S&P Global Inc.
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Range $498 – $625
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About the company
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 five segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, S&P Global Mobility, and S&P Dow Jones Indices.
- CEO
- Martina L. Cheung
- IPO
- 1973
- Employees
- 44,500
- HQ
- New York, NY, US
AI snapshot
Six angles, distilled from the data.
The long-term trend is still constructive, but the stock remains below its 200-day average, so the setup is more of a recovery than a clean breakout. It sits well off the 52-week high and has been rebuilding above the 50-day line, which points to improving intermediate momentum after a deeper reset.
Street sentiment stays firmly positive: 24 Buy and 4 Hold ratings, with no sells, and the consensus target of 541.22 sits above the current share price. Recent target cuts have been offset by fresh raises, including Stifel to 521 and BMO to 505, suggesting confidence remains intact despite a lower valuation band.
The next print comes with a solid beat record, including 6 beats in the last 7 quarters. Analysts still see EPS rising to 20.2999 next year from a 15.46 TTM base, so shareholders should watch whether Ratings, Market Intelligence, and indices keep supporting that step-up.
Discretionary insider buying has been the main signal, with three recent purchases from a director and senior executives, including $1.08 million from the CEO of S&P Dow Jones Indices and about $1.0 million from the CEO & President. The other activity is mostly award, return, or exempt-flow noise, not a clear bearish tell.
Profitability remains strong, with a 44.28% operating margin, 30.36% net margin, and 70.5% gross margin. Growth is still healthy too, with revenue up 10.4% year over year and earnings up 32.5%, while free cash flow of $5.846 billion supports the franchise.
SPGI still looks like a premium compounder versus most financial-data peers, backed by scale in ratings, indices, and workflow tools. The valuation is not cheap, but the market is paying for durable margins, recurring cash flow, and a business mix that is less cyclical than many capital-markets names.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $126.21B
- P/E
- 26.97
- Fwd P/E
- 23.05
- PEG
- 1.12
- P/S
- 8.02
- P/B
- 4.07
- EV/EBITDA
- 17.33
- Div Yield
- 0.91%
- Gross Margin
- 70.47%
- Op Margin
- 43.88%
- Net Margin
- 30.37%
- ROE
- 14.80%
- ROIC
- 9.87%
Latest fiscal year · YoY change
- Revenue
- $15.34B+7.9%
- Gross Profit
- $10.77B+9.7%
- Op Income
- $6.48B
- Net Income
- $4.47B+16.1%
- EPS
- $14.67+18.7%
- OCF Growth
- -0.7%
- FCF Growth
- -2.0%
- 52W High
- $547.82
- 52W Low
- $361.03
- 50D MA
- $407.34
- 200D MA
- $435.66
- Beta
- 1.08
- RSI (14)
- 51
- Avg Volume
- 2.27M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
S&P Global delivered a strong first quarter with 10% revenue growth, 14% EPS growth, and broad margin expansion, while keeping full-year guidance mostly intact except for a lower Energy outlook tied to Iran-related disruption.· April 28, 2026
- Revenue rose 10% year over year, or 9% organic constant currency; adjusted diluted EPS increased 14%.
- Margin expansion was strong across the company, with consolidated adjusted margin at 51.8% and 100 bps of year-over-year expansion.
- Ratings and Indices were standout businesses, with Ratings revenue up 13% and Indices revenue up 17%.
- Management said first-quarter issuance was pulled forward by hyperscaler financing, so Ratings growth should not accelerate in Q2 and should fade later in the year.
- Energy guidance was cut by 1 point to reflect Iran-related market disruption, while Mobility remains on track for a mid-2026 spin.
- Capital allocation stayed aggressive, with $1 billion returned via buybacks in the quarter and a plan to repurchase at least 100% of adjusted free cash flow this year.
First quarter reported revenue grew 10% year over year, or 9% organic constant currency, and adjusted diluted EPS grew 14%. Consolidated adjusted expenses increased 8%, adjusted operating profit rose 12%, and adjusted margin expanded 100 basis points to 51.8%. By division, Market Intelligence revenue grew 8% (6% organic constant currency) and margin expanded 80 bps to 33.6%; Ratings revenue grew 13% and margin expanded 160 bps to 67.8%; Energy revenue grew 7% and margin expanded 120 bps to 49.3%; Indices revenue grew 17% and margin expanded 90 bps to 73.8%; Mobility revenue grew 8% and margin expanded 150 bps to 40%. Full-year consolidated guidance was reiterated for 6% to 8% organic constant currency revenue growth and 50 to 75 bps of margin expansion excluding OSTTRA, while adjusted EPS guidance was unchanged. Energy full-year organic constant currency revenue guidance was reduced to 4.5% to 6%, down 1 percentage point, due to the Iran conflict and related disruption. Management also said it expects to return at least 100% of adjusted free cash flow via repurchases, or roughly $4.5 billion for the year, and that leverage would rise to about 2.4x at year-end before Mobility spin-related debt proceeds.
Martina Cheung framed the quarter as evidence that S&P Global is executing well despite a more difficult macro and geopolitical backdrop. She emphasized progress on the company’s three strategic pillars: market leadership, expansion into high-growth adjacencies, and AI-enabled enterprise capabilities. Her tone was confident and constructive, but she repeatedly noted that volatility, private credit scrutiny, and the Iran conflict are creating meaningful uncertainty for customers and markets.
Eric Aboaf highlighted strong top-line growth, disciplined spending, and better-than-expected margins. He pointed to 10% reported revenue growth, 9% organic constant currency growth, 14% EPS growth, and 51.8% consolidated margin, plus 160 bps of margin expansion excluding OSTTRA. He also reiterated 6% to 8% organic constant currency revenue growth for the year, 50 to 75 bps of margin expansion excluding OSTTRA, and an unchanged EPS outlook, while noting the company expects about $2 billion of debt to be issued at Mobility and plans to raise repurchases to at least $4.5 billion.
Analysts focused heavily on AI distribution and monetization, asking whether S&P will build MCP applications, how it will price data across own platforms versus third-party LLMs, and whether AI is already driving efficiency. Management said it intends to build MCP applications thoughtfully, monetize through enterprise value rather than seat-based or pure usage pricing, and that some clients are already paying 35% to 45% more at renewal for AI-ready access. Questions also centered on Ratings mix, private credit, and Energy weakness; management said Q1 ratings strength was helped by pulled-forward hyperscaler issuance, private credit grew 25% but remains an area of cautious optimism, and Energy remains directly pressured by the Iran conflict with near-term demand and pipeline softness.
The call suggested S&P Global is converting AI interest into real customer engagement, with more than 300 customers under contract or in trial for Kensho-LLM-ready APIs and management citing early pricing power on AI-ready renewals. Core businesses also performed well, especially Ratings and Indices, while management kept most full-year guidance intact and signaled continued aggressive buybacks.
Management acknowledged substantial macro and geopolitical risk, especially in Energy, where the Iran conflict is already disrupting customers and could weigh on growth for several quarters. Ratings also faces tougher comparisons later in the year after a strong, partly pull-forward first quarter, and management said it does not expect acceleration in second-quarter Ratings revenue growth.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.8%
- Shares Outstanding
- 296.00M
- Float Shares
- 295.28M
of shares held by institutions
2,161 13F filers
Buy/sell ratio 1.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for SPGI, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Alan ArmstrongSenate | Buy | Mar 27, 26 | Filing → |
| Thomas H. KeanHouse · NJ07 | Sell | Jun 29, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Jun 17, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Jun 25, 26 | Filing → |
| Rick LarsenHouse · WA02 | Sell | Jul 8, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Jun 2, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Jun 3, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Jun 4, 26 | Filing → |
| Richard W. AllenHouse · GA12 | Sell | Apr 16, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Apr 14, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Apr 1, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Apr 20, 26 | Filing → |
| Michael McCaulHouse · TX10 | Buy | Apr 28, 26 | Filing → |
| Thomas H. KeanHouse · NJ07 | Sell | Mar 26, 26 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 30.37M | ▲ 117.73K |
| Blackrock, Inc. | 24.07M | ▼ 1.74M |
| State Street Corp | 14.18M | ▼ 84.16K |
| Tci Fund Management Ltd | 14.04M | ▲ 2.25M |
| Morgan Stanley | 7.91M | ▼ 424.92K |
| Geode Capital Management, LLC | 6.92M | ▲ 60.38K |
| Wellington Management Group Llp | 6.06M | ▲ 1.28M |
| Norges Bank | 4.59M | ▲ 4.59M |
| Bank Of America Corp | 4.45M | ▼ 100.23K |
| Capital International Investors | 3.52M | ▲ 478.40K |
| Curated Wealth Partners LLC | 3.51M | ▲ 3.51M |
| Fmr LLC | 3.27M | ▼ 146.42K |
Held by 1,878 ETFs
Biggest fund positions in SPGI by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 1, 26 | Thomas Darren Robert | other | 0 |
| Jul 1, 26 | Thomas Darren Robert | other | 285 |
| Jul 1, 26 | Eager William W | other | 13,286 |
| Jul 1, 26 | Eager William W | other | 4,917 |
| Jul 1, 26 | Eager William W | sell | 4,917 |
| Jul 1, 26 | Eager William W | sell | 3,569 |
| May 1, 26 | Bhathena Firdaus | other | 4,115 |
| May 1, 26 | Bhathena Firdaus | other | 2,743 |
| Apr 30, 26 | Moritz Robert Edward Jr. | buy | 1,151.996 |
| May 1, 26 | Clay Catherine R | buy | 2,500 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our SPGI coverage
Recent articles, reports, and earnings notes.

