S&P Global SPGI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Indices | $519M+16.6% | $498M+14.5% | $462M+11.1% | $446M+14.7% | $445M+15.0% | |
| Market Intelligence | $1.3B+8.1% | $1.26B+6.5% | $1.24B+6.4% | $1.22B+5.4% | $1.2B+5.0% | |
| Mobility | $454M+8.1% | $444M+8.0% | $445M+8.0% | $438M+9.5% | $420M+8.8% | |
| Ratings | $1.3B+13.3% | $1.19B+11.7% | $1.24B+11.7% | $1.15B+1.1% | $1.15B+8.2% | |
| Revenue by Product | ||||||
| Asset-linked fees | $339M+17.7% | $330M+13.8% | $303M+13.9% | $286M+16.7% | $288M+18.0% | |
| Non-subscription / Transaction | $978M+15.1% | $738M+8.4% | $812M+10.5% | $745M-4.1% | $850M+7.1% | |
| Non-transaction | $538M+11.9% | $549M+11.4% | $521M+11.8% | $502M+8.4% | $481M+10.6% | |
| Recurring variable revenue | $169M+12.7% | $156M+4.7% | $158M+11.3% | $158M+7.5% | $150M+6.4% | |
| Sales usage-based royalties | $133M+20.9% | $115M+18.6% | $108M+5.9% | $110M+14.6% | $110M+11.1% | |
| Subscription | $2.01B+6.1% | $2.03B+7.8% | $1.99B+6.5% | $1.95B+7.3% | $1.9B+6.7% | |
| Revenue by Geography | ||||||
| Asia | $430M+12.6% | $419M+10.3% | $430M+10.8% | $408M+10.9% | $382M+7.3% | |
| Europe | $895M+5.4% | $935M+10.1% | $885M+10.3% | $863M+4.0% | $849M+9.4% | |
| Rest Of World | $221M+8.3% | $213M+6.0% | $211M+1.0% | $215M+7.5% | $204M-2.4% | |
| UNITED STATES | $2.63B+12.1% | $2.35B+8.6% | $2.36B+8.5% | $2.27B+5.5% | $2.34B+8.9% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does S&P Global break its business down?
- S&P Global (SPGI) reports revenue by business across 4 parts — Indices, Market Intelligence, Mobility and Ratings. Each is extracted from the segment footnotes and tracked over time.
- Where does S&P Global's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in S&P Global's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
