S&P Global (SPGI) Gross Margin (2009 - 2026)
S&P Global's (SPGI) quarterly Gross Margin came in at 71.9% in Q2 2026, up 170.0% YoY from 26.63% in Q2 2025, and up 2.14% on a QoQ basis from 70.39% in Q1 2026.
S&P Global (SPGI) Gross Margin (2009 - 2026) Analysis & Trends
S&P Global (SPGI) has 18 years of Gross Margin data on file, last reported at 71.9% in Q2 2026.
- Quarterly Gross Margin rose 170.0% year-over-year to 71.9% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 70.9% (up 113.0% YoY) and the FY2025 annual result came in at 70.25%, up 94.0% from the prior year.
- Gross Margin improved to 71.9% in Q2 2026, from 70.39% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 71.9% in Q2 2026 to a low of 65.43% in Q3 2022.
- A 5-year average of 68.56% and a median of 68.91% in 2022 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2022 — Gross Margin plunged 855 bps — and 2024, when it soared 271 bps.
- Tracing SPGI's Gross Margin over 5 years: stood at 65.68% in 2022, then increased by 2 bps to 67.26% in 2023, then gained by 3 bps to 69.18% in 2024, then advanced by 1 bps to 70.12% in 2025, then increased by 3 bps to 71.9% in 2026.
- The last three Gross Margin figures came in at 71.9% (Q2 2026), 70.39% (Q1 2026), and 70.12% (Q4 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 127.26 Bn | 123.12 Bn | 2.98 Bn | 71.90% |
| 2 | Cme | 99.13 Bn | 99.13 Bn | 1.65 Bn | 96.49% |
| 3 | Intercontinental Exchange | 90.95 Bn | 88.99 Bn | - | - |
| 4 | Moodys | 87.63 Bn | 86.13 Bn | 1.67 Bn | 76.29% |
| 5 | Nasdaq | 55.45 Bn | 54.73 Bn | 1.50 Bn | 59.24% |
| 6 | Coinbase Global | 49.19 Bn | 40.40 Bn | 1.16 Bn | 95.11% |
| 7 | Msci | 41.09 Bn | 40.73 Bn | 717.10 Mn | 82.71% |
| 8 | Cboe Global Markets | 31.57 Bn | 29.18 Bn | 731.60 Mn | 50.71% |
| 9 | TransUnion | 16.37 Bn | 15.54 Bn | 765.00 Mn | 58.41% |
| 10 | Factset Research Systems | 10.82 Bn | 10.52 Bn | 310.73 Mn | 49.88% |
Historic Data
Download 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% |