financial statements

The full income statement, balance sheet, and cash-flow statement for S&P Global Inc. (SPGI), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

See the live SPGI chart & snapshot →

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	15.3B YoY+7.9%	14.2B YoY+13.7%	12.5B YoY+11.8%	11.2B YoY+34.8%	8.30B YoY+11.5%
Cost of revenue	4.56B YoY+4.6%	4.36B YoY+5.3%	4.14B YoY+10.3%	3.75B YoY+72.2%	2.18B YoY+4.1%
Selling, general & administrative	3.42B YoY+6.9%	3.20B YoY+1.2%	3.16B YoY-7.0%	3.40B YoY+96.4%	1.73B YoY+12.2%
Amortization of intangibles	1.07B YoY-0.7%	1.08B YoY+3.4%	1.04B YoY+15.1%	905M YoY+842.7%	96.0M YoY-22.0%
Provision for credit losses	39.0M YoY-9.3%	43.0M YoY+53.6%	28.0M YoY+16.7%	24.0M YoY+71.4%	14.0M YoY-17.6%
Operating income	6.48B YoY+16.1%	5.58B YoY+38.8%	4.02B YoY-18.7%	4.94B YoY+17.1%	4.22B YoY+16.7%
Interest expense	287M YoY-3.4%	297M YoY-11.1%	334M YoY+9.9%	304M YoY+155.5%	119M YoY-15.6%
Other non-operating income	36.0M YoY+44.0%	25.0M YoY+266.7%	-15.0M YoY-121.4%	70.0M YoY+12.9%	62.0M YoY+100.0%
Equity-method income	28.0M YoY-34.9%	43.0M YoY+19.4%	36.0M YoY+33.3%	27.0M	0.00
Pre-tax income	6.23B YoY+17.3%	5.31B YoY+44.6%	3.67B YoY-21.9%	4.70B YoY+12.9%	4.16B YoY+29.0%
Income tax	1.41B YoY+23.3%	1.14B YoY+46.7%	778M YoY-34.1%	1.18B YoY+31.0%	901M YoY+29.8%
Net income	4.47B YoY+16.1%	3.85B YoY+46.7%	2.63B YoY-19.2%	3.25B YoY+7.4%	3.02B YoY+29.3%
	$14.66 YoY+18.7%	$12.35 YoY+50.1%	$8.23 YoY-19.3%	$10.20 YoY-18.5%	$12.51 YoY+29.5%
EPS (basic)	$14.67 YoY+18.7%	$12.36 YoY+49.8%	$8.25 YoY-19.5%	$10.25 YoY-18.4%	$12.56 YoY+29.4%
Weighted-avg shares (basic)	305M YoY-2.2%	312M YoY-2.1%	318M YoY+0.5%	317M YoY+31.6%	241M YoY-0.1%
Weighted-avg shares (diluted)	305M YoY-2.2%	312M YoY-2.2%	319M YoY+0.1%	319M YoY+31.7%	242M YoY-0.1%
Dividends per share	$3.84 YoY+5.5%	$3.64 YoY+1.1%	$3.60 YoY+8.4%	$3.32 YoY+7.8%	$3.08 YoY+14.9%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	6.30B YoY+15.3%	5.46B YoY+6.1%	5.14B YoY-9.2%	5.67B YoY-35.7%	8.81B YoY+47.1%
Cash & equivalents	1.75B YoY+4.7%	1.67B YoY+29.1%	1.29B YoY+0.3%	1.29B YoY-80.2%	6.50B YoY+58.2%
Short-term investments	56.0M YoY+180.0%	20.0M YoY-23.1%	26.0M YoY+85.7%	14.0M YoY+27.3%	11.0M YoY+22.2%
Accounts receivable	3.44B YoY+20.0%	2.87B YoY+1.5%	2.83B YoY+13.3%	2.49B YoY+51.2%	1.65B YoY+3.6%
Inventory	258M YoY+0.0%	258M YoY+0.0%	258M YoY+0.0%	258M YoY+0.0%	258M YoY+0.0%
Prepaid expenses	914M YoY+0.9%	906M YoY-11.7%	1.03B YoY+78.7%	574M YoY+77.7%	323M YoY+22.3%
Other current assets	221M YoY+0.0%	221M YoY+0.0%	221M YoY+0.0%	221M YoY+0.0%	221M YoY+0.0%
	61.2B YoY+1.6%	60.2B YoY-0.6%	60.6B YoY-1.9%	61.8B YoY+311.2%	15.0B YoY+19.9%
Property, plant & equipment	278M YoY+4.9%	265M YoY+2.7%	258M YoY-13.1%	297M YoY+23.2%	241M YoY-15.1%
