SPGI · S&p Global Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.17B | - | $3.89B | $3.75B | $3.78B | $3.58B | $3.55B | $3.49B | - | $3.08B |
| Cost of Revenue | $1.24B | - | $1.12B | $1.12B | $1.15B | $1.07B | $1.08B | $1.12B | - | $995.00M |
| Gross Profit | $2.94B | - | $2.77B | $2.64B | $2.62B | $2.50B | $2.46B | $2.37B | - | $2.09B |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $802.00M | - | $805.00M | $803.00M | $764.00M | $808.00M | $734.00M | $705.00M | - | $741.00M |
| Total Operating Expenses | $2.34B | - | $2.22B | $2.22B | $2.21B | $2.17B | $2.11B | $2.11B | - | $2.02B |
| D&A | $31.00M | - | $28.00M | $26.00M | $25.00M | $22.00M | $25.00M | $23.00M | - | $22.00M |
| Operating Income | $2.00B | - | $1.68B | $1.55B | $1.58B | $1.43B | $1.45B | $1.39B | - | $1.07B |
| Interest Expense | $96.00M | - | $79.00M | $77.00M | $78.00M | $72.00M | $77.00M | $78.00M | - | $84.00M |
| Income Tax | $404.00M | - | $333.00M | $342.00M | $325.00M | $313.00M | $293.00M | $248.00M | - | $181.00M |
| Net Income | $1.40B | - | $1.18B | $1.07B | $1.09B | $971.00M | $1.01B | $991.00M | - | $742.00M |
| EPS - Basic | $4.69 | - | $3.86 | $3.50 | $3.55 | $3.12 | $3.23 | $3.16 | - | $2.34 |
| EPS - Diluted | $4.69 | - | $3.86 | $3.50 | $3.54 | $3.11 | $3.23 | $3.16 | - | $2.33 |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.81B | $1.75B | $1.67B | $1.85B | $1.67B | $1.70B | $2.04B | $1.54B | $1.29B | $1.65B |
| Accounts Receivable | $3.49B | $3.44B | $2.86B | $2.98B | $3.08B | $2.63B | $2.71B | $2.98B | $2.83B | $2.55B |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $510.00M | $610.00M | $418.00M | $532.00M | $525.00M | $475.00M | $477.00M | $458.00M | $557.00M | $458.00M |
| Current Assets | $6.32B | $6.30B | $5.65B | $5.88B | $5.34B | $5.20B | $5.64B | $5.43B | $5.14B | $4.80B |
| Total Assets | $60.79B | $61.20B | $59.75B | $60.40B | $60.22B | $60.37B | $60.96B | $60.48B | $60.59B | $60.56B |
| Current Liabilities | $9.34B | $7.64B | $5.80B | $5.98B | $5.92B | $5.50B | $5.50B | $5.88B | $6.13B | $5.22B |
| Long-term Debt | $10.62B | $12.37B | $11.38B | $11.38B | $11.39B | $11.40B | $11.40B | $11.40B | $11.41B | $11.41B |
| Total Liabilities | $24.59B | $25.05B | $22.05B | $22.43B | $22.71B | $21.98B | $21.97B | $22.23B | $22.49B | $21.54B |
| Stockholders' Equity | $31.17B | $31.13B | $33.13B | $33.39B | $33.37B | $33.99B | $34.88B | $34.33B | $34.20B | $35.42B |
| Retained Earnings | $24.80B | $23.67B | $23.29B | $22.40B | $21.80B | $20.36B | $19.96B | $19.43B | $18.73B | $18.73B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.04B | - | - | - | $953.00M | - | - | $948.00M | - | - |
| Investing Cash Flow | $291.00M | - | - | - | ($79.00M) | - | - | ($20.00M) | - | - |
