S&P Global Inc. (SPGI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$5.02	$4.87	-3.0%	—	$4.1B	—
Q1 26	$4.82	$4.97	+3.1%	—	$4.2B	—
Q4 25	$4.22	$4.43	+5.0%	—	—	—
Q3 25	$4.21	$4.37	+3.8%	—	—	—
Q2 25	$3.47	$3.77	+8.6%	—	—	—
Q1 25	$3.64	$3.89	+6.9%	—	—	—
Q4 24	$3.65	$4.04	+10.7%	—	—	—
Q3 24	$3.66	$4.01	+9.6%	—	—	—
Q2 24	$3.14	$3.13	-0.3%	—	—	—
Q1 24	$3.04	$3.21	+5.6%	—	—	—
Q4 23	$3.13	$3.12	-0.3%	—	—	—
Q3 23	$2.92	$3.15	+7.9%	—	—	—
Q2 23	$2.48	$2.54	+2.4%	—	—	—
Q1 23	$2.8	$2.93	+4.6%	—	—	—
Q4 22	$2.93	$2.81	-4.1%	—	—	—
Q3 22	$2.97	$2.89	-2.7%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$14.7	—	—	$15.3B	—
FY24	—	$12.4	—	—	$14.2B	—
FY23	—	$8.25	—	—	$12.5B	—
FY22	—	$10.3	—	—	$11.2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$5.7B	$6.1B	$6.3B	$6.7B	$7.4B	$8.3B	$11.2B	$12.5B	$14.2B	$15.3B
YoY change	+6.55%	+7.1%	+3.22%	+7.05%	+11.1%	+11.5%	+34.8%	+11.8%	+13.7%	+7.94%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	5.7B	6.1B	6.3B	6.7B	7.4B	8.3B	11.2B	12.5B	14.2B	15.3B
Cost of revenue	1.8B	1.7B	1.8B	2B	2.1B	2.2B	3.8B	4.1B	4.4B	4.6B
Gross profit	3.9B	4.4B	4.4B	4.7B	5.3B	6.1B	7.4B	8.4B	9.8B	10.8B
Gross margin	68.7%	72.1%	70.6%	70.5%	71.9%	73.7%	66.4%	66.9%	69.1%	70.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.5B	1.6B	1.4B	1.3B	1.5B	1.7B	3.4B	3.2B	3.2B	3.4B
Operating expenses	1.5B	1.6B	1.4B	1.3B	1.5B	1.7B	3.4B	3.2B	3.2B	3.4B
Operating income	2.2B	2.6B	2.8B	3.2B	3.6B	4.2B	3B	4.1B	5.5B	6.2B
Operating margin	39.6%	42.6%	44.6%	47.4%	48.4%	50.7%	27%	32.4%	38.6%	40.3%
Non-operating income, net	1.1B	27M	25M	-106M	-232M	73M	2B	-49M	127M	337M
Pretax income	3.2B	2.5B	2.7B	2.9B	3.2B	4.2B	4.7B	3.7B	5.3B	6.2B
Income tax	960M	823M	560M	627M	694M	901M	1.2B	778M	1.1B	1.4B
Net income	2.2B	1.6B	2.1B	2.3B	2.5B	3.3B	3.5B	2.9B	4.2B	4.8B
Net margin	39.4%	27%	33.9%	34.4%	34%	39.3%	31.5%	23.1%	29.3%	31.4%
EBITDA	2.4B	2.8B	3B	3.3B	3.8B	4.4B	4.1B	5.2B	6.7B	7.4B
EPS	8.02	5.84	7.8	8.65	9.71	12.6	10.3	8.25	12.4	14.7
Diluted EPS	7.94	5.78	7.73	8.6	9.66	12.5	10.2	8.23	12.3	14.7

