Track market-moving stories before they get noisy

S&P Global is a leaner, higher-margin, and likely higher-growth company post-Mobility spin-off. Ratings and Indices segments are benefiting from robust issuance, record ETF inflows, and index performance, driving expected Q2 acceleration. My Q2 revenue growth estimate of 11.7% outpaces consensus.

Key Takeaways SPGI is expected to report Q2 EPS of $4.49, up 1.4% y/y, before market open on July 28. S&P Global's ratings and indices revenues are projected to rise on debt activity and asset-linked fees. SPGI's market intelligence and mobility units are expected to benefit from AI, M&A and subscriptions. S&P Global Inc. (SPGI - Free Report) is scheduled to release second-quarter 2026 results on July 28, before market open.

SPGI has a decent history of earnings surprises, having surpassed the Zacks Consensus Estimate in the past three trailing quarters and missing once, with an average surprise of 3.6%.

S&P Global’s Q2 ExpectationsThe Zacks Consensus Estimate for revenue is pegged at $3.7 billion, indicating a 2.9% decline from the year-ago quarter’s actual.

The consensus mark for revenues from market intelligence is close to $1.3 billion, which is indicated to improve 3.6% year over year. Growth in this segment is likely to have been attributed to product strength, fast-paced AI integration, strategic M&A, and robust commercial sales. Strong renewals and net sales across the franchise are anticipated to have driven subscription revenues. The With Intelligence buyout is expected to have provided a continued impetus to the segment’s growth.

For ratings, the Zacks Consensus Estimate for revenues is set at $1.3 billion, a 14.4% jump from the year-ago actuals. Expansion in transactional and non-transactional revenues is anticipated to have improved this segment’s growth. Transactional revenues are likely to have been supported by rising billed issuance, driven by solid investment-grade debt activity. Higher annual fees and strong CRISIL performance are relevant factors expected to have improved non-transactional revenues.

The Zacks Consensus Estimate for mobility revenues is set at $473 million, up 8% year over year. Solid subscription momentum, coupled with customer wins across CARFAX and automotiveMastermind, is expected to have supported this segment’s growth. Momentum in subscription adoption and discretionary spending is likely to have aided manufacturing revenues, adding to the segment’s growth.

The consensus mark for revenues from indices is pinned at $534.8 million. It is anticipated to improve 19.9% year over year. Asset-linked fees and consistent net inflows into the S&P 500 are expected to have been the primary factors improving the segment’s revenues. Other factors, including high trading volumes, innovation in decentralized finance and robust business demand in data and custom subscriptions, are likely to have contributed to growth.

The consensus estimate for earnings per share is set at $4.49, indicating a 1.4% increase on a year-over-year basis.

What Our Model Predicts About SPGIOur proven model does not conclusively predict an earnings beat for S&P Global this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here. You can uncover the best stocks before they are reported with our Earnings ESP Filter.

SPGI has an Earnings ESP of 0.00% and a Zacks Rank of 5 (Strong Sell).

Stocks to ConsiderHere are a few stocks that, according to our model, have the right combination of elements to beat on earnings this time around.

Chatham Lodging Trust (CLDT - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is $86.9 million, suggesting an 8.2% year-over-year rise. For earnings, the consensus estimate is kept at 45 cents per share, indicating a 25% uptick from the year-ago quarter’s actual. The company beat the consensus estimate in the trailing four quarters, with an average surprise of 15.6%.

CLDT has an Earnings ESP of +2.22% and sports a Zacks Rank of 1 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The company is scheduled to declare second-quarter 2026 results on Aug. 4.

Apple Hospitality REIT (APLE - Free Report) : The Zacks Consensus Estimate for the company’s second-quarter 2026 revenues is pegged at $393.7 million, indicating year-over-year growth of 2.4%. For earnings, the consensus estimate is 49 cents, suggesting a 4.3% gain from the year-ago quarter’s reported figure. The company beat the consensus estimate in the trailing quarters, with an average of 4.5%.

APLE has an Earnings ESP of +2.04% and a Zacks Rank of 1 at present. The company is scheduled to declare second-quarter 2026 results on Aug. 5.

Sarah James
Research Analyst

Hello, everyone, and welcome to today's webinar. My name is Sarah James, and I lead the Tech, Media & Telecoms News team at S&P Global Market Intelligence. I'm thrilled to be your moderator for today's session titled GenAI Fundraising From Private Rounds to Public Markets.

Today, we are going to talk about both the record amount of fundraising we saw in the first half of 2026 and why GenAI companies are now turning their eyes to public markets. Before we dive in, I have a few housekeeping reminders. All engagement tools are resizable and movable, so feel free to adjust them for optimal viewing on your monitor. We want this to be an interactive session. While we may not be in the same room, your participation is key to making this experience engaging.

We encourage you to submit your questions throughout the presentation. [Operator Instructions]

If you're joining us for the replay, please use the request demo link found under the related content widget to reach out to us. This widget also includes links to our thought leadership resources. You can also access our webinar replay portal to revisit the session and others on demand.

This webinar features close captioning in English. To activate it, simply click the CC icon in the media player. And at the conclusion of the session, a brief survey will appear. Completing it takes less than a minute and your feedback is invaluable to us. It helps us understand what aspects of the webinar you found engaging, identify areas for improvement and gather suggestions for

S&P Global (SPGI - Free Report) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.

The earnings report, which is expected to be released on July 28, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis independent ratings and analytics provider is expected to post quarterly earnings of $4.44 per share in its upcoming report, which represents a year-over-year change of +0.2%.

Revenues are expected to be $3.65 billion, down 2.8% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 6.54% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for S&P Global?For S&P Global, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.

On the other hand, the stock currently carries a Zacks Rank of #5.

So, this combination makes it difficult to conclusively predict that S&P Global will beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that S&P Global would post earnings of $4.82 per share when it actually produced earnings of $4.97, delivering a surprise of +3.11%.

Over the last four quarters, the company has beaten consensus EPS estimates three times.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

S&P Global doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Expected Results of an Industry PlayerAmong the stocks in the Zacks Securities and Exchanges industry, Nasdaq (NDAQ - Free Report) , is soon expected to post earnings of $0.98 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +15.3%. This quarter's revenue is expected to be $1.44 billion, up 10.6% from the year-ago quarter.

Over the last 30 days, the consensus EPS estimate for Nasdaq has been revised 1.6% up to the current level. Nevertheless, the company now has an Earnings ESP of +0.14%, reflecting a higher Most Accurate Estimate.

This Earnings ESP, combined with its Zacks Rank #3 (Hold), suggests that Nasdaq will most likely beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Baader Bank Aktiengesellschaft reduced its stake in S&P Global Inc. (NYSE:SPGI – Free Report) by 47.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,044 shares of the business services provider’s stock after selling 2,719 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in S&P Global were worth $1,295,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SPGI. Norges Bank bought a new stake in S&P Global in the fourth quarter worth $2,398,991,000. Cardano Risk Management B.V. raised its position in shares of S&P Global by 858.3% in the 4th quarter. Cardano Risk Management B.V. now owns 1,760,230 shares of the business services provider’s stock worth $919,879,000 after purchasing an additional 1,576,544 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in S&P Global by 2,256.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,446,633 shares of the business services provider’s stock worth $755,996,000 after purchasing an additional 1,385,249 shares in the last quarter. Capital International Investors grew its position in S&P Global by 43.6% during the 4th quarter. Capital International Investors now owns 3,037,912 shares of the business services provider’s stock valued at $1,587,910,000 after purchasing an additional 922,433 shares during the last quarter. Finally, TCI Fund Management Ltd. increased its stake in S&P Global by 5.4% during the 4th quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider’s stock valued at $6,161,498,000 after purchasing an additional 600,440 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

S&P Global Stock Performance Shares of SPGI stock opened at $448.52 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $421.91 and a 200-day moving average price of $444.17. S&P Global Inc. has a 52 week low of $381.61 and a 52 week high of $579.05. The firm has a market capitalization of $132.76 billion, a PE ratio of 28.39, a P/E/G ratio of 2.18 and a beta of 1.08.

S&P Global (NYSE:SPGI – Get Free Report) last issued its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.15. The company had revenue of $4.17 billion for the quarter, compared to analysts’ expectations of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company posted $4.37 earnings per share. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. As a group, equities research analysts expect that S&P Global Inc. will post 19.32 earnings per share for the current year.

S&P Global Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued a $0.97 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.88 annualized dividend and a dividend yield of 0.9%. S&P Global’s payout ratio is presently 24.56%.

Analysts Set New Price Targets SPGI has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of S&P Global from $539.00 to $490.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Stifel Nicolaus raised their price target on shares of S&P Global from $489.00 to $521.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets boosted their price objective on shares of S&P Global from $495.00 to $505.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Mizuho upped their price objective on S&P Global from $551.00 to $554.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Royal Bank Of Canada cut their target price on S&P Global from $560.00 to $510.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 7th. Seventeen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $535.06.

Read Our Latest Analysis on SPGI

Insider Activity at S&P Global In other news, CEO Catherine R. Clay purchased 2,500 shares of the business’s stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $431.39 per share, for a total transaction of $1,078,475.00. Following the purchase, the chief executive officer directly owned 2,500 shares in the company, valued at $1,078,475. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz purchased 1,152 shares of S&P Global stock in a transaction dated Thursday, April 30th. The shares were acquired at an average cost of $434.03 per share, with a total value of $500,002.56. Following the transaction, the director directly owned 1,152 shares in the company, valued at approximately $500,002.56. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 5,974 shares of company stock worth $2,576,775. 0.03% of the stock is owned by insiders.

