SPGI is a company that operates through several key business lines, providing essential data, analytics, and insights to various industries. The company primarily engages in Market Intelligence, Mobility, and Indices, offering subscription-based services and solutions that cater to finance, automotive, and investment sectors . SPGI's revenue growth is largely driven by the demand for market data and insights, with a strong emphasis on subscription models across its divisions .
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Market Intelligence - Provides data, analytics, and third-party research for finance and corporate professionals through Desktop, Data & Advisory Solutions, Enterprise Solutions, and Credit & Risk Solutions. Subscription revenue is a major contributor to this segment.
- Desktop - Offers software access for financial data analysis.
- Data & Advisory Solutions - Delivers tailored data and advisory services.
- Enterprise Solutions - Supplies comprehensive data solutions for enterprises.
- Credit & Risk Solutions - Provides tools for credit assessment and risk management.
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Mobility - Serves the automotive value chain, including OEMs, suppliers, and finance companies, with critical information and insights through subscription and consulting services.
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Indices - Offers valuation and index benchmarks for investment advisors and institutional investors, generating revenue from asset-linked fees, exchange-traded derivatives, and data subscriptions.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christina Twomey Executive | Chief Communications Officer | Young Leaders Council, Vital Voices | Joined SPGI in 2015; recognized for excellence in communications and crisis management. | |
Christopher F. Craig Executive | Interim CFO | None | Joined SPGI in 2010; previously SVP, Controller, and Chief Accounting Officer; appointed Interim CFO in 2024. | |
Dan Draper Executive | CEO, S&P Dow Jones Indices | Board Director, Lyric Opera of Chicago; Board Director, Delta Dental of Virginia | Joined SPGI in 2020; recognized for leadership in diversity and inclusion; extensive experience in asset management. | |
Dave Ernsberger Executive | Co-President, S&P Global Commodity Insights | None | Joined SPGI in 1996; previously Head of Market Reporting and Trading Solutions; expertise in commodity price benchmarks. | |
Edouard Tavernier Executive | President, S&P Global Mobility | None | Joined SPGI in 2022; previously EVP at IHS Markit; expertise in transportation and strategic acquisitions. | |
Eric W. Aboaf Executive | EVP and CFO | Board Chair, New York City Urban Debate League | Joined SPGI in 2025; previously CFO and Vice Chairman at State Street Corporation; extensive experience in financial strategy, treasury, and M&A. | |
Girish Ganesan Executive | EVP, Chief People Officer | Board Member, CRISIL | Joined SPGI in 2021; recognized as a top global HR leader; expertise in diversity and inclusion. | |
Mark Eramo Executive | Co-President, S&P Global Commodity Insights | None | Joined SPGI in 2022; previously Head of Fuels, Chemicals & Resource Solutions; expertise in energy transition and sustainability. | |
Martina L. Cheung Executive | President and CEO | Board of Trustees, Catholic Charities New York; Member, Council on Foreign Relations; Member, Economic Club of New York | Joined SPGI in 2010; previously President of S&P Global Ratings and S&P Global Market Intelligence; led major M&A deals like the IHS Markit merger; recognized for leadership in sustainability and DEI. | |
Sally Moore Executive | EVP, Chief Client Officer | Founding Member, UK\u2019s National Numeracy Leadership Council | Joined SPGI in 2006 through IHS Markit; expertise in strategy, M&A, and DEI advocacy. | |
Saugata Saha Executive | President, S&P Global Market Intelligence; Chief Enterprise Data Officer | None | Joined SPGI in 2014; previously President of S&P Global Commodity Insights; expertise in digital transformation and data analytics. | |
Steve Kemps Executive | EVP, Chief Legal Officer | None | Joined SPGI in 2016; oversees legal, compliance, and risk functions; CPA-certified with extensive legal expertise. | |
Swamy Kocherlakota Executive | EVP, Chief Digital Solutions Officer | None | Joined SPGI in 2017; leads digital transformation and AI innovation; recognized for diversity advocacy. | |
Yann Le Pallec Executive | President, S&P Global Ratings | Chair of the Board, CRISIL Ltd | Joined SPGI in 1999; previously Head of Global Ratings Services; expertise in credit markets and talent development. | |
Gay Huey Evans Board | Independent Director | Director, ConocoPhillips; Board Member, HM Treasury; Senior Advisor, Chatham House | Independent Director since 2022; extensive experience in finance, commodities, and regulation; honored with CBE and OBE for services to the economy and philanthropy. | |
