SPGI on NYSE

S&P Global

Logo: S&P Global, Public domain, via Wikimedia Commons5

American financial services company

S&P Global Inc. (prior to 2016, McGraw Hill Financial, Inc., and prior to 2013, The McGraw–Hill Companies, Inc.) is an American publicly traded corporation headquartered in Manhattan, New York.3 From Wikipedia, CC BY-SA 4.0

$424.68 up 16.11 (3.94%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

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  • TickerSPGI on NYSE1
  • Industryfinancial services1
  • HeadquartersNew York City1
  • Websitewww.spglobal.com/en
  • Legal formcorporation, joint-stock company1
  • Incorporated inNY6
  • Business address55 Water Street, New York, Ny 100416
  • Filer categoryLarge accelerated filer6
55 Water Street and north wing
Photo: Beyond My Ken, CC BY-SA 4.0, via Wikimedia Commons8

S&P Global Inc. (prior to 2016, McGraw Hill Financial, Inc., and prior to 2013, The McGraw–Hill Companies, Inc.) is an American publicly traded corporation headquartered in Manhattan, New York. Its primary areas of business are financial information, analytics, and energy and commodities intelligence. It is the parent company of S&P Global Ratings, S&P Global Energy, S&P Global Market Intelligence, and the Indian credit rating agency CRISIL. It is also the majority owner of the S&P Dow Jones Indices joint venture. "S&P" is a shortening of "Standard and Poor's."3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

42.2%Operating margin9
29.2%Net margin9
7.9%Revenue growth, 20259
14.4%Return on equity9
0.40×Debt to equity9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Subscription brought in 51% of the revenue S&P Global broke down this way in fiscal 2025.

  1. Subscription$7.9B951%up 7% from 2024
  2. Non-Subscription / Transaction$3.1B921%up 5% from 2024
  3. Non-Transaction$2.1B913%up 11% from 2024
  4. Asset-Linked Fees$1.2B98%up 15% from 2024
  5. Recurring Variable Revenue$623.0M94%up 8% from 2024
  6. Sales Usage-Based Royalties$444.0M93%up 13% from 2024
Products and services by year
Products and services202320242025
Subscription$7.0B$7.3B$7.9B
Non-Subscription / Transaction$2.1B$3.0B$3.1B
Non-Transaction$1.7B$1.9B$2.1B
Asset-Linked Fees$859.0M$1.0B$1.2B
Recurring Variable Revenue$504.0M$579.0M$623.0M
Sales Usage-Based Royalties$348.0M$393.0M$444.0M

Business segments

Market Intelligence brought in 32% of the revenue S&P Global broke down this way in fiscal 2025.

  1. Market Intelligence$4.9B932%up 6% from 2024
  2. Ratings$4.5B930%up 8% from 2024
  3. Energy$2.3B915%up 7% from 2024
  4. Indices$1.8B912%up 14% from 2024
  5. Mobility$1.7B911%up 9% from 2024
Business segments by year
Business segments202320242025
Market Intelligence$4.4B$4.6B$4.9B
Ratings$3.2B$4.2B$4.5B
Energy$1.9B$2.1B$2.3B
Indices$1.4B$1.6B$1.8B
Mobility$1.5B$1.6B$1.7B

Regions

United States brought in 61% of the revenue S&P Global broke down this way in fiscal 2025.

  1. United States$9.3B961%up 8% from 2024
  2. Europe$3.5B923%up 8% from 2024
  3. Asia$1.6B911%up 10% from 2024
  4. Rest Of World$843.0M95%up 3% from 2024
Regions by year
Regions202320242025
United States$7.5B$8.6B$9.3B
Europe$2.8B$3.3B$3.5B
Asia$1.4B$1.5B$1.6B
Rest Of World$758.0M$821.0M$843.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue30¢$4.6B
  • Selling, general and admin22¢$3.4B
  • Other costs10¢$1.5B
  • Income tax9¢$1.4B
  • Profit29¢$4.5B

Out of $15.3B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid19¢$1.2B
  • Share buybacks81¢$5.0B

