S&P Global annual free cash flow
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2025
S&P Global Free Cash Flow (FCF) History (SPGI)
S&P Global reported $5.46B in free cash flow for fiscal 2025, an increase of 52.96% from the previous fiscal year, with a free cash flow margin of 35.58%.
View full S&P Global company overviewS&P Global free cash flow by year
| Fiscal year | Period ended | Free cash flow | Change | Growth | FCF margin |
|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $5.46B | $1.89B | +52.96% | +35.58% |
| 2023 | 2023-12-31 | $3.57B | $1.05B | +41.89% | +28.54% |
| 2022 | 2022-12-31 | $2.51B | −$1.05B | −29.44% | +22.48% |
| 2021 | 2021-12-31 | $3.56B | $72.0M | +2.06% | +42.94% |
| 2020 | 2020-12-31 | $3.49B | $830.0M | +31.19% | +46.91% |
| 2019 | 2019-12-31 | $2.66B | $710.0M | +36.39% | +39.72% |
| 2018 | 2018-12-31 | $1.95B | $58.0M | +3.06% | +31.18% |
| 2017 | 2017-12-31 | $1.89B | $448.0M | +31.00% | +31.22% |
| 2016 | 2016-12-31 | $1.45B | $1.23B | +565.90% | +25.53% |
| 2015 | 2015-12-31 | $217.0M | −$900.0M | −80.57% | +4.08% |
| 2014 | 2014-12-31 | $1.12B | $452.0M | +67.97% | +22.11% |
| 2013 | 2013-12-31 | $665.0M | $31.0M | +4.89% | +14.14% |
| 2012 | 2012-12-31 | $634.0M | −$198.0M | −23.80% | +14.85% |
| 2011 | 2011-12-31 | $832.0M | $214.0M | +34.63% | +21.04% |
| 2010 | 2010-12-31 | $618.0M | −$643.5M | −51.01% | +16.98% |
| 2009 | 2009-12-31 | $1.26B | $189.4M | +17.67% | +21.49% |
| 2008 | 2008-12-31 | $1.07B | −$415.3M | −27.92% | +16.87% |
| 2007 | 2007-12-31 | $1.49B | — | — | +21.96% |
S&P Global quarterly free cash flow
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Q1.26
| Fiscal quarter | Period ended | Free cash flow | Change | YoY growth | FCF margin |
|---|---|---|---|---|---|
| Q1 2026 | 2026-03-31 | $1.01B | $100.0M | +10.99% | +24.21% |
| Q4 2025 | 2025-12-31 | $1.70B | $292.0M | +20.71% | +43.46% |
| Q3 2025 | 2025-09-30 | $1.46B | −$64.0M | −4.20% | +37.55% |
| Q2 2025 | 2025-06-30 | $1.38B | $460.0M | +49.78% | +36.86% |
| Q1 2025 | 2025-03-31 | $910.0M | −$376.0M | −29.24% | +24.09% |
| Q3 2024 | 2024-09-30 | $1.41B | $433.0M | +44.32% | +39.44% |
| Q2 2024 | 2024-06-30 | $1.52B | $786.0M | +106.50% | +42.94% |
| Q1 2024 | 2024-03-31 | $924.0M | $358.0M | +63.25% | +26.47% |
| Q4 2023 | 2023-12-31 | $1.29B | $201.0M | +18.53% | +40.80% |
| Q3 2023 | 2023-09-30 | $977.0M | $184.0M | +23.20% | +31.68% |
| Q2 2023 | 2023-06-30 | $738.0M | $308.0M | +71.63% | +23.80% |
| Q1 2023 | 2023-03-31 | $566.0M | $360.0M | +174.76% | +17.91% |
| Q4 2022 | 2022-12-31 | $1.08B | $147.0M | +15.67% | +36.93% |
| Q3 2022 | 2022-09-30 | $793.0M | −$166.0M | −17.31% | +27.72% |
| Q2 2022 | 2022-06-30 | $430.0M | −$486.0M | −53.06% | +14.37% |
| Q1 2022 | 2022-03-31 | $206.0M | −$544.0M | −72.53% | +8.62% |
| Q4 2021 | 2021-12-31 | $938.0M | −$170.0M | −15.34% | +44.92% |
| Q3 2021 | 2021-09-30 | $959.0M | $175.0M | +22.32% | +45.95% |
| Q2 2021 | 2021-06-30 | $916.0M | −$14.0M | −1.51% | +43.49% |
| Q1 2021 | 2021-03-31 | $750.0M | $81.0M | +12.11% | +37.20% |
| Q4 2020 | 2020-12-31 | $1.11B | $142.0M | +14.70% | +59.35% |
| Q3 2020 | 2020-09-30 | $784.0M | $53.0M | +7.25% | +42.47% |
| Q2 2020 | 2020-06-30 | $930.0M | $239.0M | +34.59% | +47.86% |
| Q1 2020 | 2020-03-31 | $669.0M | $396.0M | +145.05% | +37.46% |
| Q4 2019 | 2019-12-31 | $966.0M | $328.0M | +51.41% | +55.68% |
| Q3 2019 | 2019-09-30 | $731.0M | $261.0M | +55.53% | +43.28% |
| Q2 2019 | 2019-06-30 | $691.0M | $175.0M | +33.91% | +40.55% |
