S&P Global (SPGI) Operating Expenses (2009 - 2026)
S&P Global's (SPGI) quarterly Operating Expenses came in at $2.3 billion in Q2 2026, up 5.73% on a YoY basis from $2.2 billion in Q2 2025, and little changed quarter-over-quarter from $2.3 billion in Q1 2026.
Analysis
S&P Global (SPGI) Operating Expenses (2009 - 2026) Analysis & Trends
S&P Global (SPGI) has reported Operating Expenses for 18 consecutive years, with $2.3 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 5.73% year-over-year to $2.3 billion; the trailing twelve-month figure through Jun 2026 stood at $9.4 billion (up 5.45% YoY), and the FY2025 full-year result was $9.2 billion, up 4.91% from the prior year.
- Operating Expenses steadied at $2.3 billion in Q2 2026 per SPGI's latest filing, from $2.3 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $2.5 billion in Q4 2025 and bottomed at $1.8 billion in Q1 2022.
- Historically, Operating Expenses has averaged $2.2 billion across 5 years, with a median of $2.2 billion in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses jumped 118.28% in 2022, then grew 0.19% in 2023.
- Over 5 years, Operating Expenses stood at $2.2 billion in 2022, then grew by 1.62% to $2.3 billion in 2023, then increased by 3.05% to $2.3 billion in 2024, then grew by 7.67% to $2.5 billion in 2025, then dropped by 6.65% to $2.3 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $2.3 billion, $2.3 billion, and $2.5 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 121.34 Bn | 117.20 Bn | 2.98 Bn | 2.35 Bn |
| 2 | Moodys | 81.34 Bn | 79.84 Bn | 1.67 Bn | 1.14 Bn |
| 3 | Msci | 39.85 Bn | 39.49 Bn | 717.10 Mn | 379.50 Mn |
| 4 | Verisk Analytics | 22.97 Bn | 22.42 Bn | 572.90 Mn | 442.60 Mn |
| 5 | Factset Research Systems | 9.48 Bn | 9.17 Bn | 310.73 Mn | 456.62 Mn |
| 6 | Morningstar | 7.30 Bn | 6.77 Bn | 423.90 Mn | 509.40 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.35 Bn |
| Mar 31, 2026 | 2.34 Bn |
| Dec 31, 2025 | 2.51 Bn |
| Sep 30, 2025 | 2.22 Bn |
| Jun 30, 2025 | 2.22 Bn |
| Mar 31, 2025 | 2.21 Bn |
| Dec 31, 2024 | 2.33 Bn |
| Sep 30, 2024 | 2.17 Bn |
| Jun 30, 2024 | 2.11 Bn |
| Mar 31, 2024 | 2.11 Bn |
| Dec 31, 2023 | 2.26 Bn |
| Sep 30, 2023 | 2.02 Bn |
| Jun 30, 2023 | 2.08 Bn |
| Mar 31, 2023 | 2.08 Bn |
| Dec 31, 2022 | 2.23 Bn |
| Sep 30, 2022 | 2.01 Bn |
| Jun 30, 2022 | 2.08 Bn |
| Mar 31, 2022 | 1.84 Bn |
| Dec 31, 2021 | 1.19 Bn |
| Sep 30, 2021 | 1.01 Bn |