What are the main business segments of S&P Global (SPGI) in 2026?

After completing the spin-off of its Mobility segment, S&P Global operates four primary reportable segments in 2026: Ratings, Market Intelligence, Indices, and Commodity Insights. Each serves distinct customer bases but shares a common foundation in proprietary data and analytical frameworks. Ratings assigns credit ratings to debt instruments and earns fees from issuers when new bonds are sold; it is the most cyclically sensitive segment. Market Intelligence provides financial data, research, and analytics tools, primarily through subscription contracts to financial institutions. Indices licenses benchmark indices, including the S&P 500 family, to asset managers, ETF providers, and derivatives markets, generating fees tied to assets under management and trading volumes. Commodity Insights delivers price assessments, news, and analytics for energy and commodity markets. Pro forma revenue excluding Mobility reached $3.678 billion in Q2 2026, growing approximately 11% year-over-year, suggesting the retained segments are performing well on a standalone basis.

Why has SPGI stock declined over the past 52 weeks despite strong earnings growth?

SPGI shares have declined approximately 20.66% over the past 52 weeks even as the company reported double-digit revenue growth and margin expansion in recent quarters. This divergence between operating performance and share price is a common occurrence in high-multiple stocks when investor sentiment, valuation re-rating, or broader market conditions shift. Several factors likely contributed. Elevated interest rate expectations weighed on growth-oriented financial stocks broadly, and SPGI's relatively premium valuation made it more sensitive to multiple compression. The Mobility spin-off, while strategically defensible, introduced near-term structural complexity and removed a revenue stream from reported figures, which may have caused some short-term earnings comparison confusion among investors. The trailing price-to-earnings ratio stands at approximately 25x, a notable compression from the higher multiples SPGI carried in prior years. Whether that compression reflects a structural reset or a temporary dislocation is a question analysts continue to debate, but the underlying business, with adjusted operating margins above 50% and adjusted EPS growth of roughly 23% year-over-year in Q2 2026, remains operationally intact.

What was S&P Global's revenue and EPS in Q2 2026?

S&P Global reported Q2 2026 GAAP revenue of $4.146 billion, a 10.4% increase compared to the same quarter a year earlier. GAAP operating profit grew 17% year-over-year to $1.812 billion, while GAAP net income rose 14% to $1.217 billion. On a per-share basis, GAAP diluted EPS came in at $4.12, representing approximately 18% year-over-year growth. The adjusted (non-GAAP) diluted EPS was $4.83, up roughly 23% year-over-year, reflecting a combination of operating leverage and share count reduction. The gap between GAAP and adjusted EPS is typical for SPGI and relates to amortization, restructuring charges, and other items the company excludes from its non-GAAP presentation. On a pro forma basis excluding the divested Mobility segment, revenue was $3.678 billion, growing approximately 11% year-over-year. Q2 2026 also saw approximately 200 basis points of margin expansion, consistent with management's ongoing efficiency focus across its retained segments.

What is SPGI's full-year 2026 adjusted EPS guidance?

S&P Global's full-year 2026 adjusted EPS guidance is in the mid-$17 range. This guidance is issued on a non-GAAP adjusted basis, reflecting the company's standard practice of excluding items such as amortization of acquired intangibles and restructuring costs from its forward earnings targets. The guidance implies continued adjusted EPS growth relative to prior periods, supported by the company's high-margin retained segments and ongoing operational discipline. Management has maintained this guidance range, which analysts have interpreted as a sign of confidence in underlying demand for ratings, data, and index products. For context, the mid-$17 annual adjusted EPS target frames the valuation discussion: at recent share price levels and a trailing P/E of approximately 25x, the forward implied multiple on adjusted earnings is somewhat lower, though the precise figure depends on the share price at the time of evaluation. Investors and analysts typically compare this guidance against consensus expectations to assess whether the stock's current multiple adequately reflects earnings trajectory.

How does the Mobility spin-off affect S&P Global's financials and valuation?

The spin-off of S&P Global's Mobility segment removes an automotive data business that had been acquired as part of the IHS Markit merger. Its departure reshapes both reported revenue and the structural profile of the remaining company. Total reported Q2 2026 GAAP revenue was $4.146 billion, while pro forma revenue excluding Mobility was $3.678 billion, the difference illustrates Mobility's revenue contribution in the comparable period. From a financial quality standpoint, the segments that remain, Ratings, Market Intelligence, Indices, and Commodity Insights, carry higher average margins and are more directly tied to capital markets activity. The adjusted operating margin for the retained company is above 50%, a level that is difficult to sustain when lower-margin automotive data operations are consolidated within the same reporting structure. On valuation, a leaner, higher-margin business can justify a different earnings multiple than a more diversified conglomerate. Some analysts argue the spin-off clarifies S&P Global's identity as a financial intelligence platform, potentially supporting a re-rating over time. The trailing P/E of approximately 25x and a market capitalization of roughly $123 billion as of mid-August 2026 reflect where the market currently prices that repositioned profile.

What is SPGI's adjusted operating margin and how does it compare to peers?

S&P Global's adjusted operating margin is above 50%, a threshold that places it among the most profitable publicly traded financial data companies by operating efficiency. This level of margin is notable even relative to other data and analytics businesses, which as a group tend to run higher margins than traditional financial services firms. The company reached approximately 200 basis points of margin expansion in Q2 2026, suggesting the current margin level is not static but continuing to improve. This expansion is driven by a combination of operating leverage on high-margin subscription and transaction revenue, cost discipline following the IHS Markit integration, and the removal of lower-margin Mobility operations from the consolidated entity. Comparison with peers is inherently approximate because reporting methodologies differ. Financial data and index businesses broadly operate at adjusted margins in the 30%-50% range, depending on their product mix and cost structures. SPGI's position above 50% places it at the upper end of that distribution, which is part of the analytical case for its premium valuation relative to the broader market.

How does debt issuance volume affect S&P Global's Ratings segment revenue?

S&P Global's Ratings segment earns a substantial portion of its revenue from transaction fees charged when issuers bring new debt instruments to market, corporate bonds, structured products, municipal bonds, and similar instruments. When debt issuance volumes rise, Ratings revenue tends to increase; when issuance slows, revenue from this transaction-sensitive component contracts. This creates a direct link between credit market activity and SPGI's top line. The magnitude of the effect depends on the composition of issuance. Investment-grade corporate debt, high-yield bonds, structured finance, and sovereign issuance each carry different fee structures and involve different rating agencies to varying degrees. A spike in investment-grade refinancing activity, for example, can meaningfully lift Ratings revenue even if overall issuance volume growth is modest. Because this segment is cyclically sensitive, investors and analysts monitor interest rate expectations, credit spreads, and refinancing calendars as leading indicators for SPGI's Ratings revenue trajectory. The broader Market Intelligence, Indices, and Commodity Insights segments provide a more stable subscription-based counterweight, but Ratings remains an important driver of quarterly revenue variability.

How does the passive investing trend benefit SPGI's Indices segment?

The secular shift toward passive investing directly expands S&P Global's Indices segment, because fund managers and product issuers pay licensing fees to use S&P benchmarks, most prominently the S&P 500, as the basis for exchange-traded funds, index mutual funds, and structured products. As assets under management benchmarked to S&P indices grow, so do the asset-based fees SPGI collects, creating a revenue stream that scales with market appreciation and net fund inflows rather than requiring proportional cost increases. This dynamic gives the Indices segment high incremental margins: once an index is constructed and maintained, licensing it to additional products carries minimal marginal expense. The proliferation of thematic, factor, and ESG index products has further extended the addressable market beyond traditional market-cap-weighted benchmarks. Because index licensing revenue is recurring and tied to AUM levels rather than transaction counts, it tends to be more stable than issuance-driven Ratings revenue, providing a counterbalancing element within SPGI's overall revenue mix.

What is the difference between SPGI's GAAP and adjusted (non-GAAP) earnings?

In Q2 2026, S&P Global reported GAAP diluted EPS of $4.12, while adjusted (non-GAAP) diluted EPS came in at $4.83, a gap of $0.71 per share. The adjusted figure excludes items that management considers non-recurring or non-operational, such as amortization of acquisition-related intangible assets, restructuring charges, and certain transaction-related costs. Because S&P Global has made large acquisitions, most recently the IHS Markit merger, amortization of intangibles is a persistent and significant exclusion. The divergence matters for interpretation. GAAP net income of $1.217 billion in Q2 2026 grew approximately 14% year over year, while adjusted EPS grew roughly 23% over the same period, reflecting how non-cash amortization charges suppress reported earnings relative to cash-generating power. Analysts frequently use adjusted figures to assess underlying operating momentum, though investors should also review GAAP results to capture the full cost of past acquisitions. Both metrics are disclosed in SPGI's earnings releases, and reconciliation tables bridge the two.