More S&P Global News Here are the key news stories impacting S&P Global this week:

Positive Sentiment: JPMorgan Chase & Co. raised its price target on S&P Global to $555 from $535 and reiterated an overweight rating, signaling confidence in roughly 24% upside from the current share price. Benzinga article Positive Sentiment: Wells Fargo maintained its buy rating on S&P Global, and other market commentary highlighted the stock as one of the more attractive large-cap financial names. Wells Fargo article Positive Sentiment: Stifel Nicolaus said S&P Global’s stock price is expected to rise, adding to the recent stream of bullish analyst sentiment. Stifel article Neutral Sentiment: Investor discussion has also been favorable, with value-investing communities arguing that S&P Global may be a better buy than SpaceX; however, this is more sentiment-driven than a direct business catalyst. Insider Monkey article Negative Sentiment: Erste Group Bank cut its FY2027 EPS estimates for S&P Global, which could pressure expectations for future earnings growth. American Banking News article Negative Sentiment: Another Erste Group note also pointed to reduced earnings expectations for the company, reinforcing concerns around longer-term profit outlook. American Banking News article About S&P Global (Free Report)

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

Featured Stories Five stocks we like better than S&P Global The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence Is Domino’s Stock Serving Up a Buying Opportunity? A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free Why Gold Miners Could Be the Market’s Biggest Comeback Story

Receive News & Ratings for S&P Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P Global and related companies with MarketBeat.com's FREE daily email newsletter.

Moody's (MCO 1.01%), one of the largest providers of financial data, analytics, and credit rating services in the U.S., is often considered an evergreen stock. It shares a near-duopoly in the financial data market with S&P Global (SPGI 1.43%), and both companies serve a broad range of businesses and financial institutions.

However, Moody's stock has stayed nearly flat year to date, underperforming the S&P 500's 9% gain. It also looks historically expensive at 37 times its trailing earnings, while the S&P 500 trades at 32 times earnings. Should you still invest in Moody's before its second-quarter earnings report on July 22, or should you wait for it to cool off to more reasonable valuations?

Image source: Getty Images.

What is Moody's stock treading water? Moody's usually thrives in bull and bear markets, since its customers will use its services to make informed financial decisions regardless of the market's overall direction. In 2022 and 2023, rising interest rates curbed demand for its credit rating services, which are used to approve new debt offerings, but that business recovered as interest rates fell in 2024 and 2025.

Moody's has also been upgrading its platform with new AI features to process its financial data more efficiently and widen its moat against AI-powered challengers. It's also integrating those services into Amazon Web Services (AWS) and Microsoft's Copilot to keep pace with the shift toward cloud and AI services.

Today's Change

(

-1.01

%) $

-5.15

Current Price

$

505.71

For 2026, Moody's expects its revenue to grow by the high single digits, its adjusted operating margin to expand from 51.1% in 2025 to 52%-53%, and for its adjusted EPS to rise 10%-14%. It also aims to allocate most of its free cash flow (FCF) of $2.8-$3.0 billion toward $2.5 billion in buybacks (equivalent to nearly 3% of its market cap of $89.2 billion).

That outlook is bright, but two major issues are weighing down its stock. First, many analysts expect interest rate hikes in the second half of 2026 if inflation doesn't cool down. That pressure could impact its rating services for new debt issuances. Second, the market's enthusiasm for its AI initiatives -- along with its rosy guidance for the rest of the year -- inflated its valuations. Rising interest rates could compress those valuations and drive investors toward cheaper stocks.

Should you buy Moody's before its next earnings report? Moody's is still a solid long-term investment, but I wouldn't rush to buy it before its next earnings report. I'd wait to see what it says about the current macro environment, the monetization of its AI integrations, and its full-year guidance before assuming that it will regain its mojo in the second half of the year.

Leo Sun has positions in Amazon. The Motley Fool has positions in and recommends Amazon, Microsoft, Moody's, and S&P Global. The Motley Fool has a disclosure policy.

Allspring Global Investments Holdings LLC trimmed its stake in shares of S&P Global Inc. (NYSE:SPGI – Free Report) by 19.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,654 shares of the business services provider’s stock after selling 50,037 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of S&P Global worth $90,839,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of S&P Global during the fourth quarter worth approximately $2,398,991,000. Cardano Risk Management B.V. lifted its holdings in shares of S&P Global by 858.3% during the fourth quarter. Cardano Risk Management B.V. now owns 1,760,230 shares of the business services provider’s stock worth $919,879,000 after buying an additional 1,576,544 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of S&P Global by 2,256.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,446,633 shares of the business services provider’s stock valued at $755,996,000 after acquiring an additional 1,385,249 shares during the period. Capital International Investors boosted its position in shares of S&P Global by 43.6% in the fourth quarter. Capital International Investors now owns 3,037,912 shares of the business services provider’s stock valued at $1,587,910,000 after acquiring an additional 922,433 shares during the period. Finally, TCI Fund Management Ltd. grew its stake in shares of S&P Global by 5.4% in the fourth quarter. TCI Fund Management Ltd. now owns 11,790,310 shares of the business services provider’s stock valued at $6,161,498,000 after acquiring an additional 600,440 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at S&P Global In related news, CEO Martina Cheung acquired 2,322 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were bought at an average cost of $429.93 per share, with a total value of $998,297.46. Following the completion of the purchase, the chief executive officer directly owned 27,518 shares in the company, valued at $11,830,813.74. The trade was a 9.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Catherine R. Clay bought 2,500 shares of S&P Global stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $431.39 per share, for a total transaction of $1,078,475.00. Following the completion of the acquisition, the chief executive officer directly owned 2,500 shares of the company’s stock, valued at $1,078,475. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 5,974 shares of company stock worth $2,576,775 over the last three months. Company insiders own 0.03% of the company’s stock.

Key Stories Impacting S&P Global Here are the key news stories impacting S&P Global this week:

Positive Sentiment: Stifel Nicolaus raised its price target on S&P Global to $521 from $489 and kept a buy rating, implying roughly 15.6% upside from the current share price. Benzinga Street Insider Positive Sentiment: S&P Global Energy said booming U.S. LNG exports could add $1.4 trillion to GDP through 2040 and support hundreds of thousands of jobs, reinforcing the company’s research and energy-market credibility. Reuters Positive Sentiment: S&P Global Market Intelligence launched ETF Intelligence, a new analytics product aimed at the fast-growing ETF market, which could help expand data and subscription revenue over time. PR Newswire Neutral Sentiment: Erste Group Bank lowered its FY2026 EPS estimate for S&P Global to $18.60 from $19.62, which is below the current consensus estimate of $19.49 and may temper expectations. MarketBeat Neutral Sentiment: Separate commentary flagged the stock as expensive on fair value and earnings, suggesting valuation remains a concern for some investors. Yahoo Finance Negative Sentiment: One market report said S&P Global underperformed peers on Wednesday, indicating some relative weakness versus competitors. MarketWatch Wall Street Analyst Weigh In A number of research firms recently commented on SPGI. Morgan Stanley lowered their price target on shares of S&P Global from $557.00 to $525.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Daiwa Securities Group cut their price objective on shares of S&P Global from $490.00 to $485.00 and set an “outperform” rating for the company in a report on Wednesday, May 20th. Royal Bank Of Canada decreased their target price on shares of S&P Global from $560.00 to $510.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 7th. Rothschild & Co Redburn lowered their target price on shares of S&P Global from $540.00 to $520.00 and set a “buy” rating on the stock in a report on Thursday, June 18th. Finally, The Goldman Sachs Group dropped their price target on shares of S&P Global from $539.00 to $490.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Seventeen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and an average price target of $533.88.

Get Our Latest Report on SPGI

S&P Global Stock Performance S&P Global stock opened at $450.57 on Friday. The business has a 50 day moving average of $421.35 and a 200-day moving average of $445.32. The company has a market capitalization of $133.37 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.21 and a beta of 1.08. S&P Global Inc. has a 1 year low of $381.61 and a 1 year high of $579.05. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.68 and a quick ratio of 0.68.

S&P Global (NYSE:SPGI – Get Free Report) last posted its earnings results on Tuesday, April 28th. The business services provider reported $4.97 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $0.15. The firm had revenue of $4.17 billion for the quarter, compared to analyst estimates of $4.08 billion. S&P Global had a net margin of 30.37% and a return on equity of 17.26%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.37 EPS. S&P Global has set its FY 2026 guidance at 19.400-19.650 EPS. On average, equities research analysts predict that S&P Global Inc. will post 19.32 earnings per share for the current year.

S&P Global Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued a $0.97 dividend. This represents a $3.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, August 26th. S&P Global’s dividend payout ratio is presently 24.56%.

S&P Global Profile (Free Report)

S&P Global is a leading provider of financial information, analytics and benchmark indices that serve investors, issuers, corporations and public institutions worldwide. The company operates through well-known businesses that include credit ratings, market intelligence and index licensing, as well as commodity and energy information services. Its products and services are used to assess creditworthiness, inform investment decisions, construct and track benchmark portfolios, and support risk and commodity market analysis.

S&P Global Ratings provides independent credit ratings, research and data used by fixed income investors and capital market participants to evaluate issuer and transaction risk.

Featured Stories Five stocks we like better than S&P Global AST SpaceMobile Stock Sinks as SpaceX Fallout Rattles Space Sector Aehr Test Systems Stock Soars on Earnings, Eyes Over 150% Revenue Growth TSMC Just Gave AI Chip Bulls Another Reason to Stay Confident GE Aerospace Faces a Prove-It Moment in Q2 Earnings Want to see what other hedge funds are holding SPGI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for S&P Global Inc. (NYSE:SPGI – Free Report).

