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Morningstar Inc (NAS:MORN)
Market Cap
$2,986.1 Mil (As of Today)

Market cap is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding. Morningstar Inc's share price for the quarter that ended in Sep. 2014 was $68.3. Morningstar Inc's shares outstanding for the quarter that ended in Sep. 2014 was 44.7 Mil. Therefore, Morningstar Inc's market cap for the quarter that ended in Sep. 2014 was $2,986.1 Mil.

Morningstar Inc's quarterly market cap declined from Mar. 2014 ($3,534.6 Mil) to Jun. 2014 ($3,201.5 Mil) and declined from Jun. 2014 ($3,201.5 Mil) to Sep. 2014 ($3,050.3 Mil).

Morningstar Inc's annual market cap declined from Dec. 2011 ($2,977.3 Mil) to Dec. 2012 ($2,924.1 Mil) but then increased from Dec. 2012 ($2,924.1 Mil) to Dec. 2013 ($3,511.7 Mil).

Enterprise value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. Morningstar Inc's enterprise value for Today is $2,789.2 Mil.


Definition

Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.

Morningstar Inc's Market Cap for the fiscal year that ended in Dec. 2013 is calculated as

Market Cap (A: Dec. 2013 )=Share Price (A: Dec. 2013 )*Shares Outstanding (A: Dec. 2013 )
=78.09*44.97
=3,511.7

Morningstar Inc's Market Cap for the quarter that ended in Sep. 2014 is calculated as

Market Cap (Q: Sep. 2014 )=Share Price (Q: Sep. 2014 )*Shares Outstanding (Q: Sep. 2014 )
=68.3*44.66
=3,050.3

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Explanation

Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the company’s debt. The real price you pay is the Enterprise Value.

Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.


Related Terms

Shares Outstanding


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Morningstar Inc Annual Data

Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13
mktcap 0.01,385.91,881.73,422.61,660.32,357.52,647.12,977.32,924.13,511.7

Morningstar Inc Quarterly Data

Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14Jun14Sep14
mktcap 2,819.12,974.12,924.13,250.63,578.83,651.53,511.73,534.63,201.53,050.3
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