S&P Global Inc. (SPGI)
NYSE: SPGI · Real-Time Price · USD
431.29
-0.87 (-0.20%)
At close: Aug 21, 2026, 4:00 PM EDT
431.55
+0.26 (0.06%)
After-hours: Aug 21, 2026, 7:53 PM EDT
S&P Global Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Net Income | 4,923 | 4,471 | 3,852 | 2,626 | 3,248 | 3,024 |
Depreciation & Amortization | 1,206 | 1,179 | 1,173 | 1,143 | 1,013 | 178 |
Loss (Gain) From Sale of Assets | -183 | -3 | -59 | 70 | -1,898 | -11 |
Asset Writedown & Restructuring Costs | 324 | 324 | 206 | 246 | 319 | 89 |
Loss (Gain) From Sale of Investments | -273 | -270 | - | - | - | - |
Stock-Based Compensation | 239 | 236 | 247 | 171 | 214 | 122 |
Provision & Write-off of Bad Debts | 49 | 39 | 43 | 28 | 24 | 14 |
Other Operating Activities | 3 | 107 | -8 | -114 | -79 | 252 |
Change in Accounts Receivable | -591 | -600 | -79 | -291 | 36 | -144 |
Change in Accounts Payable | 66 | -55 | 245 | 328 | 43 | 38 |
Change in Unearned Revenue | 71 | 327 | 222 | 352 | 37 | 198 |
Change in Income Taxes | 106 | 100 | 192 | -175 | -135 | -36 |
Change in Other Net Operating Assets | -211 | -204 | -345 | -674 | -219 | -126 |
Operating Cash Flow | 5,729 | 5,651 | 5,689 | 3,710 | 2,603 | 3,598 |
Operating Cash Flow Growth | 2.61% | -0.67% | 53.34% | 42.53% | -27.65% | 0.87% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Capital Expenditures | -156 | -195 | -124 | -143 | -89 | -35 |
Cash Acquisitions | -2,024 | -2,023 | -305 | -296 | 210 | -99 |
Divestitures | 395 | 49 | 168 | 1,014 | 3,509 | 16 |
Investment in Securities | 1,464 | 1,465 | 6 | -13 | -2 | -2 |
Investing Cash Flow | -321 | -704 | -255 | 562 | 3,628 | -120 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Short-Term Debt Issued | - | 715 | - | - | - | - |
Long-Term Debt Issued | - | 993 | - | 744 | 5,395 | - |
Total Debt Issued | 3,804 | 1,708 | - | 744 | 5,395 | - |
Short-Term Debt Repaid | - | - | - | -188 | -32 | - |
Long-Term Debt Repaid | - | -4 | -47 | - | -3,698 | - |
Total Debt Repaid | -3 | -4 | -47 | -188 | -3,730 | - |
Net Debt Issued (Repaid) | 3,801 | 1,704 | -47 | 556 | 1,665 | - |
Issuance of Common Stock | - | - | - | - | - | 13 |
Repurchase of Common Stock | -5,380 | -5,133 | -3,423 | -3,400 | -12,107 | -56 |
Common Dividends Paid | -1,156 | -1,170 | -1,134 | -1,147 | -1,024 | -743 |
Other Financing Activities | -325 | -331 | -394 | -289 | 140 | -227 |
Financing Cash Flow | -3,060 | -4,930 | -4,998 | -4,280 | -11,326 | -1,013 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Foreign Exchange Rate Adjustments | -54 | 62 | -61 | 12 | -123 | -82 |
Net Cash Flow | 2,294 | 79 | 375 | 4 | -5,218 | 2,383 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Free Cash Flow | 5,573 | 5,456 | 5,565 | 3,567 | 2,514 | 3,563 |
Free Cash Flow Growth | 2.99% | -1.96% | 56.01% | 41.88% | -29.44% | 2.06% |
Free Cash Flow Margin | 34.57% | 35.58% | 39.17% | 28.54% | 22.48% | 42.94% |
Free Cash Flow Per Share | 18.58 | 17.88 | 17.84 | 11.19 | 7.89 | 14.73 |
Levered Free Cash Flow | 5,448 | 4,878 | 5,093 | 4,681 | 3,285 | 2,827 |
Unlevered Free Cash Flow | 5,643 | 5,055 | 5,276 | 4,887 | 3,472 | 2,899 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | Dec '25 Dec 31, 2025 | Dec '24 Dec 31, 2024 | Dec '23 Dec 31, 2023 | Dec '22 Dec 31, 2022 | Dec '21 Dec 31, 2021 |
Cash Interest Paid | 390 | 390 | 391 | 369 | 240 | 130 |
Cash Income Tax Paid | 1,502 | 1,502 | 1,159 | 1,279 | 1,555 | 883 |
Change in Working Capital | -559 | -432 | 235 | -460 | -238 | -70 |