Out of $5.7B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9

Financial statements

Revenue1011129$15.3B in 2025+129% since 2019
0$5.0B$10.0B$15.0B$20.0B2019: $6.7B$6.7B20192020: $7.4B$7.4B2020+11%2021: $8.3B$8.3B2021+11%2022: $11.2B$11.2B2022+35%2023: $12.5B$12.5B2023+12%2024: $14.2B$14.2B2024+14%2025: $15.3B$15.3B2025+8%
Operating income1011129$6.5B in 2025+101% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $3.2B$3.2B20192020: $3.6B$3.6B2020+12%2021: $4.2B$4.2B2021+17%2022: $4.9B$4.9B2022+17%2023: $4.0B$4.0B2023−19%2024: $5.6B$5.6B2024+39%2025: $6.5B$6.5B2025+16%
Net income1011129$4.5B in 2025+111% since 2019
0$2.0B$4.0B$6.0B2019: $2.1B$2.1B20192020: $2.3B$2.3B2020+10%2021: $3.0B$3.0B2021+29%2022: $3.2B$3.2B2022+7%2023: $2.6B$2.6B2023−19%2024: $3.9B$3.9B2024+47%2025: $4.5B$4.5B2025+16%

Every line of the income statement in the latest annual report, as filed.9

Period ending2025-12-312024-12-312023-12-31
Revenue$15.3B$14.2B$12.5B
Operating-related expenses$4.6B$4.4B$4.1B
Selling and general expenses$3.4B$3.2B$3.2B
Depreciation$110.0M$96.0M$101.0M
Amortization of intangibles$1.1B$1.1B$1.0B
Total expenses$9.2B$8.7B$8.4B
(Gain) loss on dispositions, net-$273.0M-$59.0M$70.0M
Equity in income on unconsolidated subsidiaries-$28.0M-$43.0M-$36.0M
Operating profit$6.5B$5.6B$4.0B
Other (income) expense, net-$36.0M-$25.0M$15.0M
Interest expense, net$287.0M$297.0M$334.0M
Income before taxes on income$6.2B$5.3B$3.7B
Provision for taxes on income$1.4B$1.1B$778.0M
Net income$4.8B$4.2B$2.9B
Less: net income attributable to noncontrolling interests-$349.0M-$315.0M-$267.0M
Net income attributable to S&P Global Inc.$4.5B$3.9B$2.6B
Basic (in USD per share)$14.67$12.36$8.25
Diluted (in USD per share)$14.66$12.35$8.23
Basic (in shares)304.8M shares311.6M shares318.4M shares
Diluted (in shares)305.1M shares311.9M shares318.9M shares

Compare S&P Global with another company

The story

19th century

The predecessor companies of S&P Global have histories dating to 1888, when James H. McGraw purchased the American Journal of Railway Appliances. He continued to add further publications, eventually establishing The McGraw Publishing Company in 1899.

20th century

John A. Hill had also produced several technical and trade publications and in 1902 formed his own business, The Hill Publishing Company. In 1909, both men, having known each other's interests, agreed upon an alliance and combined the book departments of their publishing companies into The McGraw–Hill Book Company. John Hill served as president, with James McGraw as vice-president. In 1917, the remaining parts of each business were merged into The McGraw–Hill Publishing Company.

In 1964, after Hill died, both McGraw–Hill Publishing Company and McGraw–Hill Book Company merged into McGraw–Hill, Inc. McGraw–Hill purchased credit rating agency Standard & Poor's from Paul Talbot Babson in 1966. In 1979, McGraw–Hill acquired Byte magazine from its owner/publisher Virginia Williamson, who then became a vice-president of McGraw–Hill. In 1986, McGraw–Hill bought out competitor The Economy Company, then the United States' largest publisher of educational material. The buyout made McGraw–Hill the largest educational publisher in the United States.

In 1994, McGraw–Hill's broadcasting division signed a deal with ABC, due partly to the fact that its stations in San Diego (KGTV) and Indianapolis (WRTV) had already been aligned with the network, and that Denver (KMGH-TV) and Bakersfield (KERO-TV) joined the ABC family (Bakersfield sister station KERO-TV was also involved in the deal between McGraw–Hill and ABC; however, that station had to wait for its affiliation contract with CBS to expire in March 1996, before it could finally switch to ABC).

21st century

In 2009, McGraw Hill sold Business Week to Bloomberg.