How does S&P Global compare to Moody's Corporation as an investment?

S&P Global and Moody's Corporation occupy largely parallel positions in the credit ratings duopoly, and both derive meaningful revenue from debt issuance cycles. Key structural differences lie in diversification: SPGI has pursued broader expansion into financial data, analytics, and indices through acquisitions, whereas Moody's has a more concentrated revenue mix centered on ratings and its analytics subsidiary. As of August 2026, SPGI's market capitalization stood at approximately $123.24 billion, and its trailing P/E was approximately 25x; comparable Moody's figures are not provided in the available research context, so a precise valuation multiple comparison cannot be stated here. SPGI's adjusted operating margin exceeded 50% in recent reporting, reflecting the scale benefits of its data and indices businesses layered alongside ratings. Both companies face similar regulatory and litigation risks given their roles in sovereign and corporate credit assessment. Investors evaluating the two typically weigh SPGI's broader segment diversification against Moody's relatively simpler business model. Neither constitutes a recommendation; the appropriate comparison depends on an investor's own analytical framework and risk tolerance.

What regulatory risks face S&P Global as a credit rating agency?

S&P Global's Ratings segment operates under oversight from regulators including the U.S. Securities and Exchange Commission, which oversees nationally recognized statistical rating organizations, and equivalent bodies in the European Union, the UK, and other jurisdictions. Regulatory risk takes several forms: rule changes could alter how ratings must be disclosed, how conflicts of interest are managed, or how liability for inaccurate ratings is assigned. Post-2008 financial crisis reforms already imposed new compliance requirements, and further tightening remains a legislative possibility given periodic political scrutiny of rating agencies. Litigation exposure is a related concern. S&P Global previously reached a multi-billion dollar settlement related to pre-crisis structured finance ratings, and the potential for future legal action tied to rating decisions is an ongoing consideration embedded in the business. International fragmentation also poses risk: differing regulatory regimes across major markets can increase compliance costs and, in some jurisdictions, restrict business practices. These risks are disclosed in SPGI's SEC filings and represent a structural feature of operating in a regulated, systemically important industry rather than an acute near-term catalyst.

What is the trailing P/E ratio for SPGI and how does it compare to its historical average?

SPGI's trailing price-to-earnings ratio is approximately 25x as of August 2026. This is notably lower than the multiples the stock has historically commanded during periods when expectations for data-business growth were more elevated. Analysts have noted that the current valuation represents a meaningful compression from prior peaks, partly attributable to the roughly 20.66% decline in SPGI's share price over the 52-week period ending in mid-August 2026. A trailing P/E of approximately 25x for a business with an adjusted operating margin above 50%, Q2 2026 GAAP revenue growth of 10.4% year over year, and adjusted EPS growth of roughly 23% year over year is a multiple that some market observers characterize as modest relative to SPGI's historical valuation range, though the research context notes the stock has faced pressure despite strong underlying results. Whether the current multiple represents fair value depends on assumptions about future earnings growth, interest rate dynamics, and debt issuance volumes, factors that vary across analyst models and are not settled by any single metric.

How does S&P Global's market capitalization rank within the financial data sector?

S&P Global's market capitalization was approximately $123.24 billion as of August 18, 2026, placing it among the largest companies in the financial data and analytics sector globally. Within that peer group, which includes companies such as MSCI, FactSet, Verisk Analytics, and London Stock Exchange Group, SPGI's scale is at the upper end, reflecting the breadth of its segments across ratings, market intelligence, indices, and commodity insights. The financial data sector itself is characterized by high recurring revenue, strong pricing power, and elevated margins, attributes that have historically supported premium valuations across the group. SPGI's $123.24 billion market cap reflects both its earnings base and the market's assessment of those structural qualities, even after the 52-week share price decline that brought the stock to its current level. Relative ranking within the sector can shift with share price movements and corporate actions at peers, so the positioning described here is specific to the August 2026 snapshot.

What macro factors most directly drive SPGI stock price movements?

Three macro factors exert the most direct influence on SPGI's revenue and, in turn, its stock price. First, debt issuance volumes: when interest rates decline or credit spreads tighten, corporate and sovereign borrowers issue more debt, generating higher ratings-segment fee revenue. The reverse is also true, rising rates that suppress issuance activity weigh on Ratings results. Second, equity market levels and AUM trends: higher equity prices and net inflows into passive funds increase assets benchmarked to S&P indices, lifting the asset-based fee revenue of the Indices segment. Third, broader economic activity affects demand for market intelligence and data subscriptions, as financial institutions adjust spending in response to business conditions. Interest rate policy is arguably the single most watched variable for SPGI, given that the Ratings segment remains a large contributor to total revenue. A rate-cutting cycle tends to unlock deferred issuance activity. Additionally, because SPGI reports in U.S. dollars and has significant international revenue, currency movements introduce a translation effect on reported results. Q2 2026 GAAP revenue grew 10.4% year over year to $4.146 billion, illustrating how a constructive environment for these macro drivers can support earnings momentum.

What is a SPGI CFD on CoinUnited and how is it different from buying SPGI shares?

A SPGI CFD on CoinUnited is a contract for difference that provides price exposure to S&P Global Inc. shares without the buyer acquiring any actual shares. The position tracks the movement of the underlying SPGI market price, but it confers no shareholding, no voting rights, and no entitlement to dividends. Accounts on CoinUnited are funded and withdrawn in crypto, so no traditional bank account is required to open a position. The structural differences from share ownership are significant. A CFD position can be held long or short, and it incorporates leverage: the SPGI CFD on CoinUnited carries a maximum leverage of 800x, subject to product, jurisdiction, and account eligibility, meaning a small capital outlay can control a much larger notional exposure. For example, a $1,000 position at 800x controls $800,000 of notional value; a 1% adverse move would produce an $8,000 loss, illustrating that leverage amplifies losses as well as gains and can trigger liquidation. Trading fees apply and are tiered by 30-day contract volume across nine VIP levels, reaching 0.000% only at VIP 9; the applicable rate for any account is visible on the platform and at https://coinunited.io/en/account/trading-fees. The SPGI CFD follows a scheduled trading session and is closed at weekends and on market holidays, the session calendar is shown on the platform before you trade. Weekend gap risk is therefore a real consideration for open positions held into Friday's close.

How does leverage work when trading SPGI CFDs, and what is the liquidation risk?

Leverage on a SPGI CFD allows a trader to control a position much larger than the capital deposited. On CoinUnited, the maximum leverage available for this instrument is 800x, subject to product, jurisdiction, and account eligibility. In practice, a $1,000 margin deposit at 800x would control $800,000 of notional exposure to SPGI price movements, meaning a 0.125% adverse move against the position could eliminate the entire margin balance and trigger liquidation. Liquidation occurs automatically when the account's margin falls below the maintenance threshold; the platform closes the position to prevent the balance going negative. Because SPGI is a financial-data company whose stock can move sharply around earnings releases, macro announcements, or credit-market events, the distance between an entry price and a liquidation level can be crossed quickly at high leverage ratios. Traders should review the platform's margin calculator and monitor positions actively, particularly around scheduled catalysts such as quarterly earnings or Federal Reserve policy decisions. The risk amplification is symmetric: leverage magnifies losses at the same rate it magnifies gains. Managing position size relative to available margin is therefore central to controlling liquidation exposure when trading SPGI CFDs at any leverage level.

What is weekend gap risk for SPGI CFD positions and how should traders manage it?

Weekend gap risk refers to the price discontinuity that can occur when a market reopens after a period of closure. The CoinUnited SPGI CFD follows a scheduled trading session and is closed at weekends and on market holidays, the exact session times and holiday calendar are displayed on the platform before you trade. Any news that breaks while the market is shut, a credit-rating sector development, a macro policy announcement, or a surprise regulatory action, will be reflected in the opening price, potentially creating a gap far from where the position was left. For SPGI specifically, relevant weekend developments could include sovereign credit events, changes in debt-issuance conditions, or broader financial-market stress, all of which directly affect the company's Ratings segment revenue. A position left open into Friday's close carries exposure to this gap without the ability to exit or add margin during the closed period. Practical approaches to managing weekend gap risk include reducing position size before the weekend session close, setting stop-loss orders (noting that a gap open may cause execution at a price worse than the stop level), or closing the position entirely before the market shuts. Reviewing the session calendar on the platform before each week is a straightforward first step.

