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S&P Global (SPGI) Financials

S&P Global logo
$556.99 -2.14 (-0.38%)
Closing price 03:59 PM Eastern
Extended Trading
$541.50 -15.49 (-2.78%)
As of 08:00 PM Eastern
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Annual Income Statements for S&P Global

Annual Income Statements for S&P Global

This table shows S&P Global's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
-115 1,156 2,106 1,496 1,958 2,123 2,339 3,024 3,248 2,626 3,852
Consolidated Net Income / (Loss)
-13 1,268 2,228 1,638 2,121 2,303 2,534 3,263 3,522 2,893 4,167
Net Income / (Loss) Continuing Operations
-191 1,268 2,228 1,638 2,121 2,303 2,534 3,263 3,522 2,893 4,167
Total Pre-Tax Income
54 1,815 3,188 2,461 2,681 2,930 3,228 4,164 4,702 3,671 5,308
Total Operating Income
113 1,917 3,341 2,583 2,790 3,226 3,617 4,221 4,944 4,020 5,580
Total Gross Profit
3,400 3,595 3,888 4,369 4,420 4,723 5,348 6,117 7,428 8,356 9,817
Total Revenue
5,051 5,313 5,661 6,063 6,258 6,699 7,442 8,297 11,181 12,497 14,208
Operating Revenue
5,051 5,313 5,661 6,063 6,258 6,699 7,442 8,297 11,181 12,497 14,208
Total Cost of Revenue
1,651 1,718 1,773 1,694 1,838 1,976 2,094 2,180 3,753 4,141 4,391
Operating Cost of Revenue
1,651 1,718 1,773 1,694 1,838 1,976 2,094 2,180 3,753 4,141 4,391
Total Operating Expenses
3,287 1,678 547 1,786 1,630 1,497 1,731 1,896 2,511 4,372 4,280
Selling, General & Admin Expense
3,144 1,532 1,467 1,606 1,424 1,342 1,541 1,729 3,396 3,159 3,166
Depreciation Expense
86 90 85 82 84 82 83 82 108 101 96
Amortization Expense
48 67 96 98 122 122 123 96 905 1,042 1,077
Other Operating Expenses / (Income)
- - -1,101 - 0.00 - - -11 -1,898 70 -59
Total Other Income / (Expense), net
-59 -102 -153 -122 -109 -296 -389 -57 -215 -313 -229
Interest Expense
59 102 181 149 134 198 420 119 312 334 297
Interest & Investment Income
- - - - - - 0.00 0.00 27 36 43
Other Income / (Expense), net
- - 28 27 25 -98 31 62 70 -15 25
Income Tax Expense
245 547 960 823 560 627 694 901 1,180 778 1,141
Net Income / (Loss) Attributable to Noncontrolling Interest
102 112 122 142 163 180 195 239 274 267 315
Basic Earnings per Share
($0.42) $4.26 $8.02 $5.84 $7.80 $8.65 $9.71 $12.56 $10.25 $8.25 $12.36
Weighted Average Basic Shares Outstanding
271.50M 271.60M 262.80M 256.30M 250.90M 245.40M 241M 240.80M 316.90M 318.40M 311.60M
Diluted Earnings per Share
($0.42) $4.21 $7.94 $5.78 $7.73 $8.60 $9.66 $12.51 $10.20 $8.23 $12.35
Weighted Average Diluted Shares Outstanding
271.50M 274.60M 265.20M 258.90M 253.20M 246.90M 242.10M 241.80M 318.50M 318.90M 311.90M
Weighted Average Basic & Diluted Shares Outstanding
273.80M 271.40M 0.00 0.00 0.00 0.00 240.70M 0.00 0.00 0.00 0.00
Cash Dividends to Common per Share
$1.20 $1.32 $1.44 $1.64 $2.00 $2.28 $2.68 $3.08 $3.32 - $3.64

Quarterly Income Statements for S&P Global

This table shows S&P Global's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
433 795 511 742 578 991 1,011 971 879 1,090 1,072
Consolidated Net Income / (Loss)
494 860 575 814 644 1,068 1,085 1,047 967 1,171 1,160
Net Income / (Loss) Continuing Operations
494 860 575 814 644 1,068 1,085 1,047 967 1,171 1,160
Total Pre-Tax Income
621 1,048 834 995 794 1,316 1,378 1,360 1,254 1,496 1,502
Total Operating Income
720 1,144 911 1,074 891 1,385 1,452 1,434 1,309 1,578 1,551
Total Gross Profit
1,930 2,072 2,075 2,089 2,120 2,380 2,471 2,503 2,479 2,624 2,636
Total Revenue
2,938 3,160 3,101 3,084 3,152 3,491 3,549 3,575 3,593 3,777 3,755
Operating Revenue
2,938 3,160 3,101 3,084 3,152 3,491 3,549 3,575 3,593 3,777 3,755
Total Cost of Revenue
1,008 1,088 1,026 995 1,032 1,111 1,078 1,072 1,114 1,153 1,119
Operating Cost of Revenue
1,008 1,088 1,026 995 1,032 1,111 1,078 1,072 1,114 1,153 1,119
Total Operating Expenses
1,220 942 1,175 1,023 1,232 1,001 1,032 1,080 1,183 1,057 1,096
Selling, General & Admin Expense
945 705 771 741 942 714 741 808 919 764 803
Depreciation Expense
15 25 24 22 30 23 25 22 26 25 26
Amortization Expense
260 262 261 260 259 264 266 271 276 268 270
Other Operating Expenses / (Income)
- -50 119 0.00 1.00 - 0.00 -21 -38 - -3.00
Total Other Income / (Expense), net
-89 -82 -66 -71 -94 -63 -61 -63 -42 -71 -38
Interest Expense
79 85 88 84 77 78 77 72 70 78 77
Interest & Investment Income
7.00 14 11 8.00 3.00 6.00 13 11 13 11 11
Other Income / (Expense), net
-17 -11 11 5.00 -20 9.00 3.00 -2.00 15 -4.00 28
Income Tax Expense
127 188 259 181 150 248 293 313 287 325 342
Net Income / (Loss) Attributable to Noncontrolling Interest
61 65 64 72 66 77 74 76 88 81 88
Basic Earnings per Share
$1.05 $2.47 $1.60 $2.34 $1.84 $3.16 $3.23 $3.12 $2.85 $3.55 $3.50
Weighted Average Basic Shares Outstanding
316.90M 321.30M 319.30M 317.50M 318.40M 313.60M 313M 311.20M 311.60M 307.30M 305.90M
Diluted Earnings per Share
$1.03 $2.47 $1.60 $2.33 $1.83 $3.16 $3.23 $3.11 $2.85 $3.54 $3.50
Weighted Average Diluted Shares Outstanding
318.50M 322.10M 319.80M 318M 318.90M 314M 313.20M 311.50M 311.90M 307.70M 306.10M
Weighted Average Basic & Diluted Shares Outstanding
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Dividends to Common per Share
- $0.90 $0.90 $0.90 - $0.91 $0.91 $0.91 - $0.96 $0.96

