Cash flow S&P Global, Inc.

Stocks

SPGI

US78409V1044

Professional Information Services

Market Closed - NYSE Other stock markets 21:00:02 11/06/2026 BST			Pre-market 12:29:57
413.34 ^USD	-3.06%		416.80	+0.84%

08:50am	First Advantage to Join S&P SmallCap 600, Replacing Kennedy-Wilson	MT
07:50am	Real estate overvaluation a key risk to Hungary's banks, S&P Global says	RE

abaa41bb71cca2.DXmiAOLueba_hgER4b4qWaBC_gh3G7ChYfr30y6s-hw.OiaRQo6ML-755TMjm_lrMcYXlT5DSNOYEc65t2fFnl5hHZNUloQ_2YzVUA

Published financial data: S&P GLOBAL, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	8.3B	11.18B	12.5B	14.21B	15.34B
Total Revenues	8.3B	11.18B	12.5B	14.21B	15.34B
Cost of Goods Sold, Total	2.2B	3.77B	4.14B	4.39B	4.56B
Gross Profit	6.1B	7.42B	8.36B	9.82B	10.77B
Selling General & Admin Expenses, Total	1.39B	2.44B	2.64B	2.85B	3.13B
Depreciation & Amortization - (IS)	82M	108M	101M	96M	110M
Amortization of Goodwill and Intangible Assets - (IS)	96M	905M	1.04B	1.08B	1.07B
Other Operating Expenses, Total	1.57B	3.45B	3.78B	4.02B	4.31B
Operating Income	4.54B	3.96B	4.57B	5.79B	6.46B
Interest Expense, Total	-119M	-300M	-330M	-293M	-283M
Net Interest Expenses	-119M	-300M	-330M	-293M	-283M
Income (Loss) On Equity Invest.	-	27M	36M	43M	28M
Currency Exchange Gains (Loss)	-	-4M	-4M	-4M	-4M
EBT, Excl. Unusual Items	4.42B	3.69B	4.28B	5.54B	6.21B
Restructuring Charges	-19M	-288M	-183M	-127M	-158M
Merger & Related Restructuring Charges	-255M	-615M	-315M	-131M	-47M
Gain (Loss) On Sale Of Investments	17M	59M	-15M	1M	287M
Gain (Loss) On Sale Of Assets	11M	1.9B	-70M	59M	-
Asset Writedown	-3M	-18M	-21M	-3M	-22M
Insurance Settlements	-	-	-	-	-
Legal Settlements	-	-	-	-20M	3M
Other Unusual Items	-3M	-21M	-	-9M	-42M
EBT, Incl. Unusual Items	4.16B	4.7B	3.67B	5.31B	6.23B
Income Tax Expense	901M	1.18B	778M	1.14B	1.41B
Earnings From Continuing Operations	3.26B	3.52B	2.89B	4.17B	4.82B
Net Income to Company	3.26B	3.52B	2.89B	4.17B	4.82B
Minority Interest	-239M	-274M	-267M	-315M	-349M
Net Income - (IS)	3.02B	3.25B	2.63B	3.85B	4.47B
Net Income to Common Incl Extra Items	3.02B	3.25B	2.63B	3.85B	4.47B
Net Income to Common Excl. Extra Items	3.02B	3.25B	2.63B	3.85B	4.47B
Per Share Items
Net EPS - Basic	12.56	10.25	8.25	12.36	14.67
Basic EPS - Continuing Operations	12.56	10.25	8.25	12.36	14.67
Basic Weighted Average Shares Outstanding	241M	317M	318M	312M	305M
Net EPS - Diluted	12.51	10.2	8.23	12.35	14.66
Diluted EPS - Continuing Operations	12.51	10.2	8.23	12.35	14.66
Diluted Weighted Average Shares Outstanding	242M	318M	319M	312M	305M
Normalized Basic EPS	10.47	6.41	7.55	10.1	11.58
Normalized Diluted EPS	10.43	6.37	7.54	10.09	11.57
Dividend Per Share	3.08	3.32	3.6	3.64	3.84
