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SPGI (S&P Global Inc.) Stock Financials & Earnings | Market Cap Arena
SPGI
S&P Global Inc.
Mkt Cap
$132B
Financial Services
·
Financial - Data & Stock Exchanges
·
🇺🇸 United States
·
NYSE
Revenue (TTM)
$15.3B
Net Income (TTM)
$4.5B
EPS (TTM)
$14.65
Free Cash Flow (TTM)
$5.5B
Gross Margin
70.2%
Op. Margin
42.2%
Net Margin
29.2%
FCF Margin
35.6%
P/S Ratio (TTM)
8.6x
P/E Ratio (TTM)
29.5x
YoY Rev Growth
+7.9%
Employees
—
Earnings Reports
▶
Q4 2025
Browse All Reports
Quarterly
FY
Revenue & Profitability
Revenue
Gross Profit
Operating Income
Quarter
Revenue
Gross Profit
Op. Income
Q1 23
$3.2B
$2.1B
$1.1B
Q2 23
$3.1B
$2.1B
$911M
Q3 23
$3.1B
$2.1B
$1.1B
Q4 23
$3.2B
$2.1B
$890M
Q1 24
$3.5B
$2.4B
$1.4B
Q2 24
$3.5B
$2.5B
$1.5B
Q3 24
$3.6B
$2.5B
$1.4B
Q4 24
$3.6B
$2.5B
$1.3B
Q1 25
$3.8B
$2.6B
$1.6B
Q2 25
$3.8B
$2.6B
$1.6B
Q3 25
$3.9B
$2.8B
$1.7B
Q4 25
$3.9B
$2.7B
$1.7B
marketcaparena.com
Revenue Breakdown
SPGI
S&P Global Inc.
Revenue Breakdown
Q4 2025
marketcaparena.com
Valuation
P/S Ratio
P/E Ratio
Quarter
P/S
P/E
Q1 23
11.1x
47.1x
Q2 23
11.0x
56.3x
Q3 23
10.8x
53.3x
Q4 23
10.6x
50.3x
Q1 24
10.3x
46.8x
Q2 24
10.0x
39.8x
Q3 24
9.6x
37.2x
Q4 24
9.3x
34.3x
Q1 25
9.1x
33.4x
Q2 25
9.0x
32.9x
Q3 25
8.8x
31.3x
Q4 25
8.6x
29.5x
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Operating Cash Flow
Operating Cash Flow
Free Cash Flow
Quarter
Operating CF
Free CF
Q1 23
$594M
$566M
Q2 23
$769M
$738M
Q3 23
$1.0B
$977M
Q4 23
$1.3B
$1.3B
Q1 24
$948M
$924M
Q2 24
$1.6B
$1.5B
Q3 24
$1.4B
$1.4B
Q4 24
$1.7B
$1.7B
Q1 25
$953M
$910M
Q2 25
$1.4B
$1.4B
Q3 25
$1.5B
$1.5B
Q4 25
$1.7B
$1.7B
marketcaparena.com
Capital Expenditures
CapEx
Quarter
CapEx
Q1 23
$28M
Q2 23
$31M
Q3 23
$36M
Q4 23
$48M
Q1 24
$24M
Q2 24
$32M
Q3 24
$35M
Q4 24
$33M
Q1 25
$43M
Q2 25
$61M
Q3 25
$45M
Q4 25
$46M
marketcaparena.com
OpEx vs Revenue Growth (YoY)
Revenue Growth
OpEx Growth
Quarter
Revenue Growth
OpEx Growth
Q1 23
+32.3%
+305.6%
Q2 23
+3.6%
+44.9%
Q3 23
+7.8%
+0.1%
Q4 23
+7.3%
+1.8%
Q1 24
+10.5%
+4.5%
Q2 24
+14.4%
-4.2%
Q3 24
+15.9%
+6.5%
Q4 24
+14.0%
+0.9%
Q1 25
+8.2%
+4.4%
Q2 25
+5.8%
+5.1%
Q3 25
+8.8%
+3.4%
Q4 25
+9.0%
-1.8%
marketcaparena.com
Stock-Based Compensation
SBC ($)
% of Revenue
Quarter
SBC ($)
% of Revenue
Q1 23
$46M
1.5%
Q2 23
$51M
1.6%
Q3 23
$46M
1.5%
Q4 23
$28M
0.9%
Q1 24
$33M
0.9%
Q2 24
$49M
1.4%
Q3 24
$95M
2.7%
Q4 24
$70M
1.9%
