Analyst Consensus ?
ConsensusBuy28 ratings
Bullish2485.7%
Neutral414.3%
Bearish00.0%
S&P Global Inc. · SPGI · FY2025 Q1 · Calendar Q2 2025
S&P Global: Growth Holds, but Guidance and Portfolio Execution Matter
The supplied analysis supports a balanced view: recurring subscription revenue, product innovation and portfolio optimization provide support, but lower guidance, reduced free-cash-flow guidance and execution risks make the growth case dependent on delivery.
Reported Before market openNYSEFinancial Services
$116.50B market cap
70quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $4.21
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $3.71B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+2.6%
Event window
SPY move
+0.6%
Same window
Abnormal move
+2.0%
Stock minus SPY
Volume
1.3×
Versus trailing sessions
Subsequent drift
+4.0%
Up to 20 sessions
SPGISPY benchmark
Ask FN2 about SPGI FY2025 Q1
Transcript, numbers and history already loaded
What drove SPGI's +2.6% move after FY2025 Q1 earnings?What changed in SPGI's guidance and outlook in FY2025 Q1?Give me the bull and bear case for SPGI after FY2025 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management announced a tax-free Mobility spin-off and the sale of the Ostra joint venture to KKR, while integrating Visible Alpha into Capital IQ ahead of schedule. The analysis also describes lower guidance and continued shareholder returns.
Guidance delta
Management guidance was lowered; the supplied analysis cites a 4–6% revenue-growth target and adjusted EPS of $16.75–$17.25.
Key takeaways
- The supplied analysis says Q1 revenue grew 8% year over year, with 100 basis points of margin expansion and 9% EPS growth.
- Portfolio reshaping includes the Ostra divestiture and a planned tax-free Mobility spin-off.
- Visible Alpha was integrated into Capital IQ ahead of schedule, while AI-enabled iLevel and new benchmarks support the product pipeline.
- Capital allocation included $900 million returned to shareholders, with additional buybacks planned.
- The central tension is strong recurring-demand and product momentum versus lower guidance, free-cash-flow pressure, and execution risk.
Management priorities
- Execute the Mobility spin-off within 12–18 months
- Complete the Ostra transaction and redeploy proceeds toward additional share repurchases
- Continue the rollout of AI-powered data tools and new benchmarks
- Maintain expense discipline and protect margin guidance
- Host the November 13 Investor Day in New York
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Analyst 52W Price Targets
$396.7Current
$407Low
$510.03Average
$629High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 8, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Oct 6, 2026 |
| RBC Capital | Outperform | Outperform | Maintain | Aug 26, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 29, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 29, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 29, 2026 |
| Baird | Outperform | Outperform | Maintain | Jul 29, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 17, 2026 |
| B of A Securities | Buy | Buy | Maintain | Jul 10, 2026 |
| UBS | Buy | Buy | Maintain | Jul 7, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Jul 7, 2026 |
| BMO Capital | Outperform | Outperform | Maintain | Jul 7, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Apr 13, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Feb 11, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Feb 11, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Jul 2, 2025 |
