Business Segments · Goodwill
Ratings — Goodwill
S&P Global Ratings — Goodwill decreased by 36.7% to $164.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric declined by 36.7%, from $259.00M to $164.00M.
Analysis
StatementSegment
CategoryCapital Allocation
SignalContext dependent
VolatilityStable
First reportedQ4 2014
Last reportedQ4 2025Feb 11, 2026
Rolls up toGoodwill
How to read this metric
An increase suggests recent acquisitions, while a decrease may indicate impairment charges or divestitures.
Detailed definition
Represents the carrying value of goodwill specifically allocated to the credit ratings business segment. This asset aris...
Peer comparison
Common across financial services firms with M&A history; peers like Moody's or MSCI report similar goodwill allocations.
Metric ID:
spgi_segment_ratings_goodwillHistorical Data
5 periods
| Q4 '21 | Q4 '22 | Q4 '23 | Q4 '24 | Q4 '25 | |
|---|---|---|---|---|---|
| Value | $245.00M | $257.00M | $274.00M | $259.00M | $164.00M |
| QoQ Change | — | +4.9% | +6.6% | -5.5% | -36.7% |
| YoY Change | — | +4.9% | +6.6% | -5.5% | -36.7% |
Range$164.00M – $274.00M
CAGR-33.1%
Avg YoY Growth-7.7%
Median YoY Growth-0.3%
Current Streak2 quarters decline
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Frequently Asked Questions
- What is S&P Global's ratings — goodwill?
- S&P Global (SPGI) reported ratings — goodwill of $164.00M in Q4 2025.
- How has S&P Global's ratings — goodwill changed year-over-year?
- S&P Global's ratings — goodwill decreased by 36.7% year-over-year, from $259.00M to $164.00M.
- What does ratings — goodwill mean?
- The total value of intangible assets like brand reputation recorded on the balance sheet for the credit ratings business.