In October 2011, McGraw–Hill announced it was selling its entire television station group to the E. W. Scripps Company for $212 million. The sale was completed in December 2011. It had been involved in broadcasting since 1972, when it purchased four television stations from a division of Time Inc. The sale included McGraw–Hill Broadcasting's stations KERO-TV and KZKC-LP Bakersfield; KGTV and KZSD-LP San Diego; KZCS-LP Colorado Springs; flagship station KMGH-TV and KZCO-LD Denver; KZFC-LP Fort Collins; and WRTV Indianapolis.

In November 2012, McGraw–Hill announced it was selling its entire education division, known as McGraw–Hill Education to Apollo Global Management for $2.5 billion. In March 2013, McGraw–Hill announced it had completed the sale for $2.4 billion cash. In May 2013, shareholders of McGraw–Hill voted to change the company's name to McGraw Hill Financial.

In September 2014, McGraw–Hill divested the subsidiary McGraw–Hill Construction to Symphony Technology Group for US$320 million. The sale included Engineering News-Record, Architectural Record, Dodge and Sweet's. McGraw–Hill Construction has been renamed Dodge Data & Analytics.

Read the full text

In February 2016, McGraw–Hill announced that McGraw–Hill Financial would change its name to S&P Global Inc. by the end of April 2016. McGraw Hill Financial officially changed its name following a shareholder vote on April 27, 2016. In April 2016, McGraw–Hill announced that it was selling J.D. Power and Associates to investment firm XIO Group for $1.1 billion.

In November 2020, S&P Global agreed to acquire IHS Markit analytics company in a $44 billion transaction. In 2023, S&P sold the former IHS engineering operations to KKR & Co., which rebranded as Accuris.

In October 2025, S&P Global announced a deal to buy markets data and analytics firm With Intelligence for $1.8 billion.

On July 1, 2026, S&P Global completed the spin-off of its Mobility division into an independent publicly traded company, Mobility Global Inc.

From Wikipedia’s article on S&P Global, shared under CC BY-SA 4.0.7

Leadership

Who has led S&P Global, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (1)

Subsidiaries and ownership

Subsidiaries

  • CTB/McGraw-Hill
  • Carfax
  • Data Resources Inc.
  • IHS Inc.
  • IHS Markit
  • J. D. Power and Associates
  • McGraw-Hill Education
  • National Radio Institute
  • S&P Capital IQ
  • S&P Dow Jones Indices
  • S&P Global Commodity Insights
  • S&P Global Market Intelligence
  • S&P Global Platts
  • S&P Global Ratings
  • S&P Platts

From Wikidata.1

Acquisitions

  1. 1979Acquired Data Resources Inc.1
  2. Succeeded McGraw Hill Financial1

Acquisitions

During the course of its history, McGraw Hill and from 2016, S&P Global has expanded significantly through acquisition, not just within the publishing industry but also into other areas such as financial services (the purchase of Standard & Poor's in 1966) and broadcasting (the 1972 acquisition of Time-Life Broadcasting). The publishing and education assets are a part of McGraw–Hill Education from the company separation in 2013:

This list only includes acquisitions made by McGraw–Hill, not its subsidiaries. McGraw–Hill typically does not release financial information regarding its acquisitions or divestitures.

Divestitures

After acquiring a portfolio of diverse companies, McGraw Hill later divested itself of many units to form McGraw Hill Financial which is now S&P Global:

This list only includes divestitures made by S&P Global, not its subsidiaries.

From Wikipedia’s article on S&P Global, shared under CC BY-SA 4.0.7

Employees over time

  • 202235,0001
  • 201417,0001

Former names

  • MCGRAW HILL FINANCIAL INCMay 3, 2013 to May 3, 20166
  • MCGRAW-HILL COMPANIES INCAug 11, 1995 to Apr 30, 20136
  • MCGRAW HILL INCJun 29, 1994 to Feb 24, 19956

Timeline

  1. Apr 28, 2016Went public Listed on NYSE1

Recent filings

  1. Oct 5, 20264
  2. Aug 4, 20264
  3. Jul 28, 20268-K
  4. Jul 28, 202610-Q
  5. Jul 28, 2026IRANNOTICE
  6. Jul 17, 2026424B3
  7. Jul 17, 2026EFFECT
  8. Jul 9, 20263
  9. Jul 9, 2026S-4
  10. Jul 6, 20268-K/A
  11. Jul 6, 20268-K
  12. Jul 6, 20264
  13. Jul 2, 20268-K
  14. Jun 26, 202611-K
  15. May 26, 20268-K

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2