Morningstar Reports

OTC Markets Group has collaborated with Morningstar, a leading provider of independent investment research, to provide quantitative equity ratings and research reports to OTCQX and OTCQB companies and their investors. Morningstar quantitative metrics are derived from a statistical model designed to mimic Morningstar analyst-driven ratings, extending this widely recognized approach to many securities that may not otherwise be analyzed. Access to Morningstar quantitative equity ratings and research enables OTCQX and OTCQB companies to provide investors with an independent view of the company’s performance. This allows investors to better analyze and benchmark a company relative to its sector.

Morningstar Quantitative Equity Ratings

Morningstar equity ratings provide an independent measure of a stock’s valuation by comparing Morningstar’s quantitative fair value estimates with the stock’s most recent close price. A 3-star rating means a stock is trading very close to Morningstar’s quantitative fair value estimates and should, according to the Morningstar formula, offer a "fair return." Updated daily, ratings can change for three reasons: because Morningstar alters its estimate of a stock’s fair value, because a stock’s price changes, or both.

Morningstar equity ratings for OTCQX and OTCQB companies are displayed on their company quote page on

Morningstar Quantitative Equity Research Reports

Morningstar’s quantitative equity ratings are forward-looking, quantitatively derived ratings based on Morningstar’s analyst-driven equity ratings, offering insight beyond historical financial numbers alone.

The Quantitative Equity Research Report includes Morningstar’s quantitative equity ratings, along with comparisons to aggregate scores for the entire universe of rated companies as well as a company’s sector and country. The report also includes five years of historical financial data and a Competitive Advantage Trend chart, which displays the historical values of the Quantitative Economic Moat over the last seven years.

Available via, the daily report provides investors with independent data to more efficiently analyze, value and trade a security.


Morningstar Quantitative Equity Ratings

OTCQX and OTCQB Companies: Ratings displayed free of charge on

Morningstar Quantitative Equity Research Reports

OTCQX Companies: Research Reports available at no charge

Contact Corporate Services at or 212.896.4420 with any questions.

© 2016 Morningstar , Inc . All rights reserved . The information contained herein: ( 1 ) is proprietary to Morningstar and / or its content providers ; ( 2 ) may not be copied or distributed ; and ( 3 ) is not warranted to be accurate , complete , or timely . Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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