Receive News & Ratings for S&P Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P Global and related companies with MarketBeat.com's FREE daily email newsletter.

It's official. As of the beginning of this month, S&P Global (SPGI 1.57%) is a smaller but more focused company, having shed the least impactful of its businesses. That's S&P Global Mobility, now called Mobility Global (MBGL 2.81%). It is the arm that offers market intelligence to the automobile industry; it also owns and operates consumer-facing CarFax.

So how does this change things for investors? Fortunately, this is a very clean break, as S&P Global Mobility was already operating -- and being reported -- independently.

A simple before and after First and foremost, yes, S&P Global is the company you may know better as Standard & Poor's, which licenses the S&P 500 index along with several other market barometers. That's not its biggest business, though. Its big breadwinners are market intelligence and ratings. Its ratings arm grades the quality of bonds and other fixed-income instruments, while its market intelligence division provides research on individual stocks and marketwide insights. If you've ever bought a stock or a bond in a brokerage account, you've almost certainly been exposed to one of its products.

So what does the company look like now, without mobility in the mix? As was noted, it's a clean break. The graphic below illustrates how much revenue and operating profit each of its businesses generated last year. Simply subtracting the mobility numbers from the mix below and then adding about 10% growth to the remaining figures will give you a pretty good idea of what to expect this year.

Data source: S&P Global 2025 report. Chart by author.

The energy arm is exactly what it sounds like -- a market data and strategic intelligence service aimed specifically at the oil and gas industry, although increasingly, all aspects of power production. While this may seem like as much of a misfit as mobility was, this data and the energy division's delivery platforms actually dovetail pretty nicely into everything else S&P Global does.

Looking ahead On the surface, the change looks mathematically simple. There are some measurable upsides that aren't readily evident with just a quick review of the numbers, though.

One of these upsides is that, while it was the company's smallest business, mobility was also one of S&P Global's lowest-margin operations, with 2025 operating margins of less than 22% versus a companywide average of more than 40%. Without it, the organization will sport slightly higher profit margins.

Image source: Getty Images.

The other big upside is the aforementioned focus. Although the company managed it well enough, its mobility arm required resources and attention that could be better utilized in other ways. With this business no longer a strategic concern, management can focus on making the most of its core strengths.

Whatever the case, S&P Global's first quarterly earnings report without mobility is coming on July 28. We might get some more insights about the company's post-spinoff plans then, and we'll certainly get our first look at the new fiscal numbers without this division in tow.

In the meantime, this powerhouse dividend payer's 53-year streak of annual dividend growth remains intact, with no threats to it on the horizon.

Growth of U.S. LNG exports now expected to support 555,000 jobs annually and add $1.4 trillion to GDP through 2040 while domestic natural gas prices will remain among lowest in the world

, /PRNewswire/ -- Growing exports of U.S. liquefied natural gas (LNG) are now on track to support 550,000 jobs annually and contribute $1.4 trillion to U.S. gross domestic product through 2040—exceeding previous expectations—while having a negligible impact on domestic gas prices, according to a comprehensive new study by S&P Global Energy.

The new study projects that, under current conditions, U.S. feedgas demand for LNG exports will double to 36 billion cubic feet per day (bcf/d) in the next five years, 25% higher than previous base case projections. The United States, already the world's leading supplier of LNG, is expected to surpass a one-third share of the global market during this time, almost certainly making LNG exports the second largest net export industry in the United States, second only to U.S. civilian aircraft and parts.

The study, Price and Economic Impacts of an Accelerating Export Industry updates the findings of a December 2024 study to account for a surge in LNG investment that has occurred since the lifting of the U.S. LNG 'pause' in January 2025, with seven new projects taking final investment decision and several more expected in the next 6-12 months.

S&P Global Energy now estimates that total investment in the LNG supply chain will exceed $1 trillion through 2040. In addition to the increased jobs and GDP gains, the new study expects future LNG export activity to generate more than $2.9 trillion in total revenues for U.S. businesses, $206 billion in federal and state tax revenues and nearly $630 billion in labor income.

The economic impacts extend far beyond gas-producing states, with 42% of jobs and 33% of GDP contributions occurring in non-gas-producing areas.

"The profound growth of U.S. LNG is exceeding all expectations," said Daniel Yergin, Vice Chairman, S&P Global and study chair. "What has become a $44 billion annual industry in just the last decade is now poised to be the country's second largest net export within five years.

"The economic gains in terms of jobs, GDP and labor income are on track to surpass all prior expectations, while the abundance of U.S. gas resources means that domestic prices remain among the lowest in the world. The economic benefits and low domestic prices, along with significant contributions to global energy security and the influence that comes from being the world's largest supplier add up to the benefit of the United States." 

Impact on Domestic Prices Negligible

Notably, the economic benefits occur while the impact on U.S. domestic natural gas prices is negligible. The study projects an average increase in end user gas costs of just 1.6% per household from 2026 to 2031. United States domestic natural gas prices will continue to rank among the lowest in the world for both residential and industrial sectors.

"More than 45 years of identified commercial gas resource in the United States at today's production levels and the world's most interconnected pipeline network are what enable both exports and low domestic prices," said Eric Eyberg, Vice President, Gas and LNG, S&P Global Energy. "Since 2010, domestic prices have trended downward even as demand for U.S. gas has grown 70 percent. The recent Iran conflict has proven the U.S. domestic gas market resilient to external shocks relative to global gas and other commodities. U.S. Henry Hub gas prices declined during the conflict."

Additionally, flexible U.S. LNG has turned export capacity into a domestic gas price shock absorber, the study says. During Winter Storm Fern, up to 9 bcf/d of feedgas was redirected for domestic consumption, providing critical supply for residential markets amid surging winter heating demand.

Major Implications for Global Gas Prices and Energy Security

The study also considered the implications of any curtailment of export volumes from U.S. LNG projects sanctioned post-U.S. LNG 'pause'.

Under an "Extended Pause" scenario where the new investment since 2025 in U.S. export capacity was not realized, global LNG markets would tighten significantly by 2031, pushing prices 50% higher for Europe and Asia and effectively transferring up to $76 billion per year to non-U.S. energy suppliers that would step in to fill demand, mostly with other fossil fuels, including coal, the study says.

As the United States is currently the number one supplier of LNG to Europe, the largest beneficiary of any curtailment of U.S. flows would be Russia, the study says. Due to current sanctions, Russia has up to 14 bcf/d of underutilized gas pipeline and LNG export infrastructure – connected with and proximate to Europe – that could quickly increase flows to meet regional needs.  

The Role of Infrastructure in Domestic Price Relief

The shale gas revolution and abundance of the U.S. natural gas resource base have shifted the domestic market dynamic to a new paradigm where infrastructure constraints are often the key driver of higher-priced regional markets and price volatility, the study says.

The United States has the world's most interconnected gas infrastructure network, with more than 300,000 miles of natural gas transmission pipelines. The annual volume of natural gas transported through the system exceeds the combined consumption of 130 countries. Nevertheless, key bottlenecks remain.

The study examines the potential impact of expanded pipeline capacity in the U.S. Northeast, where winter heating and growing winter power loads have led to highly seasonal demand and extreme price volatility.

New capacity additions could reduce peak winter month gas prices by more than 20% in key New England and New York markets during the 2028-2031 period, the study finds.

"The United States is in the enviable position where supply and demand are not a major issue," Eyberg said. "Since 2010, domestic gas production has been able to grow three times the amount of U.S. LNG exports. Infrastructure constraints and imbalances are what drive higher regional prices and volatility. The ability to build pipelines is the main challenge."

U.S. LNG Exports Today

$44 billion in 2025 exports 2.3 times the value of U.S. corn exports 2.8 times the value of U.S. soybean exports Nearly triple the exports value of U.S. movie and TV related revenues 70% the value of U.S. semiconductor exports More than 80% of the total value of U.S. passenger cars exports. U.S. LNG Exports – Base Case Economic Impacts Through 2040
(Change from December 2024 Projections)

555,000 annual jobs supported through 2040 (+55,000 jobs annually) $1.4 trillion contribution to U.S. gross domestic product (+$100 billion) $2.9 trillion total business revenues through 2040 (+$400 billion) $206 billion in U.S. federal and state taxes (+$40 billion) $630 billion in labor income (+$130 billion) Projected second largest U.S. net export industry by 2031 About the Study:

Price and Economic Impacts of an Accelerating Export Industry is available at: https://www.spglobal.com/en/research-insights/special-reports/price-and-economic-impacts-of-an-accelerating-export-industry-us-lng-impact-study-phase-4.html

This study offers an independent and objective assessment of the economic, market and global impact of the U.S. LNG Industry built from a detailed bottom-up approach, at the asset and market level, technology by technology. It is produced by S&P Global CERA Consulting and represents the collaboration of S&P Global Energy and S&P Global Market Intelligence, supported by the world's largest expert team of more than 1,400 energy and economic research analysts and consultants continuously monitoring, modelling and evaluating markets and assets. The analysis and metrics developed during the course of this research represent the independent analysis and views of S&P Global Energy. The study makes no policy recommendations. This research was supported by the U.S. Chamber of Commerce.

S&P Global Energy is exclusively responsible for all of the analysis, content and conclusions of the study.

About S&P Global Energy

At S&P Global Energy, our comprehensive view of global energy and commodities markets enables our customers to make superior decisions and create long-term, sustainable value. Our four core capabilities are: Platts for pricing and news; CERA for research and advisory; Horizons for energy expansion and sustainability solutions; and Events for industry collaboration.

