---
title: S&P Global (SPGI) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/spgi
ticker: SPGI
as_of: 2026-10-17
sector: Financial Services
industry: Financial - Data & Stock Exchanges
---
# S&P Global (SPGI)

S&P Global (SPGI) closed at $429.64 on Oct 16, 2026, overvalued by 39% vs its model value of $308.60 (from a five-year discounted cash flow).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $429.64 (Oct 16, 2026) |
| Model value (from a five-year discounted cash flow) | $308.60 |
| Price vs model | overvalued by 39% vs model |
| Range of that model | $202.90 – $626.65 |
| Market value | $126.7B |
| P/E (fiscal 2025) | 29.3 |
| Net margin (fiscal 2025) | 29.2% |
| Free cash flow (fiscal 2025) | $5.5B |
| Dividend yield (trailing twelve months) | 0.90% |
| Beta | 1.09 |
| Cost of capital (WACC) | 8.96% |
| Business classification | Mature & Stable (Moderate growth (~11% recent), High profitability (29% net margin), Highly cyclical earnings) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 0.90% |
| Dividends per share, last 12 months | $3.87 |
| Dividends / free cash flow (fiscal 2025) | 21.4% |
| Raised | 20 years in a row |
| Growth over 5 years | 5.4% a year |
| Latest payment | $0.97, ex-date Aug 26, 2026, paid Sep 10, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Aug 25, 2021 | $2.98 |
| To Aug 25, 2022 | $3.24 |
| To Aug 25, 2023 | $3.55 |
| To Aug 27, 2024 | $3.63 |
| To Aug 26, 2025 | $3.79 |
| Trailing twelve months (to Aug 26, 2026) | $3.87 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | primary | $308.60 | $202.90 | $626.65 |
| DCF · Perpetuity growth · 10y | cross check | $332.63 | $225.19 | $650.05 |
| DCF · EBITDA exit · 5y | cross check | $367.16 | $261.54 | $491.26 |
| DCF · EBITDA exit · 10y | cross check | $380.66 | $269.10 | $528.43 |
| P/E · peers | cross check | $392.51 | $332.83 | $516.20 |
| P/E · own history | cross check | $619.73 | $489.69 | $733.05 |
| PEG | sanity check | $249.04 | $249.04 | $249.04 |
| EV/EBITDA · peers | cross check | $415.02 | $377.47 | $535.32 |
| EV/Revenue · peers | cross check | $405.56 | $346.09 | $623.52 |
| Earnings power value | cross check | $49.48 | $37.06 | $66.91 |
| Dividend discount | cross check | $79.34 | $55.47 | $126.00 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Oct 1, 2026 | Ganesan Girish | EVP, Chief People Officer | Option/RSU exercise | 186 | $0 |
| Oct 1, 2026 | Ganesan Girish | EVP, Chief People Officer | Tax withholding | 103 | $39,980.5 |
| Oct 1, 2026 | Ganesan Girish | EVP, Chief People Officer | Option/RSU exercise | 186 | $0 |
| Aug 1, 2026 | Thomas Darren Robert | Co-Head, Market Intelligence | Option/RSU exercise | 558 | $0 |
| Aug 1, 2026 | Thomas Darren Robert | Co-Head, Market Intelligence | Tax withholding | 227 | $93,508.1 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Jul 28, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/64040/000006404026000045/spgi-20260630.htm |
| Jul 28, 2026 | 8-K | 2.02 Results of Operations (Earnings); 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/64040/000006404026000040/spgi-20260728.htm |
| Jul 9, 2026 | S-4 | Merger registration | https://www.sec.gov/Archives/edgar/data/64040/000110465926082258/tm2618680-1_s4.htm |
| Jul 6, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/64040/000110465926080751/tm2619719d1_8k.htm |
| Jul 6, 2026 | 8-K | 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/64040/000110465926080571/tm2619099d2_8ka.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Chris Hohn | 2026-06-30 | 14,081,957 | $5.7B |
| Ackman | 2026-06-30 | 2,593,155 | $1.1B |
| Valley Forge | 2026-06-30 | 1,524,036 | $620.7M |
| John Armitage | 2026-06-30 | 351,920 | $143.3M |

18 tracked managers in all.

## About

S&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through five segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, S&P Global Mobility, and S&P Dow Jones Indices. The S&P Global Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions. This segment offers Data, Analytics & Insights, a desktop product suite that provides data, analytics, and third-party research for global finance and corporate professionals; research, reference data, market data, derived analytics, and valuation services; enterprise solutions, such as software and workflow solutions; and credit and risk solutions for selling Ratings' credit ratings and related data and research, analytics,…

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Source: https://sweetvaluelab.com/stocks/spgi (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.