S&P Global (SPGI) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 70.4%
EBITDA Margin: 54.6%
Op. Margin: 48.0%
Net Margin: 33.4%

Op. margin of 48.0% is up 6.2% YoY — cost efficiency is improving. Net margin at 33.4% and gross margin of 70.4% — earnings take a bigger bite when COGS stays lean..

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit