Financials S&P Global, Inc.

Equities

SPGI

US78409V1044

Professional Information Services

Real-time Estimate Cboe BZX 03:32:41 2024-02-22 pm EST 5-day change 1st Jan Change
436.3 USD +2.82% Intraday chart for S&P Global, Inc. +2.84% -0.90%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 66,733 79,092 113,676 109,123 139,557 133,282 - -
Enterprise Value (EV) 1 67,795 79,080 111,285 118,792 149,725 143,163 142,359 142,694
P/E ratio 31.8 x 34 x 37.7 x 31.8 x 53.5 x 39.6 x 33.8 x 28.8 x
Yield 0.84% 0.82% 0.65% 0.99% 0.82% 0.88% 0.95% 1.05%
Capitalization / Revenue 9.96 x 10.6 x 13.7 x 9.21 x 11.2 x 9.98 x 9.24 x 8.57 x
EV / Revenue 10.1 x 10.6 x 13.4 x 10 x 12 x 10.7 x 9.86 x 9.17 x
EV / EBITDA 19.7 x 19.5 x 23.9 x 21.9 x 25.7 x 22.3 x 20.2 x 18.5 x
EV / FCF 26.2 x 24 x 33.4 x 30 x 36.9 x 34 x 28.1 x 25.9 x
FCF Yield 3.81% 4.17% 3% 3.33% 2.71% 2.94% 3.56% 3.86%
Price to Book 126 x 139 x 54 x 2.92 x 4.1 x 3.84 x 3.79 x 3.95 x
Nbr of stocks (in thousands) 244,400 240,599 240,875 325,800 316,800 314,100 - -
Reference price 2 273.0 328.7 471.9 334.9 440.5 424.3 424.3 424.3
Announcement Date 2/6/20 2/9/21 2/8/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 6,699 7,442 8,297 11,842 12,497 13,359 14,432 15,555
EBITDA 1 3,442 4,050 4,663 5,427 5,833 6,430 7,051 7,718
EBIT 1 3,360 3,967 4,581 5,319 5,732 6,319 6,967 7,641
Operating Margin 50.16% 53.31% 55.21% 44.92% 45.87% 47.3% 48.27% 49.12%
Earnings before Tax (EBT) 1 2,930 3,228 4,164 5,017 3,671 4,544 5,238 5,972
Net income 1 2,123 2,339 3,024 3,543 2,626 3,357 3,858 4,388
Net margin 31.69% 31.43% 36.45% 29.92% 21.01% 25.13% 26.73% 28.21%
EPS 2 8.600 9.660 12.51 10.53 8.230 10.72 12.57 14.73
Free Cash Flow 1 2,583 3,297 3,336 3,955 4,057 4,215 5,067 5,508
FCF margin 38.56% 44.3% 40.21% 33.4% 32.46% 31.55% 35.11% 35.41%
FCF Conversion (EBITDA) 75.04% 81.41% 71.54% 72.88% 69.55% 65.55% 71.86% 71.37%
FCF Conversion (Net income) 121.67% 140.96% 110.32% 111.63% 154.49% 125.54% 131.35% 125.54%
Dividend per Share 2 2.280 2.680 3.080 3.320 3.600 3.740 4.028 4.467
Announcement Date 2/6/20 2/9/21 2/8/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 2,087 2,088 3,072 2,970 2,862 2,937 3,160 3,101 3,084 3,152 3,333 3,316 3,318 3,388 3,573
EBITDA 1 1,176 1,055 1,012 1,438 1,349 1,226 1,485 1,456 1,472 1,420 1,639 1,604 1,613 1,579 1,764
EBIT 1 1,155 1,036 1,388 1,402 1,318 1,211 1,460 1,432 1,450 1,390 1,597 1,582 1,586 1,547 1,744
Operating Margin 55.34% 49.62% 45.18% 47.21% 46.05% 41.23% 46.2% 46.18% 47.02% 44.1% 47.91% 47.7% 47.79% 45.67% 48.8%
Earnings before Tax (EBT) 1 1,074 890 2,182 1,391 823 621 1,048 834 995 795 1,150 1,138 1,151 1,136 1,296
Net income 1 797 675 1,530 972 608 433 795 511 742 579 853.5 838.7 840.3 821.3 953.9
Net margin 38.19% 32.33% 49.8% 32.73% 21.24% 14.74% 25.16% 16.48% 24.06% 18.37% 25.6% 25.29% 25.32% 24.24% 26.7%
EPS 2 3.300 2.790 4.470 2.860 1.840 1.330 2.470 1.600 2.330 1.830 2.747 2.679 2.708 2.657 3.124
Dividend per Share 2 0.7700 0.7700 0.7700 0.8500 0.8500 0.8500 0.9000 0.9000 0.9000 0.9000 0.9175 0.9175 0.9175 0.9175 0.6855
Announcement Date 10/26/21 2/8/22 5/3/22 8/2/22 10/27/22 2/9/23 4/27/23 7/27/23 11/2/23 2/8/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,062 - - 9,669 10,168 9,881 9,077 9,412
Net Cash position 1 - 12 2,391 - - - - -
Leverage (Debt/EBITDA) 0.3085 x - - 1.782 x 1.743 x 1.537 x 1.287 x 1.22 x
Free Cash Flow 1 2,583 3,297 3,336 3,955 4,057 4,215 5,067 5,509
ROE (net income / shareholders' equity) 348% 423% 247% 19.5% 11.4% 11.4% 12.5% 15.5%
ROA (Net income/ Total Assets) 20.4% 21.8% 24% 9.8% 6.57% 6.53% 7.29% 8.1%
Assets 1 10,394 10,724 12,587 36,141 39,979 51,418 52,906 54,170
Book Value Per Share 2 2.170 2.370 8.740 115.0 108.0 111.0 112.0 108.0
Cash Flow per Share 2 11.20 13.70 15.20 - 13.10 13.70 18.20 20.40
Capex 1 115 76 35 - 143 162 171 183
Capex / Sales 1.72% 1.02% 0.42% - 1.14% 1.21% 1.19% 1.18%
Announcement Date 2/6/20 2/9/21 2/8/22 2/9/23 2/8/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
22
Last Close Price
424.3 USD
Average target price
484.4 USD
Spread / Average Target
+14.16%
Consensus
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