S&P Global Inc.

SPGINYSE

$452.65

Last price · USD

Market cap: $138.1B
P/E: 30.9x
EV / EBITDA: 19.6x
P/S: 9.0x
FCF yield: 4.0%
Div. yield: 0.85%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

S&P Global Inc. balance sheet

Annual · USD millions except per-share data · 46 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	1,745	1,666	1,290	1,286	6,497	-28.0%
Short-term investments	56	20	26	14	11	+50.2%
Cash & short-term investments	1,801	1,686	1,316	1,300	6,508	-27.5%
Net receivables	3,441	2,867	2,826	2,494	1,650	+20.2%
Accounts receivable	3,441	2,867	2,826	2,494	1,650	+20.2%
Prepaids	0	0	0	566	311	—
Other current assets	1,054	906	1,001	1,307	341	+32.6%
Total current assets	6,296	5,459	5,143	5,667	8,810	-8.1%
Non-current assets
Property, plant & equipment (net)	691	678	637	720	667	+0.9%
Goodwill	36,475	34,917	34,850	34,545	3,506	+79.6%
Intangible assets	16,271	16,556	17,398	18,306	1,285	+88.6%
Goodwill & intangible assets	52,746	51,473	52,248	52,851	4,791	+82.2%
Long-term investments	603	1,774	1,787	1,752	165	+38.3%
Tax assets	0	0	0	0	(165)	—
Other non-current assets	864	837	774	794	758	+3.3%
Total non-current assets	54,904	54,762	55,446	56,117	6,216	+72.4%
Total assets	61,200	60,221	60,589	61,784	15,026	+42.1%
Current liabilities
Accounts payable	610	553	557	450	205	+31.3%
Other payables	180	199	121	116	90	+18.9%
Total payables	790	752	678	566	295	+27.9%
Short-term debt	842	4	47	226	0	—
Capital lease obligations (current)	0	0	0	118	96	—
Tax payables	0	199	121	116	90	—
Deferred revenue	4,088	3,694	3,461	3,126	2,217	+16.5%
Other current liabilities	929	1,942	1,939	1,963	1,207	-6.3%
Total current liabilities	7,637	6,392	6,125	5,999	3,815	+18.9%
Non-current liabilities
Long-term debt	12,864	11,394	11,412	10,730	4,114	+33.0%
Capital lease obligations (non-current)	494	535	541	577	492	+0.1%
Deferred tax liabilities (non-current)	3,262	3,397	3,690	4,065	147	+117.0%
Other non-current liabilities	791	995	721	669	922	-3.8%
Total non-current liabilities	17,411	16,321	16,364	16,041	5,675	+32.3%
Capital lease obligations	494	535	541	695	588	-4.3%
Total debt	14,200	11,933	12,000	11,651	4,702	+31.8%
Total liabilities	25,048	22,713	22,489	22,040	9,490	+27.5%
Stockholders' equity
Common stock	415	415	415	415	294	+9.0%
Retained earnings	23,666	20,977	18,728	17,784	15,017	+12.0%
Additional paid-in capital	44,117	44,321	44,231	44,422	1,031	+155.8%
Treasury stock	(36,374)	(31,671)	(28,411)	(25,347)	(13,469)	—
Accumulated other comprehensive income (loss)	(697)	(883)	(763)	(886)	(841)	—
Total stockholders' equity	31,235	33,159	34,200	36,477	2,032	+98.0%
Total equity	36,152	37,508	38,100	39,744	5,536	+59.9%
Minority interest	4,917	4,349	3,900	3,267	3,504	+8.8%
Total liabilities & equity	61,200	60,221	60,589	61,784	15,026	+42.1%
Additional fields
Accrued Expenses	988	0	0	0	0	—
Net Debt	12,455	10,267	10,710	10,365	(1,795)	—
Total Investments	659	1,794	1,813	1,766	176	+39.1%

S&P Global Inc.

