S&P Global Inc. (SPGI) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Financial - Data & Stock Exchanges
EV/EBITDA
↓
17.51
↓-28% vs avg
5yr avg: 24.29
30Y Low4.5·High90.9
P/FCF
↓
22.29
↓-35% vs avg
5yr avg: 34.20
30Y Low9.4·High42.4
P/B Ratio
↓
3.47
↓-51% vs avg
5yr avg: 7.11
30Y Low2.7·High24.0
ROE
↓
12.1%
↑-46% vs avg
5yr avg: 22.3%
30Y Low-7%·High143%
Debt/EBITDA
↑
1.85
+3% vs avg
5yr avg: 1.79
30Y Low0.0·High3.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SPGI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
S&P Global Inc. trades at 28.0x earnings, 30% below its 5-year average of 40.0x, sitting at the 52nd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a premium of 106%. On a free-cash-flow basis, the stock trades at 22.3x P/FCF, 35% below the 5-year average of 34.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $121.6B | $159.4B | $155.3B | $140.5B | $106.7B | $114.1B | $79.6B | $67.4B | $43.0B | $43.9B | $28.5B |
| Enterprise Value | $134.1B | $171.9B | $165.6B | $151.2B | $117.0B | $112.3B | $80.2B | $69.2B | $44.8B | $44.6B | $29.7B |
| P/E Ratio → | 28.03 | 35.65 | 40.33 | 53.53 | 32.84 | 37.72 | 34.03 | 31.75 | 21.98 | 29.31 | 13.54 |
| P/S Ratio | 7.93 | 10.40 | 10.93 | 11.24 | 9.54 | 13.75 | 10.69 | 10.06 | 6.88 | 7.23 | 5.04 |
| P/B Ratio | 3.47 | 4.41 | 4.14 | 3.69 | 2.68 | 20.61 | 23.74 | 24.04 | 18.68 | 20.71 | 16.01 |
| P/FCF | 22.29 | 29.22 | 27.91 | 39.38 | 42.43 | 32.03 | 22.80 | 25.33 | 22.05 | 23.17 | 21.14 |
| P/OCF | 21.52 | 28.21 | 27.30 | 37.87 | 40.98 | 31.72 | 22.31 | 24.29 | 20.85 | 21.75 | 19.48 |
P/E links to full P/E history page with 30-year chart
SPGI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
S&P Global Inc.'s enterprise value stands at 17.5x EBITDA, 28% below its 5-year average of 24.3x. The Financial Services sector median is 11.4x, placing the stock at a 54% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 11.21 | 11.66 | 12.10 | 10.47 | 13.54 | 10.78 | 10.33 | 7.15 | 7.36 | 5.24 |
| EV / EBITDA | 17.51 | 22.45 | 24.52 | 29.28 | 19.65 | 25.53 | 20.99 | 20.18 | 14.94 | 16.16 | 8.43 |
| EV / EBIT | 20.70 | 26.39 | 29.55 | 37.75 | 23.38 | 26.22 | 23.81 | 22.54 | 15.91 | 17.11 | 8.81 |
| EV / FCF | — | 31.51 | 29.76 | 42.39 | 46.56 | 31.52 | 22.98 | 26.02 | 22.95 | 23.59 | 22.01 |
SPGI Profitability
Margins and return-on-capital ratios measuring operating efficiency
S&P Global Inc. earns an operating margin of 42.2%, significantly above the Financial Services sector average of 20.3%. Operating margins have expanded from 32.2% to 42.2% over the past 3 years, signaling improving operational efficiency. ROE of 12.1% is modest. ROIC of 9.7% represents adequate returns on invested capital versus a sector median of 5.5%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.2% | 70.2% | 69.1% | 66.9% | 66.4% | 73.7% | 71.9% | 70.5% | 70.6% | 72.1% | 68.7% |
| Operating Margin | 42.2% | 42.2% | 39.3% | 32.2% | 44.2% | 50.9% | 48.6% | 48.2% | 44.6% | 42.6% | 59.0% |
| Net Profit Margin | 29.2% | 29.2% | 27.1% | 21.0% | 29.0% | 36.4% | 31.4% | 31.7% | 31.3% | 24.7% | 37.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.1% | 12.1% | 10.2% | 6.7% | 14.3% | 68.0% | 76.0% | 83.1% | 88.6% | 76.7% | 143.1% |
| ROA | 7.4% | 7.4% | 6.4% | 4.3% | 8.5% | 21.9% | 19.6% | 20.4% | 20.7% | 16.5% | 25.0% |
| ROIC | 9.7% | 9.7% | 8.4% | 5.9% | 12.0% | 34.5% | 34.8% | 36.0% | 35.9% | 35.1% | 49.5% |
| ROCE | 12.1% | 12.1% | 10.3% | 7.3% | 14.8% | 41.9% | 42.0% | 42.8% | 42.8% | 42.1% | 59.0% |
SPGI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
S&P Global Inc. carries a Debt/EBITDA ratio of 1.9x, which is manageable (56% below the sector average of 4.3x). Net debt stands at $12.5B ($14.2B total debt minus $1.7B cash). Interest coverage of 22.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.39 | 0.39 | 0.32 | 0.31 | 0.29 | 0.85 | 1.42 | 1.67 | 1.59 | 1.69 | 2.00 |
