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S&P Global Inc. (SPGI)

As-reported financials and recent SEC filings for S&P Global Inc., latest fiscal period FY2025. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About S&P Global Inc.

S&P Global Inc. provides benchmarks, data, analytics, and workflow solutions across capital, energy and commodity, and automotive markets. Its main businesses include Market Intelligence, which offers financial data and analytics; Ratings, which provides credit ratings and research; Energy, delivering price data and insights for energy and commodities; Mobility, serving the automotive value chain with data and analytics; and Indices, offering valuation and index benchmarks for investors. The company serves a wide range of clients including financial institutions, corporations, governments, automotive manufacturers, and investors worldwide.

Snapshot

Revenue
$15.34B
Revenue growth (YoY)
7.9%
Net income
$4.47B
Diluted EPS
$14.66
Gross margin
70.2%
Operating margin
42.2%
Net margin
29.2%
FCF margin
35.6%
ROE
P/E (TTM)
27.8×
Market cap
$130.19B
Debt / equity

Fundamentals are from SEC filings. P/E and market cap are derived from recent market prices, refreshed on a rolling basis (typically within the past week).

What changed at S&P Global

  • Revenue grew 7.9% to $15.3B in FY2025, slower than the 13.7% the year before.
  • Operating margin is 42.2% in FY2025, -8.6 pp against 50.9% in FY2021.
  • Most recent quarter Q1 FY2026: revenue $4.2B, up 10.4% from Q1 FY2025.
  • Free cash flow was $5.5B in FY2025, 35.6% of revenue.
  • Net income rose 16.1% to $4.5B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where S&P Global’s fundamentals sit among the 424 Financials companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin70.2%
72nd percentile of 51
Operating margin42.2%
90th percentile of 147
Net margin29.2%
81st percentile of 378
FCF margin35.6%
79th percentile of 273
Revenue growth (YoY)+7.9%
43rd percentile of 420
P/E (TTM)27.8×
85th percentile of 316
Short interest2.24d
18th percentile of 419

S&P Global’s operating margin of 42.2% ranks in the 90th percentile of the 147 Financials companies reporting it. S&P Global’s P/E of 27.8 ranks in the 85th percentile of the 316 peers with a meaningful P/E.

3 open-market insider buys totaling $2.6M in the last 90 days. For context, about 16% of companies in the universe saw any open-market insider buying in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 8 of the superinvestors we track (plus 5 quant / multi-strat books), based on each investor’s most recent 13F (latest Q1 2026).

Conviction investors
8
+5 quant / multi-strat
Initiated / added
7
2 new, 5 added
Reduced / exited
6
4 trimmed, 2 exited
Combined position
$1.45B
reported long value
InvestorAs ofPosition valueSharesChange
AQR Capital ManagementquantQ1 2026$528.5M1.2MAdded
Millennium ManagementquantQ1 2026$418.7M984.4KReduced
Citadel AdvisorsquantQ1 2026$157.4M370.1KAdded
D. E. ShawquantQ1 2026$138.7M326.1KAdded
Two Sigma InvestmentsquantQ1 2026$55.3M130.0KAdded
Himalaya Capital ManagementQ1 2026$51.7M121.5KNew
Markel GroupQ1 2026$50.1M117.7KReduced
Bridgewater AssociatesQ1 2026$13.9M32.7KReduced
Wedgewood PartnersQ1 2026$13.8M32.4KReduced
Gotham Asset ManagementQ1 2026$13.4M31.4KAdded
Soros Fund ManagementQ1 2026$7.0M16.5KNew
Dodge & CoxQ1 2026$2.3M5.4KHeld
Ruane Cunniff (Sequoia)Q1 2026$225,856531Held

No longer held by: Coatue Management (as of Q1 2026), Point72 Asset Management (as of Q1 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4. Multiple insiders have bought recently (a cluster buy).

Buys (90d)
3
3 insiders
Bought (90d)
$2.6M
open-market value
Sells (90d)
0
Signal
Cluster buy
≥2 insiders buying
Trade dateInsiderTypeSharesPriceValue
2026-05-01
filed 2026-05-04
Clay Catherine RCEO, S&P Dow Jones IndicesBuy2.5K$431.39$1.1M
2026-04-30
filed 2026-05-04
Moritz Robert Edward Jr.DirectorBuy1.2K$434.03$500K
2026-04-29
filed 2026-05-01
CHEUNG MARTINACEO & PresidentBuy2.3K$429.93$998K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
5.1M
settled 2026-07-15
Change vs prior
+47.3%
vs previous settlement
Days to cover
2.24
at avg daily volume
Avg daily volume
2.3M
FINRA reported
SettlementShares shortChangeDays to cover
2026-07-155.1M+47.3%2.24
2026-06-303.4M-29.7%1.18
2026-06-154.9M+7.5%2.51
2026-05-294.5M+13.3%1.95
2026-05-154.0M+47.5%2.06
2026-04-302.7M-10.2%1.59
2026-04-153.0M-16.5%1.70
2026-03-313.6M-3.8%1.68

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$15.34B$14.21B$12.50B$11.18B$8.30B
Gross profit$10.77B$9.85B$8.36B$7.43B$6.12B
Operating income$6.48B$5.58B$4.02B$4.94B$4.22B
Net income$4.47B$3.85B$2.63B$3.25B$3.02B
Diluted EPS$14.66$12.35$8.23$10.20$12.51

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$5.65B$5.69B$3.71B$2.60B$3.60B
Capital expenditure$195.0M$124.0M$143.0M$89.0M$35.0M
Free cash flow$5.46B$5.57B$3.57B$2.51B$3.56B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full methodology.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q1 FY2026$4.17B10.4%$1.40B$4.69
Q4 FY2025$3.92B9.0%$1.13B$3.75
Q3 FY2025$3.89B8.8%$1.18B$3.86
Q2 FY2025$3.75B5.8%$1.07B$3.50
Q1 FY2025$3.78B8.2%$1.09B$3.54
Q4 FY2024$3.59B14.0%$880.0M$2.85
Q3 FY2024$3.58B15.9%$971.0M$3.11
Q2 FY2024$3.55B14.4%$1.01B$3.23

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorFinancials
SIC industryServices-Consumer Credit Reporting, Collection Agencies
Fiscal year endDecember 31
Latest fiscal periodFY2025
SEC filings since2018
SEC CIK64040

Recent SEC filings

10-K2026-02-11
View on EDGAR →
10-K2025-02-11
View on EDGAR →
10-Q2026-04-28
View on EDGAR →
10-Q2025-10-30
View on EDGAR →
10-Q2025-08-01
View on EDGAR →
10-Q2025-04-29
View on EDGAR →
8-K2026-07-28
View on EDGAR →
8-K2026-07-06
View on EDGAR →

Largest Financials peers

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Data sourced from SEC EDGAR (public domain). Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.