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S&P Global SPGI Operating margin

Operating margin at other companies

Moody's logo
Moody'sMCO
43.5%+3.1pp
Nasdaq, Inc. logo
Nasdaq, Inc.NDAQ
29.4%+4.6pp
Intercontinental Exchange logo
Intercontinental ExchangeICE
41.1%+4.4pp
Broadridge Financial Solutions logo
Broadridge Financial SolutionsBR
17.1%+0.4pp
Equifax logo
EquifaxEFX
18.3%-0.1pp
Cboe Global Markets logo
Cboe Global MarketsCBOE
33.8%+6.8pp

Other financials

Income statement

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Revenue$4.2B+10.4%
Gross profit$2.9B+11.9%
Operating income$2.0B+26.9%
Net income$1.4B+28.0%
EPS (diluted)$4.69+32.5%

Balance sheet

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Cash & equivalents$1.8B+23.2%
Total debt$11.2B-6.8%
Total equity$31.2B-6.6%
Total assets$60.8B+1.5%

Cash flow

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Operating cash flow$1.0B+8.8%
CapEx$27.0M-37.2%
Free cash flow$1.0B+11.0%

Valuation

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Market cap$123.73B-18.4%
Enterprise value$133.13B-18.0%
P/E25.9×-12.5×
P/S7.9×-2.6×

Profitability

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Gross margin70.5%+0.9pp
Net margin30.4%+3.1pp

Returns & leverage

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Return on equity14.8%+3.1pp
Debt / equity0.4×0.0×
Current ratio0.7×-0.2×

Where this comes from

Calculated from S&P Global’s reported figures.

Based on trailing twelve months.

The official record: S&P Global’s 10-Q, filed April 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is S&P Global's operating margin?
S&P Global (SPGI) reported operating margin of 43.9% in Q1 2026.
How has S&P Global's operating margin changed year-over-year?
S&P Global's operating margin increased by 10.2% year-over-year, from 39.8% to 43.9%.
What is the long-term trend for S&P Global's operating margin?
Over 4 years (2021 to 2025), S&P Global's operating margin has grown at a -4.8% compound annual growth rate (CAGR), from 198.4% to 162.7%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.