S&P Global Inc. (SPGI)

S&P Global Inc. is a global provider of benchmarks, data, analytics and workflow solutions for the capital, energy and commodity, and automotive markets. It was incorporated in New York in December 1925 and serves customers through both third-party and proprietary distribution channels. On April 29, 2025, its Board announced a plan to fully separate the Mobility segment into a new publicly traded company through a spin-off to S&P Global shareholders, expected to be tax-free for U.S. federal income tax purposes and completed in mid-2026, subject to customary legal and regulatory requirements and approvals. The Company sold its Engineering Solutions business on May 2, 2023.

The company operates five businesses. Market Intelligence provides multi-asset-class data and analytics with workflow solutions through three lines: Data, Analytics & Insights (including the Capital IQ platforms), Enterprise Solutions (software such as Wall Street Office, Enterprise Data Manager, Information Mosaic and iLevel, plus bookbuilding platforms), and Credit & Risk Solutions. Ratings is an independent provider of credit ratings, research and analytics, earning transaction revenue from new issuance and bank loan ratings, and non-transaction revenue from surveillance, annual relationship fees, entity ratings and Crisil research. Energy provides information and benchmark prices through Energy & Resources Data & Insights, Price Assessments, Upstream Data & Insights, and Advisory & Transactional Services. Mobility serves the automotive value chain through Dealer, Manufacturing and Financial lines. Indices maintains valuation and index benchmarks and earns asset-linked fees from ETFs and mutual funds, royalties from exchange-traded derivatives, licensing fees, and data and customized index subscriptions.

Customers include asset managers, investment banks, commercial banks, insurance companies, exchanges, trading firms, issuers, private equity firms, corporations, governments, regulators and universities. In energy and commodities, they include producers, consumers, traders and intermediaries across energy, chemicals, shipping, metals, carbon and agriculture. In automotive, they include OEMs, suppliers, dealerships, service shops, mobility service providers, and finance and insurance companies. Mobility's products serve all global OEMs, most leading suppliers, and the majority of top North American dealerships. Ratings has offices in over 25 countries and has operated for over 150 years. Revenue is largely subscription-based, supplemented by usage-based royalties, asset-linked fees and transactional sales.

S&P Global's headquarters are at 55 Water Street, New York. As of December 31, 2025, it had approximately 44,500 permanent employees, including about 26,200 in Asia, 11,050 in the U.S. and Canada, 6,200 in Europe, the Middle East and Africa, and 1,050 in Latin America. Competitive conditions and regulatory environment are discussed in the segment review of its annual report.