S&P Global annual operating margin
2007
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2023
2025
S&P Global Operating Margin Growth & History (SPGI)
S&P Global's operating margin was 42.24% for fiscal 2025.
View full S&P Global company overviewS&P Global annual operating margin history
| Fiscal year | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 42.24% | +10.07 pp |
| 2023 | 2023-12-31 | 32.17% | −12.05 pp |
| 2022 | 2022-12-31 | 44.22% | −6.66 pp |
| 2021 | 2021-12-31 | 50.87% | +2.27 pp |
| 2020 | 2020-12-31 | 48.60% | +0.45 pp |
| 2019 | 2019-12-31 | 48.16% | +3.57 pp |
| 2018 | 2018-12-31 | 44.58% | +1.98 pp |
| 2017 | 2017-12-31 | 42.60% | −16.42 pp |
| 2016 | 2016-12-31 | 59.02% | +22.94 pp |
| 2015 | 2015-12-31 | 36.08% | +33.84 pp |
| 2014 | 2014-12-31 | 2.24% | −26.64 pp |
| 2013 | 2013-12-31 | 28.88% | +1.48 pp |
| 2012 | 2012-12-31 | 27.40% | +0.16 pp |
| 2011 | 2011-12-31 | 27.24% | −0.96 pp |
| 2010 | 2010-12-31 | 28.19% | +6.75 pp |
| 2009 | 2009-12-31 | 21.45% | −0.18 pp |
| 2008 | 2008-12-31 | 21.63% | −3.13 pp |
| 2007 | 2007-12-31 | 24.76% | — |
S&P Global quarterly operating margin
Q2.08
Q3.08
Q1.09
Q2.09
Q3.09
Q4.09
Q1.10
Q2.10
Q3.10
Q1.11
Q2.11
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Q1.12
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Q3.12
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Q2.13
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Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Operating margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-03-31 | 48.00% | +6.22 pp |
| Q4 2025 | 2025-12-31 | 42.75% | +2.64 pp |
| Q3 2025 | 2025-09-30 | 43.08% | +2.17 pp |
| Q2 2025 | 2025-06-30 | 41.30% | +1.63 pp |
| Q1 2025 | 2025-03-31 | 41.78% | +13.51 pp |
| Q3 2024 | 2024-09-30 | 40.11% | +5.29 pp |
| Q2 2024 | 2024-06-30 | 40.91% | +11.54 pp |
| Q1 2024 | 2024-03-31 | 39.67% | +3.47 pp |
| Q4 2023 | 2023-12-31 | 28.27% | +3.86 pp |
| Q3 2023 | 2023-09-30 | 34.82% | +5.01 pp |
| Q2 2023 | 2023-06-30 | 29.38% | −20.14 pp |
| Q1 2023 | 2023-03-31 | 36.20% | −42.99 pp |
| Q4 2022 | 2022-12-31 | 24.40% | −18.84 pp |
| Q3 2022 | 2022-09-30 | 29.81% | −22.08 pp |
| Q2 2022 | 2022-06-30 | 49.52% | −5.28 pp |
| Q1 2022 | 2022-03-31 | 79.20% | +25.58 pp |
| Q4 2021 | 2021-12-31 | 43.25% | +8.11 pp |
| Q3 2021 | 2021-09-30 | 51.89% | +0.76 pp |
| Q2 2021 | 2021-06-30 | 54.80% | −2.07 pp |
| Q1 2021 | 2021-03-31 | 53.62% | +2.56 pp |
| Q4 2020 | 2020-12-31 | 35.14% | −11.95 pp |
| Q3 2020 | 2020-09-30 | 51.14% | −1.62 pp |
| Q2 2020 | 2020-06-30 | 56.87% | +9.16 pp |
| Q1 2020 | 2020-03-31 | 51.06% | +6.19 pp |
| Q4 2019 | 2019-12-31 | 47.09% | +1.32 pp |
