S&P Global Management
Management criteria checks 2/4
S&P Global's CEO is Martina Cheung, appointed in Jan 2019, has a tenure of 7.5 years. total yearly compensation is $12.83M, comprised of 7.8% salary and 92.2% bonuses, including company stock and options. directly owns 0.009% of the company’s shares, worth $11.92M. The average tenure of the management team and the board of directors is 1.7 years and 5.5 years respectively.
Key information
Martina Cheung
Chief executive officer
US$12.8m
Total compensation
| CEO salary percentage | 7.79% |
| CEO tenure | 7.5yrs |
| CEO ownership | 0.009% |
| Management average tenure | 1.7yrs |
| Board average tenure | 5.5yrs |
Recent management updates
Recent updates
Narrative Update • Jul 07
SPGI: AI Data Repositioning After Mobility Spin Will Support Earnings Multiple
For S&P Global, the analyst price target in this update is trimmed by about $30 to $503. Analysts cite revised revenue growth assumptions after the Mobility spin and slightly higher discount rates, partly offset by a firmer profit margin outlook and a modestly higher future P/E multiple.Narrative Update • Jun 15
SPGI: AI Data Partnerships And Workflows Will Support Earnings Multiple
Analysts have made a modest upward adjustment to the S&P Global price target, reflecting a slightly lower discount rate and steady assumptions for revenue growth, profit margin, and future P/E. These assumptions are broadly supported by recent mixed target revisions across the Street.Seeking Alpha • Jun 09
S&P Global: Do You Appreciate The AI Threat?
Summary S&P Global is rated Hold due to limited valuation upside and unresolved AI risks, despite strong fundamentals. The upcoming Mobility spin-off will structurally boost margins by 270bps but has minimal impact on top line growth. SPGI's Market Intelligence segment faces significant AI disruption risk, while Ratings, Energy, and Indices are largely insulated. Current valuation offers ~11% upside to a $470 price target, insufficient to offset competitive and technological uncertainty. Read the full article on Seeking AlphaNarrative Update • Jun 01
SPGI: Mobility Spin Off And AI Initiatives Will Support Earnings Multiple
Analysts have made a modest adjustment to the S&P Global price target, reflecting updated assumptions around slightly lower revenue growth, a small change in discount rate, firmer profit margins, and a lower future P/E. Recent target moves have ranged from a $5 trim at Wells Fargo to increases of $3 to $20 at other firms.
New Narrative • May 08
Guidance Cuts and AI Concerns Shake S&P Global
S&P Global has strong long-term fundamentals, but in the near term, it faces AI-related uncertainty, slower growth expectations, and shifting investor sentiment. At its core, the softer guidance in the ratings segment is being interpreted as a signal about the broader economic environment.Narrative Update • Apr 25
SPGI: AI Competition Concerns Will Reset But Not Break Earnings Multiple
Analysts have trimmed the S&P Global fair value estimate by about $4 to $534. This reflects a series of recent price target cuts and slightly higher discount rate and P/E assumptions, while keeping revenue growth and margin expectations broadly similar.Narrative Update • Apr 11
SPGI: AI Competition Concerns Will Shape Future Earnings Multiple
The analyst price target for S&P Global has been revised lower to $556, reflecting a broader wave of target cuts across the Street as analysts factor in a slightly lower discount rate, modestly adjusted long term growth and margin assumptions, and heightened competitive concerns around data and AI. Analyst Commentary Street research on S&P Global has turned more cautious overall, with several firms trimming price targets while still recognizing the company’s scale in ratings, data, and index services.Narrative Update • Mar 28
SPGI: Debt Issuance Strength And AI Tools Will Support Premium Earnings
Analysts have made a marginal upward revision to the S&P Global price target, reflecting a fair value move from about $537.90 to roughly $538.52. They cite recent strength in debt issuance volumes and a generally constructive view on long term growth in information and business services, despite renewed competitive concerns around market data and the impact of AI.Narrative Update • Mar 13
SPGI: Ratings Franchise And AI Data Platform Will Support Premium Earnings