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.1B	3.2B	3.5B	3.5B	3.6B	3.6B	3.8B	3.8B	3.9B	3.9B	4.2B	4.1B
Cost of revenue	995M	1B	1.1B	1.1B	1.1B	1.1B	1.2B	1.1B	1.1B	1.2B	1.2B	1.2B
Gross profit	2.1B	2.1B	2.4B	2.5B	2.5B	2.5B	2.6B	2.6B	2.8B	2.7B	2.9B	3B
Gross margin	67.7%	67.3%	67.9%	69.4%	70%	69%	69.5%	70.2%	71.2%	70.1%	70.4%	71.9%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	741M	942M	705M	734M	808M	919M	764M	803M	805M	1B	802M	873M
Operating expenses	741M	942M	705M	734M	808M	919M	764M	803M	805M	1B	802M	873M
Operating income	1.1B	888M	1.4B	1.4B	1.4B	1.3B	1.6B	1.5B	1.7B	1.4B	1.8B	1.8B
Operating margin	34.6%	28.2%	39.5%	40.5%	39.2%	35.1%	41.5%	40.9%	42.9%	35.9%	43.8%	43.4%
Non-operating income, net	13M	-18M	15M	16M	30M	65M	7M	42M	9M	281M	177M	15M
Pretax income	995M	794M	1.3B	1.4B	1.4B	1.3B	1.5B	1.5B	1.6B	1.6B	1.9B	1.7B
Income tax	181M	150M	248M	293M	313M	287M	325M	342M	333M	407M	404M	406M
Net income	814M	644M	1.1B	1.1B	1B	967M	1.2B	1.2B	1.3B	1.2B	1.5B	1.3B
Net margin	26.4%	20.4%	30.6%	30.6%	29.3%	26.9%	31%	30.9%	32.5%	31.3%	36.1%	31.9%
EBITDA	1.4B	1.2B	1.7B	1.8B	1.7B	1.6B	1.9B	1.8B	2B	1.7B	2.1B	2.1B
EPS	2.34	1.84	3.16	3.23	3.12	2.85	3.55	3.5	3.86	3.76	4.69	4.12
Diluted EPS	2.33	1.83	3.16	3.23	3.11	2.85	3.54	3.5	3.86	3.75	4.69	4.12

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	26.7B	41.1B	40.3B	63.4B	75B	107.5B	—	132.7B	146.8B	150.7B	116.7B
Enterprise value	27.9B	41.9B	42.1B	65.2B	75.6B	105.7B	—	143.4B	157.1B	162.5B	135.6B
Shares outstanding	262.8M	256.3M	250.9M	245.4M	241M	240.8M	316.9M	318.4M	311.6M	304.8M	304.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	12	25.1	19	27.5	29.6	32.9	—	45.9	35.2	31.3	24.6
P/S	4.72	6.77	6.45	9.46	10.1	13	—	10.6	10.3	9.83	7.37
P/B	15	19.4	17.5	22.6	22.4	19.4	—	3.48	3.91	4.17	3.77
EV/EBITDA	11.4	15	13.9	19.7	19.7	23.8	—	27.4	23.4	21.9	16.7
EV/Sales	4.93	6.9	6.72	9.73	10.2	12.7	—	11.5	11.1	10.6	8.41
Earnings yield	8.33%	3.99%	5.26%	3.63%	3.38%	3.03%	—	2.18%	2.84%	3.2%	4.07%
FCF yield	5.4%	4.61%	4.84%	4.2%	4.66%	3.31%	—	2.69%	3.79%	3.62%	4.67%
PEG	—	—	—	—	—	—	—	—	—	—	1.39

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	68.7%	72.1%	70.6%	70.5%	71.9%	73.7%	66.4%	66.9%	69.1%	70.2%	71.9%
Operating margin	39.6%	42.6%	44.6%	47.4%	48.4%	50.7%	27%	32.4%	38.6%	40.3%	44.8%
Net margin	39.4%	27%	33.9%	34.4%	34%	39.3%	31.5%	23.1%	29.3%	31.4%	30.5%
ROE	125.1%	77.3%	92.1%	82.1%	75.6%	58.9%	8.86%	7.59%	11.1%	13.3%	14.3%
ROA	25.7%	17.4%	22.5%	20.3%	20.2%	23%	5.7%	4.77%	6.92%	7.88%	7.03%
ROIC	53.2%	59.3%	54.8%	54.4%	70.9%	88.4%	4.52%	6.55%	9.01%	9.97%	10.8%
Return on tangible assets	-924.5%	244.1%	-313.3%	170.6%	107.2%	51.9%	-8.02%	-6.59%	-9.75%	-10.9%	-12.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.41	1.35	1.36	1.52	1.67	2.31	0.94	0.84	0.85	0.82	0.95
Quick ratio	1.41	1.35	1.36	1.52	1.67	2.31	0.94	0.84	0.85	0.82	0.95
Debt / equity	2	1.69	1.59	1.67	1.42	0.85	0.29	0.31	0.32	0.38	0.43
Debt / assets	0.41	0.38	0.39	0.41	0.38	0.33	0.19	0.2	0.2	0.22	0.25
Net debt / EBITDA	0.48	0.28	0.57	0.54	0.17	-0.41	2.51	2.04	1.53	1.59	1.45
Interest coverage	18.6	17.5	21	21.8	23.9	36	16.5	12	18.9	22.7	22.7
Effective tax rate	30.1%	33.4%	20.9%	21.4%	21.5%	21.6%	25.1%	21.2%	21.5%	22.6%	22.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	21.5	23.7	24.9	27.3	30.9	34.5	35.3	39.2	45.6	50.3	53.8
EPS (basic)	8.02	5.84	7.8	8.65	9.71	12.6	10.3	8.25	12.4	14.7	14.7
EPS (diluted)	7.94	5.78	7.73	8.6	9.66	12.5	10.2	8.23	12.3	14.7	16.4
Book value per share	6.78	8.26	9.18	11.4	13.9	23	125.4	119.7	120.4	118.6	106.9
FCF per share	5.5	7.39	7.78	10.8	14.5	14.8	7.93	11.2	17.9	17.9	18.9
Cash per share	9.13	10.9	7.71	11.8	17.1	27	4.1	4.13	5.41	5.91	14
Capex per share	5.7	0.01	0.02	0.35	—	—	—	—	—	0.64	0.53

