MorningstarMORN -1.91%77 EV-to-FCF is 16.46 as of Jun. 24, 2026, which is 41% below its 10-year median of 28.13. GuruFocus rates MORN with a GF Score™ of 77/100 and a GF Value™ of $351.43 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 443 Capital Markets companies, Morningstar ranks worse than 64.79% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Morningstar's Enterprise Value is $7,201 Mil.
Morningstar's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was $437 Mil. Therefore, Morningstar's EV-to-FCF for today is 16.46.
The historical rank and industry rank for Morningstar's EV-to-FCF or its related term are showing as below:
MORN'
s EV-to-FCF Range Over the Past 10 Years
Min: 16.18 Med: 28.13 Max: 95.19
Current: 16.46
During the past 13 years, the highest EV-to-FCF of Morningstar was 95.19. The lowest was 16.18. And the median was 28.13.
MORN's EV-to-FCF is ranked worse than 64.79% of 443
companies
in the Capital Markets industry
Industry Median: 9.42
vs MORN: 16.46
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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 $153.23.
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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Morningstar EV-to-FCF Related Terms
Morningstar EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Morningstar's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Morningstar's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Morningstar's EV-to-FCF falls into.
Morningstar's current Enterprise Value is $7,201 Mil.
Morningstar's Free Cash Flow 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 $437 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-FCF of 16.46 as of Jun. 24, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Morningstar and its competitors. This is 41% below median its historical median of 28.13. Over the past decade, Morningstar's EV-to-FCF has ranged from 16.18 to 95.19. According to the industry distribution chart, Morningstar ranks #287 out of 443 companies in the Capital Markets industry, placing it in the top 64.8%.
Is Morningstar's EV-to-FCF too high?
Morningstar's current EV-to-FCF of 16.46 is 41% below median its 10-year median of 28.13. Over the past 10 years, this metric has ranged from a low of 16.18 to a high of 95.19. The Capital Markets industry median EV-to-FCF is 9.42. Morningstar's value of 16.46 is 74.7% above this industry median. Based on the distribution chart, Morningstar ranks #287 out of 443 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Morningstar has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Morningstar's EV-to-FCF compare to FDS and OTCM?
According to the Capital Markets industry distribution chart, Morningstar ranks #287 out of 443 companies for EV-to-FCF. This places Morningstar in the lower half of its industry. The industry median EV-to-FCF is 9.42. Morningstar's value of 16.46 is 74.7% above this benchmark. Historically, Morningstar's own EV-to-FCF has ranged from 16.18 to 95.19 over the past decade. While the company's 10-year median is 28.13 vs. the industry median of 9.42, 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-FCF for a Capital Markets company?
The median EV-to-FCF among Capital Markets companies is 9.42, based on 443 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Morningstar's current EV-to-FCF of 16.46 is 74.7% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Morningstar and its competitors. For the Capital Markets industry, the median EV-to-FCF is 9.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Morningstar's current EV-to-FCF is 16.46, which is 41% below median its own 10-year median of 28.13. 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 $351.43, compared to a current price of $153.23 — trading 56.4% below its estimated fair value. The current EV-to-FCF is 16.46, which is 41% below median its 10-year median of 28.13 and 74.7% above the Capital Markets industry median of 9.42. Morningstar's overall GF Score™ is 77/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Morningstar (MORN), the current EV-to-FCF is 16.46 as of Jun. 24, 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 $153.23 is trading 56.4% below its estimated GF Value™ of $351.43.
GuruFocus considers Morningstar to be Significantly Undervalued.
Key valuation signals for MORN:
EV-to-FCF: 16.46 (41% below median its 10-year median of 28.13)
GF Value™: $351.43 vs. price of $153.23 (56.4% below fair value)
Industry Position: 74.7% above the Capital Markets median (#287 of 443)
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.
77GF Score
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