S&P Global Inc. (SPGI)

S&P Global Financials Overview

Financials in millions USD. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	16,293	15,336	14,208	12,497	11,181	8,297
Revenue Growth	18.85%	7.94%	13.69%	11.77%	34.76%	11.49%
Gross Profit Gross Profit Growth	11,567	10,773	9,847	8,356	7,428	6,117
Operating Income Operating Income Growth	7,184	6,465	5,792	4,573	3,941	4,532
Net Income Net Income Growth	4,986	4,471	3,852	2,626	3,248	3,024
Earnings Per Share EPS Growth	16.81	14.66	12.35	8.23	10.20	12.51
EPS Growth	22.31%	18.70%	50.06%	-19.31%	-18.46%	29.50%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Subscription Subscription Growth	7,827	7,865	7,346	6,963	6,201	3,255
Non-Subscription / Transaction Non-Subscription / Transaction Growth	3,355	3,144	2,986	2,093	1,807	2,320
Non-Transaction Non-Transaction Growth	2,166	2,054	1,858	1,730	1,640	1,698
Asset-Linked Fees Asset-Linked Fees Growth	1,391	1,206	1,046	859	862	800
Sales Usage-Based Royalties Sales Usage-Based Royalties Growth	497	444	393	348	286	224
Recurring Variable Recurring Variable Growth	675	623	579	504	385	-
Revenue (Total) Revenue (Total) Growth	15,911	15,336	14,208	12,497	11,181	8,297

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	2,441	1,801	1,686	1,316	1,300	6,508
Total Debt Total Debt Growth	13,583	13,706	12,042	12,105	11,651	4,972
Net Cash (Debt) Net Cash Growth	-11,142	-11,905	-10,356	-10,789	-10,351	1,536
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-37.55	-39.02	-33.20	-33.83	-32.50	6.35

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	5,830	5,651	5,689	3,710	2,603	3,598
Capital Expenditures CapEx Growth	-155	-195	-124	-143	-89	-35
Free Cash Flow Free Cash Flow Growth	5,675	5,456	5,565	3,567	2,514	3,563
Free Cash Flow Growth	3.84%	-1.96%	56.01%	41.88%	-29.44%	2.06%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	70.99%	70.25%	69.31%	66.86%	66.43%	73.72%
Operating Margin	44.09%	42.16%	40.77%	36.59%	35.25%	54.62%
Pretax Margin	44.98%	40.60%	37.36%	29.38%	42.05%	50.19%
Profit Margin	30.60%	29.15%	27.11%	21.01%	29.05%	36.45%
FCF Margin	34.83%	35.58%	39.17%	28.54%	22.48%	42.94%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 1, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	3.880	3.840	3.640	3.600	3.320	3.080
Dividend Per Share Growth	1.04%	5.50%	1.11%	8.43%	7.79%	14.92%
Dividend Yield	0.83%	0.73%	0.73%	0.81%	0.98%	0.65%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 1, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	27.75	35.39	40.08	53.14	33.60	37.59
Forward PE	23.98	27.05	30.80	31.78	28.21	33.66
P/FCF Ratio	23.83	29.00	27.74	39.12	43.41	31.91
PS Ratio	8.30	10.32	10.87	11.17	9.76	13.70

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Oct 28, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Nov 1, 2026

Data Sources Report a data error