S&P Global Energy is a division of S&P Global (NYSE: SPGI). S&P Global enables businesses, governments, and individuals with trusted data, expertise, and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive in a rapidly changing global landscape. Learn more at www.spglobal.com/energy.

Media Contacts:

Jeff Marn
S&P Global Energy
+1 202 463 8213
[email protected]

SOURCE S&P Global Energy

HomeStock IdeasLong IdeasFinancials 

SummaryS&P Global is now a leaner, post-spin company focused on Ratings, Indices, Energy, and Market Intelligence.SPGI targets margin expansion, driven by higher-than-expected debt issuance and surging API call volumes linked to AI adoption.API usage is scaling non-linearly, signaling a structural shift to programmatic data consumption and potentially stickier, higher-growth revenues.I remain bullish on SPGI, raising my FY27 EPS estimate and setting a $500 price target, implying 15% upside.Looking for more investing ideas like this one? Get them exclusively at iREIT®+HOYA Capital. Learn More » pichet_w/iStock via Getty Images

Introduction S&P Global (SPGI) completed the Mobility Global (MBGL) spin-off on July 1, and a few days later, the leaner SPGI published the pro forma FY25 results ex-Mobility.

We just analyzed Mobility Global and ended up stating that it is

7.93K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of SPGI, MBGL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

, /PRNewswire/ -- Solaris Energy Infrastructure Inc. (NYSE: SEI) will replace Catalyst Pharmaceuticals Inc. (NASD: CPRX) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, July 15. Angelini Pharma S.p.A. is acquiring Catalyst Pharmaceuticals in a deal expected to close soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date

Index Name      

Action

Company Name

Ticker

GICS Sector

July 15, 2026

S&P SmallCap 600

Addition

Solaris Energy Infrastructure

SEI

Energy

July 15, 2026

S&P SmallCap 600

Deletion

Catalyst Pharmaceuticals

CPRX

Health Care

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.

FOR MORE INFORMATION:

S&P Dow Jones Indices
[email protected]

Media Inquiries
[email protected]

SOURCE S&P Dow Jones Indices

Jefferies recommends owning quality, low-stress stocks to ride out the summer as markets become more volatile amid increased concerns tied to investment in artificial intelligence.

AI-related questions range from potential overcapacity, the profits that will result from hyperscalers investing an estimated $700 billion in capital spending and rising costs for tokens, the fees paid to AI models, according to a note from Desh Peramunetilleke, head of quantitative strategy at Jefferies. 

As evidence of the popularity of all things AI, the S&P 500 momentum index has outperformed the broader stock market by more than 70% since 2024, close to levels seen during the dot-com run of the 1990s. Before the outbreak of war with Iran, momentum strategies had included materials and defense stocks, but currently AI alone is carrying the ball, "increasing the risk of an unwind on adverse sentiment," the strategist wrote Monday.

"While we still see the theme as a long-term winner, the above reasons could drive an unwinding of the AI-led momentum," Peramunetilleke said.

Peramunetilleke and his team recommended a list of what they call high-quality companies with low momentum to ride out any potential AI-led storms.

Jefferies looked for companies with a high quality score, market values of more than $10 billion, solid fundamentals and long-term free cash flow yields above 3%. The group also had to include stocks with limited momentum and attractive valuations selling for less than 20 times expected earnings over the next year.

Here are 10 stocks from Jefferies' list:

Source: Jefferies

Drugmaker AbbVie scored a top quality score from Jefferies, which sees the company delivering compound annual earnings growth of nearly 28% in 2026-2027, with a free cash flow yield of 5.2%, one of the stronger growth and cash flow combinations on the list.

AbbVie in its first-quarter financial reported $15 billion in worldwide net revenues, driven largely by a $7.3 billion immunology portfolio. Last week, AbbVie strengthened its next-gen immunology pipeline after agreeing to buy Apogee Therapeutics for $10.9 billion, its largest acquisition in more than five years.

Chicago-based AbbVie is set to release second-quarter results on July 31. The stock has climbed 25% in the past three months, 37% in the past year and yield 2.7%, based on FactSet data.

Netflix, with a $320 billion market value and a 3.6% free cash flow yield, also shared a high quality score in Jefferies' model. The dominant streaming platform forecast second-quarter revenue growth of 13% despite warning that content spending would be weighted in the first half of the year due to the timing of title launches. 

The streaming giant's shares fell 10% in mid-April when second-quarter guidance fell short of Wall Street expectations and it left full-year forecasts unchanged.  

Netflix is set to release second-quarter results on July 16. The stock is down 18% in 2026 so far and almost 41% lower over the past 12 months.

Other companies on Jefferies' quality, low-stress screen include Lowe's Companies, McDonald's and American Express.

New reported business lines for Energy and Market Intelligence Updated allocated expenses and margins for the enterprise and all four divisions 2026 guidance reflecting the spin-off of Mobility to be provided with 2Q 2026 Earnings on July 28 NEW YORK, July 6, 2026 /PRNewswire/ -- S&P Global (NYSE: SPGI) is providing recast financial results, excluding the contribution from the Mobility division ("Mobility"). In a previous release dated July 1, 2026, the Company announced the successful completion of the spin of Mobility into an independent, public company – Mobility Global (NYSE: MBGL).

6.7.2026 08:20

Německo:

08:00 Podnikové objednávky (m-m) (květen): očekávání trhu: 0,01, předchozí hodnota: -3,8 %

08:00 Podnikové objednávky (y-y) (očištěno o počet pracovních dní) (květen): očekávání trhu: 3,7 %, předchozí hodnota: 1,6 %

Eurozóna:

10:30 Index investorské důvěry Sentix (červenec): očekávání trhu: -7,5, předchozí hodnota: -13,4

11:00 PPI (m-m) (květen): očekávání trhu: 0,3 %, předchozí hodnota: 0,6 %

11:00 PPI (y-y) (květen): očekávání trhu: 5,7 %, předchozí hodnota: 4,9 %

11:00 Maloobchodní tržby (m-m) (květen): očekávání trhu: 0,3 %, předchozí hodnota: -0,4 %

11:00 Maloobchodní tržby (y-y) (květen): očekávání trhu: 1,6 %, předchozí hodnota: 0,01

USA:

15:45 Index nákupních manažerů PMI ve službách (S&P Global) (červen - konečný): očekávání trhu: 51,3, předchozí hodnota: 51,3

15:45 Index nákupních manažerů PMI - kompozitní (S&P Global) (červen - konečný): očekávání trhu: --, předchozí hodnota: 52,2

Marek Kameništiak
Fio banka, a.s.
Prohlášení

As of Wednesday, S&P Global (SPGI +7.99%) is now -- theoretically at least -- a leaner and more efficient company. The financial information and data specialist's equity rose by nearly 8% on Hump Day after it completed a corporate spinoff; an analyst's upgrade also helped lift the share price.

Going mobile That morning, S&P Global -- best known for managing the S&P family of stock indexes -- completed the spinoff of its automotive data and analysis unit, Mobility Global, into a separate, publicly traded company.

Image source: Getty Images.

This completes a process that was announced in early 2025. Existing S&P Global stockholders as of June 15 received one Mobility Global share for each share of S&P Global they held.

In the announcement heralding this development, S&P Global said it aims to issue a press release on Monday, July 6, providing recast financial information for its operations minus the Mobility Global business. Data for all four quarters of 2025 and annual results for that year will be presented, as will the figures for the first quarter of this year.

Today's Change

(

7.99

%) $

30.76

Current Price

$

415.97

Separation anxiety? It appeared that the spinoff of Mobility Global (which owns the popular vehicle data service Carfax) was effected smoothly. Compounding this, Huber Research analyst Douglas Arthur upgraded his recommendation on S&P Global to neutral from underweight (i.e., sell).

Investors were underwhelmed by Mobility Global's stock market debut, as the shares sank by almost 4% on their first day of trading. I'd probably lean into a buy on weakness, given the strength of the Carfax brand and the company's uniqueness. As for S&P Global, it's a reliable performer that should be able to leverage its more compact scope.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends S&P Global. The Motley Fool has a disclosure policy.

, /PRNewswire/ -- S&P Global Inc. (NYSE: SPGI) announced today that it has completed the separation of its Mobility division into an independent, public company, Mobility Global Inc. ("Mobility Global"). Mobility Global common stock will begin regular-way trading today on the New York Stock Exchange under the ticker symbol "MBGL".

"The successful completion of this separation reflects the extraordinary work and dedication of the S&P Global and Mobility Global teams over the past 15 months," said Martina Cheung, President and CEO of S&P Global. "Together, we have built a strong foundation for Mobility Global as an independent company and both companies stand well-positioned for the future."

The separation was achieved through the distribution of 100 percent of the shares of Mobility Global to holders of S&P Global common stock effective as of 12:01 a.m. New York City time on July 1, 2026, with S&P Global stockholders receiving one share of Mobility Global common stock for every share of S&P Global common stock held at the close of business on June 15, 2026, the record date. S&P Global stockholders entitled to receive the distribution received a book-entry account statement or a credit to their brokerage account reflecting their ownership of Mobility Global common stock. Fractional shares of Mobility Global common stock were not distributed. Any fractional share of Mobility Global common stock otherwise issuable to a S&P Global stockholder will be sold in the open market on such stockholder's behalf, and such stockholder will receive a cash payment for the fractional share based on its pro rata portion of the net cash proceeds from all sales of fractional shares.

