S&P Global (SPGI) Company Report

Enterprise Data Office (EDO) and Chief Client Office (CCO) established to drive an enterprise mindset, enabling rapid data linking via Kensho Link and Terahelix, contributing to Market Intelligence margin expansion and landing strategic deals such as Barclays.
Generative AI integrated across core products (e.g., Platts Connect ChatAI, iLevel automated ingestion), complemented by the launch of Kensho Labs to co-create AI solutions with clients.
Clients most active on S&P Global’s AI tools are substantially increasing data consumption, leading to new licensing agreements through channels like Claude for Financial Services and Microsoft Copilot.
Market Intelligence targets 6–8% organic revenue growth, underpinned by 6.5–7% ACV growth in Q3 and high-growth workflow tools (Wall Street Office, iLevel), while maintaining strict pricing discipline.
Ratings margins have expanded through process streamlining, robotic process automation, generative AI in analytical workflows, and cross-training of analysts, allowing increased output without additional headcount.

3 days ago

Transcript

S&P Global outlines new data and AI strategy with 6–8% MI growth outlook

SPGI

Guidance Update

Product Launch

S&P Global’s Enterprise Data Office and Chief Client Office have accelerated data linking via Kensho and Terahelix, expanded Market Intelligence margins without rising headcount (2025 peak organic headcount), and secured major deals like Barclays.
The company is embedding generative AI across products—Spark Assist, Platts Connect Chat, CapIQ Pro, iLevel—and launched Kensho Labs for client co-creation, while licensing data to LLMs such as Claude and Microsoft Copilot to boost usage and new revenue streams.
Market Intelligence targets 6–8% organic revenue growth over the medium term, driven by 6.5–7% Q3 ACV growth, AI-enhanced subscription products, workflow tools (Wall Street Office, iLevel, Notice Manager), and vendor consolidation tailwinds.
Private markets, including private credit, have delivered strong Ratings and MI growth; partnerships with Cambridge Mercer and acquisition of WIS Intelligence aim to close the transparency gap in benchmarks and reporting, underpinning a significant medium-term opportunity across Ratings, MI, and Index.

3 days ago

Transcript

S&P Global outlines AI strategy and strategic initiatives at JPMorgan 2025 investor conference

SPGI

New Projects/Investments

Product Launch

Guidance Update

CEO Martina Cheung highlighted the success of the newly formed Enterprise Data Office (EDO) and Chief Client Office (CCO) in their first year: EDO has linked millions of data assets using Kensho Link and Terahelix without adding organic headcount, while CCO secured key deals with top-tier clients like Barclays.
S&P Global is embedding generative AI into core products (e.g., Platts Connect ChatAI, CapIQ Pro) and expanding data licensing through hyperscalers and LLMs, and has launched Kensho Labs to co-create bespoke AI solutions with clients.
The Market Intelligence division targets 6–8% organic revenue growth over the medium term, driven by AI-enhanced subscription offerings and high-growth workflow tools such as Wall Street Office, iLevel, and Notice Manager.
Ratings margins have improved through process streamlining since 2022, including RPA, machine learning, generative AI in analytical workflows, and cross-training analysts to manage capacity without headcount increases.
S&P Global is well-positioned in private markets—particularly private credit and infrastructure—achieving strong double-digit growth in ratings and MI, bolstered by partnerships with Cambridge Mercer and WIS Intelligence to enhance transparency and benchmarking.

3 days ago

Transcript

Clean Power Alliance earns A credit rating from S&P

SPGI

Clean Power Alliance received an upgrade from an A- to an A issuer credit rating with a Stable Outlook from S&P Global Ratings.
The upgrade reflects CPA’s strengthened liquidity position, zero outstanding long-term debt, and diversified, extremely low-carbon energy supply portfolio.
CPA’s electricity portfolio is expected to exceed 70% renewable in 2025 and includes energy from the SunZia project.
The A rating bolsters CPA’s ability to secure favorable terms on energy procurement, financing, and infrastructure investments.

4 days ago

Press Release

S&P Global outlines strategic roadmap and financial targets at Investor Day 2025

SPGI

Guidance Update

Medium-term financial targets: Enterprise-level OCC revenue growth of 7–9%, adjusted operating margin expansion of 50–75 bps/year, and double-digit adjusted diluted EPS growth over the next 3–5 years.
Capital return framework: Targeting ~85% of adjusted free cash flow returned via dividends and share repurchases, maintaining adjusted gross leverage of 2.0–2.5x EBITDA, and a 20–25% dividend payout ratio.
Strategic priorities: Emphasizing growth in private markets, AI and blockchain, and decentralized finance, alongside expansion across Market Intelligence, Ratings, Energy, and Dow Jones Indices divisions.
Investment and productivity: Focusing on organic growth funded by AI-driven productivity levers and operational efficiency to accelerate innovation and margin expansion.