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	26.5%	0.03%	0.1%	1.27%	—	—	—	—	—	1.27%	0.97%
Capex / operating cash flow	57.1%	0.1%	0.28%	3.06%	—	—	—	—	—	3.45%	2.72%
Payout ratio	17.1%	25.7%	23.7%	24.3%	25.5%	22.8%	29.1%	39.6%	27.2%	24.3%	23.5%
Dividend yield	1.42%	1.02%	1.25%	0.88%	0.86%	0.69%	—	0.86%	0.77%	0.78%	0.98%

Yield

0.98%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.97

ex-dividend Aug 26, 2026

Payout ratio

23%

of earnings

Dividend growth

9 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 26, 2026	$0.97
May 29, 2026	$0.97
Feb 25, 2026	$0.97

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.1B	$3.2B	$3.5B	$3.5B	$3.6B	$3.6B	$3.8B	$3.8B	$3.9B	$3.9B	$4.2B	$4.1B
YoY change	+7.79%	+7.32%	+10.5%	+14.4%	+15.9%	+14%	+8.19%	+5.8%	+8.76%	+9.02%	+10.4%	+10.4%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	2.4B	2.8B	1.9B	2.9B	4.1B	6.5B	1.3B	1.3B	1.7B	1.8B
Receivables	1.1B	1.3B	1.4B	1.6B	1.6B	1.6B	2.5B	2.8B	2.9B	3.4B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	3.7B	4.3B	3.6B	4.7B	6B	8.8B	5.7B	5.1B	5.5B	6.3B
Property, plant & equipment	271M	275M	270M	996M	778M	667M	720M	637M	678M	691M
Goodwill & intangibles	8.9B	8.8B	10.1B	10B	10.2B	7.9B	105.7B	104.5B	102.9B	105.5B
Total assets	8.7B	9.4B	9.4B	11.3B	12.5B	14.2B	61.8B	60.6B	60.2B	61.2B
Accounts payable	183M	195M	211M	190M	233M	205M	450M	557M	553M	610M
Short-term debt	—	399M	—	112M	100M	96M	226M	47M	4M	718M
Total current liabilities	2.6B	3.2B	2.6B	3.1B	3.6B	3.8B	6B	6.1B	6.4B	7.6B
Long-term debt	3.6B	3.2B	3.7B	4.6B	4.7B	4.6B	11.3B	12B	11.9B	12.9B
Total liabilities	6.9B	7.3B	7.1B	8.5B	9.2B	9.5B	22B	22.5B	22.7B	25B
Shareholders' equity	1.8B	2.1B	2.3B	2.8B	3.4B	5.5B	39.7B	38.1B	37.5B	36.2B
Total debt	3.6B	3.6B	3.7B	4.7B	4.8B	4.7B	11.5B	12B	11.9B	13.6B
Net debt	1.2B	792M	1.7B	1.8B	646M	-1.8B	10.2B	10.7B	10.3B	11.8B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.6B	1.3B	1.5B	2B	1.7B	1.7B	1.5B	1.8B	1.7B	1.8B	1.8B	4.1B
Receivables	2.5B	2.8B	3B	2.7B	2.6B	2.9B	3.1B	3B	2.9B	3.4B	3.5B	3.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	4.8B	5.1B	5.4B	5.6B	5.2B	5.5B	5.3B	5.9B	5.7B	6.3B	6.3B	8.7B
Property, plant & equipment	646M	637M	618M	620M	642M	678M	678M	680M	654M	691M	649M	646M
Goodwill & intangibles	104.8B	104.5B	103.7B	104.1B	103.7B	102.9B	102.5B	102.3B	101.5B	105.5B	104.7B	104.1B
Total assets	60.6B	60.6B	60.5B	61B	60.4B	60.2B	59.9B	60.4B	59.7B	61.2B	60.8B	62.9B
Accounts payable	458M	557M	458M	477M	475M	553M	525M	532M	418M	610M	510M	611M
Short-term debt	47M	47M	301M	4M	4M	4M	3M	3M	3M	718M	2.7B	2.6B