Analysts have trimmed their average price targets on S&P Global into a roughly $550 to $575 range. This reflects slightly higher competitive concerns around data and AI while still generally supporting a premium valuation driven by steady growth expectations and a forward P/E near 31x.Narrative Update • Feb 26
SPGI: Ratings Strength And AI Data Integrations Will Support Earnings Quality
The analyst price target in our S&P Global model has been reset from about $610 to about $538, as analysts factor in more intense competition in market data, evolving views on the impact of AI, and a lower assumed future P/E multiple. This still sits alongside generally constructive Street research on longer term growth for information and business services companies.Narrative Update • Feb 11
SPGI: Ratings Strength And AI Data Expansion Will Support Earnings Quality
The updated analyst price target for S&P Global moves from approximately $505 to $611, as analysts factor in revised assumptions around discount rates, slightly different revenue growth expectations, higher profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research on S&P Global reflects a mix of higher and lower price targets, with analysts weighing nearer term execution risks against longer term earnings power and cash flow generation.Seeking Alpha • Apr 29
S&P Global: Beyond Ratings, Index Innovation And Spin-Off Strategies Fuel Success
Summary S&P Global is attractive due to its strong free cash flow, diversified business segments, and resilience in a volatile market. The company's Q1 2025 earnings showed 8% revenue growth and a 12% increase in EPS, despite market uncertainties. S&P Global's valuation remains appealing, with a forward PE of 28 and strong growth prospects, making it a solid long-term investment. The announced spin-off and additional share repurchase program are expected to unlock further value and enhance stock performance. Read the full article on Seeking AlphaSeeking Alpha • Mar 17
S&P Global: A Collection Of All-Star Businesses
Summary S&P Global's Ratings, Indices, and Commodity Insights units have strong moats and exceptional economics, making them core to the company's long-term growth. Market Intelligence, despite being the largest revenue source, has lower margins and its growth investments could be better allocated elsewhere. Mobility, a newer unit, shows potential but hasn't yet proven it can create a standardized language like the other three businesses. With a commitment to return 85% of free cash flow to shareholders and sustainable growth, S&P Global remains a strong long-term investment. Read the full article on Seeking AlphaSeeking Alpha • Feb 11
S&P Global: Knockout Quarter And High Bar Set For 2025
Summary S&P Global's first earnings report under CEO Martina Cheung was flawless, with strong growth across all segments and significant margin expansion. Despite concerns about 2025, S&P Global provided ambitious guidance, expecting 5%-7% growth, with adjusted EPS above consensus and robust free cash flow. The company's monopolistic position and diversified segments make it a prime beneficiary of global GDP growth. At a fair valuation, S&P Global remains a 'Buy' for long-term investors, because of its long-term double-digit growth trajectory and ahead of consensus upgrades. Read the full article on Seeking AlphaSeeking Alpha • Jan 16
S&P Global: A High-Quality, Remarkably Profitable, Near-Monopolistic Business
Summary S&P Global has been a stable holding for Wedgewood, with consistent revenue and earnings growth despite economic volatility from 2020-2023. The company's business model thrives in low-interest rate environments, benefiting from increased corporate debt refinancing and capital market activity. Despite recent underperformance relative to benchmarks, S&P Global remains a high-quality, profitable growth business with a near-monopolistic market position. The long-term outlook for S&P Global is favorable, with expected benefits from future declining interest rates and a significant wave of debt refinancings. Read the full article on Seeking AlphaSeeking Alpha • Jan 09
Overpriced Optimism: Why S&P Global's Valuation Deserves Scrutiny
