S&P Global (SPGI) Gross Margin (2009 - 2026)
S&P Global posted quarterly Gross Margin of 70.39% for Q1 2026, up 92.0% year-on-year from 36.66% in Q1 2025, and little changed on a QoQ basis from 70.12% in Q4 2025.
S&P Global (SPGI) has 18 years of Gross Margin data on file, last reported at 70.39% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 92.0% year-over-year to 70.39%; the trailing twelve-month figure through Mar 2026 stood at 70.47% (up 85.0% YoY), and the FY2025 full-year result was 70.25%, up 94.0% from the prior year.
- Gross Margin for Q1 2026 stood at 70.39%, roughly flat from 70.12% in the prior quarter.
- Across five years, Gross Margin topped out at 71.17% in Q3 2025 and bottomed at 65.43% in Q3 2022.
- The 5-year median for Gross Margin is 68.65% (2022), against an average of 68.36%.
- The widest annual swing landed in 2022, when Gross Margin slumped 855 bps; it then soared 271 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 65.68% in 2022, then rose by 2 bps to 67.26% in 2023, then advanced by 3 bps to 69.18% in 2024, then climbed by 1 bps to 70.12% in 2025, then gained by 0 bps to 70.39% in 2026.
- The last three Gross Margin figures came in at 70.39% (Q1 2026), 70.12% (Q4 2025), and 71.17% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 126.06 Bn | 129.16 Bn | 2.94 Bn | 70.39% |
| 2 | Cme | 98.29 Bn | 98.29 Bn | 1.83 Bn | 97.21% |
| 3 | Intercontinental Exchange | 83.83 Bn | 82.37 Bn | - | - |
| 4 | Moodys | 80.13 Bn | 78.77 Bn | 1.55 Bn | 74.46% |
| 5 | Nasdaq | 52.44 Bn | 51.76 Bn | 1.41 Bn | 65.84% |
| 6 | Coinbase Global | 50.05 Bn | 49.52 Bn | 1.33 Bn | 94.06% |
| 7 | Msci | 46.28 Bn | 45.89 Bn | 765.10 Mn | 89.93% |
| 8 | Cboe Global Markets | 34.92 Bn | 32.75 Bn | 728.90 Mn | 57.27% |
| 9 | TransUnion | 13.79 Bn | 13.22 Bn | 726.20 Mn | 58.30% |
| 10 | Factset Research Systems | 9.06 Bn | 8.78 Bn | 314.28 Mn | 51.43% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 74.69% |
| Mar 31, 2021 | 73.86% |
| Dec 31, 2020 | 69.68% |
| Sep 30, 2020 | 71.99% |
| Jun 30, 2020 | 74.63% |
| Mar 31, 2020 | 71.00% |
| Dec 31, 2019 | 70.26% |
| Sep 30, 2019 | 71.58% |
| Jun 30, 2019 | 72.36% |
| Mar 31, 2019 | 69.89% |
| Dec 31, 2018 | 64.13% |
| Sep 30, 2018 | 73.48% |
| Jun 30, 2018 | 72.59% |
| Mar 31, 2018 | 72.56% |
| Dec 31, 2017 | 72.81% |
| Sep 30, 2017 | 72.31% |
| Jun 30, 2017 | 71.37% |
| Mar 31, 2017 | 71.71% |
| Dec 31, 2016 | 69.91% |
| Sep 30, 2016 | 70.05% |
| Jun 30, 2016 | 68.35% |
| Mar 31, 2016 | 66.22% |
| Dec 31, 2015 | 65.28% |
| Sep 30, 2015 | 68.35% |
| Jun 30, 2015 | 69.30% |
| Mar 31, 2015 | 67.79% |
| Dec 31, 2014 | 65.43% |
| Sep 30, 2014 | 68.17% |
| Jun 30, 2014 | 68.74% |
| Mar 31, 2014 | 66.89% |
| Dec 31, 2013 | 62.69% |
| Sep 30, 2013 | 67.80% |
| Jun 30, 2013 | 67.22% |
| Mar 31, 2013 | 67.19% |
| Dec 31, 2012 | 71.21% |
| Sep 30, 2012 | 67.11% |
| Jun 30, 2012 | 67.26% |
| Mar 31, 2012 | 65.12% |
| Dec 31, 2011 | 40.14% |
| Sep 30, 2011 | 31.30% |
| Jun 30, 2011 | 76.57% |
| Mar 31, 2011 | 81.96% |
| Dec 31, 2010 | 75.56% |
| Sep 30, 2010 | 84.68% |
| Jun 30, 2010 | 61.29% |
| Mar 31, 2010 | 59.33% |
| Dec 31, 2009 | 80.81% |
| Sep 30, 2009 | 76.63% |
| Jun 30, 2009 | 60.24% |
| Mar 31, 2009 | 84.82% |