S&P Global SPGI Business Segments
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Business | ||||||
| Indices | $1.93B+4.0% | $1.85B+3.5% | $1.79B+2.6% | $1.74B+3.4% | $1.69B+3.6% | |
| Market Intelligence | $5.01B+2.0% | $4.92B+1.6% | $4.84B+1.6% | $4.76B+1.3% | $4.7B+1.2% | |
| Mobility | $1.78B+1.9% | $1.75B+1.9% | $1.71B+2.0% | $1.68B+2.3% | $1.64B+2.1% | |
| Ratings | $4.88B+3.2% | $4.72B+2.7% | $4.6B+2.9% | $4.47B+0.3% | $4.46B+2.0% | |
| Less: other segment items by Business | ||||||
| Indices | $43M+4.9% | $41M+7.9% | $38M+2.7% | $37M-7.5% | $40M-2.4% | |
| Market Intelligence | $502M-26.2% | $680M+1.6% | $669M+3.4% | $647M+3.4% | $626M-1.7% | |
| Mobility | $331M+4.1% | $318M+2.3% | $311M-0.3% | $312M-1.0% | $315M-0.3% | |
| Ratings | $63M-4.5% | $66M+8.2% | $61M+8.9% | $56M+36.6% | $41M-8.9% | |
| Operating profit by Business | ||||||
| Indices | $1.33B+4.5% | $1.27B+3.5% | $1.23B+2.9% | $1.19B+4.0% | $1.15B+3.9% | |
| Market Intelligence | $1.21B+22.2% | $991M+0.9% | $982M+5.0% | $935M+3.2% | $906M+3.5% | |
| Ratings | $3.14B+4.1% | $3.01B+3.3% | $2.92B+5.2% | $2.78B-0.4% | $2.79B+2.9% | |
| Total Assets by Business | ||||||
| Indices | $23.19B+0.6% | $23.05B+0.8% | $22.88B— | —— | —— | |
| Market Intelligence | $28.85T0.0% | $28.85T0.0% | $28.85T— | —— | —— | |
| Mobility | $47.62B-0.5% | $47.87B-0.5% | $48.12B— | —— | —— | |
| Ratings | $4.94B+1.2% | $4.88B+1.7% | $4.79B— | —— | —— | |
| Significant expenses by Business | ||||||
| Indices | $554M+2.8% | $539M+3.3% | $522M+2.0% | $512M+2.8% | $498M+3.3% | |
| Market Intelligence | $3.3B+1.7% | $3.24B+1.8% | $3.19B+0.2% | $3.18B+0.4% | $3.17B+1.2% | |
| Mobility | $1.07B+1.3% | $1.05B+1.9% | $1.03B+1.4% | $1.02B+1.7% | $1B+1.9% | |
| Ratings | $1.68B+1.9% | $1.65B+1.5% | $1.62B-1.1% | $1.64B+0.5% | $1.63B+0.8% | |
| Initial Charge Recorded by Business | ||||||
| Ratings | $30M+76.5% | $17M— | —— | —— | —— | |
| Restructuring reserve balance by Business | ||||||
| Indices | $8M+60.0% | $5M+400% | $1M0.0% | $1M-50.0% | $2M-50.0% | |
| Market Intelligence | $84M-14.3% | $98M-19.0% | $121M+1.7% | $119M-6.3% | $127M-10.6% | |
| Ratings | $16M+6.7% | $15M+15.4% | $13M+18.2% | $11M+37.5% | $8M-27.3% | |
| Restructuring Charges by Business | ||||||
| Energy | $33.25M+75.0% | $19M— | —— | —— | —— | |
| Revenue by Product | ||||||
| Asset-linked fees | $1.26B+4.2% | $1.21B+3.4% | $1.17B+3.3% | $1.13B+3.8% | $1.09B+4.2% | |
| Non-subscription / Transaction | $3.27B+4.1% | $3.15B+1.8% | $3.09B+2.6% | $3.01B-1.1% | $3.04B+1.9% | |
| Non-transaction | $2.11B+2.8% | $2.05B+2.8% | $2B+2.8% | $1.94B+2.0% | $1.9B+2.5% | |
| Recurring variable revenue | $641M+3.1% | $622M+1.1% | $615M+2.7% | $599M+1.9% | $588M+1.6% | |
| Sales usage-based royalties | $466M+5.2% | $443M+4.2% | $425M+1.4% | $419M+3.5% | $405M+2.8% | |
| Subscription | $7.98B+1.5% | $7.87B+1.9% | $7.72B+1.6% | $7.6B+1.8% | $7.47B+1.6% | |
| Revenue by Geography | ||||||
| Asia | $1.69B+2.9% | $1.64B+2.4% | $1.6B+2.7% | $1.56B+2.6% | $1.52B+1.7% | |
| Europe | $3.58B+1.3% | $3.53B+2.5% | $3.45B+2.5% | $3.36B+1.0% | $3.33B+2.2% | |
| Rest Of World | $860M+2.0% | $843M+1.4% | $831M+0.2% | $829M+1.8% | $814M-0.6% | |
| UNITED STATES | $9.61B+3.0% | $9.32B+2.0% | $9.14B+2.1% | $8.95B+1.3% | $8.83B+2.2% |
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.