Gregory Washington Board | Independent Director | Board of Trustees, Internet2; Board Member, N.C. State Engineering Foundation | Independent Director since 2021; President of George Mason University; expertise in engineering and technology. | |
Ian P. Livingston Board | Independent Director | Senior Independent Director, National Grid plc; Non-Executive Chair, Business Growth Fund | Independent Director since 2020; former CEO of BT Group; expertise in technology and finance. | |
Jacques Esculier Board | Independent Director | Board Member, Daimler Truck Holding AG | Independent Director since 2022; former CEO and Chairman of WABCO Holdings Inc.; expertise in transportation and commodities industries. | |
Marco Alverà Board | Independent Director | Group CEO, Tree Energy Solutions; Co-founder and CEO, Zhero; Board Member, Cini Foundation | Independent Director since 2017; extensive experience in energy transition and sustainability; former CEO of Snam S.p.A.. | |
Maria R. Morris Board | Independent Director | Board Member, Allstate; Board Member, Wells Fargo; Trustee, Catholic Charities of New York | Independent Director since 2016; former EVP at MetLife; expertise in financial services and global operations. | |
Rebecca Jacoby Board | Independent Director | Advisory Board Member, ParkourSC | Independent Director since 2014; former CIO of Cisco Systems; expertise in technology and operations. | |
Richard E. Thornburgh Board | Chairman of the Board | Director, Repay Holdings Corporation; Chairman, Jackson Hewitt; Member, Corsair Capital LLC | Independent Director since 2011; extensive experience in financial services and corporate governance. | |
Robert P. Kelly Board | Independent Director | None | Independent Director since 2022; former Chairman and CEO of The Bank of New York Mellon; expertise in finance and risk management. | |
Stephanie C. Hill Board | Independent Director | Board of Visitors, University of Maryland, Baltimore County | Independent Director since 2017; President of Rotary and Mission Systems at Lockheed Martin; recognized for advancing STEM education. | |
William D. Green Board | Independent Director | Board Member, Dell Technologies; Board Member, GTY Technologies Holdings | Independent Director since 2011; former CEO and Chairman of Accenture; expertise in IT and corporate governance. |
- Martina, with the recent leadership changes and your emphasis on connecting the dots across divisions, what specific initiatives are you planning to implement differently from your predecessor to enhance shareholder value, and how will you ensure these changes don't disrupt the company's current success?
- Given the challenges in the Market Intelligence segment, including increased cancellations among smaller customers due to pricing pressure and longer sales cycles, what concrete steps are you taking to stabilize execution and improve performance in this segment?
- Mobility revenue guidance has been trimmed for the second consecutive quarter, partly due to recall activity headwinds. How do you plan to overcome these challenges, and what strategies are in place to restore growth and confidence in this segment moving forward?
- While Commodity Insights is performing well above medium-term targets, how do you plan to mitigate potential cyclicality in this business, and can you elaborate on how investments in energy transition products will contribute to sustained growth despite market fluctuations?
- With several leadership changes announced, including new division presidents and a new CFO expected in 2025, how will you ensure that this transition maintains the company's growth trajectory, and what measures are in place to address any potential disruptions or challenges arising from these changes?
Research analysts who have asked questions during S&P Global earnings calls.
Alex Kramm
UBS Group AG
5 questions for SPGI
Andrew Steinerman
JPMorgan Chase & Co.
5 questions for SPGI
Ashish Sabadra
RBC Capital Markets
5 questions for SPGI
Craig Huber
Huber Research Partners
5 questions for SPGI
Faiza Alwy
Deutsche Bank
5 questions for SPGI
Jason Haas
Wells Fargo
5 questions for SPGI
Manav Patnaik
Barclays
5 questions for SPGI
Russell Quelch
Redburn Atlantic
5 questions for SPGI
Scott Wurtzel
Wolfe Research
5 questions for SPGI
Toni Kaplan
Morgan Stanley
5 questions for SPGI
Jeffrey Meuler
Robert W. Baird & Co. Incorporated
4 questions for SPGI
Jeffrey Silber
BMO Capital Markets
4 questions for SPGI
Surinder Thind
Jefferies Financial Group
4 questions for SPGI
Andrew Nicholas
William Blair & Company
3 questions for SPGI
George Tong
Goldman Sachs
3 questions for SPGI
Owen Lau
Oppenheimer & Co. Inc.
