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%

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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 Segments Filings

S&P Global Inc. (SPGI) revenue by segment, product and region

Where the money comes from and where it goes

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 product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Subscription	7,865 51.28%	7,346 51.70%	6,963 55.72%	6,201 55.46%	3,255 39.23%	3,037 40.81%	2,843 42.44%	2,682 42.86%	2,454 40.48%	2,364 41.76%
Non-subscription / Transaction	3,144 20.50%	2,986 21.02%	2,093 16.75%	1,807 16.16%	2,320 27.96%	2,030 27.28%	1,625 24.26%	1,401 22.39%	1,574 25.96%	1,460 25.79%
Non-transaction	2,054 13.39%	1,858 13.08%	1,730 13.84%	1,640 14.67%	1,698 20.47%	1,500 20.16%	1,408 21.02%	1,408 22.50%	1,363 22.48%	1,259 22.24%
Asset-linked fees	1,206 7.86%	1,046 7.36%	859 6.87%	862 7.71%	800 9.64%	648 8.71%	623 9.30%	542 8.66%	484 7.98%	400 7.07%
Recurring variable revenue	623 4.06%	579 4.08%	504 4.03%	385 3.44%	—	—	—	—	—	—
Sales usage-based royalties	444 2.90%	393 2.77%	348 2.78%	286 2.56%	224 2.70%	227 3.05%	200 2.99%	225 3.60%	188 3.10%	178 3.14%
Revenue	15,336	14,208	12,497	11,181	8,297	7,442	6,699	6,258	6,063	5,661

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Market Intelligence	4,902 31.96%	4,633 32.61%	4,365 34.93%	3,797 33.96%	2,185 26.33%	2,046 27.49%	1,959 29.24%	1,833 29.29%	1,683 27.76%	1,661 29.34%	—	—	—	—	—	—	—
Ratings	4,549 29.66%	4,207 29.61%	3,177 25.42%	2,906 25.99%	4,097 49.38%	3,606 48.45%	3,106 46.37%	2,883 46.07%	2,988 49.28%	2,535 44.78%	2,428 45.70%	2,455 48.60%	2,274 48.36%	2,034 47.63%	1,767 44.69%	1,695 46.58%	1,537 26.18%
Energy	2,299 14.99%	2,142 15.08%	1,946 15.57%	1,685 15.07%	1,012 12.20%	938 12.60%	—	—	—	—	—	—	—	—	—	—	—
Indices	1,839 11.99%	1,617 11.38%	1,392 11.14%	1,328 11.88%	1,149 13.85%	989 13.29%	918 13.70%	837 13.37%	728 12.01%	638 11.27%	597 11.24%	552 10.93%	493 10.48%	388 9.09%	323 8.17%	273 7.50%	—
Mobility	1,747 11.39%	1,609 11.32%	1,484 11.87%	1,142 10.21%	0 0.00%	0 0.00%	—	—	—	—	—	—	—	—	—	—	—
Engineering Solutions	0 0.00%	0 0.00%	133 1.06%	323 2.89%	0 0.00%	0 0.00%	—	—	—	—	—	—	—	—	—	—	—
Platts	—	—	—	—	—	—	844 12.60%	815 13.02%	774 12.77%	925 16.34%	—	—	—	—	—	—	—
Market and Commodities Intelligence	—	—	—	—	—	—	—	—	—	—	2,376 44.72%	2,130 42.17%	—	—	—	—	—
Standard And Poor Capital IQ	—	—	—	—	—	—	—	—	—	—	—	—	1,170 24.88%	1,124 26.32%	1,031 26.07%	916 25.17%	—
S&P Global Platts	—	—	—	—	—	—	—	—	—	—	—	—	841 17.89%	793 18.57%	896 22.66%	811 22.29%	873 14.87%
Unallocated Amount to Segment [Member] (Deprecated 2013-01-31)	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	0 0.00%	—
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(56) (1.54%)	(49) (0.83%)
McGraw Hill Education	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2,387 40.66%
S&P Global Market Intelligence	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,122 19.11%
Eliminations	—	—	—	—	(146) (1.76%)	(137) (1.84%)	(128) (1.91%)	(110) (1.76%)	(110) (1.81%)	(98) (1.73%)	(88) (1.66%)	(86) (1.70%)	(76) (1.62%)	(69) (1.62%)	(63) (1.59%)	—	—
Operating Segments	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	3,639	5,870
Revenue	15,336	14,208	12,497	11,181	8,297	7,442	6,699	6,258	6,063	5,661	5,313	5,051	4,702	4,270	3,954	3,639	5,870

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Ratings	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Indices	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Market Intelligence	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Energy	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Mobility	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Engineering Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Platts	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Market and Commodities Intelligence	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
S&P Global Platts	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Standard And Poor Capital IQ	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Intersegment Eliminations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Unallocated Amount to Segment [Member] (Deprecated 2013-01-31)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
S&P Global Market Intelligence	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
McGraw Hill Education	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
UNITED STATES	9,322 60.79%	8,640 60.81%	7,542 60.35%	6,653 59.50%	5,012 60.41%	4,504 60.52%	3,976 59.35%	3,750 59.92%	3,658 60.33%	3,461 61.14%	3,202 60.27%	2,911 57.63%	2,723 57.91%	2,508 58.74%	2,373 60.02%	2,253 61.91%	4,144 70.60%	4,579 72.06%
Europe	3,531 23.02%	3,256 22.92%	2,822 22.58%	2,597 23.23%	1,995 24.04%	1,769 23.77%	1,659 24.76%	1,543 24.66%	1,473 24.29%	1,330 23.49%	1,265 23.81%	1,316 26.05%	1,226 26.07%	1,067 24.99%	951 24.05%	839 23.06%	964 16.42%	1,021 16.06%
Asia	1,640 10.69%	1,491 10.49%	1,375 11.00%	1,246 11.14%	874 10.53%	782 10.51%	710 10.60%	647 10.34%	594 9.80%	575 10.16%	566 10.65%	528 10.45%	483 10.27%	453 10.61%	423 10.70%	357 9.81%	468 7.97%	439 6.90%
Rest Of World	843 5.50%	821 5.78%	758 6.07%	685 6.13%	416 5.01%	387 5.20%	354 5.28%	318 5.08%	338 5.57%	295 5.21%	280 5.27%	296 5.86%	270 5.74%	242 5.67%	207 5.24%	190 5.22%	294 5.01%	316 4.98%
Revenue	15,336	14,208	12,497	11,181	8,297	7,442	6,699	6,258	6,063	5,661	5,313	5,051	4,702	4,270	3,954	3,639	5,870	6,355

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Remaining performance obligations	Q1 FY2026	$5.7B	$4.9B	+16.33%

	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021	Q2 FY2021	Q1 FY2021	Q4 FY2020	Q3 FY2020	Q2 FY2020	Q1 FY2020	Q4 FY2019	Q3 FY2019	Q2 FY2019	Q1 FY2019	Q4 FY2018	Q3 FY2018
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.