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      <liveTestFlag>LIVE</liveTestFlag>



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    <issuerInfo>
      <issuerCik>0001289419</issuerCik>
      <issuerName>Morningstar, Inc.</issuerName>
      <secFileNumber>000-51280</secFileNumber>
      <issuerAddress>
        <com:street1>22 WEST WASHINGTON STREET</com:street1>
        <com:city>CHICAGO</com:city>
        <com:stateOrCountry>IL</com:stateOrCountry>
        <com:zipCode>60602</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>(312) 696-6000</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Kaplan Steven N</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Director</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Charles Schwab &amp; Co., Inc.</name>
        <address>
          <com:street1>3000 Schwab Way</com:street1>
          <com:city>Westlake</com:city>
          <com:stateOrCountry>TX</com:stateOrCountry>
          <com:zipCode>76262</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>1250</noOfUnitsSold>
      <aggregateMarketValue>383516.00</aggregateMarketValue>
      <noOfUnitsOutstanding>42728182</noOfUnitsOutstanding>
      <approxSaleDate>03/11/2023</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <acquiredDate>05/15/2018</acquiredDate>
      <natureOfAcquisitionTransaction>Restricted Stock Lapse</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Morningstar, Inc.</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>1250</amountOfSecuritiesAcquired>
      <paymentDate>05/15/2018</paymentDate>
      <natureOfPayment>Equity Compensation</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <noticeSignature>
      <noticeDate>03/11/2024</noticeDate>
      <planAdoptionDates>
        <planAdoptionDate>08/03/2023</planAdoptionDate>
      </planAdoptionDates>
      <signature>Steven N Kaplan</signature>
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144
0001324001
XXXXXXXX
LIVE
0001289419
Morningstar, Inc.
000-51280
22 WEST WASHINGTON STREET
CHICAGO
IL
60602
(312) 696-6000
Kaplan Steven N
Director
Common
Charles Schwab & Co., Inc.
3000 Schwab Way
Westlake
TX
76262
1250
383516.00
42728182
03/11/2023
NASDAQ
Common
05/15/2018
Restricted Stock Lapse
Morningstar, Inc.
N
1250
05/15/2018
Equity Compensation
Y
03/11/2024
08/03/2023
Steven N Kaplan