S&P Global expects to issue a press release on July 6, 2026 providing recast financial information for full year 2025, the four quarters of 2025 and the first quarter of 2026, reflecting the completion of the spin-off of Mobility Global.

Morgan Stanley & Co. LLC, Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Evercore Group L.L.C. served as financial advisors and Davis Polk & Wardwell LLP and Baker McKenzie LLP served as legal advisors to S&P Global.

About S&P Global

S&P Global (NYSE: SPGI) enables businesses, governments, and individuals with trusted data, expertise and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive in a rapidly changing global landscape.

From helping our customers assess new investments across the capital and commodities markets to navigating the energy expansion, acceleration of artificial intelligence, and evolution of public and private markets, we enable the world's leading organizations to unlock opportunities, solve challenges, and plan for tomorrow – today.

Forward-Looking Statements

This press release contains "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management's current views concerning future events, trends, contingencies or results, appear at various places in this press release and use words like "anticipate," "assume," "believe," "continue," "estimate," "expect," "forecast," "future," "intend," "plan," "potential," "predict," "project," "strategy," "target" and similar terms, and future or conditional tense verbs like "could," "may," "might," "should," "will" and "would." For example, management may use forward-looking statements when addressing topics such as: the outcome of contingencies; future actions by regulators; changes in the business strategies and methods of generating revenue of S&P Global Inc. (the "Company"); the development and performance of the Company's services and products; the expected impact of acquisitions and dispositions; and the Company's effective tax rates; the Company's cost structure, dividend policy, cash flows or liquidity.

Forward-looking statements are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements include, among other things:

worldwide economic, financial, political, and regulatory conditions (including slower GDP growth or recession, restrictions on trade (e.g., tariffs), instability in the banking sector and inflation), and factors that contribute to uncertainty and volatility (e.g., supply chain risk), geopolitical uncertainty (including military conflict), natural and man-made disasters, civil unrest, public health crises (e.g., pandemics), and conditions that result from legislative, regulatory, trade and policy changes, including from the U.S. administration; the volatility and health of debt, equity, commodities and energy markets, including credit quality and spreads, the composition and mix of credit maturity profiles, the level of liquidity and future debt issuances, equity flows from active to passive, fluctuations in average asset prices in global equities, demand for investment products that track indices and assessments and trading volumes of certain exchange traded derivatives; the demand and market for credit ratings in and across the sectors and geographies where the Company operates; the Company's ability to maintain adequate physical, technical and administrative safeguards to protect the security of confidential information and data, or protect against a system or network disruption that results in regulatory penalties and remedial costs or improper disclosure of confidential information or data; the outcome of litigation, government and regulatory proceedings, investigations and inquiries; concerns in the marketplace affecting the Company's credibility or otherwise affecting market perceptions of the integrity or utility of independent credit ratings, benchmarks, indices and other services; the level of merger and acquisition activity in the United States and abroad; the level of the Company's future cash flows and capital investments; the effect of competitive products (including those incorporating artificial intelligence ("AI")) and pricing, including the level of success of new product developments and global expansion; the impact of customer cost-cutting pressures; a decline in the demand for our products and services by our customers and other market participants; our ability to develop new products or technologies, to integrate our products with new technologies (e.g., AI), or to compete with new products or technologies offered by new or existing competitors; the introduction of competing products (including those developed by AI) or technologies by other companies; our ability to protect our intellectual property from unauthorized use and infringement, including by others using AI technologies, and to operate our business without violating third-party intellectual property rights, including through our own use of AI in our products and services; our ability to attract, incentivize and retain key employees, especially in a competitive business environment; our ability to successfully navigate key organizational changes; the continuously evolving regulatory environment in Europe, the United States and elsewhere around the globe affecting each of our businesses and the products they offer, and our compliance therewith; the Company's exposure to potential criminal sanctions or civil penalties for noncompliance with foreign and U.S. laws and regulations that are applicable in the jurisdictions in which it operates, including sanctions laws relating to countries such as Iran, Russia and Venezuela, anti-corruption laws such as the U.S. Foreign Corrupt Practices Act and the U.K. Bribery Act of 2010, and local laws prohibiting corrupt payments to government officials, as well as import and export restrictions; the Company's ability to make acquisitions and dispositions and successfully integrate the businesses we acquire; consolidation of the Company's customers, suppliers or competitors; the ability of the Company, and its third-party service providers, to maintain adequate physical and technological infrastructure; the Company's ability to successfully recover from a disaster or other business continuity problem, such as an earthquake, hurricane, flood, civil unrest, protests, military conflict, terrorist attack, outbreak of pandemic or contagious diseases, security breach, cyber attack, data breach, power loss, telecommunications failure or other natural or man-made event; the impact on the Company's revenue and net income caused by fluctuations in foreign currency exchange rates; the impact of changes in applicable tax or accounting requirements on the Company; the ability of the separation of Mobility Global to qualify for tax-free treatment for U.S. federal income tax purposes; any disruption to the Company's business in connection with the separation of Mobility Global; any loss of synergies from separating the businesses of Mobility Global and the Company that adversely impact the results of operations of both businesses, or the companies resulting from the separation of Mobility Global not realizing all of the expected benefits of the separation; and following the separation of Mobility Global, the combined value of the common stock of the two publicly-traded companies not being equal to or greater than the value of the Company's common stock had the separation not occurred. The factors noted above are not exhaustive. The Company and its subsidiaries operate in a dynamic business environment in which new risks emerge frequently. Accordingly, the Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the dates on which they are made. The Company undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date on which it is made, except as required by applicable law. Further information about the Company's businesses, including information about factors that could materially affect its results of operations and financial condition, is contained in the Company's filings with the SEC, including Item 1A, Risk Factors in our most recently filed Annual Report on Form 10-K.

Contacts:

S&P Global Investor Relations:
Mark Grant
Senior Vice President, Investor Relations and Treasurer
Tel: +1 (347) 640-1521
[email protected]m 

Media:
Christina Twomey
Chief Communications Officer, S&P Global
Tel: +1 (646) 407-3001
[email protected]

SOURCE S&P Global

The S&P Cotality Case-Shiller U.S. National Home Price NSA Index posted a 0.8% annual gain for April 2026, up from a 0.7% rise in the previous month. For the 11th consecutive month, U.S. home values fell in real terms, as April's 3.8% inflation ran roughly 3 percentage points above the 0.8% home price gain. A nearly 9 percentage-point gap separated April's strongest market (Chicago +6.5% YoY) and its weakest (Seattle -2.3%), underscoring a stark regional divergence in home price trends. , /PRNewswire/ -- S&P Dow Jones Indices (S&P DJI) today released the April 2026 results for the S&P Cotality Case-Shiller Indices.

More than 27 years of history are available for the data series and can be accessed in full by going to www.spglobal.com/spdji/en/index-family/indicators/sp-Cotality-case-shiller.

Cotality continues to have transaction delays from the recording office in Wayne County, the most populous county in the Detroit metro area. These delays impacted the April transaction data and, therefore, no valid April 2026 update of the Detroit S&P Cotality Case-Shiller Index will be provided for the June 30, 2026, release date. There was, however, enough data to calculate a valid March 2026 update, which is provided in Tables 2 and 3.

S&P DJI will continue to provide updates to the Detroit index values for the month(s) with missing sale transactions data.

ANALYSIS

"April's figures confirm that U.S. home prices remain essentially flat, with the S&P Cotality Case-Shiller National Home Price Index up a scant 0.8% year over year, just above March's 0.7% pace," said Nicholas Godec, CFA, CAIA, CIPM, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices. "With inflation accelerating to 3.8% in April, U.S. home values have now declined in real terms for an 11th straight month, further eroding inflation-adjusted housing wealth.

"Geographic dispersion remains pronounced," Godec continued. "Midwest and Northeast markets are still leading moderate growth, while many Sun Belt and Western metros see ongoing declines. Chicago was again the strongest market with a 6.5% annual gain, trailed by New York (3.8%) and Cleveland (3.2%). Seattle's 2.3% year-over-year drop was the steepest in April, with Denver (-1.8%), Tampa (-1.8%), Dallas (-1.6%), and Phoenix (-1.7%) also among the notable decliners. The nearly 9 percent performance spread between Chicago and Seattle highlights how localized housing trends remain.

"Monthly price movements show seasonal strength masking underlying softness," Godec observed. "On a non-seasonally adjusted basis, the National Index rose 0.8% from March (with the 10-City and 20-City Composites up 1.1% and 1.0%, respectively), reflecting typical spring gains. Yet after seasonal adjustment, the National Index dipped 0.1%, while the 20-City Composite was essentially flat (-0.04%). The latest six months saw a 1.35% national increase, offsetting a -0.5% decline in the prior six months. This represents a modest shift in direction, but remains limited in the context of rising costs.

"The affordability pinch remains a key headwind," Godec concluded. "After dipping below 6% earlier this year, 30-year mortgage rates climbed back to 6.3% in April, keeping financing costs elevated. In this higher-rate environment, home price growth remains constrained, with housing largely treading water in nominal terms and falling in real terms."

YEAR-OVER-YEAR

The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 0.8% annual gain for April. The 10-City Composite saw an annual increase of 1.8%, up from a 1.5% increase in the previous month. The 20-City Composite posted a year-over-year increase of 1.1%, up from a 0.9% rise in the previous month.

Chicago reported the highest annual gain among the 20 cities with a 6.5% increase in April, followed by New York and Cleveland with annual increases of 3.8% and 3.2%, respectively. Seattle posted the lowest return in April, falling 2.3%.

