S&P Global Inc (SPGI)
Fair ValueFundamental
74
Price
$394.47
Market Cap
$116.72B
Part 1 · What the company is worth
Overview
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.
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Direct competitors
Who this company fights with for the same customers
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No competitor list for this company yet.
Balance Sheet & Liquidity
Revenue
$15.73B
Trailing 12 months (through 3/31/2026)
Net Income
$4.78B
Trailing 12 months (through 3/31/2026)
Free Cash Flow
$5.46B
Total Equity
$31.13B
Total Liabilities
$25.05B
Current Ratio
0.68
Interest Coverage
22.63
Debt/EBITDA
1.82
Earnings Per Share
Revenue & Net Income
Free Cash Flow
Income Breakdown
Historical statement
Margins over time
Debt over time
How heavy the debt is
Growth grid
Growth — Revenue
Fair Value Estimation
Fair Value
$390.48
Current Price
$394.47
Margin of Safety
-1.0%
Fair Value Range
$288.51 - $492.45
Spread across the valuation methods used, not a statistically calibrated confidence interval.
Estimation Methods
Valuation Metrics
P/E Ratio
24.95
ROE
14.4%
P/B Ratio
3.75
P/FCF
21.02
Gross Margin
70.5%
ROIC
10.6%
Profitability Radar
Value Creation (Economic Moat)
ROIC
10.6%
WACC
9.4%
ROIC − WACC
+1.1 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
Fundamental Analysis Criteria
Passed (20)
- EPS shows upward trend
- EPS CAGR 9.34%
- Price CAGR 14.98%
- ROIC 10.6%
- Gross Margin 70.5%
- P/FCF 21.02
- Debt/Equity ratio
- Operating Margin 43.9%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 15.5%
- Revenue Growth 5Y 15.6%
- Analyst Consensus 85% Buy
- Earnings Quality (OCF/NI) 1.20
- Share Dilution -2.2%
- Net Margin Trend 30.4% vs 27.3%
- Piotroski F-Score 7/9
Failed (7)
- P/B Ratio 3.75
- Current Ratio
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
- Earnings Surprise avg 0.8%
- PEG Ratio 2.75
Unavailable (1)
- Dividend Payout NaN%
Piotroski F-Score
Strong financial health
Earnings Quality
High quality: earnings backed by cash
Share Dilution
Buying back shares. Shareholder friendly
Institutional Holdings
Governance
Executive Team
| Name | Title | Age |
|---|---|---|
| Ms. Martina L. Cheung | President, CEO & Director | 49 |
| Mr. Steven Kemps C.P.A. | Executive VP & Chief Legal Officer | 60 |
| Mr. Eric Walter Aboaf | CFO & Executive VP | - |
| Mr. Christopher Craig | Senior VP, Controller & Chief Accounting Officer | 52 |
| Ms. Sally Moore | Executive VP, Chief Client Officer & Co-Head of Market Intelligence Kensho Data & Platforms | 49 |
| Ms. Christina Twomey | Chief Communications Officer | 44 |
| Mr. Girish Ganesan | Executive VP & Chief People Officer | 44 |
| Mr. David Ernsberger | President of S&P Global Energy | 50 |
| Mr. Yann Le Pallec | President of S&P Global Ratings | - |
| Ms. Catherine R. Clay | Chief Executive Officer of S&P Dow Jones Indices | 58 |
Audit Risk
2
Board Risk
2
Compensation Risk
3
Shareholder Rights Risk
6
Part 2 · The price and when to enter
This part won't tell you whether the company is worth owning: it helps you choose when to buy it, once the fundamentals have convinced you. Inside: technical analysis, potential, historical drawdowns, gamma exposure.
Documents
- View document
Annual Report (10-K)
A yearly overview of the business, its financial results, and the risks it faces.
Filed on 2026-02-11
- View document
Quarterly Report (10-Q)
A snapshot of financial performance for the most recent three-month period.
Filed on 2026-07-28
- View document
Current Report (8-K)
An announcement of a major event, such as a leadership change or big news.
Filed on 2026-07-28
via SEC EDGAR
Income History
via SEC EDGAR
Latest News
Recent headlines for SPGI, sourced from Markets Gazette.
