Fundamental analysis · SEC EDGAR · TTM through 30/09/2026

Fundamental analysis of S&P Global Inc.

SPGI · NYSE · Financial

Fundamental quality

ATTRACTIVE

88

out of 100

S&P Global Inc. fits the profile of a quality compounder: it pairs high return on capital (ROE 25.3%) with wide margins (net margin 30.6%) and a business that keeps growing (14.6% a year). On fundamental quality it scores 88 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its growth (revenue +14.6%/yr). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.

What the company does

S&P Global owns one of the world's two big credit-rating agencies (the one that grades the debt of companies and countries) and the S&P indices (like the S&P 500). It's a toll-booth business: it charges for data, ratings and indices the market needs.

What will shape its future

  • The volume of corporate debt issuance, which boosts or slows its ratings business.
  • The near-monopoly nature of ratings and indices, with high barriers to entry.
  • The growth of its highly recurring financial data and analytics business.

Breakdown by area

I.Growth
67

EPS growth: 10.1% · Revenue growth: 14.6%

II.Profitability
94

Net margin: 30.6% · ROE: 25.3%

III.Financial health
90

Net debt/EBITDA: 1.2x · FCF: 34.2%

Source: SEC EDGAR · TTM through 30/09/2026

The score includes +4 for dividend strength: 53 consecutive years of increases. Keeping that streak demands growing cash generation and balance-sheet discipline.

The score combines growth, profitability and financial strength. Here its profitability weighs in its favor, while its growth drags it down the most.

Versus its sector

Percentile against the other 71 Financial companies in our coverage: how far it beats them on each metric (100 = best in sector).

Net marginbeats 84%
ROEbeats 83%
Growthbeats 72%
Cash generationbeats 81%
Less debtbeats 50%

Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.

Key concepts

What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow

S&P Global Inc. strengths

  • Excellent free-cash-flow generation (FCF margin of 34.2%): profit turns into real cash.
  • Exceptional net margin (30.6%): the business is clearly profitable.
  • Outstanding return on equity (ROE of 25.3%): it puts shareholder capital to good use.
  • Revenue growing (14.6% annualized).

S&P Global Inc. risks and weaknesses

  • Its net debt has grown over the period.

S&P Global Inc. historical evolution

YearRevenueNet incomeFree cash flowNet debt
20207,4422,3393,4912
20218,2973,0243,563-2,383
202211,1813,2482,5149,670
202312,4972,6263,56710,169
202414,2083,8525,5659,732
202515,3364,4715,45611,381

Between 2020 and 2025, revenue went from $7,442M to $15,336M (+106%) and net income went from $2,339M to $4,471M (+91%).

Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.

Latest results

Versus the same period a year earlier

Figures for the nine months ended September 30, 2026, versus the nine months ended September 30, 2025 (SEC filings):

  • Revenue+9.5%
  • Net income+15.4%

What changed with the September 30, 2026 results

Compared with the previous close (March 31, 2026), this is what moved in its accounts:

  • Quality score84→88
  • ROE15.3%→25.3%
  • FCF margin35.3%→34.2%
  • Net debt/EBITDA1.42×→1.2×

Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.

Dividend

$3.84

per share, yearly

26.2% of earnings

Payout

53 straight years raising it

Growth

The dividend yield depends on today's price. Compute it in the analyzer → · See all dividend-paying stocks →

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Is S&P Global Inc. cheap or expensive?

That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).

Compute the valuation →

Frequently asked questions

Is S&P Global Inc. a good company to invest in?

In terms of business quality, S&P Global Inc. scores 88 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.

Is S&P Global Inc. a profitable company?

Very. S&P Global Inc. shows a net margin of 30.6% and an ROE of 25.3%, typical of a highly profitable business.

Does S&P Global Inc. have a lot of debt?

Not particularly. Its net debt is 1.2 times its EBITDA, a low level.

Is S&P Global Inc. growing?

Its revenue has grown 14.6% annualized in recent years and its earnings per share 10.1%, and without interruption since 2020.

Does S&P Global Inc. generate cash?

Yes. It converts about 34.2% of its revenue into free cash flow, and has done so positively year after year.

The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.

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