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SPGIS&P Global

Financials · Credit Bureaus · NYSE
SPGI quote by TradingView
Employees
44,500
Headquarters
New York, NY
CEO
Martina Cheung
Next results
around Feb 9, 2027
Compare with peers → Embed
All key numbers (41, from the latest 10-K and 10-Q) From EDGAR
EPS (ttm)16.82Sales (ttm)16.3BNet income (ttm)5.0BSales growth+7.9%EPS growth+18.7%Sales Q/Q+6.8%
Free cash flow5.8BGross margin71.0%Oper. margin46.8%Net margin30.6%FCF margin35.8%ROE25.3%
ROA10.4%R&D / sales-Dividend3.84Debt/Eq0.79Curr. ratio0.74Cash2.4B
Op. cash flow (ttm)6.0BEBITDA7.7BEBITDA margin49.9%Net debt13.1BQuick ratio0.74Interest cover22.57
ROIC14.2%Payout ratio26.2%Tax rate22.6%Stock pay / sales1.5%Shares out.289.9MShares Y/Y-2.2%
Book / share67.99Cash / share8.42Sales / share56.20Asset turnover0.34Days sales out.77Sales 3Y CAGR+11.1%
Sales 5Y CAGR+15.6%EPS 3Y CAGR+12.8%EPS 5Y CAGR+8.7%Employees44,500Sales / employee366K

Hover or tap a number to see the XBRL line item and filing it comes from; click it to open that filing at SEC. What each number means. Looks wrong? Tell us.

Changes in the numbers

FY2025 against FY2024
  • Revenue growth slowed to +7.9%+13.7% → +7.9% · Revenue FY2025 / revenue FY2024 − 1, against the same a year earlier · 10-K ↗
  • Operating margin widened to 42.2%39.3% → 42.2% · Operating income / revenue · 10-K ↗
What management wrote about it → · Every company →

SPGI against Financials peers

Ten years, side by side → · All 76 →
GrowthProfitBalanceCleanInsiders
SPGIPeer median

Each side 0 to 100, ranked against every company we cover: relative position on reported figures, not a buy score. How

Every dot is one of the 76 companies, the better end on the right. Hover a dot for the company.

Sales growth
+7.9%31st of 76 · median +7.2%
Net margin
30.6%10th of 76 · median 20.4%
Return on equity
25.3%13th of 74 · median 16.7%
Free cash flow margin
35.8%12th of 49 · median 21.5%
Debt / equity (less is better)
0.7937th of 62 · median 0.70
SPGI and the 5 peers closest in revenue
CompanyRevenue (ttm)Sales growthGross marginNet marginROEFCF marginDebt / equity
SPGI S&P Global$16.3B +7.9%71.0%30.6%25.3%35.8%0.79
PFG Principal Financial Group$16.6B -3.1%-11.9%16.7%-0.38
AFL Aflac$16.6B -9.3%-21.2%12.0%--
AJG Arthur J. Gallagher & Co.$16.4B +20.7%-10.4%7.1%-0.53
EG Everest Group$16.2B +1.2%-11.7%13.3%--
BX Blackstone Inc.$16.1B +9.2%-22.1%40.2%36.2%1.53

From $8.3B of sales to $3.0B of profit

FY2021, from the 10-K income statement
Revenue to Gross profit: $6.1BRevenue to Cost of revenue: $2.2BGross profit to Operating profit: $4.2BGross profit to Operating expenses: $1.9BOperating profit to Net profit: $3.0BOperating profit to Tax & other: $1.2B Revenue: $8.3B Revenue$8.3B +11% Y/Y Gross profit: $6.1B · 74% margin Gross profit$6.1B74% margin Cost of revenue: $2.2B · 26% of revenue Cost of revenue$2.2B26% of revenue Operating profit: $4.2B · 51% margin Operating profit$4.2B51% margin +17% Y/Y Operating expenses: $1.9B · 23% of revenue Operating expenses$1.9B23% of revenue Net profit: $3.0B · 36% margin Net profit$3.0B36% margin +29% Y/Y Tax & other: $1.2B · 14% of revenue Tax & other$1.2B14% of revenue

