Despite Recent Progress, IHS Markit Still Has Ample Room for Margin Growth
Our $55 fair value estimate for wide-moat IHS Markit should not change much after on-track second-quarter results. We still call for mid-single-digit organic revenue growth and adjusted EBITDA margin expansion into the mid-40s (from 39% in fiscal 2018) through fiscal 2023.In the first half, IHS Markit saw sales of $2.2 billion against a 40% adjusted EBITDA margin. Management reiterated fiscal 2019 guidance of $4.425 billion-$4.50 billion in revenue and $2.52-$2.57 in adjusted diluted earnings p...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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