S&P Global Inc.

S&P Global Inc. is a U.S.-based provider of benchmarks, credit ratings, data, analytics, and workflow tools for capital markets, energy and commodities, and automotive markets. Its businesses include Market Intelligence, Ratings, Energy, Mobility, and S&P Dow Jones Indices, serving customers globally through subscription, transaction, and data-driven offerings.

49,9 %

70,2 %

29,2 %

+7,9 %

0.82

0.82

— S&P Global Inc.
%
Market Intelligence40% Data, analytics, research, and workflow solutions for finance, corporate, and government users.
Ratings25% Credit ratings, surveillance, and related analytical services for debt issuers and investors.
S&P Dow Jones Indices15% Index benchmarks and index-linked data used for investing, licensing, and asset tracking.
Energy12% Information, pricing, and analytics for energy, chemicals, shipping, metals, carbon, and agriculture markets.
Mobility8% Automotive data, forecasting, and analytics for manufacturers, suppliers, dealers, and service providers.

S&P Global sells primarily to institutional and enterprise customers that need market data, ratings, benchmarks, and...

  • Investment managers and asset ownersprimary

    Buy market data, analytics, indices, and research to support portfolio construction, valuation, and performance tracking.

  • Banks and capital markets participantsprimary

    Use ratings, credit analytics, bookbuilding tools, and workflow software for underwriting, lending, and trading.

  • Corporates and issuerssecondary

    Purchase issuer solutions, credit-related information, and analytics to access capital markets and manage risk.

  • Energy and commodity market participantssecondary

    Buy pricing, intelligence, and analytics to support trading, sourcing, logistics, and market monitoring.

  • Automotive industry participantssecondary

    Use mobility data and forecasting to plan production, sales, and aftermarket activity.

S&P Global operates globally, with revenue concentrated in the United States and a large international base across...

  • •United States is the largest revenue market at about 60-62%
  • •Europe is the largest international region at about 22-23%
  • •Asia contributes roughly 10-11% of revenue
  • •Rest of world contributes roughly 5-6% of revenue
  • •Global delivery model increases exposure to regulation and FX

S&P Global’s strategy centers on strengthening its core franchises in ratings, data, indices, and workflow solutions...

01
Protect and grow core data, ratings, and benchmark franchisesmedium-term

These businesses anchor recurring customer relationships and support cross-selling across the platform.

02
Integrate generative AI into products and workflowsshort-term

AI can improve product utility, speed, and differentiation in data-intensive customer workflows.

03
Expand adjacent offerings and strategic accountsmedium-term

Adjacencies broaden the addressable market and deepen wallet share with large enterprise customers.

S&P Global faces cybersecurity, technology, and reputation risks because its products depend on trusted data, digital...

high

Cybersecurity and information-system attacks

The company relies on digital platforms, proprietary data, and third-party networks that are attractive targets.

Scope
Customer data, ratings, benchmarks, and workflow systems
Materiality
high
high

Global regulatory and geopolitical exposure

Operations span many jurisdictions with differing laws, data rules, and trade restrictions.

Scope
Cross-border data transfer, licensing, and local compliance
Materiality
high
high

Reputation and methodology risk

Ratings and index businesses depend on market confidence in objectivity and consistency.

Scope
Ratings decisions, benchmark composition, and index changes
Materiality
high
medium

Third-party dependency risk

Distribution partners, vendors, and data providers are part of the delivery chain.

Scope
Data feeds, hosted products, and outsourced services
Materiality
medium
Revenue recognition across mixed contract types
Affects revenue mix, deferred revenue, and comparability across periods
Goodwill and intangible asset impairment
Can create non-cash charges if expected cash flows weaken
Allowance for doubtful accounts
Affects receivables and operating results
Business combinations and contingencies
Can affect purchase accounting and future earnings

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: 11/08/2026