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S&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through five segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, S&P Global Mobility, and S&P Dow Jones Indices. The S&P Global Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions. This segment offers Data, Analytics & Insights, a desktop product suite that provides data, analytics, and third-party research for global finance and corporate professionals; research, reference data, market data, derived analytics, and valuation services; enterprise solutions, such as software and workflow solutions; and credit and risk solutions for selling Ratings' credit ratings and related data and research, analytics, and financial risk solutions. The S&P Global Ratings segment operates as an independent provider of credit ratings, research, and analytics offering investors information and independent benchmarks for their investment and financial decisions as well as access to the capital markets. The S&P Global Energy segment provides information and benchmark prices for the energy and commodity markets. The S&P Global Mobility segment offers solutions for the full automotive value chain, including vehicle manufacturers, automotive suppliers, mobility service providers, retailers, consumers, and finance and insurance companies. The S&P Dow Jones Indices segment operates as an index provider that maintains various valuation and index benchmarks for investment advisors, wealth managers, and institutional investors. It has operations in the United States, European region, Asia, and internationally. S&P Global Inc. was founded in 1860 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $15.3B | $7.7B | $4.5B | $5.5B | 14.4% | 7.9% | 16.1% |
| 2024 | $14.2B | $6.8B | $3.9B | $5.6B | 11.6% | 13.7% | 46.7% |
| 2023 | $12.5B | $5.1B | $2.6B | $3.6B | 7.7% | 11.8% | -19.2% |
| 2022 | $11.2B | $6.0B | $3.2B | $2.5B | 8.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 11,181 | 12,497 | 14,208 | 15,336 |
| Operating Revenue | - | 11,181 | 12,497 | 14,208 | 15,336 |
| Cost Of Revenue | - | 3,753 | 4,141 | 4,361 | 4,563 |
| Gross Profit | - | 7,428 | 8,356 | 9,847 | 10,773 |
| Operating Expense | - | 4,409 | 4,302 | 4,369 | 4,596 |
| Selling General And Administration | - | 3,396 | 3,159 | 3,196 | 3,417 |
| Total Expenses | - | 8,162 | 8,443 | 8,730 | 9,159 |
| Operating Income | - | 3,019 | 4,054 | 5,478 | 6,177 |
| Total Operating Income As Reported | - | 4,944 | 4,020 | 5,580 | 6,478 |
| EBITDA | - | 6,019 | 5,148 | 6,778 | 7,693 |
| Normalized EBITDA | - | 4,070 | 5,233 | 6,718 | 7,406 |
| EBIT | - | 5,006 | 4,005 | 5,605 | 6,514 |
| Interest Expense | - | 304 | 334 | 297 | 287 |
| Net Interest Income | - | -304 | -334 | -297 | -287 |
| Other Non Operating Income Expenses | 45 | 11 | - | 24 | 22 |
| Other Income Expense | - | 1,987 | -49 | 127 | 337 |
| Interest Expense Non Operating | - | 304 | 334 | 297 | 287 |
| Net Non Operating Interest Income Expense | - | -304 | -334 | -297 | -287 |
| Pretax Income | - | 4,702 | 3,671 | 5,308 | 6,227 |
| Tax Provision | - | 1,180 | 778 | 1,141 | 1,407 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 489.20 | -18.02 | 12.90 | 64.85 |
| Net Income Continuous Operations | - | 3,522 | 2,893 | 4,167 | 4,820 |
| Net Income From Continuing And Discontinued Operation | - | 3,248 | 2,626 | 3,852 | 4,471 |
| Net Income From Continuing Operation Net Minority Interest | - | 3,248 | 2,626 | 3,852 | 4,471 |
| Net Income | - | 3,248 | 2,626 | 3,852 | 4,471 |
| Net Income Common Stockholders | - | 3,248 | 2,626 | 3,852 | 4,471 |
| Net Income Including Noncontrolling Interests | - | 3,522 | 2,893 | 4,167 | 4,820 |
| Normalized Income | - | 1,788.20 | 2,692.98 | 3,804.90 | 4,248.85 |
| Diluted NI Availto Com Stockholders | - | 3,248 | 2,626 | 3,852 | 4,471 |
| Basic Average Shares | - | 316.90 | 318.40 | 311.60 | 304.80 |
| Diluted Average Shares | - | 318.50 | 318.90 | 311.90 | 305.10 |
| Reconciled Depreciation | - | 1,013 | 1,143 | 1,173 | 1,179 |
| Reconciled Cost Of Revenue | - | 3,753 | 4,141 | 4,361 | 4,563 |
| Total Unusual Items | - | 1,949 | -85 | 60 | 287 |
| Total Unusual Items Excluding Goodwill | - | 1,949 | -85 | 60 | 287 |
| Minority Interests | - | -274 | -267 | -315 | -349 |
| Special Income Charges | - | 1,890 | -70 | 59 | 273 |
| Gain On Sale Of Business | - | 1,898 | -70 | 59 | 273 |
| Other Special Charges | - | 8 | - | - | - |
| Gain On Sale Of Security | - | 59 | -15 | 1 | 14 |
| Depreciation Amortization Depletion Income Statement | - | 1,013 | 1,143 | 1,173 | 1,179 |
| Depreciation And Amortization In Income Statement | - | 1,013 | 1,143 | 1,173 | 1,179 |
| Earnings From Equity Interest | - | 27 | 36 | 43 | 28 |
| Amortization | - | 905 | 1,042 | 1,077 | 1,069 |
| Amortization Of Intangibles Income Statement | - | 905 | 1,042 | 1,077 | 1,069 |
| Depreciation Income Statement | - | 108 | 101 | 96 | 110 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| S&P Global Inc.this co. | SPGI | $124.4B | 27.81↑ premium | 4.00 | 14.4% | 17.70 |
| The Charles Schwab Corporation | SCHW | $153.0B | 17.29 | 3.59 | 20.7% | - |
| Interactive Brokers Group, Inc. | IBKR | $147.7B | 150.07 | 27.54 | 18.3% | 15.71 |
| Blackstone Inc. | BX | $144.9B | 47.99 | 16.72 | 34.8% | - |
| Chubb Limited | CB | $122.0B | 11.83 |
| - |
| - |
| - |
| - |
| - |
| 1.65 |
| 14.0% |
| - |
| The Progressive Corporation | PGR | $114.0B | 10.08 | 3.76 | 37.3% | - |
| Capital One Financial Corporation | COF | $114.0B | 52.27 | 1.00 | 1.9% | - |
| The Bank of New York Mellon Corporation | BK | $94.1B | 16.97 | 2.38 | 14.1% | - |
| CME Group Inc. | CME | $92.5B | 22.72 | 3.22 | 14.2% | 15.69 |
| Peer Median | - | 20.00 | 3.40 | 16.3% | 15.70 | |