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/SPGI
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S&P Global Inc

S&P Global Inc

SPGI
$450.84USD↓-1.43%-6.54 today

MARKET CAP

133.4B

P/E (TTM)

24.5x

FWD P/E

21.1x

DAY RANGE

$448 – $462

52W RANGE

$382
$579

AI Summary

Stalk
TrimMedium

SPGI appears to be topping in its Stage 2 advance with an active Blow-Off Top at the recent peak and rejection at the 200 DMA. Medium-term structure favors a bearish reversal, while short-term extension and overbought conditions advise deferring sell execution into resistance. Under a Stable strategy, trimming into the prior high and 200 DMA zone aligns with optimal execution timing.

  • ↑Revenue rose 10% YoY to $2.5 billion; subscriptions now 75% of mix
  • ↑Subscription products grew 6%, driving 150 bp operating margin expansion
  • ↓Revenue growth projected at 4.5%–6% due to geopolitical and energy risks
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

S&P Global Inc. (NYSE: SPGI) is a leading provider of financial information and analytics, offering services across various sectors including market intelligence, ratings, and indices. The company has established a robust market position, especially in the domains of data analytics and AI-driven insights, adapting effectively to ongoing changes in the macroeconomic landscape. Recently, S&P Global spun off its Mobility division, allowing it to sharpen its focus on core segments, further enhancing its operational efficiency and customer engagement capabilities.

Bull says

  • ↑Revenue rose 10% YoY to $2.5 billion; subscriptions now 75% of mix
  • ↑Subscription products grew 6%, driving 150 bp operating margin expansion
  • ↑API call volume surged 5x, reflecting accelerating AI solution demand
  • ↑Returned $1 billion via buybacks and dividends; spin-off proceeds fund returns
  • ↑Guided organic revenue growth of 6–8% and private market revenue up 16%
  • ↑High profitability factors and low historical volatility support stability

Bear says

  • ↓Revenue growth projected at 4.5%–6% due to geopolitical and energy risks
  • ↓Earnings yield is low and momentum is negative, elevating valuation risk
  • ↓Growth factors are negative, suggesting challenges in revenue and market share
  • ↓Ratings and indices growth may slow, pressuring highest-margin businesses
  • ↓High balance sheet risk and weak quality scores heighten adversity
  • ↓Energy market volatility and regulatory shifts could inflate operating costs

Investment themes with SPGI

Quality↑ +0.54%

Companies with strong fundamentals and stability

NVDA · AAPL · MSFT
Capital Markets↓ -0.02%

Debt and equity trading fueling economic growth

SNEX · AAMI · PWP
Brokerages↓ -0.12%

GS · MS · SCHW

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 04-28-2026neutral

Transcript signals

Bull points

  • we see this as a good outcome for the first quarter and expect that to build momentum into 2Q, 3Q, and 4Q.
  • Revenue increased 10% year-over-year, or 9%, on an organic constant currency basis. Revenue from our subscription products increased 6% year-over-year. We saw even stronger growth in our market-driven businesses this quarter, with ratings and indices both showing remarkable resilience. On a trading 12-month basis, we delivered 140 basis points of margin expansion and increased adjusted diluted EPS by 14% year-over-year in the quarter. We demonstrated a continued commitment to disciplined capital allocation, returning $1 billion to shareholders through share repurchases in addition to our cash dividends in the quarter.
  • Throughout all of this, the pace of technology innovation has only accelerated. Customers are coming to S&P Global with increased urgency for our differentiated data and benchmarks, insights, and tools to make timely and informed decisions in this rapidly evolving operating and market environment.

Bear points

  • we acknowledge the macro uncertainty that has increased in recent months. Even if conflicts are resolved quickly from this point, we expect it to take some time for supply chains to return to normal. In recent months, the geopolitical and economic backdrop has shifted and become substantially more challenging for many of our customers. The conflict in Iran has shocked energy markets and supply chains. This has led to much higher energy and commodity prices while also elevating volatility. The longer the duration of this conflict, the broader and more severe the impact on global supply chains and markets across sectors.
  • We saw spreads widen slightly in the quarter as a reaction to uncertainty around AI, private credit, and geopolitical conflicts. However, spreads are still below historical norms. While first quarter build issuance was above our initial expectations, Much of the outperformance was driven by hyperscaler issuance that our original guidance assumed would be spread more throughout the year.
  • In ratings, we rated the first esoteric ABS issuance backed by Bitcoin as we continue the innovation leadership and digital asset finance that we started in 2018.
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