Operating lease right-of-use	413M YoY+0.0%	413M YoY+9.0%	379M YoY-10.4%	423M YoY-0.7%	426M YoY-13.8%
Goodwill	36.5B YoY+4.5%	34.9B YoY+0.2%	34.9B YoY+0.9%	34.5B YoY+885.3%	3.51B YoY-6.1%
Intangible assets	16.3B YoY-1.7%	16.6B YoY-4.8%	17.4B YoY-5.0%	18.3B YoY+1324.6%	1.28B YoY-5.0%
Deferred tax assets	59.0M YoY+0.0%	59.0M YoY+0.0%	59.0M YoY+0.0%	59.0M YoY+0.0%	59.0M YoY+0.0%
Other non-current assets	864M YoY+46.2%	591M YoY-23.6%	774M YoY+37.7%	562M YoY+140.2%	234M YoY-39.5%
	7.64B YoY+19.5%	6.39B YoY+4.4%	6.13B YoY+2.1%	6.00B YoY+57.2%	3.81B YoY+6.4%
Accounts payable	610M YoY+10.3%	553M YoY-0.7%	557M YoY+23.8%	450M YoY+119.5%	205M YoY-12.0%
Accrued liabilities	98.0M YoY+0.0%	98.0M YoY+0.0%	98.0M YoY+0.0%	98.0M YoY+0.0%	98.0M YoY+0.0%
Deferred revenue	4.09B YoY+10.7%	3.69B YoY+6.7%	3.46B YoY+10.7%	3.13B YoY+41.0%	2.22B YoY+2.3%
Short-term & current debt	718M YoY+17850.0%	4.00M YoY-91.5%	47.0M YoY-79.2%	226M	0.00 YoY-100.0%
Current lease liability	124M YoY+13.8%	109M YoY+3.8%	105M YoY-11.0%	118M YoY+22.9%	96.0M YoY-4.0%
Other current liabilities	1.01B YoY+16.2%	869M YoY-15.9%	1.03B YoY-5.6%	1.09B YoY+100.0%	547M YoY-0.7%
	25.0B YoY+10.3%	22.7B YoY+1.0%	22.5B YoY+2.0%	22.0B YoY+132.2%	9.49B YoY+3.3%
Long-term debt	12.4B YoY+8.6%	11.4B YoY-0.2%	11.4B YoY+6.4%	10.7B YoY+160.8%	4.11B YoY+0.1%
Non-current lease liability	494M YoY-7.7%	535M YoY-1.1%	541M YoY-6.2%	577M YoY+17.3%	492M YoY-9.6%
Deferred tax liabilities	3.26B YoY-4.0%	3.40B YoY-7.9%	3.69B YoY-9.2%	4.07B YoY+2665.3%	147M YoY-16.9%
Other non-current liabilities	1.11B YoY+35.8%	815M YoY+56.1%	522M YoY+6.7%	489M YoY-25.9%	660M YoY+1.1%
Total non-current liabilities	2.08B YoY+0.0%	2.08B YoY+0.0%	2.08B YoY+0.0%	2.08B YoY+0.0%	2.08B YoY+0.0%
	31.1B YoY-6.1%	33.2B YoY-3.0%	34.2B YoY-6.0%	36.4B YoY+1690.7%	2.03B YoY+299.2%
Common stock	415M YoY+0.0%	415M YoY+0.0%	415M YoY+0.0%	415M YoY+41.2%	294M YoY+0.0%
Additional paid-in capital	44.1B YoY-0.5%	44.3B YoY+0.2%	44.2B YoY-0.4%	44.4B YoY+4208.6%	1.03B YoY+9.0%
Retained earnings	23.7B YoY+12.8%	21.0B YoY+12.0%	18.7B YoY+5.3%	17.8B YoY+18.4%	15.0B YoY+12.3%
Treasury stock	36.4B YoY+14.8%	31.7B YoY+11.5%	28.4B YoY+12.1%	25.3B YoY+88.2%	13.5B YoY+0.1%
Accumulated other comprehensive income	-697M YoY+21.1%	-883M YoY-15.7%	-763M YoY+13.9%	-886M YoY-5.4%	-841M YoY-32.0%
Non-controlling interest	108M YoY+11.3%	97.0M YoY-3.0%	100M YoY+12.4%	89.0M YoY+18.7%	75.0M YoY+21.0%
Total equity incl. non-controlling	31.2B YoY-6.1%	33.3B YoY-3.0%	34.3B YoY-6.0%	36.5B YoY+1631.2%	2.11B YoY+269.0%
Total liabilities & equity	61.2B YoY+1.6%	60.2B YoY-0.6%	60.6B YoY-1.9%	61.8B YoY+311.2%	15.0B YoY+19.9%
Common shares issued	415M YoY+0.0%	415M YoY+0.0%	415M YoY+0.0%	415M YoY+41.2%	294M YoY+0.0%