Annual Cash Flow Statements for S&P Global

This table details how cash moves in and out of S&P Global's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
955 -857 911 300 -821 928 1,236 2,383 -5,218 4.00 375
Net Cash From Operating Activities
1,209 227 1,560 2,016 2,064 2,776 3,567 3,598 2,603 3,710 5,689
Net Cash From Continuing Operating Activities
1,209 356 1,560 2,020 2,064 2,776 3,567 3,598 2,603 3,710 5,689
Net Income / (Loss) Continuing Operations
-191 1,268 2,228 1,638 2,121 2,303 2,534 3,263 3,522 2,893 4,167
Consolidated Net Income / (Loss)
-13 1,268 2,228 1,638 2,121 2,303 2,534 3,263 3,522 2,893 4,167
Depreciation Expense
86 90 85 82 84 82 83 82 108 101 96
Amortization Expense
48 67 96 98 122 122 123 96 905 1,042 1,077
Non-Cash Adjustments To Reconcile Net Income
156 132 -986 211 60 481 580 412 -1,304 867 659
Changes in Operating Assets and Liabilities, net
1,110 -1,201 137 -9.00 -323 -212 247 -255 -628 -1,193 -310
Net Cash From Investing Activities
-65 -2,525 1,171 -209 -513 -131 -240 -120 3,628 562 -255
Net Cash From Continuing Investing Activities
-65 -2,525 1,171 -209 -513 -131 -240 -120 3,628 562 -255
Purchase of Property, Plant & Equipment
-92 -139 -115 -123 -113 -115 -76 -35 -89 -143 -124
Acquisitions
-71 -2,396 -177 -83 -401 -91 -201 -99 210 -296 -305
Purchase of Investments
15 -4.00 -1.00 -5.00 -5.00 -10 19 -2.00 -2.00 -13 6.00
Divestitures
- - - - - - - - 3,509 1,014 168
Net Cash From Financing Activities
-462 1,441 -1,662 -1,507 -2,288 -1,751 -2,166 -1,013 -11,326 -4,280 -4,998
Net Cash From Continuing Financing Activities
-462 1,349 -1,662 -1,507 -2,288 -1,751 -2,166 -1,013 -11,326 -4,280 -4,998
Repayment of Debt
0.00 143 -564 0.00 -403 -868 -1,394 0.00 -3,730 -188 -47
Repurchase of Common Equity
-362 -974 -1,123 -1,001 -1,685 -1,240 -1,164 0.00 -12,004 -3,301 -3,301
Payment of Dividends
-410 -467 -496 -532 -657 -703 -839 -970 -1,294 -1,427 -1,421
Issuance of Debt
0.00 2,674 493 0.00 489 1,086 1,276 0.00 5,395 744 0.00
Issuance of Common Equity
- - - - - - 0.00 0.00 410 0.00 0.00
Other Financing Activities, net
310 65 28 26 -32 -26 -45 -43 -103 -108 -229
Effect of Exchange Rate Changes
-65 - -158 - -84 34 75 -82 -123 12 -61
Cash Interest Paid
50 65 150 139 151 162 159 130 240 369 391
Cash Income Taxes Paid
419 260 683 709 558 659 683 883 1,555 1,279 1,159

Quarterly Cash Flow Statements for S&P Global

This table details how cash moves in and out of S&P Global's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
-102 118 157 84 -355 253 495 -342 -31 -197 378
Net Cash From Operating Activities
1,113 594 769 1,013 1,334 948 1,556 1,445 1,740 953 1,445
Net Cash From Continuing Operating Activities
1,113 594 769 1,013 1,334 948 1,556 1,445 1,740 953 1,445
Net Income / (Loss) Continuing Operations
494 860 575 814 644 1,068 1,086 1,046 967 1,171 1,160
Consolidated Net Income / (Loss)
494 860 575 814 644 1,068 1,086 1,046 967 1,171 1,160
Depreciation Expense
15 25 24 22 30 23 25 22 26 25 26
Amortization Expense
260 262 260 260 260 264 267 272 274 268 269
Non-Cash Adjustments To Reconcile Net Income
151 75 147 89 556 213 87 -39 482 297 59
Changes in Operating Assets and Liabilities, net
193 -628 -237 -172 -156 -620 91 144 -9.00 -808 -69
Net Cash From Investing Activities
-61 -253 909 -49 -45 -20 -299 57 7.00 -79 -52
Net Cash From Continuing Investing Activities
-61 -253 909 -49 -45 -20 -299 57 7.00 -79 -52
Purchase of Property, Plant & Equipment
-28 -28 -31 -36 -48 -24 -32 -35 -33 -43 -61
Acquisitions
-32 -272 -14 -7.00 -3.00 -1.00 -260 -3.00 -41 -13 -12
Purchase of Investments
- -3.00 2.00 -8.00 -4.00 5.00 -3.00 -3.00 7.00 -23 6.00
Net Cash From Financing Activities
-1,198 -230 -1,517 -855 -1,678 -657 -748 -1,875 -1,718 -1,103 -1,059
Net Cash From Continuing Financing Activities
-1,198 -230 -1,517 -855 -1,678 -657 -748 -1,875 -1,718 -1,103 -1,059
Repurchase of Common Equity
-1,001 -500 -1,001 -500 -1,300 -500 - -1,501 -1,300 -650 -651
Payment of Dividends
-348 -368 -350 -357 -352 -359 -346 -362 -354 -389 -368
Other Financing Activities, net
-22 -72 -8.00 -2.00 -26 -48 -105 -12 -64 -60 -40
Effect of Exchange Rate Changes
44 7.00 -4.00 -25 34 -18 -14 31 -60 32 44

Annual Balance Sheets for S&P Global

This table presents S&P Global's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
6,773 8,183 8,669 9,425 9,441 11,348 12,537 15,026 61,784 60,589 60,221
Total Current Assets
3,962 3,296 3,671 4,324 3,587 4,712 5,988 8,810 5,667 5,143 5,459
Cash & Equivalents
2,497 1,481 2,392 2,777 1,917 2,866 4,108 6,497 1,286 1,290 1,666
Restricted Cash
- - - 2.00 41 20 14 8.00 1.00 1.00 0.00
Accounts Receivable
932 991 1,122 1,319 1,449 1,577 1,593 1,650 2,494 2,826 2,867
Prepaid Expenses
170 206 149 214 162 221 264 323 574 1,000 926
Plant, Property, & Equipment, net
206 270 271 275 270 320 284 241 297 258 265
Total Noncurrent Assets
2,605 4,617 4,727 4,826 5,584 6,316 6,265 5,975 55,820 55,188 54,497
Long-Term Investments
- - - - - - - 165 1,752 1,787 1,774
Goodwill
1,387 2,882 2,949 2,989 3,535 3,575 3,735 3,506 34,545 34,850 34,917
Intangible Assets
1,004 1,522 1,506 1,388 1,524 1,424 1,352 1,285 18,306 17,398 16,556
Other Noncurrent Operating Assets
186 213 272 449 525 1,317 881 660 985 915 1,250
Total Liabilities & Shareholders' Equity
6,773 8,183 8,669 9,425 9,441 11,348 12,537 15,026 61,784 60,589 60,221
Total Liabilities
5,424 7,020 6,888 7,307 7,137 8,544 9,185 9,490 22,040 22,489 22,713
Total Current Liabilities
3,920 2,908 2,611 3,214 2,630 3,093 3,587 3,815 5,999 6,125 6,392
Short-Term Debt
0.00 143 0.00 399 - - - 0.00 226 47 4.00
Accounts Payable
191 206 183 195 211 190 233 205 450 557 553
Current Deferred Revenue
1,254 1,421 1,509 1,613 1,641 1,928 2,168 2,217 3,126 3,461 3,694
Current Deferred & Payable Income Tax Liabilities
54 56 95 77 73 68 84 90 116 121 199
Current Employee Benefit Liabilities
410 383 409 472 354 446 551 607 753 906 1,073
Other Current Liabilities
402 372 359 351 351 461 551 547 1,094 1,033 869
Total Noncurrent Liabilities
1,504 4,112 4,277 4,093 4,507 5,451 5,598 5,675 16,041 16,364 16,321
Long-Term Debt
795 3,468 3,564 3,170 3,662 3,948 4,110 4,114 10,730 11,412 11,394
Noncurrent Deferred & Payable Income Tax Liabilities
40 - - - - - - 147 4,065 3,690 3,397
Noncurrent Employee Benefit Liabilities
333 276 274 244 229 259 291 262 180 199 180
Other Noncurrent Operating Liabilities
336 368 439 679 616 1,244 1,197 1,152 1,066 1,063 1,350
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
810 920 1,080 1,352 1,620 2,268 2,781 3,429 3,267 3,800 4,252
Total Equity & Noncontrolling Interests
539 243 701 766 684 536 571 2,107 36,477 34,300 33,256
Total Preferred & Common Equity
488 194 650 709 628 479 509 2,032 36,388 34,200 33,159
Total Common Equity
488 194 650 709 628 479 509 2,032 36,388 34,200 33,159
Common Stock
905 887 914 937 1,127 1,197 1,240 1,325 44,837 44,646 44,736
Retained Earnings
6,946 7,636 9,210 10,023 11,284 12,205 13,367 15,017 17,784 18,728 20,977
Accumulated Other Comprehensive Income / (Loss)
-514 -600 -773 -649 -742 -624 -637 -841 -886 -763 -883
Other Equity Adjustments
- - - - - - - - - -28,411 -31,671
Noncontrolling Interest
51 49 51 57 56 57 62 75 89 100 97

