S&P Global Non Subscription Transaction — Revenue increased by 9.0% to $812.00M in Q3 2025 compared to the prior quarter. Year-over-year, this metric grew by 10.5%, from $735.00M to $812.00M. Over 3 years (FY 2021 to FY 2024), Non Subscription Transaction — Revenue shows an upward trend with a 8.7% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
An increase suggests high market activity and strong demand for credit ratings or transaction-based services, while a decrease indicates a slowdown in capital market issuance or reduced deal flow.
This metric represents revenue generated from non-recurring, event-driven activities such as credit rating issuances, tr...
Comparable to transaction-based revenue or issuance-related fees at other financial data providers, credit rating agencies, or investment banking service firms.
spgi_segment_non_subscription_transaction_revenue| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $633.00M | $566.00M | $528.00M | $512.00M | $492.00M | $388.00M | $415.00M | $598.00M | $525.00M | $477.00M | $493.00M | $794.00M | $777.00M | $735.00M | $680.00M | $850.00M | $745.00M | $812.00M |
| QoQ Change | — | -10.6% | -6.7% | -3.0% | -3.9% | -21.1% | +7.0% | +44.1% | -12.2% | -9.1% | +3.4% | +61.1% | -2.1% | -5.4% | -7.5% | +25.0% | -12.4% | +9.0% |
| YoY Change | — | — | — | — | -22.3% | -31.4% | -21.4% | +16.8% | +6.7% | +22.9% | +18.8% | +32.8% | +48.0% | +54.1% | +37.9% | +7.1% | -4.1% | +10.5% |
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