S&P Global Inc.
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SPGI Q4 2025 request
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/api/financials?ticker=SPGI&year=2025&quarter=4
Pick an endpoint and run the request.Income Statement
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Revenue | 3,916 | 3,592 | +9.0% |
Show Product Lines breakouts |
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| Asset-linked fees | 330 | 290 | +13.8% |
| Asset-linked fees · Indices | 330 | 290 | +13.8% |
| Non-subscription / Transaction | 738 | 681 | +8.4% |
| Non-subscription / Transaction · Market Intelligence | 45 | 48 | -6.2% |
| Non-subscription / Transaction · Mobility | 84 | 78 | +7.7% |
| Non-subscription / Transaction · Ratings | 585 | 522 | +12.1% |
| Non-transaction | 549 | 493 | +11.4% |
| Non-transaction · Intersegment Elimination | -53 | -48 | -10.4% |
| Non-transaction · Ratings | 602 | 541 | +11.3% |
| Recurring variable | 156 | 149 | +4.7% |
| Recurring variable · Market Intelligence | 156 | 149 | +4.7% |
| Sales usage-based royalties | 115 | 97 | +18.6% |
| Sales usage-based royalties · Indices | 85 | 71 | +19.7% |
| Subscription | 2,028 | 1,882 | +7.8% |
| Subscription · Indices | 83 | 74 | +12.2% |
| Subscription · Market Intelligence | 1,062 | 989 | +7.4% |
| Subscription · Mobility | 360 | 333 | +8.1% |
Show Business Segments breakouts |
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| Indices · Intersegment Elimination | -3 | -3 | 0.0% |
| Indices · Operating Segments | 495 | 432 | +14.6% |
| Indices · Reportable Legal Entities | 498 | 435 | +14.5% |
| Indices · Reportable Legal Entities | 498 | 435 | +14.5% |
| Market Intelligence · Intersegment Elimination | -4 | -3 | -33.3% |
| Market Intelligence · Operating Segments | 1,259 | 1,183 | +6.4% |
| Market Intelligence · Reportable Legal Entities | 1,263 | 1,186 | +6.5% |
| Market Intelligence · Reportable Legal Entities | 45 | 48 | -6.2% |
| Market Intelligence · Reportable Legal Entities | 1,218 | 1,138 | +7.0% |
| Mobility · Operating Segments | 444 | 411 | +8.0% |
| Mobility · Reportable Legal Entities | 444 | 411 | +8.0% |
| Mobility · Reportable Legal Entities | 444 | 411 | +8.0% |
| Mobility · Reportable Legal Entities | 84 | 78 | +7.7% |
| Mobility · Reportable Legal Entities | 360 | 333 | +8.1% |
| Ratings · Intersegment Elimination | -46 | -42 | -9.5% |
| Ratings · Operating Segments | 1,141 | 1,021 | +11.8% |
| Ratings · Reportable Legal Entities | 1,187 | 1,063 | +11.7% |
| Ratings · Reportable Legal Entities | 585 | 522 | +12.1% |
| Ratings · Reportable Legal Entities | 602 | 541 | +11.3% |
Show Geography breakouts |
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| Asia | 419 | 380 | +10.3% |
| Europe | 935 | 849 | +10.1% |
| Rest Of World [Member] | 213 | 201 | +6.0% |
| US | 2,349 | 2,162 | +8.6% |
Show — breakouts |
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| Revenue | 24 | 33 | -27.3% |
| Revenue | -19 | -30 | +36.7% |
| Revenue | 1,877 | 1,740 | +7.9% |
| Revenue | 577 | 545 | +5.9% |
| Revenue | -1,559 | -1,431 | -8.9% |
| Revenue | 414 | 379 | +9.2% |
| Revenue | 577 | 545 | +5.9% |
Show Legal Entity breakouts |
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| S&P/DJ Indices · Related Party | 47 | 46 | +2.2% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | -53 | -48 | -10.4% |
| Intersegment Elimination · Transferred Over Time | -53 | -48 | -10.4% |
| Operating Segments | 3,916 | 3,592 | +9.0% |
| Reportable Legal Entities | 3,969 | 3,640 | +9.0% |
Show Timing Of Transfer Of Good Or Service breakouts |
