How does S&P Global (SPGI) make money?

S&P Global (SPGI) generates revenue primarily from Ratings Segment, which accounted for 38.2% of total revenue in TTM through Q2 2026. The company reported $16.1B in revenue and converted 30.5% of it into net profit, equivalent to roughly $4.92B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of S&P Global (SPGI)?

S&P Global (SPGI) reported a gross profit margin of 69.1% in TTM through Q2 2026, equivalent to $11.1B in gross profit on $16.1B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of S&P Global (SPGI)?

S&P Global (SPGI) reported an operating profit margin of 46.3% in TTM through Q2 2026, equivalent to $7.46B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of S&P Global (SPGI)?

S&P Global (SPGI) reported a net profit margin of 30.5% in TTM through Q2 2026, equivalent to $4.92B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is S&P Global (SPGI) profitable?

Yes. S&P Global (SPGI) reported $4.92B in net income for TTM through Q2 2026, with a net profit margin of 30.5%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does S&P Global (SPGI) spend on capital expenditures?

S&P Global (SPGI) spent $156M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 1.0% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does S&P Global (SPGI) generate?

S&P Global (SPGI) generated $5.57B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 34.6%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of S&P Global (SPGI)?

S&P Global (SPGI) had an effective tax rate of 22.6% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of S&P Global (SPGI)?

S&P Global (SPGI) reports revenue across 5 reportable product segments, led by Ratings Segment at 38.2% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does S&P Global (SPGI) generate most of its revenue?

UNITED STATES is the largest geographic market for S&P Global (SPGI), accounting for 61.2% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How S&P Global Makes Money: 2026 Visual Revenue Map

S&P Global (SPGI) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 28, 2026).

S&P Global (SPGI) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for S&P Global (SPGI), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Ratings Segment	$6.15B	38.2%
Market Intelligence Segment	$5.28B	32.8%
Indices Segment	$2.32B	14.4%
Mobility	$1.68B	10.4%
Commodity Insights	$684M	4.2%
Total	$16.1B	100%

Ratings Segment$6.15B
Market Intelligence Segment$5.28B
Indices Segment$2.32B
Mobility$1.68B
Commodity Insights$684M
Total$16.1B

S&P Global (SPGI) Revenue by Geography — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for S&P Global (SPGI), TTM through Q2 2026
Region	Revenue (USD)	% of total
UNITED STATES	$9.87B	61.2%
Europe	$3.67B	22.7%
Asia	$1.72B	10.7%
Rest Of World	$869M	5.4%
Total	$16.1B	100%

UNITED STATES
Europe
Asia
Rest Of World
Total

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, S&P Global (SPGI) reports revenue across 5 reportable product segments; the largest segment was Ratings Segment at 38.2%, followed by Market Intelligence Segment (32.8%) and Indices Segment (14.4%). Geographically, UNITED STATES accounted for 61.2% of revenue, followed by Europe (22.7%) and Asia (10.7%).

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