S&P Global SPGI Business Segments
| FY'25 | FY'24 | FY'23 | FY'22 | ||
|---|---|---|---|---|---|
| Revenue by Business | |||||
| Indices | $1.85B+13.8% | $1.63B+15.9% | $1.4B+4.9% | $1.34B+16.5% | |
| Market Intelligence | $4.92B+5.8% | $4.65B+6.1% | $4.38B+14.9% | $3.81B+74.4% | |
| Mobility | $1.75B+8.6% | $1.61B+8.4% | $1.48B+29.9% | $1.14B— | |
| Ratings | $4.72B+8.1% | $4.37B+31.2% | $3.33B+9.2% | $3.05B-25.6% | |
| Less: other segment items by Business | |||||
| Engineering Solutions | $0— | $0-100% | $1M-97.5% | $40M— | |
| Indices | $41M0.0% | $41M-2.4% | $42M+800% | -$6M— | |
| Market Intelligence | $680M+6.8% | $637M-12.6% | $729M+159% | -$1.25B— | |
| Mobility | $318M+0.6% | $316M0.0% | $316M+34.5% | $235M— | |
| Ratings | $66M+46.7% | $45M+137% | $19M-50.0% | $38M— | |
| Operating profit by Business | |||||
| Indices | $1.27B+15.1% | $1.1B+19.4% | $925M-0.3% | $928M+16.3% | |
| Market Intelligence | $991M+13.3% | $875M+22.4% | $715M-71.3% | $2.49B+268% | |
| Ratings | $3.01B+11.3% | $2.71B+45.2% | $1.86B+11.5% | $1.67B-36.4% | |
| Total Assets by Business | |||||
| Indices | $23.05B— | —— | —— | —— | |
| Market Intelligence | $28.85T— | —— | —— | —— | |
| Mobility | $47.87B— | —— | —— | —— | |
| Ratings | $4.88B— | —— | —— | —— | |
| Significant expenses by Business | |||||
| Engineering Solutions | $0— | $0-100% | $113M-57.8% | $268M— | |
| Indices | $539M+11.8% | $482M+10.6% | $436M+4.3% | $418M— | |
| Market Intelligence | $3.24B+3.5% | $3.13B+6.8% | $2.93B+14.2% | $2.57B— | |
| Mobility | $1.05B+7.1% | $981M+8.0% | $908M+30.8% | $694M— | |
| Ratings | $1.65B+1.7% | $1.62B+11.7% | $1.45B+8.1% | $1.34B— | |
| Initial Charge Recorded by Business | |||||
| Ratings | $17M— | —— | —— | $26M— | |
| Reclassifications by Business | |||||
| Energy | $0— | —— | —— | —— | |
| Indices | $0— | —— | —— | $0— | |
| Market Intelligence | -$141M— | —— | —— | $0+100% | |
| Mobility | $0— | —— | —— | $0— | |
| Ratings | -$115M— | —— | —— | $0— | |
| Depreciation & Amortization by Business | |||||
| Energy | $138M+0.7% | $137M0.0% | $137M— | —— | |
| Engineering Solutions | $0— | $0-100% | $2M-94.3% | $35M— | |
| Indices | $43M+2.4% | $42M0.0% | $42M+7.7% | $39M+290% | |
| Market Intelligence | $631M+0.6% | $627M+5.0% | $597M+17.3% | $509M+459% | |
| Mobility | $320M+0.9% | $317M+1.0% | $314M+26.6% | $248M— | |
| Ratings | $32M-13.5% | $37M0.0% | $37M-19.6% | $46M0.0% | |
| Acquisitions by Business | |||||
| Energy | $0-100% | $16M— | —— | —— | |
| Indices | $36M— | $0— | $0-100% | $1.02B— | |
| Market Intelligence | $1.49B+549% | $229M+269% | $62M-99.6% | $16.56B— | |
| Mobility | $0— | $0-100% | $168M-98.1% | $8.7B— | |
| Ratings | $24M— | $0-100% | $3M-86.4% | $22M— | |
| Restructuring reserve balance by Business | |||||
| Indices | $5M+25.0% | $4M-78.9% | $19M— | —— | |
| Market Intelligence | $98M-31.0% | $142M-17.4% | $172M— | —— | |
| Ratings | $15M+36.4% | $11M-65.6% | $32M— | —— | |
| Restructuring Charges by Business | |||||
| Energy | $19M— | —— | —— | —— | |
| Capital Expenditures by Business | |||||
| Energy | $11M+57.1% | $7M0.0% | $7M— | —— | |
| Engineering Solutions | $0— | $0— | $0-100% | $4M— | |
| Indices | $4M+33.3% | $3M-76.9% | $13M+550% | $2M0.0% | |
| Market Intelligence | $78M+27.9% | $61M-16.4% | $73M+69.8% | $43M+258% | |
| Mobility | $28M+55.6% | $18M-18.2% | $22M+267% | $6M— | |
| Ratings | $64M+121% | $29M+20.8% | $24M+4.3% | $23M+27.8% | |
| Goodwill, Other Increase (Decrease) by Business | |||||
| Energy | $13M+425% | -$4M— | —— | —— | |
| Indices | $100M+308% | -$48M-367% | $18M— | $0— | |
| Market Intelligence | $10M+138% | -$26M-336% | $11M+238% | -$8M0.0% | |
| Mobility | $0+100% | -$5M— | $0— | $0— | |
| Ratings | -$4M+73.3% | -$15M-207% | $14M+240% | -$10M+44.4% | |
| Revenue by Product | |||||
| Asset-linked fees | $1.21B+15.5% | $1.05B+21.5% | $860M-0.2% | $862M+7.8% | |
| Non-subscription / Transaction | $3.15B+5.3% | $2.99B+42.7% | $2.09B+16.0% | $1.81B-22.2% | |
| Non-transaction | $2.05B+10.6% | $1.86B+7.3% | $1.73B+5.5% | $1.64B-3.4% | |
| Recurring variable revenue | $622M+7.4% | $579M+14.9% | $504M+31.3% | $384M— | |
| Sales usage-based royalties | $443M+12.4% | $394M+13.5% | $347M+21.3% | $286M+28.3% | |
| Subscription | $7.87B+7.1% | $7.35B+5.5% | $6.96B+12.2% | $6.2B+90.5% | |
| Revenue by Geography | |||||
| Asia | $1.64B+9.9% | $1.49B+8.5% | $1.38B+10.4% | $1.25B+42.4% | |
| Europe | $3.53B+8.4% | $3.26B+15.5% | $2.82B+8.6% | $2.6B+30.3% | |
| Rest Of World | $843M+2.9% | $819M+7.9% | $759M+11.0% | $684M+63.6% | |
| UNITED STATES | $9.32B+7.9% | $8.64B+14.5% | $7.54B+13.4% | $6.65B+32.8% | |
| Concentration risk (as a percent) by Geography | |||||
| Asia | 23%+1.0pp | 22%+11.0pp | 11%0.0pp | 11%0.0pp | |
| Europe | 23%0.0pp | 23%0.0pp | 23%0.0pp | 23%-1.0pp | |
| Rest Of World | 5%-1.0pp | 6%0.0pp | 6%0.0pp | 6%+1.0pp |
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.