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| Transferred At Point In Time | 738 | 681 | +8.4% |
| Transferred Over Time | 3,178 | 2,911 | +9.2% |
| Cost of Revenue | 1,170 | 1,107 | +5.7% |
| Selling, General & Administrative | 1,045 | 926 | +12.9% |
| Depreciation | 31 | 26 | +19.2% |
| Amortization Of Intangible Assets | 266 | 274 | -2.9% |
| Total Costs & Expenses | 2,512 | 2,333 | +7.7% |
| Gain Loss On Sale Of Business | -270 | -38 | -610.5% |
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| Gain Loss On Sale Of Business | -270 | -38 | -610.5% |
| Gain Loss On Sale Of Business | -267 | -17 | -1470.6% |
| Income Loss From Equity Method Investments | 0 | -12 | +100.0% |
| Operating Income | 1,674 | 1,309 | +27.9% |
Show Business Segments breakouts |
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| Indices · Operating Segments | 330 | 287 | +15.0% |
| Market Intelligence · Operating Segments | 235 | 226 | +4.0% |
| Mobility · Operating Segments | 71 | 65 | +9.2% |
| Ratings · Operating Segments | 722 | 627 | +15.2% |
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| Operating Income | 220 | 202 | +8.9% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | -96 | 110 | -187.3% |
| Operating Segments | 1,578 | 1,407 | +12.2% |
| Other Non-Operating Income (Expense) | -11 | -15 | +26.7% |
| Interest Expense | 54 | 70 | -22.9% |
| Income Before Taxes | 1,631 | 1,254 | +30.1% |
| Income Tax Expense (Benefit) | 407 | 287 | +41.8% |
| Net Income | 1,224 | 967 | +26.6% |
| Income Loss From Continuing Operations Attributable To Noncontrolling Entity | -90 | -87 | -3.4% |
| Net Income | 1,134 | 880 | +28.9% |
| EPS (Basic) | 3.76 | 2.85 | +31.9% |
| EPS (Diluted) | 3.76 | 2.85 | +31.9% |
| Wtd Avg Shares (Basic) | -1 | -1 | 0.0% |
| Wtd Avg Shares (Diluted) | -1 | -1 | 0.0% |
| Common Stock Shares Outstanding | 298.8 | 307.8 | -2.9% |
| Comprehensive Income | 1,235 | 711 | +73.7% |
| Gain Loss On Investments | -6 | -8 | +25.0% |
| Interest Income Expense Net (Q) | — | — | — |
Show Derivative Risk breakouts |
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| Cross Currency Interest Rate Contract · Net Investment Hedging | 11 | 14 | -21.4% |
Balance Sheet
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 1,745 | 1,666 | +4.7% |
| Short-Term Investments | 56 | 20 | +180.0% |
| Accounts Receivable | 3,441 | 2,867 | +20.0% |
| Prepaid Expenses & Other Current Assets | 858 | 906 | -5.3% |
| Assets Of Disposal Group Including Discontinued Operation Current | 196 | — | — |
| Total Current Assets | 6,296 | 5,459 | +15.3% |
| Non-Current Assets | |||
| Property, Plant & Equipment | 278 | 265 | +4.9% |
| Operating Lease Right-of-Use Assets | 413 | 413 | 0.0% |
| Goodwill | 36,475 | 34,917 | +4.5% |
Show Business Segments breakouts |
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| Energy · Operating Segments | 5,563 | 5,550 | +0.2% |
| Indices · Operating Segments | 1,505 | 1,369 | +9.9% |
| Market Intelligence · Operating Segments | 19,662 | 18,306 | +7.4% |
| Mobility · Operating Segments | 8,858 | 8,858 | 0.0% |
| Ratings · Operating Segments | 164 | 259 | -36.7% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 723 | 575 | +25.7% |
| Defined Benefit Plan Assets For Plan Benefits Noncurrent | 254 | 246 | +3.3% |
Show Retirement Plan Type breakouts |
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| Pension Plans Defined Benefit | 254 | 246 | +3.3% |
| Other Non-Current Assets | 610 | 591 | +3.2% |
| Total Assets | 61,200 | 60,221 | +1.6% |
Show Business Segments breakouts |
