SPGI S&P Global margins

Relative Growth: Rel. Growth: 80

Relative Strength: Rel. Strength: 33

Relative Valuation: Rel. Valuation: 45

Relative Profitability: Rel. Profitability: 94

Gross margin

70.9%

Operating margin

42.7%

EBITDA margin

49.6%

Net margin

30.5%

For the latest period, S&P Global has a gross margin of 70.9%, an operating margin of 42.7%, an EBITDA margin of 49.6%, and a net margin of 30.5%. Each available margin advanced from the same period last year. EBITDA margin recorded the strongest gain, gaining by 3.6 percentage points.

SPGI margin history

Gross, operating, EBITDA and net margin trends

S&P Global's margins averaged 69.03% gross, 36.47% operating, 44.54% EBITDA, and 26.16% net during the last 3 years. Currently all four current margins are above their three-year averages.

SPGI margin expansion

Year-over-year margin changes in percentage points

All available margins expanded year over year, led by EBITDA margin with an increase of 3.6 percentage points.

Gross margin expansion

1.1pp

Operating margin expansion

3.5pp

EBITDA margin expansion

3.6pp

Net margin expansion

3.2pp

SPGI Gross margin

Across the last 3 years, S&P Global's gross margin came to 69.03%. The current gross margin stands at 70.9%, 1.9 percentage points above its three-year average. Gross margin was highest at 70.9% in Jun 2026 and lowest at 66.5% in Sep 2023.

SPGI Operating margin

Over the last 3 years, S&P Global's operating margin averaged 36.47%. Currently, S&P Global's current operating margin is 42.7%, which is 6.2 percentage points above its three-year average. During this period, operating margin reached a high of 42.7% in Jun 2026 and a low of 16.1% in Sep 2023.

SPGI EBITDA margin

The average EBITDA margin for S&P Global was 44.54% in the last 3 years. Currently, the current EBITDA margin for S&P Global is 49.6%, 5.1 percentage points above its three-year average. The EBITDA margin for S&P Global moved between 38.3% in Sep 2023 and 49.6% in Jun 2026.

SPGI Net margin

S&P Global recorded an average net margin of 26.16% across the last 3 years. S&P Global currently reports a net margin of 30.5%, 4.3 percentage points above its three-year average. Over the last 3 years, S&P Global's net margin peaked at 30.5% in Jun 2026 and reached a low of 20.2% in Sep 2023.

SPGI margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 70.9%, SPGI stands lower than the Financial Services sector and the industry average. Looking at the Financial Services sector average of 83.9%, S&P Global's gross margin is 15% lower.

SPGI margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is S&P Global's gross margin?

For the period ending Jun 30, 2026, SPGI recorded a gross margin of 70.9%.

What is S&P Global's operating margin?

The current operating margin for SPGI is 42.7% as of Jun 30, 2026.

What is S&P Global's EBITDA margin?

As of Jun 30, 2026, SPGI has an EBITDA margin of 49.6%.

What is S&P Global's net margin?

The current net margin for SPGI is 30.5% as of Jun 30, 2026.

What are the average margins of SPGI?

Looking back over 3 years, SPGI recorded average margins of 69.0% gross, 36.5% operating, 44.5% EBITDA, and 26.2% net.

What are the highest historical margins of SPGI?

Over the last 5 years, S&P Global's highest margins were 73.7% gross in Dec 2021, 58% operating in Mar 2022, 59.4% EBITDA in Jun 2022, and 40.4% net in Mar 2022.

What are the lowest historical margins of SPGI?

Over the last 5 years, S&P Global's lowest margins were 65.8% gross in Mar 2023, 14.6% operating in Jun 2023, 37.6% EBITDA in Jun 2023, and 19.5% net in Jun 2023.