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S&P Global (SPGI)
NYSE:SPGI
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S&P Global (SPGI) AI Stock Analysis

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SPGI

S&P Global

(NYSE:SPGI)

Rating:76Outperform
Price Target:
$622.00
â–²(15.13% Upside)
S&P Global's overall stock score reflects strong financial performance and positive earnings call highlights, including revenue growth and strategic initiatives. The technical analysis supports a balanced outlook, while the high valuation presents a potential risk. The company's strategic focus on AI and shareholder returns further bolsters its position.
Positive Factors
Earnings Performance
S&P’s second-quarter results came in nicely ahead of expectations across every segment.
Financial Guidance
Full-year revenue growth guidance was raised primarily to reflect better-than-feared issuance in the quarter.
Negative Factors
Commodity Insights Outlook
There is a tempered outlook for Commodity Insights due to demand softness in the Consulting Services portion and expected modest headwinds in Price Assessments from incremental sanctions.
Issuance Decline
Aggregate second quarter issuance fell 7% year-over-year, with corporate issuance down 5% and structured issuance down 12%.

S&P Global (SPGI) vs. SPDR S&P 500 ETF (SPY)

S&P Global Business Overview & Revenue Model

Company DescriptionS&P Global (SPGI) is a leading provider of financial information and analytics, serving a diverse range of clients across various sectors including finance, investment, and corporate management. The company operates through four main segments: Ratings, Market Intelligence, Platts, and S&P Dow Jones Indices. S&P Global Ratings offers credit ratings and research, Market Intelligence provides data and analytics for financial markets, Platts focuses on energy and commodities information, and S&P Dow Jones Indices manages a wide array of market indices that are benchmarks for investment performance.
How the Company Makes MoneyS&P Global generates revenue through multiple key streams. The Ratings segment earns fees from issuing credit ratings to corporations, governments, and other entities, driven by the volume of ratings and ongoing surveillance fees. Market Intelligence derives income from subscriptions to its data and analytics services, which assist clients in making informed investment and business decisions. Platts generates revenue through its pricing services and market reports related to energy and commodities, which are essential for market participants. Lastly, S&P Dow Jones Indices earns licensing fees from investment funds and financial products that track its indices. The company also benefits from strategic partnerships with financial institutions and technology firms, enhancing its data offerings and expanding its client base.

S&P Global Key Performance Indicators (KPIs)

Any
Any
Recurring Revenue as a Percent of Revenue
Recurring Revenue as a Percent of Revenue
Indicates the stability and predictability of income, showcasing the strength of subscription-based or repeat business models.
Chart InsightsS&P Global's recurring revenue remains robust, particularly in the Global Market Intelligence segment, which shows consistent high percentages. The latest earnings call highlights strong revenue growth and margin expansion, driven by AI initiatives and indices performance. However, challenges such as a decline in Billed Issuance and sanctions affecting Commodity Insights could pose risks. The company's strategic focus on AI and data innovations is expected to sustain growth, with anticipated revenue increases and margin improvements throughout the year.
Data provided by:Main Street Data

S&P Global Earnings Call Summary

Earnings Call Date:Jul 31, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Oct 23, 2025
Earnings Call Sentiment Positive
The earnings call reflected a strong overall performance with solid revenue growth across divisions, significant shareholder returns, and advancements in AI. However, there were challenges related to transaction revenue declines in Ratings and some uncertainties in the Commodity Insights and Mobility segments.
Q2-2025 Updates
Positive Updates
Strong Financial Performance
Revenue increased 6% year-over-year, with subscription revenue rising 7%, and a 150 basis points margin expansion on a trailing 12-month basis.
Significant Shareholder Returns
Nearly $950 million was returned to shareholders in the second quarter through dividends and share repurchases.
Market Intelligence Division Success
Market Intelligence saw 7% organic constant currency revenue growth and over 200 basis points of margin expansion.
Advancements in AI and Data Distribution
Introduction of AI-powered products and partnerships with hyperscale partners like Microsoft and Anthropic to expand data distribution.
Private Markets Revenue Growth
Solid growth in private markets revenue, with private credit being a major driver.
Indices Division Performance
Revenue increased 15%, primarily due to strong growth in Asset-Linked Fees and Exchange-Traded Derivative revenue.
Negative Updates
Challenges in Ratings Revenue
Transaction revenue decreased by 4% in the second quarter due to softer demand for bank loan and structured finance ratings.
Uncertainty in Commodity Insights
Some modest headwinds in price assessments due to sanctions and potential revenue decline in Upstream Data & Insights due to customer consolidation.
Tariff-Related Uncertainties in Mobility
Lingering uncertainty around tariffs and manufacturing impacting the Mobility business, though growth was still strong.
Company Guidance
During S&P Global's Second Quarter 2025 earnings call, the company reported a 6% year-over-year increase in revenue, with subscription revenue up by 7%. The Market Intelligence division led growth with a 7% organic constant currency revenue expansion and over 200 basis points of margin improvement. The company achieved 150 basis points of trailing 12-month margin expansion, returning nearly $950 million to shareholders through dividends and share repurchases. S&P Global maintained its guidance for the year, projecting total revenue growth between 5% and 7%, and adjusted diluted EPS in the range of $17 to $17.25, reflecting a 10% year-over-year increase at the high end. The company continues to invest in AI innovations and maintain strong client engagement, as evidenced by a new strategic partnership with Barclays.

