Morningstar, Inc. (MORN) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Low Risk

Limited dilution potential

Last updated: April 29, 2026

Risk Assessment Details

Potential Dilution: 0.0% of current shares

Recent Dilution: 0.23% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

39M

Potential Supply

Additional shares possible

Splits

None

Past 2 years

Summary

MORN currently has 39.1M outstanding shares. with minimal authorized share overhang for future dilution. The company has minimally diluted shareholders by 0.23% over the past 2 years.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding
Apr 29, 2026	10-Q filing \| 39.1M shares outstanding	39M
Oct 30, 2025	10-Q filing \| 42.1M shares outstanding	42M
Jul 31, 2025	10-Q filing \| 42.2M shares outstanding	42M
May 01, 2025	10-Q filing \| 42.8M shares outstanding	43M
Feb 28, 2025	10-K filing \| 42.8M shares outstanding	43M
Oct 25, 2024	10-Q filing \| 42.9M shares outstanding	43M
Jul 26, 2024	10-Q filing \| 42.8M shares outstanding	43M
Apr 26, 2024	10-Q filing \| 42.7M shares outstanding	43M
Feb 29, 2024	10-K filing \| 42.6M shares outstanding	43M
Nov 09, 2023	10-Q filing \| 42.7M shares outstanding	43M
Jul 28, 2023	10-Q filing \| 42.6M shares outstanding	43M
Apr 28, 2023	10-Q filing \| 42.5M shares outstanding	43M
Feb 24, 2023	10-K filing \| 42.6M shares outstanding	43M
Jan 31, 2023	8-K filing: Morningstar, Inc. entered into a Termination Agreement with Morningstar Japan K.K. and a Tender Offer Agreement with SBI Global Asset Management Co., Ltd. for SBI to acquire 10,000,000 shares of MJKK held by Morningstar, Inc.	43M
Oct 28, 2022	10-Q filing \| 42.5M shares outstanding	43M
Jul 29, 2022	10-Q filing \| 42.6M shares outstanding	43M
Apr 29, 2022	10-Q filing \| 43.0M shares outstanding	43M
Feb 25, 2022	10-K filing \| 43.0M shares outstanding	43M
Oct 29, 2021	10-Q filing \| 43.1M shares outstanding	43M
Jul 30, 2021	10-Q filing \| 43.0M shares outstanding	43M
Apr 30, 2021	10-Q filing \| 42.9M shares outstanding	43M
Feb 26, 2021	10-K filing \| 42.9M shares outstanding	43M
Oct 30, 2020	10-Q filing \| 42.9M shares outstanding	43M
Jul 31, 2020	10-Q filing \| 42.9M shares outstanding	43M
May 01, 2020	10-Q filing \| 42.9M shares outstanding	43M
Mar 02, 2020	10-K filing \| 43.2M shares outstanding	43M

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