S&P Global (SPGI) AI Stock Analysis

Company Guidance

S&P Global raised full-year organic constant currency growth guidance to a range of 7.5% to 8.5%, total operating margin expansion to 75 to 100 basis points, or 125 to 150 basis points excluding the impact of Astra, and adjusted EPS to a range of $17.70 to $17.95; ratings guidance is organic constant currency revenue growth of 6.5% to 8% based on high single digit build issuance growth, with ratings margin expansion towards the lower end of the 75 to 100 basis point range, indices guidance is organic constant currency growth of 17% to 18.5% with margins towards the higher end, energy guidance is organic constant currency growth of 4.5% to 6% with margin expansion strong, but modestly below the range for the full company, and Market Intelligence guidance is organic constant currency growth of 5.5% to 7%, with results reasonably comfortable slightly above the midpoint and margin expansion near the high end; the company expects $250 billion to $300 billion of hyperscaler issuance, 20% to 30% growth in M&A issuance, approximately $1.6 billion of adjusted free cash flow in the fourth quarter, oil to stay around $100 per barrel through the fourth quarter, energy organic constant currency growth to normalize in 2027 to within the 6% to 8% average range, and a couple percentage points of incremental total index revenue growth in 2027.