Flagship explainer

How S&P Global Inc. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$15.3B · 100%Cost of revenue$4.6B · 30%Gross profit$10.8B · 70%Operating income$6.5B · 42%Income before tax$6.2B · 41%Income tax$1.4B · 9%Net income$4.5B · 29%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$15.3B100%
Cost of revenue$4.6B30%
$10.8B70%
$6.5B42%
Income before tax$6.2B41%
Income tax$1.4B9%
$4.5B29%
Source: · event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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