| Financing Cash Flow | ($1.24B) | - | - | - | ($1.10B) | - | - | ($657.00M) | - | - |
| CapEx | $27.00M | - | - | - | $43.00M | - | - | $24.00M | - | - |
| Free Cash Flow | $1.01B | - | - | - | $910.00M | - | - | $924.00M | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 70.4% | - | 71.2% | 70.2% | 69.5% | 70.0% | 69.4% | 67.9% | - | 67.7% |
| Operating margin | 48.0% | - | 43.1% | 41.3% | 41.8% | 40.1% | 40.9% | 39.7% | - | 34.8% |
| EBITDA margin | 48.7% | - | 43.8% | 42.0% | 42.4% | 40.7% | 41.6% | 40.3% | - | 35.5% |
| Net margin | 33.4% | - | 30.2% | 28.5% | 28.9% | 27.2% | 28.5% | 28.4% | - | 24.1% |
| Free cash flow margin | 24.2% | - | - | - | 24.1% | - | - | 26.5% | - | - |
| FCF / Net income | 0.72 | - | - | - | 0.83 | - | - | 0.93 | - | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 19.2% | - | 20.7% | 21.4% | 20.2% | 22.6% | 20.7% | 20.2% | - | 24.0% |
| Effective tax rate | 22.5% | - | 22.1% | 24.2% | 23.0% | 24.4% | 22.5% | 20.0% | - | 19.6% |
| Return on assets | 2.3% | - | 2.0% | 1.8% | 1.8% | 1.6% | 1.7% | 1.6% | - | 1.2% |
| Return on equity | 4.5% | - | 3.5% | 3.2% | 3.3% | 2.9% | 2.9% | 2.9% | - | 2.1% |
| Return on invested capital | 3.7% | - | 2.9% | 2.6% | 2.7% | 2.4% | 2.4% | 2.4% | - | 1.8% |
| Liquidity | ||||||||||
| Current ratio | 0.68 | 0.82 | 0.97 | 0.98 | 0.90 | 0.94 | 1.03 | 0.92 | 0.84 | 0.92 |
| Quick ratio | 0.68 | 0.82 | 0.97 | 0.98 | 0.90 | 0.94 | 1.03 | 0.92 | 0.84 | 0.92 |
| Cash ratio | 0.19 | 0.23 | 0.29 | 0.31 | 0.28 | 0.31 | 0.37 | 0.26 | 0.21 | 0.32 |
| Leverage | ||||||||||
| Debt / Equity | 0.34 | 0.40 | 0.34 | 0.34 | 0.34 | 0.34 | 0.33 | 0.33 | 0.33 | 0.32 |
| Debt / Assets | 0.17 | 0.20 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 |
| Debt / EBITDA | 5.22 | - | 6.68 | 7.22 | 7.11 | 7.83 | 7.72 | 8.10 | - | 10.42 |
| Interest coverage | 20.9x | - | 21.2x | 20.1x | 20.2x | 19.9x | 18.9x | 17.8x | - | 12.8x |
| Equity multiplier | 1.95 | 1.97 | 1.80 | 1.81 | 1.80 | 1.78 | 1.75 | 1.76 | 1.77 | 1.71 |
| Liabilities / Assets | 0.40 | 0.41 | 0.37 | 0.37 | 0.38 | 0.36 | 0.36 | 0.37 | 0.37 | 0.36 |
| Efficiency | ||||||||||
| Asset turnover | 0.07 | - | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | - | 0.05 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 306d | - | 268d | 290d | 298d | 269d | 279d | 311d | - | 301d |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 151d | - | 136d | 174d | 166d | 162d | 160d | 149d | - | 168d |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 90.7x | - | 126.1x | 150.7x | 143.5x | 166.1x | 138.1x | 134.6x | - | 156.8x |
| P / B | 4.1x | - | 4.5x | 4.8x | 4.7x | 4.7x | 4.0x | 3.9x | - | 3.3x |
| P / S | 30.3x | - | 38.1x | 43.0x | 41.4x | 45.0x | 39.4x | 38.3x | - | 37.7x |
