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S&P Global SPGI Q4 2025 Annual earnings

Reported February 10, 2026 · Before market open

Revenue$3.9BBeat by $7.6M
EPS$4.30Miss by $0.03
Revenue estimate$3.9B
EPS estimate$4.33

Next report

Oct 27, 2026 (In 3 weeks)
Revenue estimate$3.6B
EPS estimate$4.43

Financials

Q4 2025

Income statement

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Revenue$3.9B+9.0%
Gross profit$2.7B+10.8%
Operating income$1.7B+27.9%
Net income$1.1B+28.9%
EPS (diluted)$3.76+31.9%

Balance sheet

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Cash & equivalents$1.7B+4.7%
Total debt$13.7B+13.8%
Total equity$31.1B-6.1%
Total assets$61.2B+1.6%

Cash flow

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Operating cash flow$1.7B+0.5%
CapEx$46.0M+39.4%
Free cash flow$1.7B-0.3%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$158.24B+2.4%
Enterprise value$170.2B+3.2%
P/E35.4×-4.7×
P/S10.3×-0.6×

Profitability

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Gross margin70.2%+1.2pp
Operating margin42.2%+3.0pp
Net margin29.2%+2.0pp
FCF margin35.6%-3.6pp

Returns & leverage

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Return on equity13.9%+2.5pp
Debt / equity0.4×+0.1×
Current ratio0.8×0.0×

Segments

By product

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Subscription$2.0B+7.8%
Non-subscription / Transaction$738.0M+8.4%
Non-transaction$549.0M+11.4%
Asset-linked fees$330.0M+13.8%
Recurring variable revenue$156.0M+4.7%

By segment

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Market Intelligence$1.3B+6.5%
Ratings$1.2B+11.7%
Indices$498.0M+14.5%

By geography

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Europe$935.0M+10.1%
Asia$419.0M+10.3%
Rest Of World$213.0M+6.0%

FAQ

When did S&P Global report Q4 2025 earnings?
S&P Global (SPGI) reported Q4 2025 earnings on February 10, 2026 before market open.
What were S&P Global's Q4 2025 revenue and EPS?
S&P Global reported revenue of $3.9B and eps of $4.30 for Q4 2025.
Did S&P Global beat estimates in Q4 2025?
Revenue beat the consensus estimate of $3.9B by $7.6M. EPS missed the consensus estimate of $4.33 by $0.03.
How did S&P Global's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 9.0% from $3.6B a year earlier and eps grew 14.1% from $3.77.
Where can I find S&P Global's Q4 2025 SEC filings?
You can read the 8-K earnings release (0000064040-26-000007) and the 10-K periodic report (0000064040-26-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.