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% | |
| Less: other segment items by Business | ||||||
| Energy | $35M-10.3% | —— | —— | —— | $39M-1.3% | |
| Indices | $11M+22.2% | $12M+33.3% | $11M+10.0% | $9M-25.0% | $9M-10.0% | |
| Market Intelligence | -$4M-102% | $172M+6.8% | $163M+15.6% | $171M+14.0% | $174M-5.9% | |
| Mobility | $89M+17.1% | $85M+9.0% | $76M-1.3% | $81M-3.6% | $76M-1.3% | |
| Ratings | $1M-75.0% | $12M+71.4% | $13M+62.5% | $37M+68.2% | $4M-50.0% | |
| Operating profit by Business | ||||||
| Energy | $287M+12.5% | —— | —— | —— | $255M+20.7% | |
| Indices | $372M+18.1% | $330M+15.0% | $317M+12.4% | $309M+17.5% | $315M+15.8% | |
| Market Intelligence | $440M+100% | $235M+4.0% | $277M+20.4% | $259M+12.6% | $220M+16.4% | |
| Ratings | $881M+16.4% | $722M+15.2% | $819M+21.2% | $715M-1.4% | $757M+11.5% | |
| Total Assets by Business | ||||||
| Energy | $8.43B— | $8.54B-1.1% | —— | —— | —— | |
| Indices | $3.44B+4.2% | $3.38B+5.6% | $12.98B— | $3.4B— | $3.3B— | |
| Market Intelligence | $30.98B+6.7% | $31.23B+6.0% | $28.76T— | $28.74B— | $29.04B— | |
| Mobility | $12.91B-1.9% | $12.97B-1.9% | $8.67B— | $13.07B— | $13.16B— | |
| Ratings | $1.29B+4.9% | $1.14B+7.7% | $1.18B— | $1.32B— | $1.23B— | |
| Significant expenses by Business | ||||||
| Energy | $330M+3.8% | —— | —— | —— | $318M+11.7% | |
| Indices | $136M+12.4% | $156M+12.2% | $134M+8.1% | $128M+12.3% | $121M+15.2% | |
| Market Intelligence | $860M+6.8% | $856M+7.1% | $796M+0.6% | $787M+1.5% | $805M+4.8% | |
| Mobility | $272M+5.4% | $288M+7.5% | $252M+5.9% | $253M+7.2% | $258M+7.9% | |
| Ratings | $420M+8.2% | $453M+5.6% | $408M-4.2% | $396M+2.1% | $388M+3.5% | |
| Initial Charge Recorded by Business | ||||||
| Indices | $4M+300% | $3M— | —— | —— | $1M-80.0% | |
| Market Intelligence | $56M-27.3% | —— | —— | —— | $77M-14.4% | |
| Ratings | $17M+325% | $7M— | $0— | $6M— | $4M-60.0% | |
| Restructuring reserve balance by Business | ||||||
| Indices | $3M— | $4M— | $1M0.0% | $0-100% | $0-100% | |
| Market Intelligence | $12M-53.8% | $25M-47.9% | $23M+9.5% | $24M-25.0% | $26M-36.6% | |
| Ratings | $3M+50.0% | $5M+66.7% | $3M+200% | $5M+150% | $2M-60.0% | |
| Restructuring Charges by Business | ||||||
| Energy | $19M+300% | $4.75M— | $4.75M— | $4.75M— | $4.75M— | |
| Mobility | $15M+150% | —— | —— | —— | $6M-33.3% | |
| Restructuring Reserve by Business | ||||||
| Energy | $8M— | $12M— | —— | —— | —— | |
| Mobility | $7M— | $11M+267% | —— | —— | —— | |
| 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.