MONTH-OVER-MONTH

The pre-seasonally adjusted U.S. National, 10-City Composite, and 20-City Composite Indices recorded monthly gains of 0.8%, 1.1%, and 1.0%, respectively.

After seasonal adjustment, the U.S. National and 20-City Composite Indices reported monthly decreases of 0.1% and 0.04%, while the 10-City Composite Index posted a 0.04% gain.

SUPPORTING DATA

The S&P Cotality Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, recorded a 0.8% annual increase in April 2026. The 10-City and 20-City Composites reported year-over-year increases of 1.8% and 1.1%, respectively.

Table 1 below shows the housing boom/bust peaks and troughs for the three composites along with the current levels and percentage changes from the peaks and troughs.

2022 Peak

2023 Trough

Current

Index

Level

Date

Level

Date

From Peak
(%)

Level

From
Trough (%)

From
Peak (%)

National

308.07

Jun-22

292.68

Jan-23

-5.0 %

332.68

13.7 %

8.0 %

20-City

318.73

Jun-22

297.47

Jan-23

-6.7 %

345.43

16.1 %

8.4 %

10-City

330.38

Jun-22

309.92

Jan-23

-6.2 %

367.90

18.7 %

11.4 %

Table 2 below summarizes the results for April 2026. The S&P Cotality Case-Shiller Indices could be revised for the prior 24 months, based on the receipt of additional source data.

Metropolitan
Area

April 2026
Level

April / March

Change (%)

March / February

Change (%)

1-Year Change
(%)

Atlanta

250.45

1.06 %

0.72 %

-0.13 %

Boston

355.86

1.16 %

1.96 %

2.11 %

Charlotte

286.92

1.05 %

0.59 %

1.01 %

Chicago

231.51

1.55 %

2.21 %

6.52 %

Cleveland

204.99

0.76 %

1.03 %

3.18 %

Dallas

293.30

0.92 %

0.57 %

-1.57 %

Denver

316.21

0.84 %

1.31 %

-1.85 %

Detroit

--

--

0.98 %

--

Las Vegas

299.48

0.21 %

0.48 %

-1.66 %

Los Angeles

449.02

1.10 %

0.64 %

-0.45 %

Miami

447.81

0.52 %

0.97 %

1.10 %

Minneapolis

248.91

1.13 %

0.76 %

2.02 %

New York

343.41

0.96 %

1.02 %

3.82 %

Phoenix

325.12

-0.05 %

0.33 %

-1.65 %

Portland

331.76

0.85 %

0.85 %

-0.42 %

San Diego

451.85

0.83 %

1.20 %

1.05 %

San Francisco

368.06

1.51 %

1.79 %

1.30 %

Seattle

393.19

1.25 %

1.27 %

-2.26 %

Tampa

369.29

0.91 %

-0.17 %

-1.77 %

Washington

339.99

1.21 %

1.22 %

0.17 %

Composite-10

367.90

1.06 %

1.18 %

1.78 %

Composite-20

345.43

1.03 %

1.05 %

1.14 %

U.S. National

332.68

0.77 %

0.74 %

0.85 %

Sources: S&P Dow Jones Indices and Cotality

Data through April 2026

Table 3 below shows a summary of the monthly changes using the seasonally adjusted (SA) and non-seasonally adjusted (NSA) data. Since its launch in early 2006, the S&P Cotality Case-Shiller Indices have published, and the markets have followed and reported on, the non-seasonally adjusted data set used in the headline indices. For analytical purposes, S&P Dow Jones Indices publishes a seasonally adjusted data set covered in the headline indices, as well as for the 17 of 20 markets with tiered price indices and the five condo markets that are tracked.

April / March Change (%)

March / February Change (%)

Metropolitan Area

NSA

SA

NSA

SA

Atlanta

1.06 %

0.13 %

0.72 %

-0.09 %

Boston

1.16 %

-0.42 %

1.96 %

0.71 %

Charlotte

1.05 %

0.00 %

0.59 %

-0.18 %

Chicago

1.55 %

0.65 %

2.21 %

1.13 %

Cleveland

0.76 %

0.08 %

1.03 %

-0.11 %

Dallas

0.92 %

-0.40 %

0.57 %

-0.54 %

Denver

0.84 %

-0.45 %

1.31 %

-0.32 %

Detroit

--

--

0.98 %

0.01 %

Las Vegas

0.21 %

-0.53 %

0.48 %

-0.22 %

Los Angeles

1.10 %

0.00 %

0.64 %

-0.60 %

Miami

0.52 %

-0.05 %

0.97 %

0.54 %

Minneapolis

1.13 %

-0.04 %

0.76 %

-0.43 %

New York

0.96 %

0.19 %

1.02 %

0.23 %

Phoenix

-0.05 %

-0.61 %

0.33 %

-0.31 %

Portland

0.85 %

-0.22 %

0.85 %

-0.49 %

San Diego

0.83 %

-0.32 %

1.20 %

-0.55 %

San Francisco

1.51 %

-0.12 %

1.79 %

-0.51 %

Seattle

1.25 %

-0.53 %

1.27 %

-0.95 %

Tampa

0.91 %

0.17 %

-0.17 %

-0.69 %

Washington

1.21 %

0.21 %

1.22 %

-0.12 %

Composite-10

1.06 %

0.04 %

1.18 %

-0.04 %

Composite-20

1.03 %

-0.04 %

1.05 %

-0.15 %

U.S. National

0.77 %

-0.15 %

0.74 %

-0.21 %

Sources: S&P Dow Jones Indices and Cotality

Data through April 2026

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji.

FOR MORE INFORMATION:

Lemuel Brewster
Americas Communications
(+1) 917 805 1089
[email protected]

S&P Dow Jones Indices' interactive blog, IndexologyBlog.com, delivers real-time commentary and analysis from industry experts across S&P Global on a wide range of topics impacting residential home prices, homebuilding and mortgage financing in the United States. Readers and viewers can visit the blog at www.indexologyblog.com, where feedback and commentary are welcomed and encouraged.

The S&P Cotality Case-Shiller Indices are published on the last Tuesday of each month at 9:00 am ET. They are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided. Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data. The S&P Cotality Case-Shiller U.S. National Home Price Index tracks the value of single-family housing within the United States. The index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated quarterly. The S&P Cotality Case-Shiller 10-City Composite Home Price Index is a value-weighted average of the 10 original metro area indices. The S&P Cotality Case-Shiller 20-City Composite Home Price Index is a value-weighted average of the 20 metro area indices. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market.

These indices are generated and published under agreements between S&P Dow Jones Indices and Cotality, Inc.

The S&P Cotality Case-Shiller Indices are produced by Cotality, Inc. In addition to the S&P Cotality Case-Shiller Indices, Cotality also offers home price index sets covering thousands of zip codes, counties, metro areas, and state markets. The indices, published by S&P Dow Jones Indices, represent just a small subset of the broader data available through Cotality.

Case-Shiller® and Cotality® are trademarks of Cotality Case-Shiller, LLC or its affiliates or subsidiaries ("Cotality") and have been licensed for use by S&P Dow Jones Indices. None of the financial products based on indices produced by Cotality or its predecessors in interest are sponsored, sold, or promoted by Cotality, and neither Cotality nor any of its affiliates, subsidiaries, or predecessors in interest makes any representation regarding the advisability of investing in such products.

SOURCE S&P Dow Jones Indices

NETSTREIT Set to Join S&P SmallCap 600 PR Newswire NEW YORK, June 24, 2026 NEW YORK

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

© mixmotive / iStock Editorial via Getty Images

S&P Global (NYSE:SPGI | SPGI Price Prediction) screens as a multi-decade compounder candidate because it operates a legally protected toll booth on global capital markets that almost every borrower, asset manager, and index fund is structurally required to pay.

Recent price action is ugly: shares are down 23.08% year to date and trade at $400.16. For an investor in their 50s or 60s who has been chasing the wrong themes for a decade, that drawdown represents an entry point for long-horizon investors.

Pillar 1: Durability Backed by Regulation S&P Global is one of the Big Three credit rating agencies designated as an NRSRO by the SEC, a status required for most debt issuance in U.S. capital markets. Whenever a corporation, municipality, or sovereign government wants to issue debt, they are practically forced to pay S&P Global to rate it. The company also owns the S&P 500 and S&P Dow Jones Indices, collecting asset-linked licensing fees from essentially every major ETF and passive fund that tracks them.

The financial signature of that moat is unmistakable. Q1 2026 revenue grew 10.43% to $4.171 billion, GAAP operating margin expanded 620 basis points to 48.0%, and the Indices segment alone ran a 72% GAAP operating margin. Forward P/E sits at 21.

Pillar 2: Income That Compounds Quietly The Q4 2025 release marked the company’s 53rd consecutive year of dividend increases, putting it in Dividend King territory. The quarterly payout has climbed from $0.245 in 2001 to $0.97 today. Management plans to return 100% or more of adjusted free cash flow through dividends and buybacks in 2026, after returning $6.2 billion (113% of adjusted FCF) in 2025. Diluted shares are shrinking by roughly 3% a year.

Pillar 3: Built to Survive Market Cycles Recurring revenue absorbs the shocks. Subscription revenue grew 6% in Q1 2026, asset-linked index fees rose 18%, and surveillance fees on the trillions of dollars of already-rated debt keep flowing whether or not new issuance is hot. CEO Martina Cheung said the company delivered “strong revenue growth and margin expansion in every division” in “an incredibly volatile and challenging operating environment.”

