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% | |
| Less: other segment items by Business | ||||||
| Energy | $35M— | —— | —— | —— | $39M-1.3% | |
| Indices | $11M-8.3% | $12M+9.1% | $11M+22.2% | $9M0.0% | $9M0.0% | |
| Market Intelligence | -$4M-102% | $172M+5.5% | $163M-4.7% | $171M-1.7% | $174M+8.1% | |
| Mobility | $89M+4.7% | $85M+11.8% | $76M-6.2% | $81M+6.6% | $76M-2.6% | |
| Ratings | $1M-91.7% | $12M-7.7% | $13M-64.9% | $37M+825% | $4M-42.9% | |
| Operating profit by Business | ||||||
| Energy | $287M— | —— | —— | —— | $255M+20.7% | |
| Indices | $372M+12.7% | $330M+4.1% | $317M+2.6% | $309M-1.9% | $315M+9.8% | |
| Market Intelligence | $440M+87.2% | $235M-15.2% | $277M+6.9% | $259M+17.7% | $220M-2.7% | |
| Ratings | $881M+22.0% | $722M-11.8% | $819M+14.5% | $715M-5.5% | $757M+20.7% | |
| Total Assets by Business | ||||||
| Energy | $8.43B-1.4% | $8.54B— | —— | —— | —— | |
| Indices | $3.44B+1.7% | $3.38B-74.0% | $12.98B+282% | $3.4B+3.0% | $3.3B+3.0% | |
| Market Intelligence | $30.98B-0.8% | $31.23B-99.9% | $28.76T+99,980% | $28.74B-1.0% | $29.04B-1.5% | |
| Mobility | $12.91B-0.5% | $12.97B+49.7% | $8.67B-33.7% | $13.07B-0.7% | $13.16B-0.5% | |
| Ratings | $1.29B+13.8% | $1.14B-3.6% | $1.18B-10.9% | $1.32B+7.3% | $1.23B+16.9% | |
| Significant expenses by Business | ||||||
| Energy | $330M— | —— | —— | —— | $318M+11.7% | |
| Indices | $136M-12.8% | $156M+16.4% | $134M+4.7% | $128M+5.8% | $121M-12.9% | |
| Market Intelligence | $860M+0.5% | $856M+7.5% | $796M+1.1% | $787M-2.2% | $805M+0.8% | |
| Mobility | $272M-5.6% | $288M+14.3% | $252M-0.4% | $253M-1.9% | $258M-3.7% | |
| Ratings | $420M-7.3% | $453M+11.0% | $408M+3.0% | $396M+2.1% | $388M-9.6% | |
| Initial Charge Recorded by Business | ||||||
| Indices | $4M+33.3% | $3M— | —— | —— | $1M— | |
| Market Intelligence | $56M— | —— | —— | —— | $77M— | |
| Ratings | $17M+143% | $7M— | $0-100% | $6M+50.0% | $4M— | |
| Restructuring reserve balance by Business | ||||||
| Indices | $3M-25.0% | $4M+300% | $1M— | $0— | $0— | |
| Market Intelligence | $12M-52.0% | $25M+8.7% | $23M-4.2% | $24M-7.7% | $26M-45.8% | |
| Ratings | $3M-40.0% | $5M+66.7% | $3M-40.0% | $5M+150% | $2M-33.3% | |
| Restructuring Charges by Business | ||||||
| Energy | $19M+300% | $4.75M0.0% | $4.75M0.0% | $4.75M0.0% | $4.75M— | |
| Mobility | $15M— | —— | —— | —— | $6M— | |
| Restructuring Reserve by Business | ||||||
| Energy | $8M-33.3% | $12M— | —— | —— | —— | |
| Mobility | $7M-36.4% | $11M— | —— | —— | —— | |
| 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.
