Financials · SPGI

S&P Global Inc. (SPGI) financials

For the twelve months ended Sep 30, 2026, S&P Global Inc. reported $17.21B of revenue and $4.99B of net income.

Revenue, TTM
$17.21B
Revenue growth, YoY
+18.2%
Net income, TTM
$4.99B
Net income growth, YoY
+18.2%
Net margin
29.0%
Free cash flow, TTM
$5.84B
EPS, diluted, TTM
$16.82
EPS growth, YoY
+22.3%
Cash
$2.44B
Total debt
$13.06B
P/E
27.20
P/S
7.88
Market cap
$135.62B
Annual revenue$15.34B
FY2016FY2025
Annual net income$4.47B
FY2016FY2025
Annual free cash flow$5.46B
FY2016FY2025

SPGI revenue and earnings growth

SPGI revenueQ3 2026$3.68B

Quarter YoY
+6.8%
QoQ
-11.3%
FY YoY
+7.9%
5Y CAGR
+15.6%
10Y CAGR
+11.2%

SPGI revenue was $3.68B in fiscal Q3 2026 (ended Sep 30, 2026), up 6.8% from a year earlier and down 11.3% from the prior quarter. For the full fiscal 2025 it was $15.34B, up 7.9% from fiscal 2024. Compound annual growth was +15.6% over 5 years and +11.2% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

SPGI net incomeQ3 2026$1.24B

Quarter YoY
+5.4%
QoQ
+1.9%
FY YoY
+16.1%
5Y CAGR
+13.8%
10Y CAGR
+14.5%

SPGI net income was $1.24B in fiscal Q3 2026 (ended Sep 30, 2026), up 5.4% from a year earlier and up 1.9% from the prior quarter. For the full fiscal 2025 it was $4.47B, up 16.1% from fiscal 2024. Compound annual growth was +13.8% over 5 years and +14.5% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

SPGI EPSQ3 2026$4.25

Quarter YoY
+10.1%
QoQ
+3.2%
FY YoY
+18.7%
5Y CAGR
+8.7%
10Y CAGR
+13.3%

SPGI diluted EPS was $4.25 in fiscal Q3 2026 (ended Sep 30, 2026), up 10.1% from a year earlier and up 3.2% from the prior quarter. For the full fiscal 2025 it was $14.66, up 18.7% from fiscal 2024. Compound annual growth was +8.7% over 5 years and +13.3% over 10 years.