Quarterly Balance Sheets for S&P Global

This table presents S&P Global's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets
61,784 62,024 60,695 60,561 60,589 60,477 60,956 60,368 60,221 59,889 60,395
Total Current Assets
5,667 5,822 4,720 4,804 5,143 5,428 5,642 5,202 5,459 5,340 5,877
Cash & Equivalents
1,286 1,402 1,561 1,645 1,290 1,543 2,038 1,696 1,666 1,469 1,847
Restricted Cash
1.00 3.00 1.00 1.00 1.00 1.00 1.00 1.00 0.00 0.00 0.00
Accounts Receivable
2,494 2,478 2,545 2,547 2,826 2,979 2,709 2,635 2,867 3,081 2,979
Prepaid Expenses
574 626 613 611 1,000 845 832 832 906 790 1,051
Plant, Property, & Equipment, net
297 281 258 254 258 247 248 252 265 266 275
Total Noncurrent Assets
55,820 55,921 55,717 55,503 55,188 54,802 55,066 54,914 54,497 54,283 54,243
Long-Term Investments
1,752 1,750 1,792 1,791 1,787 1,775 1,795 1,800 1,774 1,785 1,846
Goodwill
34,545 34,817 34,827 34,785 34,850 34,748 34,975 34,991 34,917 34,961 35,072
Intangible Assets
18,306 18,168 17,912 17,635 17,398 17,120 17,099 16,848 16,556 16,306 16,078
Other Noncurrent Operating Assets
985 1,186 1,186 1,292 915 1,159 1,197 1,275 1,004 1,231 1,247
Total Liabilities & Shareholders' Equity
61,784 62,024 60,695 60,561 60,589 60,477 60,956 60,368 60,221 59,889 60,395
Total Liabilities
22,040 22,252 21,626 21,537 22,489 22,228 21,972 21,977 22,713 22,164 22,434
Total Current Liabilities
5,999 6,394 6,030 5,218 6,125 5,877 5,500 5,505 6,392 5,920 5,982
Short-Term Debt
226 936 825 47 47 301 4.00 4.00 4.00 3.00 3.00
Accounts Payable
450 456 488 458 557 458 477 475 553 525 532
Current Deferred Revenue
3,126 3,175 3,148 3,022 3,461 3,535 3,406 3,288 3,694 3,891 3,871
Current Deferred & Payable Income Tax Liabilities
116 219 127 59 121 179 180 188 199 228 198
Current Employee Benefit Liabilities
753 385 507 655 906 419 583 823 1,073 426 582
Other Current Liabilities
1,094 971 935 977 1,033 975 837 720 869 847 796
Total Noncurrent Liabilities
16,041 15,858 15,596 16,319 16,364 16,351 16,472 16,472 16,321 16,244 16,452
Long-Term Debt
10,730 10,727 10,676 11,415 11,412 11,404 11,401 11,398 11,394 11,388 11,385
Noncurrent Deferred & Payable Income Tax Liabilities
4,065 3,906 3,693 3,671 3,690 3,631 3,540 3,415 3,397 3,319 3,175
Noncurrent Employee Benefit Liabilities
180 183 185 183 199 197 196 199 180 182 188
Other Noncurrent Operating Liabilities
1,066 1,042 1,042 1,050 1,063 1,119 1,335 1,460 1,350 1,355 1,704
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
3,267 3,402 3,510 3,510 3,800 3,825 4,014 4,305 4,252 4,252 4,465
Total Equity & Noncontrolling Interests
36,477 36,370 35,559 35,514 34,300 34,424 34,970 34,086 33,256 33,473 33,496
Total Preferred & Common Equity
36,388 36,275 35,468 35,419 34,200 34,327 34,881 33,992 33,159 33,371 33,390
Total Common Equity
36,388 36,275 35,468 35,419 34,200 34,327 34,881 33,992 33,159 33,371 33,390
Common Stock
44,837 44,744 44,708 44,854 44,646 44,710 44,822 44,688 44,736 44,774 44,807
Retained Earnings
17,784 18,171 18,279 18,725 18,728 19,433 19,957 20,364 20,977 21,799 22,402
Accumulated Other Comprehensive Income / (Loss)
-886 -861 -813 -846 -763 -825 -839 -714 -883 -826 -795
Other Equity Adjustments
- -25,779 -26,706 -27,314 -28,411 -28,991 -29,059 -30,346 - -32,376 -33,024
Noncontrolling Interest
89 95 91 95 100 97 89 94 97 102 106

