S&P Global Inc.

SPGI · NYSE · Financials · Financial Data and Stock Exchanges

Next earnings: October 29, 2026

$403.300.0%Sep 25 close

1M: -8.9%
6M: +5.4%
1Y: -11.7%
5Y: -1.5%

S&P Global sells credit ratings, financial and commodity data, and investment benchmarks.

Built from S&P Global Inc.’s own filings with the SEC. Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Full financial statements →

About S&P Global Inc.

S&P Global sells information and tools used by investors, companies, governments, and people in energy markets. Its four current divisions provide credit ratings and research, investment indexes, energy and commodity prices and data, and financial data and software. Its automotive data business separated into an independent company on July 1, 2026.

Head office: New York City, New York, USA
Founded: 1925
Employees: approximately 44,500 (December 31, 2025, high)
Listed on: NYSE
Financial year ends: December 31

How it makes money

Subscriptions51%
Transaction fees21%
Non-transaction fees13%
Asset-linked fees8%
Recurring variable fees4%
Sales-usage royalties3%

Shares of revenue are estimates for year ended December 31, 2025, not figures from a filing.

Competes with

What it sells6

S&P Global Ratings
Credit opinions on the ability and willingness of companies and governments to repay debt, along with related research and analysis.
S&P 500 and other S&P Dow Jones Indices
Indexes that track groups of investments and are used as yardsticks for funds, financial products, and market performance.
Platts price assessments
Published assessments and benchmarks for prices of energy and other commodities, used by market participants in pricing and trading.

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Capital IQ Pro
A research and data service for finance and business professionals, with information on companies, markets, and investments.
Kensho LLM-ready application programming interfaces
Data feeds designed to let customers connect S&P Global information to artificial-intelligence systems and ask questions of that data.
ClearPar and Wall Street Office
Software used by financial institutions to manage lending and other financial work, including loan trading and related records.

Who buys it5

Companies, governments, and municipalities that pay for ratings when they issue debt, and may pay recurring fees to maintain ratings.
Banks, investment managers, insurers, and other financial firms that subscribe to company data, research, analytics, and software.
Fund providers that use S&P Dow Jones indexes and pay fees linked to assets in investment products.

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Energy and commodity producers, consumers, traders, and exchanges that buy data, price assessments, software, or licenses to use market-price information.

What it stands on, and what could break it

What the business leans on

1The business depends on access to proprietary and third-party data, and on being able to collect, process, license, and distribute that information.
2Ratings transaction revenue varies with debt issuance, while index fees can change with investment assets and trading activity; energy data and services are also affected by commodity-market conditions.
3

How it compares with its industry

Three ratings, each a percentile against the 14 companies we cover in Financial Data and Stock Exchanges. Deliberately kept apart rather than blended into one score — cheap, rising and well-run are three different facts, and a single number would hide which one is which.

Momentum

31of 100 in its industry

Below most of its industry

12 months to a month ago-16.3%

6 months to a month ago8.3%

The most recent month is left out on purpose: returns tend to persist over 7–12 months and the newest one tends to reverse. This describes what the price has done, and says nothing about what it will do.

Value

45of 100 in its industry

Middle of its industry

Profit for the price4.00%

Cash for the price4.65%

Sales for the price13.18%

Assets for the price26.07%

Operating profit for the whole business5.83%

Yields, so higher means cheaper — a loss-making company ranks last instead of dropping out. Cheap is not the same as good: a high yield is often a price that fell for a reason. All five measures available.

Capital allocation

5/6Mostly disciplined

All six answerable

Return on capital11.2%

Shareholder yield5.17%

Share count, 3 years-7.1%

Net debt / EBITDA1.55x

Insiders, 12 months+$1M

What management does with the money — scored on whatever the filings answer, never as a share of the total.

The six capital-allocation checks

Return on the money invested11.2% on invested capital
Debt against earnings1.55x net debt to operating earnings
Cash returned to shareholders5.2% a year in buybacks and dividends
Share count over three yearsShare count 7.1% lower over three years
Payouts covered by cash flowPays out more than it generates
Open-market insider buyingNet buying of $1M by 2 insiders

A description of where this company sits among its competitors, not a recommendation. Ratings updated Sep 26, 2026.

Corporations, government agencies, and professional-services firms that use company and industry data for analysis and decision-making.

Customers rely on the company's websites, software, networks, and data feeds to receive information and use its tools.

What could go wrong

1Lower bond issuance or changes in credit-market activity can reduce fees for ratings of new debt; changes in financial-market activity can also affect index-linked and trading-related revenue.
2Privacy, data-localization, data-protection, and ratings, index, or energy-market rules may change how the company collects, uses, and publishes data and benchmarks, or increase compliance costs.
3A cyberattack, system failure, or problem with a third-party data or software provider could interrupt service, delay or corrupt information, or expose confidential customer data.