How do earnings releases affect SPGI CFD positions held over a reporting date?

Earnings releases are among the highest-volatility events for any individual stock CFD, and SPGI is no exception. In Q2 2026, for example, SPGI reported GAAP revenue of $4.146 billion (+10.4% year-over-year), GAAP net income of $1.217 billion (+14%), and adjusted diluted EPS of $4.83 (+23%). Despite those results, the stock's interpretation by the market involved some debate around GAAP versus non-GAAP figures, illustrating that even strong headline numbers can produce uncertain short-term price moves. For a leveraged CFD position, that uncertainty is amplified. A position held into an earnings announcement faces the full magnitude of any gap between the pre-announcement price and the post-announcement open. If results or guidance disappoint, or if the market's reaction is contrary to expectation, a leveraged position can reach its liquidation level rapidly. SPGI reports quarterly, and the company has also updated its full-year 2026 adjusted EPS guidance to the mid-$17 range, so forward guidance commentary at each release is a distinct price catalyst alongside the reported figures. Traders holding SPGI CFD positions over a reporting date should account for potential spread widening around the event, the possibility of a gap open, and the interaction of any leverage in use with those price moves. The platform's margin requirements and the fee schedule at https://coinunited.io/en/account/trading-fees are both relevant inputs to that assessment.

Where can I find the trading fee schedule for SPGI CFDs on CoinUnited?

The complete fee schedule for SPGI CFDs is published at https://coinunited.io/en/account/trading-fees. Fees on this market are not zero at the standard tier; they are tiered across nine VIP levels based on 30-day contract volume. The rate decreases as cumulative volume rises, reaching 0.000% only at VIP 9, which requires either a 30-day volume of 20,000,000,000 USDT or a balance of 200,000,000 USDT. The live rate applicable to your account tier is also rendered directly on the trading page. Because fees are expressed as a rate applied to notional value, leverage has a direct interaction with the fee amount: a larger notional position generates a proportionally larger fee even if the margin posted is small. For active traders rotating in and out of SPGI positions around earnings or macro events, understanding the fee tier structure is relevant to calculating net returns. The schedule page shows the full tier breakdown and the volume thresholds required to move between levels. Checking it before placing a first trade and after any significant change in trading activity is straightforward practice.

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SPGIS&P Global Inc.

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Position Size (USD)Leverage

Margin Required

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P&L if SPGI moves

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S&P Global Inc.

SPGI

$473.19

+0.45% (24h)

StocksTier CTradeable on CoinUnited.io800x Leverage

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Today's SignalNext earnings2027-02-08Last earnings move0.0%2026-10-27Latest quarter revenue$3.68BQ3 2026Gross margin71.9%Q3 2026

How can you trade S&P Global Inc.? S&P Global Inc. (SPGI) is publicly listed. On CoinUnited, eligible users can trade a SPGI stock CFD — price exposure that tracks the share price. It is a price CFD, not equity (no shareholder voting; dividends reflected as an adjustment) — with leverage, from US$100. Access terms vary by jurisdiction and product eligibility.

How to trade it

Trading stock CFDs on CoinUnited + strategy

Trading Regime Status

Leverage

800x

(Max on CoinUnited.io)

Volatility

Low

(1.50% 24h)

How the SPGI CFD works

Before you trade, understand exactly what you get, what you don't, and where the risk sits.

What you buy

Price exposure to the SPGI reference (a synthetic CFD) that tracks the CoinUnited reference up and down.

What you do NOT get

It is not equity: no shares, no voting rights; dividends are reflected as an adjustment, not paid to you.

Basis / session risk

The CoinUnited reference tracks the share price but can differ from the exchange price; extended-hours liquidity is thinner.

Leverage illustration: with $100 margin at 800× leverage you open a $80,000 notional position; if price moves against you to the liquidation level the position is force-closed. High leverage magnifies both profit and liquidation risk.

Trading conditions on CoinUnited

Fee schedule as of 2026-08-19

Product type	CFD	Synthetic price exposure. You do not hold the underlying asset.
Trading fee	0.070%	Per side, at the standard tier. Falls with 30-day volume and reaches 0.000% at VIP 9.
Trading hours	Market session	Follows the market session and is closed at weekends and on market holidays.
Leverage — intraday	800x	During active trading hours. Requires 0.063% margin at the smallest position size. Availability and the maximum depend on product, jurisdiction and account eligibility; leverage amplifies losses and positions can be liquidated.
Leverage — overnight	10x	For a position held beyond the trading day. Requires 5.000% margin at the smallest position size.
Leverage — weekends & holidays	10x	For a position held through a market closure. Requires 5.000% margin at the smallest position size — check your position size before carrying it into a weekend.
Direction	Long or short	Take a position in either direction. A short position profits when the price falls and loses when it rises.
Funding	Crypto deposit	Fund and withdraw in crypto. No bank transfer or card is required.

See the full fee schedule →

Trading SPGI on CoinUnited.io: CFD Mechanics, Leverage, and Risk Management

A CoinUnited SPGI position is a contract for difference (CFD), an instrument that provides leveraged price exposure tracking the underlying equity. It confers no shareholding, no voting rights, and no entitlement to dividends. Profit and loss are determined entirely by the change in SPGI's market price relative to the entry price, scaled by the leverage multiple and notional position size.

Instrument Structure

When a trader opens an SPGI position on CoinUnited, they are not purchasing shares on the NYSE. The platform calculates P&L as:

P&L = (Exit Price − Entry Price) × Notional Size

Where notional size equals margin posted multiplied by the leverage multiple selected. The position closes when the trader exits, when a stop-loss is triggered, or when the margin buffer is exhausted and liquidation occurs. There is no share registry entry, no custodian holding, and no corporate action benefit flowing to the CFD holder.

Leverage: Specification and Mechanics

The maximum leverage on the CoinUnited SPGI CFD is 800x, subject to product eligibility, jurisdiction, and account conditions. At that multiple, small adverse price moves have large margin consequences. The relationship is direct: a 1% adverse move in SPGI's price at 800x leverage produces a loss equal to 800% of the margin posted.

A concrete illustration of the threshold risk: controlling an $800,000 notional position on $1,000 of margin at 800x means a 0.125% adverse price move, well within a single session's normal range for SPGI, places the entire margin at risk.

Worked example, exact arithmetic:

Parameter	Value
Margin posted	$500
Leverage multiple	800x
Notional exposure	$500 × 800 = $400,000
SPGI price move	+1% / −1%
P&L impact	+$4,000 / −$4,000
Return on margin	+800% / −800%
Move to full margin loss	0.125% against the position

As a live illustration of realized session volatility: on October 27, 2026, SPGI reached $474 in premarket trading following its Q3 earnings beat, opened near $470, and was subsequently reported around $448–$450 during the session — a intraday swing of several percentage points within a single trading day, according to Investing.com.

Traders using high leverage multiples should size positions with this kind of realized volatility range in mind.

Leverage amplifies losses at the same rate as gains; liquidation risk is real and can materialize rapidly within a single session. These mechanics apply regardless of the direction of the trade.

SPGI-Specific Risk Factors for CFD Holders

Earnings gap risk. S&P Global reports quarterly results on a scheduled basis. SPGI's share price has moved materially around earnings dates in recent periods. In Q3 2026, SPGI reported adjusted EPS of $4.58 and revenue of $3.68 billion, exceeding analyst expectations of $4.42 EPS and $3.64 billion in revenue, according to Investing.com.

Despite the beat, SPGI experienced sharp intraday swings — premarket highs near $474 gave way to a session price around $450.29, down approximately 4.2% from the open, according to 247 Wall St.

Updated full-year 2026 organic constant-currency revenue-growth guidance of 7.5%–8.5% (raised from the prior 6.0%–8.0% range) and an adjusted EPS guidance midpoint of $17.83 provide a reference for consensus expectations, but any miss or beat relative to those figures can reprice the stock at the open.

A position held across an earnings release, particularly over a weekend that bridges a Monday announcement, faces gap risk that a stop-loss may not fully contain, as the stock can open beyond the stop level.

Dividend adjustment. SPGI pays a regular dividend. CFD holders do not receive dividends. Positions open on ex-dividend dates may be subject to adjustment at the broker's discretion; traders should review the platform's corporate actions policy before holding through such dates.

