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S&P Global SPGI Energy — CapEx

Other segment segments

Market Intelligence
$78M+27.9%
Ratings
$64M+121%
Mobility
$28M+55.6%
Indices
$4M+33.3%
Engineering Solutions
$0

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NHIInvestments — Property, Plant and Equipment, Additions
$52.53M
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NHISHOP — Total acquisitions
$105.49M

Other financials

Income statement

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Revenue$4.1B+10.4%
Gross profit$3.0B+13.1%
Operating income$1.8B+16.8%
Net income$1.2B+13.5%
EPS (diluted)$4.12+17.7%

Balance sheet

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Cash & equivalents$4.1B+124%
Total debt$15.7B+31.1%
Total equity$31.5B-5.7%
Total assets$62.9B+4.2%

Cash flow

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Operating cash flow$1.4B-0.4%
CapEx$38.0M-37.7%
Free cash flow$1.4B+1.2%

Valuation

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Market cap$120.88B-29.6%
Enterprise value$132.49B-27.2%
P/E24.6×-18.2×
P/S7.5×-4.2×

Profitability

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Gross margin70.9%+1.2pp
Operating margin44.4%+4.5pp
Net margin30.5%+3.2pp
FCF margin34.6%-2.2pp

Returns & leverage

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Return on equity15.2%+3.4pp
Debt / equity0.5×+0.1×
Current ratio0.0×

Where this comes from

Reported directly by S&P Global in its filing.

Tagged under the XBRL concept us-gaap:PropertyPlantAndEquipmentAdditions.

The source filing: S&P Global’s 10-K, filed February 11, 2026.

Filed
Feb 10, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0000064040-26-000013
(in millions)Depreciation & Amortization / 2025Depreciation & Amortization / 2024Depreciation & Amortization / 2023Capital Expenditures / 2025Capital Expenditures / 2024Capital Expenditures / 2023
Market Intelligence$631$627$597$78$61$73
Ratings323737642924
Energy1381371371177
Mobility320317314281822
Indices4342424313
Engineering Solutions2
Total reportable segments1,1641,1601,129185118139
Corporate1513141064

Item 8. Consolidated Financial Statements and Supplementary Data

FAQ

What is S&P Global's energy — capex?
S&P Global (SPGI) reported energy — capex of $2.75M in Q4 2025.
How has S&P Global's energy — capex changed year-over-year?
S&P Global's energy — capex increased by 57.1% year-over-year, from $1.75M to $2.75M.
What is the long-term trend for S&P Global's energy — capex?
Over 2 years (2023 to 2025), S&P Global's energy — capex has grown at a 25.4% compound annual growth rate (CAGR), from $7M to $11M.
What does energy — capex mean?
This metric represents the cash outflows used by the energy segment to acquire, upgrade, or maintain physical assets and intangible software platforms. It serves as a measure of the segment's investment in its future growth, infrastructure, and product development capabilities. High levels of expenditure typically indicate a focus on expanding data coverage or enhancing digital delivery platforms.

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