Annual Metrics And Ratios for S&P Global

This table displays calculated financial ratios and metrics derived from S&P Global's official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
7.42% 5.19% 6.55% 7.10% 3.22% 7.05% 11.09% 11.49% 34.76% 11.77% 13.69%
EBITDA Growth
-83.48% 739.68% 71.17% -21.41% 8.28% 10.29% 15.67% 15.75% 35.10% -14.58% 31.66%
EBIT Growth
-91.68% 1,596.46% 75.74% -22.53% 7.85% 11.12% 16.62% 17.41% 17.07% -20.12% 39.95%
NOPAT Growth
-143.74% 435.08% 74.34% -26.37% 28.39% 14.88% 11.98% 16.49% 11.96% -14.45% 38.27%
Net Income Growth
-100.89% 9,853.85% 75.71% -26.48% 29.49% 8.58% 10.03% 28.77% 7.94% -17.86% 44.04%
EPS Growth
-108.55% 1,102.38% 88.60% -27.20% 33.74% 11.25% 12.33% 29.50% -18.47% -19.31% 50.06%
Operating Cash Flow Growth
54.60% -81.22% 587.22% 29.23% 2.38% 34.50% 28.49% 0.87% -27.65% 42.53% 53.34%
Free Cash Flow Firm Growth
201.90% -253.62% 218.60% -25.70% -37.04% 141.43% 24.51% 5.21% -1,266.25% 111.19% 17.32%
Invested Capital Growth
-126.37% 939.89% -1.51% -1.66% 37.78% -3.81% -13.21% -6.39% 1,435.63% -2.98% -2.17%
Revenue Q/Q Growth
3.50% 1.61% 0.44% 3.22% -0.82% 3.06% 1.81% 2.74% 8.23% 1.74% 3.20%
EBITDA Q/Q Growth
-84.98% 331.19% 13.75% -5.97% 3.04% 3.51% -3.77% 5.46% 0.38% 3.69% 7.33%
EBIT Q/Q Growth
-92.52% 457.27% 14.79% -6.32% 2.93% 3.89% -4.00% 5.99% -4.04% 4.38% 8.79%
NOPAT Q/Q Growth
-140.06% 14,527.29% 14.05% -13.69% 13.09% 3.11% -4.61% 7.48% -4.63% 4.96% 7.03%
Net Income Q/Q Growth
-101.30% 645.88% 15.14% -14.20% 13.48% 1.54% -3.10% 7.65% -6.45% 5.47% 8.40%
EPS Q/Q Growth
-112.80% 1,654.17% 16.59% -15.00% 15.03% 2.14% -3.30% 7.84% -14.72% 10.77% 9.00%
Operating Cash Flow Q/Q Growth
7.37% 273.28% -24.75% 33.86% -6.78% 14.00% 3.99% -5.29% 7.12% 6.33% 7.69%
Free Cash Flow Firm Q/Q Growth
74.72% 11.04% -10.40% 8.15% -18.19% 18.70% 7.20% -5.40% -0.84% 18.52% 11.38%
Invested Capital Q/Q Growth
-127.45% -16.06% -0.27% -12.51% 2.28% -6.30% -15.69% -5.72% -0.05% -1.26% -1.85%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
67.79% 67.66% 68.68% 72.06% 70.63% 70.50% 71.86% 73.73% 66.43% 66.86% 69.09%
EBITDA Margin
4.89% 39.04% 62.71% 46.02% 48.27% 49.74% 51.79% 53.77% 53.90% 41.19% 47.71%
Operating Margin
2.24% 36.08% 59.02% 42.60% 44.58% 48.16% 48.60% 50.87% 44.22% 32.17% 39.27%
EBIT Margin
2.24% 36.08% 59.51% 43.05% 44.98% 46.69% 49.02% 51.62% 44.84% 32.05% 39.45%
Profit (Net Income) Margin
-0.26% 23.87% 39.36% 27.02% 33.89% 34.38% 34.05% 39.33% 31.50% 23.15% 29.33%
Tax Burden Percent
-24.07% 69.86% 69.89% 66.56% 79.11% 78.60% 78.50% 78.36% 74.90% 78.81% 78.50%
Interest Burden Percent
47.79% 94.68% 94.63% 94.29% 95.24% 93.67% 88.49% 97.22% 93.78% 91.66% 94.70%
Effective Tax Rate
453.70% 30.14% 30.11% 33.44% 20.89% 21.40% 21.50% 21.64% 25.10% 21.19% 21.50%
Return on Invested Capital (ROIC)
-80.42% 101.69% 78.68% 58.87% 64.11% 64.78% 79.21% 102.58% 14.52% 6.72% 9.53%
ROIC Less NNEP Spread (ROIC-NNEP)
-111.24% -15.13% 71.53% 50.50% 57.11% 47.68% 18.92% 106.24% 8.18% 3.38% 6.91%
Return on Net Nonoperating Assets (RNNOA)
79.68% -0.73% 72.68% 25.15% 31.82% 25.39% 3.11% -29.15% 1.03% 0.72% 1.49%
Return on Equity (ROE)
-0.74% 100.96% 151.36% 84.02% 95.93% 90.17% 82.33% 73.42% 15.56% 7.43% 11.02%
Cash Return on Invested Capital (CROIC)
0.00% -67.12% 80.20% 60.54% 32.33% 68.67% 93.36% 109.18% -161.02% 9.74% 11.73%
Operating Return on Assets (OROA)
1.76% 25.64% 39.98% 28.85% 29.84% 30.09% 30.55% 31.08% 13.06% 6.55% 9.28%
Return on Assets (ROA)
-0.20% 16.96% 26.44% 18.11% 22.48% 22.16% 21.22% 23.68% 9.17% 4.73% 6.90%
Return on Common Equity (ROCE)
-0.38% 27.41% 43.39% 29.29% 29.00% 19.54% 13.21% 20.99% 13.20% 6.74% 9.82%
Return on Equity Simple (ROE_SIMPLE)
-2.66% 653.61% 342.77% 231.03% 337.74% 480.79% 497.84% 160.58% 9.68% 8.46% 12.57%
Net Operating Profit after Tax (NOPAT)
-400 1,339 2,335 1,719 2,207 2,536 2,839 3,308 3,703 3,168 4,381
NOPAT Margin
-7.91% 25.21% 41.25% 28.36% 35.27% 37.85% 38.15% 39.87% 33.12% 25.35% 30.83%
Net Nonoperating Expense Percent (NNEP)
30.82% 116.82% 7.15% 8.36% 7.00% 17.11% 60.29% -3.66% 6.34% 3.34% 2.62%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - - 7.81% 6.92% 9.81%
Cost of Revenue to Revenue
32.21% 32.34% 31.32% 27.94% 29.37% 29.50% 28.14% 26.27% 33.57% 33.14% 30.91%
SG&A Expenses to Revenue
62.72% 28.83% 25.91% 26.49% 22.75% 20.03% 20.71% 20.84% 30.37% 25.28% 22.28%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
65.55% 31.58% 9.66% 29.46% 26.05% 22.35% 23.26% 22.85% 22.46% 34.98% 30.12%
Earnings before Interest and Taxes (EBIT)
113 1,917 3,369 2,610 2,815 3,128 3,648 4,283 5,014 4,005 5,605
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
247 2,074 3,550 2,790 3,021 3,332 3,854 4,461 6,027 5,148 6,778
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
46.13 126.30 39.95 57.42 64.66 134.00 150.70 54.71 2.95 4.05 4.66
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
4.46 4.61 4.59 6.71 6.49 9.58 10.31 13.40 9.59 11.08 10.88
Price to Earnings (P/E)
0.00 21.20 12.33 27.21 20.74 30.23 32.79 36.76 33.02 52.73 40.12
Dividend Yield
1.45% 1.46% 1.44% 1.03% 1.24% 0.87% 0.84% 0.67% 1.01% 0.82% 0.73%
Earnings Yield
-0.51% 4.72% 8.11% 3.67% 4.82% 3.31% 3.05% 2.72% 3.03% 1.90% 2.49%
Enterprise Value to Invested Capital (EV/IC)
0.00 9.23 9.60 14.81 11.02 17.60 23.88 35.95 2.47 3.24 3.67
Enterprise Value to Revenue (EV/Rev)
4.29 5.19 4.99 7.08 7.03 10.08 10.69 13.51 10.60 12.06 11.74
Enterprise Value to EBITDA (EV/EBITDA)
87.73 13.31 7.96 15.38 14.55 20.27 20.64 25.13 19.66 29.28 24.61
Enterprise Value to EBIT (EV/EBIT)
191.76 14.39 8.39 16.44 15.62 21.59 21.80 26.17 23.63 37.64 29.76
Enterprise Value to NOPAT (EV/NOPAT)
0.00 20.60 12.10 24.95 19.92 26.64 28.01 33.89 32.00 47.58 38.08
Enterprise Value to Operating Cash Flow (EV/OCF)
17.92 121.56 18.12 21.28 21.30 24.33 22.30 31.16 45.53 40.63 29.32
Enterprise Value to Free Cash Flow (EV/FCFF)
16.59 0.00 11.87 24.26 39.50 25.13 23.77 31.84 0.00 32.81 30.95
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.59 3.10 2.00 1.69 1.59 1.41 1.23 0.74 0.28 0.30 0.30
Long-Term Debt to Equity
0.59 2.98 2.00 1.50 1.59 1.41 1.23 0.74 0.27 0.30 0.30
Financial Leverage
-0.72 0.05 1.02 0.50 0.56 0.53 0.16 -0.27 0.13 0.21 0.22
Leverage Ratio
3.66 5.95 5.72 4.64 4.27 4.07 3.88 3.10 1.70 1.57 1.60
Compound Leverage Factor
1.75 5.64 5.42 4.38 4.06 3.81 3.43 3.02 1.59 1.44 1.51
Debt to Total Capital