Q1 25
$47M
1.2%
Q2 25
$45M
1.2%
Q3 25
$75M
1.9%
Q4 25
$69M
1.8%
marketcaparena.com
OpEx Breakdown
SG&A
Quarter
SG&A
Q1 23
$705M
Q2 23
$771M
Q3 23
$741M
Q4 23
$942M
Q1 24
$714M
Q2 24
$734M
Q3 24
$808M
Q4 24
$919M
Q1 25
$764M
Q2 25
$803M
Q3 25
$805M
Q4 25
$1.0B
marketcaparena.com
Revenue Segments
Commodity Insights
Engineering Solutions Segment
Indices Segment
Market Intelligence Segment
Mobility
Ratings Segment
Quarter
Commodity Insights
Engineering Solutions Segment
Indices Segment
Market Intelligence Segment
Mobility
Ratings Segment
Q1 23
$508M
$100M
$341M
$1.1B
$358M
$824M
Q2 23
$462M
$33M
$348M
$1.1B
$369M
$851M
Q3 23
$479M
—
$354M
$1.1B
$379M
$819M
Q4 23
$497M
—
$360M
$1.1B
$378M
$838M
Q1 24
$559M
—
$387M
$1.1B
$386M
$1.1B
Q2 24
$516M
—
$389M
$1.2B
$400M
$1.1B
Q3 24
$522M
—
$416M
$1.2B
$412M
$1.1B
Q4 24
$545M
—
$436M
$1.2B
$411M
$1.1B
Q1 25
$612M
—
$445M
$1.2B
$420M
$1.1B
Q3 25
$556M
—
$462M
$1.2B
$445M
$1.2B
marketcaparena.com
Revenue by Geography
Asia
Europe
Rest Of World
United States
Quarter
Asia
Europe
Rest Of World
United States
Q1 23
$337M
$711M
$186M
$1.9B
Q2 23
$342M
$703M
$191M
$1.9B
Q3 23
$344M
$693M
$194M
$1.9B
Q4 23
$352M
$715M
$187M
$1.9B
Q1 24
$356M
$776M
$209M
$2.1B
Q2 24
$368M
$830M
$200M
$2.2B
Q3 24
$388M
$802M
$209M
$2.2B
Q4 24
$379M
$848M
$203M
$2.2B
Q1 25
$382M
$849M
$204M
$2.3B
Q2 25
$408M
$863M
$215M
$2.3B
Q3 25
$430M
$885M
$211M
$2.4B
Q4 25
$420M
$934M
$213M
$2.3B
marketcaparena.com
War Chest
Cash & Equivalents
Short-Term Investments
Quarter
Cash
Short-term Investments
Total
Q1 23
$1.4B
$0
$1.4B
Q2 23
$1.6B
$0
$1.6B
Q3 23
$1.6B
$0
$1.6B
Q4 23
$1.3B
$26M
$1.3B
Q1 24
$1.5B
$0
$1.5B
Q2 24
$2.0B
$0
$2.0B
Q3 24
$1.7B
$0
$1.7B
Q4 24
$1.7B
$20M
$1.7B
Q1 25
$1.5B
$0
$1.5B
Q2 25
$1.8B
$0
$1.8B
Q3 25
$1.7B
$0
$1.7B
Q4 25
$1.7B
$56M
$1.8B
marketcaparena.com
Shares Outstanding
Shares Outstanding
Quarter
Shares (Diluted)
QoQ Change
Q1 23
322M
-1.0%
Q2 23
320M
-0.7%
Q3 23
318M
-0.6%
Q4 23
316M
-0.7%
Q1 24
314M
-0.6%
Q2 24
313M
-0.3%
Q3 24
312M
-0.5%
Q4 24
312M
+0.1%
Q1 25
308M
-1.3%
Q2 25
306M
-0.5%
Q3 25
305M
-0.5%
Q4 25
302M
-0.8%
marketcaparena.com
Revenue Per Employee
Revenue / Employee
Year
Revenue/Employee
Employees
FY 14
$297K
17K
FY 15
$260K
20K
FY 16
$283K
20K
FY 17
$297K
20K
FY 18
$295K
21K
FY 19
$298K
23K
FY 20
$324K
23K
FY 21
$363K
23K
FY 22
$280K
40K
FY 23
$309K
40K
FY 24
$335K
42K
FY 25
$345K
45K
marketcaparena.com