The Scenario Where It Underperforms The Ratings business is cyclical. When credit markets freeze, transaction revenue drops fast, as it did in Q2 2025 when Ratings transaction revenue fell 4% and the segment grew just 1%. In a sustained issuance drought, SPGI will lag faster-growing software peers for several quarters. That does not break the forever thesis. Debt eventually gets refinanced, the NRSRO designation is not going away, and the S&P 500 brand is not displaceable by a competitor. Subscriptions, surveillance fees, and index licensing carry the company through the trough.

For a retirement-focused investor who is tired of watching screens, S&P Global fits the profile of a long-duration compounder rather than a short-term trade.

, /PRNewswire/ -- The greenhouse gas intensity of Canadian oil sands production has declined for a 13th straight year, according to a new analysis by S&P Global Energy. Since 2009, annual emissions intensity has declined every year but one (2012).

The annual S&P Global Energy analysis finds that the benchmark average GHG intensity of oil sands production declined 2% to 59 kilograms of "carbon dioxide equivalent" per barrel (kgCO2e/bbl) in 2025, the most recent calendar year available.

Source: S&P Global Energy Since 2009, the average GHG intensity of oil sands production has declined by 31%, or nearly 27 kgCO2e/b of marketable product. 

"The downward trajectory of oil sands emissions intensity is now a well-established, multi-decade trend," said Kevin Birn, Vice President, Head of Carbon Research, S&P Global Energy. "Ongoing optimization efforts to maximize output from existing facilities, which are much more capital efficient compared to new projects, has been a critical factor, and this is expected to continue."

Improvements in mining operations experienced the greatest gains, which came from improved fleet optimization, better waste-heat integration, improved predictive maintenance and shorter maintenance turnaround periods, the analysis finds.

Integrated mines have also been where the larger step-out technologies have been tested and deployed, such as the completion of the Quest Carbon Capture, Utilization and Storage (CCUS) project in 2015 and Suncor's coke boiler replacement in 2024. Meanwhile greater volumes of steam-assisted gravity drainage (SAGD) and Mined dilibit—operations on average less intensive than integrated mines—diluted and reduced the overall industry average.

While GHG intensity continues to decline, absolute emissions from oil sands have continued to rise, but at a slower rate. Between 2024-2025, absolute emissions rose 2% on account of a 150,000 b/d rise in overall production.

"As oil sands output has increased, emissions have been spread over more units pushing intensity lower, even as it also pushed absolute emissions higher, but at a slowing rate," Birn said. "With growing speculation that oil sands production growth may accelerate, absolute emissions growth should also be expected to rise without the application of CCUS. However, the learnings over the past two decades may mean these barrels still come at even lower intensity."

Media Contacts:

Jeff Marn
S&P Global Energy
+1 202 463 8213
[email protected]

About S&P Global Energy

At S&P Global Energy, our comprehensive view of global energy and commodities markets enables our customers to make superior decisions and create long-term, sustainable value. Our four core capabilities are: Platts for pricing and news; CERA for research and advisory; Horizons for energy expansion and sustainability solutions; and Events for industry collaboration.

S&P Global Energy is a division of S&P Global (NYSE: SPGI). S&P Global enables businesses, governments, and individuals with trusted data, expertise, and technology to make decisions with conviction. We are Advancing Essential Intelligence through world-leading benchmarks, data, and insights that customers need in order to plan confidently, act decisively, and thrive in a rapidly changing global landscape. Learn more at www.spglobal.com/energy.

SOURCE S&P Global Energy

S&P Global leverages recurring subscription revenues, AI adoption and acquisitions to drive growth, even as rising costs and a Mobility spin-off pose risks.

When artificial intelligence (AI) first took off, many investors assumed companies like S&P Global (SPGI 1.62%) could eventually face disruption.

The concern seemed logical. If AI can summarize earnings reports, analyze financial statements, and answer financial questions instantly, why would investors continue paying for expensive data and analytics platforms? That fear pressured sentiment around several financial information companies over the past year.

But the market may have underestimated the sources of S&P Global's real competitive advantages. Ironically, AI could strengthen the company's moat rather than weaken it.

Image source: Getty Images.

Why did investors become concerned? The bear case is not difficult to understand. AI models are rapidly improving at tasks that once required junior analysts and research teams. Summarizing filings, screening companies, compiling industry reports, and organizing financial information are becoming increasingly automated.

That creates legitimate concerns for parts of the financial analytics industry. As information becomes easier and cheaper to generate, some lower-end research and workflow tools could gradually lose pricing power. And at first glance, S&P Global appears exposed to that risk. After all, the company sells financial data, analytics, and research tools to institutional customers worldwide.

But this view misses an important distinction.

Today's Change

(

-1.62

%) $

-6.59

Current Price

$

400.80

S&P Global is not simply selling information Many investors still think of S&P Global primarily as a ratings agency. In reality, the company has quietly evolved into one of the most important financial infrastructure businesses in the world.

Its ecosystem now spans credit ratings, benchmark indexes, commodity intelligence, enterprise analytics, and private market data. Products like Capital IQ (a financial data platform), Platts (for energy), and S&P Dow Jones indexes are deeply embedded in institutional workflows across the global financial system.

That matters because customers are not simply paying for access to information. They are paying for trusted data sets, regulatory-grade accuracy, historical consistency, and systems that have become integrated into daily investment and risk-management workflows. Replacing that kind of infrastructure is far more difficult than replacing a simple research report.

AI still depends on trusted data This is where the debate around AI and S&P Global becomes far more interesting. Large language models are powerful, but they still depend heavily on the quality of the data that feeds them. AI can organize and interpret information, but it still needs reliable data pipelines, verified records, and structured financial data sets to function effectively.

And few companies own more valuable financial datasets than S&P Global. The company has spent decades building proprietary databases across bond markets, corporate financials, commodity pricing, credit histories, and benchmark indexes. These datasets are deeply embedded in the financial system and extremely difficult to replicate.

In many ways, AI may actually increase the value of this type of proprietary information. As AI-generated content floods the internet, trust becomes more important. Financial institutions do not simply want fast answers. They want auditable outputs, verified information, trusted benchmarks, and lower hallucination risk.

That dynamic could strengthen companies like S&P Global. The company already appears to understand this shift. It has been integrating AI capabilities into platforms like Capital IQ while expanding AI-powered workflow tools across its enterprise offerings. In other words, it is positioning itself as part of the underlying data infrastructure powering the AI era.

What does it mean for investors? Let's start by saying that S&P Global is not immune to AI disruption. Some lower-end analytics and research functions could absolutely become more commoditized over time.

But the market may have misunderstood where the company's real moat resides. S&P Global is not merely selling information. It owns a trusted financial infrastructure, proprietary data sets, benchmark systems, and decades of institutional credibility. And in the AI era, where trust becomes a scarce resource, the company's strength becomes even more prevalent.

So yes, information itself may become cheaper. But a trusted financial infrastructure may become even more valuable in the AI world.

Choosing between Northern Trust Corp (NTRS +0.40%) and S&P Global Inc (SPGI 1.62%) means weighing a traditional wealth management leader against a global data giant. This comparison examines which stock offers the better path for your portfolio in 2026.

Northern Trust is a leader in managing wealth for the world's most affluent individuals and institutions. S&P Global provides the essential data and credit ratings that keep global markets functioning. While both firms are successful, their growth rates and business models differ significantly, making the choice between them a strategic decision.

The case for Northern TrustNorthern Trust provides asset servicing and investment management to a global clientele of sovereign wealth funds and institutional investors. The company focuses on high-touch service and specialized banking solutions in the financial stocks sector. It serves these elite clients through a network of offices across major international markets.

In FY 2025, revenue reached approximately $8.1 billion. This was a decrease of nearly 3% compared to the prior year. The company delivered a net income of close to $1.7 billion, down from $1.97 billion, resulting in a net margin of roughly 21%.

The case for S&P GlobalS&P Global is a powerhouse in financial intelligence, providing credit ratings and market benchmarks to participants like investment banks and automotive manufacturers. The firm's products are essential for participants in the capital and commodity markets who require data and workflow solutions. Its expansive reach includes operations in dozens of countries and a massive global workforce.

During FY 2025, the company generated revenue of approximately $15.4 billion. This marked an increase of nearly 8% over the previous fiscal year. Net income was nearly $4.5 billion, up from $3.9 billion, which supported a healthy net margin of about 29.2%.

Risk profile comparisonNorthern Trust faces risks from market volatility and fluctuating interest rates because much of its revenue is fee-based. The firm relies heavily on complex IT systems, making it vulnerable to cyber-attacks or data breaches. It also operates in a highly regulated environment where compliance failures can lead to significant penalties.

S&P Global is exposed to technological risks and depends on third-party cloud providers such as Amazon.com Inc (AMZN +0.69%). Evolving regulations regarding artificial intelligence and environmental reporting could increase its operational costs. Additionally, the company must successfully manage the planned spin-off of its mobility segment to avoid financial disruptions.

Valuation comparisonNorthern Trust appears significantly cheaper than S&P Global when evaluating its Forward P/E, which compares the stock price to future earnings estimates.

MetricNorthern TrustS&P GlobalSector BenchmarkForward P/E16.5x20.9x17.2xP/S ratio3.9x7.9xSector benchmark uses the SPDR XLF sector ETF.
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.

In a ‘K-shaped’ economy where the wealthy keep getting wealthier while most people have a smaller share of overall wealth, having a position in the leading asset management firm for ultra-high-net-worth individuals makes sense.

Northern Trust has a lot of room to grow in serving family offices, even though it is already its core business. Just 15% of the business’s family office clients are outside the U.S., yet the wealth of those families is growing faster than that of those inside the U.S. Management sees AI as a way to boost the productivity of its client management teams by boosting personalization to appeal to new and existing clients.