3 questions for SPGI
David Motemaden
Evercore ISI
2 questions for SPGI
Keen Fai Tong
Goldman Sachs Group Inc.
2 questions for SPGI
Kwun Sum Lau
Oppenheimer
2 questions for SPGI
Shlomo Rosenbaum
Stifel, Nicolaus & Company, Incorporated
2 questions for SPGI
Jeff Meuler
Robert W. Baird & Co.
1 question for SPGI
Jeff Silber
BMO Capital Markets
1 question for SPGI
Joshua Dennerlein
BofA Securities
1 question for SPGI
Peter Christiansen
Citigroup Inc.
1 question for SPGI
Sean Kennedy
Mizuho Securities
1 question for SPGI
Thomas Roesch
William Blair
1 question for SPGI
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
World Hydrogen Leaders | 2024 | Completed on May 14, 2024, this acquisition by S&P Global Commodity Insights bolsters its hydrogen and energy transition offerings with key assets in conferences, digital training, and market intelligence, while the deal remains immaterial to consolidated financials. |
Visible Alpha | 2024 | Completed on May 1, 2024, Visible Alpha—a provider of consensus data, KPIs, and analytics—was integrated into the Market Intelligence segment and enhances the Capital IQ Pro platform, reinforcing S&P Global's investment research capabilities with minimal financial impact. |
Market Scan Information Systems, Inc. | 2023 | Completed on February 16, 2023, this acquisition strengthens the Mobility segment with Market Scan’s automotive pricing and incentive intelligence, including proprietary payment technologies that are expected to contribute modest revenue growth, though the deal is not material to overall financials. |
TruSight Solutions LLC | 2023 | Completed on January 4, 2023, TruSight Solutions LLC provides third-party vendor risk assessments and has been integrated into the Market Intelligence segment to expand S&P Global’s vendor risk management solutions, with no material financial impact. |
ChartIQ | 2023 | Acquired on January 3, 2023, ChartIQ, a premier charting provider for interactive financial data visualization, has been integrated into the Market Intelligence segment and Capital IQ Pro platform to enhance technical analysis, despite its immaterial financial impact. |
IHS Markit | 2022 | Merged on February 28, 2022, S&P Global acquired 100% of IHS Markit in an all-stock deal valued at approximately $43.5 billion, creating wholly owned subsidiaries that significantly expand its market research and global insights capabilities. |
Recent press releases and 8-K filings for SPGI.
- S&P Global affiliate Reckoner Capital Management launched the Reckoner BBB-B CLO ETF (NYSE: RCLO) to deliver current income with capital preservation via BBB- and BB-rated CLO debt.
- The fund’s holdings have historically outperformed similarly rated corporate bonds over the past decade, offering higher yield, lower price volatility, and comparable liquidity.
- RCLO will execute most creations and redemptions in cash—potentially incurring transaction fees—and is non-diversified, exposing it to standard CLO risks including interest rate, credit, and liquidity risks.
- The ETF expands Reckoner’s alternative credit suite following its RAAA launch, enhancing access for institutional and retail investors to professionally managed CLO investments.
- Operating revenue declined 8% year-over-year to $23.49 million, while net interest income rose 2% to $18.05 million and net interest margin expanded to 5.15% (+4 bps YoY).
- Non-interest income dropped 29% to $5.44 million, driven by a 42% fall in merchant services revenue to $3.21 million following ISO partner exits.
- Total loans grew 12% year-over-year to $1.12 billion, with total assets at $1.50 billion; Tier 1 leverage and total risk-based capital ratios stood at 15.33% and 20.94%, respectively.
- Completed its $15 million share repurchase program, buying 61,028 shares in Q3 at an average price of $78.11, and added a Chief Banking Officer to bolster growth execution.
- S&P Global agreed to acquire With Intelligence from a Motive Partners–led consortium for $1.8 billion, enhancing its private markets intelligence capabilities.
- The deal positions S&P Global in the rapidly growing alternatives sector, with private market assets projected to reach $65 trillion by 2032.
- The transaction is expected to close by late 2025 or early 2026, be slightly dilutive to GAAP EPS upon closing, and accretive to adjusted EPS by 2027.
- Legal advisory by Clifford Chance highlights the deal’s strategic importance and cross‐border complexity.
- S&P Global’s stock rose 0.69% to $490 in pre-market trading following the announcement.
