Morningstar, Inc. (MORN) › Shares OutstandingMorningstar, Inc. (MORN) — Shares OutstandingAnnual figures by fiscal year, from SEC filings.2008: 49.21M2009: 49.79M2010: 50.55M2011: 50.99M2012: 49.15M2013: 46.50M2014: 44.90M2015: 44.30M2016: 43.30M2017: 43.00M2018: 43.00M2019: 43.20M2020: 43.20M2021: 43.40M2022: 42.90M2023: 42.90M2024: 43.10M2025: 42.20M42.20M2008Shares Outstanding (shares)2025Fiscal YearShares OutstandingChange YoY202542.20M-2.1%202443.10M+0.5%202342.90M+0.0%202242.90M-1.2%202143.40M+0.5%202043.20M+0.0%201943.20M+0.5%201843.00M+0.0%201743.00M-0.7%201643.30M-2.3%201544.30M-1.3%201444.90M-3.4%201346.50M-5.4%201249.15M-3.6%201150.99M+0.9%201050.55M+1.5%200949.79M+1.2%200849.21M—Other metrics: RevenueCost of RevenueGross ProfitOperating IncomeNet IncomeEPS (Diluted)Total AssetsTotal LiabilitiesShareholders' EquityCash & EquivalentsOperating Cash FlowCapital ExpendituresDividends Per Share