S&P Global Inc.
SPGINYSE
$452.65
Last price · USD
- Market cap
- $138.1B
- P/E
- 30.9x
- EV / EBITDA
- 19.6x
- P/S
- 9.0x
- FCF yield
- 4.0%
- Div. yield
- 0.85%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
S&P Global Inc. cash flow statement
Annual · USD millions except per-share data · 36 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 4,820 | 3,852 | 2,893 | 3,522 | 3,263 | +10.2% | |
| Depreciation & amortization | 1,179 | 1,173 | 1,143 | 1,013 | 178 | +60.4% | |
| Deferred income tax | (242) | (323) | (381) | (353) | 13 | — | |
| Stock-based compensation | 236 | 247 | 171 | 214 | 122 | +17.9% | |
| Change in working capital | (432) | 235 | (460) | (74) | (70) | — | |
| Accounts receivables | (600) | (79) | (291) | 36 | (144) | — | |
| Accounts payables | (55) | 245 | 328 | 43 | 38 | — | |
| Other working capital | 223 | 69 | (497) | (153) | 36 | +57.8% | |
| Other non-cash items | 90 | 505 | 344 | (1,719) | 92 | -0.5% | |
| Net cash from operating activities | 5,651 | 5,689 | 3,710 | 2,603 | 3,598 | +11.9% | |
| Operating cash flow | 5,651 | 5,689 | 3,710 | 2,603 | 3,598 | +11.9% | |
| Investing activities | |||||||
| Investments in PP&E | (195) | (124) | (143) | (89) | (35) | — | |
| Capital expenditure | (195) | (124) | (143) | (89) | (35) | — | |
| Acquisitions, net | (2,023) | (137) | 718 | 3,719 | (83) | — | |
| Purchases of investments | (35) | 0 | 0 | (2) | (2) | — | |
| Sales / maturities of investments | 0 | 0 | 0 | 2 | 2 | — | |
| Other investing activities | 1,549 | 6 | (13) | (2) | (2) | — | |
| Net cash from investing activities | (704) | (255) | 562 | 3,628 | (120) | — | |
| Financing activities | |||||||
| Net debt issuance | 1,704 | (47) | 556 | 1,665 | 0 | — | |
| Short-term net debt issuance | 715 | 0 | (188) | (32) | 0 | — | |
| Long-term net debt issuance | 989 | (47) | 744 | 1,697 | 0 | — | |
| Net stock issuance | (5,001) | (3,301) | (3,301) | (12,004) | 13 | — | |
| Common stock issuance | 0 | 0 | 0 | 0 | 13 | — | |
| Common stock repurchased | (5,001) | (3,301) | (3,301) | (12,004) | 0 | — | |
| Net common stock issuance | (5,001) | (3,301) | (3,301) | (12,004) | 13 | — | |
| Common dividends paid | (1,170) | (1,134) | (1,147) | (1,024) | (743) | — | |
| Net dividends paid | (1,170) | (1,134) | (1,147) | (1,024) | (743) | — | |
| Other financing activities | (463) | (516) | (388) | 37 | (283) | — | |
| Net cash from financing activities | (4,930) | (4,998) | (4,280) | (11,326) | (1,013) | — | |
| Cash summary | |||||||
| Effect of forex changes on cash | 62 | (61) | 12 | (123) | (82) | — | |
| Net change in cash | 79 | 375 | 4 | (5,218) | 2,383 | -57.3% | |
| Cash at beginning of period | 1,666 | 1,291 | 1,287 | 6,505 | 4,122 | -20.3% | |
| Cash at end of period | 1,745 | 1,666 | 1,291 | 1,287 | 6,505 | -28.0% | |
| Free cash flow | 5,456 | 5,565 | 3,567 | 2,514 | 3,563 | +11.2% | |
| Income taxes paid | 0 | 1,159 | 1,279 | 1,555 | 883 | — | |
| Interest paid | 0 | 391 | 369 | 240 | 130 | — | |