- S&P Global will acquire With Intelligence from Motive Partners for $1.8 billion, expanding its private markets intelligence capabilities.
- The deal is expected to add $130 million in revenue in 2025, with organic annual contract value growth in the high teens.
- Transaction is slated to close in 2025 or early 2026 and is anticipated to be slightly dilutive to GAAP diluted EPS but accretive to adjusted diluted EPS in 2027.
- With Intelligence brings extensive data assets covering ~30K investors, ~30K managers, ~70K funds and ~350K deals, serving ~3,000 customers globally.
- The acquisition integrates With Intelligence's proprietary datasets and benchmarks with S&P Global's analytics and workflow solutions, enhancing value for GPs, LPs and advisors.
- S&P Global Ratings has partnered with Chainlink to deliver its Stablecoin Stability Assessments (SSAs) on-chain via Chainlink’s institutional-grade DataLink service, providing real-time risk analytics directly to smart contracts and DeFi protocols.
- The SSAs rate stablecoins on a 1 (very strong) to 5 (weak) scale based on factors like asset quality, governance, and liquidity, enabling automated decision-making for institutional investors.
- The initial deployment is on Coinbase’s Base L2 network, with plans to expand to additional blockchains as market demand grows.
- This launch aligns with a $301 billion stablecoin market capitalization and follows the enactment of the U.S. GENIUS Act, establishing the first federal stablecoin regulatory framework.
- Global supply chains remained underutilized in September, with the GEP Volatility Index at –0.38 (vs –0.39 in August), indicating capacity below full utilization.
- China drove the strongest rise in factory purchasing since June 2022, pushing Asia’s supply chains to near-full utilization.
- North American manufacturers cooled activity due to tariff-related delays and economic concerns, leading to reduced purchasing and inventory build-up.
- Europe’s procurement lost momentum, with Germany, France and Italy reporting the weakest supply-chain activity since March.
- Labor shortages eased to six-month lows and global transportation costs were in line with normal levels in September.
- S&P Global and CME Group completed the sale of their post-trade joint venture OSTTRA to KKR.
- The transaction values OSTTRA at $3.1 billion in enterprise value, to be split 50/50 between the partners.
- OSTTRA, launched in 2021, offers end-to-end post-trade solutions across interest rates, FX, credit and equity asset classes.
- Barclays and Davis Polk advised S&P Global, while Citi and Skadden advised CME Group on financial and legal matters.
- S&P Global Commodity Insights reports a 20% reduction in absolute GHG emissions (25 MMt CO₂e) in the Permian Basin from 2022–2024, even as oil and gas production rose by 500,000 barrels/day.
- Enhanced methane detection and mitigation—driven by AI, improved operations, and better equipment—cut methane intensity by over 50% during the same period, outweighing production gains.
- In 2024, the basin produced nearly 11 million barrels of oil at an average GHG intensity of 22 kg CO₂e/boe, with per-well intensities ranging from <4 to >160 kg CO₂e/boe.
- The findings highlight how higher-quality observational data and operational improvements can drive absolute emissions down even amid output growth.
- S&P Global (NYSE: SPGI) and IBM (NYSE: IBM) announced a strategic alliance to integrate IBM’s watsonx Orchestrate agentic AI framework into S&P Global’s product suite, starting with supply chain management solutions.
- The new offering combines AI agents with S&P Global’s supply chain, procurement, trade, country and supplier risk data to enhance insight and visibility across procurement, finance and insurance workflows.
- S&P Global will develop new AI agents for IBM’s Agent Catalog using its proprietary data and analytics to accelerate decision-making, with plans to expand the collaboration across its Market Intelligence risk intelligence services.
- Executives emphasized the goal of empowering organizations to improve procurement strategies, manage risks and streamline workflows through AI-driven capabilities.
- S&P Dow Jones Indices is expanding its crypto offerings with the launch of the S&P Digital Markets 50 Index, developed in collaboration with Dinari to create a token that tracks the benchmark.
- The index comprises 35 companies involved in digital asset operations, infrastructure, financial services and blockchain technologies, plus 15 cryptocurrencies from the S&P Cryptocurrency Broad Digital Market Index.
- It will be investible via dShares, enabling investors to access U.S. equities and digital assets in a single, transparent product.
- The launch underscores S&P DJI’s commitment to providing independent, rules-based benchmarks that enhance transparency and accessibility in the digital asset ecosystem.