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S&P Global Inc SPGI

Morningstar Rating
$478.32 +5.10 (1.08%)
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Company Report

S&P Global Has an Array of High-Margin, Moaty Businesses

Whether through credit ratings, financial indexes, or commodity price reporting, S&P Global has established a wide moat from its data-driven benchmarks. Given the embedded nature of these benchmarks, S&P enjoys a strong competitive position and strong operating margins. In February 2022, S&P completed its $44 billion acquisition of IHS Markit. We believe IHS Markit's recurring revenue model will further diversify S&P's revenue, limiting upside and downside scenarios for the firm.

Price vs Fair Value

SPGI is trading at a 674% premium.
Price
$478.32
Fair Value
$583.00
Uncertainty
Medium
1-Star Price
$969.50
5-Star Price
$364.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Once a benchmark is accepted by capital or commodity market participants, it is difficult to displace. As a result, S&P has strong pricing power in its ratings, index subscriptions, and Platts business.

Bears

A slowing global economy and rising interest rates will eventually pressure bond issuance, adversely affecting the largest profit driver, the ratings business.

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News

Trading Information

Previous Close Price
$473.22
Day Range
$474.00481.17
52-Week Range
$340.49481.17
Bid/Ask
$476.98 / $499.00
Market Cap
$149.67 Bil
Volume/Avg
1.4 Mil / 1.2 Mil

Key Statistics

Price/Earnings (Normalized)
35.71
Price/Sales
11.82
Dividend Yield (Trailing)
0.76%
Dividend Yield (Forward)
0.76%
Total Yield
2.96%

Company Profile

S&P Global provides data and benchmarks to capital and commodity market participants. Its ratings business is the largest credit rating agency in the world and S&P's largest segment by profitability. S&P's largest segment by revenue is market intelligence, which provides desktop, data and advisory solutions, enterprise solutions, and credit/risk solutions mostly in the financial-services industry. S&P’s other segments include commodity insights (Platts and other data), mobility (Carfax), and indexes.
Sector
Financial Services
Industry
Financial Data & Stock Exchanges
Stock Style Box
Large Growth
Total Number of Employees
40,450

Competitors

Valuation

Metric
SPGI
MCO
MSCI
Price/Earnings (Normalized)
35.7143.3436.09
Price/Book Value
4.3922.78
Price/Sales
11.8213.1615.27
Price/Cash Flow
33.0033.7231.58
Price/Earnings
SPGI
MCO
MSCI

Financial Strength

Metric
SPGI
MCO
MSCI
Quick Ratio
0.771.310.92
Current Ratio
0.921.421.00
Interest Coverage
13.087.248.26
Quick Ratio
SPGI
MCO
MSCI

Profitability

Metric
SPGI
MCO
MSCI
Return on Assets (Normalized)
7.01%12.90%21.55%
Return on Equity (Normalized)
12.14%58.63%
Return on Invested Capital (Normalized)
8.87%19.20%33.21%
Return on Assets
SPGI
MCO
MSCI
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