37.08% 75.64% 66.68% 62.76% 61.38% 58.47% 55.08% 42.63% 21.61% 23.12% 23.31%
Short-Term Debt to Total Capital
0.00% 3.00% 0.00% 7.02% 0.00% 0.00% 0.00% 0.00% 0.45% 0.09% 0.01%
Long-Term Debt to Total Capital
37.08% 72.64% 66.68% 55.74% 61.38% 58.47% 55.08% 42.63% 21.16% 23.03% 23.30%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
40.16% 20.30% 21.16% 24.78% 28.09% 34.43% 38.10% 36.31% 6.62% 7.87% 8.89%
Common Equity to Total Capital
22.76% 4.06% 12.16% 12.47% 10.53% 7.09% 6.82% 21.06% 71.77% 69.01% 67.80%
Debt to EBITDA
3.22 1.74 1.00 1.28 1.21 1.18 1.07 0.92 1.82 2.23 1.68
Net Debt to EBITDA
-6.90 1.02 0.33 0.28 0.56 0.31 -0.01 -0.58 1.31 1.62 1.17
Long-Term Debt to EBITDA
3.22 1.67 1.00 1.14 1.21 1.18 1.07 0.92 1.78 2.22 1.68
Debt to NOPAT
-1.99 2.70 1.53 2.08 1.66 1.56 1.45 1.24 2.96 3.62 2.60
Net Debt to NOPAT
4.27 1.59 0.50 0.45 0.76 0.41 -0.01 -0.78 2.13 2.64 1.81
Long-Term Debt to NOPAT
-1.99 2.59 1.53 1.84 1.66 1.56 1.45 1.24 2.90 3.60 2.60
Altman Z-Score
4.73 4.88 5.83 6.53 6.86 7.68 8.29 10.32 3.76 4.53 5.09
Noncontrolling Interest Sharing Ratio
48.93% 72.85% 71.33% 65.14% 69.76% 78.33% 83.95% 71.41% 15.15% 9.32% 10.91%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
1.01 1.13 1.41 1.35 1.36 1.52 1.67 2.31 0.94 0.84 0.85
Quick Ratio
0.88 0.85 1.35 1.28 1.29 1.45 1.59 2.14 0.63 0.68 0.71
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
1,306 -2,007 2,380 1,768 1,113 2,688 3,346 3,521 -41,060 4,594 5,390
Operating Cash Flow to CapEx
13,433.33% 181.60% 0.00% 1,666.12% 1,928.97% 9,253.33% 6,150.00% 18,936.84% 2,924.72% 2,594.41% 4,587.90%
Free Cash Flow to Firm to Interest Expense
22.14 -19.67 13.15 11.87 8.31 13.57 7.97 29.59 -131.60 13.75 18.15
Operating Cash Flow to Interest Expense
20.49 2.23 8.62 13.53 15.40 14.02 8.49 30.24 8.34 11.11 19.15
Operating Cash Flow Less CapEx to Interest Expense
20.34 1.00 16.26 12.72 14.60 13.87 8.35 30.08 8.06 10.68 18.74
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.79 0.71 0.67 0.67 0.66 0.64 0.62 0.60 0.29 0.20 0.24
Accounts Receivable Turnover
5.37 5.53 5.36 4.97 4.52 4.43 4.70 5.12 5.40 4.70 4.99
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
22.20 22.32 20.93 22.21 22.97 22.71 24.64 31.61 41.57 45.03 54.33
Accounts Payable Turnover
8.11 8.65 9.12 8.96 9.05 9.86 9.90 9.95 11.46 8.22 7.91
Days Sales Outstanding (DSO)
67.96 66.05 68.12 73.48 80.72 82.44 77.74 71.33 67.64 77.69 73.13
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
44.98 42.17 40.04 40.72 40.31 37.04 36.87 36.67 31.85 44.38 46.13
Cash Conversion Cycle (CCC)
22.98 23.88 28.08 32.75 40.41 45.40 40.87 34.67 35.79 33.31 26.99
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
-356 2,990 2,945 2,896 3,990 3,838 3,331 3,118 47,881 46,455 45,446
Invested Capital Turnover
10.16 4.03 1.91 2.08 1.82 1.71 2.08 2.57 0.44 0.26 0.31
Increase / (Decrease) in Invested Capital
-1,706 3,346 -45 -49 1,094 -152 -507 -213 44,763 -1,426 -1,009
Enterprise Value (EV)
21,669 27,595 28,260 42,898 43,969 67,544 79,529 112,104 118,501 150,733 166,826
Market Capitalization
22,513 24,502 25,965 40,711 40,607 64,185 76,707 111,167 107,242 138,478 154,539
Book Value per Share
$1.80 $0.72 $2.51 $2.78 $2.50 $1.96 $2.12 $8.43 $111.69 $107.95 $106.86
Tangible Book Value per Share
($7.01) ($15.58) ($14.69) ($14.38) ($17.66) ($18.49) ($19.03) ($11.45) ($50.53) ($56.97) ($59.02)
Total Capital
2,144 4,774 5,345 5,687 5,966 6,752 7,462 9,650 50,700 49,559 48,906
Total Debt
795 3,611 3,564 3,569 3,662 3,948 4,110 4,114 10,956 11,459 11,398
Total Long-Term Debt
795 3,468 3,564 3,170 3,662 3,948 4,110 4,114 10,730 11,412 11,394
Net Debt
-1,705 2,124 1,164 778 1,686 1,034 -21 -2,567 7,903 8,355 7,938
Capital Expenditures (CapEx)
9.00 125 -1,383 121 107 30 58 19 89 143 124
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-2,458 -956 -1,340 -1,282 -1,019 -1,295 -1,730 -1,521 -1,407 -2,252 -2,615
Debt-free Net Working Capital (DFNWC)
42 531 1,060 1,509 957 1,619 2,401 4,995 -106 -935 -929
Net Working Capital (NWC)
42 388 1,060 1,110 957 1,619 2,401 4,995 -332 -982 -933
Net Nonoperating Expense (NNE)
-387 71 107 81 86 233 305 45 181 275 214
Net Nonoperating Obligations (NNO)
-1,705 1,827 1,164 778 1,686 1,034 -21 -2,418 8,137 8,355 7,938
Total Depreciation and Amortization (D&A)
134 157 181 180 206 204 206 178 1,013 1,143 1,173
Debt-free, Cash-free Net Working Capital to Revenue
-48.66% -17.99% -23.67% -21.14% -16.28% -19.33% -23.25% -18.33% -12.58% -18.02% -18.41%
Debt-free Net Working Capital to Revenue
0.83% 9.99% 18.72% 24.89% 15.29% 24.17% 32.26% 60.20% -0.95% -7.48% -6.54%
Net Working Capital to Revenue
0.83% 7.30% 18.72% 18.31% 15.29% 24.17% 32.26% 60.20% -2.97% -7.86% -6.57%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
($0.42) $4.26 $8.02 $5.84 $7.80 $8.65 $9.71 $12.56 $10.25 $8.25 $12.36
Adjusted Weighted Average Basic Shares Outstanding
271.50M 271.60M 262.80M 256.30M 250.90M 245.40M 241M 240.80M 316.90M 318.40M 311.60M
Adjusted Diluted Earnings per Share
($0.42) $4.21 $7.94 $5.78 $7.73 $8.60 $9.66 $12.51 $10.20 $8.23 $12.35
Adjusted Weighted Average Diluted Shares Outstanding
271.50M 274.60M 265.20M 258.90M 253.20M 246.90M 242.10M 241.80M 318.50M 318.90M 311.90M
Adjusted Basic & Diluted Earnings per Share
($0.42) $0.00 $0.00 $0.00 $0.00 $8.65 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
273.81M 265.30M 258.40M 253.90M 0.00 243.80M 240.70M 241.10M 322M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)
79 1,332 2,335 1,719 2,207 2,497 2,827 3,308 3,703 3,168 4,381
Normalized NOPAT Margin
1.57% 25.06% 41.25% 28.36% 35.27% 37.28% 37.98% 39.87% 33.12% 25.35% 30.83%
Pre Tax Income Margin
1.07% 34.16% 56.32% 40.59% 42.84% 43.74% 43.38% 50.19% 42.05% 29.38% 37.36%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
1.92 18.79 18.61 17.52 21.01 15.80 8.69 35.99 16.07 11.99 18.87
NOPAT to Interest Expense
-6.77 13.13 12.90 11.54 16.47 12.81 6.76 27.80 11.87 9.49 14.75
EBIT Less CapEx to Interest Expense
1.76 17.57 26.25 16.70 20.21 15.65 8.55 35.83 15.79 11.56 18.45
NOPAT Less CapEx to Interest Expense
-6.93 11.90 20.54 10.73 15.67 12.65 6.62 27.64 11.58 9.06 14.33
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
-3,153.85% 36.83% 22.26% 32.48% 30.98% 30.53% 33.11% 29.73% 36.74% 49.33% 34.10%
Augmented Payout Ratio
-5,938.46% 113.64% 72.67% 93.59% 110.42% 84.37% 79.05% 29.73% 377.57% 163.43% 113.32%

