SPGI · Intrinsic value
Is S&P Global Inc. (SPGI) overvalued or undervalued?
S&P Global Inc. (SPGI) trades at the delayed market price of $427.83 a share. That price already implies revenue growth of 16.2% a year for 5 years. TickerWorth's fair value is $242.86 a share (76% above fair value), as of Oct 20, 2026. It is a model estimate, and every input behind it is sourced below.
Model by Miraaj Patel · generated from SEC filings and market data · Updated Oct 20, 2026 · How these pages are made
Is SPGI overvalued?
- Fair value
- $242.86
- Market price
- $427.83
- Downside to fair value
- 43.2%
- Verdict
- 76% above fair value
Reverse DCF: Today's price implies revenue growth of 16.2% a year for 5 years; our model assumes 8.0% a year on average over the same horizon.
What is SPGI's TickerWorth Score?
Expensive vs our estimate — the business scores well
Compared with Financial Services companies in US
Its strongest point: a profitable, high-quality business. Its weakest: trades above our estimate of what it's worth.
- Value · 29 of 100
Cheaper than 29% of Financial Services companies in US
- Price vs worth · 15 of 100
- Quality · 65 of 100
More profitable than 65% of Financial Services companies in US
- Financial health · 36 of 100
Financially stronger than 36% of Financial Services companies in US
- Growth · 48 of 100
Growing faster than 48% of Financial Services companies in US
- Momentum · 39 of 100
Outperformed 39% of Financial Services companies in US over the past year
Confidence: High confidence · Scored
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SPGI DCF valuation: what the price assumes
At a recent price of $427.83, S&P Global Inc. (SPGI) trades 76% above TickerWorth's blended fair value of $242.86 per share — a discounted-cash-flow model cross-checked against peer multiples and asset value — meaning the market currently prices SPGI overvalued vs our estimate of what the business is intrinsically worth. Our fair value sits below the market, an implied -43.2% move to close the gap if the business performs in line with our assumptions. This is an educational model, not a price target or a recommendation — the value moves with the inputs, which you can test yourself using the WACC slider below.
Read the full reasoning
One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values SPGI at about $269.44 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.
The valuation discounts S&P Global Inc.'s projected free cash flows at a weighted-average cost of capital (WACC) of 9.8%, with a long-run terminal growth rate of 2.5%. About 73% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.
Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 16.2% annual revenue growth for SPGI. Our base case instead compounds to about 8.0% a year over the same forecast, so the market is pricing in materially faster growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.
Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, SPGI's modeled DCF value ranges from about $196.87 to $416.96 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.
How to read this page: the DCF fair value is what S&P Global Inc. would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of SPGI's intrinsic value. Figures update as new filings and prices come in.
Every input behind SPGI's DCF
| Input | Value |
|---|---|
| Base-year revenueS&P Global Inc. FY2025 10-K (accession 0000064040-26-000013): us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, FY2025 full year. | $15,336,000,000 |
| Base EBIT marginS&P Global Inc. FY2025 10-K (accession 0000064040-26-000013): us-gaap:OperatingIncomeLoss 6,478,000,000 / revenue 15,336,000,000 = 42.24%, FY2025. | 42.2% |
| Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast | 12% → 10% → 8% → 6% → 4% |
| Risk-free rateLive feed — US 10-year Treasury yield (^TNX) | 5.3% |
| BetaLive feed — yfinance, 5-year monthly beta vs the S&P 500 (clamped to 0.4–2.5) | 1.08 |
| Terminal growthESTIMATEAssumption — TickerWorth house default 2.5%, held below WACC | 2.5% |
| Diluted sharesS&P Global Inc. FY2025 10-K (accession 0000064040-26-000013): WeightedAverageNumberOfDilutedSharesOutstanding = 305,100,000 shares, FY2025. | 305M |
| Market priceLast known price · as of 2026-10-20 18:24 UTC | $427.83 |
Change SPGI's assumptions
The discount-rate dial and the editable model
ProChange growth, margin and WACC yourself — Pro (7-day free trial, card required).
What does S&P Global Inc. do?
What does it do?
S&P Global Inc., together with its subsidiaries, provides benchmarks, data, analytics, and workflow solutions in the global capital, energy and commodity, and automotive markets. It operates through four segments: S&P Global Market Intelligence, S&P Global Ratings, S&P Global Energy, and S&P Dow Jones Indices. It operates in the Financial Data & Stock Exchanges industry (Financial Services sector), headquartered in United States. The company employs roughly 44,500 people.
How does it make money?
The business turns $15.3B in annual revenue into profit. Out of every $100 of sales, about $45 is left as operating profit (operating margin of 44.8%), after a 71% gross margin on the products/services it sells. After all costs, taxes and interest, 30.5% of revenue becomes bottom-line net profit.
Is it financially healthy?
Financially it looks stretched: carries modest debt (0.4× equity), may struggle to cover its short-term bills (1.0× current ratio), and is currently profitable.
Who at SPGI filed insider trades?
| Date | Insider | Relationship | What happened | Value | Filing |
|---|---|---|---|---|---|
| Ganesan Girish | EVP, Chief People Officer | Option exercise | — | Form 4 for Ganesan Girish (opens sec.gov in a new tab) | |
| Ganesan Girish | EVP, Chief People Officer | Shares withheld (tax) | $39,980.48 | Form 4 for Ganesan Girish (opens sec.gov in a new tab) | |
| Thomas Darren Robert | Co-Head, Market Intelligence | Option exercise | — | Form 4 for Thomas Darren Robert (opens sec.gov in a new tab) | |
| Thomas Darren Robert | Co-Head, Market Intelligence | Shares withheld (tax) | $93,508.11 | Form 4 for Thomas Darren Robert (opens sec.gov in a new tab) | |
| Clay Catherine R | CEO, S&P Dow Jones Indices | Open-market buy | $1,078,475.00 | Form 4 for Clay Catherine R (opens sec.gov in a new tab) | |
| Moritz Robert Edward Jr. | Director | Open-market buy | $500,000.82 | Form 4 for Moritz Robert Edward Jr. (opens sec.gov in a new tab) |
A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans
Common questions
What is SPGI's intrinsic value?
TickerWorth's blended fair value for S&P Global Inc. (SPGI) is $242.86 per share, versus a market price of $427.83 (76% above fair value).
Is SPGI overvalued or undervalued?
On our blended fair value SPGI looks overvalued vs fair value at $427.83. This is an educational estimate, not advice.
What discount rate is used for SPGI?
A WACC of 9.8% and a terminal growth rate of 2.5%.
Is S&P Global stock undervalued?
TickerWorth's fair value for S&P Global Inc. (SPGI) is $242.86 against a market price of $427.83. Our read: 76% above fair value. This is a model estimate, not investment advice.
S&P Global (SPGI) DCF valuation and fair value
Our fair value for S&P Global Inc. (SPGI) is $242.86, built on a 9.8% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into S&P Global stock?
Today's price implies revenue growth of 16.2% a year for 5 years; our model assumes 8.0% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $427.83. A model estimate, not investment advice.
S&P Global (SPGI) insider trading
The most recent insider filing (SEC Form 4) for S&P Global Inc. (SPGI): Ganesan Girish, EVP, Chief People Officer, option exercise on 2026-10-01. The latest filings are listed on this page. A disclosure, not a signal to trade.
Stocks below our fair value instead
Not investment advice. TickerWorth Score is a model output.
Educational tool. Every output reflects the assumptions shown — not a prediction and not investment advice. TickerWorth is not a licensed investment adviser, and these figures are estimates from public filings and market data that can be wrong.