Summary S&P Global's current EV/EBITDA multiple of 25 is overly optimistic, with future growth expectations likely unrealistic, potentially leading to a valuation correction. Analysts' growth estimates of 12% are based on historical data; a more realistic growth rate is 8%, indicating the stock is overvalued by 34%. Despite strong competitive advantages and shareholder returns, rising operational costs and debt could hinder future growth, making the stock a hold for existing investors. For new investors, the opportunity cost is high, and better alternatives are available, making S&P Global less attractive at current valuations. Read the full article on Seeking AlphaCEO Compensation Analysis
| Date | Total Compensation | Salary | Company Earnings |
|---|---|---|---|
| Mar 31 2026 | n/a | n/a | US$5b |
| Dec 31 2025 | US$13m | US$1m | US$4b |
| Sep 30 2025 | n/a | n/a | US$4b |
| Jun 30 2025 | n/a | n/a | US$4b |
| Mar 31 2025 | n/a | n/a | US$4b |
| Dec 31 2024 | US$8m | US$792k | US$4b |
| Sep 30 2024 | n/a | n/a | US$4b |
| Jun 30 2024 | n/a | n/a | US$3b |
| Mar 31 2024 | n/a | n/a | US$3b |
| Dec 31 2023 | US$6m | US$750k | US$3b |
| Sep 30 2023 | n/a | n/a | US$2b |
| Jun 30 2023 | n/a | n/a | US$2b |
| Mar 31 2023 | n/a | n/a | US$3b |
| Dec 31 2022 | US$12m | US$750k | US$3b |
| Sep 30 2022 | n/a | n/a | US$3b |
| Jun 30 2022 | n/a | n/a | US$4b |
| Mar 31 2022 | n/a | n/a | US$4b |
| Dec 31 2021 | US$5m | US$625k | US$3b |
| Sep 30 2021 | n/a | n/a | US$3b |
| Jun 30 2021 | n/a | n/a | US$2b |
| Mar 31 2021 | n/a | n/a | US$2b |
| Dec 31 2020 | US$5m | US$625k | US$2b |
| Sep 30 2020 | n/a | n/a | US$2b |
| Jun 30 2020 | n/a | n/a | US$3b |
| Mar 31 2020 | n/a | n/a | US$2b |
| Dec 31 2019 | US$3m | US$550k | US$2b |
Compensation vs Market: Martina's total compensation ($USD12.83M) is about average for companies of similar size in the US market ($USD14.67M).
Compensation vs Earnings: Martina's compensation has increased by more than 20% in the past year.
CEO
Martina Cheung (50 yo)
7.5yrs
Tenure
US$12,831,062
Compensation
Ms. Martina L. Cheung has been President and Chief Executive Officer of S&P Global Inc. since November 1, 2024 and has been its Board Member since July 1, 2024. Ms. Cheung serves as a Director at The Partn...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 7.5yrs | US$12.83m | 0.0093% $ 11.9m | |
| Chief Enterprise Data Officer & President of S&P Global Market Intelligence | 1.7yrs | US$5.68m | 0.0027% $ 3.5m | |
| Executive VP & Chief Legal Officer | 9.9yrs | US$4.78m | 0.0044% $ 5.7m | |
| CFO & Executive VP | 1.4yrs | US$17.28m | 0.00044% $ 563.8k | |
| Senior VP | 7.8yrs | US$1.96m | 0.0039% $ 5.0m | |
| Executive VP | 4.4yrs | US$6.52m | 0.0026% $ 3.3m | |
| Senior VP & Chief Communications Officer | 1.7yrs | no data | 0.00043% $ 551.0k | |
| Executive VP & Chief People Officer | 1.7yrs | no data | 0.00077% $ 986.7k | |
| President of S&P Global Energy | 1.7yrs | no data | 0.0017% $ 2.1m | |
| President of S&P Global Ratings | 1.7yrs | no data | 0.00097% $ 1.2m | |
| Chief Executive Officer of S&P Dow Jones Indices | less than a year | no data | 0.00084% $ 1.1m | |
| Executive VP | less than a year | no data | no data |
1.7yrs
Average Tenure
50.5yo
Average Age
Experienced Management: SPGI's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 2yrs | US$12.83m | 0.0093% $ 11.9m | |
| Independent Director | 9.3yrs | US$367.56k | 0.00014% $ 179.4k | |
| Independent Director | less than a year | no data | 0.00090% $ 1.2m | |
| Independent Director | 4.4yrs | US$355.06k | 0.00043% $ 551.0k | |
| Independent Director | 11.8yrs | US$425.06k | 0.00016% $ 205.0k | |
| Independent Director | 9.8yrs | US$414.06k | 0.00014% $ 179.4k | |
| Independent Director | less than a year | no data | 0.00039% $ 499.8k | |
| Independent Director | 9.5yrs | US$364.06k | 0.00014% $ 179.4k | |
| Independent Non-Executive Chairman of Board | 5.8yrs | US$518.23k | no data | |
| Independent Director | 5.1yrs | US$405.06k | no data |
5.5yrs
Average Tenure
62yo
Average Age
Experienced Board: SPGI's board of directors are considered experienced (5.5 years average tenure).
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/10 04:15 |
| End of Day Share Price | 2026/07/10 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
|
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
S&P Global Inc. is covered by 33 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | Argus Research Company |
| Jeffrey Meuler | Baird |
| Manav Patnaik | Barclays |