Morningstar

S&P Global Inc SPGI

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Stock XNYS Rating as of
$514.71 +2.49 (0.49%)
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As of Delayed Price Closed

Company Report

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S&P Global Has an Array of High-Margin, Moaty Businesses

Rajiv Bhatia

Whether through credit ratings, financial indexes, or commodity price reporting, S&P Global has established a wide moat from its data-driven benchmarks. Given the embedded nature of these benchmarks, S&P enjoys a strong competitive position and strong operating margins. In February 2022, S&P completed its $44 billion acquisition of IHS Markit. We believe IHS Markit's recurring revenue model will further diversify S&P's revenue, limiting upside and downside scenarios for the firm.

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Price vs Fair Value

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SPGI is trading at a 847% premium.
Price
$514.71
Fair Value
$637.00
Uncertainty
Medium
1-Star Price
$494.60
5-Star Price
$669.00
Economic Moat
Qwkt
Capital Allocation
Snkfbllhr

Bulls Say, Bears Say

Bulls

Once a benchmark is accepted by capital or commodity market participants, it is difficult to displace. As a result, S&P has strong pricing power in its ratings, index subscriptions, and Platts business.

Bears

A slowing global economy and rising interest rates will eventually pressure bond issuance, adversely affecting the largest profit driver, the ratings business.

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News

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Trading Information

Previous Close Price
$512.22
Day Range
$511.05–516.65
52-Week Range
$340.49–528.02
Bid/Ask
$510.00 / $519.00
Market Cap
$161.10 Bil
Volume/Avg
962,333 / 1.1 Mil

Key Statistics

Price/Earnings (Normalized)
35.93
Price/Sales
12.22
Dividend Yield (Trailing)
0.71%
Dividend Yield (Forward)
0.71%
Total Yield
2.13%

Company Profile

S&P Global provides data and benchmarks to capital and commodity market participants. Its ratings business is the largest credit rating agency in the world and S&P's largest segment by profitability. S&P's largest segment by revenue is market intelligence, which provides desktop, data and advisory solutions, enterprise solutions, and credit/risk solutions mostly in the financial-services industry. S&P’s other segments include commodity insights (Platts and other data), mobility (Carfax), and indexes.
Sector
Financial Services
Industry
Financial Data & Stock Exchanges
Stock Style Box
Large Core
Total Number of Employees
40,450
Website
https://www.spglobal.com

Competitors

Valuation

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Metric
SPGI
FDS
MCO
Price/Earnings (Normalized)
 35.9329.0341.72
Price/Book Value
 4.659.0922.66
Price/Sales
 12.228.0113.17
Price/Cash Flow
 31.7424.9034.58
Price/Earnings
SPGI
FDS
MCO

Financial Strength

Metric
SPGI
FDS
MCO
Quick Ratio
 0.861.131.39
Current Ratio
 1.031.281.52
Interest Coverage
 15.1910.367.88
Quick Ratio
SPGI
FDS
MCO

Profitability

Metric
SPGI
FDS
MCO
Return on Assets (Normalized)
 7.48%15.25%14.06%
Return on Equity (Normalized)
 13.01%35.03%60.77%
Return on Invested Capital (Normalized)
 9.44%18.51%20.67%
Return on Assets
SPGI
FDS
MCO

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