Payout Ratio	24.57	31.53	43.68	29.44	26.17
American Depositary Receipts Ratio (ADR)	0.03	0.03	0.03	0.03	0.03
Supplemental Items
EBITDA	4.71B	4.98B	5.72B	6.96B	7.64B
EBITA	4.63B	4.87B	5.62B	6.87B	7.53B
EBIT	4.54B	3.96B	4.57B	5.79B	6.46B
EBITDAR	4.84B	5.12B	5.83B	7.08B	7.74B
Effective Tax Rate - (Ratio)	21.64	25.1	21.19	21.5	22.6
Current Domestic Taxes	591M	1.19B	775M	992M	1.2B
Current Foreign Taxes	295M	322M	370M	472M	448M
Total Current Taxes	886M	1.52B	1.14B	1.46B	1.65B
Deferred Domestic Taxes	-8M	-237M	-217M	-162M	-190M
Deferred Foreign Taxes	23M	-98M	-150M	-161M	-52M
Total Deferred Taxes	15M	-335M	-367M	-323M	-242M
Normalized Net Income	2.52B	2.03B	2.4B	3.15B	3.53B
Non-Cash Pension Expense	-40M	-11M	2M	-20M	-20M
Supplemental Operating Expense Items
Advertising Expense	39M	177M	209M	229M	252M
Research And Development Expense From Footnotes	-	-	-	-	-
Net Rental Expense, Total	122M	147M	118M	116M	98M
Imputed Operating Lease Interest Expense	23.88M	42.45M	26.23M	22.52M	17.23M
Imputed Operating Lease Depreciation	98.12M	105M	91.77M	93.48M	80.77M
Stock-Based Comp., Other (Total)	122M	214M	171M	247M	236M
Total Stock-Based Compensation	122M	214M	171M	247M	236M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	6.5B	1.29B	1.29B	1.67B	1.74B
Short Term Investments	11M	14M	26M	20M	56M
Total Cash And Short Term Investments	6.51B	1.3B	1.32B	1.69B	1.8B
Accounts Receivable, Total	1.65B	2.49B	2.83B	2.87B	3.44B
Total Receivables	1.65B	2.49B	2.83B	2.87B	3.44B
Prepaid Expenses	311M	566M	922M	902M	845M
Restricted Cash	8M	1M	1M	-	-
Other Current Assets, Total	333M	1.31B	78M	4M	209M
Total Current Assets	8.81B	5.67B	5.14B	5.46B	6.3B
Gross Property Plant And Equipment	1.29B	1.58B	1.43B	1.5B	1.55B
Accumulated Depreciation	-620M	-859M	-794M	-823M	-861M
Net Property Plant And Equipment	667M	720M	637M	678M	691M
Long-term Investments	-	1.9B	1.92B	1.77B	603M
Goodwill	3.51B	34.54B	34.85B	34.92B	36.48B
Other Intangibles, Total	1.33B	18.38B	17.51B	16.69B	16.45B
Deferred Tax Assets Long-Term	56M	81M	64M	73M	-
Other Long-Term Assets, Total	659M	499M	467M	630M	682M
Total Assets	15.03B	61.78B	60.59B	60.22B	61.2B
Liabilities
Accounts Payable, Total	205M	450M	557M	553M	610M
Accrued Expenses, Total	607M	753M	906M	1.07B	1.03B
Short-term Borrowings	-	226M	-	-	715M
Current Portion of Long-Term Debt	-	-	47M	4M	3M
Current Portion of Leases	96M	118M	105M	109M	124M
Current Income Taxes Payable	90M	116M	121M	199M	180M
Unearned Revenue Current, Total	2.22B	3.13B	3.46B	3.69B	4.09B
Other Current Liabilities	600M	1.21B	928M	760M	883M
Total Current Liabilities	3.82B	6B	6.12B	6.39B	7.64B
Long-Term Debt	4.38B	10.73B	11.41B	11.39B	12.37B
Long-Term Leases	492M	577M	541M	535M	494M
Pension & Other Post Retirement Benefits	262M	180M	199M	180M	178M
Deferred Tax Liability Non Current	147M	4.06B	3.69B	3.4B	3.26B
Other Non Current Liabilities	390M	489M	522M	815M	1.11B
Total Liabilities	9.49B	22.04B	22.49B	22.71B	25.05B
Common Stock, Total	294M	415M	415M	415M	415M
Additional Paid In Capital	1.03B	44.42B	44.23B	44.32B	44.12B
Retained Earnings	15.02B	17.78B	18.73B	20.98B	23.67B
Treasury Stock	-13.47B	-25.35B	-28.41B	-31.67B	-36.37B
Comprehensive Income and Other	-841M	-886M	-763M	-883M	-697M
Total Common Equity	2.03B	36.39B	34.2B	33.16B	31.13B
Minority Interest	3.5B	3.36B	3.9B	4.35B	5.02B
Total Equity	5.54B	39.74B	38.1B	37.51B	36.15B
Total Liabilities And Equity	15.03B	61.78B	60.59B	60.22B	61.2B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	241M	322M	314M	308M	299M
ECS Total Common Shares Outstanding	241M	322M	314M	308M	299M
Book Value / Share	8.43	113.04	108.88	107.73	104.17
Tangible Book Value	-2.8B	-16.53B	-18.16B	-18.45B	-21.8B
Tangible Book Value Per Share	-11.63	-51.36	-57.81	-59.94	-72.96
Total Debt	4.97B	11.65B	12.1B	12.04B	13.71B
Net Debt	-1.54B	10.35B	10.79B	10.36B	11.9B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-109M	-57M	-48M	-72M	-81M
Debt Equivalent Oper. Leases	976M	1.18B	944M	928M	784M
Minority Interest, Total (Incl. Fin. Div)	3.5B	3.36B	3.9B	4.35B	5.02B
Equity Method Investments, Total	-	1.75B	1.79B	1.77B	603M
Account Code - Inventory Valuation	3	3	-	3	3
Buildings, Total	346M	468M	424M	433M	444M
Machinery, Total	515M	688M	628M	655M	695M
Full Time Employees	22.85K	39.95K	40.45K	42.35K	44.5K
Accumulated Allowance for Doubtful Accounts (Supple)	26M	48M	54M	44M	50M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	3.02B	3.25B	2.63B	3.85B	4.47B
Depreciation & Amortization - CF	82M	108M	101M	96M	110M
Amortization of Goodwill and Intangible Assets - (CF)	96M	905M	1.04B	1.08B	1.07B
Depreciation & Amortization, Total	178M	1.01B	1.14B	1.17B	1.18B
(Gain) Loss From Sale Of Asset	-11M	-1.9B	70M	-59M	-3M
(Gain) Loss on Sale of Investments - (CF)	-	-	-	-	-270M
Asset Writedown & Restructuring Costs	31M	132M	246M	206M	324M
Stock-Based Compensation (CF)	122M	214M	171M	247M	236M
Provision and Write-off of Bad Debts	14M	24M	28M	43M	39M
Other Operating Activities, Total	310M	-56M	-114M	-8M	107M
Change In Accounts Receivable	-144M	36M	-291M	-79M	-600M
Change In Accounts Payable	38M	43M	328M	245M	-55M
Change in Unearned Revenues	198M	37M	352M	222M	327M
Change In Income Taxes	-36M	-135M	-175M	192M	100M
Change in Other Net Operating Assets	-126M	-55M	-674M	-345M	-204M
Cash from Operations	3.6B	2.6B	3.71B	5.69B	5.65B
Capital Expenditure	-35M	-89M	-143M	-124M	-195M
