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Saturday 31 October 2026 Export SPGI’s income statement to Excel — free account

S&P Global Inc.

SPGI Financial Financial Data & Stock Exchanges

In the quarter to June 2026, revenue grew 10.4%, EPS grew 16.6%, free cash flow grew 1.23% and total debt rose 33.2%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for ten; insiders bought in the last twelve months.

466.55 5.89 +1.28%
Market cap
$133.6B
P/E
28.4×
Fwd P/E
28.2×
Dividend yield
0.83%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Filings

Insider Decisions trades per month

Total buys 3.57
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — 1 — 2 1 — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.45%

Capital & Financial Ratios $m

Market Cap 133,550.00
Revenue 16,121.00
Net Income 5,317.00
Free Cash Flow 5,573.00
Net Debt 11,029.00
Current Ratio 0.95
Debt/Equity 0.48
P/E ratio 28.43
Fwd P/E 28.20
P/S ratio 8.54
P/B ratio 4.35
Past 5Y EPS Growth 8.70%
This Y EPS Growth 6.33%
Next Y EPS Growth 12.65%
Next Y revenue growth (2.97%) (below 0%: weak)
Next 5Y EPS Growth 10.53%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 37.94%
10-year low 10-year high
P/S against its own 10 years 38.56%
10-year low 10-year high
P/B against its own 10 years 30.86%
10-year low 10-year high

Dividends

Payout Ratio 0.24
Annual Dividend Rate 3.87
Annual Dividend Yield 0.83%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 3.92
0.97
0.97
0.97
2025 3.84
0.96
0.96
0.96
0.96
2024 3.64
0.91
0.91
0.91
0.91
2023 3.60
0.90
0.90
0.90
0.90
2022 3.32
0.77
0.85
0.85
0.85
2021 3.08
0.77
0.77
0.77
0.77
2020 2.68
0.67
0.67
0.67
0.67
2019 2.28
0.57
0.57
0.57
0.57
2018 2.00
0.50
0.50
0.50
0.50
2017 1.64
0.41
0.41
0.41
0.41
2016 1.44
0.36
0.36
0.36
0.36
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,317 1,686 1,801 4,141
Receivables 2,826 2,867 3,441 3,438
Inventory — — — —
Other 3,852 3,793 196 120
5,143 5,459 6,296 8,709
2023 2024 2025 Q'26
Payables 557 553 610 611
ST’ Debt 47 4 718 2,572
Other 1,033 869 1,053 1,194
6,125 6,392 7,637 9,125

Compound Annual Growth %

10y 5y 3y
Sales 11.18% 15.56% 11.11%
Cash Flow 31.85% 9.64% 29.48%
Earnings 14.48% 13.83% 11.24%
Book Value 62.52% 122.64% (5.04%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 4.43 Actual 4.58

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 4.32 4.30 Miss by 0.02
Q1 FY26 4.82 4.97 Beat by 0.15
Q2 FY26 4.49 4.83 Beat by 0.34
Q3 FY26 4.43 4.58 Beat by 0.15
Q4 FY26 4.04 — Reports 9 February 2027

EPS $

Mar Jun Sep Dec Year
’26 4.69 4.08 — — —
’25 3.54 3.50 3.86 3.75 14.66
’24 3.16 3.23 3.11 2.85 12.35
’23 2.47 1.60 2.33 1.83 8.23
’22 4.47 2.86 1.84 1.33 10.20
’21 3.12 3.30 3.30 2.79 12.51
’20 2.62 3.28 1.88 1.88 9.66
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4,171 4,146 — — —
’25 3,777 3,755 3,888 3,916 15,336
’24 3,491 3,549 3,575 3,593 14,208
’23 3,160 3,101 3,084 3,152 12,497
’22 2,389 2,993 2,861 2,938 11,181
’21 2,016 2,106 2,087 2,088 8,297
’20 1,786 1,943 1,846 1,867 7,442
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,037 1,439 — — —
’25 953 1,445 1,505 1,748 5,651
’24 948 1,556 1,445 1,740 5,689
’23 594 769 1,013 1,334 3,710
’22 222 454 814 1,113 2,603
’21 768 923 967 940 3,598
’20 680 937 809 1,141 3,567
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,010 1,401 — — —
’25 910 1,384 1,460 1,702 5,456
’24 924 1,524 1,410 1,707 5,565
’23 566 1,740 (25) 1,286 3,567
’22 2,824 1,318 797 (2,425) 2,514
’21 752 914 970 927 3,563
’20 669 930 784 1,108 3,491
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 74.31 105.84 153.73 160.90 182.55 297.78 274.05 315.09 400.00 419.09 +21.2% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 125.27 170.79 213.21 270.55 372.71 475.08 463.91 435.35 523.23 568.13 +18.3% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 20,000 20,400 21,200 22,500 23,000 22,850 39,950 40,450 42,350 44,500 +9.3% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 0.28 0.30 0.30 0.30 0.32 0.36 0.28 0.31 0.34 0.34 +2.2% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 5,661 6,063 6,258 6,699 7,442 8,297 11,181 12,497 14,208 15,336 +11.7% 14,880 15,702 16,821 +3.1%
Gross margin, % 68.68 72.06 70.63 70.50 71.86 73.73 66.43 66.86 69.31 70.25 +1.6 pt
EBT 3,188 2,461 2,681 2,930 3,228 4,164 4,702 3,671 5,308 6,227 +7.7%
EBT margin, % 56.32 40.59 42.84 43.74 43.38 50.19 42.05 29.38 37.36 40.60 (15.7) pt
Net income 2,228 1,638 2,121 2,303 2,534 3,263 3,522 2,893 4,167 4,820 +9.0%
Depreciation 181 180 206 204 206 178 1,013 1,143 1,173 1,179 +23.1%
Per share, $
Per share, $ Revenue 21.54 23.66 24.94 27.30 30.88 34.46 35.28 39.25 45.60 50.32 +9.9%
Earnings 8.02 5.84 7.80 8.65 9.71 12.56 10.25 8.25 12.36 14.67 +6.9%
Cash flow 5.94 7.87 8.23 11.31 14.80 14.94 8.21 11.65 18.26 18.54 +13.5%
Capex (0.44) (0.48) (0.45) (0.47) (0.32) (0.15) (0.28) (0.45) (0.40) (0.64) +4.3%
Free cash flow 5.50 7.39 7.78 10.84 14.49 14.80 7.93 11.20 17.86 17.90 +14.0%
Book value 2.67 2.99 2.73 2.18 2.37 8.75 115.11 107.73 106.73 102.48 +50.0%
Shares, m 263 256 251 245 241 241 317 318 312 305 +1.7%
Valuation, ×
Valuation, × P/E 13.26 28.34 21.32 30.97 33.22 36.87 31.20 51.90 39.53 34.95 32.2
P/S 4.94 6.97 6.69 9.81 10.44 13.44 9.32 10.91 10.72 10.19 9.3
P/B 39.87 55.19 61.16 122.65 136.13 52.92 2.86 3.97 4.58 5.00 48.4
EV/Sales 5.04 6.85 6.78 9.63 10.08 12.68 9.85 11.33 11.02 10.57 9.4
EV/FCF 19.73 21.95 21.75 24.25 21.49 29.53 43.81 39.70 28.13 29.70 28.0
Cash, $m
Cash, $m Operating cash flow 1,560 2,016 2,064 2,776 3,567 3,598 2,603 3,710 5,689 5,651 +15.4%
Capex (115) (123) (113) (115) (76) (35) (89) (143) (124) (195) +6.0%
Free cash flow 1,445 1,893 1,951 2,661 3,491 3,563 2,514 3,567 5,565 5,456 +15.9%
Balance, $m
Balance, $m Working capital 1,060 1,110 957 1,619 2,401 4,995 (332) (982) (933) (1,341) n/m
Total debt 3,564 3,569 3,662 4,060 4,210 4,210 10,956 11,459 11,398 13,088 +15.6%
Net debt 1,164 778 1,686 1,146 79 (2,306) 9,655 10,142 9,712 11,287 +28.7%
Shareholders’ equity 701 766 684 536 571 2,107 36,477 34,300 33,256 31,235 +52.5%
Returns, %
Returns, % ROA 24.99 16.54 20.76 20.42 19.59 21.94 8.46 4.29 6.38 7.36 (17.6) pt
ROIC 111.96 104.56 73.58 119.87 347.79 0.00 6.70 5.65 8.12 9.52 (102.4) pt
ROE 446.19 203.95 270.07 348.03 422.58 225.84 16.84 7.42 11.40 13.87 (432.3) pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
Subscription 7,865 51.28%
Non-subscription / Transaction 3,144 20.50%
Non-transaction 2,054 13.39%
Asset-linked fees 1,206 7.86%
Recurring variable revenue 623 4.06%
Sales usage-based royalties 444 2.90%
Gross margin 70.25%
Operating margin 42.24%
Pre-tax margin 40.60%

