S&P Global (SPGI) Company Report

S&P Global delivered 8% revenue growth, 140 bps adjusted operating margin expansion, and 14% diluted EPS growth in FY 2025, returning 113% of free cash flow to shareholders.
For 2026, the company guides 6.0%–8.0% organic constant-currency revenue growth (6.6%–8.6% reported) and $19.40–$19.65 adjusted EPS (+9%–10% y/y).
The planned spin-off of Mobility is on track for mid-2026, with public Form 10 filings, an Investor Day and equity roadshow slated for 2Q 2026.

1 day ago

Presentation

S&P Global reports Q4 2025 results

SPGI

Earnings

Guidance Update

Share Buyback

S&P Global delivered Q4 2025 revenue growth of +9% reported and +8% organic constant currency; adjusted diluted EPS rose 14% year-over-year.
Strong performance across divisions: Ratings revenue up 12%, Market Intelligence subscription revenue +7%, Energy +6%, Indices +14%, and Mobility +8%.
2026 guidance includes organic constant currency revenue growth of 6–8%, adjusted EPS of $19.40–$19.65 (+9–10%), and 50–75 bps of margin expansion.
Returned capital with over $5 billion in share repurchases, 53rd consecutive dividend increase, and 113% of free cash flow returned to shareholders in 2025.

1 day ago

Transcript

S&P Global reports Q4 2025 results

SPGI

Earnings

Guidance Update

Product Launch

2025 full-year performance: delivered strong revenue growth, expanded operating margins, and 14% EPS growth, returned 113% of adjusted free cash flow to shareholders, raised dividends for the 53rd consecutive year, and repurchased over $5 billion of stock.
Q4 2025 divisional growth: Ratings revenue up 12%, Energy up 6%, Indices up 14%, and Mobility up 8% year-over-year.
2026 guidance: organic constant-currency revenue growth of 6%–8%, adjusted diluted EPS of $19.40–$19.65 (up 9%–10%), and operating margin expansion of 50–75 bps excluding OSTTRA.
Strategic initiatives: advanced AI capabilities across products, expanded private markets offerings (iLEVEL AI, private equity benchmarks), and launched the S&P 500 on-chain index via Centrifuge partnership.

1 day ago

Transcript

S&P Global reports Q4 2025 results and 2026 outlook

SPGI

Earnings

Guidance Update

Share Buyback

Q4 2025 revenue grew 9% (reported) and 8% on an organic constant‐currency basis, adjusted operating margin expanded to 47.3% (+60 bps y/y), and adjusted EPS increased 14% year-over-year.
For full year 2025, EPS rose 14% at the high end of guidance; repurchased >$5 billion of stock; returned 113% of adjusted free cash flow; and announced the 53rd consecutive annual dividend increase.
2026 guidance calls for 6–8% organic constant‐currency revenue growth, adjusted EPS of $19.40–$19.65 (9–10% y/y), and margin expansion of 50–75 bps excluding Astra.
Strategic priorities include integrating AI across products, expanding in private markets and energy, and scaling enterprise capabilities via the Chief Client Office and Enterprise Data Office to drive growth and efficiency.
Progressing the Mobility spin: confidential Form 10 filed, new name “Mobility Global” announced, with public Form 10, Investor Day, and spin targeted by end-Q2 2026; consolidation continues until separation.

1 day ago

Transcript

S&P Global reports Q4 2025 earnings

SPGI

Earnings

Guidance Update

S&P Global reported revenue of $3.916 billion in Q4 2025, up 9% y/y; operating profit rose 10% to $1.852 billion, with margin expanding 60 bps to 47.3%.
Net income attributable to S&P was $1.299 billion (+12%), delivering diluted EPS of $4.30, a 14% increase y/y.
By division, Ratings revenue grew 12% to $1.187 billion (margin 61.8%), and Market Intelligence revenue reached $1.264 billion (+7%).
Adjusted free cash flow (ex. certain items) was $1.717 billion in the quarter; full-year 2025 adjusted FCF was $5.5 billion.
2026 guidance calls for 6.6–8.6% GAAP revenue growth, diluted EPS of $19.40–19.65, and an effective tax rate of 22–23%.

1 day ago

Presentation

S&P Global reports Q4 and full-year 2025 results and issues 2026 guidance

SPGI

Earnings

Guidance Update

Dividends

Q4 2025 revenue reached $3.916 billion, up 9% y/y, driven by an 8% increase in subscription products and growth across all five divisions.
Q4 2025 GAAP diluted EPS was $3.75 (+32% y/y) and adjusted diluted EPS was $4.30 (+14% y/y), reflecting a 29% net income rise and share count reduction.
Full-year 2025 revenue was $15.336 billion, up 8% y/y, with all segments contributing to the growth.
2026 guidance calls for 6–8% organic constant-currency revenue growth, 6.6–8.6% GAAP revenue growth, and $19.40–$19.65 diluted EPS.
The board targets returning ≥85% of adjusted free cash flow to shareholders and declared a quarterly dividend of $0.97, marking the 53rd consecutive annual increase.

1 day ago

8-K

S&P Global reports mixed Q4 2025 results

SPGI

Earnings

Guidance Update

Adjusted EPS of $4.30 (+14% YoY) missed estimates, while revenue of $3.92 billion (+9% YoY) narrowly beat forecasts.
Full-year 2025 sales of $15.336 billion, net income of $4.471 billion and diluted EPS of $14.66.
Declared a quarterly dividend of $0.97 and recorded a $270 million net gain on dispositions (vs. $38 million a year earlier).
Guided 2026 organic revenue growth of 6–8% and adjusted EPS of $19.40–$19.65, an outlook modestly below consensus that triggered a double-digit pre-market share decline.
Shares have underperformed year-to-date, down ~15% vs. a ~1.7% gain for the S&P 500.

2 days ago

Morningstar

S&P Global spotlights Western push for domestic minerals

SPGI

Western governments are mobilizing significant capital to address a decade of supply chain underinvestment after China’s 2025 export freeze on defense-critical metals like tungsten and tellurium.
S&P Global forecasts a 10 million-tonne copper supply shortfall by 2040, driven by AI infrastructure and rising defense spending.
The US signed 11 new critical minerals frameworks in February 2026, prioritizing secure domestic supply chains over lowest-cost sourcing.
Institutional investors see these shifts as a hedge against inflation and scarcity, creating a “Goldilocks” window for porphyry copper exploration in stable jurisdictions.

6 days ago

Press Release

FFB Bancorp announces Q4 2025 results

SPGI

Earnings

Share Buyback

Net income for Q4 2025 was $3.21 M or $1.07 per diluted share, down from $6.24 M ($2.06) in Q3 2025 and $9.72 M ($3.05) in Q4 2024.
Full-year 2025 net income was $23.58 M ( $7.66 per diluted share), versus $34.15 M ( $10.72 ) in 2024.
Q4 2025 operating revenue was $23.34 M (–1% QoQ, –17% YoY) and total assets rose 5% YoY to $1.58 B.
The board authorized redemption of $28.3 M in subordinated debt on Feb 15, 2026, and a share repurchase program of up to $15.0 M (≈8.1% of equity).

Jan 26, 2026, 2:00 PM

Press Release

S&P Global increases quarterly dividend by 1.0% to $0.97

SPGI

Dividends

Board approved a 1.0% increase in the quarterly cash dividend, raising it to $0.97 per share.
Dividend is payable March 11, 2026 to shareholders of record on February 25, 2026.
New annualized dividend rate is $3.88 per share.
Increase reflects the planned spin-off of the Mobility division into a standalone public company in 2026.