S&P Global Inc.
SPGI· NYSE· Services-Consumer Credit Reporting, Collection Agencies
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 35.6%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +15.6%
We record prices for the companies we cover; SPGI is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 305.1M
- Revenue
- $15.3B
- Free cash flow
- $5.5B
- Owner earnings
- $5.2B
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 42.2%
- Net
- 29.2%
- Free cash flow
- 35.6%
- Owner earnings
- 34.0%
- Stock pay
- 1.5%
Returns
- ROIC, FY2025
- 12.0%
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 14.4%
- ROE, 5 yr avg
- 38.3%
Growth (CAGR)
- Revenue, 3 yr
- 11.1%
- Revenue, 5 yr
- 15.6%
- Revenue, 9 yr
- 11.7%
- Diluted EPS, 3 yr
- 12.9%
- Diluted EPS, 5 yr
- 8.7%
- Diluted EPS, 9 yr
- 7.1%
- Free cash flow, 3 yr
- 29.5%
- Free cash flow, 5 yr
- 9.3%
- Free cash flow, 9 yr
- 15.9%
Financial health · FY2025
- Cash and investments
- $1.8B
- Total debt
- $12.4B
- Net debt
- $10.6B
- Debt/Equity
- 0.4x
- Debt/FCF
- 2.3x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- 26.2%
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 4.7%
Financials: ten years from the 10-Ks
Revenue
$15.3B
+11.7% a year over 9 years
FY2016FY2025
Margins
Operating42.2%Net29.2%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$5.5BOwner earnings$5.2B
Free cash flow +15.9% a year
FY2016FY2025
Diluted shares
305.1M
+15.0% over 9 years, net dilution
FY2016FY2025
Return on invested capital
12.0%
FY2025
FY2016FY2025
Net debt (below zero)
-$10.6B
$10.6B more debt than cash
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $5.7B | $6.1B | $6.3B | $6.7B | $7.4B | $8.3B | $11.2B | $12.5B | $14.2B | $15.3B |
| Revenue growth | 6.5% | 7.1% | 3.2% | 7.0% | 11.1% | 11.5% | 34.8% | 11.8% | 13.7% | 7.9% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | 59.0% | 42.6% | 44.6% | 48.2% | 48.6% | 50.9% | 44.2% | 32.2% | 39.3% | 42.2% |
| Net income | $2.1B | $1.5B | $2.0B | $2.1B | $2.3B | $3.0B | $3.2B | $2.6B | $3.9B | $4.5B |
| Net margin | 37.2% | 24.7% | 31.3% | 31.7% | 31.4% | 36.4% | 29.0% | 21.0% | 27.1% | 29.2% |
| Diluted EPS | $7.94 | $5.78 | $7.73 | $8.60 | $9.66 | $12.51 | $10.20 | $8.23 | $12.35 | $14.66 |
| Return on invested capital? | 128.7% | 157.7% | 93.7% | 165.4% | 565.6% | – | 8.1% | 7.2% | 10.2% | 12.0% |
| Cash | ||||||||||
| Operating cash flow | $1.6B | $2.0B | $2.1B | $2.8B | $3.6B | $3.6B | $2.6B | $3.7B | $5.7B | $5.7B |
| Capital expenditure | $115.0M | $123.0M | $113.0M | $115.0M | $76.0M | $35.0M | $89.0M | $143.0M | $124.0M | $195.0M |
| Free cash flow | $1.4B | $1.9B | $2.0B | $2.7B | $3.5B | $3.6B | $2.5B | $3.6B | $5.6B | $5.5B |
| Stock-based compensation | $76.0M | $99.0M | $94.0M | $78.0M | $90.0M | $122.0M | $214.0M | $171.0M | $247.0M | $236.0M |
| Owner earnings? | $1.4B | $1.8B | $1.9B | $2.6B | $3.4B | $3.4B | $2.3B | $3.4B | $5.3B | $5.2B |
| Free cash flow per share | $5.45 | $7.31 | $7.71 | $10.78 | $14.42 | $14.74 | $7.89 | $11.19 | $17.84 | $17.88 |
| Capital allocation | ||||||||||
| Dividends paid | $380.0M | $421.0M | $503.0M | $560.0M | $645.0M | $743.0M | $1.0B | $1.1B | $1.1B | $1.2B |
| Share repurchases | $1.1B | $1.0B | $1.7B | $1.2B | $1.2B | $0 | $12.0B | $3.3B | $3.3B | $5.0B |
| Diluted shares | 265.2M | 258.9M | 253.2M | 246.9M | 242.1M | 241.8M | 318.5M | 318.9M | 311.9M | 305.1M |
| Share count change? | -3.4% | -2.4% | -2.2% | -2.5% | -1.9% | -0.1% | 31.7% | 0.1% | -2.2% | -2.2% |
| Balance sheet | ||||||||||
| Cash and equivalents | $2.4B | $2.8B | $1.9B | $2.9B | $4.1B | $6.5B | $1.3B | $1.3B | $1.7B | $1.7B |
| Short-term investments | $8.0M | $12.0M | $18.0M | $28.0M | $9.0M | $11.0M | $14.0M | $26.0M | $20.0M | $56.0M |
| Total debt | $3.6B | $3.2B | $3.7B | $3.9B | $4.1B | $4.1B | $10.7B | $11.4B | $11.4B | $12.4B |
| Net debt | $1.2B | $381.0M | $1.7B | $1.1B | -$7.0M | -$2.4B | $9.4B | $10.1B | $9.7B | $10.6B |
| Shareholders' equity | $650.0M | $709.0M | $628.0M | $479.0M | $509.0M | $2.0B | $36.4B | $34.2B | $33.2B | $31.1B |
Latest filings
| 2026-10-28 | 10-Q | Quarterly report |
| 2026-10-27 | 8-K | Earnings release |
| 2026-07-28 | 10-Q | Quarterly report |
| 2026-07-28 | 8-K | Earnings release |
| 2026-04-28 | 10-Q | Quarterly report |
| 2026-04-28 | 8-K | Earnings release |
| 2026-03-31 | DEF 14A | Proxy statement |
| 2026-02-11 | 10-K | Annual report |
| 2026-02-10 | 8-K | Earnings release |
| 2025-10-30 | 10-Q | Quarterly report |
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