MORN FY2025 SEC EDGAR DEF 14A #11 of 31 in industry

Morningstar, Inc. CEO pay ratio

The CEO earned $9.0M in FY2025 against median worker pay of $86,916 · Security & Commodity Brokers.

Security & Commodity Brokers peers All rankings
State
IL
Filing date
2026-03-27
Industry
Security & Commodity Brokers
Industry rank
#11/31

Data updated August 2026

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CEO-to-worker pay ratio
104:1
Moderate (Scale: 0–1000:1)
CEO pay
$9.0M
Median worker
$86,916

Answer first

Morningstar, Inc.'s FY2025 CEO total of $9.0M ranks #595 of 1,423 complete filings; its 104:1 pay ratio ranks #614. Dollar rank is not ratio rank.

According to the same FY2025 complete-filing cohort used on the rankings boards (CEO total, median worker, and ratio all present). Median worker pay is $86,916. Industry placement uses the FY2025 SIC-62 peer cohort (# 11 of 31, 68th percentile - above the industry median pay ratio). Figures come from Section 953(b) Dodd-Frank DEF 14A disclosures - not estimates. View all Security & Commodity Brokers companies.

Dollar rank
#595
$9.0M of 1,423 FY2025
Ratio rank
#614
104:1 of 1,423
Industry pct
68th
above the industry median pay ratio

How Morningstar, Inc. ranks nationally

Morningstar, Inc. CEO pay vs. every FY2025 complete filing

Total CEO compensation, the full national distribution, this company marked

$9,039,264 Top 42% higher than 58% of 1,423 companies

$0–$2,500,000: 304 companies (21%). Below this entry. $2,500,000–$5,000,000: 182 companies (13%). Below this entry. $5,000,000–$7,500,000: 208 companies (15%). Below this entry. $7,500,000–$10,000,000: 192 companies (13%). This entry sits in this band. $10,000,000–$12,500,000: 139 companies (10%). Above this entry. $12,500,000–$15,000,000: 91 companies (6%). Above this entry. $15,000,000–$17,500,000: 88 companies (6%). Above this entry. $17,500,000–$20,000,000: 54 companies (4%). Above this entry. $20,000,000–$22,500,000: 24 companies (2%). Above this entry. $22,500,000–$25,000,000: 34 companies (2%). Above this entry. $25,000,000–$27,500,000: 24 companies (2%). Above this entry. $27,500,000–$30,000,000: 16 companies (1%). Above this entry. $30,000,000–$32,500,000: 10 companies (1%). Above this entry. $32,500,000–$35,000,000: 7 companies (0%). Above this entry. $35,000,000–$37,500,000: 9 companies (1%). Above this entry. $37,500,000–$40,000,000: 6 companies (0%). Above this entry. $40,000,000–$42,500,000: 1 companies (0%). Above this entry. $42,500,000–$45,000,000: 1 companies (0%). Above this entry. $45,000,000–$47,500,000: 6 companies (0%). Above this entry. $47,500,000–$50,000,000: 27 companies (2%). Above this entry. This company $0 $50M+ every complete-filing company, bucketed by value

Each bar is a $2500K-wide band; taller bars hold more companies. The dashed line + filled bar mark this entry. Hover or tap any bar for its full count, share, and where it sits relative to this entry.

Source SEC DEF 14A Section 953(b) disclosures, PlainCEOPay extract · FY2025

Morningstar, Inc. vs. Security & Commodity Brokers peers

CEO total pay ($9.0M) against pay ratio (104:1) for Morningstar, Inc. (marked) and its 5 closest same-industry peers, against the Security & Commodity Brokers industry median on both axes.

Pay + gap both highContained pay, wide gapHigh pay, contained gapBelow peer norms on both05411469.710822939.316234409.021645878.751.1:172.6:194:1115.5:1136.9:1CEO total payPay ratio (CEO : median worker)Morningstar, Inc., CEO total pay: 9039264 · Pay ratio (CEO : median worker): 104:1Morningstar, Inc.Cboe Global Markets, Inc., CEO total pay: 197994 · Pay ratio (CEO : median worker): 102:1Cboe Global Markets, Inc.Tradeweb Markets Inc., CEO total pay: 20620952 · Pay ratio (CEO : median worker): 87:1Tradeweb Markets Inc.Victory Capital Holdings, Inc., CEO total pay: 16198444 · Pay ratio (CEO : median worker): 86:1Victory Capital Holdings, Inc.Janus Henderson Group Ltd., CEO total pay: 15006400 · Pay ratio (CEO : median worker): 83:1Janus Henderson Group Ltd.Invesco Ltd., CEO total pay: 122418 · Pay ratio (CEO : median worker): 133:1Invesco Ltd.
Morningstar, Inc. vs. Security & Commodity Brokers peers, plotted against the industry's $8.1M median CEO total and 55:1 median pay ratio.

Ratio bands among Security & Commodity Brokers peers

Exclusive CEO-to-median-worker bands across 30 complete latest-FY filings in SIC 62. Segments sum to the peer set, not this company's compensation pillar.

CEO Compensation Breakdown, FY2025

A component-level pay breakdown is not reported in Morningstar, Inc.'s structured SEC pay-ratio disclosure. See our methodology →

Filing-year trail · Morningstar, Inc.