Credit market sensitivity. Ratings revenue is structurally tied to debt issuance volumes. A sharp contraction in primary credit markets, as occurred during past liquidity crises, can reduce Ratings transaction revenue rapidly and reprice SPGI within a compressed timeframe.

This sector sensitivity is distinct from the company's subscription-based segments and is relevant to CFD holders exposed to short-duration price swings. Broader macro deterioration scenarios, including those described in global growth downgrade and stagflation risk dynamics, historically suppress bond issuance and compress this revenue line.

Strategic review risk. In October 2026, S&P Global announced a strategic review of its Capital IQ and associated data businesses, according to Investing.com. Corporate restructuring announcements of this kind can introduce incremental price uncertainty for holders of short-duration CFD positions, particularly if the review generates conflicting analyst interpretations between sessions.

Beta context. SPGI's beta against the broader market is approximately 0.87, indicating that the stock tends to move somewhat less than the overall market in percentage terms.

However, as the October 27, 2026 session demonstrated, realized short-term volatility can be significantly elevated around catalyst events, so beta alone is not a sufficient guide to session-level price behavior at leverage.

Session Timing and Weekend Gap Risk

SPGI trades on the NYSE during the regular U.S. equity session: 09:30 a.m. to 4:00 p.m. Eastern Time, Monday through Friday, according to Stock Market Hours. The CoinUnited SPGI CFD follows this session schedule. It is closed at weekends and on market holidays.

In 2026, the NYSE has 10 full-day closures and two early closes at 1:00 p.m. Eastern Time, according to Stock Market Hours and Syfe Magazine. Full-day 2026 closures include New Year's Day (Jan 1), Martin Luther King Jr.

Day (Jan 19), Presidents' Day (Feb 16), Good Friday (Apr 3), Memorial Day (May 25), Juneteenth (Jun 19), Independence Day observed (Jul 3), Labor Day (Sep 7), Thanksgiving Day (Nov 26), and Christmas Day (Dec 25).

A position held into Friday's close is exposed to all news that accumulates over the weekend — macro data releases, central bank communications, regulatory developments, or SPGI-specific corporate events such as updates to the Capital IQ strategic review — that reprices the stock at Monday's open. This gap cannot be managed with an intraday stop-loss.

Weekend gap risk is a genuine consideration for this instrument and should be factored into position sizing decisions.

The full session schedule and holiday calendar are displayed on the platform before any trade is placed.

Fees and Round-Trip Cost

CoinUnited charges a trading fee on this instrument. Fees are not zero at the standard tier. The fee structure is tiered across nine VIP levels by 30-day contract volume, with the rate declining as volume increases, reaching 0.000% only at VIP 9.

The applicable rate for a given account is displayed on the platform and in the live fee schedule at coinunited.io/en/account/trading-fees.

For leveraged, short-duration trades, the round-trip fee (entry plus exit) represents a larger fraction of the expected price movement than for longer-hold positions. Traders should calculate the break-even price move required to cover fees before entering a position, particularly at high leverage multiples where the target move may be small in absolute percentage terms.

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Key facts & how to trade

The essentials + how you access it on CoinUnited

Access & Tradability Comparison

A CoinUnited stock CFD vs holding the underlying shares — how, when, and in what form you get exposure. The stock price is everywhere; this comparison is the differentiator.

Terms	CoinUnited (CFD)	Holding shares (exchange)
Product form	Stock CFD (price exposure)	Equity ownership
Trading hours	Market session	Exchange regular hours
Leverage	Available (by product terms)	None / margin account needed
Shareholder rights	None (no voting; dividends as adjustment)	Voting + dividends
Access	Eligible users, by region + product	Brokerage account required

*Access and minimum vary by jurisdiction and product eligibility.

Key Facts

The most-cited facts about this company, each with its source — the quick-reference box for readers and AI answer engines.

Headquarters	New York City, Rockefeller CenterWikidata
Industry	financial servicesWikidata
Listing status	Publicly listed: SPGIExchange
Market cap	$136B (as of 2026-11-08)CoinUnited reference x SEC shares
P/E	~31.9CoinUnited reference / SEC annual EPS
52-week range	$381.87 – $552.12CoinUnited daily kline
Next earnings	2027-02-08Finnhub
Last earnings move	+0.0% (1d), +5.6% (5d) — 2026-10-27CoinUnited daily kline
CoinUnited product	Stock CFD — price exposure, not equity (no voting; dividends reflected as adjustment); leverage availableCoinUnited product terms

Price & Market Structure

24H Range: $466.61→$473.73

24H Low

$466.61

24H High

$473.73

BID / ASK

$472.84 / $473.54

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Company & financials

Business model + audited SEC financials

What Is S&P Global Inc. (SPGI)?

TL;DR

S&P Global Inc. is a large-cap financial data and analytics compounder with dominant franchises in credit ratings, equity indices, and market intelligence, delivering double-digit revenue and EPS growth with adjusted operating margins above 50% as of mid-2026.

S&P Global Inc. (NYSE: SPGI) is a New York-headquartered large-cap financial data, analytics, and benchmarking company whose products support critical decision-making across global credit, equity, commodity, and enterprise markets. The business is organized around four operating segments: Ratings, Market Intelligence, Indices, and Energy (Commodity Insights).

Each segment generates revenue predominantly through subscriptions, licensing fees, and transaction-based charges tied to bond issuance and index-linked asset flows, a structure that produces durable, largely recurring cash flows.

Business Segments at a Glance

The table below summarizes segment revenue for Q3 2026, as reported across S&P Global's October 2026 earnings coverage.

Segment	Q3 2026 Revenue (USD)	YoY Growth	Primary Revenue Driver
Market Intelligence	~$1.263 billion	+7%	Data subscriptions, analytics tools, workflow solutions
Ratings	~$1.271 billion	+2%	Credit rating fees, surveillance, bond issuance volumes
Energy	~$645 million	+6%	Platts price benchmarks, energy data subscriptions
Indices	~$554 million	+20%	Index licensing, ETF/fund management fee sharing

As earnings-call coverage has highlighted, "the majority of our revenue comes from the benchmarks we provide, all of Ratings, all of Indices, all of Platts within Energy, as well as the distribution of our Ratings content through Credit and Risk Solutions in MI."

This benchmark-centric model is central to understanding SPGI's competitive positioning: the company does not merely sell data, it operates the reference standards that the financial system uses to price risk and allocate capital.

The Indices division underscored this role in Q3 2026 by delivering 20% year-over-year revenue growth, with ETF assets under management linked to the business reaching $6.5 trillion.

Financial Scale and Recent Performance

On October 27, 2026, S&P Global reported third-quarter 2026 revenue of $3.678 billion, up 6.8% year over year. Net income for the quarter came in at $1.240 billion, or $4.25 per diluted share, while adjusted diluted EPS reached $4.58.

These results prompted management to raise its full-year 2026 adjusted EPS outlook to $17.70–$17.95, up from the prior range of $17.50–$17.75. The company also lifted its expected 2026 total revenue growth range to 7.4%–8.4%, compared with its previous guidance of 5.9%–7.9%.

A notable strategic development accompanied the earnings release: management announced a formal review of its Capital IQ and associated data businesses, a signal that portfolio reshaping continues following the earlier spin-off of the Mobility segment.

That divestiture refocused the portfolio on its highest-margin, data-and-network-effect businesses, and the Capital IQ review may represent a further step in that direction.

This portfolio evolution aligns with broader themes around global IPO activity and cross-asset repricing, in which accurate credit benchmarks and index infrastructure become more consequential as capital markets activity fluctuates.

Valuation and Market Classification

SPGI carries a premium valuation that reflects its recurring-revenue profile, high switching costs across its data platforms, and its role as an essential intermediary in global debt and equity markets.

The Ratings segment retains meaningful exposure to bond issuance volumes, which can be sensitive to interest rate cycles and stagflation or growth-downgrade environments.

Conversely, the Indices and Market Intelligence segments generate revenue that is relatively insulated from issuance cycles, providing a natural internal hedge within the business mix — a dynamic the Q3 2026 results illustrated clearly, with Indices growing at 20% even as Ratings expanded at a more modest 2%.

For traders assessing SPGI through a macro lens, the raised full-year guidance and the strategic review of Capital IQ are the two most consequential near-term catalysts to monitor as the company continues to refine its operating focus heading into 2027.

