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S&P Global SPGI
$ 417.62 1.67%
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Quarterly report 2025-Q3
added 07-28-2026

S&P Global Balance Sheet 2025-2006 | SPGI

Brief overview of S&P Global 's assets and capital

The review uses the five latest available annual reports between 2017 and 2021.

Assets advanced +59.4% to $15 billion from $9.4 billion; annual growth near 12.4% reflects a fast increase in scale.

Assets outpaced liabilities, +59.4% versus +9.6%. Dependence on external funding declined.

For this sector, the direction of capital matters more than a high liability share itself: the equity ratio is 13.5% versus 7.5%.

Retained earnings reached $15 billion, changing +49.8% over the period. A positive accumulated result supports equity.

Conclusion

S&P Global 's balance sheet looks resilient: assets are supported by substantial equity, while debt does not overwhelm financial flexibility.

Annual Balance Sheet S&P Global

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

Net Debt

10.7 B 9.84 B 10.2 B 9.56 B -2.29 B 546 M 1.11 B 1.76 B 790 M 1.18 B 2.13 B -1.7 B -725 M 496 M 254 M -218 M 79.8 M 726 M - -

Long Term Debt

12.4 B 11.4 B 11.4 B 10.7 B 4.11 B 4.11 B 3.95 B 3.66 B 3.17 B 3.56 B 3.47 B 799 M 799 M 799 M 798 M 1.2 B 1.2 B 1.2 B - -

Long Term Debt Current

124 M 109 M 105 M 118 M 96 M 100 M 112 M - - - - - - - - - - - - -

Total Non Current Liabilities

- - - - - 4.76 B 7.72 B 6.14 B 5.44 B 5.36 B 5.03 B 2.26 B 2.34 B 2.54 B 1.71 B - 2.09 B 2.2 B - -

Total Current Liabilities

7.64 B 6.39 B 6.12 B 6 B 3.82 B 3.59 B 3.09 B 2.63 B 3.21 B 2.61 B 2.91 B 3.97 B 2.37 B 3.67 B 3.37 B 2.68 B 2.45 B 2.53 B - -

Total Liabilities

25 B 22.7 B 22.5 B 22 B 9.49 B 9.18 B 10.8 B 8.77 B 8.66 B 7.97 B 7.94 B 6.23 B 4.72 B 6.21 B 4.84 B 4.76 B 4.55 B 4.73 B - -

Deferred Revenue

4.09 B 3.69 B 3.46 B 3.13 B 2.22 B 2.17 B 1.93 B 1.64 B 1.61 B 1.51 B 1.42 B 1.32 B 1.31 B 1.23 B 1.3 B 1.2 B 1.12 B 1.1 B - -

Retained Earnings

23.7 B 21 B 18.7 B 17.8 B 15 B - 12.2 B 11.3 B 10 B 9.21 B 7.64 B 6.95 B 7.38 B 6.52 B 7.67 B 7.06 B 6.52 B 6.07 B - -

Total Assets

61.2 B 60.2 B 60.6 B 61.8 B 15 B 12.5 B 11.3 B 9.46 B 9.42 B 8.67 B 8.18 B 6.77 B 6.06 B 7.05 B 6.43 B 7.05 B 6.48 B 6.08 B - -

Cash and Cash Equivalents

1.74 B 1.67 B 1.29 B 1.29 B 6.5 B 4.11 B 2.87 B 1.92 B 2.78 B 2.39 B 1.48 B 2.5 B 1.54 B 760 M 835 M 1.42 B 1.12 B 472 M 396 M 353 M

Book Value

36.2 B 37.5 B 38.1 B 39.7 B 5.54 B 3.35 B 536 M 684 M 768 M 701 M 243 M 539 M 1.34 B 840 M 1.58 B 2.29 B 1.93 B 1.35 B - -

