Aureus
AExcellent

S&P Global Inc.(SPGI)

A

Financial data as of Dec 31, 2025Stable · Financials

FCF Margin35.6%Free Cash Flow / Revenue
Cash Conversion126.4%Operating CF / Net Income
Free Cash Flow$5.5B
Revenue$15.3B
Net Cash-$11.8BNet debt position
Debt / FCF2.5xManageable debt load
Current Ratio0.82Tight short-term liquidity
YoY FCF Growth-0.3%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
+0.5Healthy FCF margin with manageable debt (35.6%, 2.5x)
→
-0.5Current ratio below 1.0 (0.82) (reduced — strong FCF covers short-term obligations)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (35.6%)
  • Excellent cash conversion (126%)
  • Highly consistent quarterly FCF

Concerns

  • Net debt position ($11.8B) — 2.5x FCF, manageable
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin35.6%
Net Margin29.2%
Operating CF Margin36.8%
CapEx Ratio1.3%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$11.8BNet debt position
Debt / FCF2.5xManageable debt load
Current Ratio0.82Tight liquidity
Debt / Equity0.44Low leverage

Quarterly FCF Trend

-0.3% YoYStable (-0.3%)

Free cash flow per quarter

Sector Comparison — Financials

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameS&P Global Inc.
SectorFinancials
Free Cash Flow$5.5B
Revenue$15.3B
Net Income$4.5B
Operating Cash Flow$5.7B
Capital Expenditure$195.0M
FCF Margin35.6%
Cash Conversion Rate126.4%
Net Margin29.2%
Total Debt$13.6B
Total Cash$1.7B
Net Cash-$11.8B
Current Ratio0.82
Debt / Equity0.44
Debt / FCF2.5x
YoY FCF Growth-0.3%
Positive Quarters5 of 5
Trend DirectionStable
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance

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