| Q1 2019 | 2019-03-31 | $273.0M | −$54.0M | −16.51% | +17.38% |
| Q4 2018 | 2018-12-31 | $638.0M | −$129.0M | −16.82% | +41.54% |
| Q3 2018 | 2018-09-30 | $470.0M | −$38.0M | −7.48% | +30.40% |
| Q2 2018 | 2018-06-30 | $516.0M | $228.0M | +79.17% | +32.07% |
| Q1 2018 | 2018-03-31 | $327.0M | −$3.0M | −0.91% | +20.87% |
| Q4 2017 | 2017-12-31 | $767.0M | $512.0M | +200.78% | +48.30% |
| Q3 2017 | 2017-09-30 | $508.0M | −$78.0M | −13.31% | +33.58% |
| Q2 2017 | 2017-06-30 | $288.0M | −$147.0M | −33.79% | +19.09% |
| Q1 2017 | 2017-03-31 | $330.0M | $161.0M | +95.27% | +22.71% |
| Q4 2016 | 2016-12-31 | $255.0M | −$392.0M | −60.59% | +18.23% |
| Q3 2016 | 2016-09-30 | $586.0M | $77.0M | +15.13% | +40.72% |
| Q2 2016 | 2016-06-30 | $435.0M | $9.0M | +2.11% | +29.35% |
| Q1 2016 | 2016-03-31 | $169.0M | $1.53B | — | +12.60% |
| Q4 2015 | 2015-12-31 | $647.0M | $298.0M | +85.39% | +47.09% |
| Q3 2015 | 2015-09-30 | $509.0M | $150.0M | +41.78% | +38.44% |
| Q2 2015 | 2015-06-30 | $426.0M | $111.0M | +35.24% | +31.74% |
| Q1 2015 | 2015-03-31 | −$1.36B | −$1.46B | — | −107.23% |
| Q4 2014 | 2014-12-31 | $349.0M | $105.0M | +43.03% | +27.05% |
| Q3 2014 | 2014-09-30 | $359.0M | $121.0M | +50.84% | +28.42% |
| Q2 2014 | 2014-06-30 | $315.0M | $63.0M | +25.00% | +24.19% |
| Q1 2014 | 2014-03-31 | $94.0M | $163.0M | — | +7.86% |
| Q4 2013 | 2013-12-31 | $244.0M | $387.0M | — | +21.81% |
| Q3 2013 | 2013-09-30 | $238.0M | −$420.0M | −63.83% | +20.66% |
| Q2 2013 | 2013-06-30 | $252.0M | $98.0M | +63.64% | +20.16% |
| Q1 2013 | 2013-03-31 | −$69.0M | −$34.0M | — | −5.84% |
| Q4 2012 | 2012-12-31 | −$143.0M | −$7.0M | — | −13.66% |
| Q3 2012 | 2012-09-30 | $658.0M | −$17.0M | −2.52% | +58.96% |
| Q2 2012 | 2012-06-30 | $154.0M | −$108.0M | −41.22% | +14.37% |
| Q1 2012 | 2012-03-31 | −$35.0M | −$66.0M | — | −3.38% |
| Q4 2011 | 2011-12-31 | −$136.0M | $260.7M | — | −134.65% |
| Q3 2011 | 2011-09-30 | $675.0M | −$2.2M | −0.33% | +65.22% |
| Q2 2011 | 2011-06-30 | $262.0M | $23.4M | +9.79% | +16.83% |
| Q1 2011 | 2011-03-31 | $31.0M | −$67.8M | −68.62% | +2.46% |
| Q4 2010 | 2010-12-31 | −$396.7M | −$787.2M | — | — |
| Q3 2010 | 2010-09-30 | $677.2M | $83.5M | +14.07% | +34.62% |
| Q2 2010 | 2010-06-30 | $238.6M | $20.5M | +9.41% | +16.19% |
| Q1 2010 | 2010-03-31 | $98.8M | $39.7M | +67.12% | +8.30% |
| Q4 2009 | 2009-12-31 | $390.5M | −$268.3M | −40.72% | +28.29% |
| Q3 2009 | 2009-09-30 | $593.7M | — | — | +31.65% |
| Q2 2009 | 2009-06-30 | $218.1M | — | — | +14.89% |
| Q1 2009 | 2009-03-31 | $59.1M | — | — | +5.15% |
| Q3 2008 | 2008-09-30 | $658.9M | — | — | +32.16% |
S&P Global free cash flow growth trends
Over the last five reported fiscal years, free cash flow grew from $2.66B to $5.46B, a compound annual growth rate of 15.44%. S&P Global's latest reported quarter, Q1 2026, generated $1.01B in free cash flow, an increase of 10.99% year over year.
About the metric
What free cash flow means
Free cash flow is the cash a company generates from operations after capital expenditures. Positive FCF can fund dividends, buybacks, debt repayment, or reinvestment; negative FCF means capital spending exceeded operating cash flow for that period.
Calculation and source
How free cash flow is calculated
TickerStat calculates free cash flow as SEC-reported operating cash flow minus capital expenditures. FCF margin equals free cash flow divided by revenue. Fiscal periods can differ from calendar years, so the tables include exact period-end dates.
Review S&P Global filings at SEC.gov ↗