Last updated: 2026-10-28

Key Insights

SPGI's adjusted operating margin exceeds 50%, placing it among the highest-margin businesses in financial services, a structural advantage rooted in its pricing power over ratings mandates, index licensing, and proprietary data workflows.
The company's Q2 2026 adjusted diluted EPS grew approximately 23% year-over-year to $4.83, while GAAP diluted EPS rose roughly 18% to $4.12, reflecting both operating leverage and the portfolio simplification following the Mobility spin-off.
Despite strong operational execution, SPGI's stock had declined approximately 20.66% over the 52 weeks ending August 2026, indicating valuation compression and broader investor rotation rather than fundamental deterioration, a divergence that shapes the risk/reward framing for CFD traders.
The Mobility spin-off sharpened SPGI's identity as a pure-play information-services business; pro forma revenue growth of 11% year-over-year in Q2 2026 (excluding Mobility) confirms the core franchise is accelerating, not slowing.
SPGI's revenue base spans credit ratings, passive index licensing, commodity analytics, and enterprise data subscriptions, a multi-segment structure that provides partial insulation from single-cycle downturns while retaining meaningful sensitivity to debt issuance volumes and capital market activity.

Key Financials

Audited · SEC filings

Reported figures from the company’s latest SEC filings — each linked to its source filing and period.

$3.68B

Quarterly revenue

Q3 2026 · SEC 10-Q

$1.24B

Net income

Q3 2026 · SEC 10-Q

~71.9%

Gross margin

Q3 2026 · SEC 10-Q

$4.25

Diluted EPS

Q3 2026 · SEC 10-Q

~ Computed from two figures in the same filing — gross margin is revenue minus the reported cost of revenue, for filers who tag the cost line rather than gross profit.

Quarterly revenue

$4.8B

$3.9B

$3.0B

$3.75BQ2 2025

$3.44BQ3 2025

~$4.36BQ4 2025

$4.17BQ1 2026

$4.15BQ2 2026

$3.68BQ3 2026

~ Q4 is not filed as a standalone quarter — it is the annual 10-K figure minus the three filed quarters.

Figures are from the company’s audited SEC filings; each carries its filing source and period. Not investment advice.

Machine-readable table — same figures, per-metric source

Metric	Value	Source
Quarterly revenue (Q3 2026)	$3.68B	SEC 10-Q
Net income (Q3 2026)	$1.24B	SEC 10-Q
Gross margin (Q3 2026)	71.9%	SEC 10-Q
Diluted EPS (Q3 2026)	$4.25	SEC 10-Q

SPGI vs. Peers: Competitive Position in Financial Data and Ratings

S&P Global occupies a distinct position within financial data and analytics: it is simultaneously the largest rated credit agency, the operator of the world's most-referenced equity index family, a leading commodity price benchmark provider, and a major financial data subscription business.

As of October 2026, no single competitor replicates this combination, though two peers, Moody's Corporation (MCO) and Verisk Analytics (VRSK), offer the closest reference points for competitive analysis. A verified October 2026 peer comparison dataset for Moody's and Verisk was not available at time of writing; the figures below reflect the most recently reported data for each company.

Revenue Scale: SPGI vs. Moody's vs. Verisk

The table below compares the three companies across key financial dimensions using the most current available data as of October 2026.

Metric	SPGI	MCO	VRSK
Market Capitalization	~$123.24B	~$82.85B	~$49B
FY2025 Revenue	$15.34B	$7.72B	~$3.10B (TTM)
Q3 2026 Revenue (YoY growth)	$3.678B (+6.8%)	Not available	Not available
FY2026 Revenue Growth Guidance	7.4%–8.4%	Not available	Not available
Adjusted Operating Margin	>50% (group); Market Intelligence 36.2%	Not stated	~44%
Primary Revenue Model	Ratings, indices, data subscriptions, commodity benchmarks	Ratings, analytics subscriptions	Insurance and energy data subscriptions

Sources: S&P Global Q3 2026 earnings slides (Investing.com, October 2026); RTT News (October 2026); prior-period peer data from Investing.com, Morningstar, and Intrinsiqq.

S&P Global's Q3 2026 results demonstrated continued broad-based growth: total revenue of $3.678 billion rose 6.8% year over year, with S&P Dow Jones Indices as the standout performer at +20% year over year, while Market Intelligence grew 7% and Ratings grew 2%.

The company subsequently raised its full-year 2026 revenue-growth guidance to 7.4%–8.4% and increased adjusted EPS guidance to $17.70–$17.95.

SPGI and Moody's: The Ratings Duopoly

SPGI and Moody's share the most structurally similar business models in financial services. Both operate credit rating franchises where revenue is closely linked to global debt issuance volumes: when corporate and sovereign borrowers come to market, they must obtain ratings to access institutional investors, and both agencies collect fees for that service.

This makes the SPGI-MCO revenue correlation one of the tightest in the financial data sector, and comparing the two companies is standard practice for sector-focused traders.

In FY2025, Moody's generated $4.1 billion from Moody's Investors Service (ratings) and $3.6 billion from Moody's Analytics. SPGI's Ratings segment produced approximately $4.72 billion in FY2025, while its remaining segments — Market Intelligence, Commodity Insights, and Indices — collectively contributed roughly $9.07 billion in additional revenue.

By Q3 2026, SPGI's Ratings segment revenue of $1.271 billion grew at just 2% year over year, the slowest of SPGI's four reported segments, underscoring why revenue diversification beyond ratings is structurally valuable.

A downturn in global debt issuance, for instance, during periods of stagflation or global growth downgrades, would apply proportionally more pressure to Moody's than to SPGI, given SPGI's larger share of subscription and index-linked revenue.

SPGI's Indices segment represents a differentiation with no Moody's equivalent. Q3 2026 index revenue of $554 million, up 20% year over year, reflects AUM-linked licensing fees tied to assets benchmarked to S&P indices, including the S&P 500. This creates a royalty stream that scales with equity market growth, diversifying SPGI's sensitivity away from pure credit cycle dynamics.

Verisk Analytics: An Adjacent, Not Competing, Archetype

Verisk operates in a different part of the data and analytics landscape. The company focuses on insurance, energy, and financial services data, with strong recurring subscription revenue. In H1 2026, Verisk reported revenue of $1.589 billion, up 4.1% year over year, with a trailing-twelve-month operating margin of approximately 44%.

Verisk's margin profile is high, but it does not carry credit ratings exposure or index licensing revenue. Its growth rate is correspondingly steadier, less amplified by capital market cycles. The company's market capitalization of approximately $49 billion is roughly 40% of SPGI's, reflecting both the smaller revenue base and the narrower addressable market.

For traders positioning in the financial data sector, Verisk functions as a lower-beta, insurance-cycle exposure rather than a capital-markets proxy.

Margin Profile and Pricing Power

SPGI's adjusted operating margin exceeding 50% at the group level is a standout metric within the peer group. Market Intelligence's reported segment margin of 36.2% in Q3 2026, up 110 basis points year over year, reflects continued operating leverage even within the division most exposed to competitive data subscription markets. Two structural factors support SPGI's group-level margin leadership.

First, ratings mandates are effectively non-discretionary: issuers must obtain ratings to access public bond markets, which embeds durable pricing power in SPGI's ratings fee structure. Second, index licensing agreements charge asset managers fees proportional to AUM benchmarked to S&P indices, a model where SPGI's cost base does not scale linearly with revenue.

Verisk's 44% operating margin is strong by broad market standards but falls below SPGI's group threshold.

Strategic Developments: Capital IQ Review

A notable development from October 2026 is S&P Global's announcement of a strategic review of Capital IQ and related data businesses within Kensho Data & Platforms. The company indicated it expects to retain RatingsDirect, RatingsXpress, and Enterprise Solutions.

This potential separation, if executed, could reshape the competitive landscape for financial data subscriptions and alter how SPGI's Market Intelligence segment compares against peers going forward. Traders should monitor updates to this review as a material valuation input.

Relative Valuation Considerations

SPGI's market capitalization of approximately $123.24 billion compares to approximately $82.85 billion for Moody's, a roughly 49% premium, while Verisk at approximately $49 billion trades at a significant discount to both on an absolute basis, consistent with its smaller scale and lower capital-market sensitivity.

With SPGI raising full-year 2026 guidance following a Q3 revenue beat, the valuation gap relative to peers may be reassessed by the market in the near term.

Traders should review the 2026 Stocks Market Outlook for broader context on how sector rotation and macro conditions are affecting financial data company valuations.

