S&P Global Inc. (SPGI)

S&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through four segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, and S&P Dow Jones Indices. The S&P Global Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions. This segment offers Data, Analytics & Insights, a desktop product suite that provides data, analytics, and third-party research for global finance and corporate professionals; research, reference data, market data, derived analytics, and valuation services; enterprise solutions, such as software and workflow solutions; and credit and risk solutions for selling Ratings' credit ratings and related data and research, analytics, and financial risk solutions. The S&P Global Ratings segment operates as an independent provider of credit ratings, research, and analytics offering investors information and independent benchmarks for their investment and financial decisions as well as access to the capital markets. The S&P Global Energy segment provides information and benchmark prices for the energy and commodity markets. The S&P Dow Jones Indices segment operates as an index provider that maintains various valuation and index benchmarks for investment advisors, wealth managers, and institutional investors. It has operations in the United States, European region, Asia, and internationally. S&P Global Inc. was founded in 1860 and is headquartered in New York, New York.

Symbol: SPGI
Exchange: NYSE
Sector: Financial Services
Industry: Financial Data & Stock Exchanges
Market cap: $121.84B
52 week range: 361.03 - 522.47

Valuation

Share price: $388.16 (close of 2026-10-01)
P/E (TTM): 26.04x
Price to book: 3.89x
Price to free cash flow: 21.93x
Enterprise value: $133.81B
Book value per share: $100.00

Price performance

Period	Change
1 day	-1.60%
5 days	-3.74%
1 month	-11.82%
3 months	-6.46%
6 months	-3.50%
Year to date	-21.49%
1 year	-14.82%
3 years	+12.28%
5 years	-4.21%
10 years	+224.16%
All time	+50973.70%

Members of Congress who disclosed SPGI trades

Jared Moskowitz · Jefferson Shreve · Rick Allen · Thomas Kean · Val Hoyle · Alan Armstrong · Dan Newhouse · Daniel Goldman · Julie Johnson · Rick Larsen · Robert Bresnahan

Super investors holding SPGI

Chris Hohn (TCI Fund Management Ltd) · Bill Ackman (Pershing Square Capital Mgmt) · Valley Forge Capital (Valley Forge Capital Management) · John Armitage (Egerton Capital (UK) LLP) · Pat Dorsey (Dorsey Asset Management) · Triple Frond Partners (Triple Frond Partners LLC) · William Von Mueffling (Cantillon Capital Management LLC) · Christopher Bloomstran (Semper Augustus Investments Grroup LLC) · David Rolfe (Wedgewood Partners Inc)

Profitability and growth

Return on equity: 14.31%
Return on invested capital: 11.79%
Return on assets: 7.31%
Return on capital employed: 12.09%
Gross margin: 70.25%
Net margin: 29.15%
EBITDA margin: 49.93%
Revenue growth: 7.94%
Net income growth: 16.07%
Free cash flow growth: -1.96%

Cash flow and balance sheet

Free cash flow yield (TTM): 4.56%
Current ratio: 0.68x
Net debt to EBITDA: 1.47x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $15.34B
Cost of revenue: $4.56B
Gross profit: $10.77B
EBITDA: $7.66B
Net income: $4.47B
Earnings per share: $13.88
Shares outstanding: 322.17M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$15.34B	$10.77B	$4.47B	$13.88
2024-12-31	$14.21B	$9.85B	$3.85B	$11.69
2023-12-31	$12.50B	$8.36B	$2.63B	$7.81
2022-12-31	$11.18B	$7.43B	$3.25B	$9.70
2021-12-31	$8.30B	$6.12B	$3.02B	$11.88
2020-12-31	$7.44B	$5.35B	$2.34B	$9.19
2019-12-31	$6.70B	$4.72B	$2.12B	$8.18
2018-12-31	$6.26B	$4.42B	$1.96B	$7.38
2017-12-31	$6.06B	$4.37B	$1.50B	$5.53
2016-12-31	$5.66B	$3.89B	$2.11B	$7.59

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	70.25%	29.15%	14.31%	11.79%
2024-12-31	69.31%	27.11%	11.58%	10.20%
2023-12-31	66.86%	21.01%	7.66%	7.21%
2022-12-31	66.43%	29.05%	8.90%	8.06%
2021-12-31	73.73%	36.45%	143.52%	1102.99%
2020-12-31	71.86%	31.43%	409.63%	241.97%
2019-12-31	70.50%	31.69%	396.08%	111.93%
2018-12-31	70.63%	31.29%	286.26%	92.49%
2017-12-31	72.06%	24.67%	195.30%	113.84%
2016-12-31	68.68%	37.20%	300.43%	127.67%

Cash and debt by year

Period end	Cash	Debt
2025-12-31	$1.80B	$12.37B
2024-12-31	$1.69B	$11.39B
2023-12-31	$1.32B	$11.41B
2022-12-31	$1.30B	$10.73B
2021-12-31	$6.51B	$4.11B
2020-12-31	$4.12B	$4.11B
2019-12-31	$2.89B	$3.95B
2018-12-31	$1.94B	$3.66B
2017-12-31	$2.79B	$3.17B
2016-12-31	$2.40B	$3.56B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$5.46B	$236.00M
2024-12-31	$5.57B	$247.00M
2023-12-31	$3.57B	$171.00M
2022-12-31	$2.51B	$214.00M
2021-12-31	$3.56B	$122.00M
2020-12-31	$3.49B	$90.00M
2019-12-31	$2.66B	$78.00M
2018-12-31	$1.95B	$94.00M
2017-12-31	$1.89B	$99.00M
2016-12-31	$1.45B	$76.00M