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S&P Global SPGI Indices — Reclassifications

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-$141M
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$0
Mobility
$0

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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$121.44B-29.4%
Enterprise value$133.05B-26.9%
P/E24.7×-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:GoodwillTransfers.

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 IntelligenceRatingsEnergyMobilityIndicesCorporateTotal
Acquisitions22916245
Dispositions(80)(80)
Other 1(26)(15)(4)(5)(48)(98)
Balance as of December 31, 202418,3062595,5508,8581,36957534,917
Acquisitions1,487243651,552
Reclassifications 2(141)(115)115(141)
Other 110(4)1310028147
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 indices — reclassifications?
S&P Global (SPGI) reported indices — reclassifications of $0 in Q4 2025.
What does indices — reclassifications mean?
This metric represents the financial impact of reclassifying assets, liabilities, or equity items within the Indices business segment. It captures adjustments made to historical financial data to ensure consistency and comparability following changes in accounting standards, business structure, or reporting classifications. Such adjustments are critical for investors to understand the underlying performance trends of the segment without the noise of accounting shifts.

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