| Debt / EBITDA | 1.85 | 1.85 | 1.77 | 2.32 | 1.96 | 1.07 | 1.24 | 1.36 | 1.22 | 1.29 | 1.01 |
| Net Debt / Equity | — | 0.34 | 0.27 | 0.28 | 0.26 | -0.32 | 0.19 | 0.65 | 0.76 | 0.37 | 0.66 |
| Net Debt / EBITDA | 1.63 | 1.63 | 1.52 | 2.07 | 1.74 | -0.41 | 0.17 | 0.53 | 0.58 | 0.29 | 0.33 |
| Debt / FCF | — | 2.28 | 1.84 | 3.00 | 4.12 | -0.50 | 0.19 | 0.68 | 0.89 | 0.42 | 0.87 |
| Interest Coverage | 22.70 | 22.70 | 18.87 | 11.99 | 16.47 | 35.99 | 23.89 | 21.78 | 21.01 | 17.52 | 18.61 |
SPGI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.82x is below 1.0, meaning current liabilities exceed current assets — though the company's $1.7B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.82 | 0.82 | 0.85 | 0.84 | 0.94 | 2.31 | 1.67 | 1.52 | 1.37 | 1.35 | 1.41 |
| Quick Ratio | 0.82 | 0.82 | 0.85 | 0.84 | 0.94 | 2.31 | 1.67 | 1.52 | 1.37 | 1.35 | 1.41 |
| Cash Ratio | 0.23 | 0.23 | 0.26 | 0.21 | 0.21 | 1.70 | 1.15 | 0.93 | 0.73 | 0.86 | 0.92 |
| Asset Turnover | — | 0.25 | 0.24 | 0.21 | 0.18 | 0.55 | 0.59 | 0.59 | 0.66 | 0.64 | 0.65 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
SPGI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
S&P Global Inc. returns 5.0% to shareholders annually — split between a 0.9% dividend yield and 4.1% buyback yield. The payout ratio of 26.2% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 3.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 26.2% | 26.2% | 29.4% | 43.7% | 31.5% | 24.6% | 27.6% | 26.4% | 25.7% | 28.1% | 18.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 2.8% | 2.5% | 1.9% | 3.0% | 2.7% | 2.9% | 3.1% | 4.5% | 3.4% | 7.4% |
| FCF Yield | 4.5% | 3.4% | 3.6% | 2.5% | 2.4% | 3.1% | 4.4% | 3.9% | 4.5% | 4.3% | 4.7% |
| Buyback Yield | 4.1% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 5.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $305M | $312M | $319M | $319M | $242M | $242M | $247M | $253M | $259M | $265M |
Peer Comparison
Compare SPGI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SPGIYou | $122B | 28.0 | 17.5 | 22.3 | 70.2% | 42.2% | 12.1% | 9.7% | 1.9 |
 MCO | $80B | 33.0 | 21.6 | 31.0 | 68.2% | 44.8% | 62.0% | 22.5% | 1.9 |
 ICE | $76B | 23.2 | 14.8 | 17.7 | 61.9% | 38.7% | 11.7% | 7.5% | 3.1 |
 MSCI | $42B | 37.4 | 24.9 | 27.3 | 82.4% | 54.7% | — | 34.9% | 3.3 |
 LSE | $68M | 8.4 | 7.9 | 4.7 | 23.2% | 10.9% | 22.4% | 17.3% | 0.2 |
 FDS | $8B | 14.2 | 10.1 | 13.3 | 52.7% | 32.2% | 29.1% | 15.5% | 1.7 |
 NDAQ | $47B | 26.6 | 18.8 | 23.5 | 47.9% | 28.4% | 15.3% | 8.1% | 3.3 |
 TRI | $34B | 23.1 | 12.3 | 16.7 | 75.8% | 26.6% | 12.6% | 11.2% | 0.7 |
 VRSK | $23B | 26.8 | 15.3 | 19.1 | 67.3% | 44.6% | 437.9% | 33.0% | 3.0 |
 BLK | $174B | 29.6 | 23.0 | 46.3 | 55.5% | 29.1% | 10.0% | 7.5% | 1.9 |
 GS | $348B | 21.4 | 33.0 | — | 47.5% | 17.5% | 13.9% | 2.2% | 25.4 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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SPGI — Frequently Asked Questions
Quick answers to the most common questions about buying SPGI stock.
What is S&P Global Inc.'s P/E ratio?
S&P Global Inc.'s current P/E ratio is 28.0x. The historical average is 25.6x. This places it at the 52th percentile of its historical range.
What is S&P Global Inc.'s EV/EBITDA?
S&P Global Inc.'s current EV/EBITDA is 17.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.4x.
What is S&P Global Inc.'s ROE?
S&P Global Inc.'s return on equity (ROE) is 12.1%. The historical average is 43.2%.
Is SPGI stock overvalued?
Based on historical data, S&P Global Inc. is trading at a P/E of 28.0x. This is at the 52th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is S&P Global Inc.'s dividend yield?
S&P Global Inc.'s current dividend yield is 0.93% with a payout ratio of 26.2%.
What are S&P Global Inc.'s profit margins?
S&P Global Inc. has 70.2% gross margin and 42.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does S&P Global Inc. have?
S&P Global Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.