Why Trade SPGI? Price Drivers, Catalysts, and Risk Factors

As of October 2026, S&P Global presents a sharper analytical picture following its Q3 2026 earnings release: the company beat analyst expectations on both revenue and adjusted EPS, raised full-year guidance across multiple metrics, and confirmed that its highest-growth segment continues to accelerate.

Understanding what drives SPGI's price from here requires a clear framework for the structural tailwinds, cyclical sensitivities, identifiable catalysts, and specific risks that distinguish it from a generic financial holding.

Primary Cyclical Driver: Debt Issuance Volume

The Ratings segment is SPGI's most cyclically exposed business. Transaction-based rating fees are directly tied to the volume of corporate, municipal, and structured-finance issuance in primary debt markets. When credit conditions are accommodative and corporate borrowers are active, Ratings revenue expands rapidly.

For full-year 2026, management now guides for Ratings organic constant-currency revenue growth of 6.5%–8%, a range that reflects continued but moderating issuance activity. The guidance was maintained even as management flagged ratings growth deceleration as a risk factor on the Q3 call — a candid acknowledgement of how quickly sentiment shifts can affect the segment's revenue mix.

The converse is equally important. When central banks tighten aggressively, borrowing costs rise, issuance pipelines shrink, and Ratings transaction revenue contracts. This makes Federal Reserve policy and broader credit-cycle positioning a first-order input for any SPGI trade.

Structural Tailwind: The Passive Investing Royalty Stream

The Indices segment operates on a fundamentally different economic model. Revenue is earned primarily as a licensing fee proportional to assets benchmarked to S&P indices, most visibly the S&P 500. As global ETF and index fund assets under management grow, SPGI collects a structurally expanding royalty stream with minimal incremental cost.

The Q3 2026 earnings call made this segment the headline story: management guided for 2026 Indices organic constant-currency revenue growth of 17%–18.5%, the highest projected growth rate across all of SPGI's divisions. This reflects continued expansion in ETF assets and the deepening institutionalisation of passive strategies globally.

This segment's growth is largely independent of short-term credit-market conditions. As long as the secular shift from active to passive management continues, the Indices segment compounds its revenue base with high operating leverage.

The divergence within SPGI's own portfolio remains instructive: Indices at 17%–18.5% projected growth versus Commodity Insights growing at a far more modest pace illustrates how different the structural backdrops are across segments.

Catalyst: Guidance Upgrade and Re-Rating Potential

Q3 2026 results delivered a meaningful positive catalyst. S&P Global reported revenue of $3.678 billion, up 6.8% year over year, against analyst expectations of $3.64 billion. Adjusted EPS of $4.58 exceeded the consensus estimate of $4.42 per share. Management followed the beat with raised full-year guidance on multiple fronts.

Organic constant-currency revenue growth guidance was lifted to 7.5%–8.5%, up from 6.0%–8.0%. Adjusted EPS guidance was raised to $17.70–$17.95, from a prior range of $17.50–$17.75. Adjusted operating-margin expansion is now expected to reach 75–100 basis points for the full year.

As management stated directly on the Q3 call: "We are raising our full year guidance for organic constant currency growth to a range of 7.5% to 8.5%," and separately: "We're raising our guidance for adjusted EPS as well to a range of $17.70 to $17.95."

SPGI also recently completed the spin-off of its Mobility segment, sharpening the portfolio around Ratings, Market Intelligence, Indices, and Commodity Insights. The post-spin structure improves earnings comparability and increases the proportion of revenue investors can clearly classify as recurring and subscription-based.

Historically, information-services businesses trade at higher multiples when revenue visibility improves. The degree to which the market re-rates SPGI depends heavily on whether investors treat the current multiple as a temporary dislocation or a permanent reassessment of the franchise's growth ceiling.

Portfolio Uncertainty: Capital IQ Strategic Review

A new and significant development from the Q3 earnings call warrants explicit attention. Management disclosed a review of Capital IQ and related data businesses, which sits within the Market Intelligence segment. The strategic review raises questions about SPGI's future business mix and could affect how investors model recurring subscription revenue.

Portfolio simplification can unlock value — but the process itself creates a period of uncertainty over segment composition, deal timing, and any associated costs or disruptions. Traders should monitor further announcements on this front as a near-term price catalyst in either direction.

Key Risk Factors

Several risks warrant explicit monitoring.

Cyclical issuance risk remains the most direct. A reversal in debt market activity — triggered by policy tightening, credit stress, or a risk-off episode — would compress Ratings transaction revenue with limited ability to offset it in the near term through subscription businesses. Management flagged ratings growth deceleration explicitly on the Q3 2026 call.

Financing costs represent a newly elevated risk. Management indicated that a planned $2 billion bond offering could increase interest expense, creating a headwind to net income that partially offsets operating outperformance.

Notably, 2026 GAAP EPS guidance was actually reduced to $16.25–$16.50 (from $16.35–$16.60) due to expected disposition gains distorting the GAAP figure — a reminder that adjusted and GAAP metrics can diverge meaningfully.

Regulatory scrutiny is a persistent structural risk. Post-2008 frameworks governing credit rating agencies continue to evolve across jurisdictions, and any new requirements around methodology disclosure, liability, or competitive access could affect the Ratings segment's operating model and profitability.

Competitive pressure exists across all segments. Moody's competes directly in ratings and analytics; Bloomberg and FactSet compete in financial data and terminal services within Market Intelligence. While SPGI's index franchise benefits from deep network effects, none of its segments operate without meaningful rivalry.

Macro headwinds — including commodity and energy-market volatility, tariff-driven stagflation risk, and carry-trade unwinds — can suppress capital market activity globally, reducing both issuance volumes and the appetite for risk assets that drive ETF inflows into index-linked products.

Traders monitoring these dynamics can find relevant analysis at the platform's global growth and stagflation research hub and global tariff and currency policy shock coverage.

Risk Factor	Segment Most Exposed	Indicator to Monitor
Debt issuance slowdown	Ratings	Investment-grade and high-yield primary market volumes
Ratings growth deceleration	Ratings	Transaction fee mix, management commentary
Rate policy tightening	Ratings, Indices (indirectly)	Fed funds rate trajectory, credit spreads
Capital IQ strategic review	Market Intelligence	Management announcements, deal structure
Financing cost increases	All segments	Planned $2B bond offering, interest expense trends
Regulatory changes	Ratings	SEC, ESMA rulemaking on credit rating agencies
ETF/passive AUM contraction	Indices	Global ETF net flows, equity market performance
Competitive displacement	Market Intelligence	Bloomberg terminal subscriber trends, FactSet ARR growth
Carry-trade unwind	All segments	JPY cross rates, global risk appetite indicators

For traders taking price exposure to SPGI via a CFD position on CoinUnited, each of these factors translates into a specific set of events — earnings releases, Fed decisions, regulatory announcements, Capital IQ deal news, and global credit-market data — that can move the share price materially in either direction.

Trading sessions follow scheduled market hours and are closed at weekends and on market holidays, so weekend gap risk is a genuine consideration when holding positions into a Friday close. CoinUnited's tiered fee structure applies to this instrument; the live rate and full schedule are available at the trading fees page.

CFD trading on SPGI is available with leverage up to 800x, subject to product, jurisdiction, and account eligibility — and positions sized at high leverage carry meaningful liquidation risk if the trade moves against you.

Valuation & peers

Multiples vs peers + third-party analyst targets

Peer Valuation Comparison

How this stock trades versus comparable listed companies on trailing valuation multiples.

Company	Market cap	P/E	P/S
S&P Global Inc. · SPGI	$135.3B	27.7x	8.5x
London Stock Exchange Group plc · LSEGY	$257.8B	33.7x	4.7x
CME Group Inc. · CME	$108.5B	24.7x	15.6x
Intercontinental Exchange, Inc. · ICE	$94.4B	22.9x	7.2x
Moody's Corporation · MCO	$85.2B	30.0x	10.4x
Deutsche Börse AG · DBOEY	$63.7B	26.4x	7.1x

Third-party ratios (FMP), trailing twelve months. Multiples vary by data window; a negative or absent P/E means the company is loss-making. Not investment advice.

Analyst Price Targets

Buy

Wall Street sell-side analysts’ consensus 12-month price target and rating for this stock.

Consensus target

$512.14+9.4%

Target range

$490.00 – $531.00

Price-target coverage

5 analysts

Analyst ratings (28)

Buy 24Hold 4Sell 0

Targets by firm

Latest target from each of the 7 firms whose call was reported in the past 180 days. Each row links to the report.

