Filing Flows › S&P Global (SPGI) › Q2 2026
S&P Global (SPGI) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 28, 2026
S&P Global (SPGI) reported revenue of $4.1B for the second quarter 2026 (Q2 2026), +10% from a year earlier and -0.6% from the quarter before. Operating margin was 43.7%, net earnings $1.2B (29.4% of revenue).
S&P Global, Q2 2026: revenue $4.1B (+10% year over year), operating margin 43.7%, net earnings $1.2B, operating cash flow $1.4B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.1B | -0.6% | +10% |
| Operating profit | $1.8B | -9% | +17% |
| Net earnings | $1.2B | -13% | +14% |
| Operating cash flow | $1.4B | +39% | -0.4% |
| Free cash flow | $1.3B | — | +2% |
What changed
Revenue was $4.1B in Q2 2026, up 10% year over year and down 1% from the previous quarter. Subscription was the largest line at 50% of revenue. Non-subscription / Transaction added $0.15B year over year (up 20%), 38% of the total change.
Operating profit was $1.8B, a 43.7% margin (up 2.4 points year over year). Of the extra revenue versus Q2 2025, 67% reached operating profit, above the 41% margin then. Total costs grew 6% against revenue growth of 10%. Net earnings were $1.2B, up 14% year over year. The effective tax rate was 23.5%.
Operating cash flow was $1.4B (roughly flat year over year), 109% of net income including minority interests. Non-cash charges added back $0.31B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $0.25B. After distributions to noncontrolling interest holders ($0.07B) and capital expenditures ($0.04B), free cash flow as the company reports it was $1.3B.
Questions
What was S&P Global's revenue in the second quarter 2026?
S&P Global (SPGI) reported revenue of $4.1B for the second quarter 2026 (Q2 2026), +10% from a year earlier and -0.6% from the quarter before.
Was S&P Global profitable in the second quarter 2026?
Operating profit was $1.8B (43.7% of revenue) and net earnings $1.2B.
Source: S&P Global 10-Q on SEC EDGAR.