SPGI · 10-Q · 2026Q2

S&P Global Inc.

Filed 2026-07-28 · Other

Ranked Events

• Liquidity and Cash PositionImportance 75 · Surprise 64
  Cash, cash equivalents and restricted cash totaled $4.141 billion as of June 30, 2026, an increase of $2.396 billion from December 31, 2025. Cash from operations, cash on hand and credit-facility availability are…
• Interest Rate and Refinancing ExposureImportance 74 · Surprise 58
  Total debt outstanding was $15.170 billion at June 30, 2026, including $2.572 billion of short-term debt and $12.598 billion of long-term debt, compared with $13.088 billion at December 31, 2025. S&P Global repaid its…
• Operating Profit and Margin DriversImportance 67 · Surprise 66
  Operating profit increased 17% to $1,812 million in the second quarter and 22% to $3,814 million for the six months, compared with $1,551 million and $3,129 million, respectively, in 2025. Six-month operating profit…
• Outstanding IndebtednessImportance 66 · Surprise 40
  S&P Global’s outstanding commercial paper increased to $825 million at June 30, 2026 from $715 million at December 31, 2025. The company’s registered senior notes include $600 million of 4.25% notes due 2031 and $400…
• Indices Revenue and AUM GrowthImportance 64 · Surprise 56
  Indices revenue increased 20% in the second quarter and 18% in the first half of 2026, driven by higher asset-linked fees, exchange-traded derivative revenue, and data subscription revenue. Ending ETF AUM increased 34%…
• Billed Issuance VolumesImportance 59 · Surprise 48
  Total billed issuance increased 25% in the second quarter and 19% for the six months ended June 30, 2026, reaching $1.268 trillion and $2.498 trillion, respectively. Six-month investment-grade billed issuance increased…
• Capital Return ProgramImportance 58 · Surprise 42
  S&P Global purchased 3.5 million shares for $1.5 billion of cash during the six months ended June 30, 2026 through February 12 and May 7 accelerated share repurchase agreements. The February 12, 2026 ASR delivered 2.0…
• Remaining Performance ObligationsImportance 56 · Surprise 24
  Remaining performance obligations totaled $5.8 billion at June 30, 2026. The company expects to recognize approximately half of that amount over the next timeframe specified in the filing and approximately…
• Ratings performanceImportance 54 · Surprise 40
  Ratings revenue increased 17% in the second quarter and 15% for the six months ended June 30, 2026, driven by higher transaction and non-transaction revenue. Corporate bond ratings revenue benefited primarily from…
• Geographic Market CommentaryImportance 54 · Surprise 40
  Ratings showed broad geographic strength, with second-quarter U.S. revenue increasing 20% and international revenue increasing 13%; six-month growth was 18% in the U.S. and 11% internationally. Market Intelligence…
• Market Demand TrendsImportance 54 · Surprise 40
  S&P Global’s second-quarter 2026 revenue increased 10% year over year to $4,146 million, with growth across all reportable segments. Ratings benefited from strong investment-grade corporate bond issuance, higher…
• Segment Revenue PerformanceImportance 54 · Surprise 40
  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…
• Operating Expense TrendsImportance 49 · Surprise 32
  Operating-related expenses increased 6% for the six months ended June 30, 2026, to $2,400 million, primarily because of annual merit increases, additional headcount linked partly to Market Intelligence acquisitions and…
• Unearned Revenue TrendsImportance 49 · Surprise 32
  Unearned revenue was $3.929 billion at June 30, 2026, compared with $4.088 billion at December 31, 2025. The decrease was primarily driven by recognition of $3.0 billion of revenue that had been included in the opening…
• Revenue Performance and MixImportance 49 · Surprise 32
  Revenue increased 10% year over year to $4,146 million in the second quarter of 2026 from $3,755 million, and increased 10% to $8,318 million for the six months from $7,532 million. Six-month revenue included $4,077…
• Quarterly Results Snapshot (Earnings and EPS)Importance 48 · Surprise 30
  Six-month net income attributable to S&P Global Inc. increased 20.9% to $2,613 million from $2,161 million. Second-quarter attributable net income increased 13.5% to $1,217 million from $1,072 million. Six-month…
• Geographic Revenue ConcentrationImportance 47 · Surprise 22
  The United States generated $5,154 million of revenue in the first six months of 2026, up 12% from $4,611 million in the comparable 2025 period. International revenue totaled $3,164 million, up 8% from $2,921 million,…
• Customer DynamicsImportance 45 · Surprise 50
  Mobility revenue increased 7% in the first half of 2026, led by new business growth in Dealer and solid underwriting volumes in Financial. Dealer and Financial also benefited from improved contract terms, indicating…
• AI Power Forecasting StrategyImportance 44 · Surprise 60
  S&P Global completed its acquisition of Enertel AI Corporation on March 18, 2026. Enertel provides AI- and machine-learning-driven short-term power-price forecasting for North American electricity markets. The…
• Private Markets ExpansionImportance 44 · Surprise 60
  S&P Global agreed on July 28, 2026 to acquire datacenterHawk, a provider of intelligence covering global data center, fiber optic and related infrastructure markets. The transaction would combine 451 Research’s data…

Revenue by Product (in millions)

Revenue by Geography (in millions)