Firm	Target	vs current
Morgan Stanley2026-10-28 · StreetInsider	$515.00	+10.0%
Jefferies2026-10-16 · StreetInsider	$490.00	+4.7%
Mizuho Securities2026-10-05 · StreetInsider	$531.00	+13.4%
Robert W. Baird2026-09-02 · StreetInsider	$513.00	+9.6%
Stifel Nicolaus2026-07-17 · StreetInsider	$521.00	+11.3%
RBC Capital2026-07-07 · StreetInsider	$510.00	+8.9%
BMO Capital2026-07-07 · StreetInsider	$505.00	+7.9%

Source: aggregated sell-side analyst consensus · as of 2026-11-08. These are third-party analyst opinions — not CoinUnited’s view, not a price prediction, and not investment advice.

Scenario calculator

Pick a third-party reference level and see what it implies at leverage. Reference levels only - not a CoinUnited forecast.

Scenario price

$473.19

+0.0% vs current

Your margin (USD)Leverage

Position size $100,000.00

P&L at this scenario (long)

+$0.00

Loss if liquidated -$1,000.00 (the full margin)

Liquidation price (long): $468.46 — a move of -1.0%

Trade SPGI Now

Simplified: excludes fees, funding and slippage. Reference levels are third-party marks (CoinUnited daily kline; aggregated sell-side analyst targets), not forecasts. Leverage magnifies losses as much as gains - at high leverage a small adverse move liquidates the position. Not investment advice.

Catalysts & news

Dated third-party developments · newest first

Catalyst Timeline

Dated third-party developments that move the stock — newest first, each classified bullish or bearish and linked to its source.

2026-10-28
Next quarterly earnings◆ Scheduled
Next scheduled quarterly earnings report (2026-10-28). Revenue, margins and guidance are the near-term driver; the outcome is not known in advance.
Finnhub
2026-07-28
S&P Global Q2 profit strengthens▲ Bullish
July 28 (Reuters) - S&P Global (SPGI.N), opens new tab reported a stronger second-quarter profit on Tuesday, as clients sought its ratings, indices, market intelligence and analytics products amid heightened geopolitical uncertainty.
Reuters
2026-07-28
S&P Global misses quarterly estimates▼ Bearish
S&P Global Inc. posted quarterly results that fell short of analysts’ average estimate, hurt by factors including the US-Iran War making it harder to boost pricing on contracts for its energy data, news and analysis unit.
Bloomberg
2026-04-28
S&P Global Q1 profit increases▲ Bullish
April 28 (Reuters) - Financial data provider S&P Global (SPGI.N), opens new tab, announced an increase in its profit for the first quarter on Tuesday, driven by heightened demand for its data and analytics services amidst geopolitical…
Reuters
2026-02-10
S&P Global 2026 forecast below consensus▼ Bearish
Feb 10 (Reuters) - S&P Global (SPGI.N), opens new tab forecast 2026 profit below Wall Street expectations on Tuesday, with growing investor unease over AI-driven disruption sweeping through the software and services sector, pushing its…
Reuters
2026-02-10
S&P Global stock drops 11%▼ Bearish
S&P Global Inc., a company that rates bonds and sells market data, slumped as much as 11% after the company reported a 2026 profit forecast that fell short of analyst expectations.
Bloomberg
2025-10-15
S&P Global to acquire With Intelligence▲ Bullish
On October15 () -&P GlobalSPGI.N), opens new tab has announced its intention to acquire With Intelligence, a provider of private market data, as part of its strategy to broaden its offerings in the rapidly expanding financial services…
Reuters
2025-07-31
S&P Global raises profit forecast▲ Bullish
July 31 (Reuters) - Financial information company S&P Global (SPGI.N), opens new tab raised its annual profit forecast on Thursday and beat Wall Street estimates for second-quarter earnings on strong demand for its data and analytics…
Reuters

Machine-readable table — same developments, with source

Recent third-party developments classified bullish / bearish for the stock; verbatim, sourced.

Date	Development	Direction	Source
2026-10-28	Next scheduled quarterly earnings report (2026-10-28). Revenue, margins and guidance are the near-term driver; the outcome is not known in advance.	◆ Scheduled	Finnhub
2026-07-28	July 28 (Reuters) - S&P Global (SPGI.N), opens new tab reported a stronger second-quarter profit on Tuesday, as clients sought its ratings, indices, market intelligence and analytics products amid heightened geopolitical uncertainty.	▲ Bullish	Reuters
2026-07-28	S&P Global Inc. posted quarterly results that fell short of analysts’ average estimate, hurt by factors including the US-Iran War making it harder to boost pricing on contracts for its energy data, news and analysis unit.	▼ Bearish	Bloomberg
2026-04-28	April 28 (Reuters) - Financial data provider S&P Global (SPGI.N), opens new tab, announced an increase in its profit for the first quarter on Tuesday, driven by heightened demand for its data and analytics services amidst geopolitical…	▲ Bullish	Reuters
2026-02-10	Feb 10 (Reuters) - S&P Global (SPGI.N), opens new tab forecast 2026 profit below Wall Street expectations on Tuesday, with growing investor unease over AI-driven disruption sweeping through the software and services sector, pushing its…	▼ Bearish	Reuters
2026-02-10	S&P Global Inc., a company that rates bonds and sells market data, slumped as much as 11% after the company reported a 2026 profit forecast that fell short of analyst expectations.	▼ Bearish	Bloomberg
2025-10-15	On October15 () -&P GlobalSPGI.N), opens new tab has announced its intention to acquire With Intelligence, a provider of private market data, as part of its strategy to broaden its offerings in the rapidly expanding financial services…	▲ Bullish	Reuters
2025-07-31	July 31 (Reuters) - Financial information company S&P Global (SPGI.N), opens new tab raised its annual profit forecast on Thursday and beat Wall Street estimates for second-quarter earnings on strong demand for its data and analytics…	▲ Bullish	Reuters

Key Takeaways

Last updated: 2026-04-28

•SPGI Q1 revenue of $4.17B beat the $4.07B FactSet estimate; EPS of $4.97 beat consensus $4.83 by $0.14.
•FY26 guidance of $16.3B–$16.6B revenue and $19.40–$19.65 EPS closely aligns with analyst consensus, reducing earnings uncertainty.
•Strong ratings growth (29.7% of revenue) is a leading indicator of healthy corporate debt issuance and credit market activity.
•SPGI trades at $437.11 vs. an average analyst target of $535.71 — a ~22.5% implied upside per MarketBeat data.
•Muted same-day price action suggests partial pre-pricing; watch volume and institutional flow for confirmation of a sustained re-rating.

Latest Pulses

2026-04-28StocksBullish

SPGI

S&P Global Beats Q1 Estimates, Narrows FY26 Guidance — Financial Data Giant Signals Resilience

S&P Global (NYSE: SPGI) reported Q1 2026 earnings on April 28, 2026, delivering a clear beat on both top and bottom lines. According to MarketScreener, revenue came in at $4.17B against a FactSet cons

View all SPGI pulses

Ownership

Top institutional holders (SEC Form 13F)

Top Institutional Holders

SEC 13F

The largest institutional shareholders, from SEC Form 13F filings — who holds the stock and how much.

Institution	Shares	Value	% of shares
BlackRock, Inc.	24.1M	$10.2B	8.30%
Vanguard Capital Management LLC	19.4M	$8.2B	6.69%
State Street Corp.	14.2M	$6.0B	4.89%
Tci Fund Management Ltd.	14.0M	$6.0B	4.84%
Morgan Stanley	7.9M	$3.4B	2.73%
Geode Capital Management, LLC	6.9M	$2.9B	2.39%
Vanguard Portfolio Management LLC	6.8M	$2.9B	2.33%
Wellington Management Group LLP	6.1M	$2.6B	2.09%
Bank of America Corp.	4.4M	$1.9B	1.53%
Capital International Investors	3.5M	$1.5B	1.21%

Source: SEC Form 13F filings · 2089 institutional holders · as of 31-MAR-2026. 13F data is quarterly and lagged (filed ~45 days after quarter-end) and covers US institutional managers (>$100M AUM) only — not insiders, retail, or foreign holders. Not investment advice.

Understand the risks

Read before trading

Trading Risks

An honest, up-front list of the risks — both out of respect for the trader and as a YMYL compliance requirement.

