What is S&P Global's energy — goodwill?

S&P Global (SPGI) reported energy — goodwill of $5.56B in Q4 2025.

What does energy — goodwill mean?

Represents the carrying value of goodwill specifically allocated to the Energy business segment. This asset arises when the purchase price of an acquired entity exceeds the fair value of its identifiable net assets within the energy sector.

S&P Global (SPGI) Energy — Goodwill

Screener

Other segment segments

Market Intelligence

$19.66B+7.4%

Mobility

$8.86B0.0%

Indices

$1.51B+9.9%

Ratings

$164M-36.7%

Similar metrics at other companies

WLDNEnergy — Goodwill

$170.84M+3.8%

PRIMEnergy — Goodwill

$348M+127%

KNFEnergy Services — Goodwill

$31.37M-0.1%

ALBEnergy Storage — Goodwill

$1.45B-0.5%

ORAEnergy Storage — Goodwill

$4.6M0.0%

FELEEnergy Systems — Goodwill

$70.4M-0.3%

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 ratio1×0.0×

Where this comes from

Reported directly by S&P Global in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

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)	Market Intelligence	Ratings	Energy	Mobility	Indices	Corporate	Total
Acquisitions	229	—	16	—	—	—	245
Dispositions	(80)	—	—	—	—	—	(80)
Other 1	(26)	(15)	(4)	(5)	(48)	—	(98)
Balance as of December 31, 2024	18,306	259	5,550	8,858	1,369	575	34,917
Acquisitions	1,487	24	—	—	36	5	1,552
Reclassifications 2	(141)	(115)	—	—	—	115	(141)
Other 1	10	(4)	13	—	100	28	147
Balance as of December 31, 2025	$19,662	$164	$5,563	$8,858	$1,505	$723	$36,475

Item 8. Consolidated Financial Statements and Supplementary Data

FAQ

What is S&P Global's energy — goodwill?: S&P Global (SPGI) reported energy — goodwill of $5.56B in Q4 2025.
What does energy — goodwill mean?: Represents the carrying value of goodwill specifically allocated to the Energy business segment. This asset arises when the purchase price of an acquired entity exceeds the fair value of its identifiable net assets within the energy sector.