S&P Global (SPGI) Operating Margin (2009 - 2026)
S&P Global (SPGI) recorded Operating Margin of 43.70% in Q2 2026, up 2.40 percentage points from 41.30% a year earlier but down 4.29 percentage points from the prior quarter.
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Analysis
S&P Global (SPGI) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, S&P Global's Operating Margin came in at 44.43% as of Jun 30, 2026, up 4.48 percentage points year-over-year; for FY2025, it was 42.24%, up 2.97 percentage points from FY2024.
- Annual Operating Margin has a five-year change of -6.36 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 39.27% in FY2024 (+7.11 pp), 32.17% in FY2023 (-12.05 pp), 44.22% in FY2022 (-6.66 pp) and 50.87% in FY2021 (+2.27 pp).
- Quarterly Operating Margin has ranged from 24.38% in Q4 2022 to 79.20% in Q1 2022 over the past five years.
- On a year-over-year basis, Operating Margin has increased for 12 consecutive quarters, with an average year-over-year change of +4.24 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 25.58 percentage points in Q1 2022, against a drop of 42.99 percentage points in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at 48.00% (Q1 2026), 42.75% (Q4 2025) and 43.08% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 115.73 Bn | 111.34 Bn | 2.98 Bn | 43.70% |
| 2 | Moodys | 78.77 Bn | 71.20 Bn | 1.67 Bn | 47.87% |
| 3 | Msci | 39.23 Bn | 37.58 Bn | 717.10 Mn | 56.23% |
| 4 | Verisk Analytics | 21.59 Bn | 16.23 Bn | 572.90 Mn | 45.11% |
| 5 | Equifax | 16.56 Bn | 15.96 Bn | 926.40 Mn | 18.48% |
| 6 | TransUnion | 12.32 Bn | 9.30 Bn | - | 19.70% |
| 7 | Factset Research Systems | 9.30 Bn | 8.06 Bn | 310.73 Mn | 26.70% |
| 8 | Morningstar | 6.99 Bn | 4.89 Bn | 423.90 Mn | 24.22% |
| 9 | Mastercard | 490.78 Bn | 450.70 Bn | - | 60.22% |
| 10 | Cme | 94.57 Bn | 94.57 Bn | - | 64.89% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 43.70% |
| Mar 31, 2026 | 48.00% |
| Dec 31, 2025 | 42.75% |
| Sep 30, 2025 | 43.08% |
| Jun 30, 2025 | 41.30% |
| Mar 31, 2025 | 41.78% |
| Dec 31, 2024 | 36.44% |
| Sep 30, 2024 | 40.11% |
| Jun 30, 2024 | 40.91% |
| Mar 31, 2024 | 39.67% |
| Dec 31, 2023 | 28.24% |
| Sep 30, 2023 | 34.82% |
| Jun 30, 2023 | 29.38% |
| Mar 31, 2023 | 36.20% |
| Dec 31, 2022 | 24.38% |
| Sep 30, 2022 | 29.81% |
| Jun 30, 2022 | 49.52% |
| Mar 31, 2022 | 79.20% |
| Dec 31, 2021 | 43.30% |
| Sep 30, 2021 | 51.89% |
API Access
S&P Global Operating 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=operating-margin&ticker=SPGI&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-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=operating-margin&ticker=SPGI&period=max&api_key=YOUR_API_KEY");
const data = await res.json();