SPGI · 10-Q · 2026Q2 · Full report
Segment Revenue Performance
S&P Global Inc. · 2026-07-28 · Importance 54 · Surprise 40 · No source text
Six-month external revenue increased to $2,579 million for Market Intelligence, $2,550 million for Ratings, $1,221 million for Energy, $1,047 million for Indices, and $921 million for Mobility, compared with $2,410 million, $2,212 million, $1,167 million, and $7,532 million of total company revenue in the comparable 2025 presentation. Ratings growth reflected higher corporate bond ratings revenue, surveillance revenue, Ratings Evaluation Service activity, and Crisil revenue. Market Intelligence growth reflected subscription expansion in Data, Analytics and Insights, Lending Solutions, RatingsXpress®, and recurring variable revenue from higher volumes. Indices benefited from higher ETF and mutual-fund assets under management, exchange-traded derivatives, and data subscriptions, while Energy benefited from expanded market-data and market-insights offerings under enterprise-use contracts.
Key facts
- Market Intelligence three months revenue was $1,290 million for the three months ended June 30, 2026, a 6% increase versus 2025, and six months revenue was $2,586 million, a 7% increase versus 2025.
- Market Intelligence subscription revenue was $1,076 million for the three months ended June 30, 2026, a 6% increase, and $2,128 million for the six months ended June 30, 2026, a 6% increase.
- Ratings revenue was $1,339 million for the three months ended June 30, 2026, a 17% increase versus 2025, and $2,641 million for the six months ended June 30, 2026, a 15% increase versus 2025.
- Six months ended June 30, 2026 revenue from external customers: Market Intelligence $2,579 million, Ratings $2,550 million, Energy $1,221 million, Indices $1,047 million and total $8,318 million
- As of June 30, 2026 total assets of Market Intelligence were $30,323 million and as of December 31, 2025 were $31,234 million
- As of June 30, 2026 total assets of Mobility were $12,835 million and as of December 31, 2025 were $12,974 million
- Market Intelligence operating profit increased 13% for the three months and 53% for the six months ended June 30, 2026 versus 2025.
- As of June 30, 2026 total assets of Energy were $8,480 million and as of December 31, 2025 were $8,543 million
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +31.0% | Six months ended June 30, 2026 revenue from external customers: Market Intelligence $2,579 million, Ratings $2,550 million, Energy $1,221… |
| revenue | positive | realized | +30.7% | Six months ended June 30, 2026 revenue from external customers: Market Intelligence $2,579 million, Ratings $2,550 million, Energy $1,221… |
| revenue | positive | realized | +14.7% | Six months ended June 30, 2026 revenue from external customers: Market Intelligence $2,579 million, Ratings $2,550 million, Energy $1,221… |
| revenue | positive | realized | +12.6% | Six months ended June 30, 2026 revenue from external customers: Market Intelligence $2,579 million, Ratings $2,550 million, Energy $1,221… |
| revenue | positive | realized | +4.1% | Ratings revenue was $1,339 million for the three months ended June 30, 2026, a 17% increase versus 2025, and $2,641 million for the six… |
| revenue | positive | realized | +2.3% | Ratings revenue was $1,339 million for the three months ended June 30, 2026, a 17% increase versus 2025, and $2,641 million for the six… |
| revenue | positive | realized | +1.4% | Market Intelligence subscription revenue was $1,076 million for the three months ended June 30, 2026, a 6% increase, and $2,128 million… |
| revenue | positive | realized | +0.9% | Market Intelligence three months revenue was $1,290 million for the three months ended June 30, 2026, a 6% increase versus 2025, and six… |
| revenue | positive | realized | +0.9% | Market Intelligence three months revenue was $1,290 million for the three months ended June 30, 2026, a 6% increase versus 2025, and six… |
| revenue | positive | realized | +0.7% | Market Intelligence subscription revenue was $1,076 million for the three months ended June 30, 2026, a 6% increase, and $2,128 million… |