MORNINGSTAR, INC.
Income Statement
| Line Item | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $911.7M | $798.6M | $788.8M | $760.1M | $698.3M | $658.3M | $631.4M | $555.4M |
| Cost of Revenue | $386.6M | $344.3M | $330.1M | $318.6M | $271.4M | $246.8M | $235.3M | $157.1M |
| Gross Profit | $525.1M | $454.3M | $458.7M | $441.5M | $426.9M | $411.5M | $396.1M | $398.3M |
| Gross Margin | 57.6% | 56.9% | 58.2% | 58.1% | 61.1% | 62.5% | 62.7% | 71.7% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | $51.4M | $53.2M | $49.2M |
| SG&A Expense | $129.8M | $105.2M | $107.1M | $108.9M | $106.9M | $108.9M | $108.1M | $92.8M |
| Operating Income | $169.8M | $180.8M | $190.6M | $105.6M | $170.7M | $150.7M | $138.4M | $121.1M |
| Operating Margin | 18.6% | 22.6% | 24.2% | 13.9% | 24.4% | 22.9% | 21.9% | 21.8% |
| Interest Expense | — | — | — | — | $228.0K | $311.0K | $1.3M | $281.0K |
| Pretax Income | $181.1M | $224.9M | $193.7M | $114.0M | $178.0M | $153.6M | $140.1M | $127.8M |
| Income Tax Expense | $42.9M | $63.7M | $62.7M | $35.7M | $56.0M | $52.9M | $43.7M | $42.8M |
| Net Income | $136.9M | $161.0M | $132.6M | $78.3M | $123.5M | $108.1M | $98.4M | $86.4M |
| Net Margin | 15.0% | 20.2% | 16.8% | 10.3% | 17.7% | 16.4% | 15.6% | 15.6% |
| EPS (Basic) | $3.21 | $3.74 | $3.00 | $1.75 | $2.68 | $2.23 | $1.96 | $1.75 |
| EPS (Diluted) | $3.18 | $3.72 | $3.00 | $1.74 | $2.66 | $2.20 | $1.92 | $1.70 |
| Shares Outstanding (Basic) | 42.7M | 43.0M | 44.2M | 44.7M | 46.2M | 48.5M | 50.0M | 49.2M |
| Shares Outstanding (Diluted) | 43.0M | 43.3M | 44.3M | 44.9M | 46.5M | 49.1M | 51.0M | 50.6M |
| Dividends Per Share | $0.94 | $0.89 | $0.79 | $0.70 | $0.55 | $0.43 | $0.25 | $0.05 |