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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
MorningstarMORN -0.28%81 Debt-to-Equity is 1.86 as of Jun. 2026, which is 215% above its 10-year median of 0.59. GuruFocus rates MORN with a GF Score™ of 81/100 and a GF Value™ of $355.82 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 610 Capital Markets companies, Morningstar ranks worse than 88.2% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Morningstar's Debt-to-Equity or its related term are showing as below:
MORN'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.08 Med: 0.59 Max: 1.87
Current: 1.86
During the past 13 years, the highest Debt-to-Equity Ratio of Morningstar was 1.87. The lowest was 0.08. And the median was 0.59.
MORN's Debt-to-Equity is ranked worse than 88.2% of 610
companies
in the Capital Markets industry
Industry Median: 0.305
vs MORN: 1.86
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Morningstar Debt-to-Equity Related Terms
Morningstar Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Morningstar's Debt-to-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MORN vs FDS, OTCM, VALU: Debt-to-Equity Comparison
For the Financial Data & Stock Exchanges subindustry, Morningstar's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Morningstar Debt-to-Equity vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Morningstar's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Morningstar's Debt-to-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Morningstar (MORN) has a Debt-to-Equity of 1.86 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Morningstar and its competitors. This is 215% above median its historical median of 0.59. Over the past decade, Morningstar's Debt-to-Equity has ranged from 0.08 to 1.87. According to the industry distribution chart, Morningstar ranks #538 out of 610 companies in the Capital Markets industry, placing it in the top 88.2%.
Is Morningstar's Debt-to-Equity too high?
Morningstar's current Debt-to-Equity of 1.86 is 215% above median its 10-year median of 0.59. Over the past 10 years, this metric has ranged from a low of 0.08 to a high of 1.87. The Capital Markets industry median Debt-to-Equity is 0.31. Morningstar's value of 1.86 is 509.8% above this industry median. Based on the distribution chart, Morningstar ranks #538 out of 610 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Morningstar has a GF Score™ of 81/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morningstar's Debt-to-Equity compare to FDS and OTCM?
According to the Capital Markets industry distribution chart, Morningstar ranks #538 out of 610 companies for Debt-to-Equity. This places Morningstar in the lower half of its industry. The industry median Debt-to-Equity is 0.31. Morningstar's value of 1.86 is 509.8% above this benchmark. Historically, Morningstar's own Debt-to-Equity has ranged from 0.08 to 1.87 over the past decade. While the company's 10-year median is 0.59 vs. the industry median of 0.31, Morningstar has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-Equity for a Capital Markets company?
The median Debt-to-Equity among Capital Markets companies is 0.31, based on 610 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morningstar's current Debt-to-Equity of 1.86 is 509.8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Morningstar and its competitors. For the Capital Markets industry, the median Debt-to-Equity is 0.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morningstar's current Debt-to-Equity is 1.86, which is 215% above median its own 10-year median of 0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Morningstar stock overvalued right now?
Based on GuruFocus' analysis, Morningstar (MORN) is currently considered Significantly Undervalued. The stock's GF Value™ is $355.82, compared to a current price of $192.51 — trading 45.9% below its estimated fair value. The current Debt-to-Equity is 1.86, which is 215% above median its 10-year median of 0.59 and 509.8% above the Capital Markets industry median of 0.31. Morningstar's overall GF Score™ is 81/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Morningstar (MORN), the current Debt-to-Equity is 1.86 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Morningstar (MORN) Overvalued in 2026?
Based on GuruFocus' analysis, Morningstar stock appears to be undervalued.
The current stock price of $192.51 is trading 45.9% below its estimated GF Value™ of $355.82.
GuruFocus considers Morningstar to be Significantly Undervalued.
Key valuation signals for MORN:
Debt-to-Equity: 1.86 (215% above median its 10-year median of 0.59)
GF Value™: $355.82 vs. price of $192.51 (45.9% below fair value)
Industry Position: 509.8% above the Capital Markets median (#538 of 610)
No single metric tells the full story. See the MORN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Morningstar Inc is a provider of independent investment insights to financial advisers, asset managers, and investors. It provides data and research insights on various investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time market data. The company has five reportable segments: Morningstar Direct Platform, PitchBook, Morningstar Credit, Morningstar Wealth, and Morningstar Retirement. Maximum revenue is derived from the Morningstar Direct Platform, which provides investors with comprehensive data, research, insights, and investment analysis through product areas such as Morningstar Data, Morningstar Direct, and Morningstar Advisor Workstation. Geographically, it generates maximum revenue from the USA.
81GF Score
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