S&P Global Financial Statement Overview

Summary
S&P Global demonstrates strong financial performance with high profitability and operational efficiency. The income statement shows robust margins, while the balance sheet reflects financial stability with manageable debt levels. Despite a slight decline in cash flow growth, cash generation remains healthy.
Income Statement
85
Very Positive
S&P Global's income statement shows strong profitability with a consistent increase in revenue over the years. The TTM data indicates a gross profit margin of 69.67% and a net profit margin of 27.30%, reflecting efficient cost management and strong bottom-line performance. The revenue growth rate is modest at 1.42% for the TTM, but the company has shown steady growth over the past years. EBIT and EBITDA margins are robust, indicating strong operational efficiency.
Balance Sheet
78
Positive
The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.36, indicating a conservative leverage approach. The return on equity is healthy at 11.98% for the TTM, showcasing effective use of equity capital. The equity ratio stands at 55.47%, suggesting a strong equity base relative to total assets. Overall, the balance sheet indicates financial stability with manageable debt levels.
Cash Flow
72
Positive
Cash flow analysis reveals a slight decline in free cash flow growth at -2.52% for the TTM, which could be a concern if it persists. However, the operating cash flow to net income ratio is strong at 0.93, indicating good cash generation relative to net income. The free cash flow to net income ratio is also solid at 0.97, suggesting efficient cash conversion. Overall, cash flow remains healthy despite recent growth challenges.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue14.70B14.21B12.50B11.18B8.30B7.44B
Gross Profit10.24B9.82B8.36B7.43B6.12B5.35B
EBITDA7.09B6.78B5.15B6.02B4.46B3.58B
Net Income4.01B3.85B2.63B3.25B3.02B2.34B
Balance Sheet
Total Assets60.40B60.22B60.59B61.78B15.03B12.54B
Cash, Cash Equivalents and Short-Term Investments1.85B1.69B1.32B1.30B6.51B4.12B
Total Debt11.90B11.93B12.00B11.65B4.70B4.75B
Total Liabilities22.43B22.71B22.49B22.04B9.49B9.19B
Stockholders Equity33.50B33.16B34.20B36.48B2.03B509.00M
Cash Flow
Free Cash Flow5.41B5.57B3.57B2.51B3.56B3.49B
Operating Cash Flow5.58B5.69B3.71B2.60B3.60B3.57B
Investing Cash Flow-67.00M-255.00M562.00M3.63B-120.00M-240.00M
Financing Cash Flow-5.75B-5.00B-4.28B-11.33B-1.01B-2.17B

S&P Global Technical Analysis

Technical Analysis Sentiment
Positive
Last Price540.26
Price Trends
50DMA
539.13
Positive
100DMA
519.68
Positive
200DMA
512.09
Positive
Market Momentum
MACD
0.49
Positive
RSI
43.71
Neutral
STOCH
14.36
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPGI, the sentiment is Positive. The current price of 540.26 is below the 20-day moving average (MA) of 552.12, above the 50-day MA of 539.13, and above the 200-day MA of 512.09, indicating a neutral trend. The MACD of 0.49 indicates Positive momentum. The RSI at 43.71 is Neutral, neither overbought nor oversold. The STOCH value of 14.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SPGI.

S&P Global Risk Analysis

S&P Global disclosed 32 risk factors in its most recent earnings report. S&P Global reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

S&P Global Peers Comparison

Overall Rating
UnderperformOutperform
Sector (68)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
81
Outperform
$100.23B33.6110.89%1.07%11.44%29.10%
79
Outperform
$89.43B42.3755.18%0.73%11.47%16.14%
78
Outperform
$53.70B35.9613.28%1.05%23.55%49.91%
77
Outperform
$95.64B25.6913.62%3.96%11.15%13.98%
76
Outperform
$164.75B41.4811.76%0.70%10.72%23.30%
70
Outperform
$43.92B36.70-117.99%1.26%10.48%0.98%
68
Neutral
$18.05B11.7310.24%3.73%9.66%1.70%
* Financial Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SPGI
S&P Global
540.26
33.26
6.56%
CME
CME Group
267.43
56.44
26.75%
ICE
Intercontinental Exchange
174.52
15.82
9.97%
MCO
Moody's
499.76
27.82
5.89%
MSCI
MSCI
557.19
4.08
0.74%
NDAQ
Nasdaq
94.30
23.26
32.74%

S&P Global Corporate Events

Executive/Board ChangesStock BuybackBusiness Operations and StrategyFinancial Disclosures
S&P Global Reports 6% Revenue Increase in Q2 2025
Positive
Jul 31, 2025

On July 31, 2025, S&P Global reported a 6% increase in second-quarter revenue to $3.755 billion, driven by growth in Market Intelligence and S&P Dow Jones Indices. The company announced the appointment of Bill Eager as President of S&P Global Mobility, effective August 15, 2025, as part of the planned separation of Mobility into a standalone public company. The company also plans additional share repurchases and updated its full-year revenue growth guidance to 5%-7%, with a focus on customer engagement and innovation.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 19, 2025