S&P Global (SPGI) Cost of Revenue (2009 - 2026)
S&P Global's Cost of Revenue was $1.17 billion in Q2 2026, up 4.1% from $1.12 billion a year earlier but down 5.7% from the prior quarter.
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Analysis
S&P Global (SPGI) Cost of Revenue (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, S&P Global's Cost of Revenue was $4.69 billion through Jun 30, 2026, up 5.6% year-over-year; for FY2025, it was $4.56 billion, up 4.6% from FY2024.
- Cost of Revenue has now increased for eight consecutive years, with a five-year compound annual growth rate of 16.9% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $4.36 billion in FY2024 (+5.3%), $4.14 billion in FY2023 (+10.3%), $3.75 billion in FY2022 (+72.2%) and $2.18 billion in FY2021 (+4.1%).
- Quarterly Cost of Revenue has moved between $543 million (Q3 2021) and $1.24 billion (Q1 2026) over five years.
- Compared with a year earlier, Cost of Revenue has increased for 26 straight quarters, with growth averaging 5.5% over the last eight quarters.
- Over the past five years, the year-over-year growth in Cost of Revenue ranged from 0.6% (Q3 2023) to 88.9% (Q2 2022).
- Per Business Quant data, SPGI's Cost of Revenue in the three quarters before Q2 2026 was $1.24 billion (Q1 2026), $1.17 billion (Q4 2025) and $1.12 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 113.90 Bn | 109.50 Bn | 2.98 Bn | 1.17 Bn |
| 2 | Moodys | 76.48 Bn | 68.91 Bn | 1.67 Bn | 518.00 Mn |
| 3 | Msci | 38.99 Bn | 37.33 Bn | 717.10 Mn | 149.90 Mn |
| 4 | Verisk Analytics | 21.33 Bn | 15.96 Bn | 572.90 Mn | 233.40 Mn |
| 5 | Equifax | 16.47 Bn | 15.87 Bn | 926.40 Mn | 773.70 Mn |
| 6 | TransUnion | 12.16 Bn | 9.14 Bn | - | - |
| 7 | Factset Research Systems | 9.52 Bn | 8.28 Bn | 310.73 Mn | 312.19 Mn |
| 8 | Morningstar | 6.89 Bn | 4.79 Bn | 423.90 Mn | 239.30 Mn |
| 9 | Mastercard | 480.84 Bn | 440.75 Bn | - | - |
| 10 | Cme | 94.54 Bn | 94.54 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.17 Bn |
| Mar 31, 2026 | 1.24 Bn |
| Dec 31, 2025 | 1.17 Bn |
| Sep 30, 2025 | 1.12 Bn |
| Jun 30, 2025 | 1.12 Bn |
| Mar 31, 2025 | 1.15 Bn |
| Dec 31, 2024 | 1.11 Bn |
| Sep 30, 2024 | 1.07 Bn |
| Jun 30, 2024 | 1.08 Bn |
| Mar 31, 2024 | 1.11 Bn |
| Dec 31, 2023 | 1.03 Bn |
| Sep 30, 2023 | 995.00 Mn |
| Jun 30, 2023 | 1.03 Bn |
| Mar 31, 2023 | 1.09 Bn |
| Dec 31, 2022 | 1.01 Bn |
| Sep 30, 2022 | 989.00 Mn |
| Jun 30, 2022 | 1.01 Bn |
| Mar 31, 2022 | 749.00 Mn |
| Dec 31, 2021 | 582.00 Mn |
| Sep 30, 2021 | 543.00 Mn |
API Access
S&P Global Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=SPGI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "SPGI", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=SPGI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();