Swipe sideways for the whole flow →

From $11.2B of sales to $3.2B of profit

FY2022, from the 10-K income statement and revenue by product
Subscription to Revenue: $6.2BNon-subscription / Transaction to Revenue: $1.8BNon-transaction to Revenue: $1.6BAsset-linked fees to Revenue: $862.0MRecurring variable to Revenue: $385.0MSales usage-based royalties to Revenue: $286.0MRevenue to Gross profit: $7.4BRevenue to Cost of revenue: $3.8BGross profit to Operating profit: $4.9BGross profit to Operating expenses: $2.5BOperating profit to Net profit: $3.2BOperating profit to Tax & other: $1.7B Subscription: $6.2B · 55% Subscription$6.2B55% Non-subscription / Transaction: $1.8B · 16% Non-subscription / Tran…$1.8B16% Non-transaction: $1.6B · 15% Non-transaction$1.6B15% Asset-linked fees: $862.0M · 8% Asset-linked fees$862.0M8% Recurring variable: $385.0M · 3% Recurring variable$385.0M3% Sales usage-based royalties: $286.0M · 3% Sales usage-based royal…$286.0M3% Revenue: $11.2B Revenue$11.2B +35% Y/Y Gross profit: $7.4B · 66% margin Gross profit$7.4B66% margin Cost of revenue: $3.8B · 34% of revenue Cost of revenue$3.8B34% of revenue Operating profit: $4.9B · 44% margin Operating profit$4.9B44% margin +17% Y/Y Operating expenses: $2.5B · 22% of revenue Operating expenses$2.5B22% of revenue Net profit: $3.2B · 29% margin Net profit$3.2B29% margin +7% Y/Y Tax & other: $1.7B · 15% of revenue Tax & other$1.7B15% of revenue

Swipe sideways for the whole flow →

From $12.5B of sales to $2.6B of profit

FY2023, from the 10-K income statement and revenue by product
Subscription to Revenue: $7.0BNon-subscription / Transaction to Revenue: $2.1BNon-transaction to Revenue: $1.7BAsset-linked fees to Revenue: $859.0MRecurring variable to Revenue: $504.0MSales usage-based royalties to Revenue: $348.0MRevenue to Gross profit: $8.4BRevenue to Cost of revenue: $4.1BGross profit to Operating profit: $4.0BGross profit to Operating expenses: $4.3BOperating profit to Net profit: $2.6BOperating profit to Tax & other: $1.4B Subscription: $7.0B · 56% Subscription$7.0B56% Non-subscription / Transaction: $2.1B · 17% Non-subscription / Tran…$2.1B17% Non-transaction: $1.7B · 14% Non-transaction$1.7B14% Asset-linked fees: $859.0M · 7% Asset-linked fees$859.0M7% Recurring variable: $504.0M · 4% Recurring variable$504.0M4% Sales usage-based royalties: $348.0M · 3% Sales usage-based royal…$348.0M3% Revenue: $12.5B Revenue$12.5B +12% Y/Y Gross profit: $8.4B · 67% margin Gross profit$8.4B67% margin Cost of revenue: $4.1B · 33% of revenue Cost of revenue$4.1B33% of revenue Operating profit: $4.0B · 32% margin Operating profit$4.0B32% margin −19% Y/Y Operating expenses: $4.3B · 35% of revenue Operating expenses$4.3B35% of revenue Net profit: $2.6B · 21% margin Net profit$2.6B21% margin −19% Y/Y Tax & other: $1.4B · 11% of revenue Tax & other$1.4B11% of revenue

