S&P Global SPGI financials

Banks & Capital Markets ยท Statements and segments from its SEC filings, 2007 to 2025.

S&P Global revenue, gross and operating margin, net income, free cash flow, cash and debt by quarter and by fiscal year, and revenue by segment, read from the company's own filings with the US Securities and Exchange Commission. Free to everyone; the Risk & Quality report that scores the company is the paid step.

  • revenue by segment: Market Intelligence, Ratings, Energy, Indices, Mobility, Engineering Solutions, Platts, Other / unallocated
  • revenue by product: Subscription, Non-subscription/Transaction, Non-transaction, Asset-linked fees, Recurring variable revenue, Sales usage-based royalties
  • revenue by region: United States, Europe, Asia, Rest Of World
  • operating income by segment: Ratings, Indices, Market Intelligence, Energy, Mobility, Engineering Solutions, Platts

The numbers

Annual figures

LineFY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue$5.7B$6.1B$6.3B$6.7B$7.4B$8.3B$11.2B$12.5B$14.2B$15.3B
Gross profit$3.9B*$4.4B*$4.4B*$4.7B*$5.3B*$6.1B*$7.4B*$8.4B*$9.8B*$10.8B*
Operating income$3.3B$2.6B$2.8B$3.2B$3.6B$4.2B$4.9B$4B$5.6B$6.5B
Net income$2.1B$1.5B$2B$2.1B$2.3B$3B$3.2B$2.6B$3.9B$4.5B
EPS (diluted)$7.94$5.78$7.73$8.60$9.66$12.51$10.20$8.23$12.35$14.66
Operating cash flow$1.6B$2B$2.1B$2.8B$3.6B$3.6B$2.6B$3.7B$5.7B$5.7B
Free cash flow$1.4B*$1.9B*$2B*$2.7B*$3.5B*$3.6B*$2.5B*$3.6B*$5.6B*$5.5B*
Cash & equivalents$2.4B$2.8B$1.9B$2.9B$4.1B$6.5B$1.3B$1.3B$1.7B$1.7B
Total debt$3.6B$3.2B$3.7B$3.9B$4.1B$4.1B$11B$11.5B$11.4B$13.1B
Gross margin68.7%72.1%70.6%70.5%71.9%73.7%66.4%66.9%69.3%70.2%
Operating margin59.0%42.6%44.6%48.2%48.6%50.9%44.2%32.2%39.3%42.2%
Net margin37.2%24.7%31.3%31.7%31.4%36.4%29.0%21.0%27.1%29.2%

Latest quarters

LineQ2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026
Revenue$3.5B$3.6B$3.6B*$3.8B$3.8B$3.9B$3.9B*$4.2B
Gross profit$2.5B*$2.5B*$2.5B*$2.6B*$2.6B*$2.8B*$2.7B*$2.9B*
Operating income$1.5B$1.4B$1.3B*$1.6B$1.6B$1.7B$1.7B*$2B
Net income$1B$971M$880M*$1.1B$1.1B$1.2B$1.1B*$1.4B
EPS (diluted)$3.23$3.11$2.85*$3.54$3.50$3.86$3.76*$4.69
Operating cash flow$1.6B*$1.4B*$1.7B*$953M$1.4B*$1.5B*$1.7B*$1B
Free cash flow$1.5B*$1.4B*$1.7B*$910M*$1.4B*$1.5B*$1.7B*$1B*
Cash & equivalents$2B$1.7B$1.7B$1.5B$1.8B$1.7B$1.7B$1.8B
Total debt$11.4B$11.4B$11.4B$11.4B$11.4B$11.4B$13.1B$13.3B
Gross margin69.6%70.2%69.2%69.5%70.2%71.2%70.1%70.4%
Operating margin40.9%40.1%36.4%41.8%41.3%43.1%42.7%48.0%
Net margin28.5%27.2%24.5%28.9%28.5%30.2%29.0%33.4%

Revenue by segment

LineFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Market Intelligence$1.7B$1.8B$2B$2B$2.2B$3.8B$4.4B$4.6B$4.9B
Ratings$3B$2.9B$3.1B$3.6B$4.1B$3.1B$3.2B$4.2B$4.5B
Energy---$938M$1B$1.7B$1.9B$2.1B$2.3B
Indices$728M$837M$918M$989M$1.1B$1.3B$1.4B$1.6B$1.8B
Mobility---$0$0$1.1B$1.5B$1.6B$1.7B
Engineering Solutions---$0$0$323M$133M$0$0
Platts$774M$815M$844M------

Revenue by product

LineFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Subscription$2.5B$2.7B$2.8B$3B$3.3B$6.2B$7B$7.3B$7.9B
Non-subscription/Transaction$1.6B$1.4B$1.6B$2B$2.3B$1.8B$2.1B$3B$3.1B
Non-transaction$1.4B$1.4B$1.4B$1.5B$1.7B$1.6B$1.7B$1.9B$2.1B
Asset-linked fees$484M$542M$623M$648M$800M$862M$859M$1B$1.2B
Recurring variable revenue-----$385M$504M$579M$623M
Sales usage-based royalties$188M$225M$200M$227M$224M$286M$348M$393M$444M

Revenue by region

LineFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
United States$3.7B$3.8B$3.9B$4.5B$5B$6.7B$7.5B$8.6B$9.3B
Europe$1.5B$1.5B$1.7B$1.8B$2B$2.6B$2.8B$3.3B$3.5B
Asia$594M$647M$715M$782M$874M$1.2B$1.4B$1.5B$1.6B
Rest Of World$338M$318M$354M$387M$416M$685M$758M$821M$843M

Operating income by segment

LineFY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Ratings$1.5B$1.5B$1.8B$2.2B$2.6B$1.7B$1.9B$2.7B$3B
Indices$478M$563M$630M$666M$798M$927M$925M$1.1B$1.3B
Market Intelligence$457M$545M$607M$569M$676M$2.5B$714M$875M$991M
Energy---$478M$544M$591M$704M$845M$943M
Mobility---$0$0$213M$260M$312M$378M
Engineering Solutions---$0$0$15M$19M$0$0
Platts$326M$383M$438M------

* derived: a fourth quarter as the year less the three filed quarters, or a remainder as the total less the parts. All other figures are as filed.

About this page

Every figure on this page is read from S&P Global's own SEC filings: the statement lines from the SEC's XBRL company-facts feed, the revenue splits from the segment and revenue notes of each 10-K and 10-Q. Nothing is typed in or estimated. The cache refreshes daily.

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