| Raymond James | Market Perform | Outperform | Downgrade | Sep 23, 2024 |
| Erste Group | Hold | Buy | Downgrade | Apr 3, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | Feb 10, 2023 |
| Atlantic Equities | Overweight | Neutral | Upgrade | Nov 7, 2022 |
| Argus Research | Buy | Buy | Maintain | Nov 1, 2022 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 21, 2022 |
| Jefferies | Buy | Buy | Maintain | Jun 2, 2022 |
| Cantor Fitzgerald | Overweight | Overweight | Maintain | Feb 7, 2020 |
| PiperJaffray | Overweight | Overweight | Maintain | Apr 5, 2019 |
| Piper Sandler | Overweight | Overweight | Maintain | Apr 5, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jul 27, 2018 |
| Argus | Buy | Buy | Maintain | May 5, 2018 |
| Nomura | Neutral | Neutral | Maintain | Jan 11, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $396.7. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $477 | $396.13 | +20.2% | Oct 7, 2026 |
| Mizuho Securities | Sean Kennedy | $531 | $388.72 | +33.9% | Oct 5, 2026 |
| Robert W. Baird | Jeffrey Meuler | $513 | $440.21 | +29.3% | Sep 2, 2026 |
| Stifel Nicolaus | Analyst unavailable | $521 | $457.38 | +31.3% | Jul 17, 2026 |
| RBC Capital | Ashish Sabadra | $510 | $443.91 | +28.6% | Jul 7, 2026 |
| BMO Capital | Analyst unavailable | $505 | $447.22 | +27.3% | Jul 7, 2026 |
| Barclays | Manav Patnaik | $565 | $417.48 | +42.4% | Feb 23, 2026 |
| UBS | Analyst unavailable | $550 | $412.94 | +38.6% | Feb 17, 2026 |
| Mizuho Securities | Analyst unavailable | $551 | $390.76 | +38.9% | Feb 12, 2026 |
| Evercore ISI | David Motemaden | $625 | $400.3 | +57.5% | Feb 11, 2026 |
| BMO Capital | Jeffrey Silber | $482 | $401.26 | +21.5% | Feb 11, 2026 |
| Stifel Nicolaus | Analyst unavailable | $489 | $401.08 | +23.3% | Feb 11, 2026 |
| Robert W. Baird | Analyst unavailable | $546 | $401.08 | +37.6% | Feb 11, 2026 |
| Goldman Sachs | George Tong | $498 | $407.52 | +25.5% | Feb 11, 2026 |
| Goldman Sachs | Analyst unavailable | $555 | $440 | +39.9% | Feb 9, 2026 |
| Morgan Stanley | Analyst unavailable | $627 | $544.48 | +58.1% | Jan 13, 2026 |
| Evercore ISI | David Motemaden | $632 | $543.12 | +59.3% | Jan 8, 2026 |
| Goldman Sachs | Analyst unavailable | $640 | $499.44 | +61.3% | Dec 16, 2025 |
| BMO Capital | Jeffrey Silber | $546 | $501.79 | +37.6% | Nov 14, 2025 |
| Evercore ISI | Analyst unavailable | $629 | $489.61 | +58.6% | Oct 31, 2025 |
| BMO Capital | Jeffrey Silber | $538 | $491.57 | +35.6% | Oct 31, 2025 |
| BMO Capital | Analyst unavailable | $558 | $482.88 | +40.7% | Oct 16, 2025 |
| Mizuho Securities | Analyst unavailable | $643 | $482.88 | +62.1% | Oct 16, 2025 |
| Morgan Stanley | Analyst unavailable | $620 | $482.43 | +56.3% | Oct 9, 2025 |
| Seaport Global | Analyst unavailable | $540 | $486.71 | +36.1% | Oct 1, 2025 |
| Mizuho Securities | Sean Kennedy | $599 | $480 | +51.0% | Mar 12, 2025 |
| Stifel Nicolaus | Shlomo Rosenbaum | $560 | $487.34 | +41.2% | Oct 28, 2024 |
| BMO Capital | Jeffrey Silber | $589 | $527.52 | +48.5% | Oct 15, 2024 |
| Morgan Stanley | Toni Kaplan | $570 | $518.35 | +43.7% | Oct 9, 2024 |
| Evercore ISI | David Motemaden | $599 | $512.22 | +51.0% | Oct 1, 2024 |
| Morgan Stanley | Toni Kaplan | $564 | $513.31 | +42.2% | Sep 5, 2024 |
| BMO Capital | Jeffrey Silber | $537 | $510.6 | +35.4% | Sep 4, 2024 |
