Business Segments · Revenue
Ratings — Revenue
S&P Global Ratings — Revenue increased by 8.0% to $1.24B in Q3 2025 compared to the prior quarter. Year-over-year, this metric grew by 11.7%, from $1.11B to $1.24B. Over 3 years (FY 2021 to FY 2024), Ratings — Revenue shows relatively stable performance with a 2.2% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
StatementSegment
CategoryGrowth
SignalHigher is better
VolatilityModerate
First reportedQ1 2016
Last reportedQ3 2025
Rolls up toTotal Revenue
How to read this metric
An increase signals strong market demand for debt financing and high activity levels in capital markets.
Detailed definition
The total gross income generated by the credit ratings segment through the provision of credit rating services, surveill...
Peer comparison
Comparable to revenue from credit rating agencies or financial data providers with subscription and transaction-based models.
Metric ID:
spgi_segment_ratings_revenueHistorical Data
18 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.07B | $1.02B | $990.00M | $868.00M | $796.00M | $681.00M | $705.00M | $824.00M | $851.00M | $819.00M | $838.00M | $1.06B | $1.14B | $1.11B | $1.06B | $1.15B | $1.15B | $1.24B |
| QoQ Change | — | -5.2% | -2.7% | -12.3% | -8.3% | -14.4% | +3.5% | +16.9% | +3.3% | -3.8% | +2.3% | +26.7% | +6.9% | -2.2% | -4.2% | +8.1% | -0.1% | +8.0% |
| YoY Change | — | — | — | — | -25.8% | -33.0% | -28.8% | -5.1% | +6.9% | +20.3% | +18.9% | +28.9% | +33.4% | +35.5% | +26.8% | +8.2% | +1.1% | +11.7% |
Range$681.00M – $1.24B
CAGR+3.5%
Avg YoY Growth+7.1%
Median YoY Growth+10.0%
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Frequently Asked Questions
- What is S&P Global's ratings — revenue?
- S&P Global (SPGI) reported ratings — revenue of $1.24B in Q3 2025.
- How has S&P Global's ratings — revenue changed year-over-year?
- S&P Global's ratings — revenue increased by 11.7% year-over-year, from $1.11B to $1.24B.
- What is the long-term trend for S&P Global's ratings — revenue?
- Over 3 years (2021 to 2024), S&P Global's ratings — revenue has grown at a 2.2% compound annual growth rate (CAGR), from $4.10B to $4.37B.
- What does ratings — revenue mean?
- Total sales generated by the credit ratings business segment.