| Q3 2019 | 2019-09-30 | 52.75% | +7.22 pp |
| Q2 2019 | 2019-06-30 | 47.71% | +5.95 pp |
| Q1 2019 | 2019-03-31 | 44.88% | −0.50 pp |
| Q4 2018 | 2018-12-31 | 45.77% | +6.28 pp |
| Q3 2018 | 2018-09-30 | 45.54% | +2.64 pp |
| Q2 2018 | 2018-06-30 | 41.77% | −2.50 pp |
| Q1 2018 | 2018-03-31 | 45.37% | +1.40 pp |
| Q4 2017 | 2017-12-31 | 39.48% | −19.84 pp |
| Q3 2017 | 2017-09-30 | 42.89% | −50.78 pp |
| Q2 2017 | 2017-06-30 | 44.27% | +0.34 pp |
| Q1 2017 | 2017-03-31 | 43.98% | +5.80 pp |
| Q4 2016 | 2016-12-31 | 59.33% | +28.47 pp |
| Q3 2016 | 2016-09-30 | 93.68% | +62.71 pp |
| Q2 2016 | 2016-06-30 | 43.93% | +0.56 pp |
| Q1 2016 | 2016-03-31 | 38.18% | −1.18 pp |
| Q4 2015 | 2015-12-31 | 30.86% | +119.93 pp |
| Q3 2015 | 2015-09-30 | 30.97% | +1.99 pp |
| Q2 2015 | 2015-06-30 | 43.37% | +6.81 pp |
| Q1 2015 | 2015-03-31 | 39.36% | +4.24 pp |
| Q4 2014 | 2014-12-31 | −89.07% | −111.32 pp |
| Q3 2014 | 2014-09-30 | 28.98% | −5.31 pp |
| Q2 2014 | 2014-06-30 | 36.56% | +1.68 pp |
| Q1 2014 | 2014-03-31 | 35.12% | +11.58 pp |
| Q4 2013 | 2013-12-31 | 22.25% | −6.88 pp |
| Q3 2013 | 2013-09-30 | 34.29% | +9.65 pp |
| Q2 2013 | 2013-06-30 | 34.88% | +6.15 pp |
| Q1 2013 | 2013-03-31 | 23.54% | −3.71 pp |
| Q4 2012 | 2012-12-31 | 29.13% | −189.68 pp |
| Q3 2012 | 2012-09-30 | 24.64% | −2.60 pp |
| Q2 2012 | 2012-06-30 | 28.73% | +5.74 pp |
| Q1 2012 | 2012-03-31 | 27.25% | +10.12 pp |
| Q4 2011 | 2011-12-31 | 218.81% | +186.61 pp |
| Q3 2011 | 2011-09-30 | 27.25% | +5.11 pp |
| Q2 2011 | 2011-06-30 | 22.99% | +7.01 pp |
| Q1 2011 | 2011-03-31 | 17.13% | −3.32 pp |
| Q3 2010 | 2010-09-30 | 32.21% | +2.57 pp |
| Q2 2010 | 2010-06-30 | 22.14% | +1.91 pp |
| Q1 2010 | 2010-03-31 | 15.99% | +5.16 pp |
| Q4 2009 | 2009-12-31 | 20.45% | −11.42 pp |
| Q3 2009 | 2009-09-30 | 29.64% | +7.84 pp |
| Q2 2009 | 2009-06-30 | 20.22% | — |
| Q1 2009 | 2009-03-31 | 10.83% | — |
| Q3 2008 | 2008-09-30 | 31.87% | — |
| Q2 2008 | 2008-06-30 | 21.80% | — |
S&P Global operating margin trends
Over the last five reported fiscal years, S&P Global's operating margin decreased from 48.16% to 42.24%, a change of −5.92 percentage points. The latest reported quarter, Q1 2026, shows 48.00%.
About the metric
What operating margin means
Operating margin measures the percentage of revenue left after operating costs and expenses. It shows how much operating profit a company generates from each dollar of revenue.
Calculation and source
How operating margin is calculated
TickerStat calculates operating margin as SEC-reported operating income divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review S&P Global filings at SEC.gov ↗