Swipe sideways for the whole flow →

From $14.2B of sales to $3.9B of profit

FY2024, from the 10-K income statement and revenue by product
Subscription to Revenue: $7.3BNon-subscription / Transaction to Revenue: $3.0BNon-transaction to Revenue: $1.9BAsset-linked fees to Revenue: $1.0BRecurring variable to Revenue: $579.0MSales usage-based royalties to Revenue: $393.0MRevenue to Gross profit: $9.8BRevenue to Cost of revenue: $4.4BGross profit to Operating profit: $5.6BGross profit to Operating expenses: $4.3BOperating profit to Net profit: $3.9BOperating profit to Tax & other: $1.7B Subscription: $7.3B · 52% Subscription$7.3B52% Non-subscription / Transaction: $3.0B · 21% Non-subscription / Tran…$3.0B21% Non-transaction: $1.9B · 13% Non-transaction$1.9B13% Asset-linked fees: $1.0B · 7% Asset-linked fees$1.0B7% Recurring variable: $579.0M · 4% Recurring variable$579.0M4% Sales usage-based royalties: $393.0M · 3% Sales usage-based royal…$393.0M3% Revenue: $14.2B Revenue$14.2B +14% Y/Y Gross profit: $9.8B · 69% margin Gross profit$9.8B69% margin Cost of revenue: $4.4B · 31% of revenue Cost of revenue$4.4B31% of revenue Operating profit: $5.6B · 39% margin Operating profit$5.6B39% margin +39% Y/Y Operating expenses: $4.3B · 30% of revenue Operating expenses$4.3B30% of revenue Net profit: $3.9B · 27% margin Net profit$3.9B27% margin +47% Y/Y Tax & other: $1.7B · 12% of revenue Tax & other$1.7B12% of revenue

Swipe sideways for the whole flow →

From $15.3B of sales to $4.5B of profit

FY2025, from the 10-K income statement and revenue by product
Subscription to Revenue: $7.9BNon-subscription / Transaction to Revenue: $3.1BNon-transaction to Revenue: $2.1BAsset-linked fees to Revenue: $1.2BRecurring variable to Revenue: $623.0MSales usage-based royalties to Revenue: $444.0MRevenue to Gross profit: $10.8BRevenue to Cost of revenue: $4.6BGross profit to Operating profit: $6.5BGross profit to Operating expenses: $4.3BOperating profit to Net profit: $4.5BOperating profit to Tax & other: $2.0B Subscription: $7.9B · 51% Subscription$7.9B51% Non-subscription / Transaction: $3.1B · 21% Non-subscription / Tran…$3.1B21% Non-transaction: $2.1B · 13% Non-transaction$2.1B13% Asset-linked fees: $1.2B · 8% Asset-linked fees$1.2B8% Recurring variable: $623.0M · 4% Recurring variable$623.0M4% Sales usage-based royalties: $444.0M · 3% Sales usage-based royal…$444.0M3% Revenue: $15.3B Revenue$15.3B +8% Y/Y Gross profit: $10.8B · 70% margin Gross profit$10.8B70% margin Cost of revenue: $4.6B · 30% of revenue Cost of revenue$4.6B30% of revenue Operating profit: $6.5B · 42% margin Operating profit$6.5B42% margin +16% Y/Y Operating expenses: $4.3B · 28% of revenue Operating expenses$4.3B28% of revenue Net profit: $4.5B · 29% margin Net profit$4.5B29% margin +16% Y/Y Tax & other: $2.0B · 13% of revenue Tax & other$2.0B13% of revenue

Swipe sideways for the whole flow →

Where each $100 of sales went

FY2021
FY2022
FY2023
FY2024
FY2025
  • Cost of revenue
  • Sales, admin & other
  • Tax & other
  • Net profit

Band widths are the money. Gross profit is revenue less cost of revenue; operating expenses are gross profit less operating profit; R&D is from the income statement and the rest of the operating expenses is everything else; tax includes interest and other items when they are small. Y/Y is the change from the fiscal year before. Revenue by part only for the years in the last two 10-Ks' segment tables. The full income statement →

Profitability

3 of 3
  • ✓
    Net margin above the peer median30.6% vs 20.4%
  • ✓
    Return on equity above 15%25.3%
  • ✓
    A profit in every one of 10 years
Net margin, FY2016 to FY2025: 37.2% → 29.2%

