SPGI · 10-Q · 2026Q1 · Full report

Operating Cash Flow Trends

S&P Global Inc. · 2026-04-28 · Importance 50 · Surprise 24

Cash provided by operating activities for the three months ended March 31, 2026 was $1,037 million.,Operating cash generation of $1,037 million supported $1,000 million of ASR share repurchase cash outflows disclosed in financing activities, as well as dividend distributions paid during the quarter.,The company continues to convert a substantial portion of net income into cash flow in the quarter (net income was $1,504 million in Q1 2026).

Key facts

• Cash provided by investing activities was $291 million for the first three months of 2026 compared to cash used of $79 million for the first three months of 2025.
• Net cash provided by operating activities was $1,037 million for the three months ended March 31, 2026, an increase of 9% year-over-year.
• Cash provided by operating activities increased $84 million to $1,037 million for the first three months of 2026 compared to 2025.
• Free cash flow increased $103 million to $919 million for the first three months of 2026 compared to $816 million for the first three months of 2025.
• Net cash provided by operating activities for the three months ended March 31, 2026: $1,037 million.
• Cash used for financing activities was $1,237 million for the three months ended March 31, 2026, an increase of $134 million from the comparable period in 2025.
• S&P Global's cash provided by operating activities increase in Q1 2026 was primarily attributable to higher operating results, stronger cash collections and lower tax payments in 2026.

Impact estimates