Business Segments · CapEx
Ratings — CapEx
S&P Global Ratings — CapEx remained flat by 0.0% to $16.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 120.7%, from $7.25M to $16.00M. Over 4 years (FY 2021 to FY 2025), Ratings — CapEx shows an upward trend with a 37.3% CAGR.
Analysis
StatementSegment
CategoryCapital Allocation
SignalContext dependent
VolatilityModerate
First reportedQ1 2016
Last reportedQ4 2025Feb 11, 2026
Rolls up toProperty, Plant and Equipment, Additions
How to read this metric
Higher spending indicates investment in future capacity or innovation, while lower spending may indicate a mature, cash-cow phase.
Detailed definition
Funds used by the ratings segment to acquire, upgrade, and maintain physical assets such as property, buildings, or tech...
Peer comparison
Standard metric for all public companies; essential for comparing investment intensity against industry peers.
Metric ID:
spgi_segment_ratings_capital_expendituresHistorical Data
5 years
| FY'21 | FY'22 | FY'23 | FY'24 | FY'25 | |
|---|---|---|---|---|---|
| Value | $18.00M | $23.00M | $24.00M | $29.00M | $64.00M |
| YoY Change | — | +27.8% | +4.3% | +20.8% | +120.7% |
Range$18.00M – $64.00M
CAGR+37.3%
Avg YoY Growth+43.4%
Median YoY Growth+24.3%
Current Streak4+ years growth
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Frequently Asked Questions
- What is S&P Global's ratings — capex?
- S&P Global (SPGI) reported ratings — capex of $16.00M in Q4 2025.
- How has S&P Global's ratings — capex changed year-over-year?
- S&P Global's ratings — capex increased by 120.7% year-over-year, from $7.25M to $16.00M.
- What is the long-term trend for S&P Global's ratings — capex?
- Over 4 years (2021 to 2025), S&P Global's ratings — capex has grown at a 37.3% compound annual growth rate (CAGR), from $18.00M to $64.00M.
- What does ratings — capex mean?
- Money spent on long-term assets like technology and office infrastructure to support the ratings business.