Balance sheet

3 of 4
  • ✓
    Interest covered more than 5 timesOperating income is 22.6× interest expense
  • ✓
    Debt smaller than equityDebt / equity 0.79 on the latest balance sheet (peer median 0.70)
  • !
    Current ratio below 1Current ratio 0.74
  • ✓
    Net debt under 3 years of free cash flow$13.0B net debt, 2.2 years
Debt / equity at each year end, FY2016 to FY2025: 5.48 → 0.44
What the debt is made of ↓

Cash and shareholders

3 of 4
  • ✓
    Free cash flow positive in every one of 10 years$5.5B last year
  • !
    Share count up over 5 years+26.0%
  • ✓
    Dividend per share up over 5 years$2.68 → $3.84
  • ✓
    Cash from operations above net income$5.7B vs $4.5B
Free cash flow, FY2016 to FY2025: 1.4B → 5.5B

Each tick is a fact with a fixed rule (on /methodology), not a score or advice. A check without the numbers it needs is left out.

What the debt is made of, and when it is due

balance sheet of Sep 30, 2026 · schedule of Dec 31, 2025
Debt: $15.5B Debt$15.5B Long-term debt: $13.1B · 84% Long-term debt$13.1B · 84% Short-term debt: $2.4B · 16% Short-term debt$2.4B · 16% Next 12 months: $3.0M · 0% Next 12 months$3.0M · 0% Year 2: $1.7B · 11% Year 2$1.7B · 11% Year 3: $784.0M · 5% Year 3$784.0M · 5% Year 4: $2.7B · 17% Year 4$2.7B · 17% Year 5: $596.0M · 4% Year 5$596.0M · 4% After year 5: $6.5B · 42% After year 5$6.5B · 42%

The debt note's own lines, 2025-12-31

Fixed rate $0Floating $715.0M Not stated $12.4B

Line, as the company names itKindRateFixed or floatingAmount
2.90% Senior Notes, due 2032 (Senior Notes)Notes and bonds2.90%not stated$1.5B
2.45% Senior Notes, due 2027 (Senior Notes)Notes and bonds2.45%not stated$1.2B
2.70% Sustainability-Linked Senior Notes, due 2029 (Senior Notes)Notes and bonds2.70%not stated$1.2B
4.25% Senior Notes, due 2029 (Senior Notes)Notes and bonds4.25%not stated$991.0M
3.7% Senior Notes, due 2052 (Senior Notes)Notes and bonds3.70%not stated$976.0M
4.75% Senior Notes, due 2028 (Senior Notes)Notes and bonds4.75%not stated$784.0M
5.25% Senior Notes due 2033 (Senior Notes)Notes and bonds5.25%not stated$744.0M
Commercial paperCommercial paper–floating$715.0M
2.3% Senior Notes, due 2060 (Senior Notes)Notes and bonds2.30%not stated$683.0M
1.25% Senior Notes, due 2030 (Senior Notes)Notes and bonds1.25%not stated$596.0M
4.25% Senior Notes, due 2031 (Senior Notes)Notes and bonds4.25%not stated$595.0M
3.25% Senior Notes, due 2049 (Senior Notes)Notes and bonds3.25%not stated$591.0M
2.95% Senior Notes, due 2027 (Senior Notes)Notes and bonds2.95%not stated$499.0M
2.5% Senior Notes, due 2029 (Senior Notes)Notes and bonds2.50%not stated$498.0M
3.9% Senior Notes, due 2062 (Senior Notes)Notes and bonds3.90%not stated$486.0M
4.80% Senior Notes, due 2035 (Senior Notes)Notes and bonds4.80%not stated$396.0M
6.55% Senior Notes, due 2037 (Senior Notes)Notes and bonds6.55%not stated$291.0M
4.5% Senior Notes, due 2048 (Senior Notes)Notes and bonds4.50%not stated$273.0M
4.0% Senior Notes, due 2026 (Senior Notes)Notes and bonds4.00%not stated$3.0M
All 19 lines

From the debt note in the 10-K's XBRL (0000064040-26-000013), as the company tags it: by issue, by year, by currency or by kind. Lines from two ways of cutting the same debt can overlap, so they are not added up. Fixed or floating is read from the line's own name only; "not stated" when it says neither.

