31 | $953M | +6.4% | Open → |
| FY20242024-12-31 | $896M | +6.2% | Open → |
| FY20232023-12-31 | $844M | +8.2% | Open → |
| FY20222022-12-31 | $779M | +11.6% | Open → |
| FY20212021-12-31 | $698M | +25.5% | Open → |
| FY20202020-12-31 | $556M | +15.2% | Open → |
| FY20192019-12-31 | $483M | +17.5% | Open → |
| FY20182018-12-31 | $411M | +6.3% | Open → |
| FY20172017-12-31 | $387M | +12.3% | Open → |
| FY20162016-12-31 | $344M | +4.3% | Open → |
| FY20152015-12-31 | $330M | +3.6% | Open → |
| FY20142014-12-31 | $319M | +17.4% | Open → |
| FY20132013-12-31 | $271M | +10.0% | Open → |
| FY20122012-12-31 | $247M | +4.9% | Open → |
| FY20112011-12-31 | $235M | — | Open → |
Cost of revenue — Cost of revenue is the direct cost of producing what the company sold — materials, manufacturing and the labour tied to delivery. It excludes sales, marketing and administration. Revenue minus this figure is gross profit.
Every row links to its own SEC filing · Fiscal year 2025 · Data as of September 25, 2026 · 2011–2025 compound annual growth +10.5%
Cost of revenue at companies of similar size
Cite this page
Ready-made references for the figures on this page, as published on September 25, 2026.
Wikipedia
{{cite web |title=Morningstar cost of revenue |url=https://companiesranked.com/en/company/morningstar/cost-of-revenue |website=CompaniesRanked |date=2026-09-25 |language=en}}APA 7
CompaniesRanked. (September 25, 2026). Morningstar cost of revenue. CompaniesRanked. https://companiesranked.com/en/company/morningstar/cost-of-revenueBibTeX
@misc{companiesranked-en-company-morningstar-cost-of-revenue-2026,
author = {{CompaniesRanked}},
title = {{Morningstar cost of revenue}},
year = {2026},
howpublished = {\url{https://companiesranked.com/en/company/morningstar/cost-of-revenue}},
note = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
urldate = {2026-09-25}
}The filing itself
The numbers above are read from this document: 10-K · 0001289419-26-000013 · February 13, 2026
{{cite web |title=Morningstar cost of revenue — 10-K (0001289419-26-000013) |url=https://www.sec.gov/Archives/edgar/data/1289419/000128941926000013/morn-20251231.htm |website=SEC EDGAR |publisher=U.S. Securities and Exchange Commission |date=2026-02-13}}The figures are rebuilt with every data refresh, so the reference carries the publication date. Add your own access date if your style requires one.