SPGI SPGI

Name: SPGI Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored April 20, 2026

Price at analysis: $442.57

Crucible Score

64.2

B-

Quality × Value Composite

KQI — Quality

69.0

Fundamental Quality Index

KVI — Value

58.3

Valuation Attractiveness Index

Crucible Verdict — SPGI

S&P Global (SPGI) demonstrates solid fundamentals with strong growth prospects (80) and market position (78), though moat durability lags at 58 in an increasingly competitive data landscape. The stock trades at a 16% discount to fair value despite an 81% earnings beat rate under long-tenured CEO Peterson. SPGI's premium valuation multiple depends on maintaining pricing power as financial data commoditizes.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

74.0

Growth Profile

79.8

Moat Durability⚠

58.3

Management Effectiveness

62.2

Diversification & Resilience⚠

74.0

Market Position

78.0

Weakest dimension: Moat Durability (58.3)

◆ KVI Value Dimensions

DCF Margin of Safety

71.3

FCF Yield & Cash Returns

48.2

Relative Valuation

55.8

Growth-Adjusted Value

34.0

Historical Valuation

86.0

Macro Context

49.0

◆ DCF Valuation Scenarios

Bear Case

$371.42

Base Case

$512.68

Bull Case

$698.15

Price at Analysis

$442.57

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$371.42	6.0%	40.0%	10.5%
🟢 Base	$512.68	8.0%	43.0%	9.7%
🟢 Bull	$698.15	10.0%	46.0%	8.9%

Key Assumptions: SPGI revenue grew from ~$8.3B to ~$15.3B over 5 years driven by the IHS Markit merger; post-integration organic growth is assumed at 6-10% depending on scenario. Operating margins normalized around 42-44% after merger integration costs, with bear case assuming regulatory/competitive pressure compressing margins to 40% and bull case reflecting operating leverage to 46%. WACC range of 8.9-10.5% reflects CAPM with 1.20 beta and equity risk premium of 4.5-5.5% plus debt cost blended at current leverage ratios.

◆ Financial Snapshot

Profitability

Gross Margin70.2%

Operating Margin42.2%

Net Margin29.2%

ROIC9.0%

ROE1.9%

Balance Sheet

Balance SheetCR: 0.82

Cash ConversionFCF/EPS: 1.22x

Capital IntensityCapex/Rev: 1.3%

Altman Z-Score4.28 (Safe)

Piotroski F-Score7/9 (Good)

Growth

Revenue CAGR16.6% CAGR

Earnings CAGR10.3% CAGR

Growth ConsistencyCV: 0.72

Segment Breadth4/4 growing (100%)

Quarterly TrendRev↑, Margin↑, WC↓, Exp↓

Earnings CredibilityConsistent Beater

◆ Analyst Consensus & Leadership

Leadership & Governance

CEODouglas L. Peterson · 14 years

CEO Ownership17.5%

Compensation92% performance-based

Insider ActivityNeutral

Capital AllocationROIC 9.0% vs WACC 1.6%

Earnings Beat Rate81% (19/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted April 20, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.