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SPGI S&P Global Inc.

NYSEIndustrialsServices-Consumer Credit Reporting, Collection AgenciesNew York, NYFY ends December 31

Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 11, 2026

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$15.3BYoY—ended Dec 31, 2025
Net income
$4.47B29.2% margin
Diluted EPS
$14.66YoY—
Free cash flow
—
Cash
$1.75BNet debt $10.6B
Total debt
$12.4BD/E 0.4×
About S&P Global Inc.

Overview

S&P Global Inc. (SPGI) is listed on NYSE; the SEC classifies it under "Services-Consumer Credit Reporting, Collection Agencies".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $15.34B.

Net income was $4.47B, a net margin of 29.2%.

At fiscal year end it had total assets of $61.2B and stockholders' equity of $31.13B (50.9% of assets).

Fiscal years shown
FY2015–FY2025 (10 years)
Latest 10-K
Feb 11, 2026
Latest filing
10-QOct 28, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$5.66B$2.11B37.2%
FY2017$6.06B$1.5B24.7%
FY2018$6.26B$1.96B31.3%
FY2019$6.7B$2.12B31.7%
FY2020$7.44B$2.34B31.4%
FY2021$8.3B$3.02B36.4%
FY2022$11.2B$3.25B29.0%
FY2023$12.5B$2.63B21.0%
FY2024———
FY2025$15.3B$4.47B29.2%

Gross, operating and net margin

Gross, operating and net margin, fiscal years FY2016 to FY2025.
PeriodGross marginOperating marginNet margin
FY201668.8%59.5%37.2%
FY201771.7%43.0%24.7%
FY201872.8%44.6%31.3%
FY201973.1%48.2%31.7%
FY202071.9%48.6%31.4%
FY202173.5%50.9%36.4%
FY202266.3%44.2%29.0%
FY202366.9%32.2%21.0%
FY2024———
FY202570.2%42.2%29.2%

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$7.94
FY2017$5.78
FY2018$7.73
FY2019$8.60
FY2020$9.66
FY2021$12.51
FY2022$10.20
FY2023$8.23
FY2024—
FY2025$14.66

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY2016265M
FY2017259M
FY2018253M
FY2019247M
FY2020242M
FY2021242M
FY2022319M
FY2023319M
FY2024—
FY2025305M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalentsTotal debt
FY2016$2.39B$3.56B
FY2017$2.78B$3.17B
FY2018$1.92B$3.66B
FY2019$2.87B$3.95B
FY2020$4.11B$4.11B
FY2021$6.5B$4.11B
FY2022$1.29B$10.7B
FY2023$1.29B$11.4B
FY2024——
FY2025$1.75B$12.4B

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Gross margin
70.2%
Operating margin
42.2%
Net margin
29.2%
Return on equity
—
Return on assets
—

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenue—up 11.11%up 15.56%—
EPS (diluted)—up 12.85%up 8.70%up 7.05%
Free cash flow————
Change in share count
—

Financial strength

Current ratio
0.82×
Debt / equity
0.4×
Liabilities / assets
40.9%
Net debt
$10.6B
Interest coverage
22.6×
Equity / assets
50.9%

Shareholder returns

Dividends per share
$3.84
Dividends paid
$1.17B
Buybacks
$5B
Payout ratio
26.2%
Stock comp. / revenue
1.5%
Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

Not enough comparable 10-K data: a score needs at least 7 of the 9 checks.

Altman Z''-Score

Safe zone (above 2.60)

FY2025

Altman Z''-Score: Components
ComponentsRatioWeightPoints
Working capital / assets-0.022×6.56-0.14
Retained earnings / assets0.387×3.261.26
Operating income / assets0.106×6.720.71
Equity / liabilities1.243×1.051.30
Z''3.13

Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016FY2015Dec 31, 2015
Revenue15,33612,49711,1818,2977,4426,6996,2586,0635,6615,313
YoY (Revenue)—+11.77%+34.76%+11.49%+11.09%+7.05%—+7.10%+6.55%—
Gross profit10,7738,3567,4156,1025,3504,8984,5574,3503,8923,641
Selling, general & admin.3,4173,1593,3831,7141,5431,5171,5611,5601,4431,578
Operating income6,4784,0204,9444,2213,6173,2262,7902,6103,3691,917
Interest expense287334304119141198134149181102
Pretax income6,2273,6714,7024,1643,2282,9302,6812,4613,1881,815
Income tax1,4077781,180901694627560823960547
Net income4,4712,6263,2483,0242,3392,1231,9581,4962,1061,156
YoY (Net income)—-19.15%+7.41%+29.29%+10.17%+8.43%+30.88%-28.96%+82.18%—
EPS (basic)14.678.2510.2512.569.718.657.805.848.024.26
EPS (diluted)14.668.2310.2012.519.668.607.735.787.944.21
YoY (EPS (diluted))—-19.31%-18.47%+29.50%+12.33%+11.25%+33.74%-27.20%+88.60%—
Diluted shares (weighted)305319319242242247253259265275

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016FY2015Dec 31, 2015
Cash & equivalents1,7451,2901,2866,4974,1082,8661,9172,7792,3921,481
Receivables3,4412,8262,4941,6501,5931,5771,4491,3191,122991
Current assets6,2965,1435,6678,8105,9884,7123,6044,3243,6713,296
Goodwill36,47534,85034,5453,5063,7353,5753,5352,9892,9492,882
Intangible assets16,27117,39818,3061,2851,3521,4241,5241,3881,5061,522
Total assets61,20060,58961,78415,02612,53711,3489,4589,4258,6698,183
Current liabilities7,6376,1255,9993,8153,5873,0932,6293,2142,6112,908
Long-term debt12,37011,41210,7304,1144,1103,9483,6623,1703,5643,468
Total liabilities25,04822,48922,0409,4909,1858,5447,1547,3076,8887,020
Retained earnings23,66618,72817,78415,01713,36712,20511,28410,0259,2107,636
Stockholders' equity31,12734,20036,3882,032509479628711650194
Shares outstanding299314322241241244248254258265

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016FY2015Dec 31, 2015
Operating cash flow5,6513,7102,6033,5983,5672,7762,0642,0161,464195
Depreciation & amortization1,1791,1431,013178206204206180181157
Stock-based compensation236171214122907894997678
Share repurchases5,0013,30112,00401,1641,2401,6601,0011,123974
Dividends paid1,1701,1471,024743645560503421380363
Dividends per share3.843.603.323.082.682.282.001.641.441.32
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$14.66
Revenue per share
$50.27
Book value per share
$102.02
Tangible book per share
-$70.86
Cash per share
$5.72
Dividends per share
$3.84
Public floatas of Jun 30, 2025
$161B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-Q
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  2. 8-K
    Current report· Oct 27, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  3. 8-K
    Current report· Oct 23, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  4. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  5. 8-K
    Current report· Jul 28, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  6. S-4
    Registration statement (business combination)(SEC EDGAR)
  7. 8-K
    Current report· Jul 1, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  8. 8-K/A
    Current report (amendment)· Jul 1, 2026(SEC EDGAR)
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  9. 8-K
    Current report· Jun 30, 2026(SEC EDGAR)
    • 1.01Material agreement
    • 2.01Acquisition or disposal of assets
    • 8.01Other events
    • 9.01Financial statements and exhibits
  10. 8-K
    Current report· May 19, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
All filings on SEC EDGAR

Frequently asked questions

What does S&P Global Inc. do?

The SEC classifies S&P Global Inc. under Standard Industrial Classification (SIC) code 7320, "Services-Consumer Credit Reporting, Collection Agencies". It is headquartered in New York, NY. It is incorporated in NY. In fiscal 2025 it reported revenue of $15.34B and net income of $4.47B in its annual 10-K report.

What was S&P Global Inc.'s revenue in 2025?

S&P Global Inc. reported revenue of $15.34B for fiscal 2025, which ended Dec 31, 2025, according to its annual 10-K report filed with the SEC on Feb 11, 2026.

What was S&P Global Inc.'s net income in 2025?

S&P Global Inc. reported net income of $4.47B for fiscal 2025, a net margin of 29.2% of revenue.

Where is S&P Global Inc. listed?

According to the SEC, S&P Global Inc.'s ticker SPGI is listed on NYSE.

When does S&P Global Inc.'s fiscal year end?

According to the SEC, S&P Global Inc.'s fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.