Provider of credit ratings, benchmarks, analytics, and data to capital and commodity markets worldwide.
Profile & Fundamentals
S&P Global: Company identity, ownership, reported financial performance, balance sheets, and corporate actions.
Profile & Fundamentals
S&P Global Profile & Fundamentals
Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.
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Company and Market Context
Company Profile & Ownership
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 four segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, 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 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.
Company profile record
S&P Global Inc
Common Stock · Financials · Financial Exchanges & Data
Company
- Company / asset
- S&P Global Inc
- Security type
- Common Stock
- Sector
- Financials
- Industry
- Financial Exchanges & Data
- HQ
- 🇺🇸 United States
- Head office
- 55 Water Street, New York, NY, United States, 10041
Leadership & scale
- Chief executive
- Ms. Martina L. Cheung
- CEO year born
- 1976
- Full-time employees
- 44.5K
- Fiscal year end
- December
- IPO date
- 2001-01-02
Fundamentals snapshot
- Market Cap
- USD 117.1B
- P/E
- 23.8x
- Revenue (Q2 26)
- USD 4.1B
- Profit (Q2 26)
- USD 1.2B
- Dividend Yield
- 0.7%
- Revenue (FY 25)
- USD 15.3B
- Shares in public float
- 294.1M
- Insider ownership
- 0.11%
Reporting & identifiers
- Symbol
- SPGI.NYSE
- Listing
- 🇺🇸 United States | Dividend Tax: 30%
- Ticker Currency
- USD
- Income Statement Currency
- USD
- Balance Sheet Currency
- USD
- Cash Flow Currency
- USD
- EPS Currency
- USD
- Contract Type
- SPOT
- ISIN
- US78409V1044
- Asset ID
- equity_e3473b64-4b40-506c-a5e7-445ee72d4337
Ownership
Shares Outstanding
Latest: 295.5M | Max: 325.2M | Min: 241.7M
Latest reported ownership snapshot
As of Oct 1, 2026Float Shares
99.52%
294.1M latest reported shares
Insider Ownership
0.11%
Latest reported insider stake
Short Float
0.02%
Latest reported short interest / float
Top Holders
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 257,000,000 |
| 2018-01-01 | 251,500,000 |
| 2019-01-01 | 245,600,000 |
| 2020-01-01 | 241,700,000 |
| 2021-01-01 | 242,100,000 |
| 2022-01-01 | 325,200,000 |
| 2023-01-01 | 315,900,000 |
| 2024-01-01 | 311,900,000 |
| 2025-01-01 | 302,100,000 |
| 2026-01-01 | 295,500,000 |
Top Holders
Available reported ownership records.
Scroll the table to see every column.
| Holder | Shares | Ownership | Reported date |
|---|---|---|---|
| BlackRock ICS USD Ultr Shrt Bd Core Acc | 47,730,000 | 16.19% | 2026-07-31 |
| BlackRock Inc | 24,071,452 | 8.17% | 2026-03-31 |
| Vanguard Capital Management, LLC | 19,383,810 | 6.58% | 2026-03-31 |
| State Street Corp | 14,175,534 | 4.81% | 2026-03-31 |
| TCI Fund Management Limited | 14,035,310 | 4.76% | 2026-03-31 |
| Vanguard MStar Total Stk Mkt Idx Invest | 9,154,053 | 3.11% | 2026-08-31 |
| Vanguard 500 Index Investor | 8,054,441 | 2.73% | 2026-08-31 |
| Morgan Stanley - Brokerage Accounts | 7,908,180 | 2.68% | 2026-03-31 |
| Geode Capital Management, LLC | 6,917,960 | 2.35% | 2026-03-31 |
| Vanguard Portfolio Management, LLC | 6,760,342 | 2.29% | 2026-03-31 |
| Wellington Management Company LLP | 5,327,461 | 1.81% | 2026-06-30 |
| Bank of America Corp | 4,447,574 | 1.51% | 2026-03-31 |
| Eagle Capital Management LLC | 4,067,628 | 1.38% | 2026-06-30 |
| iShares Core S&P 500 ETF | 4,037,415 | 1.37% | 2026-08-31 |
| Fidelity 500 Index | 3,920,693 | 1.33% | 2026-07-31 |
Earnings, Profitability & Valuation
Earnings, Profitability & Valuation
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The company's core financial engine demonstrates exceptional durability, successfully converting top-line market expansion into reliable cash generation. While reported quarterly results reflected the planned separation of the automotive data unit, continuing operations delivered robust double-digit earnings growth driven by surging credit rating activity and resilient benchmark fees. Beneath headline figures, recurring subscriptions across commodity pricing and market intelligence represent the majority of revenue, buffering cash flow against periodic capital market downturns. The business reliably converts net earnings into over five billion dollars in annual free cash flow, providing an impenetrable financial foundation.
