S&P Global (SPGI) Gross Margin (2009 - 2026)
S&P Global's Gross Margin came in at 71.90% for Q2 2026, up 1.70 percentage points from 70.20% a year earlier and up 1.51 percentage points from the prior quarter.
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Analysis
S&P Global (SPGI) Gross Margin (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, S&P Global reported Gross Margin of 70.90%, up 1.13 percentage points year-over-year; for FY2025, it was 70.25%, up 0.94 percentage points from FY2024.
- Gross Margin has increased in each of the last three years, though with a five-year change of -1.62 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 69.31% in FY2024 (+2.44 pp), 66.86% in FY2023 (+0.43 pp), 66.43% in FY2022 (-7.29 pp) and 73.73% in FY2021 (+1.86 pp).
- The Q2 2026 figure represents the highest quarterly Gross Margin since Q4 2021.
- Year-over-year, Gross Margin has increased for 13 consecutive quarters, with an average year-over-year change of +1.35 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2024 (a gain of 2.71 percentage points), and the weakest in Q3 2022 (a drop of 8.55 percentage points).
- Business Quant data shows SPGI's Gross Margin at 70.39% (Q1 2026), 70.12% (Q4 2025) and 71.17% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 116.73 Bn | 112.33 Bn | 2.98 Bn | 71.90% |
| 2 | Moodys | 79.69 Bn | 72.12 Bn | 1.67 Bn | 76.29% |
| 3 | Msci | 39.48 Bn | 37.82 Bn | 717.10 Mn | 82.71% |
| 4 | Verisk Analytics | 21.83 Bn | 16.47 Bn | 572.90 Mn | 71.05% |
| 5 | Equifax | 17.14 Bn | 16.54 Bn | 926.40 Mn | 54.49% |
| 6 | TransUnion | 12.68 Bn | 9.66 Bn | - | - |
| 7 | Factset Research Systems | 9.57 Bn | 8.33 Bn | 310.73 Mn | 49.88% |
| 8 | Morningstar | 7.19 Bn | 5.09 Bn | 423.90 Mn | 63.92% |
| 9 | Mastercard | 494.77 Bn | 454.69 Bn | - | - |
| 10 | Cme | 94.58 Bn | 94.58 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 71.90% |
| Mar 31, 2026 | 70.39% |
| Dec 31, 2025 | 70.12% |
| Sep 30, 2025 | 71.17% |
| Jun 30, 2025 | 70.20% |
| Mar 31, 2025 | 69.47% |
| Dec 31, 2024 | 69.18% |
| Sep 30, 2024 | 70.21% |
| Jun 30, 2024 | 69.63% |
| Mar 31, 2024 | 68.18% |
| Dec 31, 2023 | 67.26% |
| Sep 30, 2023 | 67.74% |
| Jun 30, 2023 | 66.91% |
| Mar 31, 2023 | 65.57% |
| Dec 31, 2022 | 65.68% |
| Sep 30, 2022 | 65.43% |
| Jun 30, 2022 | 66.35% |
| Mar 31, 2022 | 68.65% |
| Dec 31, 2021 | 72.13% |
| Sep 30, 2021 | 73.98% |
API Access
S&P Global Gross Margin 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=gross-margin&ticker=SPGI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "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=gross-margin&ticker=SPGI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();