Deep analyst research — but the valuation is theirs, not yours.
| Feature | Lemma Analysis | Morningstar |
|---|---|---|
| Editable, self-driven valuation | ✓ | Analyst model |
| Four intrinsic-value models, side by side | ✓ | ✗ |
| Seven valuation multiples vs. the company’s own history | ✓ | Price / fair value |
| Investment thesis journal with review dates | ✓ | ✗ |
| Portfolio factor & drawdown analytics | ✓ | Premium |
| Stock screener | ✓ | ✓ |
| Analyst research reports | ✗ | ✓ |
| Economic-moat ratings | ✗ | ✓ |
| Free to start | ✓ | Limited |
Morningstar column checked against Morningstar’s own pages on . Its cheapest paid plan, Investor, lists at $34.95/mo · $249.00/yr in US dollars before tax and promotions — vendors change their prices, so check theirs before you buy.
Morningstar is a trusted research brand known for analyst fair-value estimates, economic-moat ratings and fund coverage. The research is deep, but the valuation is an analyst’s model behind a premium subscription — not a DCF you open up and drive yourself. Its Investor plan opens the analyst reports and the fair-value estimates; the free site carries far less of that research, so the part most people come for is the part behind the subscription.
Respected analyst research, economic-moat ratings and star ratings.
Excellent mutual-fund and ETF coverage with a long, trusted track record.
Decades of history as a research brand, which many investors find reassuring in itself.
Morningstar hands you a fair value; Lemma Analysis hands you the models. Edit the growth rate, the margins and the discount rate yourself, and compare a bear, base and bull case on each.
Advanced DCF, Ben Graham, Simple DCF and the Dividend Discount Model, drawn on one axis — an independent second opinion on any analyst target, and where the four disagree is the part of the argument worth your afternoon.
Unlimited valuations, the screener, portfolio analytics and a thesis-with-review-dates journal are one Ultimate plan with nothing above it — and every new account gets seven days of it.
Morningstar’s analyst reports, moat ratings and star ratings are a body of judgement we do not publish and do not try to replace. If an analyst’s view is the input you trust most, it is built around exactly that.
Mutual-fund and ETF analysis is one of Morningstar’s oldest strengths. Lemma Analysis can open an ETF listed on NASDAQ or NYSE, but it analyses companies, not fund holdings and fees.
If you would rather read a reasoned verdict than build one, Morningstar’s analysts do that work for you. Lemma Analysis hands you the models and expects you to argue with them — useful only if you want the argument.
Sign up in a moment — no credit card. Seven days of Ultimate come with it; the portfolio, the watchlists and the Quality Score stay free afterwards.
Open any ticker’s Intrinsic Value tab: Advanced DCF, Ben Graham, Simple DCF and the Dividend Discount Model, drawn on one axis against today’s price, with every assumption editable and a bear/base/bull case behind each.
Screen for candidates, then track them on a watchlist with a margin-of-safety target so each name carries an undervalued / fair / rich signal.
Record why you own each position and give it a review date. Reaffirm or exit when the date comes due — a habit the other tools don’t give you.
Yes. One Ultimate plan covers the editable valuation models without a daily limit, the screener, portfolio analytics and the thesis journal, with no research tier above it — and every new account gets seven days of it without a card.
Morningstar gives you an analyst’s fair value; Lemma Analysis gives you four models and every assumption behind them, so the figure is one you argued for rather than one you were handed. It also adds a thesis journal to track why you own each position.
Yes, and those are real strengths we don’t try to replicate. If your decisions lean on analyst research and moat ratings, Morningstar is strong there; if you want to drive the valuation yourself, that’s where Lemma Analysis fits.
Yes, for 3 companies a day: the four intrinsic-value models and the Fair Value tab open for that many companies with no account and no card, and a company you have already opened that day does not count again. Ultimate takes the limit away, and every new account gets seven days of it; what stays free besides is the portfolio, the watchlists, the five-pillar Quality Score and the company pages.
There is no direct import from Morningstar. Watchlists are quick to rebuild by ticker, and a portfolio comes across as transactions — typed in on the free plan, which holds 1 portfolio of up to 10 positions, or on Ultimate imported from your broker’s CSV export or synced from Trading 212 or Interactive Brokers. Start with the positions you know least well; that is where a written thesis earns its keep.
Free to start, seven days of Ultimate with it, no credit card.