Added to YB: 2026-02-19
Pitch date: 2026-02-14
SPGI [neutral]
S&P Global Inc.
+0.16%
current return
Author Info
No bio for this author
Company Info
S&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets.
Market Cap
$125.3B
Pitch Price
$416.00
Price Target
440.84 (+6%)
Dividend
0.93%
EV/EBITDA
18.31
P/E
28.61
EV/Sales
9.27
Sector
Capital Markets
Category
growth
S&P Global – Deep Dive and Valuation
SPGI (watchlist): World-class data/ratings oligopoly trading at historical avg valuation despite strong fundamentals. 5 segments: Ratings (60% margins, cyclical, surged 40% in 2024 w/ rate cuts), Market Intelligence (Capital IQ, 84% recurring rev, AI risk overstated), Indices (10% rev but 2x earnings share, passive investing tailwind), Commodities (90% recurring, embedded benchmarks), Mobility (spinning off at $10-12B). 7.5% rev CAGR, 40% op margins expanding to 50%, 35% FCF margins, 2% annual buybacks. Model shows $440 fair value (7% upside) at 27x exit multiple, $570 at 35x. Main risk is valuation compression. Watchlist - would buy on weakness.
Read full article (13 min)