SPGI S&P Global margins

Relative Growth: Rel. Growth: 76

Relative Strength: Rel. Strength: 61

Relative Valuation: Rel. Valuation: 39

Relative Profitability: Rel. Profitability: 94

Gross margin

71.1%

Operating margin

45.1%

EBITDA margin

50.1%

Net margin

31.3%

For the latest period, S&P Global has a gross margin of 71.1%, an operating margin of 45.1%, an EBITDA margin of 50.1%, and a net margin of 31.3%. Each available margin advanced from the same period last year. Operating margin recorded the strongest gain, gaining by 4.6 percentage points.

SPGI margin history

Gross, operating, EBITDA and net margin trends

S&P Global's margins averaged 69.41% gross, 38.99% operating, 45.45% EBITDA, and 27.31% 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 operating margin with an increase of 4.6 percentage points.

Gross margin expansion

1.1pp

Operating margin expansion

4.6pp

EBITDA margin expansion

3.9pp

Net margin expansion

2.3pp

SPGI Gross margin

Across the last 3 years, S&P Global's gross margin came to 69.41%. The current gross margin stands at 71.1%, 1.7 percentage points above its three-year average. Gross margin was highest at 71.1% in Sep 2026 and lowest at 66.9% in Dec 2023.

SPGI Operating margin

Over the last 3 years, S&P Global's operating margin averaged 38.99%. Currently, S&P Global's current operating margin is 45.1%, which is 6.1 percentage points above its three-year average. During this period, operating margin reached a high of 45.1% in Sep 2026 and a low of 32.4% in Dec 2023.

SPGI EBITDA margin

The average EBITDA margin for S&P Global was 45.45% in the last 3 years. Currently, the current EBITDA margin for S&P Global is 50.1%, 4.7 percentage points above its three-year average. The EBITDA margin for S&P Global moved between 39.1% in Dec 2023 and 50.1% in Sep 2026.

SPGI Net margin

S&P Global recorded an average net margin of 27.31% across the last 3 years. S&P Global currently reports a net margin of 31.3%, 4 percentage points above its three-year average. Over the last 3 years, S&P Global's net margin peaked at 31.4% in Jun 2026 and reached a low of 21% in Dec 2023.

SPGI margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 71.1%, SPGI stands lower than the Financial Services sector and the industry average. Looking at the Financial Services sector average of 83.4%, 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 Sep 30, 2026, SPGI recorded a gross margin of 71.1%.

What is S&P Global's operating margin?

The current operating margin for SPGI is 45.1% as of Sep 30, 2026.

What is S&P Global's EBITDA margin?

As of Sep 30, 2026, SPGI has an EBITDA margin of 50.1%.

What is S&P Global's net margin?

The current net margin for SPGI is 31.3% as of Sep 30, 2026.

What are the average margins of SPGI?

Looking back over 3 years, SPGI recorded average margins of 69.4% gross, 39.0% operating, 45.5% EBITDA, and 27.3% 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.