S&P Global Inc.
Cash Flow Statement
| Line Item | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.40B | $1.13B | $1.18B | $1.07B | $1.09B | $879.0M | $971.0M | $1.01B |
| Depreciation & Amortization | — | — | — | — | — | — | — | — |
| Depreciation | $31.0M | $31.0M | $28.0M | $26.0M | $25.0M | $26.0M | $22.0M | $25.0M |
| Amortization | $276.0M | $265.0M | $266.0M | $270.0M | $268.0M | $276.0M | $271.0M | $266.0M |
| Stock-Based Compensation | $39.0M | $69.0M | $75.0M | $45.0M | $47.0M | $70.0M | $95.0M | $49.0M |
| Net Cash from Operating Activities | $1.04B | $1.75B | $1.51B | $1.45B | $953.0M | $1.74B | $1.45B | $1.56B |
| Investing Activities | ||||||||
| Capital Expenditures | $27.0M | $46.0M | $45.0M | $61.0M | $43.0M | $33.0M | $35.0M | $32.0M |
| Business Acquisitions | $12.0M | $1.97B | $25.0M | $12.0M | $13.0M | $41.0M | $3.0M | $260.0M |
| Net Cash from Investing Activities | $291.0M | $-472.0M | $-101.0M | $-52.0M | $-79.0M | $7.0M | $57.0M | $-299.0M |
| Financing Activities | ||||||||
| Dividends Paid | $288.0M | $290.0M | $291.0M | $294.0M | $295.0M | $280.0M | $282.0M | $286.0M |
| Stock Repurchases | $1.00B | $2.50B | $1.20B | $651.0M | $650.0M | $1.30B | $1.50B | $0 |
| Net Cash from Financing Activities | $-1.24B | $-1.20B | $-1.57B | $-1.06B | $-1.10B | $-1.72B | $-1.88B | $-748.0M |
| Net Change in Cash | $65.0M | $73.0M | $-175.0M | $378.0M | $-197.0M | $-31.0M | $-342.0M | $495.0M |
| Free Cash Flow | $1.01B | $1.70B | $1.46B | $1.38B | $910.0M | $1.71B | $1.41B | $1.52B |