Serving the rich is a highly competitive market, but Northern Trust still retains its brand as the firm that serves the most successful people. That’s a competitive moat. The company is also expanding the number of alternative asset funds it offers clients, including venture capital and private equity.

S&P Global, meanwhile, has a different business model. It sits at the core of the information economy in finance, providing credit ratings, analysis, and news on municipal bonds, corporate debt, and other instruments. Analysts see S&P boosting its revenues by about 8% in 2026, with a stronger increase in profits.

Yet Northern Trust should boost its sales by  20% in 2026 with a ~23% rise in net income. That’s exceptional growth if it comes to fruition. Looking at the investment ratios that are significantly cheaper on a forward price-to-earnings and price-to-sales basis compared to the S&P, combined with that growth and Northern Trust, gets the nod.

If you're looking for passive income from your investment portfolio, dividend stocks are for you. These companies pay out a share of their earnings to investors, usually quarterly but sometimes monthly. According to a study from Hartford Funds, companies that consistently increase their annual dividends tend to outperform those that don't, with lower volatility along the way. If this sounds appealing to you, here are three blue-chip dividend stocks to buy and hold for the long haul.

Image source: Getty Images.

1. Realty Income: 31 years of dividend increases Realty Income (O +1.57%) is a massive real estate investment trust (REIT) built for dividend investors. What makes REITs attractive is that they are legally required to pay out 90% of their annual taxable income to shareholders. Realty Income pays a monthly dividend to shareholders and has maintained a long track record of increasing its dividend every year since 1994.

Today's Change

(

1.57

%) $

0.95

Current Price

$

61.53

Realty Income owns a portfolio of 15,500 commercial properties spread across the United States and Europe. It leases these properties to tenants under long-term triple net lease (NNN) agreements. These leases shift much of the operating costs, such as maintenance, insurance, and real estate taxes, onto their tenants, while Realty Income benefits from lower operating costs and smoother earnings over time.

The biggest risks for investors buying Realty Income include higher interest rates and economic downturns that could affect tenants' ability to meet lease obligations. To mitigate some of these risks, Realty Income has an institutional-grade tenant base that includes Dollar General, Dollar Tree, FedEx, 7-Eleven, and Walgreens; no single tenant accounts for more than 3.3% of its annualized base rent.

At recent prices, Realty Income had a 5.4% dividend yield. While a high yield may be attractive, it can also be a sign the market doesn't think the company can sustain its current payout. In the first quarter, Realty Income's dividend distributions came to nearly 72% of its adjusted funds from operations (which is what REITs use instead of net income), a level the company has shown over time that it can easily afford. 

Realty Income has done an excellent job of navigating various economic and market environments over 31 years of dividend increases, making it a dividend stock to hold for the long haul.

2. S&P Global: 53 years of dividend increases For over 53 years, S&P Global (SPGI 1.62%) has increased its annual dividend payments to investors, placing it in the exclusive group of Dividend Kings, or companies that have raised their payout annually for 50 years or more. While it may not have the most eye-catching yield, around 0.9%, that's in part because its stock has climbed so high -- about 280% over the past decade. Lately, the stock has gotten caught up in the selling of software-related stocks, but investors shouldn't let that distract them from S&P Global's robust competitive advantages and resilient business.

Today's Change

(

-1.62

%) $

-6.59

Current Price

$

400.80

What makes S&P Global stand out is its role in the global credit ratings market, where it holds a dominant 50% market share in an industry with high barriers to entry. It also boasts a strong market position in benchmarks and data analytics, which generate high-margin, recurring software subscription fees through its Market Intelligence and Indices divisions, supporting its capital-light business model.

Today, S&P Global stock is priced at around 22 times its forward earnings and is near its cheapest valuation in almost four years. The company will also spin off its Mobility division, giving shareholders one share of Mobility Global for every one share of S&P Global held as of June 15. If you're looking for a high-quality stock at a good valuation and a track record of consistently rewarding income investors, S&P Global is another solid choice.

3. Aflac: 44 years of dividend increases Aflac (AFL +1.92%) provides supplementary insurance across the United States and Japan. Primarily operating as a specialty insurer, Aflac focuses on accident, cancer, and critical illness policies, positioning itself outside the traditional property and casualty insurance space. At recent prices, the stock yields about 2.1%.

Today's Change

(

1.92

%) $

2.24

Current Price

$

118.79

Aflac leverages its entrenched payroll-deduction distribution networks, which create a sticky customer base that generates recurring premium revenues. On top of this, its business model has enabled it to accumulate a massive, low-cost investment float, which it invests in interest-bearing assets such as U.S. Treasuries and corporate bonds to generate additional investment income.

The company has rolled out some new products, including a hybrid term life policy with a long-term care rider, a response to an aging population and rising inflation, that allows policyholders to use coverage for care. It is also seeing strong growth in Japan across its medical, cancer, and life insurance offerings, which drove first-quarter growth.

Aflac's steady business has enabled it to raise its annual dividend for 44 consecutive years, illustrating the company's long-term commitment to rewarding shareholders.

On June 02, 2026, we delve into the discounted cash flow (DCF) analysis for S&P Global Inc SPGI , a company that has experienced a challenging year with a year-to-date decline of 17.6%. Despite this, SPGI's stock price has shown some resilience, gaining 2.9% over the past week. Below are key insights from our analysis:

DCF Earnings-based intrinsic value of $372.51 vs current price of $428.56 (margin of safety: -15.1%) DCF FCF-based intrinsic value of $573.25 vs current price (second opinion: modestly undervalued with 25.2% margin of safety) GF Score™ of 93/100 indicates high reliability of the DCF inputs What Is SPGI Worth? DCF Earnings-Based Model The DCF earnings-based model for S&P Global Inc SPGI utilizes a two-stage approach to estimate the intrinsic value of the stock. The first stage involves a growth phase where earnings per share (EPS) is projected to grow at a rate of 13.5% annually for the next ten years. This growth is then discounted at a rate of 11%, which is derived from the risk-free rate and equity risk premium. The second stage accounts for a terminal growth rate of 4% for the subsequent ten years, also discounted at 11%.

Parameter Value Current EPS (TTM, excl. non-recurring) $18.43 10-Year Growth Rate 13.5% 10-Year Treasury Rate 4.43% Discount Rate (ceil(Treasury) + 6%) 11% Terminal Growth Rate 4% The calculation summary for the DCF earnings-based model is as follows:

Stage Description Value Growth Stage (Years 1-10) EPS growing at 13.5%, discounted at 11% $208.74 Terminal Stage (Years 11-20) 4% terminal growth, discounted at 11% $163.77 Intrinsic Value Growth + Terminal $372.51 With the current price at $428.56, the intrinsic value of $372.51 indicates that SPGI is fairly valued, with a margin of safety of -15.1%. It is important to note that GuruFocus employs EPS excluding non-recurring items, as research indicates that stock prices correlate more closely with earnings than with free cash flow. For further details, you can access the SPGI DCF Calculator.

What Does the Free Cash Flow DCF Say? In addition to the earnings-based DCF model, we also evaluated S&P Global Inc using a free cash flow (FCF) DCF model. The intrinsic value derived from this approach is $573.25. When comparing the FCF-based intrinsic value with the earnings-based value, we find that they provide differing perspectives on SPGI's valuation. The FCF model suggests that SPGI is modestly undervalued, with a margin of safety of 25.2%.

How Does GF Value™ Compare to the DCF Models? Furthermore, the GF Value™ of S&P Global Inc stands at $575.85, offering a third perspective on the company's valuation. GF Value™ is GuruFocus' proprietary measure, calculated based on historical trading multiples, past business growth, and future performance estimates. When we consider all three models—the DCF earnings-based, DCF FCF, and GF Value™—we observe that they provide a consistent view of SPGI's valuation, with the earnings-based model indicating fair value, while the FCF model suggests modest undervaluation. For more information, visit the GF Value™ page.

What Does SPGI's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns based on backtested data from 2006 to 2021. Below is the GF Score™ breakdown for SPGI:

Metric Rating GF Score™ 93/100 Financial Strength 6/10 Profitability 10/10 Growth 10/10 Valuation 8/10 Momentum 4/10 With a predictability rank of 3/5 stars, this indicates that the DCF model is reasonably reliable for estimating SPGI's valuation. For more insights, visit the SPGI stock page.

Key Assumptions and Limitations It is essential to recognize that DCF models are highly sensitive to the assumptions made regarding growth rates and discount rates. Additionally, stocks with low predictability ratings tend to produce less reliable DCF estimates. The terminal growth rate of 4% used in this analysis is a simplifying assumption that may not fully capture the complexities of future growth.

What This Means for Investors In synthesizing the insights from the three valuation models—DCF earnings-based, DCF FCF, and GF Value™—we find that S&P Global Inc is currently fairly valued according to the earnings-based model, while the FCF model indicates modest undervaluation. The GF Value™ further supports this perspective, suggesting a reliable valuation framework.

For the full DCF analysis, visit the SPGI DCF Calculator. You can also explore the GF Value™ page, or use the GuruFocus Stock Screener to find undervalued predictable companies.

Frequently Asked Questions What is SPGI's intrinsic value based on DCF?

Answer: earnings-based $372.51, FCF-based $573.25

Is SPGI overvalued or undervalued?

Answer: Based on the DCF and GF Value™ consensus, SPGI is fairly valued.

How reliable is the DCF model for SPGI?

Answer: The predictability rank of 3/5 indicates a reasonable level of reliability for the DCF model.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].