Complete DEF 14A pay-ratio filings for this CIK across FY2021–2025. Year-over-year deltas compare adjacent filing years only; incomplete dollar rows are omitted (same completeness gate as the hero figures).

Latest ratio
104:1
FY2025
vs prior FY
-21:1
from FY2024 125:1
CEO $ YoY
+4.4%
$9.0M latest
Filings shown
5
FY2021–2025
Morningstar, Inc. CEO total compensation, median worker pay, and pay ratio by fiscal year from SEC EDGAR DEF 14A.
FY CEO pay Δ pay Median worker Pay ratio Δ ratio
2021 $5.6M - $63,500 88:1 -
2022 $6.3M +13% $55,345 114:1 +26:1
2023 $7.3M +15% $63,861 114:1 0:1
2024 $8.7M +19% $69,270 125:1 +11:1
2025 $9.0M +4.4% $86,916 104:1 -21:1

Source: SEC EDGAR DEF 14A pay-ratio disclosures for CIK 1289419, FY2021–2025. Adjacent-year deltas only.

Industry Comparison - Security & Commodity Brokers

This Company's Ratio
104:1
Industry Median Ratio
55:1
Industry Median CEO Pay
$8.1M
This CEO's Pay
$9.0M
Companies in Industry
31
vs. Industry Median
Above
#11 of 31 by pay ratio in this industry View all companies in Security & Commodity Brokers →

Morningstar, Inc.: MID · HEAVY pay ratio

Morningstar, Inc.'s FY2025 ratio 104:1 ranks #11 of 31 Security & Commodity Brokers filers (68th percentile). the CEO earned 104× the median employee ($86,916) in FY2025.

Median employee $86,916 (HIGH-MED); MID · HEAVY stamps put about 104 median-wage years per CEO year.

CEO Total Pay

$9.0M

FY2025 Summary Compensation, above median

Pay Ratio

104:1

Near industry median

Morningstar, Inc. in the higher Security & Commodity Brokers third

Morningstar, Inc.'s FY2025 ratio 104:1 ranks #11 of 31 Security & Commodity Brokers filers (68th percentile). The structured pay-ratio disclosure reports the total without line-item components. Security & Commodity Brokers (SIC 62) median ratio is 55:1 across 31 FY2025 filers; Morningstar, Inc.'s $9.0M CEO total is above the $8.1M industry median CEO pay.

Dollar rank #595 and ratio rank #614 split - treat 104:1 as a disclosure, not a fairness score. Open Security & Commodity Brokers peers.

Key Data, FY2025

Total Compensation
$9.0M
Median Employee Pay
$86,916
Pay Ratio
104:1
Filing Date
2026-03-27

Company Info

Ticker
MORN
CIK
1289419
Industry
Security & Commodity Brokers
SIC Code
6282
State
IL
View SEC filings →
SEC EDGAR DEF 14A for CIK 1289419, FY2025. Informational only, not investment advice. Verify on EDGAR.

Read our methodology - how this data is sourced, computed, and verified. Morningstar, Inc.'s FY2025 ratio 104:1 ranks #11 of 31 Security & Commodity Brokers filers (68th percentile).

Read with Morningstar, Inc.

ABS(ceo_total_comp) peers first, then a SIC pole and a stamp-branched guide - not a fixed Related strip. This page stamps MID · HEAVY · HIGH-MED.

Helmerich & Payne, Inc. · HEAVY

ABS(ceo_total_comp) peer at $9.0M (Δ $24 lighter vs Morningstar, Inc.); MODEST · ELITE-MED vs this page's MID · HEAVY · HIGH-MED.
Soundhound Ai, Inc. · HEAVY

ABS(ceo_total_comp) peer at $9.0M (Δ $10K lighter vs Morningstar, Inc.); MODEST · ELITE-MED vs this page's MID · HEAVY · HIGH-MED.
PERRIGO Co plc · HEAVY

ABS(ceo_total_comp) peer at $9.0M (Δ $13K lighter vs Morningstar, Inc.); MID · HIGH-MED vs this page's MID · HEAVY · HIGH-MED.
Peabody Energy Corp · HEAVY

ABS(ceo_total_comp) peer at $9.0M (Δ $14K lighter vs Morningstar, Inc.); MODEST · ELITE-MED vs this page's MID · HEAVY · HIGH-MED.
Cboe Global Markets, Inc. (SIC 62 pole)

Cboe Global Markets, Inc. stamps MID · MICRO nearest in-SIC by ABS(pay_ratio) to Morningstar, Inc.'s MID filing.
National dual ranks · #595/#614

Morningstar, Inc.'s FY2025 package sits #595 by CEO dollars and #614 by ratio under HEAVY · MID.
Comp structure · HEAVY

Morningstar, Inc.'s HEAVY CEO total is equity-sensitive - read what grant-date fair value does and does not mean.
Data sourced from SEC EDGAR DEF 14A for Morningstar, Inc. (CIK 1289419), FY2025. See our methodology. Aggregated by PlainCEOPay as of August 2026.

Data currency: Executive compensation from SEC EDGAR DEF 14A proxy statements through fiscal year 2025, compiled and last refreshed August 2026. See our methodology for source dates and refresh cadence. Spot a figure that looks wrong? Report a correction.