S&P Global Inc. reported a significant increase in its financial performance for the fiscal year ending December 31, 2024, with total revenue reaching $14.2 billion, a 14% increase from $12.5 billion in 2023. The company's operating profit also saw a substantial rise of 39%, amounting to $5.58 billion compared to $4.02 billion in the previous year. This growth was driven by strong performance across all reportable segments, particularly in Ratings, which experienced a 31% increase in revenue, largely due to heightened transaction activity in corporate bond and bank loan ratings.
The company underwent notable strategic changes during the fiscal year, including several acquisitions and divestitures. S&P Global completed the acquisition of Visible Alpha, a financial technology provider, and World Hydrogen Leaders, enhancing its capabilities in market intelligence and energy transition solutions. Additionally, the company divested its Engineering Solutions segment in May 2023 and sold the PrimeOne and Fincentric businesses in 2024, which contributed to a pre-tax gain of $59 million. These strategic moves reflect S&P Global's focus on optimizing its portfolio and expanding its market presence.
Operationally, S&P Global reported a total employee headcount of approximately 42,350 as of December 31, 2024, with a significant presence in Asia (around 24,450 employees) and the U.S. and Canada (approximately 11,200 employees). The company also noted a favorable impact from foreign exchange rates, which contributed less than 1 percentage point to revenue growth. The firm continues to emphasize customer engagement and product innovation, particularly through the integration of generative artificial intelligence (AI) into its offerings.
Looking ahead, S&P Global anticipates continued growth driven by its strategic initiatives and market demand. The company aims to enhance its customer experience and expand its product offerings, particularly in areas related to energy transition and sustainability. However, management acknowledged potential risks, including economic volatility and regulatory changes, which could impact future performance. The company remains committed to maintaining a strong financial position, with cash and cash equivalents totaling $1.67 billion as of year-end 2024, supporting its operational and strategic objectives.
About S&P Global Inc.
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