| Wells Fargo | Jason Haas | $575 | $484.47 | +44.9% | Aug 12, 2024 |
| RBC Capital | Ashish Sabadra | $552 | $484.73 | +39.1% | Jul 31, 2024 |
| Barclays | Manav Patnaik | $550 | $488.51 | +38.6% | Jul 31, 2024 |
| Stifel Nicolaus | Shlomo Rosenbaum | $540 | $488.51 | +36.1% | Jul 30, 2024 |
| Morgan Stanley | Toni Kaplan | $510 | $449.44 | +28.6% | Jul 5, 2024 |
| Oppenheimer | Owen Lau | $486 | $446 | +22.5% | Jul 1, 2024 |
| RBC Capital | Ashish Sabadra | $500 | $436.28 | +26.0% | May 24, 2024 |
| Raymond James | Patrick O'Shaughnessy | $462 | $424.04 | +16.5% | Apr 11, 2024 |
| BMO Capital | Jeffrey Silber | $483 | $425.45 | +21.8% | Apr 1, 2024 |
| Morgan Stanley | Analyst unavailable | $403 | $372.91 | +1.6% | Feb 6, 2023 |
| Morgan Stanley | Analyst unavailable | $388 | $343.38 | -2.2% | Jan 4, 2023 |
| Morgan Stanley | Analyst unavailable | $390 | $360.34 | -1.7% | Dec 2, 2022 |
| J.P. Morgan | Analyst unavailable | $410 | $358.33 | +3.4% | Dec 2, 2022 |
| BMO Capital | Analyst unavailable | $393 | $356.07 | -0.9% | Nov 28, 2022 |
| Morgan Stanley | Analyst unavailable | $378 | $346.92 | -4.7% | Nov 17, 2022 |
| Barclays | Manav Patnaik | $385 | $319.93 | -3.0% | Jun 19, 2022 |
| UBS | Alex Kramm | $407 | $315.1 | +2.6% | Jun 16, 2022 |
| RBC Capital | Ashish Sabadra | $434 | $336.43 | +9.4% | Jun 10, 2022 |
| Deutsche Bank | Faiza Alwy | $418 | $335.93 | +5.4% | Jun 6, 2022 |
| Morgan Stanley | Analyst unavailable | $419 | $356.6 | +5.6% | May 4, 2022 |
| BMO Capital | Analyst unavailable | $433 | $356.44 | +9.1% | May 4, 2022 |
| Credit Suisse | Analyst unavailable | $425 | $353.79 | +7.1% | May 4, 2022 |
| Raymond James | Analyst unavailable | $462 | $348.96 | +16.5% | May 4, 2022 |
| BMO Capital | Jeffrey Silber | $462 | $395.35 | +16.5% | Apr 20, 2022 |
| Credit Suisse | Kevin McVeigh | $495 | $407.88 | +24.8% | Apr 2, 2022 |
| BMO Capital | Jeffrey Silber | $454 | $379.68 | +14.4% | Mar 12, 2022 |
| J.P. Morgan | Andrew Steinerman | $480 | $399.12 | +21.0% | Mar 2, 2022 |
| Jefferies | Hamzah Mazari | $453 | $399.12 | +14.2% | Mar 2, 2022 |
| RBC Capital | Ashish Sabadra | $540 | $390.58 | +36.1% | Mar 1, 2022 |
| Robert W. Baird | Jeffrey Meuler | $493 | $375.7 | +24.3% | Feb 28, 2022 |
| Argus Research | John Eade | $500 | $460.93 | +26.0% | Oct 27, 2021 |
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Start freeCompany context
Snapshot as of publicationS&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through five segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, S&P Global Mobility, and S&P Dow Jones Indices. The S&P Global Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions. This segment offers Data, Analytics & Insights, a desktop product suite that provides data, analytics, and third-party research for global finance and corporate professionals; research, reference data, market data, derived analytics, and valuation services; enterprise solutions, such as software and workflow solutions; and credit and risk solutions for selling Ratings' credit ratings and related data and research, analytics, and financial risk solutions.…
Historical context
All SPGI earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-04-15T00:03:42.498162+00:00
- Polygon adjusted daily market bars · 2026-10-08T15:00:47.109269+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-08T15:00:47.106525+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-08. For educational purposes only; not investment advice.