Cash Acquisitions	-99M	210M	-296M	-305M	-2.02B
Divestitures	16M	3.51B	1.01B	168M	49M
Investment in Marketable and Equity Securities, Total	-2M	-2M	-13M	6M	1.46B
Cash from Investing	-120M	3.63B	562M	-255M	-704M
Short Term Debt Issued, Total	-	-	-	-	715M
Long-Term Debt Issued, Total	-	5.4B	744M	-	993M
Total Debt Issued	-	5.4B	744M	-	1.71B
Short Term Debt Repaid, Total	-	-32M	-188M	-	-
Long-Term Debt Repaid, Total	-	-3.7B	-	-47M	-4M
Total Debt Repaid	-	-3.73B	-188M	-47M	-4M
Issuance of Common Stock	13M	7M	13M	-	-
Repurchase of Common Stock	-56M	-12.11B	-3.41B	-3.42B	-5.13B
Common Dividends Paid	-743M	-1.02B	-1.15B	-1.13B	-1.17B
Common & Preferred Stock Dividends Paid	-743M	-1.02B	-1.15B	-1.13B	-1.17B
Other Financing Activities, Total	-227M	140M	-289M	-394M	-331M
Cash from Financing	-1.01B	-11.33B	-4.28B	-5B	-4.93B
Foreign Exchange Rate Adjustments	-82M	-123M	12M	-61M	62M
Net Change in Cash	2.38B	-5.22B	4M	375M	79M
Supplemental Items
Cash Interest Paid	130M	240M	369M	391M	390M
Cash Income Tax Paid (Refund)	883M	1.56B	1.28B	1.16B	1.5B
Levered Free Cash Flow	2.83B	3.3B	4.68B	5.09B	4.88B
Unlevered Free Cash Flow	2.9B	3.49B	4.89B	5.28B	5.05B
Change In Net Working Capital	199M	129M	-858M	-360M	206M
Net Debt Issued / Repaid	-	1.66B	556M	-47M	1.7B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	20.57	6.45	4.67	5.99	6.66
Return on Total Capital	30.45	8	5.63	7.26	8.13
Return On Equity %	73.42	15.56	7.43	11.02	13.09
Return on Common Equity	238.02	16.91	7.44	11.44	13.91
Margin Analysis
Gross Profit Margin %	73.54	66.32	66.86	69.09	70.25
SG&A Margin	16.74	21.8	21.12	20.07	20.4
EBITDA Margin %	56.8	44.51	45.74	49.02	49.84
EBITA Margin %	55.82	43.55	44.93	48.35	49.13
EBIT Margin %	54.66	35.45	36.59	40.77	42.16
Income From Continuing Operations Margin %	39.33	31.5	23.15	29.33	31.43
Net Income Margin %	36.45	29.05	21.01	27.11	29.15
Net Avail. For Common Margin %	36.45	29.05	21.01	27.11	29.15
Normalized Net Income Margin	30.38	18.16	19.24	22.14	23.02
Levered Free Cash Flow Margin	34.06	29.51	37.46	35.85	31.81
Unlevered Free Cash Flow Margin	34.96	31.18	39.11	37.13	32.96
Asset Turnover
Asset Turnover	0.6	0.29	0.2	0.24	0.25
Fixed Assets Turnover	11.48	16.12	18.42	21.61	22.4
Receivables Turnover (Average Receivables)	5.12	5.4	4.7	4.99	4.86
Short Term Liquidity
Current Ratio	2.31	0.94	0.84	0.85	0.82
Quick Ratio	2.14	0.63	0.68	0.71	0.69
Operating Cash Flow to Current Liabilities	0.94	0.43	0.61	0.89	0.74
Days Sales Outstanding (Average Receivables)	71.33	67.64	77.69	73.33	75.07
Average Days Payable Outstanding	36.42	31.74	44.38	46.26	46.51
Long Term Solvency
Total Debt/Equity	89.81	29.32	31.77	32.11	37.91