SPGI free cash flowQ3 2026$1.16B

Quarter YoY
+30.0%
QoQ
-17.4%
FY YoY
-2.0%
5Y CAGR
+9.3%
10Y CAGR
+38.1%

SPGI free cash flow was $1.16B in fiscal Q3 2026 (ended Sep 30, 2026), up 30.0% from a year earlier and down 17.4% from the prior quarter. For the full fiscal 2025 it was $5.46B, down 2.0% from fiscal 2024. Compound annual growth was +9.3% over 5 years and +38.1% over 10 years. It rose in 8 of the last 10 fiscal years.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$15.34B$14.21B$12.50B$11.18B$8.30B$7.44B$6.70B$6.26B$6.06B$5.66B
Cost of revenue$4.56B$4.36B$4.14B$3.75B$2.18B$2.09B$1.98B$1.84B$1.69B$1.77B
Gross profit$10.77B$9.85B$8.36B$7.43B$6.12B$5.35B$4.72B$4.42B$4.37B$3.89B
Selling, general and admin$3.42B$3.20B$3.16B$3.40B$1.73B$1.54B$1.34B$1.42B$1.61B$1.47B
Operating income$6.48B$5.58B$4.02B$4.94B$4.22B$3.62B$3.23B$2.79B$2.58B$3.34B
Interest expense$287.00M$297.00M$334.00M$304.00M$119.00M$141.00M$141.00M$134.00M$149.00M$181.00M
Pre-tax income$6.23B$5.31B$3.67B$4.70B$4.16B$3.23B$2.93B$2.68B$2.46B$3.19B
Income tax$1.41B$1.14B$778.00M$1.18B$901.00M$694.00M$627.00M$560.00M$823.00M$960.00M
Net income$4.47B$3.85B$2.63B$3.25B$3.02B$2.34B$2.12B$1.96B$1.50B$2.11B
EPS, basic$14.67$12.36$8.25$10.25$12.56$9.71$8.65$7.80$5.84$8.02
EPS, diluted$14.66$12.35$8.23$10.20$12.51$9.66$8.60$7.73$5.78$7.94
Diluted shares305.1M311.9M318.9M318.5M241.8M242.1M246.9M253.2M258.9M265.2M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$1.71B$1.64B$1.29B$1.29B$6.50B$4.12B$2.89B$1.96B$2.78B$2.39B
Short-term investments$56.00M$20.00M$26.00M$14.00M$11.00M$9.00M$28.00M$18.00M$12.00M$8.00M
Receivables$3.24B$2.87B$2.83B$2.49B$1.65B$1.59B$1.58B$1.45B$1.32B$1.12B
Current assets$6.30B$5.46B$5.14B$5.67B$8.81B$5.99B$4.71B$3.59B$4.32B$3.67B
Goodwill$27.62B$34.92B$34.85B$34.55B$3.51B$3.73B$3.58B$3.54B$2.99B$2.95B
Total assets$61.20B$60.22B$60.59B$61.78B$15.03B$12.54B$11.35B$9.44B$9.43B$8.67B
Current liabilities$7.64B$6.39B$6.13B$6.00B$3.81B$3.59B$3.09B$2.63B$3.21B$2.61B
Short-term debt$718.00M$4.00M$47.00M$226.00M$0--$0$399.00M$0
Long-term debt$12.37B$11.39B$11.41B$10.73B$4.11B$4.11B$3.95B$3.66B$3.17B$3.56B
Total debt$13.09B$11.40B$11.46B$10.96B$4.11B$4.11B$3.95B$3.66B$3.57B$3.56B
Total liabilities$25.05B$22.71B$22.49B$22.04B$9.49B$9.19B$8.54B$7.14B$7.31B$6.89B
Shareholders' equity$31.13B$33.26B$34.30B$36.48B$2.11B$571.00M$536.00M$684.00M$766.00M$701.00M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$5.65B$5.69B$3.71B$2.60B$3.60B$3.57B$2.78B$2.06B$2.02B$1.56B
Capital expenditures$195.00M$124.00M$143.00M$89.00M$35.00M$76.00M$115.00M$113.00M$123.00M$115.00M
Free cash flow$5.46B$5.57B$3.57B$2.51B$3.56B$3.49B$2.66B$1.95B$1.89B$1.45B
Investing cash flow-$704.00M-$255.00M$562.00M$3.63B-$120.00M-$240.00M-$131.00M-$513.00M-$209.00M$1.17B
Financing cash flow-$4.93B-$5.00B-$4.28B-$11.33B-$1.01B-$2.17B-$1.75B-$2.29B-$1.51B-$1.66B
Dividends paid$1.17B$1.13B$1.15B$1.02B$743.00M$645.00M$560.00M$503.00M$421.00M$380.00M
Share repurchases$5.00B$3.30B$3.30B$12.00B$0$1.16B$1.24B$1.66B$1.00B$1.12B
Stock-based compensation$236.00M$247.00M$171.00M$214.00M$122.00M$90.00M$78.00M$94.00M$99.00M$76.00M
Depreciation and amortization$1.18B$1.17B$1.14B$1.01B$178.00M$206.00M$204.00M$206.00M$180.00M$181.00M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY7.9%13.7%11.8%34.8%11.5%11.1%7.0%3.2%7.1%6.5%
Net income growth, YoY16.1%46.7%-19.2%7.4%29.3%10.2%8.4%30.9%-29.0%82.2%
EPS growth, YoY18.7%50.1%-19.3%-18.5%29.5%12.3%11.3%33.7%-27.2%88.6%
Gross margin70.2%69.3%66.9%66.4%73.7%71.9%70.5%70.6%72.1%68.7%
Operating margin42.2%39.3%32.2%44.2%50.9%48.6%48.2%44.6%42.6%59.0%
Net margin29.2%27.1%21.0%29.0%36.4%31.4%31.7%31.3%24.7%37.2%
Free cash flow margin35.6%39.2%28.5%22.5%42.9%46.9%39.7%31.2%31.2%25.5%
Return on equity14.4%11.6%7.7%8.9%143.5%409.6%396.1%286.3%195.3%300.4%
Return on assets7.3%6.4%4.3%5.3%20.1%18.7%18.7%20.7%15.9%24.3%
Current ratio0.820.850.840.942.311.671.521.361.351.41
Debt to equity0.420.340.330.301.957.207.375.354.665.08

Source: XBRL data S&P Global Inc. files with the SEC, latest filing dated Oct 28, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

SPGI peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
SPGI$17.21B+18.2%$4.99B29.0%$135.62B
AXP$77.59B+10.2%$12.26B15.8%$215.24B
MCO$8.18B+9.0%$2.88B35.3%$87.18B
NU$15.77B+37.0%$2.87B18.2%$58.39B
RKT$11.46B+90.4%$1.30B11.4%$42.74B
COIN$5.63B-26.6%-$701.62M-12.5%$35.68B
AFRM$4.59B+32.7%$2.01B43.9%$23.08B
SYF$19.31B+2.6%$3.33B17.3%$22.96B
EFX$6.59B+10.9%$742.90M11.3%$22.19B

SPGI FAQ

9 questions
  • What is SPGI revenue?
    S&P Global Inc. (SPGI) reported $17.21B of revenue for the twelve months ended Sep 30, 2026. That is up 18.2% from the year before. Revenue for fiscal 2025 was $15.34B.
  • Is SPGI profitable?
    Yes. S&P Global Inc. earned $4.99B in net income for the twelve months ended Sep 30, 2026, a net margin of 29.0%.
  • How much cash and debt does SPGI have?
    S&P Global Inc. reported $2.44B in cash and cash equivalents and $13.06B of debt on its most recent balance sheet in SEC filings.
  • How fast is SPGI revenue growing?
    S&P Global Inc.'s revenue changed +7.9% in fiscal 2025, to $15.34B. Its compound annual growth rate was +15.6% over 5 years and +11.2% over 10 years.
  • What is SPGI gross margin?
    S&P Global Inc.'s gross profit was $12.21B on $17.21B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 70.9%.
  • What is SPGI free cash flow?
    S&P Global Inc. generated $5.84B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $6.00B less capital expenditures.
  • What is SPGI earnings per share?
    Diluted earnings per share were $16.82 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did SPGI last report financial results?
    The latest statements here come from S&P Global Inc.'s 10-Q filed on Oct 28, 2026, covering the period ended Sep 30, 2026.
  • Where does this SPGI financial data come from?
    Quantisnow builds these statements from the structured XBRL data S&P Global Inc. files with the SEC. It is provided for information only and is not investment advice.