S&P Global Inc.

SPGINYSEFinancial Services● Active

$424.44

+$4.32(+1.03%)

Market Cap$125.6B

P/E Ratio—

52W High$579.05

52W Low$381.61

Avg Volume2.0M

Open$422.88

Beta1.08

Overview

S&P Global Inc. (SPGI) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

SPGI · free cash flow · updated Jun 8, 2026

Core FCF metrics

SPGI · FCF · TTM · margin & CAGR

Free cash flow was $5.46B for FY2025 (fiscal year ending 2025-12-31), down 2.0% year-over-year The FCF margin was 35.6%. Five-year CAGR stands at +9.3%.

FY2025 Free Cash Flow$5.46B▼ -2.0% YoY

Trailing 12M (TTM)$5.56Btrailing 4 quarters sum

FCF Margin35.6%$5.46B ÷ revenue

3-Year CAGR+29.5%FY2022 → FY2025

5-Year CAGR+9.3%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

SPGI · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$5.65B(195M)$5.46B▼ 2.0%35.6%

FY2024$5.69B(124M)$5.57B▲ +56.0%39.2%

FY2023$3.71B(143M)$3.57B▲ +41.9%28.5%

FY2022$2.60B(89M)$2.51B▼ 29.4%22.5%

FY2021$3.60B(35M)$3.56B▲ +2.1%42.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

SPGI · P/FCF · FCF yield · FCF per share

S&P Global Inc. (SPGI) trades at a FCF yield of 4.42% and a price-to-free-cash-flow ratio of 23.3x. FCF per share stands at $18.23, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

4.42%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$18.23

TTM FCF ÷ Shares Outstanding

Price / FCF

x23.3

Share Price ÷ FCF per Share

EV / FCF (TTM)

x24.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

SPGI · cash flow statement · operating / investing / financing

For FY2025, S&P Global Inc. generated $5.65B in operating cash flow and spent 195M in capital expenditures, yielding $5.46B in free cash flow.

Operating Activities

+$5.65B

Cash from core business operations

2025-12-31

Investing Activities

−$704.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$4.93B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($5.65B) − |CapEx| (195M) = FCF ($5.46B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

SPGI vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

S&P Global Inc.YOU

SPGI

$5.46B-2.0%35.6%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

S&P Global Inc. (SPGI) reported free cash flow of $5.46B for FY2025 (fiscal year ending 2025-12-31), down 2.0% year-over-year. The FCF margin was 35.6%.

Based on available data, S&P Global Inc. has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $5.57B in FY2024. The 5-year CAGR stands at +9.3%.

S&P Global Inc.'s FCF yield is 4.42% and price-to-FCF ratio is 23.3x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

SPGI free cash flow · 8 questions

S&P Global Inc. free cash flow was $5.46B for FY2025, down 2.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $5.56B.

SPGI free cash flowSPGI FCFSPGI FCF 2025SPGI free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · S&P Global Inc. · S&P Global Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026