Morningstar has retired 25.2% of its shares since 2011, from 50,134,439 to 37,513,571.
At $207.37 a share, a market value of $7.8B. P/E 18.5, trailing twelve months to June 2026.
| Fiscal year | Date | Shares outstanding | Filing | |
|---|---|---|---|---|
| 2005 | 2006-03-02 | 40,371,921 | 10-K | cover page |
| 2006 | 2007-03-01 | 42,392,526 | 10-K | cover page |
| 2007 | 2008-02-29 | 45,375,260 | 10-K | cover page |
| 2008 | 2009-02-27 | 47,346,236 | 10-K | cover page |
| 2009 | 2009-12-31 | 48,768,541 | 10-K | |
| 2010 | 2011-02-18 | 49,977,816 | 10-K | |
| 2011 | 2012-02-20 | 50,134,439 | 10-K | |
| 2012 | 2013-02-22 | 46,424,454 | 10-K | |
| 2013 | 2014-02-21 | 44,700,741 | 10-K | |
| 2014 | 2015-02-20 | 44,354,426 | 10-K | |
| 2015 | 2016-02-19 | 42,911,386 | 10-K | |
| 2016 | 2017-02-17 | 42,930,200 | 10-K | |
| 2017 | 2018-02-16 | 42,498,136 | 10-K | |
| 2018 | 2019-02-15 | 42,587,504 | 10-K | |
| 2019 | 2020-02-14 | 42,853,091 | 10-K | |
| 2020 | 2021-02-12 | 42,903,180 | 10-K | |
| 2021 | 2022-02-11 | 42,962,319 | 10-K | |
| 2022 | 2023-02-10 | 42,480,051 | 10-K | |
| 2023 | 2024-02-16 | 42,728,182 | 10-K | |
| 2024 | 2025-02-21 | 42,839,680 | 10-K | |
| 2025 | 2026-02-06 | 39,583,760 | 10-K |
Source: all 10-K filings of Morningstar on EDGAR. Download this series as CSV. Licence CC BY 4.0, credit Buyback Radar.
The story
Every Monday we write about one of these companies.
Read the full storyCash spent comes from the cash flow statement. Shares outstanding fell by less than the company bought, because part of every buyback only replaces shares handed to employees. Today’s price is $207.37.
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Yes. Morningstar has 8.8% fewer shares outstanding than twelve months ago, 37,513,571 as of July 24, 2026. Over five years the share count is down 13.0%.
Net of every new share it issued, Morningstar has 12.6 million fewer shares than at its 2011 peak. That is 25.2% of the company.
37,513,571 shares, as of July 24, 2026, from the cover page of its latest 10-Q. At the 2011 peak it had 50,134,439.
Each share is a bigger slice of the company. Someone who held Morningstar stock in 2011 owns 1.3 times as much of the business today without buying another share. Whether that was a good use of cash depends on the price paid.
Morningstar ranks No. 328 of 467 companies on Buyback Radar by share of the company retired since its peak. Close to it on the list: Lennar (25.3%), Paycom Software (25.3%), Werner Enterprises (24.9%), Minerals Technologies (24.8%).
Every answer is computed from Morningstar's own SEC filings and rebuilt every Monday. Latest count: 10-Q on EDGAR.
From the latest 13F filings. All superinvestors.
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