Stock research

S&P Global Inc. (SPGI) Stock Research

S&P Global provides credit ratings, market data, and financial indices used across capital markets.

For the fiscal year ended December 31, 2025, S&P Global Inc. reported revenue of $15.3B and net income of $4.5B, with operating cash flow of $5.7B. Source: Form 10-K filed February 11, 2026

SEC data as of

Revenue
$15.3B
FY ending 2025-12-31
Net income
$4.5B
FY ending 2025-12-31
Diluted EPS
$14.66
Net margin
29.2%

Reported SEC XBRL figures. Each metric’s period and original filing are listed below.

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About S&P Global

Exchange
NYSE: SPGI
Sector
Financials
SEC industry
Services-Consumer Credit Reporting, Collection Agencies (SIC 7320)
Fiscal year end
December 31

SPGI key financials

Reported figures from S&P Global Inc.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.

MetricValuePeriodSource
Revenue$15.3B2025-01-01 – 2025-12-31SEC filing
Net income$4.5B2025-01-01 – 2025-12-31SEC filing
Operating cash flow$5.7B2025-01-01 – 2025-12-31SEC filing
Diluted EPS$14.662025-01-01 – 2025-12-31SEC filing
Net margin29.2%2025-01-01 – 2025-12-31SEC filing
Shares outstanding299MAs of 2026-01-30SEC filing

Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.

Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.

What investors should watch in SPGI

S&P Global Inc. sits in Financials. Banks, insurers, asset managers, and exchanges — the plumbing of capital markets, geared directly to interest rates and credit. We have not yet written company-specific drivers for SPGI; the forces that matter most for the sector are:

  • ◆The shape of the yield curve and net interest margins
  • ◆Credit quality and loan-loss provisions
  • ◆Regulation and capital requirements
  • ◆Deal activity and market volatility

Key questions for the SPGI thesis

Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.

Does SPGI's reported profit turn into cash?

Operating cash flow was $5.7B, 1.26 times net income of $4.5B, for the fiscal year ended December 31, 2025.

Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.

Form 10-K filed February 11, 2026

How much of SPGI's revenue is left as profit?

Net income was 29.2% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.

Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.

Form 10-K filed February 11, 2026

Members-only research

What members are reading this month

The thesis, the numbers behind it, and what would break it. Full access is $39 a month.

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Congressional trading in SPGI

PoliticianTrade dateTypeOwnerAmountSource
Rick Larsen2026-07-08SaleSelf$1,001 - $15,000Filing #20034977
Thomas Kean2026-06-29SaleSelf$1,001 - $15,000Filing #20035003
Jared Moskowitz2026-06-17SaleDependent$1,001 - $15,000Filing #20034963
Jared Moskowitz2026-06-17SaleDependent$1,001 - $15,000Filing #20034963
Jared Moskowitz2026-06-17SaleSelf$1,001 - $15,000Filing #20034963
Rick Allen2026-04-16SaleSpouse$15,001 - $50,000Filing #20034473
Alan Armstrong2026-03-27PurchaseSelf$1,001 - $15,000Filing #fda235b3-bad7-4637-8fa1-053f354d929c
Thomas Kean2026-03-26SaleSelf$15,001 - $50,000Filing #20034327
Rick Allen2026-01-14PurchaseSpouse$15,001 - $50,000Filing #20033945
Valerie Hoyle2025-09-23SaleSpouse$1,001 - $15,000Filing #20032211

All verified SPGI congressional disclosures

Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.

SPGI — frequently asked questions

What does S&P Global Inc. do?

S&P Global provides credit ratings, market data, and financial indices used across capital markets.

What were SPGI's latest reported annual revenue and net income?

For the fiscal year ended December 31, 2025, S&P Global Inc. reported revenue of $15.3B and net income of $4.5B, with operating cash flow of $5.7B. The figures come from S&P Global Inc.'s SEC XBRL filings.

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

The SEC lists S&P Global Inc.'s fiscal year end as December 31.

Do members of Congress trade SPGI?

The current verified House and Senate snapshot contains 17 transaction rows for SPGI, each linked to the original filing.

Is SPGI a good investment?

This page does not rate SPGI as a buy or sell. It sets out what S&P Global Inc. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.

This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.

What do the SPGI numbers leave unanswered?

Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.

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