S&P Global Inc. Website

S&P Global Inc.

NYSE-SPGI

Company Overview

S&P Global Inc., together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions. The S&P Global Ratings division operates as an independent provider of credit ratings, research, and analytics, offering investors and other market participants information, ratings, and benchmarks. The S&P Dow Jones Indices division is an index provider that maintains various valuation and index benchmarks for investment advisors, wealth managers, and institutional investors. The S&P Global Commodity Insights division offers data and insights for global energy and commodity markets and enable its customers to make decisions. The S&P Global Market Intelligence division delivers data and technology solutions for customers to provide insights for making decisions. It offers data and services that bring end-to-end workflow solutions, including capital formation, data and distribution, ESG and sustainability, leveraged loans, private markets, sector coverage, supply chain, and issuer solutions, as well as credit, risk, and regulatory solutions. The S&P Global Mobility division provides insights derived from unmatched automotive data, enabling its customers to anticipate change and make decisions. The S&P Global Engineering Solutions division offers engineering expertise and solutions in industries, such as aerospace and defense, energy, architecture, construction, and transportation. Its solutions empower business and technical leaders to transform workflows and make decisions. S&P Global Inc. was founded in 1860 and is headquartered in New York, New York.

  • Name

    S&P Global Inc.

  • CEO

    Martina L. Cheung

  • Website

    www.spglobal.com

  • Sector

    Capital Markets

  • Year Founded

    1860

Company Statistics

Profile

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Dividends

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Bulls Say

  • Ratings revenue, which has high incremental margins, has often surprised to the upside, such as in 2020, 2021, and 2024. In addition, refinancing walls could support stronger than expected issuance.

  • The spinoff of Mobility (Carfax) may strengthen management's focus and accelerate organic subscription revenue growth.

  • S&P Global's benchmarks are difficult to displace and value-based pricing could result in a greater than expected pricing power and margin growth.

Bears Say

  • Higher interest rates, corporate deleveraging, and increased spreads could lead to a decline in bond issuance, which would weigh on ratings revenue. Notably, spreads in 2024 and 2025 for high-yield were lower than usual, indicating relatively loose credit conditions.

  • Market intelligence faces a variety of competitors such as FactSet, LSEG, and Bloomberg, and a tougher macro environment could elongate sales cycles. Also, the rise of AI could lower the barrier to entry for competitors.

  • The rise of private credit poses a challenge for rating agencies, as private credit is often unrated.

Source: Morningstar Analysis - Nov 14, 2025

What's happening

Nov 6, 2025 - Dec 6, 2025

S&P Global Inc. Faces Mixed Signals Amid Debt Concerns and Growth Strategy

  • S&P Global Inc. announced a $1 billion debt offering, raising investor concerns about financial strain.
  • The company outlined ambitious revenue growth targets at its Investor Day event, including a share repurchase program of up to 30 million shares.
  • Macroeconomic data revealed mixed manufacturing conditions globally, impacting sentiment around SPGI's business segments.

Over the past month, S&P Global Inc. (SPGI) experienced a slight overall increase of 0.3% in its stock performance, which is notably lower than the S&P 500's return of 1.2%. This underperformance reflects both broader market trends and specific developments that influenced investor sentiment during this period.

Several bearish events significantly impacted SPGI's stock value. The announcement of a $1 billion debt offering raised concerns among investors regarding potential financial strain due to senior notes maturing in both 2031 and 2035. The proceeds from this offering were designated for general corporate purposes such as acquisitions and refinancing existing debt, contributing to apprehension about future cash flow management. Additionally, the company's decision to go ex-dividend further dampened sentiment; such moves often signal caution among income-focused investors.

Conversely, there were bullish developments that provided some support for SPGI’s stock price during this timeframe. At an Investor Day event, the company presented its growth strategy with ambitious targets for revenue growth and shareholder returns through share repurchase programs totaling up to 30 million shares. This commitment was viewed favorably by some investors despite other negative indicators surrounding manufacturing activity reported across various regions.

Macroeconomic data released during this period revealed mixed signals regarding global manufacturing conditions; while certain areas like Australia and South Korea showed resilience with stable PMIs, North America faced significant declines in orders—highlighting challenges faced by manufacturers that could indirectly affect SPGI’s business segments tied to economic health.

Overall, these dynamics illustrate how S&P Global Inc.'s performance has been shaped by both internal strategic decisions and external economic factors over the last month. Ultimately, SPGI underperformed relative not only to the broader market but also within its sector; specifically noted is that S&P Global Inc underperformed the Financials (XLF) sector by -1.8%.

NYSE:SPGI