Total Debt / Total Capital	47.32	22.67	24.11	24.3	27.49
LT Debt/Equity	88.08	28.45	31.37	31.8	35.58
Long-Term Debt / Total Capital	46.4	22	23.81	24.07	25.8
Total Liabilities / Total Assets	63.16	35.67	37.12	37.72	40.93
EBIT / Interest Expense	38.11	13.21	13.86	19.77	22.84
EBITDA / Interest Expense	40.63	17.08	17.68	24.17	27.36
(EBITDA - Capex) / Interest Expense	40.34	16.78	17.25	23.74	26.67
Total Debt / EBITDA	1.03	2.27	2.07	1.7	1.77
Net Debt / EBITDA	-0.32	2.02	1.85	1.46	1.54
Total Debt / (EBITDA - Capex)	1.04	2.31	2.13	1.73	1.82
Net Debt / (EBITDA - Capex)	-0.32	2.06	1.9	1.49	1.58
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	11.49	34.76	11.77	13.69	7.94
Gross Profit, 1 Yr. Growth %	14.1	21.52	12.49	17.48	9.4
EBITDA, 1 Yr. Growth %	15.63	5.6	15.38	21.85	9.75
EBITA, 1 Yr. Growth %	15.98	5.14	15.87	22.33	9.68
EBIT, 1 Yr. Growth %	17.18	-12.59	16.04	26.66	11.62
Earnings From Cont. Operations, 1 Yr. Growth %	28.77	7.94	-17.86	44.04	15.67
Net Income, 1 Yr. Growth %	29.29	7.41	-19.15	46.69	16.07
Normalized Net Income, 1 Yr. Growth %	18.04	-19.46	19.29	30.83	12.19
Diluted EPS Before Extra, 1 Yr. Growth %	29.5	-18.47	-19.31	50.06	18.7
Accounts Receivable, 1 Yr. Growth %	3.58	51.15	13.31	1.45	20.02
Net Property, Plant and Equip., 1 Yr. Growth %	-14.27	7.95	-11.53	6.44	1.92
Total Assets, 1 Yr. Growth %	19.85	311.18	-1.93	-0.61	1.63
Tangible Book Value, 1 Yr. Growth %	-39.57	490.01	9.83	1.6	18.18
Common Equity, 1 Yr. Growth %	299.21	1.69K	-6.01	-3.04	-6.13
Cash From Operations, 1 Yr. Growth %	0.87	-27.65	42.53	53.34	-0.67
Capital Expenditures, 1 Yr. Growth %	-53.95	154.29	60.67	-13.29	57.26
Levered Free Cash Flow, 1 Yr. Growth %	-5.91	16.61	42.51	8.8	-4.22
Unlevered Free Cash Flow, 1 Yr. Growth %	-6.19	20.21	40.75	7.96	-4.2
Dividend Per Share, 1 Yr. Growth %	14.93	7.79	8.43	1.11	5.49
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	11.29	22.57	22.73	12.73	10.78
Gross Profit, 2 Yr. CAGR %	13.67	17.75	16.88	14.96	13.55
EBITDA, 2 Yr. CAGR %	16.44	10.5	10.16	18.57	15.64
EBITA, 2 Yr. CAGR %	16.81	10.43	10.15	19.06	15.83
EBIT, 2 Yr. CAGR %	17.73	1.21	0.45	21.23	18.9
Earnings From Cont. Operations, 2 Yr. CAGR %	19.03	17.89	-5.84	8.77	29.08
Net Income, 2 Yr. CAGR %	19.35	17.84	-6.81	8.9	30.48
Normalized Net Income, 2 Yr. CAGR %	19.11	-2.5	-2.29	24.93	21.15
Diluted EPS Before Extra, 2 Yr. CAGR %	20.61	2.76	-18.89	10.04	33.46
Accounts Receivable, 2 Yr. CAGR %	2.29	25.12	30.87	7.22	10.35
Net Property, Plant and Equip., 2 Yr. CAGR %	-18.17	-3.8	-2.27	-2.96	4.15
Total Assets, 2 Yr. CAGR %	15.07	121.99	100.81	-1.27	0.5
Tangible Book Value, 2 Yr. CAGR %	-21.98	88.82	154.56	5.64	9.58
Common Equity, 2 Yr. CAGR %	105.97	745.51	310.25	-4.54	-4.6