Quarterly Metrics And Ratios for S&P Global

This table displays calculated financial ratios and metrics derived from S&P Global's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
40.71% 32.27% 3.61% 7.79% 7.28% 10.47% 14.45% 15.92% 13.99% 8.19% 5.80%
EBITDA Growth
2.41% -31.57% -32.51% 14.66% 18.71% 18.38% 44.86% 26.82% 39.88% 11.06% 7.27%
EBIT Growth
-23.09% -41.54% -37.83% 21.24% 23.90% 23.04% 57.81% 32.72% 52.01% 12.91% 8.52%
NOPAT Growth
-23.40% -28.57% -43.91% 25.03% 26.18% 19.73% 82.02% 25.65% 39.68% 9.89% 4.77%
Net Income Growth
-32.97% -33.80% -45.29% 20.06% 30.36% 24.19% 88.70% 28.62% 50.16% 9.64% 6.91%
EPS Growth
-63.08% -44.74% -44.06% 26.63% 77.67% 27.94% 101.88% 33.48% 55.74% 12.03% 8.36%
Operating Cash Flow Growth
18.40% 167.57% 69.38% 24.45% 19.86% 59.60% 102.34% 42.65% 30.43% 0.53% -7.13%
Free Cash Flow Firm Growth
-4,699.48% 102.40% 103.59% 103.96% 104.86% 186.28% 14.09% 6.53% -6.06% -32.97% 17.79%
Invested Capital Growth
1,435.63% -0.23% -1.96% -1.79% -2.98% -3.89% -1.37% -1.59% -2.17% -1.68% -1.96%
Revenue Q/Q Growth
2.69% 7.56% -1.87% -0.55% 2.20% 10.76% 1.66% 0.73% 0.50% 5.12% -0.58%
EBITDA Q/Q Growth
-17.61% 45.19% -15.07% 12.85% -14.70% 44.79% 3.93% -1.20% -5.91% 14.96% 0.37%
EBIT Q/Q Growth
-21.01% 61.17% -18.62% 17.03% -19.28% 60.05% 4.38% -1.58% -7.54% 18.88% 0.32%
NOPAT Q/Q Growth
-18.49% 63.91% -33.10% 39.89% -17.75% 55.53% 1.71% -3.44% -8.57% 22.37% -3.02%
Net Income Q/Q Growth
-27.14% 74.09% -33.14% 41.57% -20.88% 65.84% 1.59% -3.50% -7.64% 21.10% -0.94%
EPS Q/Q Growth
-44.02% 139.81% -35.22% 45.63% -21.46% 72.68% 2.22% -3.72% -8.36% 24.21% -1.13%
Operating Cash Flow Q/Q Growth
36.73% -46.63% 29.46% 31.73% 31.69% -28.94% 64.14% -7.13% 20.42% -45.23% 51.63%
Free Cash Flow Firm Q/Q Growth
-0.67% 102.38% 49.28% 10.61% 23.73% 41.85% -40.51% 3.28% 9.11% -0.01% 4.54%
Invested Capital Q/Q Growth
-0.05% 1.36% -2.71% -0.35% -1.26% 0.35% -0.17% -0.57% -1.85% 0.92% -0.45%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
65.69% 65.57% 66.91% 67.74% 67.26% 67.92% 69.43% 70.01% 69.00% 69.47% 70.20%
EBITDA Margin
33.29% 44.94% 38.89% 44.13% 36.83% 48.15% 49.23% 48.28% 45.20% 49.43% 49.91%
Operating Margin
24.51% 36.20% 29.38% 34.82% 28.27% 39.67% 40.91% 40.11% 36.43% 41.78% 41.30%
EBIT Margin
23.93% 35.85% 29.73% 34.99% 27.63% 39.93% 41.00% 40.06% 36.85% 41.67% 42.05%
Profit (Net Income) Margin
16.81% 27.22% 18.54% 26.39% 20.43% 30.59% 30.57% 29.29% 26.91% 31.00% 30.89%
Tax Burden Percent
79.55% 82.06% 68.94% 81.81% 81.11% 81.16% 78.74% 76.99% 77.11% 78.28% 77.23%
Interest Burden Percent
88.34% 92.50% 90.46% 92.22% 91.16% 94.40% 94.71% 94.97% 94.71% 95.04% 95.12%
Effective Tax Rate
20.45% 17.94% 31.06% 18.19% 18.89% 18.85% 21.26% 23.01% 22.89% 21.72% 22.77%
Return on Invested Capital (ROIC)
8.55% 7.31% 5.12% 7.37% 6.07% 8.68% 9.12% 9.11% 8.69% 10.25% 10.17%
ROIC Less NNEP Spread (ROIC-NNEP)
5.79% 6.20% 4.34% 6.54% 5.12% 8.03% 8.38% 8.39% 8.17% 9.47% 9.67%
Return on Net Nonoperating Assets (RNNOA)
0.73% 1.06% 0.72% 1.28% 1.08% 1.76% 1.69% 1.73% 1.76% 2.06% 1.92%
Return on Equity (ROE)
9.28% 8.37% 5.84% 8.65% 7.16% 10.44% 10.81% 10.84% 10.45% 12.31% 12.09%
Cash Return on Invested Capital (CROIC)
-161.02% 7.09% 7.94% 8.16% 9.74% 11.01% 9.63% 10.37% 11.73% 11.40% 11.84%
Operating Return on Assets (OROA)
6.97% 6.69% 5.74% 7.02% 5.64% 8.36% 8.95% 9.12% 8.67% 10.04% 10.19%
Return on Assets (ROA)
4.90% 5.08% 3.58% 5.30% 4.17% 6.41% 6.67% 6.67% 6.33% 7.47% 7.48%
Return on Common Equity (ROCE)
7.87% 7.66% 5.34% 7.90% 6.49% 9.45% 9.74% 9.72% 9.31% 10.97% 10.73%
Return on Equity Simple (ROE_SIMPLE)
0.00% 8.50% 7.35% 7.74% 0.00% 9.03% 10.35% 11.31% 0.00% 12.80% 0.00%
Net Operating Profit after Tax (NOPAT)
573 939 628 879 723 1,124 1,143 1,104 1,009 1,235 1,198
NOPAT Margin
19.49% 29.71% 20.25% 28.49% 22.93% 32.20% 32.21% 30.88% 28.09% 32.70% 31.90%
Net Nonoperating Expense Percent (NNEP)
2.75% 1.11% 0.79% 0.83% 0.95% 0.65% 0.74% 0.71% 0.52% 0.78% 0.50%
Return On Investment Capital (ROIC_SIMPLE)
1.21% - - - 1.58% - - - 2.26% 2.75% 2.67%
Cost of Revenue to Revenue
34.31% 34.43% 33.09% 32.26% 32.74% 32.08% 30.57% 29.99% 31.00% 30.53% 29.80%
SG&A Expenses to Revenue
32.16% 22.31% 24.86% 24.03% 29.89% 20.19% 20.68% 22.60% 25.58% 20.23% 21.38%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
41.52% 29.81% 37.89% 33.17% 39.09% 28.42% 28.88% 30.21% 32.93% 27.99% 29.19%
Earnings before Interest and Taxes (EBIT)
703 1,133 922 1,079 871 1,394 1,455 1,432 1,324 1,574 1,579
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
978 1,420 1,206 1,361 1,161 1,681 1,747 1,726 1,624 1,867 1,874
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
2.95 3.03 3.59 3.26 4.05 3.92 4.00 4.76 4.66 4.69 4.84
Price to Tangible Book Value (P/TBV)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)
9.59 9.18 10.57 9.39 11.08 10.48 10.51 11.75 10.88 10.79 11.00
Price to Earnings (P/E)
33.02 39.09 54.32 46.48 52.73 47.66 42.01 45.54 40.12 39.58 40.31
Dividend Yield
1.01% 1.01% 0.88% 0.98% 0.82% 0.85% 0.81% 0.70% 0.73% 0.73% 0.71%
Earnings Yield
3.03% 2.56% 1.84% 2.15% 1.90% 2.10% 2.38% 2.20% 2.49% 2.53% 2.48%
Enterprise Value to Invested Capital (EV/IC)
2.47 2.51 2.95 2.70 3.24 3.15 3.25 3.76 3.67 3.68 3.81
Enterprise Value to Revenue (EV/Rev)
10.60 10.19 11.55 10.34 12.06 11.44 11.39 12.64 11.74 11.65 11.84
Enterprise Value to EBITDA (EV/EBITDA)
19.66 22.67 29.06 25.57 29.28 27.14 25.42 27.55 24.61 24.25 24.54
Enterprise Value to EBIT (EV/EBIT)
23.63 28.93 38.17 33.09 37.64 34.41 31.51 33.77 29.76 29.19 29.44
Enterprise Value to NOPAT (EV/NOPAT)
32.00 36.53 48.96 42.06 47.58 43.76 39.10 42.51 38.08 37.60 38.27
Enterprise Value to Operating Cash Flow (EV/OCF)
45.53 40.94 42.32 36.39 40.63 36.12 31.17 32.94 29.32 29.66 31.16
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 35.33 36.78 32.75 32.81 28.01 33.49 35.96 30.95 32.02 31.88
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
0.28 0.29 0.29 0.29 0.30 0.31 0.29 0.30 0.30 0.30 0.30
Long-Term Debt to Equity
0.27 0.27 0.27 0.29 0.30 0.30 0.29 0.30 0.30 0.30 0.30
Financial Leverage
0.13 0.17 0.17 0.20 0.21 0.22 0.20 0.21 0.22 0.22 0.20
Leverage Ratio
1.70 1.54 1.53 1.54 1.57 1.57 1.56 1.56 1.60 1.58 1.58
Compound Leverage Factor
1.50 1.43 1.38 1.42 1.43 1.48 1.48 1.48 1.51 1.51 1.50
Debt to Total Capital
