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Introducing the Morningstar Capital Allocation Rating

Learn what we look for when rating a company.

Mark LaMonica: So, I'm here with Matt Hodge. We're talking about the Morningstar Capital Allocation Rating, which is replacing the Stewardship Rating. So, Matt, what has changed?

Mathew Hodge: Basically, we've taken a fresh look at our Capital Allocation Rating and we've decided to focus on three key things, which are balance sheet, investment, and shareholder distributions, and those are the three things that management has control over and they are the three things that management can spend money on.