Valuation, from the filing
| Public float | $161.00B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $538.82 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 36.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 10.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 5.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
36.0× earnings today, against a median of 32.7× across 9 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $161.00B | 36.0× | |
| 2023-06-30 | $127.50B | 48.6× | |
| 2022-06-30 | $113.30B | 34.9× | |
| 2021-06-30 | $98.90B | 32.7× | |
| 2020-06-30 | $79.40B | 33.9× | |
| 2019-06-30 | $56.10B | 26.4× | |
| 2018-06-30 | $51.30B | 26.2× | |
| 2017-06-30 | $37.50B | 25.1× | |
| 2016-06-30 | $28.30B | 13.4× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Services-Consumer Credit Reporting, Collection Agencies filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Current ratio | 0.82x | 25th | |
| Effective tax rate | 22.6% | 25th | |
| Net margin | 29.2% | 75th | |
| Operating margin | 42.2% | 75th | |
| Revenue YoY growth | 7.9% | 50th | |
| SBC / revenue | 1.5% | 50th |
S&P Global Inc. (SPGI) reported revenue of $3.68B and net income of $1.24B for the fiscal year ended 2026-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from S&P Global Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Consumer Credit Reporting, Collection Agencies.
Income
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.68B | $4.15B | $4.17B | $5.22B | $3.44B | $3.76B | $3.78B | $3.59B | $3.58B | $3.55B |
| Cost of revenue | $1.03B | $1.16B | $1.24B | $1.57B | $986.00M | $1.12B | $1.15B | $1.11B | $1.06B | $1.08B |
| Gross profit | $2.64B | $2.98B | $2.94B | $3.65B | $2.46B | $2.64B | $2.62B | $2.48B | $2.51B | $2.47B |
| Operating income | $1.96B | $1.81B | $2.00B | $2.00B | $1.56B | $1.55B | $1.58B | $1.31B | $1.43B | $1.45B |
| Net income | $1.24B | $1.22B | $1.40B | $1.13B | $1.18B | $1.07B | $1.09B | $880.00M | $971.00M | $1.01B |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 291.60M | shares 295.50M | shares 297.60M | Unavailable | shares 304.50M | shares 306.10M | shares 307.70M | Unavailable | shares 311.50M | shares 313.20M |
| Pretax income | $1.87B | $1.73B | $1.91B | $1.96B | $1.48B | $1.50B | $1.50B | $1.25B | $1.36B | $1.38B |
| Income tax expense | $467.00M | $406.00M | $404.00M | $489.00M | $312.00M | $342.00M | $325.00M | $287.00M | $313.00M | $293.00M |
| Diluted EPS | $4.25 | $4.12 | $4.69 | Unavailable | $3.86 | $3.50 | $3.54 | Unavailable | $3.11 | $3.23 |
| Selling, general & administrative | $660.00M | $873.00M | $802.00M | $1.38B | $693.00M | $803.00M | $764.00M | $926.00M | $815.00M | $741.00M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.44B | $4.13B | $1.81B | $1.71B | $1.67B | $1.85B | $1.47B | $1.67B | $1.70B | $2.04B |
| Total assets | $48.03B | $62.91B | $60.79B | $61.20B | $59.75B | $60.40B | $59.89B | $60.22B | $60.37B | $60.96B |
| Current assets | $6.42B | $8.71B | $6.32B | $6.30B | $5.65B | $5.88B | $5.34B | $5.46B | $5.20B | $5.64B |
| Total liabilities | $22.85B | $26.27B | $24.59B | $25.05B | $22.05B | $22.43B | $22.16B | $22.71B | $21.98B | $21.97B |
| Current liabilities | $8.72B | $9.12B | $9.34B | $7.64B | $5.80B | $5.98B | $5.92B | $6.39B | $5.50B | $5.50B |
| Total equity incl. NCI | $19.83B | $31.62B | $31.29B | $31.24B | $33.24B | $33.50B | $33.47B | $33.26B | $34.09B | $34.97B |
| Temporary (mezzanine) equity | $5.35B | $5.02B | $4.92B | $4.92B | $4.46B | $4.46B | $4.25B | $4.25B | $4.30B | $4.01B |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $3.10B | $3.44B | $3.49B | $3.24B | $2.86B | $2.98B | $3.08B | $2.87B | $2.64B | $2.71B |
| Goodwill | $27.60B | $36.35B | $36.36B | $27.62B | $34.92B | $35.07B | $34.96B | $34.92B | $34.99B | $34.98B |
| Long-term debt | $10.61B | $12.60B | $10.62B | $12.37B | $11.38B | $11.38B | $11.39B | $11.39B | $11.40B | $11.40B |
| Accounts payable | $507.00M | $611.00M | $510.00M | $555.00M | $418.00M | $532.00M | $525.00M | $553.00M | $475.00M | $477.00M |
Cash flow
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | Unavailable | $1.44B | $1.04B | $1.75B | $1.50B | $1.44B | $953.00M | $1.74B | $1.44B | $1.56B |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | Unavailable | -$39.00M | $291.00M | -$472.00M | -$101.00M | -$52.00M | -$79.00M | $7.00M | $57.00M | -$299.00M |
| Financing cash flow | Unavailable | $945.00M | -$1.24B | -$1.20B | -$1.57B | -$1.06B | -$1.10B | -$1.72B | -$1.88B | -$748.00M |
| Net change in cash | -$1.66B | $2.33B | $65.00M | $85.00M | -$187.00M | $378.00M | -$197.00M | -$31.00M | -$342.00M | $495.00M |
| Stock-based compensation | $32.00M | $56.00M | $39.00M | $81.00M | $63.00M | $45.00M | $47.00M | $70.00M | $95.00M | $49.00M |
| Common dividends paid | $281.00M | $287.00M | $288.00M | $290.00M | $291.00M | $294.00M | $295.00M | $280.00M | $282.00M | $286.00M |
| Common share repurchases | $2.60B | $500.00M | $1.00B | $2.50B | $1.20B | $651.00M | $650.00M | $1.30B | $1.50B | $0 |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | 71.9% | 71.9% | 70.4% | 70.0% | 71.4% | 70.2% | 69.5% | 69.2% | 70.2% | 69.6% |
| Operating margin | 53.2% | 43.7% | 48.0% | 38.4% | 45.2% | 41.3% | 41.8% | 36.4% | 40.1% | 40.9% |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 0.9% | 1.4% | 0.9% | 1.6% | 1.8% | 1.2% | 1.2% | 1.9% | 2.7% | 1.4% |
| Current ratio | 0.74x | 0.95x | 0.68x | 0.82x | 0.97x | 0.98x | 0.90x | 0.85x | 0.94x | 1.03x |
| Revenue YoY growth | 6.8% | 10.4% | 10.4% | 45.3% | -3.7% | 5.8% | 8.2% | 14.0% | 15.9% | 14.4% |
| Net margin | 33.7% | 29.4% | 33.4% | 21.7% | 34.2% | 28.5% | 28.9% | 24.5% | 27.2% | 28.5% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 0.54x | Unavailable | Unavailable | 0.40x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 24.9% | 23.5% | 21.2% | 25.0% | 21.1% | 22.8% | 21.7% | 22.9% | 23.0% | 21.3% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open SPGI in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.