SPGINYSE

$452.65

Last price · USD

Market cap: $138.1B
P/E: 30.9x
EV / EBITDA: 19.6x
P/S: 9.0x
FCF yield: 4.0%
Div. yield: 0.85%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

S&P Global Inc. balance sheet

Annual · USD millions except per-share data · 46 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Current assets
Cash & cash equivalents	1,745	1,666	1,290	1,286	6,497	-28.0%
Short-term investments	56	20	26	14	11	+50.2%
Cash & short-term investments	1,801	1,686	1,316	1,300	6,508	-27.5%
Net receivables	3,441	2,867	2,826	2,494	1,650	+20.2%
Accounts receivable	3,441	2,867	2,826	2,494	1,650	+20.2%
Prepaids	0	0	0	566	311	—
Other current assets	1,054	906	1,001	1,307	341	+32.6%
Total current assets	6,296	5,459	5,143	5,667	8,810	-8.1%
Non-current assets
Property, plant & equipment (net)	691	678	637	720	667	+0.9%
Goodwill	36,475	34,917	34,850	34,545	3,506	+79.6%
Intangible assets	16,271	16,556	17,398	18,306	1,285	+88.6%
Goodwill & intangible assets	52,746	51,473	52,248	52,851	4,791	+82.2%
Long-term investments	603	1,774	1,787	1,752	165	+38.3%
Tax assets	0	0	0	0	(165)	—
Other non-current assets	864	837	774	794	758	+3.3%
Total non-current assets	54,904	54,762	55,446	56,117	6,216	+72.4%
Total assets	61,200	60,221	60,589	61,784	15,026	+42.1%
Current liabilities
Accounts payable	610	553	557	450	205	+31.3%
Other payables	180	199	121	116	90	+18.9%
Total payables	790	752	678	566	295	+27.9%
Short-term debt	842	4	47	226	0	—
Capital lease obligations (current)	0	0	0	118	96	—
Tax payables	0	199	121	116	90	—
Deferred revenue	4,088	3,694	3,461	3,126	2,217	+16.5%
Other current liabilities	929	1,942	1,939	1,963	1,207	-6.3%
Total current liabilities	7,637	6,392	6,125	5,999	3,815	+18.9%
Non-current liabilities
Long-term debt	12,864	11,394	11,412	10,730	4,114	+33.0%
Capital lease obligations (non-current)	494	535	541	577	492	+0.1%
Deferred tax liabilities (non-current)	3,262	3,397	3,690	4,065	147	+117.0%
Other non-current liabilities	791	995	721	669	922	-3.8%
Total non-current liabilities	17,411	16,321	16,364	16,041	5,675	+32.3%
Capital lease obligations	494	535	541	695	588	-4.3%
Total debt	14,200	11,933	12,000	11,651	4,702	+31.8%
Total liabilities	25,048	22,713	22,489	22,040	9,490	+27.5%
Stockholders' equity
Common stock	415	415	415	415	294	+9.0%
Retained earnings	23,666	20,977	18,728	17,784	15,017	+12.0%
Additional paid-in capital	44,117	44,321	44,231	44,422	1,031	+155.8%
Treasury stock	(36,374)	(31,671)	(28,411)	(25,347)	(13,469)	—
Accumulated other comprehensive income (loss)	(697)	(883)	(763)	(886)	(841)	—
Total stockholders' equity	31,235	33,159	34,200	36,477	2,032	+98.0%
Total equity	36,152	37,508	38,100	39,744	5,536	+59.9%
Minority interest	4,917	4,349	3,900	3,267	3,504	+8.8%
Total liabilities & equity	61,200	60,221	60,589	61,784	15,026	+42.1%
Additional fields
Accrued Expenses	988	0	0	0	0	—
Net Debt	12,455	10,267	10,710	10,365	(1,795)	—
Total Investments	659	1,794	1,813	1,766	176	+39.1%