21.61% 22.68% 22.74% 22.70% 23.12% 23.43% 22.63% 22.90% 23.31% 23.19% 23.08%
Short-Term Debt to Total Capital
0.45% 1.82% 1.63% 0.09% 0.09% 0.60% 0.01% 0.01% 0.01% 0.01% 0.01%
Long-Term Debt to Total Capital
21.16% 20.86% 21.11% 22.61% 23.03% 22.83% 22.63% 22.89% 23.30% 23.19% 23.07%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
6.62% 6.80% 7.12% 7.14% 7.87% 7.85% 8.14% 8.83% 8.89% 8.86% 9.26%
Common Equity to Total Capital
71.77% 70.53% 70.14% 70.16% 69.01% 68.72% 69.22% 68.27% 67.80% 67.94% 67.66%
Debt to EBITDA
1.82 2.17 2.40 2.31 2.23 2.16 1.92 1.81 1.68 1.64 1.61
Net Debt to EBITDA
1.31 1.58 1.70 1.62 1.62 1.55 1.27 1.25 1.17 1.17 1.09
Long-Term Debt to EBITDA
1.78 2.00 2.23 2.30 2.22 2.11 1.92 1.80 1.68 1.64 1.61
Debt to NOPAT
2.96 3.50 4.04 3.80 3.62 3.49 2.95 2.79 2.60 2.54 2.50
Net Debt to NOPAT
2.13 2.55 2.86 2.66 2.64 2.50 1.96 1.93 1.81 1.81 1.69
Long-Term Debt to NOPAT
2.90 3.22 3.75 3.78 3.60 3.40 2.95 2.78 2.60 2.54 2.50
Altman Z-Score
3.53 3.61 4.18 3.90 4.36 4.36 4.57 5.19 4.86 5.06 5.17
Noncontrolling Interest Sharing Ratio
15.15% 8.44% 8.51% 8.61% 9.32% 9.51% 9.87% 10.34% 10.91% 10.89% 11.27%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.94 0.91 0.78 0.92 0.84 0.92 1.03 0.95 0.85 0.90 0.98
Quick Ratio
0.63 0.61 0.68 0.80 0.68 0.77 0.86 0.79 0.71 0.77 0.81
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-44,190 1,052 1,570 1,737 2,149 3,011 1,791 1,850 2,018 2,018 2,110
Operating Cash Flow to CapEx
3,975.00% 0.00% 2,480.65% 2,813.89% 2,779.17% 3,950.00% 4,862.50% 4,128.57% 5,272.73% 2,216.28% 2,368.85%
Free Cash Flow to Firm to Interest Expense
-559.37 12.37 17.84 20.67 27.90 38.60 23.26 25.69 28.83 25.87 27.40
Operating Cash Flow to Interest Expense
14.09 6.99 8.74 12.06 17.32 12.15 20.21 20.07 24.86 12.22 18.77
Operating Cash Flow Less CapEx to Interest Expense
13.73 7.25 8.39 11.63 16.70 11.85 19.79 19.58 24.39 11.67 17.97
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.29 0.19 0.19 0.20 0.20 0.21 0.22 0.23 0.24 0.24 0.24
Accounts Receivable Turnover
5.40 4.88 5.16 5.16 4.70 4.70 5.05 5.31 4.99 4.78 5.17
Inventory Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
41.57 38.00 40.88 43.95 45.03 48.59 52.47 54.42 54.33 56.51 56.21
Accounts Payable Turnover
11.46 9.45 9.42 9.93 8.22 9.13 8.77 9.24 7.91 9.02 8.87
Days Sales Outstanding (DSO)
67.64 74.87 70.67 70.72 77.69 77.64 72.22 68.69 73.13 76.30 70.62
Days Inventory Outstanding (DIO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
31.85 38.62 38.76 36.75 44.38 39.97 41.61 39.52 46.13 40.47 41.16
Cash Conversion Cycle (CCC)
35.79 36.24 31.91 33.98 33.31 37.66 30.61 29.18 26.99 35.84 29.46
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
47,881 48,532 47,216 47,049 46,455 46,645 46,568 46,303 45,446 45,862 45,656
Invested Capital Turnover
0.44 0.25 0.25 0.26 0.26 0.27 0.28 0.29 0.31 0.31 0.32
Increase / (Decrease) in Invested Capital
44,763 -113 -942 -858 -1,426 -1,887 -648 -746 -1,009 -783 -912
Enterprise Value (EV)
118,501 121,782 139,241 126,957 150,733 146,806 151,227 174,006 166,826 168,884 173,986
Market Capitalization
107,242 109,777 127,493 115,327 138,478 134,498 139,553 161,702 154,539 156,393 161,720
Book Value per Share
$111.69 $112.66 $110.56 $111.31 $107.95 $109.46 $111.48 $108.60 $106.86 $108.42 $108.87
Tangible Book Value per Share
($50.53) ($51.89) ($53.84) ($53.43) ($56.97) ($55.93) ($54.95) ($57.02) ($59.02) ($58.14) ($57.91)
Total Capital
50,700 51,435 50,570 50,486 49,559 49,954 50,389 49,793 48,906 49,116 49,349
Total Debt
10,956 11,663 11,501 11,462 11,459 11,705 11,405 11,402 11,398 11,391 11,388
Total Long-Term Debt
10,730 10,727 10,676 11,415 11,412 11,404 11,401 11,398 11,394 11,388 11,385
Net Debt
7,903 8,508 8,147 8,025 8,355 8,386 7,571 7,905 7,938 8,137 7,695
Capital Expenditures (CapEx)
28 -22 31 36 48 24 32 35 33 43 61
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-1,407 -1,041 -2,047 -2,013 -2,252 -1,692 -1,893 -1,996 -2,615 -2,046 -1,949
Debt-free Net Working Capital (DFNWC)
-106 364 -485 -367 -935 -148 146 -299 -929 -577 -102
Net Working Capital (NWC)
-332 -572 -1,310 -414 -982 -449 142 -303 -933 -580 -105
Net Nonoperating Expense (NNE)
79 79 53 65 79 56 58 57 42 64 38
Net Nonoperating Obligations (NNO)
8,137 8,760 8,147 8,025 8,355 8,396 7,584 7,912 7,938 8,137 7,695
Total Depreciation and Amortization (D&A)
275 287 284 282 290 287 292 294 300 293 295
Debt-free, Cash-free Net Working Capital to Revenue
-12.58% -8.71% -16.97% -16.39% -18.02% -13.19% -14.26% -14.50% -18.41% -14.12% -13.26%
Debt-free Net Working Capital to Revenue
-0.95% 3.05% -4.02% -2.99% -7.48% -1.15% 1.10% -2.17% -6.54% -3.98% -0.69%
Net Working Capital to Revenue
-2.97% -4.79% -10.86% -3.37% -7.86% -3.50% 1.07% -2.20% -6.57% -4.00% -0.71%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.05 $2.47 $1.60 $2.34 $1.84 $3.16 $3.23 $3.12 $2.85 $3.55 $3.50
Adjusted Weighted Average Basic Shares Outstanding
316.90M 321.30M 319.30M 317.50M 318.40M 313.60M 313M 311.20M 311.60M 307.30M 305.90M
Adjusted Diluted Earnings per Share
$1.03 $2.47 $1.60 $2.33 $1.83 $3.16 $3.23 $3.11 $2.85 $3.54 $3.50
Adjusted Weighted Average Diluted Shares Outstanding
318.50M 322.10M 319.80M 318M 318.90M 314M 313.20M 311.50M 311.90M 307.70M 306.10M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
0.00 320.80M 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)
573 939 628 879 723 1,124 1,143 1,104 1,009 1,235 1,198
Normalized NOPAT Margin
19.49% 29.71% 20.25% 28.49% 22.93% 32.20% 32.21% 30.88% 28.09% 32.70% 31.90%
Pre Tax Income Margin
21.14% 33.16% 26.89% 32.26% 25.19% 37.70% 38.83% 38.04% 34.90% 39.61% 40.00%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
8.90 13.33 10.48 12.85 11.31 17.87 18.90 19.89 18.91 20.18 20.51
NOPAT to Interest Expense
7.25 11.04 7.14 10.46 9.39 14.41 14.85 15.33 14.42 15.84 15.56
EBIT Less CapEx to Interest Expense
8.54 13.59 10.13 12.42 10.69 17.56 18.48 19.40 18.44 19.63 19.71
NOPAT Less CapEx to Interest Expense
6.90 11.30 6.79 10.03 8.76 14.10 14.43 14.85 13.95 15.28 14.76
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
36.74% 46.09% 54.24% 51.88% 49.33% 45.73% 39.16% 36.91% 34.10% 33.98% 33.90%
Augmented Payout Ratio
377.57% 224.52% 246.11% 161.32% 163.43% 152.18% 102.85% 122.79% 113.32% 114.80% 128.31%