- 10d agoPOSITIVES&P Global Agrees To Acquire Smart Contract Security Firm OpenZeppelin
S&P Global has announced its agreement to acquire OpenZeppelin, a prominent firm specializing in smart contract security and auditing for blockchain technology. This strategic move by S&P Global, a leading provider of credit ratings, benchmarks, and analytics, signals a significant expansion into the burgeoning digital asset and Web3 ecosystem. The acquisition is expected to bolster S&P Global's capabilities in assessing the security and reliability of decentralized applications and smart contracts, a critical component for institutional adoption of blockchain technology. Investors may view this as a forward-looking strategy to capture value in the evolving financial technology landscape.
- 14d agoPOSITIVES&P Global to acquire blockchain security platform OpenZeppelin
S&P Global Inc. has announced its agreement to acquire OpenZeppelin, a prominent blockchain security platform. OpenZeppelin's smart contracts have been instrumental in facilitating over $37 trillion in value transfers, highlighting its significant role in the digital asset ecosystem. This strategic acquisition by S&P Global, a major player in financial information and analytics, is expected to bolster its capabilities in the rapidly evolving blockchain and cryptocurrency security space. Investors may view this move positively, anticipating enhanced service offerings and a stronger competitive position for S&P Global in the digital finance sector.
- 29d agoNEUTRALS&P Weighs Multibillion-Dollar Spinout of Data Unit CapIQ
S&P Global is reportedly exploring a multibillion-dollar spinout of its Capital IQ Pro data and research platform. This strategic move could establish Capital IQ Pro as an independent entity, potentially unlocking significant value. While the specifics of the spinout remain undisclosed, such a separation could allow S&P Global to focus on its core credit rating and market intelligence businesses, while Capital IQ Pro could pursue its own growth trajectory. Investors will be watching for further details on the valuation and structure of the potential deal.
- 7/28/2026POSITIVES&P Acquires Nigerian Rating Agency to Deepen Africa Coverage
S&P Global Ratings has acquired a majority stake in Agusto & Co., a Nigerian credit rating agency. This strategic move is designed to significantly enhance S&P's presence and analytical capabilities across the African continent, a region identified as having substantial untapped potential and currently underserved by global rating services. The acquisition is expected to bolster S&P's data and insights into African markets, potentially leading to more accurate risk assessments and new product development. For investors, this signals S&P's commitment to emerging markets and could pave the way for increased investment flows into Africa as transparency and data availability improve.
- 7/28/2026NEGATIVES&P Global’s Shares Drop as Company Misses Profit Estimates
S&P Global Inc. reported quarterly earnings that missed analyst expectations, primarily impacted by geopolitical events such as the US-Iran War. This conflict has created challenges in increasing contract pricing for its crucial energy data, news, and analysis division. The company's inability to pass on costs effectively suggests potential headwinds in its core business segments, raising concerns for investors about future revenue growth and profitability. The market reaction reflects a cautious outlook on the company's ability to navigate these external pressures.
- 6/20/2026POSITIVEIs AI a Threat to S&P Global? The Answer May Surprise Investors.
Contrary to investor concerns that Artificial Intelligence (AI) might disrupt its business model, S&P Global Inc. is poised to benefit from the technology. The company, a key provider of credit ratings, benchmarks, and analytics, is integrating AI to enhance its data analysis capabilities and product offerings. This strategic adoption is expected to improve efficiency, generate new revenue streams, and strengthen its competitive position in the financial information services sector. Investors should monitor S&P Global's AI-driven initiatives for potential growth catalysts.
- 6/10/2026POSITIVEHere's How Much You Would Have Made Owning S&P Global Stock In The Last 10 Years
An analysis of S&P Global Inc. stock performance over the past decade reveals a substantial return for investors. While specific figures are not detailed in the provided snippet, the title implies significant capital appreciation, likely driven by the company's dominant position in credit ratings, benchmarks, and data analytics. This sustained growth suggests a robust business model and effective management, making SPGI a potentially attractive long-term holding for investors seeking exposure to essential financial market infrastructure.
- 5/18/2026NEUTRALS&P’s Mobility Unit to Sell $2 Billion of Notes Ahead of Spinoff
S&P Global Inc. announced that its Mobility Global unit will issue $2 billion in notes. This move precedes the planned spinoff of the Mobility business, which is expected to be completed later this year. The issuance of debt by the unit itself, rather than the parent company, suggests an effort to finance the standalone operations or prepare for the separation. Investors will monitor the terms of the notes and the progress of the spinoff for potential impacts on S&P Global's overall financial structure and the future valuation of the spun-off entity.
via Markets Gazette