Nov 13, 2025, 6:00 PM

Presentation

S&P Global outlines growth strategy and medium-term targets at 2025 Investor Day

SPGI

Guidance Update

New Projects/Investments

S&P Global remains on track to spin off its mobility division into an independent company; post-spin operations will consist of four divisions with all financial targets excluding mobility contributions.
The company’s three strategic objectives are advancing market leadership, expanding into high-growth adjacencies (e.g., private markets, supply chain intelligence, decentralized finance), and amplifying enterprise capabilities in technology and AI.
Over the next three to five years, S&P Global targets 7–9% organic constant currency revenue growth, 50–75 bps annual margin expansion, and continued double-digit EPS growth; division-level revenue goals are MI 6–8%, Ratings 6–9%, Energy 6–8%, and Indices 10–12%.
The firm is accelerating AI innovation through its Kensho platform, building an AI layer to ingest, extract, link, and tag data at scale and launching generative AI tools such as ChatIQ, Platts ChatAI, and internal Kensho Spark Assist to enhance customer workflows.

Nov 13, 2025, 6:00 PM

Transcript

S&P Global outlines post‐spin strategy, medium‐term targets, and $30 M share buyback

SPGI

Guidance Update

Share Buyback

S&P Global will complete its planned spin-off of the Mobility division, after which the company will consist of four divisions (Market Intelligence, Ratings, Commodity Insights and Indices); all 2025 targets exclude Mobility contributions.
The company set medium-term targets of 7–9% organic constant-currency revenue growth, 50–75 bps of annual margin expansion, and double-digit EPS growth over the next three to five years.
Capital allocation policy remains to return ~85% of adjusted free cash flow through dividends and buybacks in a typical year, maintain its 50-year dividend-raising streak, and execute a 30 million share repurchase beginning early next year.
Key strategic growth drivers include accelerating AI innovation (leveraging Kensho and GenAI), expanding private-markets transparency solutions through partnerships and the WITH Intelligence acquisition, and deepening energy-expansion analytics and enterprise data/client engagement.

Nov 13, 2025, 6:00 PM

Transcript

S&P Global outlines strategy and targets at Investor Day 2025

SPGI

Guidance Update

Share Buyback

S&P Global will host its 2025 Investor Day on November 13 in New York to detail how it is “advancing essential intelligence” through its benchmarks, data offerings, and AI integration.
The Board authorized a new share repurchase program of up to 30 million shares, reinforcing its capital return framework targeting ~85% of adjusted free cash flow to shareholders.
Introduced non-GAAP, medium-term enterprise financial targets: 7%–9% organic, constant currency revenue growth; 50–75 bps adjusted operating margin expansion; and double-digit adjusted diluted EPS growth.
Set division-level revenue growth goals (average annual, organic, constant currency): Market Intelligence 6%–8%, Ratings 6%–9%, Energy 6%–8%, and S&P Dow Jones Indices 10%–12%.

Nov 13, 2025, 1:00 PM

Press Release

S&P Global announces Investor Day growth strategy and share repurchase plan

SPGI

Guidance Update

Share Buyback

S&P Global held its 2025 Investor Day to outline the next phase of its growth strategy and medium-term financial targets for its four core divisions—Market Intelligence, Ratings, Energy, and S&P Dow Jones Indices—excluding the forthcoming Mobility spin-off.
Enterprise targets include 7–9% organic constant-currency revenue growth, 50–75 bps adjusted operating margin expansion, and double-digit adjusted diluted EPS growth on an average annual basis.
Division-level revenue growth targets are 6–8% for Market Intelligence, 6–9% for Ratings, 6–8% for Energy, and 10–12% for S&P Dow Jones Indices.
The Board authorized a new share repurchase program of up to 30 million shares and plans a $2.5 billion accelerated share repurchase to launch in Q4, aiming to return approximately 85% of adjusted free cash flow to shareholders.

Nov 13, 2025, 12:55 PM

8-K

S&P Global research highlights data center investments driving U.S. demand growth

SPGI

New Projects/Investments

Data center and AI-related investments accounted for 80% of the increase in U.S. private domestic demand in H1 2025.
The U.S. holds over 40% of global data center capacity, a share projected to grow.
AI-focused business investment has surged, offsetting broader weakness from higher borrowing costs and policy uncertainty.
S&P Global will publish the full findings in its Look Forward: Data Center Frontiers journal in December 2025.

Nov 5, 2025, 10:11 PM

Press Release

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