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MorningstarMORN -4.22%81 EV-to-EBITDA is 11.13 as of Jul. 30, 2026, which is 45% below its 10-year median of 20.36. 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 515 Capital Markets companies, Morningstar ranks worse than 57.28% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Morningstar's enterprise value is $8,610 Mil.
Morningstar's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was $773 Mil. Therefore, Morningstar's EV-to-EBITDA for today is 11.13.
The historical rank and industry rank for Morningstar's EV-to-EBITDA or its related term are showing as below:
MORN'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 9.59 Med: 20.36 Max: 40.05
Current: 11.13
During the past 13 years, the highest EV-to-EBITDA of Morningstar was 40.05. The lowest was 9.59. And the median was 20.36.
MORN's EV-to-EBITDA is ranked worse than 57.28% of 515
companies
in the Capital Markets industry
Industry Median: 9.48
vs MORN: 11.13
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Morningstar (NAS:MORN) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Morningstar's PE Ratio (TTM) for today is calculated as:
Morningstar's share price for today is $190.28.
Morningstar's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $9.820.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Morningstar's EV-to-EBITDA 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.
For the Financial Data & Stock Exchanges subindustry, Morningstar's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Morningstar's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Morningstar's EV-to-EBITDA falls into.
Morningstar's current Enterprise Value is $8,610 Mil.
Morningstar's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $773 Mil.
* 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 EV-to-EBITDA of 11.13 as of Jul. 30, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Morningstar. This is 45% below median its historical median of 20.36. Over the past decade, Morningstar's EV-to-EBITDA has ranged from 9.59 to 40.05. According to the industry distribution chart, Morningstar ranks #295 out of 515 companies in the Capital Markets industry, placing it in the top 57.3%.
Is Morningstar's EV-to-EBITDA too high?
Morningstar's current EV-to-EBITDA of 11.13 is 45% below median its 10-year median of 20.36. Over the past 10 years, this metric has ranged from a low of 9.59 to a high of 40.05. The Capital Markets industry median EV-to-EBITDA is 9.48. Morningstar's value of 11.13 is 17.4% above this industry median. Based on the distribution chart, Morningstar ranks #295 out of 515 companies in the Capital Markets industry, which is below the industry midpoint. 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 EV-to-EBITDA compare to FDS and OTCM?
According to the Capital Markets industry distribution chart, Morningstar ranks #295 out of 515 companies for EV-to-EBITDA. This places Morningstar in the lower half of its industry. The industry median EV-to-EBITDA is 9.48. Morningstar's value of 11.13 is 17.4% above this benchmark. Historically, Morningstar's own EV-to-EBITDA has ranged from 9.59 to 40.05 over the past decade. While the company's 10-year median is 20.36 vs. the industry median of 9.48, 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 EV-to-EBITDA for a Capital Markets company?
The median EV-to-EBITDA among Capital Markets companies is 9.48, based on 515 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morningstar's current EV-to-EBITDA of 11.13 is 17.4% 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 EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Morningstar. For the Capital Markets industry, the median EV-to-EBITDA is 9.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morningstar's current EV-to-EBITDA is 11.13, which is 45% below median its own 10-year median of 20.36. 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 $190.28 — trading 46.5% below its estimated fair value. The current EV-to-EBITDA is 11.13, which is 45% below median its 10-year median of 20.36 and 17.4% above the Capital Markets industry median of 9.48. 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 EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Morningstar (MORN), the current EV-to-EBITDA is 11.13 as of Jul. 30, 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 $190.28 is trading 46.5% below its estimated GF Value™ of $355.82.
GuruFocus considers Morningstar to be Significantly Undervalued.
Key valuation signals for MORN:
EV-to-EBITDA: 11.13 (45% below median its 10-year median of 20.36)
GF Value™: $355.82 vs. price of $190.28 (46.5% below fair value)
Industry Position: 17.4% above the Capital Markets median (#295 of 515)
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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