Left: the debt lines on the balance sheet (XBRL). Right: the principal due each year, from the debt note's maturity schedule; it can differ a little from the balance sheet, which shows the debt net of discounts and fees. Leases are not counted. The full schedule →

Revenue and net income, FY2016 to FY2025

Revenue 15.3B Net income 4.5B
FY2016 revenue 5.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-19-000059 FY2016 net income 2.1B · NetIncomeLoss, 0000064040-19-000059 5.7B FY2016 FY2017 revenue 6.1B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-20-000055 FY2017 net income 1.5B · NetIncomeLoss, 0000064040-20-000055 6.1B FY2017 FY2018 revenue 6.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-21-000063 FY2018 net income 2.0B · NetIncomeLoss, 0000064040-21-000063 6.3B FY2018 FY2019 revenue 6.7B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-22-000055 FY2019 net income 2.1B · NetIncomeLoss, 0000064040-22-000055 6.7B FY2019 FY2020 revenue 7.4B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-23-000058 FY2020 net income 2.3B · NetIncomeLoss, 0000064040-23-000058 7.4B FY2020 FY2021 revenue 8.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-24-000071 FY2021 net income 3.0B · NetIncomeLoss, 0000064040-24-000071 8.3B FY2021 FY2022 revenue 11.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-24-000071 FY2022 net income 3.2B · NetIncomeLoss, 0000064040-24-000071 11.2B FY2022 FY2023 revenue 12.5B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-26-000013 FY2023 net income 2.6B · NetIncomeLoss, 0000064040-26-000013 12.5B FY2023 FY2024 revenue 14.2B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-26-000013 FY2024 net income 3.9B · NetIncomeLoss, 0000064040-26-000013 14.2B FY2024 FY2025 revenue 15.3B · RevenueFromContractWithCustomerExcludingAssessedTax, 0000064040-26-000013 FY2025 net income 4.5B · NetIncomeLoss, 0000064040-26-000013 15.3B FY2025

From XBRL in each 10-K. Hover a bar for the line item and filing. Full financials →

SPGI's income statement, balance sheet and cash flow as reported to the SEC in XBRL, one column per fiscal year. Hover a number to see the line item and filing it comes from. Where a company changed how it tags a line, the first tag it reported for that period is used. A number looks wrong? Tell us.

Annual Quarterly
Revenue15.3B
FY2016: 5.7BFY2017: 6.1BFY2018: 6.3BFY2019: 6.7BFY2020: 7.4BFY2021: 8.3BFY2022: 11.2BFY2023: 12.5BFY2024: 14.2BFY2025: 15.3B FY2017FY2019FY2021FY2023FY2025
Net income4.5B
FY2016: 2.1BFY2017: 1.5BFY2018: 2.0BFY2019: 2.1BFY2020: 2.3BFY2021: 3.0BFY2022: 3.2BFY2023: 2.6BFY2024: 3.9BFY2025: 4.5B FY2017FY2019FY2021FY2023FY2025
Free cash flow5.5B
FY2016: 1.4BFY2017: 1.9BFY2018: 2.0BFY2019: 2.7BFY2020: 3.5BFY2021: 3.6BFY2022: 2.5BFY2023: 3.6BFY2024: 5.6BFY2025: 5.5B FY2017FY2019FY2021FY2023FY2025
EPS (diluted)14.66
FY2016: 7.94FY2017: 5.78FY2018: 7.73FY2019: 8.60FY2020: 9.66FY2021: 12.51FY2022: 10.20FY2023: 8.23FY2024: 12.35FY2025: 14.66 FY2017FY2019FY2021FY2023FY2025
Dividend per share3.84
FY2016: 1.44FY2017: 1.64FY2018: 2.00FY2019: 2.28FY2020: 2.68FY2021: 3.08FY2022: 3.32FY2023: 3.60FY2024: 3.64FY2025: 3.84 FY2017FY2019FY2021FY2023FY2025
Diluted shares305.1M
FY2016: 265.2MFY2017: 258.9MFY2018: 253.2MFY2019: 246.9MFY2020: 242.1MFY2021: 241.8MFY2022: 318.5MFY2023: 318.9MFY2024: 311.9MFY2025: 305.1M FY2017FY2019FY2021FY2023FY2025

The segments changed

10-K filed 2026-02-11

Compared with the 10-K of Feb 11, 2025: new segment Energy; no longer reported: Commodity Insights.