Key Financial Trends

S&P Global (NYSE: SPGI) has demonstrated steady financial performance over the past four years, showing consistent revenue growth, solid profitability, and stable cash flow management.

Income Statement Highlights:

  • Operating revenue increased from approximately $2.86 billion in Q3 2022 to about $3.76 billion in Q2 2025, indicating steady top-line growth.
  • Net income has shown a strong upward trend from $678 million in Q3 2022 to about $1.16 billion in Q2 2025, reflecting good profitability improvements.
  • Diluted earnings per share (EPS) rose from $1.84 in Q3 2022 to $3.5 in Q2 2025, benefiting from both earnings growth and share repurchases.
  • Operating expenses increased in line with revenues, with selling, general and administrative expenses rising moderately, maintaining operating efficiency.
  • Interest expense has remained relatively stable, close to $70-80 million per quarter, manageable relative to operating income.

Balance Sheet Highlights:

  • Total assets grew moderately from about $61.8 billion in Q3 2022 to approximately $60.4 billion in Q2 2025, reflecting stable asset management.
  • Goodwill and intangible assets remain significant at around $35 billion and $16 billion respectively, indicating substantial investments in acquisitions and brand value.
  • Total liabilities have remained stable around $22 billion, with long-term debt approximately $11-12 billion, showing controlled leverage.
  • Common equity has increased over time, reaching about $33.4 billion in Q2 2025, supporting financial strength and shareholder value.
  • Cash and equivalents fluctuated somewhat but remain healthy around $1.8 billion as of Q2 2025, supporting liquidity needs.

Cash Flow Statement Highlights:

  • Net cash from operating activities has strengthened, reaching $1.45 billion in Q2 2025, underpinning solid core business cash generation.
  • Investing activities show consistent capital expenditures around $30-60 million quarterly and moderate acquisitions activity, reflecting investment in growth.
  • Repurchases of common equity have been substantial, with $651 million in Q2 2025 and over $1 billion in prior quarters, which reduces cash reserves though supports EPS growth.
  • Cash dividends paid have also increased, with $368 million in Q2 2025, representing ongoing shareholder returns but cash outflow pressure.
  • Despite significant financing cash outflows due to buybacks and dividends, net change in cash and equivalents was positive $378 million in Q2 2025, signaling balanced cash management.

Summary: S&P Global has shown consistent revenue and earnings growth over the last four years, improving profitability and generating strong cash flows. The company has actively returned capital to shareholders through dividends and share buybacks, which supports EPS but consumes cash. Its balance sheet reflects stable leverage and substantial intangible assets from acquisitions that may fuel future growth. Overall, SPGI demonstrates financial stability with a focus on shareholder value creation.

08/08/25 11:38 PMAI Generated. May Contain Errors.

Frequently Asked Questions About S&P Global's Financials

When does S&P Global's financial year end?

According to the most recent income statement we have on file, S&P Global's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has S&P Global's net income changed over the last 10 years?

S&P Global's net income appears to be on an upward trend, with a most recent value of $4.17 billion in 2024, falling from -$13 million in 2014. The previous period was $2.89 billion in 2023. See where experts think S&P Global is headed by visiting S&P Global's forecast page.

What is S&P Global's operating income?
S&P Global's total operating income in 2024 was $5.58 billion, based on the following breakdown:
  • Total Gross Profit: $9.82 billion
  • Total Operating Expenses: $4.28 billion
How has S&P Global's revenue changed over the last 10 years?

Over the last 10 years, S&P Global's total revenue changed from $5.05 billion in 2014 to $14.21 billion in 2024, a change of 181.3%.

How much debt does S&P Global have?

S&P Global's total liabilities were at $22.71 billion at the end of 2024, a 1.0% increase from 2023, and a 318.8% increase since 2014.

How much cash does S&P Global have?

In the past 10 years, S&P Global's cash and equivalents has ranged from $1.29 billion in 2022 to $6.50 billion in 2021, and is currently $1.67 billion as of their latest financial filing in 2024.

How has S&P Global's book value per share changed over the last 10 years?

Over the last 10 years, S&P Global's book value per share changed from 1.80 in 2014 to 106.86 in 2024, a change of 5,845.3%.



This page (NYSE:SPGI) was last updated on 8/8/2025 by MarketBeat.com Staff
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