S&P Global (SPGI) Operating Margin (2009 - 2026)
S&P Global posted quarterly Operating Margin of 48.0% for Q1 2026, up 622.0% year-on-year from 6.65% in Q1 2025, and up 12.28% on a QoQ basis from 42.75% in Q4 2025.
S&P Global (SPGI) has 18 years of Operating Margin data on file, last reported at 48.0% in Q1 2026.
- For the quarter ending Q1 2026, Operating Margin rose 622.0% year-over-year to 48.0%; the trailing twelve-month figure through Mar 2026 stood at 43.88% (up 404.0% YoY), and the FY2025 full-year result was 42.24%, up 297.0% from the prior year.
- Operating Margin for Q1 2026 stood at 48.0%, 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.
- The 5-year median for Operating Margin is 40.11% (2024), against an average of 40.33%.
- The widest annual swing landed in 2022, when Operating Margin jumped 2558 bps; it then slumped 4299 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 24.38% in 2022, then advanced by 16 bps to 28.24% in 2023, then rose by 29 bps to 36.44% in 2024, then increased by 17 bps to 42.75% in 2025, then climbed by 12 bps to 48.0% in 2026.
- The last three Operating Margin figures came in at 48.0% (Q1 2026), 42.75% (Q4 2025), and 43.08% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | S&P Global | 126.06 Bn | 129.16 Bn | 2.94 Bn | 48.00% |
| 2 | Cme | 98.29 Bn | 98.29 Bn | 1.83 Bn | 69.66% |
| 3 | Intercontinental Exchange | 83.83 Bn | 82.37 Bn | - | 55.93% |
| 4 | Moodys | 80.13 Bn | 78.77 Bn | 1.55 Bn | 44.35% |
| 5 | Nasdaq | 52.44 Bn | 51.76 Bn | 1.41 Bn | 30.74% |
| 6 | Coinbase Global | 50.05 Bn | 49.52 Bn | 1.33 Bn | -1.52% |
| 7 | Msci | 46.28 Bn | 45.89 Bn | 765.10 Mn | 53.70% |
| 8 | Cboe Global Markets | 34.92 Bn | 32.75 Bn | 728.90 Mn | 39.72% |
| 9 | TransUnion | 13.79 Bn | 13.22 Bn | 726.20 Mn | 19.65% |
| 10 | Factset Research Systems | 9.06 Bn | 8.78 Bn | 314.28 Mn | 30.27% |
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% |
| Mar 31, 2021 | 53.62% |
| Dec 31, 2020 | 35.14% |
| Sep 30, 2020 | 51.14% |
| Jun 30, 2020 | 56.87% |
| Mar 31, 2020 | 51.06% |
| Dec 31, 2019 | 47.15% |
| Sep 30, 2019 | 52.75% |
| Jun 30, 2019 | 47.71% |
| Mar 31, 2019 | 44.88% |
| Dec 31, 2018 | 45.83% |
| Sep 30, 2018 | 45.54% |
| Jun 30, 2018 | 41.77% |
| Mar 31, 2018 | 45.37% |
| Dec 31, 2017 | 39.46% |
| Sep 30, 2017 | 42.89% |
| Jun 30, 2017 | 44.27% |
| Mar 31, 2017 | 43.98% |
| Dec 31, 2016 | 61.26% |
| Sep 30, 2016 | 93.68% |
| Jun 30, 2016 | 43.93% |
| Mar 31, 2016 | 38.18% |
| Dec 31, 2015 | 30.86% |
| Sep 30, 2015 | 30.97% |
| Jun 30, 2015 | 43.37% |
| Mar 31, 2015 | 39.36% |
| Dec 31, 2014 | -88.99% |
| Sep 30, 2014 | 28.98% |
| Jun 30, 2014 | 36.56% |
| Mar 31, 2014 | 35.12% |
| Dec 31, 2013 | 22.47% |
| Sep 30, 2013 | 34.29% |
| Jun 30, 2013 | 35.10% |
| Mar 31, 2013 | 23.60% |
| Dec 31, 2012 | 28.30% |
| Sep 30, 2012 | 24.64% |
| Jun 30, 2012 | 28.73% |
| Mar 31, 2012 | 27.25% |
| Dec 31, 2011 | -10.26% |
| Sep 30, 2011 | 27.25% |
| Jun 30, 2011 | 35.10% |
| Mar 31, 2011 | 22.52% |
| Dec 31, 2010 | -7.98% |
| Sep 30, 2010 | 32.21% |
| Jun 30, 2010 | 22.52% |
| Mar 31, 2010 | 16.25% |
| Dec 31, 2009 | 19.31% |
| Sep 30, 2009 | 29.64% |
| Jun 30, 2009 | 20.22% |
| Mar 31, 2009 | 10.83% |