Total Shareholders Equity

31.1 B 33.2 B 34.2 B 36.4 B 2.03 B 509 M 479 M 628 M 711 M 650 M 194 M 488 M 1.3 B 767 M 1.51 B 2.21 B 1.85 B 1.28 B 1.68 B 2.73 B

All numbers in USD currency

Quarterly Balance Sheet S&P Global

2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q3 2024-Q2 2024-Q1 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1 2010-Q3 2010-Q2 2010-Q1 2009-Q3 2009-Q2

Long Term Debt

10.6 B 11.4 B 11.4 B 11.4 B 11.4 B 11.4 B 11.4 B 11.4 B 10.7 B 10.7 B 10.7 B - - 11.3 B 4.11 B 4.11 B 4.11 B 4.11 B 4.11 B 4.11 B 4.11 B 4.11 B 3.95 B 3.95 B 3.95 B 3.95 B 3.66 B 3.66 B 3.66 B 3.66 B 3.17 B 3.17 B 3.17 B 3.17 B 3.56 B 3.56 B 3.56 B 3.56 B 3.47 B 3.47 B 3.47 B 3.47 B 795 M 799 M 799 M 799 M 799 M 799 M 799 M 799 M 799 M 799 M 799 M 799 M 798 M 798 M 798 M 798 M 1.2 B 1.2 B 1.2 B 1.2 B 1.2 B

Total Non Current Liabilities

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2.08 B 2.1 B 2.15 B 2.17 B

Total Liabilities

24.6 B 22.1 B 22.4 B 22.2 B 22 B 22 B 22.2 B 21.5 B 21.6 B 22.3 B 22 B - - 22.9 B 9.49 B 9.01 B 8.96 B 8.92 B 9.18 B 9.18 B 9.18 B 9.18 B 8.54 B 8.54 B 8.54 B 8.54 B 7.14 B 7.15 B 7.15 B 7.15 B 7.31 B 7.31 B 7.31 B 7.31 B 6.89 B 6.89 B 6.89 B 6.89 B 7.02 B 7.02 B 7.02 B 7.02 B 5.42 B 5.42 B 5.42 B 5.42 B 3.91 B 3.91 B 3.91 B 3.91 B 5.4 B 5.4 B 5.4 B 5.4 B 5.04 B 4.84 B 4.84 B 4.84 B 4.67 B 4.44 B 4.3 B 4.66 B 4.59 B

Deferred Revenue

3.98 B 3.63 B 3.87 B 3.89 B 3.29 B 3.41 B 3.54 B 3.02 B 3.15 B 3.18 B 3.13 B - - 3.17 B 2.22 B 2.01 B 2.1 B 2.11 B 2.17 B 2.17 B 2.17 B 2.17 B 1.93 B 1.93 B 1.93 B 1.93 B 1.64 B 1.64 B 1.64 B 1.68 B 1.61 B 1.42 B 1.5 B 1.51 B 1.51 B 1.51 B 1.51 B 1.51 B 1.42 B 1.42 B 1.42 B 1.42 B 1.25 B 1.32 B 1.32 B 1.32 B 1.27 B 1.27 B 1.31 B 1.31 B 1.23 B 1.23 B 1.23 B 1.23 B 1.19 B 1.3 B 1.3 B 1.3 B 1.13 B 1.14 B 1.12 B 1.08 B 1.1 B

Retained Earnings

24.8 B 23.3 B 22.4 B 21.8 B 20.4 B 20 B 19.4 B 18.7 B 18.3 B 18.2 B 17.8 B - - 16.1 B 15 B 14.8 B 14.2 B 13.9 B 13.4 B 13.4 B 13.4 B 13.4 B 12.2 B 12.2 B 12.2 B 12.2 B 11.3 B 11.3 B 11.3 B 11.3 B 10 B 10 B 10 B 10 B 9.21 B 9.21 B 9.21 B 9.21 B 7.64 B 7.64 B 7.64 B 7.64 B 6.95 B 6.95 B 6.95 B 6.95 B 7.38 B 7.38 B 7.38 B 7.38 B 6.52 B 6.52 B 6.52 B 6.52 B 7.67 B 7.67 B 7.67 B 7.67 B 6.98 B 6.67 B 6.55 B 6.42 B 6.16 B

