Business Segments · Significant expenses
Ratings — Significant expenses
S&P Global Ratings — Significant expenses increased by 3.0% to $408.00M in Q3 2025 compared to the prior quarter. Year-over-year, this metric declined by 4.2%, from $426.00M to $408.00M. Over 2 years (FY 2022 to FY 2024), Ratings — Significant expenses shows an upward trend with a 9.9% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
StatementSegment
CategoryProfitability
SignalLower is better
VolatilityVolatile
First reportedQ1 2022
Last reportedQ3 2025
How to read this metric
An increase suggests unexpected operational challenges or large-scale investments that may temporarily compress margins.
Detailed definition
The aggregate of material operating costs incurred by the ratings segment, excluding standard operating expenses. This c...
Peer comparison
Similar to 'special items' or 'non-recurring expenses' reported by peers in the financial services sector.
Metric ID:
spgi_segment_ratings_significant_expensesHistorical Data
15 periods
| 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 | $335.00M | $335.00M | $335.00M | $335.00M | $362.25M | $362.25M | $362.25M | $362.25M | $375.00M | $388.00M | $426.00M | $428.00M | $388.00M | $396.00M | $408.00M |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +8.1% | +0.0% | +0.0% | +0.0% | +3.5% | +3.5% | +9.8% | +0.5% | -9.3% | +2.1% | +3.0% |
| YoY Change | — | — | — | — | +8.1% | +8.1% | +8.1% | +8.1% | +3.5% | +7.1% | +17.6% | +18.2% | +3.5% | +2.1% | -4.2% |
Range$335.00M – $428.00M
CAGR+5.8%
Avg YoY Growth+7.3%
Median YoY Growth+8.1%
Current Streak2 quarters growth
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Frequently Asked Questions
- What is S&P Global's ratings — significant expenses?
- S&P Global (SPGI) reported ratings — significant expenses of $408.00M in Q3 2025.
- How has S&P Global's ratings — significant expenses changed year-over-year?
- S&P Global's ratings — significant expenses decreased by 4.2% year-over-year, from $426.00M to $408.00M.
- What is the long-term trend for S&P Global's ratings — significant expenses?
- Over 2 years (2022 to 2024), S&P Global's ratings — significant expenses has grown at a 9.9% compound annual growth rate (CAGR), from $1.34B to $1.62B.
- What does ratings — significant expenses mean?
- Large, non-recurring costs that significantly impact the ratings segment's operating expenses.