Morningstar, Inc. Reports Fourth-Quarter, Full-Year 2023 Financial Results
Cash flows were impacted by items described in the Balance Sheet and Capital Allocation section totaling $90.8 million.
- Cash flows were impacted by items described in the Balance Sheet and Capital Allocation section totaling $90.8 million.
- Adjusted operating income was $113.0 million in the fourth quarter of 2023, an increase of 70.2% compared with the prior-year period.
- Free cash flow increased by 17.2% to $197.3 million for the full year 2023, compared with $168.3 million in the prior year.
- Operating cash flow and free cash flow in 2023 were impacted by the termination of the Company's license agreement with Morningstar Japan K.K.