Common shares outstanding	299M YoY-2.9%	308M YoY-2.0%	314M YoY-2.4%	322M YoY+33.6%	241M YoY+0.2%
Shares outstanding (cover)	303M YoY-2.4%	310M YoY-2.1%	317M YoY-2.8%	326M YoY+35.2%	241M YoY+0.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.65B YoY-0.7%	5.69B YoY+53.3%	3.71B YoY+42.5%	2.60B YoY-27.7%	3.60B YoY+0.9%
Depreciation & amortization	1.18B YoY+0.5%	1.17B YoY+2.6%	1.14B YoY+12.8%	1.01B YoY+469.1%	178M YoY-13.6%
Share-based compensation	236M YoY-4.5%	247M YoY+44.4%	171M YoY-20.1%	214M YoY+75.4%	122M YoY+35.6%
Deferred income taxes	-242M YoY+25.1%	-323M YoY+15.2%	-381M YoY-7.9%	-353M YoY-2815.4%	13.0M YoY+141.9%
Change in receivables	600M YoY+659.5%	79.0M YoY-72.9%	291M YoY+908.3%	-36.0M YoY-125.0%	144M YoY+900.0%
	-704M YoY-176.1%	-255M YoY-145.4%	562M YoY-84.5%	3.63B YoY+3123.3%	-120M YoY+50.0%
Capital expenditure	195M YoY+57.3%	124M YoY-13.3%	143M YoY+60.7%	89.0M YoY+154.3%	35.0M YoY-53.9%
Acquisitions	2.02B YoY+563.3%	305M YoY+3.0%	296M YoY+241.0%	-210M YoY-312.1%	99.0M YoY-50.7%
Proceeds from sale of PP&E	—	—	1.01B YoY-71.1%	3.51B YoY+21831.3%	16.0M YoY-11.1%
	-4.93B YoY+1.4%	-5.00B YoY-16.8%	-4.28B YoY+62.2%	-11.3B YoY-1018.1%	-1.01B YoY+53.2%
Net short-term debt	715M	0.00 YoY+100.0%	-188M	—	—
Common stock repurchased	5.00B YoY+51.5%	3.30B YoY+0.0%	3.30B YoY-72.5%	12.0B	0.00 YoY-100.0%
Dividends paid	1.17B YoY+3.2%	1.13B YoY-1.1%	1.15B YoY+12.0%	1.02B YoY+37.8%	743M YoY+15.2%
FX effect on cash	62.0M YoY+201.6%	-61.0M YoY-608.3%	12.0M YoY+109.8%	-123M YoY-50.0%	-82.0M YoY-209.3%
Net change in cash	79.0M YoY-78.9%	375M YoY+9275.0%	4.00M YoY+100.1%	-5.22B YoY-319.0%	2.38B YoY+92.8%
Interest paid	390M YoY-0.3%	391M YoY+6.0%	369M YoY+53.8%	240M YoY+84.6%	130M YoY-18.2%
Income taxes paid	1.50B YoY+29.6%	1.16B YoY-9.4%	1.28B YoY-17.7%	1.55B YoY+76.1%	883M YoY+29.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	158B YoY+2.4%	155B YoY+10.7%	140B YoY+27.9%	109B YoY-4.1%	114B YoY+43.8%
P/E	35.4× YoY-11.8%	40.1× YoY-29.0%	56.5× YoY+76.5%	32.0× YoY-14.9%	37.6× YoY+11.3%
P/S	10.3× YoY-5.1%	10.9× YoY-4.7%	11.4× YoY+5.5%	10.8× YoY-21.1%	13.7× YoY+29.0%
P/B	5.1× YoY+9.1%	4.7× YoY+17.8%	4.0× YoY+31.7%	3.0× YoY-94.6%	56.0× YoY-64.0%
P/FCF	29.0× YoY+4.4%	27.8× YoY-33.3%	41.6× YoY-11.8%	47.2× YoY+47.8%	31.9× YoY+40.9%
Earnings yield	2.8% YoY+13.4%	2.5% YoY+40.8%	1.8% YoY-43.3%	3.1% YoY+17.5%	2.7% YoY-10.1%
FCF yield	3.4% YoY-4.3%	3.6% YoY+50.0%	2.4% YoY+13.3%	2.1% YoY-32.4%	3.1% YoY-29.0%
Dividend yield	0.7% YoY+0.5%	0.7% YoY-10.6%	0.8% YoY-17.6%	1.0% YoY+51.9%	0.7% YoY-19.9%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: SPGI's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all SPGI filings on SEC EDGAR → Not investment advice.

SPGI▼ financial statements

About this data

financial statements