S&P Global (SPGI): AI-Driven Data Compounder
S&P Global combines recurring data, ratings, and index revenue with strong AI product adoption and elite margins. The stock looks attractive on pullbacks, but valuation keeps the upside measured.

S&P Global Inc. (SPGI) rises after Mobility spin-off
S&P Global Inc. (SPGI) rises sharply after completing the spin-off of its Mobility business into Mobility Global Inc. The move reflects post-separation repricing as investors reassess the value of SPGI’s core ratings, indices, and data franchises.

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Want a deeper read on SPGI?
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S&P Global: Strong Q2 Expected From The Crown Jewel Segments
seekingalpha.com · Jul 23
S&P Global Gears Up to Report Q2 Earnings: What's in Store?
zacks.com · Jul 23
S&P Global (SPGI) Q2 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
zacks.com · Jul 23
S&P Global Market Intelligence Partners with Farsight to Launch AI-powered Financial Workflow Capability for Capital IQ Pro
prnewswire.com · Jul 23
S&P Global Inc. (SPGI) Presents at GenAI Fundraising: From Private Rounds to Public Markets Transcript
seekingalpha.com · Jul 22
S&P Dow Jones Indices and Pantera Capital Launch New Index for Digital Assets
prnewswire.com · Jul 21
S&P Global Launches Adaptive Retrieval, Giving Customers a New Way to Access Data Across AI and Agentic Workflows
prnewswire.com · Jul 21
S&P Global (SPGI) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
zacks.com · Jul 21
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
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AI analysis · Last refreshed July 24, 2026 · Live quote · Not investment advice