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| Energy · Operating Segments | 8,543 | 8,636 | -1.1% |
| Indices · Operating Segments | 3,378 | 3,200 | +5.6% |
| Market Intelligence · Operating Segments | 31,234 | 29,478 | +6.0% |
| Mobility · Operating Segments | 12,974 | 13,222 | -1.9% |
| Ratings · Operating Segments | 1,137 | 1,056 | +7.7% |
Show Consolidation Items breakouts |
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| Corporate Non Segment | 3,738 | 4,629 | -19.2% |
| Operating Segments | 57,266 | 55,592 | +3.0% |
| Intangible Assets | 15,425 | 15,710 | -1.8% |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Customer Relationships | 11,530 | 11,728 | -1.7% |
| Databases and software | 2,491 | 2,474 | +0.7% |
| Other Intangible Assets | 350 | 353 | -0.8% |
| Trade Names | 1,054 | 1,155 | -8.7% |
| Other Assets | |||
| Property Plant And Equipment Gross | 1,139 | 1,088 | +4.7% |
| Accumulated Depreciation Depletion And Amortization Property Plant And Equipment | -861 | -823 | -4.6% |
| Intangible Assets Net Excluding Goodwill | 16,271 | 16,556 | -1.7% |
| Investments In Affiliates Subsidiaries Associates And Joint Ventures | 603 | 1,774 | -66.0% |
| Current Liabilities | |||
| Accounts Payable | 610 | 553 | +10.3% |
| Employee Related Liabilities Current | 988 | 1,073 | -7.9% |
| Debt Current | 718 | 4 | +17850.0% |
| Accrued Income Taxes Current | 180 | 199 | -9.5% |
| Deferred Revenue (Current) | 4,088 | 3,694 | +10.7% |
| Other Liabilities Current | 1,010 | 869 | +16.2% |
| Liabilities Of Disposal Group Including Discontinued Operation Current | 43 | — | — |
| Total Current Liabilities | 7,637 | 6,392 | +19.5% |
| Non-Current Liabilities | |||
| Long-Term Debt | 12,370 | 11,394 | +8.6% |
| Operating Lease Liabilities | 494 | 535 | -7.7% |
| Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent | 178 | 180 | -1.1% |
Show Retirement Plan Type breakouts |
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| Other Postretirement Benefit Plans Defined Benefit | 14 | 16 | -12.5% |
| Pension Plans Defined Benefit | 164 | 164 | 0.0% |
| Deferred Tax Liabilities | 3,262 | 3,397 | -4.0% |
| Other Non-Current Liabilities | 1,107 | 815 | +35.8% |
| Total Liabilities | 25,048 | 22,713 | +10.3% |
| Long-Term Debt | 13,088 | 11,398 | +14.8% |
Show Debt Instrument breakouts |
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| 1.25% Senior Notes, due 2030 · Senior Notes | 596 | 595 | +0.2% |
| 2.3% Senior Notes, due 2060 · Senior Notes | 683 | 683 | 0.0% |
| 2.45% Senior Notes, due 2027 · Senior Notes | 1,246 | 1,243 | +0.2% |
| 2.5% Senior Notes, due 2029 · Senior Notes | 498 | 497 | +0.2% |
| 2.70% Sustainability-Linked Senior Notes, due 2029 · Senior Notes | 1,241 | 1,238 | +0.2% |
| 2.90% Senior Notes, due 2032 · Senior Notes | 1,480 | 1,477 | +0.2% |
| 2.95% Senior Notes, due 2027 · Senior Notes | 499 | 498 | +0.2% |
| 3.25% Senior Notes, due 2049 · Senior Notes | 591 | 590 | +0.2% |
| 3.7% Senior Notes, due 2052 · Senior Notes | 976 | 975 | +0.1% |
| 3.9% Senior Notes, due 2062 · Senior Notes | 486 | 486 | 0.0% |
| 4.0% Senior Notes, due 2026 · Senior Notes | 3 | 3 | 0.0% |
| 4.25% Senior Notes, due 2029 · Senior Notes | 991 | 1,004 | -1.3% |
| 4.25% Senior Notes, due 2031 · Senior Notes | 595 | — | — |
| 4.5% Senior Notes, due 2048 · Senior Notes | 273 | 273 | 0.0% |
| 4.75% Senior Notes, due 2028 · Senior Notes | 784 | 797 | -1.6% |
| 4.80% Senior Notes, due 2035 · Senior Notes | 396 | — | — |
| 5.25% Senior Notes due 2033 · Senior Notes | 744 | 744 | 0.0% |
| 6.55% Senior Notes, due 2037 · Senior Notes | 291 | 291 | 0.0% |
Show Long-Term Debt Type breakouts |
