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SPGI
S&P Global Inc.Stock · Financials
$439.89+$24.92 (+6.01%)as of market close, Jul 2, 2026
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How S&P Global makes money

Fiscal year

How does S&P Global make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year. Straight from SEC filings.

S&P Global Inc. · FY2025 · year ended 2025-12-31
Revenue$15.3BGross profit$10.8B · 70%Cost of revenue$4.6B · 30%Operating income$6.5B · 42%Operating expenses$4.3B · 28%SG&A$3.4B · 22%Other opex$878M · 6%Pre-tax income$5.9B · 38%Other expense$600M · 4%Net income$4.5B · 29%Income tax$1.4B · 9%Subscription$7.9B · 51%Non Subscription Transaction$3.1B · 21%Non Transaction$2.1B · 13%Asset Linked Fees$1.2B · 8%Recurring Variable Revenue$623M · 4%Sales Usage Based Royalties$444M · 3%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.