MORNMorningstar, Inc.

$204.56-12% 1Y

Is the business good?

Mixed

The checks split: nothing decisive, though margins widening.

1 good, 1 neutral, 2 without data
Margin direction, 3 years+17.1 pts

Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.

Where ROE comes from10% ROA

Margin-driven, fat margins on slower asset turns. ROE 34% = margin × turnover × leverage.

All from derived.

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.