Total Assets

60.8 B 59.7 B 60.4 B 59.9 B 60.4 B 61 B 60.5 B 60.6 B 60.7 B 62 B 61.8 B - - 66.1 B 15 B 14.1 B 13.4 B 12.8 B 12.5 B 12.5 B 12.5 B 12.5 B 11.3 B 11.3 B 11.3 B 11.3 B 9.44 B 9.46 B 9.46 B 9.46 B 9.42 B 9.42 B 9.42 B 9.42 B 8.67 B 8.67 B 8.67 B 8.67 B 8.18 B 8.18 B 8.18 B 8.18 B 6.77 B 6.77 B 6.77 B 6.77 B 6.06 B 6.06 B 6.06 B 6.06 B 7.05 B 7.05 B 7.05 B 7.05 B 6.62 B 6.43 B 6.43 B 6.43 B 6.88 B 6.36 B 6.29 B 6.42 B 6.06 B

Cash and Cash Equivalents

1.81 B 1.67 B 1.85 B 1.47 B 1.7 B 2.04 B 1.54 B 1.64 B 1.56 B 1.4 B 1.29 B 1.39 B 3.57 B 4.41 B 6.5 B 5.9 B 5.21 B 4.5 B 4.11 B 4.11 B 4.11 B 4.11 B 2.87 B 2.87 B 2.87 B 2.87 B 1.92 B 1.92 B 1.92 B 1.92 B 2.78 B 2.78 B 2.78 B 2.78 B 2.39 B 2.39 B 2.39 B 2.39 B 1.48 B 1.48 B 1.48 B 1.48 B 2.5 B 2.5 B 2.5 B 2.5 B 1.54 B 1.54 B 1.54 B 1.54 B 760 M 760 M 760 M 760 M 835 M 944 M 944 M 944 M 1.32 B 1.12 B 1.21 B 957 M 556 M

Book Value

36.2 B 37.7 B 38 B 37.7 B 38.4 B 39 B 38.2 B 39 B 39.1 B 39.8 B 39.7 B - - 43.2 B 5.54 B 5.1 B 4.44 B 3.91 B 3.35 B 3.35 B 3.35 B 3.35 B 2.8 B 2.8 B 2.8 B 2.8 B 2.3 B 2.3 B 2.3 B 2.3 B 2.12 B 2.12 B 2.12 B 2.12 B 1.78 B 1.78 B 1.78 B 1.78 B 1.16 B 1.16 B 1.16 B 1.16 B 1.35 B 1.35 B 1.35 B 1.35 B 2.15 B 2.15 B 2.15 B 2.15 B 1.65 B 1.65 B 1.65 B 1.65 B 1.58 B 1.58 B 1.58 B 1.58 B 2.21 B 1.92 B 1.98 B 1.75 B 1.47 B

Total Shareholders Equity

31.2 B 33.1 B 33.4 B 33.5 B 34 B 34.9 B 34.4 B 35.4 B 35.6 B 36.4 B 36.4 B 37.2 B 39.5 B 39.8 B 2.03 B 1.84 B 1.26 B 1.03 B 509 M 509 M 509 M 509 M 479 M 479 M 479 M 479 M 628 M 628 M 628 M 628 M 709 M 711 M 711 M 711 M 650 M 650 M 650 M 650 M 194 M 194 M 194 M 194 M 488 M 488 M 488 M 488 M 1.3 B 1.3 B 1.3 B 1.3 B 767 M 767 M 767 M 767 M 1.51 B 1.51 B 1.51 B 1.51 B 2.13 B 1.84 B 1.9 B 1.68 B 1.39 B

All numbers in USD currency

Balance Sheet is a fundamental financial report of S&P Global , providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

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