When a company changes its segments, the years before are usually recast, so growth by segment is not comparable with what earlier 10-Ks showed. Found by comparing the segments with revenue in the last two 10-Ks (XBRL) and by the 10-K's own words, without AI.

Revenue by business segment

year to Dec 31, 2025
RevenueSharevs year before
Market Intelligence 4.9B32.0% +5.8%
Ratings 4.5B29.7% +8.1%
Energy 2.3B15.0% +7.3%
Indices 1.8B12.0% +13.7%
Mobility 1.7B11.4% +8.6%
Engineering Solutions 00.0% -

10-K 0000064040-26-000013, segment and revenue notes (XBRL).

Revenue by product or service

year to Dec 31, 2025
RevenueSharevs year before
Subscription 7.9B51.3% +7.1%
Non-subscription / Transaction 3.1B20.5% +5.3%
Non-transaction 2.1B13.4% +10.5%
Asset-linked fees 1.2B7.9% +15.3%
Recurring variable 623.0M4.1% +7.6%
Sales usage-based royalties 444.0M2.9% +13.0%

10-K 0000064040-26-000013, segment and revenue notes (XBRL).

Revenue by region

year to Dec 31, 2025
RevenueSharevs year before
U.S. 9.3B60.8% +7.9%
European region 3.5B23.0% +8.4%
Asia 1.6B10.7% +10.0%
Rest of the world 843.0M5.5% +2.7%

10-K 0000064040-26-000013, segment and revenue notes (XBRL).

Income statement

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue5.7B6.1B6.3B6.7B7.4B8.3B11.2B12.5B14.2B15.3B
Cost of revenue1.8B1.7B1.8B2.0B2.1B2.2B3.8B4.1B4.4B4.6B
SG&A1.5B1.6B1.4B1.3B1.5B1.7B3.4B3.2B3.2B3.4B
Operating income3.3B2.6B2.8B3.2B3.6B4.2B4.9B4.0B5.6B6.5B
Interest expense181.0M149.0M134.0M141.0M141.0M119.0M304.0M334.0M297.0M287.0M
Pretax income3.2B2.5B2.7B2.9B3.2B4.2B4.7B3.7B5.3B6.2B
Income tax960.0M823.0M560.0M627.0M694.0M901.0M1.2B778.0M1.1B1.4B
Net income2.1B1.5B2.0B2.1B2.3B3.0B3.2B2.6B3.9B4.5B
EPS (diluted)7.945.787.738.609.6612.5110.208.2312.3514.66
Diluted shares265.2M258.9M253.2M246.9M242.1M241.8M318.5M318.9M311.9M305.1M
Depreciation & amortization181.0M180.0M206.0M204.0M206.0M178.0M1.0B1.1B1.2B1.2B
EBITDA3.5B2.8B3.0B3.4B3.8B4.4B6.0B5.2B6.8B7.7B
Operating margin59.0%42.6%44.6%48.2%48.6%50.9%44.2%32.2%39.3%42.2%
Net margin37.2%24.7%31.3%31.7%31.4%36.4%29.0%21.0%27.1%29.2%
Revenue growth-+7.1%+3.2%+7.0%+11.1%+11.5%+34.8%+11.8%+13.7%+7.9%
EPS growth--27.2%+33.7%+11.3%+12.3%+29.5%-18.5%-19.3%+50.1%+18.7%

