SPGI · 10-Q · 2026Q3 · Full report

Indices Segment Performance

S&P Global Inc. · 2026-10-28 · Importance 59 · Surprise 48

Indices revenue increased 20% in the third quarter and 19% for the first nine months of 2026; nine-month revenue reached $1.606 billion, up from $1.352 billion. Asset-linked fees increased 21% for the nine-month period, supported by higher ETF and mutual-fund assets under management, while exchange-traded derivative revenue and data subscription revenue also grew. Ending ETF AUM rose 26% year over year to $6.517 trillion at September 30, 2026, and average ETF AUM rose 32% to $6.048 trillion for the nine-month period. Nine-month operating profit increased 21% to $1.125 billion, primarily on revenue growth, partly offset by higher compensation and strategic investment costs.

Key facts

• At September 30, 2026, ending ETF AUM increased 26% to $6.517 trillion year over year, and average ETF AUM increased 32% to $6.516 trillion for the three-month period. source
• Average ETF AUM increased 32% to $6.048 trillion for the nine months ended September 30, 2026, while ending ETF AUM increased 26% to $6.517 trillion year over year. source
• Three-month Indices revenue increased 20%, primarily from higher ETF and mutual-fund AUM-linked fees, exchange-traded derivatives revenue, and data subscriptions. source
• Three-month Indices operating profit increased 24%; excluding 2025 severance and acquisition-cost effects of 1 percentage point each, it increased 22%. source
• Nine-month Indices operating profit increased 21%; excluding 2026 employee-related costs of 1 percentage point, it increased 20%. source
• Nine-month Indices revenue increased 19%, driven by higher ETF and mutual-fund AUM-linked fees, exchange-traded derivatives revenue, and data-subscription revenue. source
• Q3 2026 Indices revenue growth was primarily driven by higher ETF and mutual fund assets under management, higher exchange-traded derivative revenue, and higher data subscription revenue. source
• Indices revenue increased due to higher ETF and mutual-fund AUM-linked fees, higher exchange-traded derivatives revenue, and higher data-subscription revenue. source