Leverage / Liquidation

High leverage means a small adverse move can trigger forced liquidation and loss of your full margin.

High-valuation volatility

A high P/E stock is very sensitive to interest-rate and narrative shifts; swings can be large.

Session gaps

After-hours and weekend gaps; extended-hours liquidity is thinner than the regular session.

Basis risk

The CFD reference price can diverge from the exchange execution price.

Earnings volatility

Price swings widen around earnings dates and other scheduled disclosures.

Regulatory / event

Recalls, policy changes, or company-specific events can cause sharp moves.

Reference

FAQ & glossary

Frequently Asked Questions

S&P Global Inc. is a financial data, analytics, and ratings company that earns revenue by providing intelligence, benchmarks, and credit assessments to capital markets participants worldwide. Its core business model is subscription- and transaction-based: clients pay recurring fees for data and analytics access, while issuers and investors pay fees tied to debt ratings and index licensing. The company's revenue streams are broadly diversified. Ratings revenue fluctuates with debt issuance volumes, since fees are charged when corporations and governments bring new bonds to market. Market Intelligence, Indices, and Commodity Insights segments generate steadier subscription income, which provides a more predictable baseline. This mix of transaction-sensitive and recurring revenue gives SPGI a relatively resilient financial profile across credit cycles. Following the spin-off of its Mobility segment, S&P Global's remaining operations are more concentrated in high-margin financial data and ratings. Q2 2026 GAAP revenue reached $4.146 billion, up approximately 10.4% year-over-year, reflecting the company's ability to grow across multiple product lines simultaneously.

Glossary

Key listed-stock and CFD terms, one line each — so the page is unambiguous for both readers and AI answer engines.

Stock CFD	A contract for difference on a share price — price exposure only, not ownership of the underlying shares.
Extended hours	Pre-market and after-hours trading outside the exchange’s regular session.
Basis risk	The risk that the CFD reference price and the exchange execution price do not move in step.
P/E	Price-to-earnings ratio = share price ÷ earnings per share; a common valuation gauge.
Gross margin	Gross profit ÷ revenue; reflects product-level profitability.
EPS	Earnings per share = net income ÷ diluted shares outstanding.

symbol

SPGI

Markets

Stocks

Sector

Finance

CU Product Code

SPGI

Sources & References

U.S. Securities and Exchange Commission (SEC)

Source Map

Every figure on this page traces to a primary or named third-party source. "As of" dates the source; "last checked" dates our most recent read of it.

Every figure here is also published as machine-readable data, and re-checked on a schedule so a stale one shows up as stale. View the raw data

Field	Value	Source	As of	Last checked
Reference price	live	CoinUnited stock CFD reference (live)	—	—	—
Market cap	$136B	CoinUnited reference x SEC shares	2026-11-08	2026-11-08	—
P/E	~31.9	CoinUnited reference / SEC annual EPS	—	2026-11-08	—
52-week range	$381.87 – $552.12	CoinUnited daily kline	—	2026-11-08	—
Next earnings	2027-02-08	Finnhub	—	2026-11-08	—
Quarterly revenue	$3.68B	SEC 10-Q	Q3 2026	2026-11-08	View
Net income	$1.24B	SEC 10-Q	Q3 2026	2026-11-08	View
Gross margin	71.9%	SEC 10-Q	Q3 2026	2026-11-08	View
Diluted EPS	$4.25	SEC 10-Q	Q3 2026	2026-11-08	View
Institutional ownership	10 top holders	SEC Form 13F	31-MAR-2026	2026-11-08	View
Analyst price targets	$512.14 consensus	Aggregated sell-side analyst consensus	2026-11-08	2026-11-08	—
Peer valuations	6 peers	Third-party ratios (FMP), trailing twelve months	2026-11-01	2026-11-01	—
Headquarters	New York City, Rockefeller Center	Wikidata	—	2026-11-08	—
Industry	financial services	Wikidata	—	2026-11-08	—
CoinUnited product	Stock CFD — price exposure, not equity (no voting; dividends reflected as adjustment); leverage available	CoinUnited product terms	—	2026-11-08	—
U.S. Securities and Exchange Commission (SEC)	—	U.S. Securities and Exchange Commission (SEC)	—	—	View

About the Author

CoinUnited.io Research Team

This page is compiled by CoinUnited.io's research team: analysts covering listed equities and global markets, working from primary filings and named third-party data rather than opinion.

Our Research Methodology

Every figure is traced to a primary or named third-party source and dated: financial statements from the company's SEC filings, institutional ownership from Form 13F, analyst targets from aggregated third-party coverage, and market data from the CoinUnited reference price. The Source Map on this page lists each one with its source and the date we last checked it.

Disclaimer: content is for informational and educational purposes only and is not personalized financial advice. A stock CFD carries significant risk and provides price exposure only, not equity ownership. Always conduct your own research and consult a qualified financial advisor.

Disclaimers & References

Important Risk Disclaimer

A CoinUnited stock CFD gives price exposure to S&P Global Inc. only, not equity ownership: no shareholder voting rights, no dividends, and no settlement in the underlying share.

Leverage magnifies losses as well as gains, and a position can be liquidated long before the underlying share price recovers. The underlying listing trades on exchange hours, so the reference price can gap between sessions.

Users should conduct their own research and consult with qualified financial professionals before making any investment decisions. The creators and operators of this platform assume no responsibility for any financial losses or other damages that may result from reliance on the information provided.

Leveraged trading is extremely risky and you may lose your entire deposit.

Methodology Overview

Figures on this page are compiled from primary and named third-party sources, not produced by a forecasting model. Each one carries its source and date in the Source Map above.

Financial statements: the company's own SEC filings (10-K / 10-Q), read from XBRL
Market data: the CoinUnited reference price and daily closes
Institutional ownership: SEC Form 13F quarterly filings
Analyst targets: aggregated third-party sell-side coverage — third-party opinion, not CoinUnited's view
Peer multiples: third-party trailing-twelve-month ratios

CoinUnited does not publish a price forecast or target for S&P Global Inc..

Last methodology review:

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SPGI

S&P Global Inc.

$473.19

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S&P Global Inc.

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SPGI vs. Peers: Competitive Position in Financial Data and Ratings

Revenue Scale: SPGI vs. Moody's vs. Verisk

SPGI and Moody's: The Ratings Duopoly

Verisk Analytics: An Adjacent, Not Competing, Archetype

Margin Profile and Pricing Power

Strategic Developments: Capital IQ Review

Relative Valuation Considerations

Why Trade SPGI? Price Drivers, Catalysts, and Risk Factors

Primary Cyclical Driver: Debt Issuance Volume

Structural Tailwind: The Passive Investing Royalty Stream

Catalyst: Guidance Upgrade and Re-Rating Potential

Portfolio Uncertainty: Capital IQ Strategic Review

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Valuation & peers

Peer Valuation Comparison

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Catalyst Timeline

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S&P Global Beats Q1 Estimates, Narrows FY26 Guidance — Financial Data Giant Signals Resilience

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Reference

Frequently Asked Questions

1. What does S&P Global Inc. actually do, and how does it make money?

2. What are the main business segments of S&P Global (SPGI) in 2026?

3. Why has SPGI stock declined over the past 52 weeks despite strong earnings growth?

4. What was S&P Global's revenue and EPS in Q2 2026?

5. What is SPGI's full-year 2026 adjusted EPS guidance?

6. How does the Mobility spin-off affect S&P Global's financials and valuation?

7. What is SPGI's adjusted operating margin and how does it compare to peers?

8. How does debt issuance volume affect S&P Global's Ratings segment revenue?

9. How does the passive investing trend benefit SPGI's Indices segment?

10. What is the difference between SPGI's GAAP and adjusted (non-GAAP) earnings?

11. How does S&P Global compare to Moody's Corporation as an investment?

12. What regulatory risks face S&P Global as a credit rating agency?

13. What is the trailing P/E ratio for SPGI and how does it compare to its historical average?

14. How does S&P Global's market capitalization rank within the financial data sector?

15. What macro factors most directly drive SPGI stock price movements?

16. What is a SPGI CFD on CoinUnited and how is it different from buying SPGI shares?

17. How does leverage work when trading SPGI CFDs, and what is the liquidation risk?

18. What is weekend gap risk for SPGI CFD positions and how should traders manage it?

19. How do earnings releases affect SPGI CFD positions held over a reporting date?

20. Where can I find the trading fee schedule for SPGI CFDs on CoinUnited?

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