Total current liabilities	5.2B	6.1B	5.9B	5.5B	5.5B	6.4B	5.9B	6B	5.8B	7.6B	9.3B	9.1B
Long-term debt	12B	12B	11.9B	11.9B	11.9B	11.9B	11.9B	11.9B	11.9B	12.9B	11.1B	13.1B
Total liabilities	21.5B	22.5B	22.2B	22B	22B	22.7B	22.2B	22.4B	22.1B	25B	24.6B	26.3B
Shareholders' equity	39B	38.1B	38.2B	39B	38.4B	37.5B	37.7B	38B	37.7B	36.2B	36.2B	36.6B
Total debt	12B	12B	12.2B	11.9B	11.9B	11.9B	11.9B	11.9B	11.9B	13.6B	13.8B	15.6B
Net debt	10.4B	10.7B	10.7B	9.9B	10.2B	10.3B	10.4B	10.1B	10.2B	11.8B	12B	11.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	2.2B	1.6B	2.1B	2.3B	2.5B	3.3B	3.5B	2.9B	4.2B	4.8B
Depreciation & amortization	181M	180M	206M	204M	206M	178M	1B	1.1B	1.2B	1.2B
Stock-based compensation	76M	99M	94M	78M	90M	122M	214M	171M	247M	236M
Change in working capital	-25M	-106M	-396M	120M	334M	52M	20M	-303M	122M	-564M
Operating cash flow	2.6B	2B	2.2B	2.8B	3.3B	3.7B	4.7B	3.8B	5.6B	5.7B
Capital expenditure	1.5B	2M	6M	85M	—	—	—	—	—	-195M
Investing cash flow	2.8B	-77M	-383M	164M	-165M	-83M	3.7B	718M	-137M	-669M
Dividends paid	-380M	-421M	-503M	-560M	-645M	-743M	-1B	-1.1B	-1.1B	-1.2B
Share repurchases	-1.1B	-1B	-1.7B	-1.2B	-1.2B	0	-12B	-3.3B	-3.3B	-5B
Financing cash flow	-1.9B	-1.6B	-2.3B	-1.8B	-2.2B	-1B	-11.4B	-4.5B	-5B	-4.9B
Net change in cash	3.5B	303M	-546M	1.1B	907M	2.6B	-2.9B	6M	457M	52M
Free cash flow	1.4B	1.9B	2B	2.7B	3.5B	3.6B	2.5B	3.6B	5.6B	5.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	814M	644M	1.1B	1.1B	1B	967M	1.2B	1.2B	1.3B	1.2B	1.5B	1.3B
Depreciation & amortization	282M	290M	287M	292M	294M	300M	293M	295M	294M	297M	307M	308M
Stock-based compensation	46M	28M	33M	49M	95M	70M	47M	45M	75M	69M	39M	56M
Change in working capital	-172M	189M	-724M	225M	169M	452M	-801M	80M	-121M	278M	-924M	105M
Operating cash flow	1B	1.3B	678M	1.6B	1.4B	2B	708M	1.7B	1.5B	1.7B	1B	1.4B
Capital expenditure	—	—	—	—	—	—	—	—	-45M	-46M	-27M	-38M
Investing cash flow	-5M	7M	-1M	-264M	95M	33M	-13M	3M	-66M	-489M	306M	-36M
Dividends paid	-286M	-283M	-286M	-286M	-282M	-280M	-295M	-294M	-291M	-290M	-288M	-287M
Share repurchases	-500M	-1.3B	-500M	0	-1.5B	-1.3B	-650M	-651M	-1.2B	-2.5B	-1B	-500M
Financing cash flow	-1B	-1.7B	-658M	-752M	-1.9B	-1.7B	-1.1B	-1.1B	-1.6B	-2.9B	-1.2B	-1B
Net change in cash	-10M	-377M	19M	565M	-405M	273M	-408M	638M	-127M	-1.7B	106M	362M
Free cash flow	977M	1.3B	924M	1.5B	1.4B	1.7B	910M	1.4B	1.5B	1.7B	1B	1.4B

Date	Ratio
Jul 1, 2026	1057:1000
May 18, 2005	2:1
Mar 9, 1999	2:1
Apr 29, 1996	2:1
Jun 2, 1983	2:1

S&P Global Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history