| EV / EBITDA | 66.6x | - | 92.7x | 108.4x | 103.6x | 117.2x | 100.9x | 101.9x | - | 114.9x |
| Growth | ||||||||||
| Revenue growth (YoY) | 10.4% | - | 8.8% | 5.8% | 8.2% | 15.9% | 14.4% | 10.5% | - | 7.8% |
| Revenue CAGR (3y) | 9.7% | - | 10.8% | 7.9% | 16.5% | 19.7% | 19.0% | 20.1% | - | 18.7% |
| Revenue CAGR (5y) | 15.7% | - | 16.1% | 14.1% | 16.2% | 16.2% | 15.8% | 17.3% | - | 15.3% |
| Gross profit growth (YoY) | 11.9% | - | 10.5% | 7.0% | 10.7% | 19.8% | 18.7% | 14.4% | - | 11.9% |
| Operating income growth (YoY) | 26.9% | - | 16.8% | 6.8% | 13.9% | 33.5% | 59.4% | 21.1% | - | 25.9% |
| Net income growth (YoY) | 28.0% | - | 21.1% | 6.0% | 10.0% | 30.9% | 97.8% | 24.7% | - | 22.0% |
| EPS growth (YoY) | 32.5% | - | 24.1% | 8.4% | 12.0% | 33.5% | 101.9% | 27.9% | - | 26.6% |
| EPS CAGR (3y) | 23.8% | - | 28.0% | 7.0% | -7.5% | -2.0% | -0.7% | 0.4% | - | 7.4% |
| EPS CAGR (5y) | 8.5% | - | 15.5% | 1.3% | 6.2% | 4.5% | 7.6% | 13.9% | - | 3.6% |
| FCF growth (YoY) | 11.0% | - | - | - | -1.5% | - | - | 63.3% | - | - |
| FCF CAGR (5y) | 6.1% | - | - | - | 6.3% | - | - | 27.6% | - | - |
| Book value growth (YoY) | -6.6% | - | -2.5% | -4.3% | -2.8% | -4.0% | -1.7% | -5.4% | -6.0% | -4.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$17.08B totalMarket Intelligence Segment$4.90B · 28.7%
Ratings Segment$4.55B · 26.6%
Energy Segment$2.30B · 13.5%
Indices Segment$1.84B · 10.8%
Mobility$1.75B · 10.2%
Mobility Segment$1.75B · 10.2%
Product / service
$6.04B totalSubscription$4.11B · 68.0%
Asset Linked Fees$1.21B · 20.0%
Recurring Variable Revenue$623.00M · 10.3%
Non Subscription Transaction$186.00M · 3.1%
Sales Usage Based Royalties$120.00M · 2.0%
Non Transaction($200.00M) · -3.3%
Geographic
$15.34B totalUS$9.32B · 60.8%
Europe$3.53B · 23.0%
Asia$1.64B · 10.7%
Rest Of World$843.00M · 5.5%
Peer comparison
Same SIC group: Services-Consumer Credit Reporting, Collection Agencies
Comparing S&P Global Inc. against the 5 most active filers in the same SIC group.
Dividends
$3.86/share trailing 12 months · +3.2% YoY
| Ex-date | Per share |
|---|---|
| May 29, 2026 | $0.9700 |
| Feb 25, 2026 | $0.9700 |
| Nov 25, 2025 | $0.9600 |
| Aug 26, 2025 | $0.9600 |
| May 28, 2025 | $0.9600 |
| Feb 26, 2025 | $0.9600 |
| Nov 26, 2024 | $0.9100 |
| Aug 27, 2024 | $0.9100 |
| May 29, 2024 | $0.9100 |
| Feb 26, 2024 | $0.9100 |
| Nov 27, 2023 | $0.9000 |
| Aug 25, 2023 | $0.9000 |
| May 25, 2023 | $0.9000 |
| Feb 23, 2023 | $0.9000 |
| Nov 25, 2022 | $0.8500 |
| Aug 25, 2022 | $0.8500 |
| May 26, 2022 | $0.8500 |
| Feb 9, 2022 | $0.7700 |
| Nov 24, 2021 | $0.7700 |
| Aug 25, 2021 | $0.7700 |
| May 25, 2021 | $0.7700 |
| Feb 23, 2021 | $0.7700 |
| Nov 24, 2020 | $0.6700 |
| Aug 25, 2020 | $0.6700 |