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| Commercial Paper | 715 | — | — |
| Other Liabilities | |||
| Redeemable Noncontrolling Interest Equity Carrying Amount | 4,917 | 4,252 | +15.6% |
Show Business Segments breakouts |
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| Indices | 4,914 | — | — |
| Minority Interest | 108 | 97 | +11.3% |
| Stockholders' Equity | |||
| Common Stock | 415 | 415 | 0.0% |
| Additional Paid In Capital Common Stock | 44,117 | 44,321 | -0.5% |
| Retained Earnings | 23,666 | 20,977 | +12.8% |
| Accumulated Other Comprehensive Income | -697 | -883 | +21.1% |
| Treasury Stock Common Value | -36,374 | -31,671 | -14.8% |
| Total Stockholders' Equity | 31,127 | 33,159 | -6.1% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 31,235 | 33,256 | -6.1% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -386 | -372 | -3.8% |
| Accumulated Gain Loss Net Cash Flow Hedge Parent | 92 | 98 | -6.1% |
| Accumulated Other Comprehensive Income | -697 | -883 | +21.1% |
| Accumulated Other Comprehensive Income · Cash Flow Hedging | -5 | 1 | -600.0% |
| Accumulated Other Comprehensive Income · Interest Rate Swap | 98 | 99 | -1.0% |
| Accumulated Other Comprehensive Income · Net Investment Hedging | -234 | 33 | -809.1% |
| Accumulated Translation Adjustment | -403 | -609 | +33.8% |
| Additional Paid In Capital | 44,117 | 44,321 | -0.5% |
| Common Stock | 415 | 415 | 0.0% |
| Noncontrolling Interest | 108 | 97 | +11.3% |
| Parent | 31,127 | 33,159 | -6.1% |
| Retained Earnings | 23,666 | 20,977 | +12.8% |
| Treasury Stock Common | -36,374 | -31,671 | -14.8% |
| Total Liabilities & Equity | 61,200 | 60,221 | +1.6% |
| Buildings And Leasehold Improvements | 444 | 433 | +2.5% |
| Equipment And Furniture | 695 | 655 | +6.1% |
Cash Flow Statement
| Metric | YTD Q4 2025 | YTD Q4 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Provision For Doubtful Accounts | 11 | 7 | +57.1% |
| Deferred Income Taxes | 45 | -52 | +186.5% |
| Stock-Based Compensation | 69 | 70 | -1.4% |
| Change in Accounts Receivable | -569 | -267 | -113.1% |
| Increase Decrease In Other Current Assets | -40 | -65 | +38.5% |
| Increase Decrease In Accounts Payable And Accrued Liabilities | 438 | 376 | +16.5% |
| Change in Deferred Revenue | 395 | 431 | -8.4% |
| Increase Decrease In Other Current Liabilities | 95 | -19 | +600.0% |
| Increase Decrease In Accrued Income Taxes Payable | 14 | -122 | +111.5% |
| Increase Decrease In Other Noncurrent Assets And Liabilities Net | -81 | -69 | -17.4% |
| Net Cash from Operations | 1,748 | 1,740 | +0.5% |
| Investing Activities | |||
| Payments To Acquire Productive Assets | -46 | -33 | -39.4% |
| Payments To Acquire Businesses Net Of Cash Acquired | -1,973 | -41 | -4712.2% |
| Proceeds From Divestiture Of Businesses Net Of Cash Divested | 1,530 | 74 | +1967.6% |
| Payments For Proceeds From Short Term Investments | 17 | 7 | +142.9% |
| Net Cash from Investing | -472 | 7 | -6842.9% |
| Financing Activities | |||
| Repayments Of Senior Debt | 0 | 0 | — |
| Payments Of Dividends Common Stock | -290 | -280 | -3.6% |
| Payments Of Dividends Minority Interest | -87 | -74 | -17.6% |
| Share Repurchases | -2,500 | -1,300 | -92.3% |
| Payment For Contingent Consideration Liability Financing Activities | -2 | 0 | — |
| Net Cash from Financing | -1,202 | -1,718 | +30.0% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | -1 | -60 | +98.3% |
| Net Change in Cash | 73 | -31 | +335.5% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 1,745 | 1,666 | +4.7% |
Values in millions USD. Source: SEC EDGAR 10-K filing.