The company's core financial engine demonstrates exceptional durability, successfully converting top-line market expansion into reliable cash generation. While reported quarterly results reflected the planned separation of the automotive data unit, continuing operations delivered robust double-digit earnings growth driven by surging credit rating activity and resilient benchmark fees. Beneath headline figures, recurring subscriptions across commodity pricing and market intelligence represent the majority of revenue, buffering cash flow against periodic capital market downturns. The business reliably converts net earnings into over five billion dollars in annual free cash flow, providing an impenetrable financial foundation.
Revenue, Net Income, and Free Cash Flow
Latest: USD 15.3B | Max: USD 15.3B | Min: USD 1.3B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 35x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profitability margins remain elite, with gross margins holding near seventy percent and consolidated operating margins expanding toward forty-six percent. This exceptional profitability stems from pure operating leverage: once a financial index or credit benchmark is established, licensing it to additional clients incurs virtually zero incremental expense. Structural pricing power permits regular contractual price adjustments that outpace inflationary overhead, while the divestiture of lower-margin operations permanently enhances the portfolio mix. As corporate debt issuance normalizes, high-margin transaction revenues drop straight to the bottom line, defending top-tier profitability over multi-year cycles.
Profitability margins remain elite, with gross margins holding near seventy percent and consolidated operating margins expanding toward forty-six percent. This exceptional profitability stems from pure operating leverage: once a financial index or credit benchmark is established, licensing it to additional clients incurs virtually zero incremental expense. Structural pricing power permits regular contractual price adjustments that outpace inflationary overhead, while the divestiture of lower-margin operations permanently enhances the portfolio mix. As corporate debt issuance normalizes, high-margin transaction revenues drop straight to the bottom line, defending top-tier profitability over multi-year cycles.
Profitability Margins
Latest: 70.2% | Max: 100.0% | Min: 21.0%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
70.2%
Gross profit / revenue
Operating Margin
42.2%
Operating income / revenue
Net Margin
29.2%
Net income / revenue
FCF Margin
35.6%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 5,661,000,000 | 2,106,000,000 | 1,349,000,000 |
| 2017-12-31 | 6,063,000,000 | 1,496,000,000 | 1,893,000,000 |
| 2018-12-31 | 6,258,000,000 | 1,958,000,000 | 1,951,000,000 |
| 2019-12-31 | 6,699,000,000 | 2,123,000,000 | 2,661,000,000 |
| 2020-12-31 | 7,442,000,000 | 2,339,000,000 | 3,491,000,000 |
| 2021-12-31 | 8,297,000,000 | 3,024,000,000 | 3,563,000,000 |
| 2022-12-31 | 11,181,000,000 | 3,248,000,000 | 2,514,000,000 |
| 2023-12-31 | 12,497,000,000 | 2,626,000,000 | 3,567,000,000 |
| 2024-12-31 | 14,208,000,000 | 3,852,000,000 | 5,565,000,000 |
| 2025-12-31 | 15,336,000,000 | 4,471,000,000 | 5,456,000,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
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| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 35.3 | Trailing four quarters |
| 2024-12-31 | 40.32 | Trailing four quarters |
| 2023-12-31 | 52.97 | Trailing four quarters |
| 2022-12-31 | 33.54 | Annual net income |
| 2021-12-31 | 37.78 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 68.68 | 59.02 | 37.2 | 23.83 |
| 2017-12-31 | 72.06 | 42.6 | 24.67 | 31.22 |
| 2018-12-31 | 70.63 | 44.58 | 31.29 | 31.18 |
| 2019-12-31 | 70.5 | 48.16 | 31.69 | 39.72 |
| 2020-12-31 | 71.86 | 48.6 | 31.43 | 46.91 |
| 2021-12-31 | 73.73 | 50.87 | 36.45 | 42.94 |
| 2022-12-31 | 66.43 | 44.22 | 29.05 | 22.48 |
| 2023-12-31 | 100 | 32.17 | 21.01 | 28.54 |
| 2024-12-31 | 69.09 | 39.27 | 27.11 | 39.17 |
| 2025-12-31 | 70.25 | 42.24 | 29.15 | 35.58 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Source: eodhd. Snapshot retrieved 2026-09-29.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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