S&P Global SPGI Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Indices | $519M+4.2% | $498M+7.8% | $462M+3.6% | $446M+0.2% | $445M+2.3% | |
| Market Intelligence | $1.3B+2.6% | $1.26B+2.2% | $1.24B+1.6% | $1.22B+1.5% | $1.2B+1.1% | |
| Mobility | $454M+2.3% | $444M-0.2% | $445M+1.6% | $438M+4.3% | $420M+2.2% | |
| Ratings | $1.3B+9.7% | $1.19B-4.3% | $1.24B+8.0% | $1.15B-0.1% | $1.15B+8.1% | |
| Revenue by Product | ||||||
| Asset-linked fees | $339M+2.7% | $330M+8.9% | $303M+5.9% | $286M-0.7% | $288M-0.7% | |
| Non-subscription / Transaction | $978M+32.5% | $738M-9.1% | $812M+9.0% | $745M-12.4% | $850M+24.8% | |
| Non-transaction | $538M-2.0% | $549M+5.4% | $521M+3.8% | $502M+4.4% | $481M-2.4% | |
| Recurring variable revenue | $169M+8.3% | $156M-1.3% | $158M0.0% | $158M+5.3% | $150M+0.7% | |
| Sales usage-based royalties | $133M+15.7% | $115M+6.5% | $108M-1.8% | $110M0.0% | $110M+13.4% | |
| Subscription | $2.01B-0.7% | $2.03B+2.1% | $1.99B+1.6% | $1.95B+3.0% | $1.9B+0.9% | |
| Revenue by Geography | ||||||
| Asia | $430M+2.6% | $419M-2.6% | $430M+5.4% | $408M+6.8% | $382M+0.5% | |
| Europe | $895M-4.3% | $935M+5.6% | $885M+2.5% | $863M+1.6% | $849M0.0% | |
| Rest Of World | $221M+3.8% | $213M+0.9% | $211M-1.9% | $215M+5.4% | $204M+1.5% | |
| UNITED STATES | $2.63B+11.7% | $2.35B-0.6% | $2.36B+4.1% | $2.27B-3.1% | $2.34B+8.3% |
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.