Cash From Operations, 2 Yr. CAGR %	13.85	-14.57	1.54	47.84	23.42
Capital Expenditures, 2 Yr. CAGR %	-44.83	8.22	102.13	18.04	16.77
Levered Free Cash Flow, 2 Yr. CAGR %	10.63	4.8	28.67	24.52	2.08
Unlevered Free Cash Flow, 2 Yr. CAGR %	10	6.19	29.85	23.27	1.7
Dividend Per Share, 2 Yr. CAGR %	16.23	11.3	8.11	4.71	3.28
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	9.86	18.62	18.86	19.64	11.11
Gross Profit, 3 Yr. CAGR %	11.35	16.22	16.04	17.08	13.19
EBITDA, 3 Yr. CAGR %	14.17	12.71	11.93	13.93	15.55
EBITA, 3 Yr. CAGR %	14.52	12.78	12.03	14.07	15.85
EBIT, 3 Yr. CAGR %	15.27	6.6	5.72	8.52	17.94
Earnings From Cont. Operations, 3 Yr. CAGR %	15.44	15.21	4.52	8.49	11.02
Net Income, 3 Yr. CAGR %	15.59	15.23	3.93	8.4	11.24
Normalized Net Income, 3 Yr. CAGR %	16.27	4.55	4.04	7.69	20.53
Diluted EPS Before Extra, 3 Yr. CAGR %	17.41	5.85	-5.2	-0.43	12.85
Accounts Receivable, 3 Yr. CAGR %	4.43	16.51	21.06	20.22	11.33
Net Property, Plant and Equip., 3 Yr. CAGR %	35.18	-10.25	-6.45	0.55	-1.36
Total Assets, 3 Yr. CAGR %	16.75	75.92	69.07	58.84	-0.32
Tangible Book Value, 3 Yr. CAGR %	-14.8	53.14	57.62	87.42	9.66
Common Equity, 3 Yr. CAGR %	47.91	323.52	306.54	153.64	-5.07
Cash From Operations, 3 Yr. CAGR %	20.35	-2.12	1.32	16.5	29.48
Capital Expenditures, 3 Yr. CAGR %	-32.34	-8.19	23.45	52.45	29.88
Levered Free Cash Flow, 3 Yr. CAGR %	19.6	12.63	15.94	21.67	14.09
Unlevered Free Cash Flow, 3 Yr. CAGR %	18.67	13.3	16.49	22.1	13.34
Dividend Per Share, 3 Yr. CAGR %	15.48	13.34	10.34	5.73	4.97
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.95	13.02	14.83	16.23	15.56
Gross Profit, 5 Yr. CAGR %	9.43	11.16	13.58	15.76	15.03
EBITDA, 5 Yr. CAGR %	13.79	11.17	12.54	14.91	13.4
EBITA, 5 Yr. CAGR %	14.19	11.31	12.74	15.14	13.54
EBIT, 5 Yr. CAGR %	14.65	7.58	9.08	12.1	10.81
Earnings From Cont. Operations, 5 Yr. CAGR %	7.93	16.55	6.4	12.59	13.72
Net Income, 5 Yr. CAGR %	7.5	16.77	6.05	12.65	13.83
Normalized Net Income, 5 Yr. CAGR %	16.09	6.47	8.44	12.11	10.57
Diluted EPS Before Extra, 5 Yr. CAGR %	9.52	12.03	1.26	7.51	8.7
Accounts Receivable, 5 Yr. CAGR %	8.02	13.59	14.29	12.7	16.65
Net Property, Plant and Equip., 5 Yr. CAGR %	19.74	21.23	18.73	-7.4	-2.34
Total Assets, 5 Yr. CAGR %	11.63	45.65	45.04	39.63	37.31
Tangible Book Value, 5 Yr. CAGR %	-6.2	34.54	32	32	36.28
Common Equity, 5 Yr. CAGR %	25.6	119.82	122.44	133.37	127.66
Cash From Operations, 5 Yr. CAGR %	18.19	5.24	12.44	15.43	9.64
Capital Expenditures, 5 Yr. CAGR %	-21.17	-6.27	4.82	1.52	20.74
Levered Free Cash Flow, 5 Yr. CAGR %	8.92	13.88	23.16	17.14	10.18
Unlevered Free Cash Flow, 5 Yr. CAGR %	8.19	13.94	23	17.09	10.33
Dividend Per Share, 5 Yr. CAGR %	16.42	15.15	12.47	9.81	7.46