Balance sheet

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash2.4B2.8B1.9B2.9B4.1B6.5B1.3B1.3B1.7B1.7B
Short-term investments8.0M12.0M18.0M28.0M9.0M11.0M14.0M26.0M20.0M56.0M
Receivables1.1B1.3B1.4B1.6B1.6B1.6B2.5B2.8B2.9B3.2B
Current assets3.7B4.3B3.6B4.7B6.0B8.8B5.7B5.1B5.5B6.3B
Property & equipment271.0M275.0M270.0M320.0M284.0M241.0M297.0M258.0M265.0M259.0M
Goodwill2.9B3.0B3.5B3.6B3.7B3.5B34.5B34.9B34.9B27.6B
Total assets8.7B9.4B9.4B11.3B12.5B15.0B61.8B60.6B60.2B61.2B
Accounts payable183.0M195.0M211.0M190.0M233.0M205.0M450.0M557.0M553.0M555.0M
Current liabilities2.6B3.2B2.6B3.1B3.6B3.8B6.0B6.1B6.4B7.6B
Total debt3.6B3.6B3.7B3.9B4.1B4.1B11.2B11.5B11.4B13.8B
Total liabilities6.9B7.3B7.1B8.5B9.2B9.5B22.0B22.5B22.7B25.0B
Shareholders' equity650.0M709.0M628.0M479.0M509.0M2.0B36.4B34.2B33.2B31.1B
Retained earnings9.2B10.0B11.3B12.2B13.4B15.0B17.8B18.7B21.0B23.7B

Cash flow

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow1.6B2.0B2.1B2.8B3.6B3.6B2.6B3.7B5.7B5.7B
Capital spending115.0M123.0M113.0M115.0M76.0M35.0M89.0M143.0M124.0M195.0M
Free cash flow1.4B1.9B2.0B2.7B3.5B3.6B2.5B3.6B5.6B5.5B
Stock-based pay (added back)76.0M99.0M94.0M78.0M90.0M122.0M214.0M171.0M247.0M236.0M
Dividends paid380.0M421.0M503.0M560.0M645.0M743.0M1.0B1.1B1.1B1.2B
Buybacks1.1B1.0B1.7B1.2B1.2B012.0B3.3B3.3B5.0B
Acquisitions177.0M83.0M-91.0M201.0M99.0M-210.0M296.0M305.0M2.0B
Debt raised493.0M0489.0M1.1B1.3B05.4B744.0M0993.0M
Debt repaid421.0M0403.0M868.0M1.4B0142.0M047.0M4.0M
Investing cash flow1.2B-209.0M-513.0M-131.0M-240.0M-120.0M3.6B562.0M-255.0M-704.0M
Financing cash flow-1.7B-1.5B-2.3B-1.8B-2.2B-1.0B-11.3B-4.3B-5.0B-4.9B
Dividend per share1.441.642.002.282.683.083.323.603.643.84

Stock-based pay and leases

From EDGAR
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Stock-based pay (expense)76.0M99.0M94.0M78.0M90.0M122.0M214.0M171.0M247.0M236.0M
Stock-based pay / revenue1.3%1.6%1.5%1.2%1.2%1.5%1.9%1.4%1.7%1.5%
Operating lease cost---157.0M144.0M124.0M147.0M134.0M129.0M112.0M
Operating lease cash paid---146.0M137.0M127.0M159.0M149.0M140.0M141.0M
Right-of-use assets--0676.0M494.0M426.0M423.0M379.0M413.0M397.0M
Operating lease liabilities---732.0M644.0M588.0M695.0M646.0M644.0M618.0M

From SEC's XBRL company facts (data.sec.gov). EBITDA = operating income + depreciation and amortization; free cash flow = operating cash flow - capital spending; total debt = long-term debt (with its current part) + short-term borrowings. Stock-based pay and leases are shown as the company reports them; Tickdelta does not take them out of earnings or add leases to debt. Click a number to open the filing in SEC's Inline XBRL viewer, where you can click the same number to see how it is tagged. Values a company later revised show as revised; the Revised numbers tab lists the changes.

Work on SPGI in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/SPGI/export.csv") into a cell.