Revenue by segment since 2008

S&P Global Inc. vs peers in Financial Data & Stock Exchanges (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SPGI S&P Global Inc. $133.6B 28.4× 28.2× +10.41% (above 0%: growing) +16.57% (above 0%: growing) +1.23% (above 0%: growing) 71.90% 43.70%
CME CME Group Inc. $106.1B 25.5× 25.4× +0.84% (above 0%: growing) +2.85% (above 0%: growing) −11.21% (below 0%: shrinking) 100.00% 64.89% Compare
ICE Intercontinental Exchange Inc. $91.1B 23.7× 22.7× +4.84% (above 0%: growing) +14.09% (above 0%: growing) +29.65% (above 0%: growing) 98.61% 52.18% Compare
MCO Moody's Corporation $84.3B 31.2× 30.3× +15.12% (above 0%: growing) +56.52% (above 0%: growing) +47.01% (above 0%: growing) 76.29% 47.87% Compare
NDAQ Nasdaq, Inc. $58.6B 30.7× 29.4× +20.51% (above 0%: growing) +13.92% (above 0%: growing) −7.71% (below 0%: shrinking) 59.24% 28.12% Compare
MSCI MSCI Inc $44.2B 34.1× 31.4× +12.20% (above 0%: growing) +19.90% (above 0%: growing) +8.19% (above 0%: growing) 82.71% 56.23% Compare
COIN Coinbase Global, Inc. $42.4B — (loss-making) — (loss-making) −18.51% (below 0%: shrinking) n/m +128.50% (above 0%: growing) 84.44% (9.30%) Compare
CBOE Cboe Global Markets, Inc. $32.8B 25.9× — +22.95% (above 0%: growing) +50.67% (above 0%: growing) −270.85% (below 0%: shrinking) 50.71% 32.99% Compare
TRU TransUnion $14.4B 20.2× 17.7× +14.91% (above 0%: growing) +33.93% (above 0%: growing) +42.65% (above 0%: growing) 58.41% 19.70% Compare
Median of peers $51.4B 25.9× 27.4× +13.56% +19.90% +18.92% 79.50% 40.43%

All 14 Financial Data & Stock Exchanges stocks →

Business profile

Updated

S&P Global is headquartered in New York City and provides benchmarks, data, analytics and workflow tools for capital, energy, commodity and automotive markets. [record] Its main businesses are Market Intelligence, Ratings, Energy, Mobility and S&P Dow Jones Indices; Mobility was spun off and is treated as discontinued operations. [item1] [call_prepared]

Market Intelligence supplies financial, company, market and private-capital-market data, research and software used in investment and corporate workflows. Its Capital IQ platforms provide desktop, mobile, office, feed and API access to information and analytics. Enterprise Solutions supplies software for managing and analyzing data, risk, positions and regulatory requirements. [item1]

From the latest earnings call

Updated

  • Martina Cheung said S&P Global’s benchmark businesses account for nearly two-thirds of revenue and more than 80% of operating profits.
  • Cheung said Market Intelligence is being reorganized around Kensho Data and Platforms and Enterprise Solutions as customer demand for AI-enabled data evolves.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 87.55%
Held by the ten largest 38.58%
Holder Shares Stake Change
Vanguard 28.74m 9.75% −559.15k
BlackRock 23.98m 8.13% −89.87k
State Street 14.48m 4.91% +307.26k
TCI FUND MANAGEMENT LTD 14.08m 4.78% +46.65k
Morgan Stanley 7.31m 2.48% −598.90k
Geode Capital Management 6.90m 2.34% −14.28k
Wellington Management 5.33m 1.81% −735.17k
UBS 4.58m 1.55% −168.33k
Capital Group 4.27m 1.45% −162.94k
EAGLE CAPITAL MANAGEMENT LLC 4.07m 1.38% +2.64m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

S&P Global Inc. (SPGI) Latest News

30 Oct

Impact 3 ·

29 Oct

Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

28 Oct

Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
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27 Oct

Impact 4 ·
Impact 4 ·
Impact 4 ·
Impact 4 · transcript
Impact 4 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·
Impact 3 ·

SPGI metrics, ten years each

stockrow.com/SPGI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com