S&P Global (SPGI) Operating Margin (2009 - 2026)
S&P Global (SPGI) posted Operating Margin of 48.0% for Q1 2026, up 12.28% on a QoQ basis from 42.75% in Q4 2025, and up 622.0% year-over-year from 6.65% in Q1 2025.
S&P Global (SPGI) Operating Margin (2009 - 2026) Analysis & Trends
S&P Global's Operating Margin history runs 18 years deep, the most recent figure standing at 48.0% for Q1 2026.
- Quarterly Operating Margin rose 622.0% year-over-year to 48.0% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 43.88% (up 404.0% YoY) and the FY2025 annual result came in at 42.24%, up 297.0% from the prior year.
- Operating Margin was 48.0% for Q1 2026 at S&P Global, up from 42.75% in the prior quarter.
- Across five years, Operating Margin topped out at 79.2% in Q1 2022 and bottomed at 24.38% in Q4 2022.
- A 5-year average of 40.33% and a median of 40.11% in 2024 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2022 — Operating Margin jumped 2558 bps — and 2023, when it tumbled 4299 bps.
- S&P Global's Operating Margin stood at 24.38% in 2022, then climbed by 16 bps to 28.24% in 2023, then gained by 29 bps to 36.44% in 2024, then rose by 17 bps to 42.75% in 2025, then grew by 12 bps to 48.0% in 2026.
- Business Quant data shows SPGI's Operating Margin at 48.0% in Q1 2026, 42.75% in Q4 2025, and 43.08% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Bit Origin | 1,110.84 Bn | 1,110.84 Bn | - | - |
| 2 | S&P Global | 130.72 Bn | 128.91 Bn | 2.94 Bn | 48.00% |
| 3 | Cme | 92.16 Bn | 92.16 Bn | 1.65 Bn | 64.89% |
| 4 | Moodys | 84.72 Bn | 83.22 Bn | 1.67 Bn | 47.87% |
| 5 | Intercontinental Exchange | 84.12 Bn | 82.38 Bn | - | 55.93% |
| 6 | Nasdaq | 53.10 Bn | 52.38 Bn | 1.50 Bn | 28.12% |
| 7 | Coinbase Global | 44.25 Bn | 33.81 Bn | 1.33 Bn | -1.52% |
| 8 | Msci | 41.65 Bn | 41.29 Bn | 717.10 Mn | 56.23% |
| 9 | Cboe Global Markets | 30.13 Bn | 27.96 Bn | 728.90 Mn | 39.72% |
| 10 | TransUnion | 14.77 Bn | 14.04 Bn | 726.20 Mn | 19.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jun 30, 2021 | 54.80% |